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This is Nick, this is Jack.
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It's Wednesday ceviche Wednesday, March 25, and today's pod is the best one yet. This is a T Boy.
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The top three pop business news stories you need to know today.
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I'm sorry, one second. Jack, call in the hair and makeup. We need to get Jack more glossier, baby. What's going on man?
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I think what you're trying to say is that video is live on Apple podcasts right now.
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One sec, I need to touch up on the boy brow please.
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Yetis, I actually wore a vest for the occasion. Cause you're probably seeing me for the first time.
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So to the half of our besties who enjoy the show on Apple podcasts, if you update your iOS right now, you can enjoy watching T Boy live every single day.
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Update your iOS, open up the Apple podcast app and see me investing right now.
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We've been doing push ups all day for this thing, but Jack, we got three fantastic stories for the coolest show in capitalism. What do we got on the pod man?
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For our first story, the Gap is the first big fashion brand to launch. AI shopping Chat to buy.
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But Sammy Altman has a Gap hoodie FOMO because the Gap launched with Google.
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For our second story, we found a venture capital stock that just IPO'd and it's low key, up 1,500% in just four days.
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Cause get this, this unicorn stock gets you access to SpaceX, Anthropic and OpenAI. True story.
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That's wild. And our third and final story. How did Salt and Stone deodorant hit number one on Amazon?
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Okay.
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And erewhon.
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Interesting.
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And at nascar, Excuse me. Because Salt and Stone found the stickiest product in America and it's in your armpits. But yetis, before we hit that wonderful mix of stories, I mean no one
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else is doing that mix. Love the mix today.
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J, I've got bad news. If you love synergizing paradigms on that blue sky opportunity.
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I mean Jack, I've got really bad news. If you like low hanging fruit that has just taken everything offline because a
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new Cornell University study found that corporate jargon is bad for your job.
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Yeah, let's circle back on this. Jack, if you are fluent in corporate bs, then you will do worse at work. That's the highlight.
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Sorry, Nick, I don't have the bandwidth for the story right now.
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I mean, Jack, just deliver the deliverables and then we'll be set.
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Nick, let's handle this async.
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Okay, let's do it. Let's Do Async. What do we got, man?
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This new Ivy League study is called the cbs.
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Can you sprinkle on some context, please?
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The Corporate BS Receptivity Scale.
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Yes, and it measures your susceptibility to impressive but empty business lingo.
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Big sentences with zero meaning spoken by
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a man in a suit who wants a TPS report. Basically, the survey asked 1,000 workers if they could tell the difference between fake corporate jargon and a real CEO quote.
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The workers who liked the fake corporate jargon turned out to be happier in their jobs overall.
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That's good for Carol and accounting, but
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they were worse at their work.
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I'm sorry, pause the paw. Jack. If you see right through corporate BS speak, then, yeah, you're probably good at what you do.
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But you're probably jaded by all the corporate BS speak that you hear around the office.
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It turns out there's a correlation between synergizing and sucking.
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So, Yetis, do you like pressure testing? Ecosystem learnings?
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Besties? Are you strategically aligned with drinking from the fire hose?
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If you said yes to either of those, you're not getting promoted today.
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No. Unless you move the needle while peeling back the onion.
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I want three stories by EOD or you're gonna have to schedule a PIP meeting with me asap.
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All right, we'll circle back on this and then we'll hit our three stories. Let's hit', em, Jack.
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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. Liz, if you know, you know. Cause we read to go. We can't wait no more.
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So just start the show.
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Start the show.
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Start the show. First, a quick word from our sponsor.
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For our first story, say hello to hoodie AI. The Gap is letting you buy directly from Google's Gemini.
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And this story illustrates OpenAI's move fast and break things versus Gemini's move slow and actually ship.
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Now, let's start by sprinkling on a little historical context. Jack, take us back a few years. Google won the Internet became a $2 trillion company.
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But then OpenAI threatened everything Google had achieved.
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I mean, remember a couple years ago, we thought you'd stop browsing the web like you always did.
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We thought the future was only chatting with a chatbot. That'd be your only interaction with the Internet.
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I mean, two years ago, Silicon Valley thought that Google would stop being a
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verb and be replaced by chat, the only verb on the web.
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Now we should point. Now, both of these companies still believe that chatbots are the future. But OpenAI and Google are using very different strategies to get to that future.
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And those strategies start with a hoodie, a Gap hoodie. Here's what San Francisco's denim queen announced on Tuesday.
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Here is the news. The Gap elevates online shopping with AI powered conversational checkout.
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You can chat with Gemini or Google search in AI mode and it will buy anything on the Gap.com for you.
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What we're saying is that you can order a hoodie, the baggy daddy jeans, a holiday scarf, without ever visiting gap.com But Jack, I gotta point out a problem here. Does this ring a bell for you?
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It should. Because OpenAI announced the same exact feature five months ago. They called it instant checkout.
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Instant checkout. We covered it on the pod. OpenAI got Stripe, Shopify, and Etsy on board for the launch. Huge headline.
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Because with that headline, we could picture A future where chatbots upstreamed all of E commerce and chatbots owned the customer relationship.
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Jack, remember our takeaway, the end of the apps. Why download DoorDash when you can have ChatGPT get that carnitas burrito to you ASAP.
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Five months ago, that OpenAI headline of instant checkout, Uber Booking holdings and Expedia, their stocks all tanked thinking that ChatGPT would take over everything along with DoorDash.
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Well, here's the big update from the ChatGPT side.
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OpenAI's instant checkout it did launch, but it didn't work. So it died a quiet death.
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Basically. OpenAI has been put in the shopping cart before the horse and that is actually a Sam Altman trend these days.
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Remember OpenAI's $100 billion circular deal with Nvidia?
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Another huge headline, Jack, that got walked
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back quietly to just 30 billion doll.
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Remember OpenAI's Pentagon agreement that rushed out on a Friday night? It was then amended just two days
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later and OpenAI's instant checkout that launched loudly died quietly. This is a consistent pattern with OpenAI.
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Now we should point out, on the other hand, Gemini barely announced their instant checkout that the Gap is now embracing and using.
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Now there is a big question of whether people actually want instant checkout.
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I mean Jack, it only takes a couple extra clicks to buy from Gap.com, which you already know and already trust
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since your 16 Husky days and they know you. But Google's instant checkout is live.
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OpenAI's is dead or hibernating, whichever one you want to go with. Either way, Google is letting the operations people get the product to actually work before they pop the champagne and start celebrating it.
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OpenAI does it in the reverse order.
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And yes, they prefer Moet. So Jack, what's the takeaway for our buddies over at the gap? Google and OpenAI, it's move fast and
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break things versus move slow but actually ship the thing.
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Yetis funny thing we've noticed OpenAI 20% of their workforce is former Meta and Facebookers and it kind of feels like they kind of brought some zuckiness with them when they went to work for Sam Altman.
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Because Sam Altman's strategy of over promising and under delivering it's worked for recruiting, fundraising and dominating the headlines.
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Oh it's totally worked with that. But it's also come at the cost of credibility, credibility to partners, government and the consumer public. Like probably a lot of you, the
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latest headline by the way, OpenAI is shutting down Sora, their generative AI Video app.
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It happened like, while we were recording this pod. Now, on the other hand, Google's Gemini, it's the exact opposite of this, right?
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Jack, we just saw it with the Gap partnership. They launch things quietly and only celebrate them when they've become a success.
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Besties.
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OpenAI, it's playing checkers in public. Google, they're playing chess in private.
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OpenAI versus Google, it's a fascinating case of move fast and break things versus move slow and actually ship.
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For our second story, we got our first ever meme venture stock, the latest IPO. It's up 1500% in four days because it already invested in anthropic OpenAI and SpaceX.
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This is a sign the walls of VC are coming down. And it also reminds us of Mufasa.
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But yetis, this story does not start with Mufasa. It starts with Ben and Dan Miller. Jack, can you please bring on some context to Ben and Dan Miller.
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They're the sons of a Washington D.C. real estate titan named Herb Miller.
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These guys are nepo babies turned nepo capitalists. The Miller brothers. They're used to getting invites to some pretty VIP investing opportunities.
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Although to their credit, they tried to open up their VIP status, their insider financial access to everyone throughout their whole careers. It seems that's pretty cool.
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First, they did it by crowdsourcing investors for a restaurant in dc. Not too shabby.
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Later, they convinced the SEC to let them create private real estate funds that anyone can invest in. It was called fundrise.
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And now they've launched Fundrise Growth Equity Fund, a venture capital fund for all.
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It was launched in 2022, but it went public in an IPO last Thursday.
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So Jack and I jumped in t boy style. And the IPO price last week? $19.
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The closing price yesterday, $319.
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Sit down, stand up, and oh, my God. That's up 15x in four days. Jack.
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That's up 1,400% in four days.
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Get this, the New York Stock Exchange had to halt trading twice because it was going up so much.
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So we got to ask, what the heck is this stock that is making Wall street go absolutely crazy?
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Jack, can you open up the ingredient list? What's going on here?
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What's inside is the most valuable in America?
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Besties. What Jack and I are saying is that inside this stock is the financial equivalent of a smoothie with protein, acai, creatine, collagen, and a dozen other trending ingredients.
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Plus that magic broth we mentioned Yesterday. Because since 2022, fundrise has let anyone with $1,000 minimum buy in buy into this venture capital fund pre IPO.
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Yeah, before the IPO. So they raised 211 million bucks from early investors and used that money to buy stakes in private companies. Some pretty sexy private companies.
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The CEO, Ben Miller, used his family's cache to get a p of the top, most exclusive fundraisers of the sexiest unicorn companies in the world.
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All right, get this. 40 million bucks at this fund, or 20% of it, is private stock in Anthropic.
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10% of it is private stock in OpenAI.
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5% SpaceX stock.
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The three buzziest startup names on earth you can get access to with this one single stock.
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Before this, we were all Sumo, Sumo. We were all straight up missing out. You couldn't invest in those private companies.
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These are the three startups everyone wants to own but couldn't because they hadn't IPO'd yet.
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But now fundrise let you. And what else is in the fund? Exactly, Jack. What's in the smoothie?
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18% of the stock is private stock of Databricks, 7% is Anduril, the defense company. And 3.5% is EPIC, the owner of Fortnite.
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I mean, add it all up and it's kind of like this fund got invited to the royal wedding adventure and gave a plus one to everyone else
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who buys the stock and their business model for inviting everyone. Fundrise has taken a 1.85% management fee
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to all the RSVPs on every RSVP. Although Jack and I should pause the pod for a sec because we did notice one little warning in the IPO paper.
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I mean, everything we've said sounds incredible so far.
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It sounds like a unicorn.
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So let's make sure to say this. The company said that you should purchase shares of the fund only if you can afford a complete loss of your investment.
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Yeah. Remember, unicorns have horns, and horns are sharp. So, Jack, what's the takeaway for our buddies over at this insane 1500% unicorn IPO?
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A stampede is rushing into the VC club. But stampedes are dangerous.
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Just remember the Lion King. You see, Eddies. Earlier this month, Robinhood launched a very similar fund, a public version of a venture capital fund.
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Because the red velvet rope of venture capital is coming down. And that's a good thing. The public deserves a chance to get rich, just like VCs and Bono do.
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Okay, but Jack, let's talk about getting rich here. Right? Because the $319 price tag of the VCX stock, that is insane. That is some local valuation, man.
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It is an insane valuation fundrise says that this fund is worth $19 a share based on their best estimate of the private stocks they own.
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And when SpaceX and Anthropic eventually go public, their stocks could soar, but not enough to justify a $319 stock price of one owner.
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So here's the analogy to understand this VCX meme Venture stock.
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Oh, are you thinking Taylor Swift on this one?
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Jack Venture Capital bought tickets to the Heirs Tour and they bought them at face value. These shares, they're reselling on StubHub, but they're at 19x the face value.
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Now the key here, yetis, is that the existing owners of the stock, the insiders, they legally cannot sell for six months. So a big reason the stock soared is that they're really only buyers out there. There aren't really sellers.
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So our advice wait until that six month lockup period expires on September 19th before considering to buy this stock.
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Finally, to channel Mufasa, what is our final warning about stampedes?
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Jack A stampede of retail investors is getting into the vc and that is a good thing.
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But besties stampedes are dangerous. So give this one a minute for the dust to settle and in the meantime we'll head to commercial break. Now a quick word from our sponsor. Top hats. Baseball hats. Von Dutch hats. We wear so many hats on this podcast. Honestly, we're not great at all of them.
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No, we've been avoiding hiring someone to wear those hats instead of us, especially the Von Dutch one, because hiring and training can take forever.
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For our third and final story, Salt and Stone, the $20 trendy deodorant brand was just acquired for an undisclosed amount.
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But how did this deodorant hit number one at Erewhon? And Amazon? And the Hamptons. Yeah. And nascar all at the same time?
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Well, the answer is sticky and that is a good thing. But yetis, in order to tell this story, you. Is that. Are you smell maxing over there? Are you smell maxing on me right now, Jack?
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Estee Lauder perfume sales hit all time highs based on women.
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And we did a whole story last year. Ode to Gucci is surgeon for young men out there these days.
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We recently covered Axe Body Spray making a comeback.
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Don't get any ideas. Abercrombie and Fitch.
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So it makes sense that deodorant is piggybacking on this fragrance trend.
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Specifically, Salt and Stone is leading that piggybacking fragrance trend.
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Salt and Stone is a beauty brand doing $165 million in annual sales, selling one deodorant stick every five seconds.
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Every five seconds. They've been profitable since day one. And they were founded by a snowboarder who busted a knee almost a decade ago.
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Profitable since day one because it's a $20 deodorant.
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Basically, the way we see it, it's kind of like the Rivian of deodorants. You see what I'm getting at here, Jack?
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Upscale outdoor, minimalist design, but maximalist.
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Yeah. If Gwyneth Paltrow went spelunking, and we believe she does go spelunking, she'd probably do it while wearing Salt and Stone deodorant.
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But here's the Salt and Stone has been acquired by Advent, a PE firm that's quietly built a pretty huge beauty portfolio.
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But here's what we find fascinating on that news. It's what they liked. It wasn't just the numbers, was it, Jack?
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They like that Salt and Stone has made the armpit sexy.
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Specifically, Salt and stone turned a $20 product into a trophy. And what do we mean by that, Jack?
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What we mean is if you have a stick of Old Spice, you hide.
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You don't keep it out.
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But if you have a stick of Salt and Stone, it's such a pleasant looking, like bottle and container.
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Yeah, I know what you mean.
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You leave it, like, in the most prime spot on your counter.
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It's like interior design. You know, it pairs well with a La Labo candle and a travertine marble table.
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But what fascinated us is the contrast in the user base.
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Exactly.
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Or what you might call the conflicts in the user base.
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Because get this, Salt and Stone is the number one selling deodorant at Erewhon,
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the fancy grocery store.
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And it's also the number one selling deodorant at Sephora, the fancy retailer.
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Makes sense.
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But it's also the number one selling deodorant deodorant on Amazon, the mass market everything store. Oh, and Salton Stone also has deals with SoulCycle and Barry's Boot Camp.
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But it's also the official deodorant of a NASCAR driver.
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Pause the pot. How is one brand showing up at the steam room in a Hamptons tennis club, also at Talladega nights?
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Salt and Stone is all over the place. And it doesn't make sense.
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If you were a branding expert, you would be walking into a room and tearing up the business plan on these
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guys because going after some such different customer bases that could alienate both sides when they realize they're both being targeted.
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I mean, Jack, you could piss off the NASCAR dudes and then anger the Santa Barbara sugar mamas.
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We've said before that coolness is born in contrast, but this looks like conflict.
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And yet Salt and Stone sales are only accelerating from the Indy 500 to the Yellowstone Club.
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Oh, the CEO would say one promotes function and one promotes fashion.
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It works in a NASCAR cockpit and it works in a $100,000 newly renovated bathroom.
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But we would say it's our takeaway.
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Yes, we would. So, Jack, what's the takeaway for our buddies over at Salt and Stone?
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Nothing feels better than sticky Yetis.
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This is wild. Get this data. According to a Morning Consult poll, deodorant has the highest brand loyalty of any personal product in your home.
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You know how many times I've switched my deodorant brands?
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You know, having lived with you for so long, Jack, I do know once. That's it. Shampoo to soap. Deodorant simply has the lowest switching rate of any personal care product in your house.
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And it's a function of both psychology
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and habit because smell is tied to memory. And deodorant routines are just not worth changing.
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So Salt and Stone doesn't have to worry about keeping you. It knows you'll stay once you try the product.
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And that's why Salt and Stone has grown, thanks to a wide reaching sampling strategy. It lets everyone try this stuff, including
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every sweaty Betty who just got off the bike. It soul cycle.
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So besties Salt and Stone identified a product type with more loyalty than everything. But maybe religion.
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Deodorant. It's a reminder of the power of stickiness in business.
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Stickiness. It feels good. Jack, could you whip up the takeaways for us?
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For ceviche Wednesday, Google launched instant checkout with the gap, something OpenAI announced but failed.
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It's move fast and break things versus move slow and actually ship.
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For our second story, Fundrise's growth equity stock is meme stocking because it owns SpaceX, Anthropic and OpenAI.
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It's a stampede of retail investors getting into venture capital. But as we saw in the Lion King, stampedes, they're dangerous.
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And our third and final story, Salt and Stone sells 20 doll deodorants and just sold for millions to private equity
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because deodorant is sticky. The most beautiful world to a marketer's ears.
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But yetis, this pod's not over yet. Here's what else you need to know.
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Today we got a zucking update. A jury in New Mexico reached a verdict against Meta in its child social media case.
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They found meta liable for $375 million in damages, which is a landmark court decision.
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Now, Bessie, to sprinkle on a little. Both of Jack's and my dad's are lawyers. Context here. It is a civil case, not a criminal case, but it does have consequen beyond the money.
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Legislators are going to point to this verdict to call for regulation protecting kids online.
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And second, notice a few typos on your iPhone lately because besties, it's not you, it's an Apple problem.
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There's a bug in the latest iOS software that misses letters when you type them fast. And we all type fast.
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When I tried to type to Jack a sounds good, it came out as sounds God. And I didn't mean sounds God, Jack.
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So when you're updating your iOS so you can watch video. Yes, it will also fix this typo issue.
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And finally, after 200 years, America's oldest steakhouse is expanding. We're getting a second location of Delmonico's
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it's been open since 1837. It served Abe Lincoln and Mark Twain, but we did a story on it this week. This is all because of steak insurance.
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You'd go to a steakhouse because you'd rather pay more for a restaurant to cook that ribeye. Right now, time for the best fact yet. This one Wicked up by Jack and me because we've been researching Lamborghini for a story and we found some wild facts out there.
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Lamborghini is the Italian rival to Ferrari Ferrari. It's founded by a man named Lamborghini in the year 1962 and he owned a Ferrari.
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Here's the wild story. He actually brought his Ferrari to the Ferrari shop one day when the clutch broke and he couldn't really drive the thing.
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But Ferrari told him, the car's fine, Mr. Lamborghini, the car's fine. You just don't know how to drive it right.
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They insulted him and he got so angry he ran out of the shop, stormed out and vowed to launch a competitor car brand.
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And he did. And he named named it Lamborghini.
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Yetis, you want us to cover it in the pod? Drop it in the comments and we may whip it up for you. Yetis, you're looking fantastic today. Jack, you're glowing in Apple video for the podcast app. I mean, we're live, baby. We are moving on this thing.
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You know, if you have an Apple Vision Pro, you can watch us on that too.
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But you don't because nobody does. Tim Cook, thanks for listening to our DMs and finally launching video video on Apple podcasts. We really are so pumped about it. Congrats the Apple team. Thank you for making it happen.
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Nick and I will be back with the best one yet in video tomorrow.
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We'll circle back, boil the ocean and eat that elephant one foot at a time. And before we go, a happy birthday to legendary Yeti John Sikorsky. Turning 72 in Flemington, New Jersey, this legendary Yeti whips up the takeaways with his twin daughters Allison and Kristen. Kristen at the family beach house. Thank you guys.
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Happy 4th birthday to Elijah Carpenter in Raleigh, North Carolina and Aurora Eno is
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turning 7 years old in Franklin, Tennessee. An annual birthday tradition to get her a shout out. Also a shout out to her sister Felicity.
A
Happy birthday to Ashley Holt camp in Anaheim, California.
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And Amadou is turning 15 years old up in Michigan.
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Happy birthday to Alicia Danji in Toronto
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and Noah Lopez Ramos. Happy 11th birthday on the way to school and Austin. That dude was at our live show in Austin baby. Great to have you there.
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Happy birthday to Jackie Strum Asher in New York who's enjoying a wonderful Pinot right now. Cause this is the president of Wine Enthusiast magazine celebrating with her husband and kids.
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And a special shout out to legendary longtime St. John's Yeti, Tuck and Adelaide. They got a new baby boy, don't they? Jack, you're another uncle again.
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I saw a picture. Don't know the name yet, but this baby is beautiful.
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Okay, Jack, I'm checking kalshee early sign. 70% say it's a nick. I'm just pointing that out.
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And happy anniversary to Namira Modi in Austin who's celebrating one year of her engagement.
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And to Peter over in Sweden. We see you and we love having you with us.
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And to anyone else celebrating something today, make it a tea boy.
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Celebrate the wins.
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This is Jack. I own stock of Amazon and Robinhood's venture fund. Nick owns stock in Shopify, and we both own stock in Apple and Robinhood.
F
Imagine waking up to breathtaking landscapes, vibrant culture and a welcoming community. New Zealand is calling. If you are a passionate early childhood primary or secondary school teacher, New Zealand says, come teach us. With up to 10,000 New Zealand dollars in relocation support, now is the time to make your move. Find out more about moving to New Zealand to teach@workforce.education.govt.com open to existing qualified primary, secondary and ECE teachers. Note that this grant is only dispersed after a teacher has arrived in New Zealand and meets the other accompanying criteria.
The Best One Yet – Episode Summary
Podcast: The Best One Yet
Hosts: Jack Crivici-Kramer & Nick Martell
Episode: 🦄 “+1,500%” — Secret SpaceX Stock. Gap’s AI hoodie. Salt & Stone’s Nascar deodorant. +Jargon Bulls**tmeter.
Date: March 25, 2026
In this lively, witty, and informative episode, Jack and Nick dive into the three most buzzworthy business stories of the day: Gap’s AI-powered checkout partnership with Google’s Gemini, the meme-worthy IPO of Fundrise's venture capital fund (that grants retail access to unicorn startups like SpaceX and OpenAI), and the story behind Salt & Stone—the cult $20 deodorant beloved from Erewhon to NASCAR. The hosts also take aim at corporate jargon and its surprising downside at work, all while weaving in memorable analogies, playful banter, and actionable takeaways.
Meta Lawsuit (21:43–22:08)
Apple Typo Bug (22:08–22:32)
Delmonico's Expansion (22:32–22:48)
Best Fact Yet – The Lamborghini Story (22:48–23:33)
For listeners and non-listeners alike, this episode offers a blend of smart business insights, cautionary tales, and a healthy dose of fun.