🥇 “$4K” — Gold’s “debasement” trade. Rowan’s $150M Ear Piercing. Sharpies’ Made in America. +Netflix’s Loud Ad Law.

Summary

Podcast Summary: The Best One Yet – October 8, 2025

Episode: 🥇 “$4K” — Gold’s “debasement” trade. Rowan’s $150M Ear Piercing. Sharpies’ Made in America. +Netflix’s Loud Ad Law.

Hosts: Jack Crivici-Kramer & Nick Martell
Podcast: The Best One Yet

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Overview

In this lively and fast-paced episode, Jack and Nick break down the three top pop-business stories of the day:

1. Gold skyrockets to $4,000 and the rise of the “debasement trade.”
2. Rowan, the booming ear-piercing chain, and the psychology behind their $150M success.
3. How Sharpie markers returned to “Made in America”—and what it means for reshoring and US manufacturing.

Plus, a bonus story on California's new law against ultra-loud streaming ads, notable business news snippets, fun banter, and sharp listener corrections.

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Key Stories & Insights

1. Gold Hits $4,000: The Debasement Trade

Segment Start: [05:55]

• Record-Setting Surge:
  Gold reaches an unprecedented $4,000/oz, up 50% this year.

• Why? Not What You’d Think:
  Traditionally, investors flock to gold when the stock market crashes, but this time, both stocks and gold are at all-time highs—a highly unusual scenario.

  • "This gold rally is different. It's less about buy, more about selling dollars." – Nick [00:59]

• The Debasement Trade Explained:
  Ken Griffin, billionaire hedge fund manager, calls this the “debasement trade”:

  • If you believe the US dollar is at risk due to mismanagement, rising debt, or political instability, you move wealth into non-dollar assets, like gold or Bitcoin.
  • “The issue isn't the price, it’s the dollar symbol at the beginning of the price.” – Jack [08:55], [10:08]

• Factors Driving Dollar Doubts:

  • Soaring Debt: Bipartisan policies pushing US debt higher than ever.
  • Fed Independence: Fears that central bank leadership is becoming politicized.
  • Trade Wars: Global uncertainty in US economic policy and dollar dominance.

• Results:

  • Gold is sold out at places like Costco.
  • The US dollar has dropped 10% against other major currencies in 2025.

• Memorable Quote:

  • “Gold is having its best year since King Tut got buried in it in ancient Egypt.” – Nick [06:40]

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2. Rowan: The $150M Ear Piercing Business

Segment Start: [10:14]

• Runaway Growth:
  Rowan, a chain specializing in ear piercings, is on track to double sales and hit $150 million revenue this year.

• The Ritual Advantage:
  Success comes from transforming ear piercing from a product into an experience—leveraging what the hosts call “the window of loyalty.”

  • “The real key to Rowan's success is ritualization, turning a simple activity into a ritualized activity.” – Jack [12:04]
  • “They put those girls up on a throne.” – Nick [12:41]

• Business Model:

  • Professional nurses handle most piercings, in upscale, Instagrammable shops.
  • They charge a $35+ premium for the piercing experience.
  • Repeat revenue flows from jewelry sales to loyal customers for years after.

• Competition Fades:

  • Old guard Claire’s has filed bankruptcy twice since 2018, with outdated, transactional service.

• Memorable Quote:

  • “Claire’s piercing was transactional, not sensational.” – Nick [13:01]

• Takeaway:

  • “Whoever does that first piercing... they got a jewelry customer for life.” – Nick [22:25]

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3. Sharpie: Reshoring to Made in America

Segment Start: [16:58]

• The Comeback:
  Sharpie markers are once again manufactured in the US, with prices unchanged despite moving production from China.

• How They Did It (The “Five-Step Recipe”):

  1. Patience: Six years to fully move operations back.
  2. Huge Capital Spend: $2 billion on new equipment, training, HR.
  3. Automation: Heavy investment in robots minimized labor costs.
  4. Scale: 4.3 billion units/year spreads costs thin.
  5. Shipping: Domestic production slashes shipping expenses.

• Outcome:

  • Only the felt tip is imported.
  • Finished product assembled in Tennessee; price remains $1 per marker.
  • “Sharpie is now as American as a Big Mac and Levi's jeans riding a Harley Davidson, baby.” – Nick [20:27]

• Caveat/Reality:
  Manufacturing jobs have not grown significantly despite reshoring efforts, due to automation.

  • “The bigger force here is automation.” – Jack [21:01]

• Data Point:

  • US manufacturing jobs up only 3% since 2017, despite reshoring sentiment.

---

Bonus: California’s “Dial It Down” Law for Streaming Ads

Segment Start: [01:36]

• The Problem:
  Streamers (Netflix, Hulu, etc.) crank ad volume far above actual content.
• New Law:
  California bans ads that are louder than stream content—addressing a growing annoyance.
• Context:
  TV loud ad bans exist (since 2010), but streaming was left out.
• Motivation:
  A state senator’s baby being woken by a blaring car commercial inspired the bill.
• Hosts’ Take:
  • “This is probably the only thing in America we can all agree on right now.” – Jack [02:25]
  • “We vow to maintain the same volume in all of our ads.” – Nick [03:21]

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Notable Quotes & Moments

• “If you asked for Costco gold bars for your birthday, that was the move.” – Nick [06:47]
• “Gold is at an all time high. It's called the debasement trade and it's jumped from crypto Bros. To the front page of the Wall Street Journal.” – Jack [10:01]
• “The window of loyalty is why you're irrationally still a fan of that team you saw when you were six years old, even though you haven't lived in that city for 20 years.” – Jack [13:37]
• “Mindy Kaling… is now a Sharpie model. There you go.” – Nick [18:01]
• “Only the felt tip of a Sharpie marker is imported. The other five parts and the assembly all happen in Tennessee.” – Jack [20:17]
• “If the goal of trade policy is to increase the number of manufacturing jobs in America, that's a worthy goal. But it's going to fail if you don't have a policy for the bigger competing force: automation.” – Jack [21:43]

---

Other Business News [22:48-24:19]

• LeBron James Announcement:
  Teased decision fizzles—was just an ad for Hennessey.
• Tesla Price Cut:
  Drops prices post-tax credit cut, but with fewer features; stock falls 5%.
• Instagram’s Gold Rings:
  Launches non-cash “Oscars for the ‘Gram”—digital gold rings for 25 creators.

---

Listener Corrections and Fun Facts

• Best Fact Yet: [24:19]
  Physics correction on the law of conservation of energy—dozens of listeners wrote in.
  • “We've never had a mistake with so many corrections sent in. Like, it's like every YETI is an AP physics [teacher].” – Nick [25:14]

---

Quick Takeaways Recap [22:03]

• Gold: Gold is soaring, not because of markets, but a crisis of confidence in the dollar.
• Rowan: Loyal customers are won in childhood with ritual experiences; the “window of loyalty” is marketing gold.
• Sharpie: Reshoring is possible at scale but real growth in manufacturing jobs is hampered by automation.

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Timestamps for Major Topics

| Topic | Timestamp | |----------------------------------------|-------------| | California Loud Ad Law | 01:36–03:30 | | Gold & the Debasement Trade | 05:55–10:14 | | Rowan: Ear Piercing Chain | 10:14–14:31 | | Sharpie: Made in America Again | 16:58–22:03 | | Recap of Takeaways | 22:03–22:43 | | More News (LeBron, Tesla, Insta) | 22:48–24:19 | | Listener Corrections (Science Fact) | 24:19–25:22 |

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Original Tone & Style Highlights

• Light, snappy banter throughout (“the Sephora of studs…the Pinkberry of piercings” [11:03])
• Playful but incisive business analysis (“Sharpie is now as American as a Big Mac and Levi’s jeans riding a Harley Davidson, baby” [20:27])
• Frequent call-backs and inside jokes ("window of loyalty")
• Hosts’ personal anecdotes (“Never been pierced, never been tattooed…” [10:33])

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For Listeners Who Missed It

This episode offered a rich combo of economic anxiety (gold vs. the dollar), clever niche retailing (Rowan’s loyalty trap), reshoring optimism (with a dose of automation realism), and “we can all agree” policy (turn down those streaming ads!). With memorable quotes and pointed business lessons, Jack and Nick kept their signature conversational, witty style.

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For more, listen to the full episode or catch up on their daily pop business news!

Transcript

[A]

This is Nick, this is Jack. It's Wednesday. Celvice Wednesday, October 8th. And today's pod is the best one yet. And this is a T boy, the.

[B]

Top three pop business news stories you need to know today.

[A]

All right, Yetis, remember we did that story on the Sora AI app earlier this week? The AI social media app from ChatGPT.

[B]

Nick and I posted our first videos of AI Nick and AI Jack. It was disturbing.

[A]

You don't wanna watch it before bed? Let's put it that way.

[B]

Anyway, we still have some invite links, so if you need One of those six digit codes to the app, I got four of mine left.

[A]

DMSBoyPod. We'll select a couple Yetis and Besties. I invited Jack. Then Jack invites you.

[B]

I invite you.

[A]

It's kind of like a whole chain going on, right, man?

[B]

Kind of like a whole pyramid scheme.

[A]

Never mind, it's free of charge. Free of charge. But Jack, three fantastic stores for today's pod. What do we got on the T boy?

[B]

For our first story, it's gold, silver and gold.

[A]

Silver and gold.

[B]

Gold continues to blow past record highs, hitting $4,000 per ounce for the first time ever.

[A]

But besties, this gold rally is different. It's less about buy, more about selling dollars.

[B]

For our second story, it's one of the fastest growing retail chains in America. It's an ear piercing startup called Rowan rowan.

[A]

They're doing 100 million bucks a pierced ears. All thanks to the window of loyalty.

[B]

And our third and final story is the Sharpie marker. It's the most permanent thing in any of our lives right now. But they just switched from Made in China to Made in USA And Sharpie.

[A]

Pulled it all off without ever raising prices.

[B]

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

[A]

Fantastic mix of stories. Love the mix.

[B]

Jack, it is Wednesday night. If you're like me, you're sipping a glass of Pinot, maybe some Ben and Jerry's, watching an episode of Wednesday on.

[A]

Netflix, but then, boom.

[B]

Did my house just shake from that Jeep commercial?

[A]

Jack, you know how they say the rent is too damn high? Well, the ads are too damn loud.

[B]

My Sono speakers just broke, Nick. But here's the. Here's the news. California just passed the first ever ban on loud commercials. That's right.

[A]

California just put a cap on that commercial.

[B]

Behold the dial it down law. No streamer can make an ad louder than the program it's interrupting.

[A]

We're looking at you, Netflix, Amazon prime, hbo, Disney, Hulu. You must turn down the volume on that Volume.

[B]

This is probably the only thing in America we can all agree on right now. You can't jack up the 32nd pharmaceutical ad to 100 decimals. Sorry.

[A]

Because there's too much screaming when we're streaming these days.

[B]

Now, we should sprinkle on some context. The US Congress banned loud commercials back in 2010, but that was for TV networks.

[A]

But that ban did not apply to streaming networks.

[B]

In fact, this new dial it down law. It was proposed by a state senator in California who had a newborn baby.

[A]

Apparently, he was binging HBO until a car commercial woke up his baby. Oh, please, just go back to sleep.

[B]

We've all been there. Besties. There's not worse than trying to understand the dialogue in a succession. Then a cliffhanger and then a Planet.

[A]

Fitness ad makes you pull a hammy in your eardrums.

[B]

I'm just trying to enjoy some Love Island.

[A]

I don't need to be yelled at about the side effects of Tithastrasil.

[B]

The only one who hates this news is Pfizer.

[A]

But besties, this is Nick and this is Jack. And we vow to maintain the same volume in all of our ads.

[B]

Actually, Billy Mays is not a fan of this line.

[A]

Jack hit our three story.

[C]

Fifteen years before this song Two boys from the northeast met in the dorm they had an idea it causes 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 read to go. We can't wait no more so just start the show, start the show, Start the show.

[A]

First, a quick word from our sponsor. AT&T business yet he's starting your own business. It ain't easy. When we first got our daily newsletter off the ground that led to this podcast a decade ago, we definitely did not get everything right.

[B]

Remember, we initially bummed WI Fi off of hotel lobbies. Classic move. And then the concierge kicked us out. So coffee shop free WI Fi became our godsend. Another latte shout out to all the small business cafe owners. Your WI Fi is the real hero.

[A]

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

[B]

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

[A]

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

[B]

And yetis, there's never enough time.

[A]

So start a business, live your dream and wake up to the power of ATT business. Business.att.com Airbnb Yetis, full disclosure, we're already thinking about holiday vacation. You gotta book these things early these days. Are you kidding?

[B]

I booked my holiday vacation like six months ago. I do it like the Germans right after my Christmas vacation. I booked next year's Christmas vacation for 2028.

[A]

Okay, but also full disclosure. Eddies, I'm jealous here because I'm paying for my whole trip. But Jack, you have money from your Airbnb helping pay for yours.

[B]

It's my side Hustle, profit, puppy besties.

[A]

You can host your entire place or just your extra space.

[B]

Really satisfying feeling by the when my guest messages me that their first night went wonderfully, it just puts me at ease. And it's like, wow, I am making money right now and somebody's having a great time.

[A]

So you're going to give a day away for free?

[B]

No, I wouldn't say that yet.

[A]

He's your home might be worth more than you think.

[B]

Find out how [e-mail] host.

[A]

For our first story, gold just hit another crazy milestone yesterday. 4,000 bucks. But not because of the economy. It's because of the dollar.

[B]

Here's why Crypto Bros Are telling you to de dollarize your finances.

[A]

Oh, Jack remembers only a month ago we did a whole story on gold hitting $3,500. New record high.

[B]

But here's the headline yesterday from the Wall Street Journal, gold soared to $4,000 an ounce for the first time, signaling concern about the outlook for the US Economy and its place in the world.

[A]

Okay, that is ominous. More on the US Place in the world segment in a minute.

[B]

We'll get to that. In the meantime, the price of one ounce of gold is up 50% so far this year.

[A]

Gold having its best year since King Tut got buried in it in ancient Egypt.

[B]

And gold was already at a record high to start the year.

[A]

If you asked for Costco gold bars for your birthday, that was the move.

[B]

Now, why would anyone want to buy gold unless it's for jewelry.

[A]

No, it's a fair point, Jack. Because it is better to own stock of a company that's generating value or real estate that people are using. Those typically do much better.

[B]

The reason why some invest in gold is that it's an alternative asset. You buy gold when you think that the traditional assets may be going down.

[A]

And Jack, the last time we saw gold prices going crazy like they are today, when was it?

[B]

Man, it made sense. It's when stock markets in the economy were crashing in the 08 financial crisis and the Great Recession that followed.

[A]

But besties, here's what we find fascinating, confusing. Gold is hitting all time highs right now, but the stock market is also hitting all time highs.

[B]

That's not how it usually works out. This gold rally must be different.

[A]

No, no. This gold rally, in fact, is not normal. And to explain why it's not normal, we'll hand things over to Ken Griffin.

[B]

Ken Griffin is famous. We've actually covered him twice in this podcast. First, when he bought an original copy of the US Constitution. And second, when he made a bid and won at an auction. He bought a complete skeleton of a St Stegosaurus.

[A]

Yeah, he's silly rich. And he got silly rich running a hedge fund. And what he's been seeing with gold concerns him to the point he just started sharing it publicly.

[B]

Ken Griffin is concerned that gold is at an all time high and he refers to it as the debasement trade.

[A]

Ah, the debasement trade. Jack, could you sprinkle on a definition for us, please?

[B]

The debasement trade is if you think there's mismanagement of the US dollar by government officials and you think the dollar is going to be diluted long term.

[A]

Basically, if you think the US dollar is getting weaker, it'd be a smart move to move your money to non US dollar assets like Bitcoin or gold.

[B]

And enough people think that that a pawn shop will give you more money than ever for your grandma's gold bracelet right now.

[A]

That's why those $4,000 gold bars at Costco are more sold out than the $4 toilet paper.

[B]

It's not because investors are concerned about the stock market or the economy. Investors are concerned about the US Dollar itself.

[A]

So, Jack, what's the takeaway for our buddies who are everyone looking at? Gold.

[B]

The issue isn't the price, it's the dollar symbol at the beginning of the price.

[A]

Now, yetis, Jack and I just mentioned the mismanagement of the US dollars. Investors are seeing that across three key areas.

[B]

First, debt. Republicans passed the big beautiful bill that boosts America's debt by $4 trillion. And now Democrats during the shutdown are demanding a reinstatement of health care spending, which would increase debt by another trillion dollars.

[A]

Then you've got the central bank losing independence. Next year, President Trump indicated he'll replace Jerry Pow with someone more political and.

[B]

Finally got the trade war, it's caused the whole world to reconsider their relationship to the United States and their relationship to the US Dollar.

[A]

Now, basties, we have always had debt issues, but they have never been as big as this. And the Fed and the trade war, those are completely new economic issues affecting the dollar.

[B]

Add them all up and it's causing some to say that you shouldn't trust the US Dollar anymore. Its value will fall long term.

[A]

We're not saying that, but we're noticing that in so many more places now. We wanted to share the news with you.

[B]

What does the market say? The US dollar is down 10% so far this year compared to foreign currencies.

[A]

And gold is at an all time high. It's called the debasement trade and it's jumped from crypto Bros. To the front page of the Wall Street Journal.

[B]

The issue isn't the price. It's the dollar symbol at the beginning of the price.

[A]

For our second story, Rowan is the fast growing ear piercing chain on track to double sales to 150 million lobes. I mean bucks this year.

[B]

Why is venture capital going into ear piercing? Because Rowan understands the window of loyalty.

[A]

All right, Jack, we're gonna tell the story. Full disclosure, I've never been pierced, never been tattooed, and never had my hair braided yet. Although I did get a henna tattoo at a bat mitzvah once and it stayed on me for like eight months.

[B]

Nice. Nice.

[A]

Dude.

[B]

I want to get a tattoo.

[A]

All right, next live show, I'll tattoo you. On me. It's on me, Jack. But besties. That's why Jack and I were fascinated by one of the fastest growing retail chains in America. Cause they specialize in one thing.

[B]

Your ears. It's called Rowan, and they're the Sephora.

[A]

Of studs, the Lululemon of lobes, the Pinkberry of piercings.

[B]

Jack Rowan was actually founded by a former hedge fund manager. And get this. She specialized in shorting shopping malls.

[A]

But as she did, she noticed the ear piercing store was the only business thriving inside of those shopping malls.

[B]

So she pivoted her focus from betting against the shopping mall to betting for an ear piercing business.

[A]

Now she's got the Erewhon of earrings. So she launched an ear piercing business. And they don't require an empty parking garage and the smell anti and pretzels to pull it off.

[B]

No. Rowan has opened 100 locations on high end strip malls. They generated $70 million of revenue last year and are on track for 150 million this year.

[A]

They're doing $1.5 million per shop. Jack, could you sprinkle on some context, please?

[B]

That's more than Dunkin Donuts or Skechers.

[A]

On a per store basis. So this brand, Rowan, is selling bling to pre teen girls getting their ears pierced, and they are profitable. Jack, how are they pulling it off?

[B]

The real key to Rowan's success is ritualization, Turning a simple activity into a ritualized activity.

[A]

Jack, we've seen this before, haven't we, man?

[B]

SoulCycle turns spinning into a 45 minute religious experience and charged 40 bucks per seat.

[A]

Dry bar turned hair drying into a party experience, and they charge 40 bucks a sesh.

[B]

Similarly, Rowan recognized the gap between the social importance of getting your ear pierced when you were a little girl to the service that the market was offering.

[A]

The transition to girlhood without pomp and circumstance. I mean, inside that delta was an opportunity to elevate.

[B]

So Rowan hired professional nurses, designed Instagramable stores, and put those girls up on a throne.

[A]

And now they can charge a premium of 35 bucks for a single piercing because they've elevated it to a ritual.

[B]

The competition, by the way, that's Claire's. But the 1000 store chain known as Claire's has declared bankruptcy twice since 2018.

[A]

Yeah, because Claire's piercing was transactional, not sensational. And also, they were inside the malls.

[B]

Right, but we have a big question.

[A]

Yeah, we do.

[B]

If the customer of Rowan is only getting their ears pierced, you know, once or twice in their lives, and they're only charging $35 per piercing, this doesn't sound like a good business.

[A]

And yet it is. And here's why. Jack, what's the takeaway for our buddies at Rowan?

[B]

Rowan understands the window of loyalty.

[A]

Ah, the window of loyalty. One of our favorite takeaways. Yetis an investment in making the first impression when a customer is most likely to generate a core memory.

[B]

The window of loyalty is why you're irrationally still a fan of that team you saw when you were six years old, even though you haven't lived in that city for 20 years.

[A]

Yeah, and like Jack, we covered the window of loyalty first with the McDonald's Happy Meal. They focus the food and the experience on the kids.

[B]

And we also covered the window of loyalty with Band Aid. It's the most trusted brand in America because you remember it was there for you when you had a boo boo on your knee.

[A]

Similarly, Rowan focuses on doing your first piercing because that's a core memory. And then you'll come back for.

[B]

This is key. After that $35 piercing rowan makes most of their money selling that child jewelry for, like the next decade.

[A]

Hundreds of dollars of jewelry that Rowan will sell after you got your ear Pier.

[B]

So Rowan turned a piercing business into $150 million jewelry business because of the window of loyalty.

[A]

Now, a quick word from our sponsor.

[B]

This show is sponsored by BetterHelp.

[A]

You know, Jack, something I thought about in therapy last week. If I were a therapist, I would need my own therapist.

[B]

Think of the questions, the venting, the complaints, the tears that we all bring into that leather couch.

[A]

I mean, therapist me would need a break from me. You know, relieving other people's trauma every work. That could be pretty traumatic.

[B]

It's secondhand trauma. Now. They do get paid to hear it. But still, I appreciate how welcoming my therapist is to hear all my issues.

[A]

Good point. Good point, Jack. Good point.

[B]

I appreciate how welcoming my therapist is to my dirty laundry.

[A]

So, besties, since October 10th is World Mental Health Day, we'd like to thank.

[B]

Those therapists, our therapists, Better Help Therapists have helped over 5 million people like us on every issue you could imagine.

[A]

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[A]

Our listeners get 10% off their first month at betterhelp.com T boy, that's BetterHelp.

[B]

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[A]

I just listened to a wild audiobook on my flight back to New York. Here's what it's called. Gods of New York.

[B]

It's about four men, the four men who ruled New York City the year that you were born. Nick.

[A]

I got to give my parents credit check. New York in 1988 was insane. It was like mob bosses, gang fights, and all these subway cars covered in graffiti. It's like seeing how the city was run when my mom was, like, pregnant with me. I'm blown away by this whole new imagination.

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[A]

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Explore bestsellers, new releases, or find a wild story that takes you back to the year that your mom gave birth to you.

[A]

Yeah, last night while I was doing the dishes, Jack, I listened to a story about the abysmal late 1980s New York Yankees.

[B]

Yeah, I feel bad for your dad. At least the Giants were winning back then.

[A]

Besties. There is more to imagine when you listen.

[B]

Sign up for a free 30 day audible trial and your first audiobook is free, so visit audible.comtboy.

[A]

For our third and final story. It's Sharpie, the champagne of pens. The marker company has never been hotter, and now it's a model for Made in America.

[B]

Here's how Sharpie pulled off a reshoring from China to the US and what other companies and politicians can learn from it.

[A]

Ah, the Sharpie. Jack, you own a whole bunch of them. You probably have three or four, but you never like. Where are they when you need them? One sec. Is it in here?

[B]

Wherever you're not, I know where they are, Jack.

[A]

They're in the dongle drawer next to the 43 Chargers that I'm not using anymore.

[B]

We actually have a thing called the junk drawer, and that's actually where the Sharpie lives.

[A]

Can we do a little Sharpie sound effect on the pod? Thank you, Trey. All right, that's great, Yetis. The last time Jack and I covered this Sharpie marker was news of their biggest order ever, Starbucks.

[B]

Starbucks was going back to hand drawn names on cups. So they bought 200,000 Sharpies.

[A]

There's a barista, Sharpie. Boom. Huge news for the company.

[B]

And then Sharpie signed Mindy Kaling, the comedian as a Sharpie endorser.

[A]

Yeah, she's now a Sharpie model. Mindy Kaling. There you go.

[B]

Super random. But bigger news came this week when the Wall Street Journal profiled Sharpie as successfully completing a reversal of their outsourcing.

[A]

Yeah, Sharpie Made in America again. Welcome back, guys. Great to see you here.

[B]

Yetis, we gotta take you back to the early 2000s, when Sharpie did what every big US corporation did.

[A]

Yeah, they pulled a Nike and they started outsourcing to China.

[B]

They did it to save costs and.

[A]

Boost profits until 2018, when the CEO of Newell Brands, the owner of Sharpie, heeded Trump's call.

[B]

He brought manufacturing of the Sharpie marker back to the United States. And shockingly, he did it without raising prices. Get this.

[A]

Today, made in America, Sharpies cost $1, the same price as when they were Made in China.

[B]

That sounds to defy the laws of physics.

[A]

It seems like to defy every law, Jack. So, like, how is Sharpie pulling this off exactly?

[B]

We jumped in t boy style and found the five step recipe that Sharpie followed.

[A]

Well, first of all, Sharpie took a long time to pull this off. It took six years for them to manufacture in the United States.

[B]

Yeah. So the first ingredient to reshoring from China to the US is patience.

[A]

Yeah. The second ingredient is it required an expensive one off moving cost, a $2 billion capital investment.

[B]

$2 billion was spent on new equipment, more training, and new HR policies to reduce employee turnover.

[A]

So the third ingredient is robots. And that's where the bulk of that $2 billion expense we just mentioned actually went to.

[B]

An investment in robots is how the reshoring of the Sharpie marker back to the US did not result in an increase in the number of workers in the US factory, although they did have.

[A]

To increase wages by 50% over the last five years to red of those employees.

[B]

The fourth recipe was volume, because Sharpie is a marker, not a car.

[D]

Yeah.

[A]

So you can produce 4 billion Sharpies over a year. You can't produce 4 billion cars.

[B]

And that's what they do. And when the costs are spread out across 4.3 billion units per year, you can barely see those increased costs, which.

[A]

Leads to the final ingredient, lower shipping costs, since most of Sharpie's customers were here in the United States where they now were making the pens.

[B]

So today, only the felt tip of a Sharpie marker is imported.

[A]

Oh, that's my favorite part, Jack.

[B]

The other five parts and the assembly all happen in Tennessee, and it's one buck per pack.

[A]

Add it all up in the Sharpie is now as American as a Big Mac. And Levi's jeans riding a Harley Davidson baby.

[B]

More American than Levi's because jeans aren't Levi's jeans aren't made in the USA anymore.

[A]

Well, either way, President Trump already loved Sharpie markers for his huge signatures. That's actually a fact.

[B]

209 executive orders, all with a Sharpie marker.

[A]

Well, now President Trump wants to kiss that felt tip. So, Jack, what's the takeaway for our buddies over at. Could we do another Sharpie sound?

[B]

Sharpie. When two forces are competing, the bigger force wins. And the bigger force here is automation. Yetis.

[A]

President Trump wants Americans to make things here in America again, and we are all for that as well.

[B]

But you can't ignore the bigger force, which is automation, machines and robots doing work that humans used to.

[A]

Well, here's some interesting data to follow. The month that Donald Trump was first inaugurated as president. Back in 2017, there were 12.3 million manufacturing jobs in America.

[B]

In August of this year, which is the last month that we have data, there are 12.7 million manufacturing jobs in the United States, an increase of just 3% over eight years.

[A]

What we're saying here is that despite a Trump and Biden presidencies pushing U.S. manufacturing, it's still basically flat over those eight years.

[B]

If the goal of trade policy is to increase the number of manufacturing jobs in America, that's a worthy goal.

[A]

But it is going to fail if you don't have a policy for the bigger competing force facing all of this automation. Jack, could you whip up the takeaways for us for saviche Wednesday?

[B]

Gold is at crazy new all time highs. It's driven by the debate basement trade, which is concern for the US Dollar.

[A]

Yeah, Eddies, this issue ain't about the price. It's the dollar symbol at the beginning of the price.

[B]

For our second story, it's Rowan. That's the fast growing chain of piercing shops. It's expected to double sales this year to $150 million.

[A]

And it's all thanks to the window of loyalty. Whoever does that first piercing. Oh, they got a jewelry customer for life.

[B]

And our third and final story is sharp and markers. They're made in America again. And they did it without increasing prices.

[A]

Because of automation, which is the competing force against increasing manufacturing jobs.

[B]

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

[A]

First, LeBron James teased a major announcement yesterday. Even Wall street was watching to see what he was going to do.

[B]

Remember in 2008 when LeBron made the decision live on ESPN to leave Cleveland and take his talents to South Beach?

[A]

Literally, our bank pawned like work for the day because we were watching the decision. Well, everyone hated that decision.

[B]

So LeBron teased a second decision that happened yesterday.

[A]

Yeah, it was also a letdown, though it turns out it was simply an ad for Hennessey.

[B]

Second, Tesla also had a big announcement they were hyping up and it was announced yesterday, a slightly cheaper version of their existing cars.

[A]

Yeah, this was also a disappointment. You see, now that the $7,500 electric vehicle tax credit has gone, Tesla had to find a new way to lower the price to 5,000 bucks.

[B]

They did that, which is a nice achievement, but they massively overhyped what was.

[A]

Going to be announced. Basically, these new Teslas have no power, seats or Power steering wheel, no vegan leather, and they have less range.

[B]

The hyped announcement disappointed investors and the stock fell 5% on the news.

[A]

And finally, Instagram is getting into the awards business. Insta just announced Oscars for the gram.

[B]

It's actually what they call gold rings. Instagram and a committee of specialists will award 25 creators with gold rings.

[A]

Yeah, now, by the way, Zuck's not giving a cash prize on this. You're gonna get a digital prize. It's a gold ring around your profile picture. If you win it, there will only.

[B]

Be 25 of them though. So it's like a blue check mark, but way more super extra exclusive.

[A]

Now time for the best fact yet. This one sent in. And it's a voicemail from Jake Contos from Lovely Albuquerque, N.M. mexico.

[B]

Push and play.

[D]

Hey, Nick and Jack, this is Jake from Albuquerque. Just wanted to hop on and give a correction to one of the takeaways from Thursday's pod you had mentioned. Isaac Newton came up with the law of the conservation of energy, and this is technically not the case. In 1687, he laid out his three laws of motion in the Principia, implying the conservation of momentum and laying the foundation for classical mechanics. The law of the conservation of energy, however, is the first law of thermodynamics, dynamics, in which energy is neither created nor destroyed, simply transferred. And this emerged in the 18th and 19th centuries, formalizing the principle of energy conservation.

[B]

Nick, we're like 300 years off.

[A]

I know our physics a little rusty, Jack.

[B]

I gotta say though, the physics of our audience is on because this is one of the most corrected, factual mistakes we've ever made.

[A]

We've never had a mistake with so many corrections sent in. Like, it's like every YETI is an AP physics, so every science teacher out.

[B]

There, you should be proud.

[A]

Yetis, you look fantastic today. And by the way, whether you're judging us on our science backgrounds or not, we would love if you would drop down to leave us a five star review that helps us grow the show.

[B]

Also, we are tied for first place for best business podcast in the voting and voting ends tomorrow. We are tied at number one with 26% of the vote.

[A]

We got a link in the episode description so you can drop down and vote to help us win the award again.

[B]

It's best business podcast, not best science podcast. So we deserve your vote.

[A]

If you know, you know, Jack and I will see you tomorrow. And before we go, a happy birthday to legendary Eddie Kyle Howard. Born just outside San Francisco, now living just outside of Boston. And Joe Driano in Bellingham, Washington is a new dad to Genevieve. Congratulations guys.

[B]

Congratulations to Kim Murray of Ormond Beach, Florida, who just passed the final CPA exam.

[A]

And Adrina Kang is turning 18 years old in Orinda, California, gearing up for water polo season at the ol IU Baby Indiana University.

[B]

Go Hoosiers.

[A]

And a happy birthday to Shannon Jimenez in Orlando, Florida.

[B]

Orlando and to anyone else celebrating something today, make it a T boy.

[A]

Celebrate the wins. This is Jack.

[B]

I own stock in Disney and Netflix. Nick owns stock in Lululemon and Nike. And we both own some bitcoin.

[A]

Bitcoin name Ben.

[B]

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.

[A]

Prime members can listen ad free on Amazon Music.

[B]

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

[A]

Get to know you.

[E]

Look, it's okay to make some financial mistakes. We've all missed payments, signed up for cards we didn't need, or ignored our credit scores. You're not alone. That's why you need Experian, your big financial friend. The Experian app helps you check your FICO score, find ways to save, and get matched with credit card offers that fit your needs needs. Some cards are labeled no ding Decline, which means if you're not approved, they won't hurt your credit scores. So yeah, it's okay if you haven't been the best with your finances. That's why you've got Experian on your side. Download the app for free today. Applying for no Ding decline cards won't hurt your credit scores if you aren't initially approved. Initial approval will result in a hard inquiry, which may impact your credit score. Course experiment.