🌮 “From TACO to BURRITO” — Trump’s next trade war trade. Jimmy Butler’s super coffee. Target’s influencer turnaround.

Summary

Podcast Summary: The Best One Yet Episode: 🌮 “From TACO to BURRITO” — Trump’s next trade war trade. Jimmy Butler’s super coffee. Target’s influencer turnaround. Host: Nick & Jack Studios Release Date: July 16, 2025

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Introduction

In this engaging 20-minute episode of The Best One Yet, hosts Jack Crivici-Kramer and Nick Martell delve into three pivotal business stories shaping today's landscape. Skipping the usual advertisements and intros, they provide insightful analysis and fresh perspectives on trade policies, celebrity entrepreneurship, and retail transformations.

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1. The Transition from Taco to Burrito Trade

Overview: Nick and Jack explore the escalating trade tensions initiated by President Trump, moving from the previously dubbed "Taco Trade" to what they term the "Burrito Trade." This shift signifies a more aggressive and unwavering stance on tariffs, potentially impacting global markets and Wall Street.

Key Points:

• Historical Context: The trade war commenced 105 days prior on April 2nd, marked by significant stock market declines—“Stocks fell 14% in the four days after Trump declared trade war on the whole world” ([00:57] Nick).
• Taco Trade: Initially characterized by Trump's tendency to announce tariffs and subsequently retract them, leading to investor skepticism. Nick refers to this as the “shrug market” where investors largely ignored the threats due to their perception of them as bluffs.
• Shift to Burrito Trade: Recent developments indicate Trump’s determination to enforce tariffs without backing down. This includes “a dozen new tariff threats in the last dozen days” ([07:27] Jack), targeting 25 countries with tariffs ranging from 30% to 50% effective August 1st.
• Market Implications: Despite the barrage of tariffs, stocks remain at all-time highs, suggesting that Wall Street might believe Trump’s current stance is genuine. The hosts posit that if Trump follows through, it could tarnish his credibility as a dealmaker, leading to sustained market turbulence.

Notable Quote: Nick summarizes their theory at [10:02]:

“The burrito trade. We'll explain in a few. Yeah, it is. It is the opposite of the taco trade.”

Takeaway: The transition from the unpredictable "Taco Trade" to the steadfast "Burrito Trade" could signal enduring economic repercussions, emphasizing the need for investors to brace for potential market volatility.

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2. Jimmy Butler’s High-End Coffee Venture

Overview: The hosts spotlight NBA star Jimmy Butler's ambitious foray into the coffee industry with his second venture, Big Face Coffee. Butler aims to revolutionize the coffee market by introducing ultra-premium offerings, including a $100 flight of specialty coffees.

Key Points:

• Brand Strategy: Big Face positions itself similarly to fine wine, leveraging premium pricing to signify quality and exclusivity. The $100 flight includes three tiny cups of meticulously crafted coffee, likened to a “Michelin style mocha sensory experience” ([12:03] Jack).
• Market Trends: Butler’s initiative aligns with the growing trend of professional athletes launching branded ventures, such as energy drinks, but with a focus on coffee—a larger market segment.
• Consumer Experience: The minimalist store designs in Miami and San Francisco have become "influencer meccas," attracting significant social media attention and long lines.
• Origins: Butler’s interest in high-quality coffee began during the COVID-19 pandemic when he meticulously brewed his own coffee for teammates, leading to the creation of Big Face.

Notable Quote: Nick encapsulates the venture’s essence at [14:03]:

“Because why can't fine coffee be priced and appreciated like fine wine?”

Takeaway: Jimmy Butler’s Big Face Coffee challenges traditional pricing models in the coffee industry by introducing luxury-priced offerings, questioning whether coffee can attain the same prestige and appreciation as fine wine.

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3. Target’s Declining Performance and Influencer Economy Turnaround

Overview: Target, once a retail powerhouse known for trendy collaborations and customer-friendly innovations, is experiencing a significant downturn. Nick and Jack propose a bold strategy to reinvigorate Target by integrating the influencer economy into its physical stores.

Key Points:

• Current Struggles: Target's sales have declined for two consecutive years, and its stock is down by 60% while competitors like Walmart and Costco reach all-time highs. Issues cited include longer checkout lines, less appealing collaborations, and a cluttered store environment ([19:05] Jack).
• Proposed Solution: To transform Target into the "physical store for the influencer economy," the hosts suggest:
  1. Influencer Studios: Redesign portions of Target stores to include dedicated spaces where influencers can create content, such as tutorials and product showcases.
  2. Sampling Programs: Offer influencers unlimited samples of Target’s products in exchange for tagging Target in their promotional content.
• Expected Outcome: By fostering strong relationships with micro-influencers, Target can enhance its brand visibility and appeal to a broader, engaged audience, potentially reversing its decline.

Notable Quote: Jack outlines the influencer studio concept at [20:45]:

“It's gonna have a kitchen, a bathroom and a dressing room for tutorial videos.”

Takeaway: By embracing the influencer economy and providing dedicated spaces for content creation, Target can revitalize its brand presence and reconnect with modern consumers, positioning itself as the go-to retail destination recommended by trusted voices.

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Additional Insights

Inflation Report: The latest report indicates a 2.7% increase in prices year-over-year for June, up from May’s 2.4%. The hosts attribute this rise to the ongoing trade war, suggesting that companies are passing the increased costs onto consumers ([22:31] Jack).

Starbucks' Secret Menu: Starbucks has officially integrated its previously exclusive secret menu into the regular offerings available through their app, raising questions about the essence of a "secret" menu ([22:53] Nick).

Private Jet Tax Breaks: A new bill introduces bonus depreciation for private jets, allowing companies to write off the entire cost in the first year. This move has positively impacted private jet stocks, which have risen by 5% ([23:16] Nick).

Correction on Longest US Flight: A listener correction revealed that the Miami to Seattle flight, launched by Alaskan Airlines three years ago, is now the longest flight within the continental contiguous United States at 2,724 miles, surpassing the previously longest Boston to San Francisco route ([23:53] Jack).

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Conclusion

Nick and Jack wrap up the episode by reiterating their key takeaways:

1. Burrito Trade: A definitive move by Trump to uphold tariffs, potentially destabilizing markets.
2. Big Face Coffee: Jimmy Butler's venture elevates coffee to a luxury experience, akin to fine wine.
3. Target’s Influencer Strategy: A strategic pivot to embrace the influencer economy could restore Target’s market position.

They also remind listeners about upcoming live shows, giveaways, and shout-outs to their community, fostering a strong connection with their audience.

---

Notable Quotes with Timestamps:

• “[00:57] Nick: And the only reason Trump paused all those tariffs for 90 days, because the stock market was tanking and CEOs were freaking out.”
• “[10:02] Nick: The burrito trade. We'll explain in a few. Yeah, it is. It is the opposite of the taco trade.”
• “[14:03] Nick: Because why can't fine coffee be priced and appreciated like fine wine?”
• “[20:45] Jack: It's gonna have a kitchen, a bathroom and a dressing room for tutorial videos.”

---

This episode provides a comprehensive analysis of significant business developments, blending insightful commentary with strategic foresight, making it an invaluable listen for anyone keen on understanding the current economic and entrepreneurial trends.

Transcript

[Nick]

This is Nick, this is Jack. It's Wednesday. CEVICHE Wednesday, July 16th. And today's pod is the best one yet. This is a D boy.

[Jack]

The top three pop business news stories you need to know today.

[Nick]

One week, count them. One week until our live show in Chicago. Is tickets still available, Jack? Here we go.

[Jack]

July 23rd in Chicago. Tap the link in the episode description to snag your tickets.

[Nick]

Okay. Jack and I actually whipped up something special. We're giving away some merch to some lucky attendees. You wanna share what it is, Jack?

[Jack]

We actually have some yeti dolls, basically ad stuffed animals that we're gonna toss out to the audience Oprah style.

[Nick]

We got some yeti Labubuy yeti dolls. So snag your tickets, besties. Bring a buddy. And Jack, let's hit today's three fantastic stories.

[Jack]

For our first story, the taco trade is that President Trump announces tariffs and then he chickens out.

[Nick]

But this time we think he won't. In fact, we have a new theory that we call the burrito trade.

[Jack]

And it just might put a hurting on Wall Street.

[Nick]

Oh, yeah.

[Jack]

For our second story, Jimmy Butler, the NBA all star and gold medal win, opened his second coffee shop.

[Nick]

It's called Big Face. And get this, they sell a flight of coffee for 100 bucks because coffee is copying wine. Coffee coming after the cabs.

[Jack]

And our third and final story, Target is tar gone. While all its big box competition is at record highs, Target is down 60%.

[Nick]

So Jack and I have a solution. Target should become the physical store of the influencer economy.

[Jack]

But yetis, before we hit that wonderful mix of stories.

[Nick]

What a mix, right? Actually, Ceviche Wednesday. Love the mix. Jack.

[Jack]

We know your favorite part of your favorite car.

[Nick]

It's not the engine, it's not the speed. And it ain't the heated massage seat.

[Jack]

It's the cup holders.

[Nick]

The cup holders. Jack and I have told you about it. We call it the cup holder effect.

[Jack]

It's that you're more likely to choose your car based on the number and placement of cup holders than the number and placement of the horsepower.

[Nick]

Six cup holders. Boom. That beats six cylinder engines.

[Jack]

But according to J.D. power's survey, cup holders across the country are failing U.S. drivers.

[Nick]

And the reason is shocking. It's the Stanley Tumbler. J.D.

[Jack]

Powers surveyed 92,000Americans about their cars, what they like about them and what they don't like about them.

[Nick]

And their fastest growing frustration. It's the cup holder is too small.

[Jack]

Cup holder crankiness jumped four spots on the list of top car Complaints this.

[Nick]

Year because the Stanley Cups, they've gotten too big for that Buick.

[Jack]

They've gotten too large for that Lexus.

[Nick]

Jack.

[Jack]

There's too much girth for your VW Golf. The 64 ounce Stanley Tumba, it's five inches wide at the bott.

[Nick]

True story.

[Jack]

That's some circumference right there. It's like this. Double the size of a double Big Gulp.

[Nick]

Okay, besties. Jack's big dumb cup is 40 ounces. He has to put it in the trunk when he's driving. I got it right here.

[Jack]

It does not fit in a standard commission sized cup holder.

[Nick]

You need a tractor trailer for that thing. But to sprinkle on some context, Yetis, the cup holder was invented in the 1970s, right around the same time as the fast food drive thru.

[Jack]

And today it's the Toyota Sienna. That's the queen of the cup holder.

[Nick]

18 cup holders, that's enough for a whole team, man.

[Jack]

But the size of those cup holders just hasn't adapted to the modern water bottle.

[Nick]

So the way we see it, to solve today's cup holder crankiness, we're gonna need some jug holders. Yeah.

[Jack]

Hey, Stanley. Pause the Stanley Cup. Build this to Stanley Cab because Jack's.

[Nick]

Holding his tumbler between his thighs. And that we're gonna need to see some license and registration.

[Jack]

That's dangerous.

[Nick]

Pull over, sir. I'm already pulled over. Jack. Let's hit our three stories. Fifteen years before this song. Two bo Northeast met in the dorm. They had an idea to cause a cultural storm. It's the best one yet. But the best is the norm. Jack. Nick, that's it. I don't even think they need to practice. 50. That's a fat tip. T boy city on your at Liz. If you know, you know. Cause we ready to go. We can't wait no more. So just start the show. Start the show. First, a quick word from our sponsor.

[Jack]

Audible.

[Nick]

T boy Trivia. Here we go. Yetis, what is the biggest thing you can pack for vacation but not have to check your luggage?

[Jack]

I think it's a leading question based on my Audible I just said a second ago.

[Nick]

Yeah, yeah. The answer is the Audible app. It's the Audible app.

[Jack]

Audible has the deepest selection of audiobooks, podcasts and Audible originals all in one app.

[Nick]

You gotta stick all your clothes in a suitcase, but you get thousands of audio titles in your pocket right now.

[Jack]

On a World War II kick. I'm listening to Doris Kearns Goodwin on FDR and Eleanor Roosevelt.

[Nick]

How we created the arsenal of democracy. It is Jack's Roman Empire right now.

[Jack]

Now, when we're packing for our summer vacation, we don't forget our toothbrush and we don't forget our Audible.

[Nick]

There's more to imagine when you listen.

[Jack]

Sign up for a free 30 day Audible trial and your first audiobook is free.

[Nick]

Visit audible.comt boy, that's audible.comtboy Airbnb, Yetis, there is nothing more powerful in life or in business than the double dip.

[Jack]

Dip that chip twice and don't end.

[Nick]

It with the ultimate money. Double dip Hosting on Airbnb. Jack's talked so much about being a host, his friends are asking him about it. I'm getting asked about it all the time.

[Jack]

One buddy is about to get married. He has no kids yet. He wants to travel the country dink style with his new wife. How is he gonna pay for it? He's gonna list his house on Airbnb.

[Nick]

So, Basties, if you're going on vacation this summer, join the millions who host on Airbnb.

[Jack]

Host your whole space. Host your extra space. Host any space.

[Nick]

The income from putting your Airbnb could pay for your whole vacay.

[Jack]

I've been doing it for three different properties now.

[Nick]

Yeah, and it's easy to set booking availability, and then when the booking comes in, Jack, you always say it just shows up in your Google calendar.

[Jack]

And if you're not sure what to price your place at, check Airbnb and look at similar listings. It's very easy.

[Nick]

You can double dip that chip.

[Jack]

Your home might be worth more than you think. Find out how [e-mail] host.

[Nick]

For our first story. Is it the end of the taco trade? Because we predict that this time Trump actually won't cave on tariffs.

[Jack]

So we want to introduce a new trade. We call it the burrito trade, and it starts August 1st.

[Nick]

Now, Yetis, let's go back in time a little bit. The trade war. It officially began 105 days ago. April 2nd. Liberation Day.

[Jack]

But it was actually liquidation day.

[Nick]

Yeah, why was that, Jack?

[Jack]

Stocks fell 14 in the four days after Trump declared trade war on the whole world.

[Nick]

And the only reason Trump paused all those tariffs for 90 days, because the.

[Jack]

Stock market was tanking and CEOs were freaking out.

[Nick]

And thus began the taco trend. Because when it comes to tariffs, Trump always chickens out.

[Jack]

Investors started ignoring the trade war because Trump is afraid of the stock market falling. So he backs off tariffs every time.

[Nick]

Yeah, it's just the bluff. Don't worry. When he announces tariffs in Argentina, he's Not gonna follow through with them. That was the thought.

[Jack]

And the result was a fantastic first half of the year for the stock market. Even though tariffs were constantly a threat.

[Nick]

We called it the shrug market. Cause investors just eh, shrugged it off.

[Jack]

But starting last week, Trump's trade war chill out came to an end.

[Nick]

That's right. President Trump has doubled down on tariffs. In fact, Jack and I have been keeping count and we have counted a dozen.

[Jack]

There were a dozen new tariff threats in the last dozen days.

[Nick]

Alright Jack, let's check out the whiteboard. What happened on July 7?

[Jack]

35 to 40% tariffs on 14 countries, all starting August 1.

[Nick]

What about on July 9?

[Jack]

50% tariffs on Brazil, also effective August 1.

[Nick]

Okay, how about on July 12?

[Jack]

30% tariffs on the EU and Mexico and 35% tariffs on Canada, all effective August 1.

[Nick]

What the heck, Jack? For good measure, let's toss 50% tariffs on copper, also effective August 1.

[Jack]

25 countries, including virtually all of our major trading partners, except the UK and Vietnam.

[Nick]

Because the UK and Vietnam are the only two countries that have reached any kind of a trade agreement since all of this trade war started.

[Jack]

Plus copper's getting tariffs.

[Nick]

I forgot. Hide those pennies, hoard those pennies, Jack.

[Jack]

So Trump has raised so many stakes for August 1st, he's turned it like into his personal tea day. It's a big deal. August 1st.

[Nick]

But Jack, what do investors think? Despite seeing all of those tariffs over.

[Jack]

The last three weeks, Investors think it' one big bluff.

[Nick]

It's taco all over again.

[Jack]

And proof that's how Wall street thinks is that stocks are at all time highs.

[Nick]

Yes, they are. But besties, here's what Jack and I are thinking. With Trump's reputation on the line and with stocks at all time highs, is he really going to cave again at the end of this month?

[Jack]

If he does cave again, then how can any threats he makes in the future be taken seriously?

[Nick]

Good point, Jack. Which leads to our takeaway. Jack, what's the takeaway for all our buddies looking at the markets?

[Jack]

Forget the taco tr, get ready for the opposite. The burrito trade.

[Nick]

The burrito trade. We'll explain in a few. Yeah, it is. When President Trump declared the trade war 100 days ago, stocks fell 14%. That erased a year of gains in just four days.

[Jack]

And yet in the past couple weeks, he's announced just as many new tariffs. But stocks have barely budged. Stocks are chilling at all time highs right now.

[Nick]

It's because of the taco trade. And if Trump caves again, then Wall street was Right. These all time high stock prices really do make sense.

[Jack]

But like we said, if Trump does cave again on August 1st, then his reputation as a dealmaker is completely ruined.

[Nick]

And that's the key. Besties. That's why we think this time Trump won't chicken out. We think he won't back down. We think he's gonna stick with these tariffs.

[Jack]

He doesn't wanna lose leverage, he doesn't wanna appear as weak. He doesn't want his credibility shot and he doesn't like that Wall street doesn't believe him.

[Nick]

So add it all up and Jack and I are calling this the burrito trade.

[Jack]

Burrito. You ready for it?

[Nick]

Hit me.

[Jack]

Bold unilateral retaliation, regardless of inflation, trade.

[Nick]

Or opinions, you can double check as that spells burrito.

[Jack]

The burrito trade, it's the opposite of the taco trade.

[Nick]

Because on August 1st we think Trump won't chicken out, which means the stock.

[Jack]

Market is in for a hurting.

[Nick]

It's in for a burrito. Ch. For our second story, basketball star Jimmy Butler launched a coffee chain and he's selling $100 flights of coffee.

[Jack]

We don't think that price is crazy.

[Nick]

No, we don't.

[Jack]

And as proof, we're pointing to the wine industry.

[Nick]

Yes, we are. Now yetis, earlier this year Jack and I told you about a trend. We actually called it Gucci coffee, Ralph.

[Jack]

Lauren, Prada and Zara. Three fashion brands now have coffee shops too.

[Nick]

Yes they do. But the latest caffeinated trend that we've noticed is professional athlete coffee.

[Jack]

Call it sporty cappuccinos.

[Nick]

Like Olympian Melissa Ortiz who launched a coffee startup last year.

[Jack]

Or Patrick Mahomes who just joined Throne Protein Coffee as a co founder even though the brand's been around for a while. I don't know how he pulled that.

[Nick]

Off, but it makes sense when you think about it. Like why compete with your teammates who have all invested in and launched their own energy drink brands these days?

[Jack]

And strategically, coffee is a bigger market than energy drinks.

[Nick]

Quote Jerry Maguire. Show me the money.

[Jack]

We think pro athlete coffee collabs could be the new sneaker deal.

[Nick]

A LeBron Starbucks commercial. We're predicting it could be seeing it in the future. But the biggest leader in this professional athlete coffee trend, who is it, Jack?

[Jack]

Jimmy Butler. Yeah, the six time NBA all star and Olympic gold medal winner and current Golden State warrior.

[Nick]

He prefers to go by Java Jimmy, although we like to call him the Scottie Pippen of the pour over. Or maybe it's Scottie Pippen of the pumpkin spice.

[Jack]

I don't think he likes pumpkin spice.

[Nick]

Dude, Shoot us a dm, Jimmy, and we can help you decide. Because get this. Not only did Jimmy launch a coffee brand, he's got a $100 price tag on those coffees.

[Jack]

It's called Big Face. The stores have minimalist design, but offer maximal coffee.

[Nick]

It's like a Michelin style mocha sensory experience.

[Jack]

The first location opened in Miami in December, and the latest location launched this month in San Francisco.

[Nick]

I mean, Jack, there was a line out the door the entire weekend. It basically became an influencer mecca.

[Jack]

And Jimmy is going full court French press.

[Nick]

When it comes to the menu, pricing is a strategy. Jack, tell us about the prices, please.

[Jack]

$10 for a cup of drip coffee? Okay, that's expensive, but I can handle that.

[Nick]

$100 for a flight of coffee.

[Jack]

I've never seen a coffee shop with $100 anything on the menu.

[Nick]

Besties, we've told you about double digit lattes. We're talking triple digit lattes here.

[Jack]

The flight for $100 includes three tiny cups of specialty coffee. And again, it's 100 bucks.

[Nick]

This big Face coffee brand is charging prices that would make Blue Bottle look like a charity.

[Jack]

Now we should sprinkle on some context. Jimmy Buffler has become a coffee snob.

[Nick]

Yeah, it's true. It actually began during COVID when he was importing his own beans to his house to make the coffee he desired.

[Jack]

Today, Jimmy travels to away games and brings his own barista to the hotel with him.

[Nick]

Because during the pandemic, the NBA was playing in a bubble. There was no access to, like, outside resources.

[Jack]

He didn't want drink from his K cup machine in his hotel room. So he actually brought his own French press and started brewing coffee for his teammates, charging him 20 bucks a cup.

[Nick]

Yeah, he said if they're making million dollar contracts, they can afford the $20 macchiato.

[Jack]

And that's when he developed the Big Face brand. During the pandemic basketball bubble.

[Nick]

But we should point out, Jack, it's not named Big Face coffee because Jimmy Butler, the athlete, has a big physical face.

[Jack]

It's called Big Face coffee because his teammates paid him in $100 bills. They were that expensive.

[Nick]

And there's a big face on those $100 bills. Be Franklin. Huge cheeks. So, Jack, what's the takeaway for our $100 latte buddies over at Big Face Coffee?

[Jack]

Why can't fine coffee be priced and appreciated like fine wine?

[Nick]

Yetis? $100 for a cup of coffee? Sounds crazy, but consider for a second the wine industry Wineries can easily charge.

[Jack]

$1,000 based on the way they grow the grape. Why can't coffee houses do the same based on the way they grow the bean?

[Nick]

Yeah, we call it the three E's. Like a bottle of Bordeaux charges $500 because of quality, history and story.

[Jack]

The three E's, huh? Yeah, it works.

[Nick]

It kind of works.

[Jack]

It works because that bottle of Bordeaux was made by a winery that's been making red wine in a prized region of France for 100 years and selling it with a famous label.

[Nick]

Well, Big Face applies the same tactics to coffee beans for its rare African coffee strains.

[Jack]

Those beans are grown in a prized terrain of Ethiopia for centuries. And now it's got a cool brand too.

[Nick]

Big Face is even borrowing the same language as wine tasting notes, aging and terroir.

[Jack]

The strategy works with alcoholic grape juice. Why not with caffeinated beet juice?

[Nick]

So Jimmy Butler's $100 latte asks a philosophical business question.

[Jack]

Can you win ify the coffee industry?

[Nick]

Now, a quick word from our sponsor.

[Jack]

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[Nick]

Ah, speed and quality. Not typically a combo you get together.

[Jack]

I mean, Nick, you can get a fast food hamburger, but we hope you like it well done.

[Nick]

Or Jack, you can get a 10 second haircut, but we hope you like bangs.

[Jack]

Well, there is an exception to this unwritten rule. If you're hiring, you can find candidates fast who are also extremely qualified for your job.

[Nick]

Just use ZipRecruiter and right now you can try ZipRecruiter for free at ZipRecruiter.com.

[Jack]

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[Nick]

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[Jack]

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[Nick]

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[Jack]

And if you go to ZipRecruiter.com tboy right now, you can try it out for free again.

[Nick]

That's ziprecruiter.com tboy ziprecruiter the smartest way to hire. Yes, it is. AT&T business yetis starting your own business. It ain't easy. When we first got our daily newsletter off the ground that led to this podcast a decade ago, we definitely did not get everything right.

[Jack]

Remember, we initially bummed WI fi off of hotel lobbies.

[Nick]

Classic move.

[Jack]

And then the concierge kicked us out. So coffee shop free Wi fi became our godsend. Another latte shout out all the small business cafe owners. Your wifi is the real hero.

[Nick]

What's the code to the bathroom again? Honestly, if we could do it all over, we would probably invest in our own less bootleggy Internet.

[Jack]

If you need to connect your small business, you need AT&T business. They make connecting easy. Actually they make so many things easy.

[Nick]

Which is the main thing you want in a provider. Less time stressing, more time for you to work on your business.

[Jack]

And yetis there's never enough time.

[Nick]

So start a business, live your dream and wake up to the power of ATT business. Business.att.com for our third and final story. Target's stock is dropping. Its sales are slipping. Something has gone horribly wrong at Target.

[Jack]

Basically, to sum it all up, Target.

[Nick]

Is targone that gets it right there.

[Jack]

But we have an idea we think could turn Target around the influencer aisle.

[Nick]

Now besties. Full disclosure, I grew up in a city, so I didn't visit my first Target until I was like 26.

[Jack]

I do target runs so often, I'm like the mayor walking around with my big dumb cop down the aisle.

[Nick]

Jack walks in and starts cutting tape on new products. They're like photo op. Jack's here. The mayor of local Target.

[Jack]

Yeah, well you may know Target, cause growing up it was the anti Walmart, it was the UN Amazon, it was a millennial retail oasis.

[Nick]

Target, it was Tarjay. Clever collabs, clean design and a bull terrier mascot who was way cooler than the Taco Bell Chihuahua.

[Jack]

What happened to that mascot? Is that dog okay?

[Nick]

It's a story for another pod. Jack. There were so many Target innovations. For example, trendier aisles.

[Jack]

It was the first brick and mortar store to welcome direct to consumer brands.

[Nick]

Casper Mattress, Harry's razors, native deodorant, the online only millennial DTC brands were all sold at Target too.

[Jack]

Target also pioneered stores within stores.

[Nick]

Starbucks, they opened up 1700 locations within Target's. We called it inception retail.

[Jack]

At the time, Apple, Ulta Beauty, Levi and Disney. They also opened many stores within Target stores.

[Nick]

Add it all up and Jack, what was the result for Target? As we were all growing up, Target.

[Jack]

Was on a 2010s tear and the stock nearly tripled during the pandemic. The all time high valuation for target was over $100 billion.

[Nick]

You were doing date nights at Target and you know what, good for you.

[Jack]

But here's the update that you already know if you've been to Target recently.

[Nick]

Yeah, Target is targon.

[Jack]

Target's business is missing the bullseye so badly. It's just not a good scene over there.

[Nick]

Jack, let's talk financially. What kind of numbers we looking at here?

[Jack]

Sales have fallen for two straight years while the other big box stores have been up.

[Nick]

Stocks of Walmart, TJ Maxx, Costco, they're all at all time highs while target, it's down 60%.

[Jack]

It's not just the data though, it's the vibes.

[Nick]

Yeah.

[Jack]

An employee told CNBC this week that Target has lost its identity.

[Nick]

The lines for checkout are longer, the collabs ain't as cool, and the stores feel messy and uninviting.

[Jack]

Why are the kids cute? Tops all on the ground?

[Nick]

I don't even know what I'm doing there.

[Jack]

For example, the locks. Target now keeps deodorant locked up to deter theft like Walgreens used to.

[Nick]

And here's the weird thing we noticed. The CEO claims that consumers like their Old Spice deodorant locked up with a key.

[Jack]

Nobody likes having to ask you to come and unlock the deodorant.

[Nick]

So Jack, now what's been the result for Target?

[Jack]

Target is losing its faithful.

[Nick]

Yes, they are.

[Jack]

And half the customers who stop going to Target go to Walmart instead.

[Nick]

Except for Jack.

[Jack]

True. I'm still barely hanging off at Target. Target, you still have me.

[Nick]

Is the people pleaser in you, Jack? So Jack wants to take away from our buddies over at Target.

[Jack]

Target should become the physical store for the influencer economy.

[Nick]

Yetis, it doesn't appear that Target has any good turnaround plans. So Jack and I spent the whole day thinking up one for them.

[Jack]

Yeah, we came up with one. Our idea for Target become the go to store of influencers by inviting them into the store.

[Nick]

The way we see it, influencer marketing has matured. It's not just celebs, it's tiny micro creators, the ones with 50,000 followers.

[Jack]

People trust these micro influencers and make purchasing decisions based on what they recommend.

[Nick]

So, besties, here is our two part plan for Target to become the number one place influencers recommend you buy from.

[Jack]

Number one, redesign a section of the store for influencers to film content.

[Nick]

Target Influencer studio where influencers can book half hours to film tutorials.

[Jack]

Number two, offer those influencers unlimited samples of things sold at Target. As long as they tag Target in the video they post.

[Nick]

Come get ready with me as I apply Revlon lip liner over in Target.

[Jack]

At aisle six, the influencer studio. It's gonna have a kitchen, a bathroom and a dressing room for tutorial videos.

[Nick]

And ring lights galore it's like an influencer arena, Jack.

[Jack]

This way, influencers won't have to film content from the car. They can go to their local Target and have everything they need.

[Nick]

And the result of that, but the love that Target shows, influencers will be reciprocated and scaled.

[Jack]

That's how Target can become the physical store for the influencer economy.

[Nick]

Jack, could you whip up the takeaways for us for ceviche Wednesday?

[Jack]

The taco trade could end on August 1st when Trump's dozen new tariff threats become effective.

[Nick]

And if we're right, the taco trade will become the burrito trade. And what does that stand for, Jack?

[Jack]

Bold, unilateral retaliation, regardless of inflation, trade or anybody's opinions.

[Nick]

B U R R R I T O burrito.

[Jack]

Second, Jimmy Butler is scaling his Big Face coffee chain with some very pricey menu items, like $100 lattes.

[Nick]

Because why can't fine coffee be priced and appreciated like fine wine?

[Jack]

And our third and final story. Target is in many ways Target. Yeah, we brainstormed a bold, albeit risky, turnaround plan.

[Nick]

Target, they should become the physical store for the influencer economy.

[Jack]

But yetis, this pod's not over yet. Here's what else you need to know today.

[Nick]

First, the inflation report, which has become the celebrity of economic reports, was published yesterday.

[Jack]

Prices in this economy jumped 2.7% on average in June from the year before.

[Nick]

Which is also up from May's 2.4% inflation gain. Why?

[Jack]

It's probably the trade war. It looks like companies are starting to pass on the costs of tariffs to us.

[Nick]

Economists said it would take a few months for us to feel the trade war. And now here we are.

[Jack]

Second, Starbucks has officially unveiled their secret menu.

[Nick]

That's right. You can now buy drinks off the secret menu within the Starbucks app, like their Dragon Fruit. Glow up Frappuccino.

[Jack]

Although, if the secret menu is no longer secret, can you call it secret anymore?

[Nick]

Another philosophical question, Jack. Starbucks, they just turned their secret menu into a regular menu, so the secret is not so safe with us.

[Jack]

And finally, private jet sales are about to pop after the new big, beautiful bill. Tax break for private jets.

[Nick]

Yeah. There's one new detail in the new bill that companies can write off the entire first year of their private jet.

[Jack]

It's called bonus depreciation. It lets you expense the entire cost of the jet in the first year, which reduces your taxes.

[Nick]

So wheels up. A private jet Stock has been up 5% on that one detail in the bill.

[Jack]

It's great news for the super business class.

[Nick]

Plus crowd the T Boy jet Jack, it's right off. Well, I guess for one year, then we got to sell it.

[Jack]

Yeah, but it's like $20 million.

[Nick]

Let the accountants handle that. Now time for the best fact yet, which is a correction from YETI Anurag Gandhi from lovely Seattle.

[Jack]

On Monday, Nick said that he flew the longest flight within the continental contiguous 48 United States.

[Nick]

And the flight attendant confirmed it, by the way. Boston to San Francisco is 2,704 miles, but apparently it's no longer the longest.

[Jack]

Because Miami to Seattle is 20 miles longer.

[Nick]

That's right. Alaskan Airlines launched the service from Miami to Seattle three years ago. And that is two 2,724 miles long.

[Jack]

So apparently that flight attendant is like Claude the chat bot.

[Nick]

Yeah, yeah, yeah, yeah.

[Jack]

Her data is only valid up through, like, September of 2021.

[Nick]

Yeah, we were working with Alpha date information. Yetis, you look fantastic today. And if you snag tickets to our live show, you could be one of the winners of our T Boy Yeti. Stuffy, fluffy, it is a Yeti Abominable.

[Jack]

Snowman wearing a T Boy T shirt.

[Nick]

We can't even share anymore. We're not even gonna share pictures.

[Jack]

It's too wild.

[Nick]

You gotta see it in person.

[Jack]

But obviously, that's just, like, a tiny detail. The live show is gonna be incredible.

[Nick]

Oh, yeah, it's a Labubu dupe. But the live show. That's why you go to the live show. So grab your tickets, we got a link in this episode description, and Jack and I will see you tomorrow. And before we go, a happy birthday to YETI Rachel Yadav, who's turning 40 years old over in Green Bay, Wisconsin. Happy birthday, Rach.

[Jack]

And happy birthday to Yorch, AKA Jorge Hill in Monterrey, Mexico.

[Nick]

And a happy birthday to YETI Erin Romeo from lovely Brooklyn, New York, listening right now with daughter Madeline turning 8, and stepson Hugo, who's 10, celebrating the wins.

[Jack]

And happy birthday to Tucker Kramer from.

[Nick]

Brattleboro, Vermont, one of my older bros, The Tuckmeister. And Dr. Sydney at the dentists of Flagstaff. We want to let you know that Rachel is appreciative you filled that cavity.

[Jack]

Thanks for not forgetting the Novocaine.

[Nick]

And Cindy Nielsen just outside Boston's got a new job for San Mateo county and is moving all the way across the country.

[Jack]

And finally, a shout out to Lizzy Frost from El Paso, Texas, who went to the University of Texas, El Paso, a college whose architecture was designed to look like the nation of Bhutan. That raises more questions than it answers for me.

[Nick]

Lizzy. Hope they bought some bitcoin too. And if you want to get a shout out on this pod, fill out the form in our episode description and Jack and I will make it happen.

[Jack]

This is Jack. I own stock of Levi and Disney. Nick and I both own stock of Apple and we both own ETFs of the S&P 500. If you like the best one yet, you can listen ad free right now by joining Wondery and the Wondery app or on Apple Podcasts.

[Nick]

Prime members can listen ad free on Amazon Music.

[Jack]

And before you go, tell us a little bit about yourself by filling out a short [e-mail] survey we want to.

[Nick]

Get to know you. No offense, but your brain is a terrible place to keep your big idea. It belongs in the world. But you know that already. You have a calling, a voice that says this is what I'm meant to do. Create the website your big idea deserves with wix. Make it your own with top to bottom customization, AI to help realize your vision and built in business tools to turn your daydream into your dream job. WIX supports every stage of the business journey except one. Your decision to begin Ready Go to wix dot com.