Podcast Summary: "🍒 $200 SmartBra — Forme’s high-tech bra. Can’t buy house, buy crypto. Fast Casual’s bowl recession."

The Best One Yet – August 19, 2025
Hosts: Jack Crivici-Kramer & Nick Martell

Episode Overview

In this episode of The Best One Yet, Jack and Nick return to their unique blend of pop business news, tackling three timely business stories:

1. Why millennials are investing in crypto instead of buying homes
2. The rise of Forme’s $200 high-tech “SmartBra” and the fusion of fashion with tech
3. The slowdown (or “bowl recession”) of fast-casual giants like Chipotle, Cava, and Sweetgreen, and how Olive Garden is the surprising inspiration
   The episode opens with a heartfelt catch-up on Nick’s recent health scare, adding a personal and relatable tone before launching into the stories.

Key Discussion Points & Insights

1. Nick's Hospitalization & The Takeaways (00:35–06:43)

• Personal Update: Nick recounts a harrowing experience with shingles that evolved into meningitis, requiring 5 days in hospital and a portable IV.
• Advocacy for Health & Humor:
  • “Early takeaway here, Yetis: If you’re feeling badly, go get yourself checked on, because if Nick hadn’t, things could be even worse.” – Jack (02:28)
  • “Be an advocate for yourself. You gotta really push for getting solutions.” – Nick (02:35)
• Investment Wisdom:
  • Nick, inspired by his hospital experience, invests in companies that helped him recover: Stryker (spinal tap), Teva Pharmaceuticals (antivirals), Medtronic (IV), and Bayer (Miralax).
  • "I call this thing my air maze IV, because it’s like a little bag. It’s my Birkin bag for blood, Jack." – Nick (04:06)

2. Story One: Millennials Buy Crypto, Not Homes (08:06–13:03)

• Stock Market Is Booming, Housing Market Is Frozen:
  • The S&P 500 is up 10% (after strong years in ’23 and ’24), while home sales are stagnant due to high mortgage rates (6.6%) and unaffordable prices.
  • “The only one buying homes right now are old people who already have homes.” – Jack (10:37)
  • Median homebuyer age is now 56, up from 36 in 1981.
• Where Are Millennials’ Savings Going?
  • 20 & 30-somethings, unable to afford homes, are redirecting down payment nest eggs into riskier investments—crypto, stocks, and ‘meme’ assets.
  • “The housing market is supposed to be exciting for 20 and 30 somethings… that’s completely not happening anymore.” – Jack (10:59)
  • Non-professional investors now make up 20% of daily trading, more than hedge funds’ 15%.
  • “Crypto is filled with our nest eggs.” – Nick (11:39)
  • “2025 meme stonking is funded by nest eggs and frustration with the housing market.” – Jack (12:50)

Notable Quote:

“We’re buying bitcoins, not bedrooms.” – Jack (13:01)

3. Story Two: The $200 High-Tech “SmartBra” by Forme (13:03–17:55)

• The Product & the Phenomenon:
  • Forme’s posture-correcting sports bra retails for $200 (compared to Nike at $40, Lululemon at $50, Versace at $95).
  • Surging sales—over 500,000 sold in the U.S., pacing for $100M revenue.
  • Taylor Swift wore Forme in a TIME profile; sales jumped 400% as a result (14:42).
  • The product isn’t positioned as apparel but as a medical-grade tech wearable.
• Innovation & Marketing:
  • Co-founded by an orthopedic surgeon and his business-trained son, inspired by their grandmother’s health struggles.
  • Features 8 panels of technical fabric to nudge better posture; FDA-approved, 35 patents held.
  • "It’s the Birkin of brassieres. This bra is priced like a top shelf bourbon." – Nick (14:12)
  • No electronic tech; the value comes from design & medical positioning, targeting “white collar workers hunched over a MacBook 24 hours a day.”
• Tech as Fashion’s Muse:
  • “The category isn’t Lululemon, it’s Apple Watch.” – Jack (15:01)
  • Other examples: Skechers' AirTag-ready sneakers, Meta Ray-Ban AR glasses.
  • Takeaway: Fashion is charging tech-level prices by framing itself as tech.

Notable Quote:

“Tech is fashion’s new muse.” – Jack (17:01)

4. Story Three: Fast-Casual Bowl Recession (19:45–23:54)

• The Downturn:
  • Cava, once rising fast, now mirrors Chipotle and Sweetgreen’s slowdowns; stock prices tumble.
  • Cava’s store revenue growth fell from 14% to 2% in a year; Cava stock down 38% YTD, Chipotle down 27%, Sweetgreen 70%.
  • "It’s a falafel fatigue. It is a hummus holdup." – Nick (21:15)
• The New Reality:
  • The target consumer (high-income “kale collar”/white-collar millennial) is anxious, responding to job insecurity (especially re: AI) by brown-bagging lunch.
  • “People are spending half their day practicing ChatGPT to make sure ChatGPT doesn’t use them.” – Nick (21:58)
  • Home cooking is at its highest since the pandemic’s start.
• What’s Next? Lessons from Olive Garden:
  • Fast-casual brands are in a “value trap”—must choose to improve price or product, as Olive Garden did in 2014.
  • Sweetgreen is increasing protein portions 25%; Chipotle pledges not to pass on tariff costs; both are piloting robo-kitchens.

Notable Quotes:

“Fast casual needs to pick a side, like the Olive Garden did.” – Jack (22:46)
“When you’re here, you’re pivoting.” – Nick (23:54)

Notable Quotes & Memorable Moments

• “We don’t have to do this show. We get to do the show.” – Nick (05:42)
• “Your health was too important. That’s what we needed to focus on.” – Jack (03:31)
• “It’s my Birkin bag for blood, Jack… highly fashionable.” – Nick (04:07)
• “Boomers and more boomers [are the only homebuyers].” – Jack & Nick (10:00)
• “Only those with homes don’t want to give up that sweet 3% mortgage.” – Nick (10:24)
• “Tech is fashion’s new muse.” – Jack (17:01)
• “I just spat on my sweet potatoes. Yetis. It is a falafel fatigue.” – Nick (21:15)
• “People are bringing their lunch into work... the highest level of home cooking since the pandemic.” – Jack (22:20)

Important Timestamps

• Health scare recap & business inspiration: 00:35–06:43
• Stock Market vs. Housing Market Deep Dive: 08:06–13:03
• Forme $200 SmartBra & Tech-Fashion Fusion: 13:03–17:55
• Fast-Casual Bowl Recession & Olive Garden Playbook: 19:45–23:54

Fast Facts & Best Fact Yet

• Median homebuyer age: Now 56 (10:44)
• Forme sales: $100M projected, 500k bras sold (14:18, 14:25)
• Home-cooking levels: Highest since pandemic onset (22:20)
• Best Fact Yet:
  Dr. Amit Ohm, dermatologist:
  "Shingles" comes from Latin for "belt", describing how the rash wraps around the body like a belt; blisters also overlap like roof shingles. (26:34)

Final Reflections

• The tone is upbeat, witty, and packed with pop-culture asides and business wordplay.
• The episode’s stories connect around big trends: younger generations shifting away from traditional purchases (homes) toward investments with greater volatility (crypto, ‘tech as fashion’), and longstanding consumer habits (fast-casual lunch) being disrupted by economic anxieties and tech developments.
• Jack and Nick’s camaraderie—and Nick’s health journey—infuse the business talk with warmth and relatability.

Closing Reflection:
“Celebrate the wins and celebrate your health. We’ll see you tomorrow. As awesomely always.” – Nick (27:41)