🤓 “Ivy League-ish” — Harvard’s profit puppy. eBay’s all-time-high. Trickle Down AI-nomics. IBO = Initial Baby Offering.

Summary

Podcast Summary: The Best One Yet Hosted by Jack Crivici-Kramer & Nick Martell | Released on August 4, 2025

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Introduction

In this episode of The Best One Yet, hosts Jack Crivici-Kramer and Nick Martell dive into three compelling business stories that offer fresh insights and engaging discussions. Alongside their primary segments, they also share personal news and interact with their audience, maintaining the podcast's signature blend of professional and personable content.

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1. Harvard’s “Profit Puppy” Executive Education

Overview: Harvard University is navigating financial pressures due to the Trump administration's attempts to reduce government funding by alleging anti-Semitism and demanding greater oversight of faculty hires. In response, Harvard has increasingly leaned on its executive education programs, humorously dubbed its “profit puppies,” to sustain revenue.

Key Points:

• Revenue Generation: Executive education and non-degree certificates now account for 42% of Harvard's tuition revenue, generating $600 million last year—three times more than two decades ago.

  Jack (07:00): "Executive education for non-traditional students brought in $600 million of revenue for Harvard last year."

• Program Structure: These programs offer certificates rather than degrees, catering to professionals seeking advancement without committing to full-time studies. Prices are around $10,000 per student for short-term courses.

  Nick (08:26): "The price of these certificates is around $10,000 per student, even though you're only on campus for a few days."

• Online Expansion: Harvard isn't limited to in-person courses. Their online certificates boast 42,000 enrollments, vastly outnumbering their traditional MBA program's 2,000 students.

  Jack (08:39): "The Wharton School at University of Pennsylvania built a campus in San Francisco... Northwestern’s Kellogg School has 22,000 in continuing education compared to 1,000 full-time students."

• Brand Strategy: This expansion mirrors luxury brands' strategies, balancing revenue maximization with maintaining exclusivity.

  Nick (10:22): "Harvard, it's a luxury product and we see luxury fashion doing this all the time."

Notable Quotes:

• Nick (07:26): "And they are printing crimson cash, baby."
• Jack (10:09): "Brands are like balloons. You can blow them up, but eventually they might pop."

Takeaway: Harvard's strategic focus on executive education is a testament to how traditional institutions can adapt to financial challenges by diversifying their offerings and leveraging brand prestige to attract a broader audience.

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2. eBay’s Stock Reaches an All-Time High

Overview: eBay, the veteran e-commerce platform, has achieved an all-time high in its stock price, defying the dominance of newer giants like Amazon. The platform's focus on specialization and unique market segments has been pivotal to its sustained success.

Key Points:

• Historical Resilience: eBay has remained relevant by catering to niches that Amazon overlooks, such as collectible trading cards, vintage cars, and unique memorabilia.

  Nick (12:00): "eBay just announced that their trading cards didn't just experience growth, experienced growth, acceleration for the 10th straight quarter."

• Specialization Over Expansion: Unlike Amazon’s “everything store” approach, eBay focuses on one-of-a-kind items, fostering a loyal customer base.

  Jack (13:06): "So instead, eBay is focused where Amazon isn't in specialty categories."

• Technological Investments: eBay has enhanced its platform with security measures to authenticate high-ticket items and launched "eBay Live," a streaming auction service akin to Antiques Roadshow.

  Nick (13:43): "And eBay's gone even further than that. They've launched eBay Live to get into media."

• Economic Impact: eBay's model supports a vast AI supply chain, benefiting ancillary businesses like chip makers and server manufacturers.

  Nick (19:55): "And it's also an example of trickle down Ainomics. Their spending is someone else's revenue."

Notable Quotes:

• Nick (12:00): "eBay just announced that their trading cards didn't just experience growth, experienced growth, acceleration for the 10th straight quarter."
• Jack (14:10): "Double Dip hosting on Airbnb Jack’s talked so much about being a host..."

Takeaway: eBay's success underscores the value of specialization and catering to specific market segments. By maintaining a focus on unique and collectible items, eBay has carved out a resilient niche in the competitive e-commerce landscape.

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3. Trickle Down AI-nomics: Big Tech’s AI Investments

Overview: Big tech companies are massively investing in artificial intelligence (AI), with the stock market reacting positively. This phenomenon, termed "trickle down AI-nomics," highlights how AI spending by giants like Microsoft and Meta translates into broader economic benefits.

Key Points:

• Massive Investments: Companies are funneling billions into AI-related infrastructure and research.

  Nick (17:32): "Meta, Microsoft, Apple, and Amazon... each announced that they're spending insane amounts on AI."

• Diversified AI Goals:

  • Meta: Focused on consumer-oriented AI.
  • Microsoft: Geared towards business applications.
  • Amazon: Concentrates on AI for robotics.
  • Apple: While not specified in detail, likely exploring AI integration in consumer gadgets.

• Market Response: Despite high expenditures, these companies report record profits, with their stocks soaring.

  Jack (18:35): "Microsoft stock jumped 10% after their earnings last week to hit a $4 trillion valuation for the first time ever."

  Nick (19:00): "Meta stock rose 11% after that announcement."

• Economic Ripple Effect: The surge in AI investments benefits numerous sectors, including chip manufacturers like AMD and Nvidia, server builders like Super Microcomputer and Dell, and utility providers powering data centers.

  Nick (20:06): "Top of the list, the AI chip makers like AMD and Nvidia."

• Trickle Down AI-nomics: The large-scale spending by big tech acts as an economic stimulus, akin to governmental recovery bills, injecting significant revenue into various industries.

  Nick (20:37): "Their spending is someone else's revenue."

Notable Quotes:

• Jack (17:12): "It was Steve Martin."
• Nick (20:56): "Their capex spending is someone else's revenue."

Takeaway: Big tech's substantial investments in AI not only drive their own growth but also invigorate a wide array of supporting industries. This interconnected economic boost exemplifies the concept of leak-down AI-nomics, where major spending leads to widespread financial benefits.

---

Additional News Highlights

Beyond the main segments, Jack and Nick touch upon recent developments:

• Initial Baby Offering (IBO): Nick and his family are expecting a second child, humorously referred to as an IBO, sharing personal milestones with their audience.

  Nick (01:58): "We're Gonna have a Q3 kid, Jack. Big quarter for babies."

• Trump Administration’s Actions: President Trump fired the Commissioner of Labor Statistics following a weak jobs report, accusing her of data manipulation without evidence.

  Nick (21:49): "President Trump fired the Commissioner of Labor Statistics after a weak jobs report came out for July."

• Rolex Tariffs: A surprising 39% tariff imposed by President Trump on Swiss watches may lead to increased prices for consumers during the holiday season.

  Nick (22:26): "So for this Christmas, maybe it's more of like a buy now, half the watch for Christmas, half the watch for your birthday, pay later kind of a situation."

• NFL and ESPN Deal: ESPN is set to acquire the NFL Red Zone channel and the NFL Network, integrating them into their streaming app.

  Nick (22:54): "The official announcement is expected later this week, so we'll update you on the details and let you know what happens to ESPN the old show."

---

Conclusion

In this engaging episode, Jack and Nick provide insightful analyses of Harvard's strategic revenue streams, eBay's enduring success through specialization, and the expansive economic impacts of Big Tech's AI investments. Their blend of professional commentary with personal anecdotes and audience interaction ensures a comprehensive and enjoyable listen for both regular followers and newcomers.

Notable Takeaways:

• Harvard’s Executive Education: A significant revenue driver, balancing exclusivity with expansion.
• eBay’s Specialization: Continued success through niche markets and unique offerings.
• Big Tech’s AI Spending: Fueling a broad economic ripple through trickle down AI-nomics.

---

End of Summary

Transcript

[Nick]

This is Nick, this is Jack. Welcome back. It is Monday, August 4th, and today's pod is the best one yet. This is a T boy.

[Jack]

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

[Nick]

Jack. I ate a live shrimp. I ate a live shrimp.

[Jack]

It was alive. Dude, that's horrifying. I would never do that.

[Nick]

You know, they handed it to me. It was kind of peer pressure. Everyone was looking at me at the restaurant. I kind of had to eat it.

[Jack]

Nick, the only thing that separates us from animals is we don't eat live prey. But you no longer fall into that category.

[Nick]

You can feel the muscles moving. It's kind of a fun flex. Yeah, it is. We got three fantastic stories for you for today's show. Jack, what do we got on the T boy?

[Jack]

For our first story, as Harvard battles attacks from Trump, it's leaning more on its secret profit puppy executive education.

[Nick]

Because online courses are where the Ivy League crushes cash.

[Jack]

For our second story, guess whose stock is at an all time high right now?

[Nick]

Who jack? EBay.

[Jack]

EBay, the 29 year old E commerce pioneer is stronger than ever.

[Nick]

Ever. It's the Tom Cruise of tech, Jack.

[Jack]

Because ebay tracks a wild metric, enthusiasm. And our third and final story. Microsoft is spending enough money on AI data centers to buy every single team in the NBA.

[Nick]

But every dollar they spend is a dollar someone else earns. So Jack and I will tell you about that someone else.

[Jack]

But Yetis, before we hit that wonderful.

[Nick]

Mix of stories, fantastic mix of stories, love the mix. Today Jack.

[Jack]

Sigma had a record setting IPO last week.

[Nick]

An initial public offering.

[Jack]

But here at T boy, we're about to announce something much bigger. An IBO initial baby offering. That's right, Yetis, here's the news. Nick's family is expecting another child. Their second baby. Wild.

[Nick]

Our prospect is for a brand new little baby.

[Jack]

And that baby is expected this quarter.

[Nick]

We're Gonna have a Q3 kid, Jack. Big quarter for babies.

[Jack]

I've known for a couple months. It's been hard to keep this a secret. But Nick was ready to share. Very excited for you guys.

[Nick]

Oh, big moment, Jack.

[Jack]

It's a big moment for you and Molly. You're basically. No, you're literally going to grow your family by 33%. Sure.

[Nick]

We already have a two year old son. Little Maxi is going to be a big bro. I think he's finding out through this podcast right now, Jack.

[Jack]

Now Nick, all the Wall street analysts.

[Nick]

Want to know, uh huh.

[Jack]

When is this baby hitting the markets?

[Nick]

Well Jack, the due date is In September. So it is coming up for those analysts.

[Jack]

Is there a consensus analyst forecast on the gender?

[Nick]

Jack, that is currently material non public information.

[Jack]

Got any leaks on the name at least?

[Nick]

You know we're in the name storming process right now with the bankers. So comment with your ideas. We will take them into consideration.

[Jack]

How short is the short list of.

[Nick]

Names we're big fans of? 2 syllables.

[Jack]

Yeah, it is. This is T Boy Family's fifth pod child coming. We're very excited.

[Nick]

It is the fifth initial baby offering that we have covered on this show.

[Jack]

Now so far it's all pod sons.

[Nick]

True.

[Jack]

Maybe we'll get our first pod daughter. Fingers crossed.

[Nick]

We will update you when we know more. Yetis.

[Jack]

Yetis, thank you for being there with us for all this exciting news.

[Nick]

We can't wait for this. Ibo. Everyone's getting to share.

[Jack]

Get to work on that. Bassinet doesn't assemble itself.

[Nick]

I already texted a task Rabbit. Jack. Let's sit out three stories.

[Unknown]

Fifteen years before this song, two boys from the 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 list. If you know, you know. Cause we ready to go. We can't wait no more. So just start the show. Start the show.

[Nick]

First, a quick word from our sponsor.

[Jack]

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[Nick]

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[Jack]

And I'm a proud power user. I put the mocha or chocolate flavored vital proteins collagen in every mug of coffee I've drank so far this year.

[Nick]

I threw some into a pancake mix because, like, why the heck not? Jack?

[Jack]

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[Nick]

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[Jack]

That's vitalproteins.com, promo code T Boy for 20% off.

[Nick]

These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.

[Jack]

Airbnb Yetis.

[Nick]

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 going to pay for it? He's going to 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 home on Airbnb could pay for your whole vacay.

[Jack]

I've been doing it for three different.

[Nick]

Properties now, 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. Harvard University's financials reveal the surprise business model of the Ivy League that nobody tells you about.

[Jack]

Executive education and non degree certificates bring in 42% of Harvard's tuition revenue.

[Nick]

Whoa, that is a big number.

[Jack]

42%.

[Nick]

42%. But Yetis right now the headline news. America's oldest academic institution versus the Trump administration.

[Jack]

It's the biggest cultural showdown of the year and it's still ongoing.

[Nick]

Billions of government funding have been halted to the school.

[Jack]

The Trump administration alleges anti Semitism at Harvard, but it's also demanding oversight of all the faculty that the university hires.

[Nick]

And Albasti's Harvard, unlike some other Ivy League institutions, has resisted Trump's demands so far.

[Jack]

But the lack of government funding puts pressure on Harvard's other funding sources.

[Nick]

So we dove in T boy style to their other funding sources. Jack, what happens to be the part of Harvard University that's the most profitable?

[Jack]

It's not undergrads. No. It's not university merch.

[Nick]

No.

[Jack]

And it's not the Harvard versus Yale football game.

[Nick]

No, no, no, no, no. Their profit pup a specific program at Harvard's graduate school.

[Jack]

Executive education, executive training, continuing education, both online and in person. Those are Harvard's real profit puppies.

[Nick]

And they are printing crimson cash, baby.

[Jack]

Last week, Bloomberg went deep with this headline. Executive education for non traditional students brought in $600 million of revenue for Harvard last year.

[Nick]

That is up 3x from 20 years ago.

[Jack]

It now makes up 9% of Harvard's total revenue and 42% of tuition and fees.

[Nick]

Oh, Jack, you just went full goodwill hunting on those numbers.

[Jack]

And the reason this is a shocker is that this program is probably the least Harvard y of Harvard's businesses.

[Nick]

But interestingly, with Trump squeezing finances, the business y part of Harvard has become more important than ever.

[Jack]

Now let's sprinkle on some context. The programs we're talking about are courses you can take at Harvard and but you don't end up with a degree at the end. You end up with a certificate.

[Nick]

Some of these are one week retreats paid for by your company. And some of them are simply set up for celebrities.

[Jack]

Tyra Banks took one of these. In fact, how many celebrities have you seen standing next to that Harvard Business School sign to flex that they were like a guest lecturer or whatever?

[Nick]

We see you Channing Tatum, you already had 12 abs. Now you went to Harvard.

[Jack]

Now even though it's not a degree, you get a certificate instead of. You still put it on your resume, don't you, Nick?

[Nick]

But Jack, speaking of Good will hunting, can we dive into the price numbers please?

[Jack]

The price of these certificates is around $10,000 per student, even though you're only on campus for a few days.

[Nick]

And why is it a profit puppy? Exactly.

[Jack]

There is no financial aid for the senior vice president of Verizon. They're coming full tuition. Harvard charges full price.

[Nick]

But yetis, fascinatingly, it's not just the in person Harvard courses we're talking about. It's also the online ones.

[Jack]

You might have noticed the number of people list the word Harvard in their education section of their LinkedIn is soaring.

[Nick]

Because right now Harvard Business School's online certificates have 42,000 people enrolled with them.

[Jack]

Compare that to just 2,000 people for the full time in person MBA program.

[Nick]

And you know what? It's not just Harvard cashing in on its cachet right now, is it, Jack?

[Jack]

The Wharton School at University of Pennsylvania built a campus in San Francisco, the other side of the country, just for this executive education.

[Nick]

Yeah, Jack and I have been there. That's what it's mainly used for. Northwestern, their Kellogg school. They got 1,000 students in the full time business school, 22,000 in continuing ed.

[Jack]

So the ratio is like 20 to 1 for every one student there in person for the degree. There's 20 people, mostly online getting the certificate.

[Nick]

And honestly, pretty impressive, Jack, that they've scaled education to teach so many people about business. People who are ambitious and want to.

[Jack]

Learn more, people who are investing in Themselves to learn more, to do better at their job.

[Nick]

But as we too have both noticed, being at business school, there is a tension here, Right? Like a lot of full time MBAs think expansion hurts the degree's reputation.

[Jack]

LL Cool J brags about going to HBS, but he was there for a four day course.

[Nick]

Nick, at least write us a song about it. LL, come on, man. So, Jack, what's the takeaway for our buddies? Who are everyone packing the cat? Haven't yet.

[Jack]

Brands are like balloons. You can blow them up, but eventually they might pop.

[Nick]

Yetis, what Harvard is really doing is something many luxury companies do. They're simply testing the limits of their brand.

[Jack]

They're trying to find the balance between maximizing revenue and maintaining exclusivity.

[Nick]

You see, Harvard, it's a luxury product and we see luxury fashion doing this all the time.

[Jack]

Ralph Lauren must be exclusive so that their core customers are willing to pay a high price.

[Nick]

But Ralph Lauren actually has twice as many factory stores as it has regulars.

[Jack]

It's a similar model with Ivy League schools and their executive education programs. The schools are stretching the brand out like a balloon.

[Nick]

Now, balloons are fragile and balloons can pop. But even luxury brands know they gotta test the limits. For our second story. EBay, the oldest E commerce tech company still in business just hit an all time high stock price.

[Jack]

Ebay has survived the Amazon era by thriving where Amazon doesn't.

[Nick]

Okay, if we're gonna talk ebay, I know you've been itching to tell us about this ebay story. What's going on? What have you been buying these days?

[Jack]

Dude, two weeks from Saturday, I have a wedding where the dress code for men is bolo ties.

[Nick]

Oh.

[Jack]

So I found a bolo tie on ebay and dude, it's got a tiger's eye, which is one of the coolest rocks. I used to be a rock collector.

[Nick]

Jack, are you trying to steal attention away from the groom?

[Jack]

They said bolo tie, so I'm just trying to fit in.

[Nick]

Feels like a fit in flex, but I like it. Jack, Yeti's ebay. It is the o pioneer of e commerce.

[Jack]

And ebay actually became famous thanks to the Beanie Baby.

[Nick]

Get this. At one point, 10% of eBay transactions were for Beanie Baby stuffed toys.

[Jack]

Bucky the Bieber was for sale for 492 bucks on eBay. And that's how people discovered ebay in the 90s.

[Nick]

But besties, eBay even owned iconic tech brands you still know and love today.

[Jack]

Did you know that PayPal and StubHub were once eBay brands, but they got spun out and sold at some point.

[Nick]

Well, next month, eBay turns 30 years old. So you would be shocked to hear that ebay stock just hit an all time high.

[Jack]

Because when you think of ebay, you think pre Y2K, it's an ancient company in tech years.

[Nick]

And yet the way we think of it, it's like the tom cruise of tech. It's 63 and crushing it. I'm sorry, Jack, Let me rephrase that. It's the Nicole kidman of e commerce. 58 years old, doing her best work right now.

[Jack]

Although.

[Nick]

No although. No although, Jack. No although. And besties. One reason this is cause ebay is a trade war.

[Jack]

Haven collector's items, pre owned gems, those aren't subject to tariffs because they're getting shipped to you by some guy in Kansas.

[Nick]

You can't tariff a beanie baby. That's from 1998.

[Jack]

But a bigger reason for eBay stock being up 50% so far this year, it's specialization.

[Nick]

Specialization because if ebay tried to be an online everything store like Amazon, it would just be squashed like a cardboard box.

[Jack]

So instead, ebay is focused where Amazon isn't in specialty categories.

[Nick]

Pokemon cards, vintage cars, vintage car parts, even the trademark to fyre fest, they've all been sold on ebay.

[Jack]

Ebay just announced that their trading cards didn't just experience growth, Experienced growth, acceleration for the 10th straight quarter.

[Nick]

What about premium vintage? That's a booming category on ebay now as well.

[Jack]

Chapel roan was dressed from head to toe in pre owned stuff she got on ebay at the met gala.

[Nick]

But then ebay has gone further. They've now invested in technology for all these specialized areas.

[Jack]

Yeah, they have security measures to authenticate high ticket items and bring peace of mind to the buyer and the seller.

[Nick]

And ebay's gone even further than that. They've launched ebay live to get into media.

[Jack]

Ebay will go to a collector's convention and bring up like a tiger's eye and sell it in a live auction that you can stream online.

[Nick]

It's like antique roadshow, but it's streaming on ebay.

[Jack]

The result? Amazon sells millions of versions of billions of things. Ebay sells ones of a kind.

[Nick]

Stick that on a pillow, jack, and sell it on ebay. So, jack, what's the takeaway for our buddies over at ebay?

[Jack]

New metric alert. Enthusiasm.

[Nick]

Yetis. At our live show the other week in Chicago, we noticed something about our audience. Relentless enthusiasm.

[Jack]

Apparently it's not just yetis. And besties though, because ebay actually uses the word enthusiasm as an official metric in their earnings reports.

[Nick]

Like a tech financial metric. Get this, they've got 16 million enthusiastic buyers, which is defined as people who bought six things and spent $800 in the last six months.

[Jack]

EBay's focus on specialization has attracted special customers who have particular loyalty.

[Nick]

And that love has given ebay clearance to charge fees on track for 2 billion of profit just this year.

[Jack]

Ebay is the first company we've seen quantify enthusiasm.

[Nick]

And that tells the story of the entire business model.

[Jack]

I love you, Nicole Kidman.

[Nick]

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[Jack]

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[Nick]

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[Jack]

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[Nick]

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[Jack]

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[Nick]

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[Jack]

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[Nick]

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[Jack]

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[Nick]

Are at least in the 70s figures. Download the free ebook Navigating Global Trade. 3 insights for [e-mail] tboy for our third and final story, there's a strange phenomenon going on. The more big tech spends on AI, the more investors love them.

[Jack]

And then there's trickle down ainomics because their spending is someone else's earning and.

[Nick]

Will tell you who's hurting. But Jack, in order to describe this scene, do you remember the movie from Father of the Bride when they're spending on the wedding and like he's getting the bill and it's like the flowers, the food, the open bar all the costs are adding up.

[Jack]

Yeah. What's that actor's name? He's a silver fox now.

[Nick]

It was Steve Martin.

[Jack]

It was Steve Martin.

[Nick]

Steve Martin.

[Unknown]

Yeah.

[Nick]

Yeah. I feel like that was Big tech's earnings theme last week. Getting the bill for the wedding.

[Jack]

Except instead of being upset and nervous.

[Nick]

Like Steve Martin, investors are loving it. Yetis, last week, Meta, Microsoft, Apple, and Amazon, the biggie of the techies, each announced that they're spending insane amounts on AI.

[Jack]

But it's interesting. Each of those big tech companies are buying data servers and investing in engineers with a different AI goal.

[Nick]

Meta is focused on AI for consumers. Microsoft is focused on AI for businesses.

[Jack]

Amazon is focused on AI for robotics. And Apple.

[Nick]

Are they doing the car? What's going on over there, guys?

[Jack]

They're not doing a car.

[Nick]

But strangely, the more and more these fantastic four companies spend on AI, the more and more they get rewarded by Wall street.

[Jack]

Microsoft spent $30 billion this past quarter on data servers to compute AI.

[Nick]

Okay. Microsoft is on pace to spend 120 billion bucks this year on all that AI stuff.

[Jack]

With $120 billion in spending, Microsoft could have bought Nike or they could have.

[Nick]

Bought all 30 NBA teams.

[Jack]

Jack. We repeat with Microsoft's budget to buy data servers this year. Instead, they could buy all 30 NBA franchises, the whole league.

[Nick]

Yetis, Microsoft is burning through cash like a data center with no cooling.

[Jack]

And Wall street is partying like it's a wedding with an open bar. Franz.

[Nick]

But besties, this is what we found fascinating about this story. Wall street was loving every minute of it.

[Jack]

Microsoft stock jumped 10% after their earnings last week to hit a $4 trillion valuation for the first time ever.

[Nick]

And then the same thing happened over at Meta.

[Jack]

Yeah. Zuckerberg said he will spend $100 billion on capital expenditures for AI next year.

[Nick]

He could buy all the NBA teams too. In meta stock, it rose 11% after that announcement.

[Jack]

It's insane. Zuck said he's spending $100 billion, and then Wall street increased the value of his company by almost $200 billion.

[Nick]

And why is this illogicalness happening to us right now, Jack?

[Jack]

Because even though the spending on Capex is growing rapidly, revenue growth is growing even more rapidly.

[Nick]

That's right. Despite all those splurges we mentioned, Meta and Microsoft also announced their best ever second quarter of profits ever.

[Jack]

Meta's insane consumer tech apps and Microsoft's.

[Nick]

Insane business tech apps are funding beyond insane spending on AI for the future.

[Jack]

I guess Bill Gates is the father in this. Father and the bride.

[Nick]

I See it? I see it, Jack. So what's the takeaway for our buddies who are everyone in Big Tech?

[Jack]

Their spending is someone else's revenue.

[Nick]

Yetis the under the radar winners of this economy. It's the entire AI supply chain that you never think about.

[Jack]

They're selling the shovels to the big tech companies who are doing the AI gold rush.

[Nick]

Top of the list, the AI chip makers like AMD and Nvidia.

[Jack]

But all those chips have to go into servers which are built by Super Microcomputer and Dell.

[Nick]

But Jack, all those servers need utility lines and power plants which are another booming sector related to AI besties.

[Jack]

In the next year, the top five AI companies will spend $400 billion on capital expenditures.

[Nick]

We have to sprinkle on some context here. Big Tech is driving a literal economic stimulus with that money because 4 billion.

[Jack]

In spending, that's half the size of the 2009 recovery bill that Congress passed to get us out of the financial.

[Nick]

Crisis to boost the entire economy.

[Jack]

We're talking five companies spending money on a level of like the entire United States government.

[Nick]

And the result is what Jack and I call trickle down Ainomics.

[Jack]

Their capex spending is someone else's earliest.

[Nick]

Jack, could you whip up the takeaways for us to kick off the week?

[Jack]

Harvard University generates 42% of its tuition and fees from non degree executive education programs.

[Nick]

The profit puppies brands, they are like balloons. You can blow them up, but they also can pop.

[Jack]

For our second story, eBay stock is at an all time high as they've specialized in places that Amazon won't touch.

[Nick]

And it's turned customer enthusiasm into a metric that's also at an all time high.

[Jack]

And our third and final story. Big Tech is getting rewarded for all their AI splurging. The more they spend, the higher the stock price.

[Nick]

And it's also an example of trickle down Ainomics. Their spending is someone else's revenue.

[Jack]

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

[Nick]

First, President Trump fired the Commissioner of Labor Statistics after a weak jobs report came out for July.

[Jack]

Here's the data that Trump didn't like. The US economy only added 106,000 jobs combined in the last 3 months, which.

[Nick]

Would be our worst 3 month stretch in years. And President Trump didn't like seeing that.

[Jack]

Now, the woman Trump fired was appointed by Joe Biden. And Trump said without evidence that she's been manipulating the data.

[Nick]

It's troubling news that could make America look more like China. Where the data looks more like propaganda.

[Jack]

For our second story. If you have a Rolex watch on your Christmas list, you may not be getting it anymore.

[Nick]

Yeah, Friday was tariff day and President Trump shocked Switzerland with a a 39% tariff was bigger than most people expected.

[Jack]

And yes, watch retailers have said that they will pass on watch tariffs into the prices that we pay.

[Nick]

So for this Christmas, maybe it's more of like a buy now, half the watch for Christmas, half the watch for your birthday, pay later kind of a situation.

[Jack]

And finally, the NFL and ESPN are on the verge of a blockbuster deal that would make Babe Ruth blush.

[Nick]

ESPN would acquire the NFL Red Zone channel and the NFL Network and then.

[Jack]

Bundle both of those football channels into their ESPN ESPN streaming app.

[Nick]

The official announcement is expected later this week, so we'll update you on the deets and let you know what happens to ESPN the old show. Now time for our best fact yet, which because it's Monday means T Boy Trivia. Jack, what do we got today?

[Jack]

What product has been referenced in more rap songs than any other product?

[Nick]

We repeat, this product has more name drops in rap than any other brand.

[Jack]

Snoop name drops it. Nas name drops it. Jay Z name drops it.

[Nick]

Honestly, this product is the only thing Kendrick Lamar and Drake actually agree on.

[Jack]

Here's a clue to the product we're referring to. We're actually gonna do a fill in the blank.

[Nick]

This is a lyric from a Tupac song. Forget that gin and juice Just pour me a glass of that blank.

[Jack]

And here's a lyric from a Kendrick Lamar song. I used to sip blank with jealousy in my bones trying to keep up But I only got a loan so.

[Nick]

What is that blank? What is the most popular brand mentioned in rap? Drop an answer in the comments and we'll reveal it tomorrow. Yetis, you look fantastic today. And if you're a new listener, we'd love to hear from you first. Tap to follow the show so you get us every day. But then tap the survey that we have in today's episode description.

[Jack]

We have a new listener survey that's gonna always be in the show notes and we'd love to learn more about you and how you found the show.

[Nick]

It only takes two minutes. And if you don't know what an IBO is because you're new to the show.

[Jack]

Well, it's an initial baby offering.

[Nick]

It's an initial baby offering. It's an initial baby offering. Jack and I will see you tomorrow. And before we go, a happy birthday to Yeti Amma Simonovsky from New York city who's had an annual T boy shout out traditional for so many years now. Anna, fantastic to have you with us as a YETI.

[Jack]

Happy 30th birthday to Clarissa in San Diego, California.

[Nick]

And Coach Weber's got the 10 year anniversary as the head wrestling coach in Erie, Kansas. Getting them in that chokehold. There you go, coach.

[Jack]

You know I can still do a figure four leg lock from my WWF fan days.

[Nick]

I think the lacrosse team's bigger than that. Jack.

[Jack]

Congratulations to Brady Johnson for the promotion and relocation to Canada. This is a long time yeti who's converted so many people in the office to listen.

[Nick]

Love those hyh tvois. Oh, and besties. I'm heading to Santa Cruz for the first time this weekend. If anyone's got some recommendations, let us know. We'd love to add them to the list.

[Jack]

And to anyone else who's celebrating something today, make it a T boy.

[Nick]

Celebrate the wins.

[Jack]

This is Jack. I own stock at Amazon and Nick and I both own stock and Apple. If you like the best one yet, you can listen ad free right now by joining Wondery plus and the Wondery app or on Apple podcasts.

[Nick]

Prime members can listen ad free on Amazon Music. And before you go, tell us a.

[Jack]

Little bit about yourself by filling out a short [e-mail] survey we want to.

[Nick]

Get to know you.

[Unknown]

Shopify's point of sale system helps you sell at every stage of your business. Need a fast and secure way to take payments in person? We've got you covered. How about card readers you can rely on anywhere you sell?

[Jack]

Thanks.

[Unknown]

Have a good one. Yep, that too. Want one place to manage all your online and in person sales? That's kind of our thing wherever you sell. Businesses that grow grow with Shopify. Sign up for your $1 a month [e-mail] listen shopify.com listen.