🏒 “Less Taxes, More Trophies” — Florida’s hockey strategy. Chase Sapphire’s $795 fee. Roblox’s Farmville 2.0.

Summary

The Best One Yet Podcast Episode Summary

Title: 🏒 “Less Taxes, More Trophies” — Florida’s Hockey Strategy. Chase Sapphire’s $795 Fee. Roblox’s Farmville 2.0.

Release Date: June 18, 2025

Hosted by Jack Crivici-Kramer and Nick Martell from Nick & Jack Studios, this episode of The Best One Yet delves into three significant business stories: the substantial fee increase for the Chase Sapphire Reserve credit card, Roblox’s latest gaming achievement with "Grow a Garden," and the intriguing link between Florida's low state income taxes and its success in the NHL Stanley Cup Finals. The hosts provide in-depth analysis, insightful commentary, and memorable quotes to unpack these topics.

---

1. Chase Sapphire Reserve Increases Annual Fee to $795

Overview: The episode kicks off with a detailed examination of Chase Sapphire Reserve, a popular credit card among millennials, which has recently hiked its annual fee by 45%, raising it to $795.

Key Points:

• Annual Fee Increase: The increase from $550 to $795 represents a significant rise, described by Nick as a "fat tip" akin to a hefty rent check. (**[05:31] Nick)

• Perks and Benefits: Despite the higher fee, Jack argues that the card still offers substantial value. The card includes:

  • $300 in restaurant credits via OpenTable
  • $300 in entertainment credits through StubHub
  • $250 in free Apple TV and Apple Music perks
  • $300 travel fee credit for seat upgrades, checked bags, etc.

  Combined, these perks amount to $1,150 in value, potentially offsetting the annual fee for high spenders. (**[07:16] Jack)

• Swipe Tax Implications: The hosts discuss how Chase benefits from a 2% fee on every swipe, likening it to an "alt tax" that impacts the broader economy. This model is part of a larger trend where credit card companies use fees to generate revenue, indirectly taxing consumers. (**[09:12] Nick)

Notable Quotes:

• “Chase is increasing the annual fee for their premier card from $550 a year to $795.” (**[05:31] Nick)
• “It's basically cheaper than your parents' country club, but it's actually the lifestyle you're living right now.” (**[07:42] Nick)

Takeaway: For high spenders, especially those invested in travel, the Chase Sapphire Reserve's elevated fee remains justifiable due to its extensive perks. However, the increase underscores a broader economic trend where alternative taxes, such as swipe fees, play a significant role in consumer finance.

---

2. Roblox’s "Grow a Garden" Sets New Concurrent Users Record

Overview: Shifting focus to the gaming industry, Jack and Nick highlight Roblox's latest success with the game "Grow a Garden," which recently set an all-time record for the most concurrent users.

Key Points:

• User Engagement: "Grow a Garden" reached 16.4 million concurrent users, surpassing previous records held by major games like Fortnite and Mario Kart. This number is larger than the populations of Pennsylvania, Ohio, or Guatemala. (**[10:55] Jack)

• Game Mechanics: Similar to Farmville, players plant digital seeds, manage virtual plots, and expand their farms into ranches or jungles. The game encourages regular engagement, as leaving it unattended leads to virtual weeds and overgrowth. (**[11:17] Jack)

• Demographics: A significant 35% of the players are under the age of 13, highlighting Roblox's strong appeal among younger generations. This demographic penetration has contributed to the platform's growth and stock performance, which has nearly tripled over the past year to a valuation of $70 billion. (**[13:01] Nick)

• Metaverse Implications: Jack describes Roblox as a metaverse where shared experiences occur online, much like traditional town squares but divided by age groups. This shift represents the evolving nature of communal interactions in the digital age. (**[12:14] Nick)

Notable Quotes:

• “Roblox just confirmed they have this all-time record because on Saturday, 16.4 million concurrent users played Grow a Garden at the same time.” (**[10:55] Jack)
• “It's a virtual world where you live and you play online. Frankly, we see it as the first metaverse.” (**[12:14] Nick)

Takeaway: Roblox's "Grow a Garden" exemplifies the platform's ability to create shared online experiences, catering especially to younger audiences. This success not only boosts Roblox's financial standing but also reinforces the significance of virtual communities in today’s social landscape.

---

3. Florida’s Hockey Success Linked to Low State Income Taxes

Overview: The final story explores the unexpected correlation between Florida's absence of state income tax and the sustained success of its NHL teams in the Stanley Cup Finals.

Key Points:

• Team Performance: Florida-based teams like the Florida Panthers and Tampa Bay Lightning have made the Stanley Cup Finals for five consecutive years. (**[17:12] Jack)

• Tax Advantages: Players in Florida benefit from 11% higher after-tax income compared to their counterparts in states with income tax, such as New York. This financial incentive attracts higher-paid free agents, strengthening team rosters. (**[18:25] Jack)

• Economic Impact: The hosts draw parallels between Florida’s attractiveness to star players and the migration of financial firms from high-tax states like New York to Florida. The financial advantages lead to better team performance and more championships. (**[19:17] Jack)

• Broader Implications: This trend extends beyond hockey, influencing other sports where teams in low-tax states perform better due to financial perks attracting top talent. (**[19:07] Nick)

Notable Quotes:

• “Teams with the most wins are from states without income tax.” (**[18:12] Jack)
• “No taxes, more trophies.” (**[19:07] Nick)
• “High tax states are stuck in the penalty box. But low tax states lift the cup.” (**[19:15] Jack)

Takeaway: Florida's lack of state income tax provides a significant financial advantage to its NHL teams, making it easier to attract and retain high-earning players. This economic strategy results in enhanced team performance and greater success in the Stanley Cup Finals, highlighting how tax policies can directly influence competitive outcomes in professional sports.

---

Additional Insights

Shared Online Experiences: Throughout the episode, Jack and Nick emphasize the evolving nature of shared experiences. While traditional communal activities have diminished due to personalized social media feeds, platforms like Roblox and gaming communities continue to foster large-scale, shared interactions online. This shift diversifies the way different generations connect and engage collectively.

Economic Models and Alternate Taxes: The discussion on "alt taxes"—fees collected through credit card swipes and app store transactions—highlights how these hidden costs influence consumer behavior and corporate strategies. These alternative revenue streams benefit large corporations while subtly impacting individual finances.

Notable Quotes:

• “Show me an incentive and I'll show you an outcome.” (**[19:31] Jack) – Reflecting on how financial incentives shape team success.
• “But yetis, here's the question. If the costs of the perks and the points is more than the revenue the company gets with the annual fee, why would Chase offer this card?” (**[08:44] Jack) – Exploring the business rationale behind high-fee credit cards.

---

Conclusion

In this episode of The Best One Yet, Jack and Nick provide a comprehensive analysis of how financial strategies and digital trends shape modern business landscapes. From premium credit card fee structures and the rise of virtual gaming communities to the economic advantages driving sports success, the hosts offer valuable insights into the interconnectedness of finance, technology, and culture.

Final Takeaways:

1. Chase Sapphire Reserve's Fee Increase: Highlights the ongoing trend of alternative taxation methods impacting consumer finance and corporate revenue models.
2. Roblox’s User Engagement: Demonstrates the enduring importance of shared online experiences, especially among younger demographics, in driving platform growth and financial success.
3. Florida’s Hockey Dominance: Illustrates how low state income taxes can strategically enhance organizational performance by attracting and retaining top talent.

By weaving together these stories, Jack and Nick underscore the multifaceted ways in which economic policies and digital innovations influence both consumer behavior and organizational outcomes.

---

For those interested in diving deeper into these topics, stay tuned for future episodes where Jack and Nick continue to unpack the latest in pop-biz news with their signature blend of analysis and humor.

Transcript

[Jack]

This is Nick, this is Jack.

[Nick]

It's Wednesday. CEVICHE Wednesday, June 18th. And today's pod, out of all the pods, is the best one yet. It's a T, boy.

[Jack]

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

[Nick]

Yetis. We just got off the mics for an interview with an Epic Tech CEO. His company turns 20 years old this weekend.

[Jack]

Yesterday, we asked you to guess which company that is.

[Nick]

And what's the answer, Jack?

[Jack]

Reddit.

[Nick]

Reddit. That's right. We interviewed the CEO of Reddit, the co founder, Steve Huffman.

[Jack]

We talked about social media, artificial intelligence, and how Steve Huffman uses classical ballroom dancing to run his company.

[Nick]

True story. That whole Reddit interview we're dropping right here on Friday. But in the meantime, Jack, today's pot is the best one we've ever done. What are the three stories for today's T boy?

[Jack]

For our first story, Chase Sapphire Reserve, the ultimate millennial credit card just went.

[Nick]

Crazy because Chase increased their annual fee to 795 bucks. So we did the aluminum math for you.

[Jack]

For our Sapphire Res. Second story, it's Roblox. The video game platform for teens has seen its stock nearly triple in the past year.

[Nick]

And it's all thanks to one game. Grow a garden. It's farming for fake plants, basically. Farmville 2.0.

[Jack]

And our third and final story, there's a strange phenomenon in the Stanley cup finals of ice hockey. Yes, Florida teams keep winning, and it's really annoying. Yeah, it is. But it turns out lower taxes means more trophies.

[Nick]

Yes, it does.

[Jack]

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

[Nick]

What a mix of stories for ceviche Wednesday. Love the mix today, Jack.

[Jack]

Do you smell that? Do you taste that?

[Nick]

I mean, Jack, I think I can feel that.

[Jack]

I think it's guava.

[Nick]

It is guava. Because yetis the biggest trend across every single industry this summer is guava.

[Jack]

Guava, the tropical fruit that's technically a berry. It's grown in Central and South America, and it's probably not at my local grocery store. Cause I'm too far north.

[Nick]

Guava. It looks like a pear on the outside, but nothing like a pear on the inside.

[Jack]

Nothing like a pear on the inside.

[Nick]

Don't call it a pear.

[Jack]

It's a sensual fruit. And apparently guava is the sweetest fruit in capitalism right now.

[Nick]

Because guava snacks, guava fragrance, and even guava technology are all trending.

[Jack]

Get this. Videos referencing guavas on social media are up 76% this year.

[Nick]

Get this. Google searches for Guavas are up 1000% since last year.

[Jack]

First, it started with food with guava flavored candy and a Dunkin Guava refresher drink.

[Nick]

Hey, Darlene, make it a day. Double guava for me.

[Jack]

Then it jumped over to the beauty industry with guava perfume and lip liner sold at Sephora.

[Nick]

Jack, there's even now a fintech company called Guava that just raised venture capital money.

[Jack]

The newest streamer, Guava Plus.

[Nick]

Forget hot girl summer. It's hot guava summer, baby.

[Jack]

But there's no way the guava trend has leaped into AI. Has it, Nick?

[Nick]

Actually, Jack, it has.

[Jack]

Oh, boy. Guava Health just launched an AI Chatbot.

[Nick]

And it's called Guava AI Yeties.

[Jack]

Maybe it's the vitamin C, or maybe.

[Nick]

It'S just fun to say.

[Jack]

But either way, we know one thing.

[Nick]

Pineapple is jealous because Guava is the new Gucci Zuckerberg.

[Jack]

When are you gonna launch the Guava app? Here we go.

[Nick]

Jack. It's not Instagram. It's Guavagram. Let's hit our three stories.

[C]

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 atlas. If you know, you know. Cause we ripped go. We can't wait no more. So just start the show, Start the show.

[Nick]

Start the show. First, a quick word from our sponsor.

[Jack]

IBM Yeti.

[Nick]

Bigger isn't always better, especially with AI. Super sized models can drain your budget fast.

[Jack]

Smaller ones are smart and can help cut AI costs by up to 90%. So, right. Size your [e-mail] the AI built for business. IBM Monarch money.

[Nick]

All right, Jack, can I tell you about my smh?

[Jack]

What is that?

[Nick]

It stands for my stupid Money habit. You ready for this? I just realized I spent $412 last month on taxis.

[Jack]

Nick, that's a car payment. I know.

[Nick]

I could have probably just bought another car at this point.

[Jack]

Now Nick only realized how much he spent on Uber's lifts and yellow cabs thanks to Monarch Money.

[Nick]

Monarch. It isn't just a budgeting app. It is like a personal cfo.

[Jack]

Now, I'm using Monarch Money, too. My favorite.

[Nick]

Yes, Jack.

[Jack]

I've actually retired my net worth spreadsheet. Seriously?

[Nick]

Really?

[Jack]

Because I have every single financial account I own linked to Monarch Money.

[Nick]

You can immediately see your net worth because Monarch Money refreshes all your account balances instantly.

[Jack]

So to help you track and build your net worth, Monarch Money is offering 50% off your first year. For listeners of this pod.

[Nick]

And it's not just us. Over a million households already use Monarch Money.

[Jack]

The Wall Street Journal already named it the best budgeting app of 2025. We're not even halfway through the year.

[Nick]

No, we're not. And I think I just spent 10 more dollars on a taxi. Get control of your overall finances with Monarch Money.

[Jack]

Even though Nick apparently can't use Code.

[Nick]

T [e-mail] in your browser for half.

[Jack]

Off your first year, that's 50% off your first year. If you go to monarchmoney.com and use code T boy.

[Nick]

For our first story, the Chase Sapphire Reserve. It just increased its annual credit card fee 45% to 795 bucks.

[Jack]

795 bucks. So, Yetis, we just went full Oppenheimer on the math of whether that fee is worth it.

[Nick]

Yetis, if you are under the age of 45, then you have pledged allegiance to a different credit cult. I mean club, I mean card. Sorry, Jack.

[Jack]

This is a heavyweight boxing match for high end millennial credit card loyalty.

[Nick]

In the red corner, weighing in at $750 billion, is JP Morgan Chase, aka America's Most Valuable bank, run by Jamie Dimon.

[Jack]

And in the blue corner, weighing in at $200 billion, is American Express, America's most platinum of all the credit cards, AKA Amex.

[Nick]

And for years, it has been an arms race to offer the best credit card perks. But Chase just went nuclear.

[Jack]

Here's the news. Chase is increasing the annual fee for their premier card from $550 a year to $795.

[Nick]

Jack, that's a 40, 45% surge.

[Jack]

Safe to say 45% is higher than.

[Nick]

Inflation and it's probably higher than your buddy Timmy's rent. So Jack and I added it up and we decided to do the plastic pointonomics, the swipe science, the miles math for you.

[Jack]

And despite that annual fee that's the size of a rent check, we think that card pays for itself easily.

[Nick]

For most people, it's basically like outsourcing a butler. So. So, besties, here's how we're doing this. If you spend a lot of money on things, especially on travel, then a premium credit card, it's basically a no brainer.

[Jack]

On the break even, 795 bucks a year is a lot. But the dollar value of all the perks you get more than offset the annual fee.

[Nick]

Jack, why don't you hit the whiteboard for us? What kind of numbers are we looking at?

[Jack]

This card includes $300 of credits for restaurants through Open Table and $300 of credits for entertainment through StubHub. And $250 of value in free Apple TV and Apple Music perks, plus a.

[Nick]

300 do travel fee credit that pays for your seat upgrade, your checked bag fee, whatever, while you're on the go.

[Jack]

So for those keeping track, which is Nick and me, we don't expect you to be. That's $1,150 worth of perks right there.

[Nick]

It's basically cheaper than your parents country club, but it's actually the lifestyle you're living right now.

[Jack]

So there you go. You just paid for the annual fee. But then you gotta include the points, right?

[Nick]

We did the perks. What about the points, Jack?

[Jack]

This card gives 8x points for travel that you book directly with an airline or a hotel.

[Nick]

Okay, so like $10,000 in travel spending, that's equal to what, Jack?

[Jack]

$800 of points, plus you get lounge access.

[Nick]

But besties, pause the pod for a sec because Jack and I used to work in finance and we know about finance. You always gotta check the fine print. So, Jack, what's the catch?

[Jack]

You gotta spend at least $75,000 a year to unlock the premium perks.

[Nick]

So add it all up, besties. And if you are already spending $6,000.

[Jack]

A month or $75,000 a year on.

[Nick]

Your credit card, then. Then this card pays for.

[Jack]

So if you're a couple of dinks with that amount of joint spending, one of you is texting the other this link to this episode.

[Nick]

Yeah, we have two of these cards, Jack, and right now I feel like I'm overdinked.

[Jack]

Yeah, I don't think you should have both cards, Nick.

[Nick]

Hey, Molly.

[Jack]

We gotta have a conversation, but yetis, here's the question. If the costs of the perks and the points is more than the revenue the company gets with the annual fee, why would Chase offer this card?

[Nick]

I mean, Jack and I have covered a lot of annual reports for these credit card companies. And why does Amex Capital One, literally every financial institution do something similar with a primo card?

[Jack]

It sounds like a loss maker for the credit card companies until you consider our takeaway.

[Nick]

Is it a lost llama or a profit puppy? So, Jack, what's the takeaway for our buddies at Chase? Sapphire?

[Jack]

Alt. Taxes are taking over the economy.

[Nick]

Yetis the swipe tax, the app tax. Those are two of the biggest hidden costs in our economy, they're hidden because.

[Jack]

Businesses pay them, not consumers. But the costs trickle down to us eventually.

[Nick]

Follow us on this one. The App tax is what Apple and Google collect. They take 15 to 30% of all money spent through their app stores.

[Jack]

And the swipe tax is what credit card companies collect. They take a 2% fee on every swipe.

[Nick]

And Jack and I would take a gander that American commerce is mostly paid on mobile phones and credit cards. That's the majority of payments.

[Jack]

Therefore, the app tax and the swipe tax are truly like taxes on this economy that we all pay.

[Nick]

But here's the Instead of going Uncle Sam, those alternative taxes go to a dozen tech and finance companies that control them.

[Jack]

So the reason JP Morgan is happy to offer crazy valuable credit card perks, it's because they collect a 2% fee on everything.

[Nick]

Besties, the alt taxes. They are taking over our economy. For our second story, a video game on Roblox just set an all time record for most people playing at the same time.

[Jack]

It's proof that the town square hasn't disappeared, it's just moved over to Roblox's garden.

[Nick]

Now, Jack, how about we kick off this story with a little bit of T Boy trivia? You've got the honors.

[Jack]

What is the all time record for most video gamers playing the same game at the same time?

[Nick]

Well, it's not Pokemon, Goldeneye, Fortnite, or Mario Kart. Despite six of your roommates playing on the same couch at the same moment.

[Jack]

Roblox just confirmed they have this all.

[Nick]

Time record because on Saturday, 16.4 million concurrent users played Grow a Garden at the same time.

[Jack]

That is a population playing Grow a Garden that's bigger than Pennsylvania, Ohio or Guatemala.

[Nick]

But wait, Jack, I gotta ask. What exactly is Grow a Garden?

[Jack]

It's Gen Alpha's version of farmville.

[Nick]

Yeah, yeah, it really is. Why don't you walk us through it a bit, Jack?

[Jack]

If you play Grow a Garden on Roblox, first you have to plant some digital seeds on your digital plot of land.

[Nick]

And if you're ambitious, you turn the farm into a ranch by purchasing and raising a heifer or two, whatever a heifer is.

[Jack]

You can also grow a jungle. And then, Nick, if you like, leave the game for a week and don't check it out. You'll come back and be like, wow, I need to weed my garden. Because there's weeds everywhere.

[Nick]

Apparently the corn grows like rabbits over there. Basically Yetis. It's a rollercoaster tycoon game, but for.

[Jack]

Forests and 16.4 million people were playing it at the same time last Saturday.

[Nick]

But, Jack, can we please just sprinkle on a little bit of context here?

[Jack]

Yeah, how about, what is Roblox?

[Nick]

Roblox is a video game platform that requires no console.

[Jack]

Unlike Nintendo, you can play on your phone, your computer. All you need is an Internet connection.

[Nick]

So Roblox characters, you've seen them, they're blocky looking, they're charming in their lack of definition.

[Jack]

They're like digital Legos.

[Nick]

Roblox, it's not just a video game. It's a virtual world where you live and you play online. Frankly, we see it as the first metaverse.

[Jack]

When Zuckerberg renamed Facebook to Meta, Roblox was the only competitor in the Metaverse space.

[Nick]

Which feels like it's about now that you should share your full disclosure, Jack.

[Jack]

Yeah, I invested in Roblox because I wanted a metaverse play, but I didn't want to invest in Meta.

[Nick]

Yeah, you were doing some emotional investing, weren't you, Jack?

[Jack]

Which I do way too much of.

[Nick]

You would have gotten a better ROI if you weren't as emotional with the investing.

[Jack]

Right? If I had invested in Meta instead, I'd be like a lot richer.

[Nick]

Because Bestie's Roblox stock collapsed after the pandemic was ending. Because people preferred the real world to the virtual world.

[Jack]

But Nick, the stock has roared back. It has nearly tripled in the past 12 months and is now close to 2021. All time highs.

[Nick]

Get this, Roblox is now worth 70 billion bucks. That's like 11 lifts right there.

[Jack]

Roblox is worth more than Electronic Arts and Take two, the two leading video game studios.

[Nick]

The virtual tables have really turned, Jack.

[Jack]

And here's the wildest part. 35% of the players playing Grow a Garden are under the age of 13.

[Nick]

Although like a 13 year old, Roblox isn't profitable yet.

[Jack]

Yeah, Roblox is basically living off of Wall Street. Actually off of my allowance.

[Nick]

Yeah, Jack's still down on that investment.

[Jack]

Hey, that's not true. No, I'm up a little bit. It's almost tripled in last year.

[Nick]

We all appreciate a little bit of rounding. So, Jack, what's the takeaway for our buddies over at Roblox?

[Jack]

Society needs shared experiences. We still have them. You just don't see them.

[Nick]

Ah, shared experiences. Yet it is. From the super bowl to the Oscars. The shared experience is what ties a culture together.

[Jack]

But with the rise of personalized social media feeds, we don't have shared experiences anymore. We've lost our common understanding of what's happening in the world.

[Nick]

The shared experience used to happen in the town square, and then it happened on broadcast TV channels.

[Jack]

And while those shared experiences appear gone, we think you can still find them. And they're still happening. It's just online. And it's divided by age group.

[Nick]

Like that 16.4 million humans playing grow a garden on Roblox. That's the population of Gen Alpha. That's triple the population in New Zealand.

[Jack]

And how about Gen Z? They all see the same memes on TikTok. Millennials were sharing the same experiences on Instagram.

[Nick]

Gen X's shared experiences on Facebook. And Boomer shared experiences on cable tv.

[Jack]

Still.

[Nick]

Still. Yetis. We all still have shared experience, but they're just memeified. They're online and they're borderless. Now, a quick word from our sponsor.

[Jack]

The best one yet is sponsored by BetterHelp.

[Nick]

All right, Jack, let me set the scene for you. My birthday dinner. We did a pizza party. I rented out a whole spot called the Dough Room in San Francisco. You mess with the pizza dough while you make it.

[Jack]

I know. And then what comes next is the most San Francisco thing ever. Basically group therapy over dinner.

[Nick]

So all three people on my side of the table were in therapy and all of us were talking about each other's therapy. You know, like one person was saying how their therapist helped them through a co worker battle. Another was talking about the future of fatherhood with their therapist. They were stressed about becoming a dad.

[Jack]

It's not just San Francisco. Society's views on therapy have changed across the world. True, it's evolved to the point where you had a birthday dinner, learning from each other's therapy sessions.

[Nick]

Well, BetterHelp is an easy way to take that leap and find the therapist for you.

[Jack]

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[Nick]

As the largest online therapy provider in the world, BetterHelp can provide access to mental health professionals with a diverse variety of expert it out. With BetterHelp, our listeners get 10% off their first month at betterhelp.com t boy that's BetterHelp.

[Jack]

H-E-L-P.com t boy this podcast is sponsored by Northwestern Mutual Yetis.

[Nick]

Lots of financial companies want to talk to you, but Northwestern Mutual wants to listen to you.

[Jack]

Some companies say they have all the answers, but Northwestern Mutual has better questions.

[Nick]

Yeah, the financial pros, they are going to ask you questions about your financial situation that honestly, you never asked yourself a Big one.

[Jack]

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[Nick]

Because that's how Northwestern Mutual designs a strategy that'll be uniquely yours. So come lie down on the couch. Find a better way to [e-mail] that's.

[Jack]

Nm.Com the Northwestern Mutual Life Insurance Company Milwaukee, Wisconsin.

[Nick]

For our third and final story, there's something strange going on in the Stanley cup finals of hockey. Florida keeps winning.

[Jack]

The reason a state with no ice is best at ice hockey? Income taxes.

[Nick]

Yetis, in order to tell this story, let's go back to April 2012. The New York Rangers beat the Ottawa Senators game seven at the Garden. You and I were there.

[Jack]

Yetis. I've been to the Garden like seven times. Each time Nick hooked me up with a ticket. It's an amazing experience for a big sports fan like me.

[Nick]

Well, besties, right now you got the Stanley cup finals. Florida Panthers vs. The Edmonton Oil tonight.

[Jack]

Florida could win tonight in game six or game seven tomorrow.

[Nick]

And this has become a geopolitical battle, has it not, Jack?

[Jack]

Because on one side you got Florida, President Trump's home state and on the other side you got Canada, Trump's 51st.

[Nick]

State for that reason. For Edmonton, winning is a matter of national security.

[Jack]

But here's a strange statistic. No Canadian team has won the Stanley cup in 32 years.

[Nick]

Okay, but here's a stranger statistic.

[Jack]

A team from Florida, the Panthers or.

[Nick]

The Lightning, has made the finals for five straight years.

[Jack]

Those two data points and the absence of natural ice in Florida were enough for us to notice a pattern.

[Nick]

Again, the only thing cold in Florida is your frappuccino. So Yetis, as Mark Messier is our witness, Jack and I jumped in t boy style and we discovered this wild insight.

[Jack]

Your hockey team successful is influenced by the taxes you pay.

[Nick]

Or to put the puck more precisely, teams with the most wins are from the states without income tax.

[Jack]

Here's the numbers. There are six NHL teams that reside in income tax free states like Florida, Oregon and Nevada.

[Nick]

So those players in those six teams pay federal income taxes, but they don't pay any state income tax.

[Jack]

So players from these six teams that don't pay income taxes earn 11% more after tax pay than players from the other 26 teams.

[Nick]

What you're saying, Jack, is a Florida Panther with the same salary as an Anaheim Duck effectively gets paid 11% more.

[Jack]

Gretzky said follow the puck. But like crypto bros during the pandemic, hockey players are following i95 down to Florida.

[Nick]

Yeah, Free agents, They're employees where they get paid the most. It matters a lot.

[Jack]

So just like New York City lost financial firms to Florida during the pandemic.

[Nick]

The New York Rangers have lost more players to the Tampa Bay Lightning than.

[Jack]

Other team because the same salary in Florida goes 11% further than in New York City.

[Nick]

And Jack, what's the result when we add it all up?

[Jack]

Non tax states are 18% of all NHL teams, but they represent 30% of the playoff spots.

[Nick]

Four of the last five Stanley cup champions didn't pay a penny in state income taxes.

[Jack]

Holy Gordy Howe.

[Nick]

High tax states are stuck in the penalty box. But low tax states lift the cup. So Jack, what's the takeaway for our buddies over in the business of sports?

[Jack]

It's a quote from Charlie Munger. Show me an incentive and I'll show you an outcome.

[Nick]

Yetis, turns out it ain't just hockey goalies migrating across state lines for this incentive. It's actually all of sports.

[Jack]

Why do you think LeBron went from Cleveland to Miami? And why do you think Tom Brady went from Boston to Tampa Bay?

[Nick]

Free agent Brady? It's been his last season with the San Francisco 49ers. He would have lost 3 million bucks in taxes.

[Jack]

We see the phenomenon of no income tax equals more trophies in every league except Major League Baseball.

[Nick]

Good point, Jack. Because there's no salary cap in baseball, so the rich Yankees and Dodgers can offset higher taxes with higher salaries.

[Jack]

Charlie Munger once said, show me an incentive, I'll show you an outcome.

[Nick]

Well, low income taxes incentivize people, especially high income people, to come earn more money.

[Jack]

So the outcome is that teams in low tax states are winning more trophies.

[Nick]

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

[Jack]

Chase Sapphire Reserve jacked up their annual fee by 45% to $795 and they make 2% on each swipe. Ah, the swipe tax.

[Nick]

It's one of the two alt taxes taking over our economy.

[Jack]

For our second story, Roblox's grow a Garden game just set a record for Most concurrent users. 16.4 million people besties.

[Nick]

We still have shared experiences. They're just and divided by age and group.

[Jack]

And our third and final story, if the Panthers win another game, then six of the last seven Stanley Cups will be won by teams that don't pay state income taxes.

[Nick]

No taxes, more trophies. As Charlie Munger said, show me an incentive and I'll show you an outcome.

[Jack]

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

[Nick]

First, stocks dipped yesterday, likely on concerning developments about the Middle East.

[Jack]

The president left the G7 meeting to deal with an escalating conflict, conflict between Iran and Israel.

[Nick]

And then on Tuesday, Trump threatened Iran's supreme leader, demanding an unconditional surrender.

[Jack]

That raised concerns that the US May get involved in another Middle Eastern war.

[Nick]

And investors don't like it. And second, Mark Zuckerberg just made his most controversial move of the year. Guess what? He's adding ads to WhatsApp.

[Jack]

WhatsApp, the messaging app with 1.5 billion users, mostly international users. It's owned by meta since 2014.

[Nick]

I mean, I guess, Jack, this would be like if Apple dropped ads in your imessages and then started making money off of all those emojis.

[Jack]

Can you imagine if I got a mattress ad in between my message to you?

[Nick]

Users hate the idea of getting spammed in their DMs, but investors dig it. Meta stock is up 2%.

[Jack]

And finally, last month we told you that Tinder was testing out, letting you filter your potential dates based on their height.

[Nick]

Take it from a couple guys right here who are six foot one. That was shocking.

[Jack]

That is such an embarrassment.

[Nick]

I love it. You gotta round up on the rounds. But yet, he's the newest update from Tinder. Tinder is double dates.

[Jack]

You can now team up with your buddy, become a Tinder duo, and find another Tinder duo for a double date.

[Nick]

There you go. It actually reminds us of a takeaway we did last year. Dating apps, they're turning into social networks.

[Jack]

Me and my buddy Timmy, we're a package deal.

[Nick]

Now. Time for the best fact. Yeah, this one whipped up by Jack and me, because tomorrow you won't have a podcast.

[Jack]

Tomorrow we're all celebrating Juneteenth, the second Independence Day of America that commemorates the end of slavery in the United States.

[Nick]

It's actually the youngest of the federal holidays passed into law in 2021.

[Jack]

On June 19, 1865, the final enslaved people in America, deep down in the bottom tip of Texas, were finally freed.

[Nick]

So it's long been celebrated by the black community. But Congress made it Instagram official just a couple years ago.

[Jack]

And because it's a federal holiday, Wall Street's closed, the stock market's closed. We're off as well. Yes, we are.

[Nick]

We'll be back on Friday with our interview episode with the CEO of Reddit. So we'll see you then. Yetis, you look fantastic over there. And if you haven't yet, drop down to give us Five stars. Cause that's how we grow the pod.

[Jack]

And if you're barbecuing tomorrow for Juneteenth, put a little piece of butter right on the top of the ground beef before you grill that burger.

[Nick]

I think you meant guava, Jack. I think you meant guava. And before we go, a Happy birthday to Yeti Ethan Ramirez turning 6 years old in Tampa, Florida, who listens to T boy and the best idea yet. Always helping others and enjoying some Stanley cup wins.

[Jack]

Hey Ethan, if you're a lightning fan, Nick is jealous of your team and.

[Nick]

Aneesa down in Leesburg, Virginia is a four year bestie listener and celebrating the best birthday yet.

[Jack]

Happy birthday to Nicole Olson in Utah.

[Nick]

ZYU has got a birthday celebrating on the beaches of Clearwater, Florida.

[Jack]

Happy birthday to Ashan Chabal in Cupertino, California.

[Nick]

And Megan, enjoy that birthday in Irvine, California.

[Jack]

Happy birthday to Wesley Brand in San.

[Nick]

Diego and Alex Hines and Johnny Medina. We see you in Seattle. Congrats on the engagement. Can't wait to see some ring picks.

[Jack]

Good luck to Alexis Jeslin who's defending.

[Nick]

Their PhD in Paris and Chief Master Sergeant Ken Wilson is retiring from the US Air Force. Thank you for your 27 years of service.

[Jack]

Congratulations to Manny Petty in Dallas, Texas, who's opening a nail salon.

[Nick]

It was almost like they were born to do it. Jack and Ethan Riker in Chimacum, Washington has got a hi High school graduation. Congrats on the big day, Ethan.

[Jack]

And to William and Vivian Slade. Just have a fantastic time. We heard you're taking a road trip starting in Illinois. I don't know where you're going, but we're pumped for you.

[Nick]

We actually just did an episode on the best idea yet about Ferrari. Perfect episode to listen to on a long drive.

[Jack]

Oh boy. Nick's in Sally mode.

[Nick]

And while you're at it, drop down and give us five stars. Jack and I will see you for the interview up on Friday.

[Jack]

This is Jack. I own stock of Reddit and Roblox and I've never eaten a guava before. In fact, I don't even think I've ever seen one. And Nick and I both own stock.

[Nick]

Of Apple, which is not a guava.

[Jack]

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.

[D]

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