🚀 “Buzz Lightyearing” — SpaceX’s IPO. The Knicks’ MSG biz. Alo Yoga’s $1M yacht. +UNC’s billion-bet

Summary

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Podcast Summary: "🚽 Houston, we’re rich” — SpaceX’s janitor millionaires. Greed World Cup. Pizza Hut’s 1996-ification. +The M.A.N.G.O.S.

Podcast: The Best One Yet
Hosts: Jack Crivici-Kramer & Nick Martell
Episode Date: June 12, 2026

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Episode Overview

In this energetic and insightful episode, Nick and Jack dissect three of the brightest headlines in business: SpaceX's IPO creating an unlikely class of millionaire janitors (and University gains); the New York Knicks' paradoxical market value surge amid massive playoff success; and the luxurious, influencer-driven European expansion of Alo Yoga. Along the way, they mix humor, fresh angles, and practical takeaways, exploring how emotion, exclusivity, and executive personalities shape billion-dollar businesses.

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1. SpaceX’s IPO: "Janitor Millionaires" and University Windfalls

(Starts at 05:29)

Key Points

• SpaceX's historic IPO launches, with 555 million shares sold at $135 each, making it "the biggest IPO ever last night by almost 3x" (24:18).
• Retail investors got access to 30% of shares, while 70% went to institutional investors. The IPO was "four times oversubscribed," so most applicants weren't allocated shares (06:13).
• The big surprise? Early winners are not just SpaceX employees (including a famous ‘janitor millionaire’ story), but university endowments:
  • "As early as 2008, a dozen American college endowments invested in SpaceX." (01:25)
  • UNC holds 10% of its fund in SpaceX, now worth over $1B: "Now that 10% is worth a billion dollars. Sorry, Duke." (01:43)
  • WashU's $50M is now $2B; UVA saw a 20x return; Stanford's involvement via alumni VCs.
• Irony Alert: Elon Musk, who often trashes college as "overrated," made those same university funds richer than ever. "The same colleges that Elon thinks aren't worth it are worth more than ever now, thanks to Elon, who went to college, by the way." (02:18)

Notable Quotes

• Jack: "The real winner is your school." (01:22)
• Nick: "SpaceX's explicit goal is to create an interplanetary species." (07:14)
• Jack: "This is the first company to give Elon a trillion stock bonus if he founds a city on Mars." (07:23)

IPO Market Context and Risks

• SpaceX's two profitable businesses: Rockets (market leader in launches) and Starlink satellite internet, now with 10M subscribers—could one day challenge Verizon or T-Mobile.
• But 93% of SpaceX's touted future potential is based on AI, not rockets or internet:
  "Elon is telling you that the two most profitable parts of the business do not matter." (08:41)
• Recent billion-dollar AI partnerships with Anthropic and Google.
• Bullish Wall Street forecasts (from the IPO’s own bankers) contrast with risk: "If SpaceX remains behind ... in the AI race, that should tank SpaceX's stock price." (09:51)

Takeaway

• SpaceX stock is an Elon Musk trading card. Its value is emotional, not financial. (10:15, 10:47)
• Even though priced at "record breakingly overpriced" levels (11:07), people buy based on belief in Elon or his narrative, like collecting Pokémon or Pikachu cards (10:47, 11:42).
• "You should buy SpaceX if you believe in Elon's story ... or think enough other people believe it." (11:34)

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2. New York Knicks: Market Highs, the "Dolan Discount," and a Financial Mystery

(Starts at 11:58)

Key Points

• The Knicks are having a record season: "On Saturday could win their first championship in 53 years." (12:26)
• MSG Sports, which owns the Knicks (and Rangers), is seeing highs: “Up 52% so far this year” (13:27), but remains undervalued.
• Knicks' playoff success directly drives profit:
  • Playoffs = “profit puppy”—more games, more $$$: "A finals game brings in $20M of revenue per home game." (14:59)
  • 180M projected sales on this playoff run at 55% margins (15:06, 15:16)
• Breakdown by revenue:
  • Game day (tickets, merch, concessions): 38%
  • Media rights: 32%
  • Sponsorships/suites: 25% (Chase, Visa, DraftKings, etc.)

The Mystery: Why Is MSG Sports Stock Undervalued?

• The math doesn't add up: Knicks ($9B) + Rangers ($4B) = $13B, but MSG Sports' stock reflects only $9B value—"worth 40% less than the sum".
• The reason?
  • "Say hello to the Dolan Discount." (16:27)
  • Owner James Dolan is "very controversial, quite petty, and has been losing for decades" (16:57), so investors reduce the stock's price.
  • A possible spin-off is rumored, which could instantly unlock that missing value.

Notable Quotes

• Nick: "The playoffs are gravy, baby." (15:29)
• Jack: "Sometimes one person can completely change the fundamentals of a business." (16:35)
• Jack: "MSG Sports stock is at an all-time high because of the Knicks, but it's still undervalued because of its owner." (17:38)

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3. Alo Yoga's "Yacht Club" Strategy for European Expansion

(Starts at 20:03)

Key Points

• Alo Yoga is challenging Lululemon with its ultra-luxe brand: “Alo, which stands for air, land and ocean… like Lululemon and Gwyneth Paltrow had a baby who was raised inside of an Equinox.” (21:11)
• Their European launch? Renting a $1.1 million/week superyacht for the summer, making it a floating wellness resort and Instagram billboard.
• Invited 500 Instagram models (6.5M combined followers) for yoga, pilates, and “lymphatic drainages, cold plunges and chiropractors all on camera.” (22:48)
• All content will be spread across social, Alo’s app, and press.

The Marketing Philosophy: Exclusivity Over Inclusivity

• Lululemon’s founder Chip Wilson criticized inclusive marketing, but Alo leans fully into exclusivity:
  "A yacht in the south of France, fit Instagram models doing topless pull-ups on a diving board ... this is the kind of thing Lululemon's founder wishes Lululemon were doing today." (23:13, 23:25)
• "Alo may feel more free to do that kind of aspirational exclusive marketing because they're a startup," and not mass-market (24:01)

Notable Quotes

• Nick: "The best salesmen don't sell." (21:33)
• Jack: "In an inclusive world, Alo is choosing exclusive marketing." (23:07, 24:07)

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Mini Headlines & Memorable Moments

• SpaceX Janitor Millionaire: The story of a janitor who took stock instead of salary, now rich enough to buy a "golden mop." (01:17)
• Kylie Jenner’s Front Row Value: "Her Instagram pics at these games have generated $33 million in media value." (12:49)
• MSG Branding Overload: “The New York Knicks…play on JP Morgan Chase Court at Madison Square Garden, which is on Visa Avenue. Powered by Con Edison, with odds provided by DraftKings." (14:10)
• Alo’s Superyacht Details: Hair salon, pool, hammam, hydroponic veggie garden, “a crew of 21, sleeps 12.” (20:41, 21:01)
• Philosophy on Stock Prices: "For both Tesla and SpaceX, because of Elon Musk, the stock price has nothing to do with the financials. It's about the emotional excitement of owning an Elon-led company." (11:23)

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Timestamps for Key Segments

• SpaceX’s IPO / University Investors: 01:22 – 05:29, 05:29 – 11:58
• Knicks & MSG Sports Value: 11:58 – 17:38
• Alo Yoga's Yacht Launch: 20:03 – 24:11
• Takeaway Recap: 24:18 – 24:50

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Brief Segment: What Else You Need To Know

(24:50 – 25:57)

• Waymo launches a premium robotaxi club subscription (24:54)
• Producer inflation (6.5%) signals more consumer price hikes ahead (25:17)
• Ben & Jerry's co-founder Ben Cohen fights to buy brand back, interview coming soon (25:50)

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Fun Fact (Best Fact Yet)

(26:06)

• Scotland’s national animal in the World Cup is a unicorn, because it was the "deadly enemy of the lion" (England's symbol). (26:17–26:33)

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Overall Tone

• Fast, witty, and approachable, with cultural references (Pokémon, Van Wilder, Elle Woods, Star Wars, pop celebrities)
• Mixes serious financial concepts with playful banter and business metaphors (“profit puppy,” “gravy, baby”)

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Core Takeaways

• SpaceX: The IPO creates big winners, but valuation is about Musk’s mythos.
• Knicks / MSG: Hottest playoff run ever, but undervaluation due to "Dolan discount."
• Alo Yoga: Opting for ultra-aspirational, exclusive marketing in Europe, and closing on Lululemon in value.

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For more fresh takes and humor-laced business stories each morning, tune in to Nick & Jack’s "The Best One Yet."

Transcript

[A]

This is Nick, this is Jack. It's Friday. The real Friday, June 12th. And today's pod is the best one yet. This is a T Boy.

[B]

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

[A]

The mayor is Muslim. The bagels are Jewish. The Christian is Dior. The Knicks only need one more.

[B]

I think you're supposed to finish with the Knicks in four. Yeah, I guess that's no longer possible.

[A]

This is what we gotta work with. You gotta remix it. Yeties. We got three fantastic stories for the most fascinating show in business. Jack, what do we got on today's T boy?

[B]

For our first story, happy SpaceX IPO day to all those who celebrate.

[A]

But if you want to buy the stock, think of it like a Pokemon card.

[B]

For our second story, the New York Knicks could win the NBA Finals tomorrow night. But did you know the Knicks are publicly traded?

[A]

The Knicks stock is at an all time high and yet the Knicks are totally undervalued because of one specific person.

[B]

And our third and final story is Alo Yoga. They're launching in Europe by renting a yacht in the Mediterranean for a million dollars a week.

[A]

Oh, and the comments on are the content. We'll tell you what they're up to.

[B]

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

[A]

What a mix of stories. What a game. Love the mix. Today, Jack.

[B]

The surprise winner of the SpaceX IPO is not Elon Musk, the world's first trillionaire. Or SpaceX employees.

[A]

4,000 new millionaires.

[B]

Or even that one SpaceX janitor who took stock instead of a salary and

[A]

just bought a golden mop.

[B]

Jack, the real winner is your school.

[A]

Cause get this, SpaceX's top early investors were actually big American universities because besties. As early as 2008, a dozen American college endowments invested in SpaceX.

[B]

And that investment graduates today.

[A]

So UNC, yeah, they got 10% of their fund in SpaceX.

[B]

And now that 10% is worth a billion dollars. Sorry, Duke.

[A]

How about wash U&ST.

[B]

Lou?

[A]

They put 50 mil into SpaceX a

[B]

few years ago, which has appreciated to $2 billion.

[A]

What about the Wahoos of UVA? They got a 20x return on their SpaceX shares.

[B]

And Stanford University shocker grabbed a ride onto the cap table its million alumni that are now VCs.

[A]

I think half the freshmen invested in SpaceX 10 years ago, Jack.

[B]

But there's a plot twist here worthy of a term paper.

[A]

Because bestie SpaceX got the money from college funds.

[B]

But Elon Musk has publicly said that college is Overrated.

[A]

That's right. The same colleges that Elon thinks aren't

[B]

worth it are worth more than ever now, thanks to Elon, who went to

[A]

college, by the way.

[B]

So if your frat party feels Van

[A]

Wilder this weekend, and if Elle woods shows up at your sorority tonight, it's

[B]

because your college's unrealized gains just became extremely realized.

[A]

Yeah, it's the biggest party since Pluto became a planet.

[B]

The universities are like free printing for everyone. It's like that's what you're giving us. Free printing.

[A]

But it's the SpaceX library. Jack. 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 that caused 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 we ready 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,

[B]

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[A]

One lobster roll. No joke. 50 bucks on Nantucket. And why is that a problem, Jack?

[B]

Because we're going to Nantucket this summer on a joint family T Boy trip.

[A]

It's a write off. It is expensive, but we will travel with peace of mind because our financ finances are organized in Monarch despite the lobster rolls.

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ZipRecruiter.

[A]

Yet he's one thing we've never been accused of.

[B]

Lack of enthusiasm as you know, we set the cruise control of this show at 10 miles per hour over the podcast speed.

[A]

Well, according to CNBC, nearly half of hiring managers say enthusiasm is the most important factor when considering someone for the role.

[B]

Well, if you need to hire for your business, how can you separate the candidates who are really excited about the opportunity from those that are just met Mid ZipRecruiter?

[A]

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[B]

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[A]

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[A]

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[A]

match on ZipRecruiter for our first story. Any moment now, SpaceX stock will start trading and set a world record.

[B]

So should you buy SpaceX shares? That's a personal decision, but we have advice from Pikachu.

[A]

Ah, Yetis, this is not a galaxy far, far away. This is last night in New York City. What went down, Jack?

[B]

SpaceX printed 555 million new shares at the NASDAQ Stock Exchange and sold them to investors for 130.

[A]

Now, 30% of those brands, bank and new SpaceX shares, they went to retail investors like you and us.

[B]

70% went to big fund managers on Wall Street.

[A]

But since this IPO was four times

[B]

oversubscribed, in other words, there were four orders for every one share available.

[A]

Three quarters of us who requested SpaceX IPO stock from their broker, you didn't get it.

[B]

If you did get it, congratulations. There you go. Stock is likely to pop above its $135 price today, like most IPOs do.

[A]

The classic IPO stock population. Typically afterwards there's a stock drop, but begins with a pop.

[B]

If you didn't get the stock, you're not too late, because any minute now, it's going to begin trading and you can buy anytime.

[A]

Your FOMO will be satisfied, but the

[B]

price is constantly changing because this is the stock market.

[A]

So, Obi Wan Kenobi, here is our big question. Will the stock go up or down.

[B]

So we're going to give it our investment banker breakdown and then tell you how, when or if you should buy SpaceX stock.

[A]

But first, besties to sprinkle on some context. Remember last month we read through all of SpaceX's IPO paperwork for. You spent the whole weekend on it.

[B]

To be clear, it's a novel long IPO paperwork.

[A]

It kind of sounded like it was written by Luke Skywalker. Jack.

[B]

Yeah, and the banks are acting as the Jedi Council, apparently. Besties.

[A]

This is the first public company whose explicit goal is to create an interplanetary species.

[B]

It's also the first company to list

[A]

water, or lack of it as a

[B]

risk to the business.

[A]

And the first company to give Elon a trillion stock bonus if he founds a city on Mars with true story one million citizens.

[B]

That's all the fluff that was like wild to read. The core business. Here's a reminder for you. It's space and connectivity. Those are the two monopolies that SpaceX proudly operates today.

[A]

Now, SpaceX rockets, they did 40 launches in the last quarter, which is by

[B]

far the most of any company or government on planet Earth.

[A]

But what we find fascinating is that the boringest part of SpaceX pays for all of that.

[B]

Your monthly Internet bill. That's what pays for the rocket launches.

[A]

The WI fi. It's the most profitable business. Starlink, their satellite Internet service that George Jetson would probably use.

[B]

Starlink is pretty niche right now. It's got 10 million global subscribers. But one, it could become a bonafide wireless service and compete with Verizon, AT&T and T mobile.

[A]

Because Starlink already has deals with United Airlines, American Airlines and Southwest to give WI FI in the air.

[B]

All right, so those are the businesses that have shown profits already. The rocket launching space business and the Internet beaming connectivity business.

[A]

Ah, the profit puppies. But according to Elon, that's not what you should actually be excited about.

[B]

Another reminder from the S1 IPO paperwork of SpaceX. 93% of their total addressable market isn't space and isn't Star starlink. It's AI.

[A]

Elon is telling you that the two most profitable parts of the business do not matter.

[B]

The only two profitable parts of the business do not matter. 93% of their potential is AI, something they didn't even have a year ago.

[A]

And since this IPO paperwork dropped, we have learned new news that supports Elon's AI bullishness.

[B]

SpaceX signed two $1 billion a month compute deals with Anthropic and Google in the last month.

[A]

Basically, Big tech is paying AI rent to SpaceX's data centers.

[B]

Meanwhile, Goldman expects SpaceX's AI revenue to increase by 100x by just 2030.

[A]

And Morgan Stanley sees SpaceX's revenue reaching 3.4 trillion by 2040.

[B]

But let's bring those prospects back to earth a little bit. Literally, because Goldman and Morgan Stanley, those were the two banks that Elon chose to lead the ipo. So of course they're going to flatter Elon with their public bullishness of the company.

[A]

And only one thing has to go wrong for this SpaceX stock to fall in the first place.

[B]

That one thing is that Xai, their AI business continues to be a laggard

[A]

in the AI industry because OpenAI, Google, Anthropic, they're the ones leading the AI race right now.

[B]

So if SpaceX remains behind those three leaders in the AI race, that should tank SpaceX's stock price.

[A]

But Jack Elon has been known to defy the force of gravity. So should does not mean will.

[B]

So everyone, including my Lyft driver, wants to know, should I buy SpaceX stock right now?

[A]

All right, ground control to Major Tom. What's the takeaway for our Budd over at SpaceX?

[B]

SpaceX stock is an Elon Musk trading card. Its value is emotional, not financial.

[A]

Now, yetis, if you got SpaceX stock last night for 135 bucks a share, congrats. Celebrate the wins that'll probably pop in the short term.

[B]

I actually requested SpaceX stock from Robinhood, but as of this recording, they haven't told me if I got allocated any shares yet or not.

[A]

Now, the stock may pop again on day 15 when SpaceX joins the NASDAQ 100 index and a bunch of funds have to buy it.

[B]

But beyond that, beyond day 15, trying to predict the price of SpaceX stock is like trying to predict the price of a Pokemon card.

[A]

See, like a Pokemon card, SpaceX could get you rich. But to answer what it's worth, Elon is like the seller on ebay and he's trying to say it's worth 135 bucks right now.

[B]

But Nick, by any basic financial calculation, like comparing the stock price to the company's profits or sales, 135 bucks a share is incredibly overpriced.

[A]

It is record breakingly overpriced.

[B]

It is three times more overpriced than the second most overpriced stock on the S&P 500.

[A]

But then, Jack, by that same financial classic logic, Tesla has been overvalued its entire life and it's doing pretty fine.

[B]

You see, for Both Tesla and SpaceX, because of Elon Musk, the stock price has nothing to do with the financials.

[A]

No, it doesn't.

[B]

It's about the emotional excitement of owning an Elon led company.

[A]

So, besties, you should buy SpaceX if one of two things. First, you believe in Elon's story and want to own a piece of it,

[B]

like a Pokemon card.

[A]

Or if you think enough of other people believe Elon's story that his trading

[B]

card will appreciate like a Pikachu card.

[A]

SpaceX stock, it's an Elon Musk trading card.

[B]

Its value is emotional, not financial.

[A]

For our second story, the New York Knicks have one wild financial mystery.

[B]

Their publicly traded MSG stock is at an all time high and yet it's still totally undervalued because of one person.

[A]

Besties. Big moment right now for guys named Nick who are from New York. Like we're the other New York Knicks. We're finally getting some recognition.

[B]

People are asking Nick about this because on Wednesday night, the Knicks pulled off the biggest NBA Finals comeback in history.

[A]

That's right, the New York Nicklauses, I mean the New York Knickerbockers on Saturday could win their first championship in 53 years.

[B]

Right now, the hottest New York City real estate isn't Central park west, it's courtside. Whoever's sitting between Ben Stiller and Chalamet.

[A]

You see, there's more net worth in celebrity row at Madison Square Garden right now than the GDP of the country of Brunei.

[B]

According to Vogue magazine, Kylie Jenner's Instagram pics at these games have generated $33 million in media value.

[A]

She spent most of that $100,000 ticket on her phone during the fourth quarter.

[B]

So Nick and I dove into the financial paint like a young Charles Oakley. There are actually two publicly traded stocks with MSG in the name. There's MSG E, which owns the Arena, Madison Square Garden plus Radio City and Beacon Theater in New York City, which

[A]

we hope to play one day. And then there's MSG Sports, the company that owns the Knicks and the Rangers, which play inside Madison Square Garden.

[B]

Both of those stocks are at all time highs as the Knicks haven't made a run like this since 1973.

[A]

No, they haven't. But it's the Knicks and the Rangers company, MSG Sports. That's a up 52% so far this year in the market because for this

[B]

company, MSG Sports, 38% of the revenue is related to Game day.

[A]

That's right. The tickets, the merch, the overpriced food and the extra overpriced beverages.

[B]

The $40 hat, the $50 worth of beer, the $500 tickets. Multiply all that by the 18,000 seats in Madison Square Garden.

[A]

That's 38% of the business. But the next biggest part is the media deals.

[B]

32% of sales come from selling TV rights to the TV networks.

[A]

10 second highlight of Brunson's three pointer. That's going to cost you 20,000. ESPN.

[B]

Now, the most conspicuous revenue source for the Knicks is the sponsors and the sweets.

[A]

Ah, that would be 25% of the

[B]

revenues because the New York Knicks. True story. Play on JP Morgan Chase Court at

[A]

Madison Square Garden, which is on Visa Avenue. Powered by Con Edison, with odds provided by DraftKings. Jack.

[B]

And your Coca Cola is brought to you by Coca Cola.

[A]

No kidding. And Petco, the official pet food of the men's urinals at Chase Madison Square Garden.

[B]

So what drives a good year from a bad year for MSG Sports? It's simply the number of games.

[A]

Mo games, mo money, as Snoop would say.

[B]

In other words, playoffs. The longer you go in the playoffs, the more profit this company makes.

[A]

Playoffs are the profit, puppy. Because Bestie's a regular season basketball game or a hockey game that generates $4 million in cash.

[B]

But a first round playoff basketball game brings in $8 million per game.

[A]

And a second round home game brought in $12 million.

[B]

This year, the conference finals brings in 15 million per game. And the finals brings in brings in $20 million of revenue per home game.

[A]

Add it all up and MSG's projecting 180 million bucks in sales just on this playoff run.

[B]

And playoff revenues are better than regular season revenues. 55% margin.

[A]

And why is that, Jack?

[B]

That's a $40 hat in regular season, but it's $140 because they put that NBA Finals patch on there. Plus all those fixed costs of the season, they've been paid for already. So the playoffs is just gravy for the income statement.

[A]

As Walt Clyde Frazier would say, the playoffs are gravy, baby.

[B]

That's why MSG Sports stock is up 30% since the playoffs began.

[A]

It's now worth $9.3 billion, which is more than one lift.

[B]

But I'm calling a technical foul.

[A]

Please, Jack.

[B]

Because there's a bunch of publications on the web right now estimating the valuations of each pro sports franchise. You've seen the lists?

[A]

Yeah. New York City is the biggest media market in the world. So the New York Knicks are valued at $9 billion individually, and the New York Rangers are valued at $4 billion individually.

[B]

Now, I don't think I've ever had a concussion, but if the knicks are worth 9 billion and the Rangers are worth 4, it should be a $13 billion company. MSG Sports. But it's not worth $13 billion. According to MSG Sports stock price, it's worth $9 billion.

[A]

So Jack and I just had to ask, why is the MSG sports stock worth 40% less than the sum of its individual hockey and basketball parts? So, Jack, what's the takeaway for our buddies, the New York Knicks?

[B]

Say hello to the Dolan Discount.

[A]

The Dolan Discount. Yetis, sometimes one person can completely change the fundamentals of a business.

[B]

Like how Tesla and SpaceX have defied its financial fundamentals because of Elon Musk.

[A]

But in the opposite direction, we have Madison Square Garden and the man, James Dolan.

[B]

James Dolan is the son of the founder of Cablevision, and he inherited the New York Knicks and the New York Rangers from his dad.

[A]

Okay, but James Dolan is not just some nepopreneur. He is the creator of the hugely successful sphere over in Las Vegas.

[B]

But for MSG Sports, he owns 71% of the company. He's very controversial, he's quite petty, and he's been losing for decades.

[A]

The result? Investors devalue MSG stock because of one man, and it is called the Dolan Discount.

[B]

There's also the conglomeration discount. Sometimes investors prefer owning one clean asset and get annoyed when the story is blurred by a sport that they're not fans of.

[A]

Which is why on Wall street, there are rumors now Dolan will split up this MSG business into the $9 billion Knicks company and then a separate corporate $4 billion Rangers company, which overnight would

[B]

increase the combined value by 40%.

[A]

But in the meantime, besties, we think this is the wildest financial story in sports.

[B]

MSG Sports stock is at an all time high because of the Knicks, but it's still undervalued because of its owner.

[A]

Now, a quick word from our sponsor,

[B]

Biro Premium Non Alcoholic Beer.

[A]

All right. Yet he's a little behind the scenes here. Before our New York City live show back in April, Jack and I went sober for two weeks. True story.

[B]

Couldn't risk getting sick. I didn't want to be groggy. I couldn't afford a hangover.

[A]

It was New York, baby. Okay, But Jack, celebrating the wins is what we do. And so, for our live shows, we crack open something special.

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So we drank beer O the premium non alcoholic beer brand co founded by Tom Holland.

[A]

Yeah, actually first saw it at my grocery store. Delicious. Tastes like a celebration. Feels fantastic and looks legit. More on the looks in a sec.

[B]

And if it's good enough for the actor who played Spider man, it's good enough for us.

[A]

You see it pairs well with the picture pickleball game of profitable earnings report or with the best podcast.

[B]

So Yetis, if you wanna celebrate the wins with all the taste of a premium lager or ipa but none of the alcohol, there's no better choice than beer.

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Okay, pause the pod. Did we mention the can is straight up gold? This thing will stand out at every one of your next parties. Trust us, we've done it.

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So Basties, if there's a win, you're celebrating every day. Bero is the non alcoholic brew brand you gotta bring.

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[A]

for our third and final story, Aloe yoga, which is crushing Lululemon right now, is officially expanding to Europe.

[B]

They're doing it with a yacht that costs $1 million per week.

[A]

Yeti is funny thing, Jack was telling me last week he noticed something on Alix Earle's Instagram feed. So he DMed her and she didn't respond.

[B]

No, no, I noticed a bunch of Pictures in the south of France that were either her and a bathing suit. Her eating, incredibly healthy looking and yet still delicious looking food. The salmon bowls, or her doing yoga on a branded yacht.

[A]

That yacht, a 236 foot San Lorenzo super yacht.

[B]

The biggest yacht that this Italian shipmaker has ever made.

[A]

It includes a hair salon, a pool, a hammam, a hydroponic veggie garden on the starboard bow.

[B]

Baby, can you clarify what a hammam is? For those of us who don't know,

[A]

Nick, it's the opposite of a cold plunge, Jack. This thing, it's got a crew of 21, it sleeps 12, and it's gonna set you back $1.1 million per a week.

[B]

This vessel has two crew members for each one guest.

[A]

But you can't rent it out because it's already been rented all summer by Alo.

[B]

Alo, which stands for air, land and ocean.

[A]

They're like Lululemon and Gwyneth Paltrow had a baby who was raised inside of an equinox.

[B]

But here's the news. This LA based yoga brand is expanding to Europe.

[A]

That's right, that boat, it's a billboard. Their new flagship store, it's gonna be in Paris on the Champs Elysees et.

[B]

Now, the first time Nick and I covered aloe yoga was two years ago. Our takeaway then was that the best salesmen don't sell.

[A]

The best salesmen don't sell because when you look at a typical aloe store, it's more like a sanctuary. In fact, they call it that because

[B]

they stuck a podcast studio inside a yoga studio inside the retail store.

[A]

Yeah, the aloe retail stores, they're designed to be more like clubs than actual stores. You do the classes there.

[B]

You go in for a Pilates class. You can also get vitamin B12 IV drips. You can also record a podcast there for some reason.

[A]

Yeah, our prediction, Brotox, coming soon to the aloe near you.

[B]

And by not trying to sell you something, you end up buying something.

[A]

And that is why aloe is now worth an estimated 10 billion bucks in value. Jack, can you sprinkle on some context, please?

[B]

Now that Lululemon stock is down 75%, Aloe's $10 billion valuation is chomping at the bits of Lulu's $13 billion.

[A]

But besties, this situation, this luxury yacht, this is different, right, Jack?

[B]

A $12 million summer boat rental in the south of France with a 30 foot custom Alo yoga logo on the hull.

[A]

You stop at the Cannes Films Festival and the Monaco Grand Prix in this economy.

[B]

Alo Yoga invited 500 models to this yacht with a combined 6.5 million followers. Who've seen all these posts.

[A]

Are you not influenced yet?

[B]

They turned a yacht into a wellness resort with Pilates and yoga classes constantly happening on deck.

[A]

That's by day. But then by night, they're doing lymphatic drainages, cold plunges, and chiropractors all on camera.

[B]

And they film the whole thing. It's generated tons of content, including that carousel post of Alex Earl.

[A]

All this content probably will end up in the Alo app too. So, Jack, what's the takeaway for our

[B]

buddies over at ALO in an inclusive world? Alo is choosing exclusive marketing Yetis.

[A]

All right, we got a yacht, the south of France, fit Instagram models only doing topless pull ups on a diving board.

[B]

We bet this is the kind of thing Lululemon's founder wishes Lululemon were doing today.

[A]

Yeah, Chip Wilson, the founder and former CEO of L Lululemon, he spent years trashing the company's inclusive marketing.

[B]

Here's what he said once you've got to be clear that you don't want certain customers coming into your store.

[A]

Now that's a direct quote. And a kind interpretation of that sentence is that to be aspirational, you have to be exclusive.

[B]

A negative interpretation of that sentence is that he's judgmental and offensive and he got fired for saying that kind of thing.

[A]

Well, Alo's Instagram and the accounts of their Instagram models are sipping bubbles on Alo's yacht right now.

[B]

Alo may feel more free to do that kind of aspirational exclus marketing because they're a startup.

[A]

They're not a mass market player like Lulu. They're not publicly traded. They're not trying to sell to everyone.

[B]

In an inclusive world, Alo is clearly choosing exclusive marketing.

[A]

So let us know your thoughts in the comments. Jack, could you whip up the takeaways for us for the real Friday?

[B]

SpaceX became the biggest IPO ever last night by almost 3x, and it starts trading today.

[A]

And SpaceX's valuation is based on emotions, not finances. Like a Pikachu trading card.

[B]

For our second story, the New York Knicks are a financial mystery. They just had their most profitable year ever, thanks to the playoffs.

[A]

But the stock's 40% less than what it should be. That's the Dolan discount.

[B]

And our third and final story is Aloe Yoga. They're expanding to Europe this summer with a yacht and an army of Instagram

[A]

models in an Inclusive world. Alo's going exclusive.

[B]

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

[A]

First, Waymo is going fancy. They're launching a premium subscription. 30 bucks a month for the robotap. This is Club Waymo.

[B]

It gets you in the front of the line for Waymo requests and early access to new Waymo cities. If you want to hear this as a full story, let us know in the comments.

[A]

And second, we've got an inflation secret for you. If you want to know what's happening with prices next, don't look at the consumer inflation report that everyone else does.

[B]

Look at the producer inflation report, which just hit 6.5% yesterday, the highest year over year increase since November of 2022.

[A]

You see companies see costs rise before us consumers do, but eventually they pass it on to us, jacking up prices in aisle six.

[B]

So the 4.2% consumer inflation we saw a couple days ago looks like that's gonna be going up given 6.5% producer inflation.

[A]

And finally, Ben and Jerry's co founder, Ben Cohen just came out swinging saying Ben and Jerry's owner is killing the brand and melting it down.

[B]

Burlington's finest, Ben Cohen is trying to buy Ben and Jerry's back from Magnum.

[A]

But we've got big news, don't we, Jack?

[B]

We just landed an interview with Ben Cohen of Ben and Jerry's, which is kind of a lifelong goal, by the way.

[A]

We've been working on this for years

[B]

now, and we're publishing it next week.

[A]

Now, time for the best fact yet. This one's submitted by Stephen Dempsey in a comment on YouTube.

[B]

As we said yesterday, we're done complaining about World cup ticket prices, and now we're just gonna get excited for the games.

[A]

All right, let's see some games, baby. Well, Scotland's national team is in the World cup and they're all staying in Providence, Rhode island, right now, by the way. Yeah.

[B]

Funny detail, though. Their national animal, Scotland, a unicorn.

[A]

And why is that, Jack?

[B]

In mythology, the unicorn is considered the deadly enemy of the lion.

[A]

Since England's national animal was a lion, the unicorn was the fitting fighter for the Scots. Yetis, you look fantastic today. Jack, you are glowing over there. Going into the weekend, my friend.

[B]

Yetis, if you want to treat yourself, buy those tickets to our live show. Seattle, San Francisco, Boston, this fall. We'll see you there.

[A]

And trust us, there will be celebrities in the front row after this Nick series. Chalamet. He's coming to the T Boy shows, isn't he Jack.

[B]

Yeah, he's Nick and I. I'll see you Monday. Celebrate the wins.

[A]

And before we go, a happy birthday to legendary yeti Danielle Dubose, who's got a birthday in Denver and getting married to her fiance Bubba just next week.

[B]

Happy birthday to Emma Sims in New York City. Came to our New York City live show. Both our New York City live shows with her buddy Christina.

[A]

And a happy 45th to Matt Tamalini over in Maui, Hawaii, a daily listener since the snacks days. Thank you, Matt Happ.

[B]

Happy birthday to Levi Hunter Gerard turning five years old with trolls in the backyard in Framingham, Mass.

[A]

And Paula Leonard's happy 65th birthday over in Temperance, Michigan.

[B]

Happy birthday to Sandra Warkoff, the proud Peruvian.

[A]

And Luke Werkamp in Sioux Falls, South Dakota's catching big fish for the big dirth day.

[B]

And Anna Kerfoot from Nevada, you flew to Boston to help a fellow yeti after a double mastectomy. Big shout out for that move.

[A]

And Cassidy Carter and Callum over in Orland, Pennsylvania. They've got got a big celebration of

[B]

a graduation and finally, a big shout out to Alex, my wife Nick. This is our meetiversary.

[A]

This is our meet cute anniversary baby. Are you kidding?

[B]

Mike Durkin's bachelor party. I was at Sugarbush. She was at Sugarbush. I got her number.

[A]

And there's a Met story involved.

[B]

The Met story came a week later. We'll get to that later. That's a story for another pod. This is Jack. I own stock of Lyft. Nick owns stock of Lululemon. We both own ETFs of the S&P 500. And we might own SpaceX stock by the time that this pod is we might own SpaceX doc by the time this episode publishes the Drop by gnc.

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