💉 “Corporate Botox” — Block’s 40% layoff. Netflix’s wedding crashed. Coach Handbags’ anthropologist. +Burger King’s AI

Summary

Podcast Summary: The Best One Yet — “Corporate Botox” — Block’s 50% firing, Coach Handbags’ anthropologist, Netflix’s wedding crashers, Burger King AI Please

Hosts: Jack Crivici-Kramer & Nick Martell
Date: March 2, 2026
Duration: ~28 min (content summary excludes ads, intros, outros)

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Episode Overview

This episode dives into three of the biggest pop-biz stories of the week:

1. Jack Dorsey’s massive AI-driven layoffs at Block and the nuanced future of AI in corporate America.
2. Coach’s explosive growth among Gen Z, thanks in part to a chief marketing officer with an anthropologist’s mindset.
3. The end of a Hollywood M&A “love triangle,” where Netflix loses out to Paramount for Warner Bros.—and why that's actually a win for Netflix.

The hosts’ signature witty banter and fresh business analysis come through in each segment, making even complex topics entertaining and digestible.

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Key Discussion Points & Insights

1. Block Lays Off 50% of Workforce: AI as “Corporate Botox”?

Timestamps: 06:46–11:09

• Jack Dorsey’s Drastic Move:

  • Last week, Jack Dorsey (Block founder, ex-Twitter CEO) fired 4,000 employees, nearly half of Block’s workforce, in a single tweet—typed entirely in lowercase.
  • Dorsey explicitly said AI would replace these workers.

• AI: Doom or Cosmetic Change?

  • While doom-laden headlines predict a mass “AI jobpocalypse,” the hosts introduce more optimistic frameworks:
    • Corporate Ozempic: AI as a tool to cut company size but boost output.
    • Corporate Liposuction/Amputation: Dorsey’s approach—massive quick cuts.
    • Corporate Botox: A less severe take from Citadel Securities—a view that AI will mostly enhance, not destroy, white-collar jobs.
  • According to Citadel, AI’s big impact will be in boosting productivity, raising new business formation, and possibly triggering a government “AI tax” to redistribute profit windfalls.

• Why Did Dorsey Do It? Mojo vs. Ego:

  • The move may be less about an AI revolution and more about Dorsey’s attempt to regain “mojo” and relevance, as the company’s stock had plummeted 75% from its all-time high.

• Market Reaction:

  • Wall Street loved it: Block’s stock surged 25% post-announcement.

• Quote:

  • [09:54] Jack: “Here’s a theory. AI is like corporate Botox. It doesn’t cut workers, it enhances them.”

2. Coach’s Secret Weapon: An Anthropologist in the C-Suite

Timestamps: 11:09–15:25

• Coach’s Meteoric Growth:

  • Coach’s stock is up 4x since 2024, driven by surging demand for their $350 Tabby bag among Gen Z.
  • Sold to 3 million new (mostly Gen Z) customers last quarter—a record for the brand.

• Marketing Innovation: Anthropology In Action:

  • June Silverstein, Coach’s chief marketing officer, studied anthropology (not the usual MBA/marketing pedigree).
  • She regularly visits the homes and closets of real consumers—observing their routines to get authentic behavioral insights.
  • This “ethnographic” approach led to the creation of bag charms, recognizing Gen Z’s desire to personalize even their accessories’ accessories.

• Notable Quote:

  • [15:01] Jack quoting Silverstein: “Brands mistake data for insight.”
  • [15:08] Jack: “Observing customers reveals insights that they don’t even know themselves or can’t yet articulate.”

• Takeaway:

  • To understand your customer, act like Jane Goodall—don’t just rely on data; do immersive, real-world observation.

3. Netflix, Paramount & Warner Bros: A Wedding Crashers Analogy

Timestamps: 17:12–22:03

• The Love Triangle:

  • Netflix was poised to acquire Warner Bros. for $83B but lost out to a competing $90B bid from Paramount.
  • The hosts deftly spin the drama as a scene out of Wedding Crashers: Warner Bros. as the “bride,” Netflix as the “steady fiancé,” and Paramount as the flashy “ex” crashing the engagement.

• Why Netflix Actually Wins by Losing:

  • Netflix’s bid tanked its own stock by 31%; Wall Street did NOT want the deal.
  • Paramount’s winning bid overvalues Warner Bros. (offering $31/share for a company trading at $8 before), saddling them with huge debt:
    • “[20:09] Paramount took out a $60 billion loan to beat Netflix and buy Warner Bros. They put that big ring on the old credit card.”
  • Netflix keeps a $2.8 billion “breakup fee” and sees its stock surge 20% after walking away.
  • Paramount now owns CBS and CNN; the Ellison family (longtime conservative donors) gains massive control over American media.

• Society/Culture Impact:

  • Hosts call out the seismic shift:
    • “[21:51] Nick: The Ellison family now controls an unbelievable amount of American media... mainstream media, it's undergone a complete and utter 180.”
  • The concentration of media ownership and its potential political ramifications are highlighted.

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Notable Quotes & Memorable Moments

• On Jack Dorsey’s Layoffs:

  • “[07:58] Nick: And this tweet, it didn’t even have any capital letters in it. He fired 4,000 people. All in lowercase.”
  • “[08:03] Jack: It was like the Avengers, Infinity Wars, Snap. Half of the workforce of Block was gone.”

• On Coach’s Ethnography:

  • “[13:31] Nick: Every quarter June visits the homes of women 18 to 30 years old. The target customer of Coach handbags."
  • “[13:48] Jack: I assume she’s been invited, but she will literally pop into somebody’s apartment, hang out in their closet, look around ...”

• On Netflix-Paramount-Warner Bros.:

  • “[18:07] Jack: Oh, [Paramount’s] the rich ex who’s constantly DMing the bride, telling her to reconsider and even showing up at the rehearsal dinner.”
  • “[20:54] Jack: Netflix lost the bride, but Netflix still gets paid. Its investor buddies in the bridal party are pumped, and its rival just overspent on a ring.”

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Key Timestamps

• Block Layoffs & AI “Botox” Theory: 06:46–11:09
• Coach’s Anthropologist CMO & Gen Z Boom: 11:09–15:25
• Netflix-Paramount-Warner Bros. M&A Drama: 17:12–22:03

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Bonus: Quick Hits (22:44–24:13)

• FedEx to refund customers who paid tariffs, putting pressure on others to do the same.
• Warby Parker posts first-ever annual net profit; plans to use AI and expand retail.
• Mr. Clean mascot “retires” (but hosts bet he’ll be back).

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Takeaways for Listeners

• AI in the Workplace: Mass layoffs at one company don’t always signal a universal trend—AI may augment rather than eliminate most jobs.
• Marketing Innovation: The future of brand growth may belong not to number-crunchers, but to modern-day Jane Goodalls who observe and understand how people really live.
• Media Power Shifts: Even apparent defeats (like Netflix losing Warner Bros.) may be wins in disguise—especially when rivals overpay and overextend.

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For Those Who Missed It

The episode is a sharp, entertaining business news roundup, mixing Wall Street insight with clever cultural commentary—and more than a few hugs for their Yeti fanbase.
If you want to sound smart at work, you’ll walk away with analogies, talking points, and business trends you can actually use.

Transcript

[A]

Yetis, Nick and Jack here with you from the T Boy studio. Before we hit our usual show, we wanted to acknowledge the news from over the weekend in Iran.

[B]

The US and Israeli militaries attacked over 2,000 targets in Iran with missile strikes.

[A]

Iran confirmed that their supreme leader was killed in the attacks. And the Islamic nation of 92 million people has not yet named a new leader.

[B]

As of this update Sunday evening, three American troops have sadly been confirmed killed.

[A]

Wall street is already bracing for the conflict. Airplane stocks are already down. Oil prices already up, and so are defense stocks.

[B]

It's a scary moment for the country and the world. A mass shooting happened in Austin yesterday, not far from where we were last week, with three dead and 14 wounded, and that is being investigated by the FBI as a potential act of terrorism linked to what's happening in Iran.

[A]

Now, besties Jack and I recorded the rest of this show before the attacks happened on Saturday. But we will be following the situation all week long and cover how it affects the world of business, economics and finance in our own unique way, just like we always do.

[B]

So let's hit the show. This is Nick.

[A]

This is Jack. Welcome back. It is Monday, March 2, and today's pod is the best one yet. This is a T, boy. The top three pop business news stories

[B]

you need to know today. Oh, boy.

[A]

I had one too many tacos last week, Jack.

[B]

So, Nick, my aunt and uncle who are at the live show in Austin. Yeah. They said, jack, your fans adore you.

[A]

It was amazing.

[B]

True, and I love that. But the real truth, I adore them.

[A]

Oh, my God, Jack. I ran into a yeti on the flight home. I didn't even tell you. We were hugging in the aisle of the plane, both wearing the merch. People didn't know what I was going.

[B]

I haven't given out so many hugs since college, Nick.

[A]

Oh, it was absolutely amazing.

[B]

Interpret that how you see fit.

[A]

You were looking fantastic. What a show. We can't wait for the next one. But, Jack, we got three fantastic stories to catch up on today, my friend.

[B]

For our first story, Jack Dorsey of Block announced he's letting go nearly half the company.

[A]

So here's the question. Is AI Corporate Ozempic, corporate corporate liposuction or corporate Botox?

[B]

For our second story, it's the hottest brand in fashion right now. Coach, their $350 tabby bag is Gen Z's Fire.

[A]

And Coach knows because it put an anthropologist in charge of marketing.

[B]

And our third and final story, the Netflix, Paramount, Warner Bros. Love triangle is over.

[A]

Oh, boy.

[B]

Netflix lost and is alone.

[A]

But we think Netflix's loss is really a win. And we're gonna break down the impact on Wall Street, Hollywood society, even on tmz.

[B]

But Yetis, before we hit that wonderful mix. What a mix to come back to.

[A]

Jack, I love the mix, man.

[B]

If you don't say please and thank you, watch out.

[A]

Yeah. Because Burger King's line manager is gonna come and spank you.

[B]

Get this. Yetis, Burger King's newest product isn't a nugget, a burger or a Whopper.

[A]

No, no, no, no, no. It is a surveillance technology to ensure that workers mind their P's and their Q's.

[B]

That's right. Burger King collaborated with OpenAI on a new chatbot that they call Patty.

[A]

And Patty's got one job and one job only. And what is that, Jack?

[B]

Ensure friendliness from the staff.

[A]

No, no, Jack. I think it's ensure friendliness from the staff.

[B]

Yeah, you have to say it while you're smiling or else it doesn't count. Now, Burger King calls this an AI coach. We call it an AI snitch.

[A]

Cause it's basically a manners micromanager.

[B]

Here's the story. Patty lives in the burger flippers headsets and listens for specific polite words from the staff.

[A]

So this AI, it's enforcing your welcomes.

[B]

If you don't say pardon, you don't get promotion.

[A]

Oh, and if you forget that the

[B]

customer is always right, then Burger King's AI will rat you out.

[A]

Besties. This is just like Emily Post famous 1922 book, the Rules of Etiquette.

[B]

Except it's 2026. Yeah, so it's not for tea parties. It's for our dystopian fast feud, not future present. Apparently.

[A]

Yeah, we should point out 75% of American companies do some sort of employee monitoring these days.

[B]

But this is the first time they're using AI to make please a KPI.

[A]

So yeah, it is. If you are at a Burger King drive thru right now, you know what we're thinking.

[B]

Say really loudly, thank you for being so wonderfully friendly, Tiffany.

[A]

So that Tiffany's AI tells Tiffany's boss to make Tiffany the new boss to

[B]

give Tiffany a promotion.

[A]

Tiffany, you nailed it. Best burger I've ever had. Jack, let's hit our true story. 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 a 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 Liz 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. First, a quick word from our sponsor, Yeties. Jack had a lifelong dream of owning a ski house. But then he married a skier who's better at skiing than him, which put

[B]

the pressure on to really own a ski house.

[A]

Okay, but still, ski house is very expensive. So what helped make Jack's dream doable? Airbnb.

[B]

I bought the chalet in 2024 and I use it very often with my own family. But when we're not using it, I host it on Airbnb. Especially those three day weekends when ski houses are in most demand.

[A]

The additional income Jack earns from hosting his home on Airbnb, it helps make owning the secondary property possible.

[B]

President's Day weekend coming up. Nick.

[A]

Lot of people want to go skiing, Jack.

[B]

I've done a ton of skiing this season already. I want to go to Florida with my family. The extra income I earn from hosting on Airbnb helps offset those travel costs.

[A]

Four adults, four children from just outside Boston. Boom. They just booked a stay on Jack Chalet.

[B]

Primary home or secondary home? If you've got space, you've got opportunity. Hosting on Airbnb helped make my dream possible.

[A]

Besties, your home might be worth more than you think. Find out how [e-mail] host

[B]

Manus AI Yetis.

[A]

So when are we using AI? When we're jumping in T boy style to some research.

[B]

Why crunch numbers in that earnings report when a bot will do it for you?

[A]

Don't worry, Jack's love language is fact checking. So everything gets a double check. Fact check before it makes the pod.

[B]

You know it. No AI slopper out.

[A]

No. So Jack and I are pumped to tell you about Manus AI, the hot new AI agent that does more than just answer your your questions.

[B]

It does tasks for you that you don't want to do to get your work done faster and better.

[A]

Manus is the most powerful AI agent for people who don't code.

[B]

We just asked Manus where the CEOs of the 100 most profitable companies went to college. Boom. It created it for us.

[A]

Or you could ask Manus to launch an e commerce shop for you.

[B]

Boom.

[A]

You're Anna Wintour.

[B]

Manus connects the most advanced LLMs with a set of tools to deliver real world tasks.

[A]

Oh, by the way, Manus means hands in Latin. Because like hands, manus is pretty darn useful to humans and you can get

[B]

your hands on Manus AI for free.

[A]

Visit manus.in. to get started with Manus and some T boy special Credits.

[B]

That's Manus IM/tbly.

[A]

For our first story, Jack Dorsey became the grim reaper of AI last week, laying off 4,000 workers with one single tweet.

[B]

But the doomsday narrative on AI could be wrong. So here's a more optimistic case. And it involves plastic surgery.

[A]

Yetis five years ago, Jack Dorsey, not best friend co host Jack over here, was one of the three most powerful people in the technology industry.

[B]

First of all, he had the username Jack on Twitter. He was also though, the CEO and co founder of both Twitter and Square.

[A]

Yeah, that's right. Under Jack Dorsey, Twitter was a booming king of culture and Square was the fintech queen.

[B]

Five years ago, Square stock 5XED and hit a $100 billion valuation.

[A]

But today it's a different story for Jack Dorse these companies. Twitter is basically Elon's AI toy and Square got renamed to Block.

[B]

It's now worth 1/4 as much as it was five years ago.

[A]

And since selling Twitter to Elon, Jack Dorsey's beard has only gotten longer, while his silence has only gotten longer as well.

[B]

Until last week, he broke his silence in one tweet. Jack Dorsey fired 4,000 people.

[A]

Wow.

[B]

That's 40% of Block's workforce.

[A]

And this tweet, it didn't even have any capital letters in it. He fired 4,000 people. All in lowercase.

[B]

It was like the Avengers, Infinity Wars, Snap. Half of the workforce of Block was gone.

[A]

It's like a freaky superhero plot twist. But it wasn't Thanos, though. Jack Dorsley explicitly said that he's replacing these 4,000 workers with one very specific employee.

[B]

AI and Yetis. You know what this is about? It's the same thing that that doomsday essay was about last week from Citrini Research.

[A]

So it is easy to reach the conclusion that this is the start of a trend. An AI jobpocalypse.

[B]

But there's a couple of reasons to believe maybe this isn't a trend. Maybe what Jack Dorsey did at Block is just a one off.

[A]

Yeah, maybe this is Mojo and ego. Mojo and ego. Jack, take it away.

[B]

Block stock has lost all its mojo. It's down 75% from its all time high. Again, just like Jack Dorsey's beard.

[A]

So maybe this mass layoff is because Block's lost its business mojo. But maybe instead it's because of Jack Dorsey's ego.

[B]

The founder of Block, Jack Dorsey, he has super shares of the company, so he can't be fired by the board.

[A]

So instead, Jack just fired 4,000 workers. Maybe this is an attention seeking move to become relevant again as one of the big three dudes of tech after

[B]

all his 4000 fire tweet, it got a lot of attention on Twitter, his favorite platform.

[A]

But besties, whether or not it's mojo or ego, this worked. It worked really well for Block shareholders.

[B]

Block stock had its best day in years. It surged 25% on Friday.

[A]

So clearly Wall street approves of CEOs replacing humans with way cheaper AI instead.

[B]

And many are speculating that Jack's Block layoffs give cover for other CEOs to make similar moves.

[A]

We're talking mass layoffs here. But Bassies, Jack and I think there is a way that AI could play out in completely different, in fact completely opposite way of that job pocalypse scenario. The answer is a takeaway. So Jack, what's the takeaway for all our buddies worried about AI?

[B]

Here's a theory. AI is like corporate Botox. It doesn't cut workers, it enhances them.

[A]

Now yetis, remember last year we talked about that theory that AI is like corporate Ozempic. It cuts size but increases the output of a company.

[B]

Well, what Jack Dorsey just did last week is much more extreme than Ozempic. It's like corporate liposuction or corporate amputation,

[A]

like cutting off a limb. But also last week, Citadel securities suggested something different. That AI as Jack and I would put it, it's more like corporate Botox.

[B]

Last week, Citadel wanted to change the narrative because that Wall street firm doesn't think that AI will eliminate jobs.

[A]

No. They've got three ideas why? First, adoption of AI will be slow. And the slower the adoption, the easier it is for workers to adjust.

[B]

Second, AI will boost entrepreneurship. And it already is. New company formation hit records in 2024 and 2025.

[A]

And finally, they think the government will act if AI booms profits and crushes workers and AI tax will redistribute the cash.

[B]

So instead of a doomsday scenario, Citadel thinks AI will simply boost each worker's productivity a lot like Microsoft office did 20 years ago.

[A]

Besties. Last week all that talk was that AI will eviscerate white collar jobs. But honestly, no one really knows what it's going to do.

[B]

So Citadel has a more optimistic take that we wanted to share with you.

[A]

Or is Jack would put it, maybe AI will be like corporate botox not cutting workers but enhancing them. For our second story, thanks to Coach's handbag sales, its stock has quadrupled since 2024.

[B]

Coach is the only company that can sell handbags to Gen Z. Because they hired an anthropologist.

[A]

They hired an anthropologist. But Basties, before you dive into the story, Jack, can I do a little ootd? A little outfit of the day for you over here?

[B]

Let's do it.

[A]

Okay. Okay.

[B]

So I've got a Kate Spade wallet,

[A]

I'm wearing the Stuart boots and I've got a Coach handbag. What do you think?

[B]

Okay, good for you. But that's not just an outfit, that's an entire company.

[A]

Yeah it is. And I'm not wearing that because Tapestry

[B]

owns all three of those brands. It's a $30 billion luxury giant.

[A]

And besties. This Tapestry stock, the owner of Coach is the Nvidia of New York Fashion Week.

[B]

The stock is up 22% so far this year. It's up 85% in the last 12 months and it's quadrupled since 2024.

[A]

Coach, their stock is at ana wintour highs right now. Highs.

[B]

Now you might think luxury brands cater just to the wealthy few. But get this. Coach alone sold to 3 million new customers last quarter. A record high for the brand.

[A]

Even Tyra Banks would be impressed by that. And the reason is val Luxury. It's luxury brand but focused on a value price.

[B]

For instance, the top selling Coach bag, it's called the Tabby and it's just $350.

[A]

Yeah, they flex the name at 1:10 the cost of the Chanel. But besties, the real reason Coach is crushing it right now. What is it Jack?

[B]

An anthropologist is head of coaches marketing.

[A]

This is what Jack and I find fascinating. Eddies. The Wall Street Journal interviewed the chief marketing officer of Coach, June Silverstein. So Jack and I naturally soft stocked her on LinkedIn.

[B]

And before Harvard Business School she was at Columbia University.

[A]

Her major was anthropology, the scientific study of humans. In fact, June went on to a Fulbright scholarship studying second generation North African women over in France. Yeah, she's hardcore anthro.

[B]

Just like National Geographic analyzes flora and fauna, anthropologists like June analyze us humans.

[A]

Which has led to a unique approach over a coach. Not customer surveys and customer focus groups. What is it Jack?

[B]

Joan Silverstein goes into people's homes and studies our lives.

[A]

That's right. Every quarter June visits the homes of women 18 to 30 years old. The target customer of Coach handbags.

[B]

I assume she's been invited, but she will literally pop into Somebody's apartment, hang out in their closet, look around and then chat at their kitchen table about how they spend their day.

[A]

For example, June noticed that Gen Z likes to express themselves in multiple identities. Like, you know how young people put Jibbitz on their Crocs when they go out wearing them?

[B]

So Coach launched charms for their handbags. Cute little carrots, fun little bows, even miniaturized novels that you can clip to the handle of your handbag.

[A]

What she observed was that the desire to personalize was so deep that consumers would even accessorize an accessory like a handbag. Basically, handbag charms.

[B]

Thought you were gonna say handbag inception.

[A]

Well, either way, Coach Sales are crushing it right now because their chief marketing officer spends afternoons opening up 23 year olds dressers.

[B]

Not creepy. No, it's marketing.

[A]

So Jack, what's the takeaway for our buddies over at Coach?

[B]

To understand the customer act like Jane Goodall.

[A]

Ah, Jane Goodall. Yet he's. She's the late great anthropologist who studied chimpanzees and people.

[B]

She spent her life in the forest of Africa observing primates. She was the to document chimpanzees using tools which made us realize, wow, they're not as different from humans as we thought.

[A]

Well, June took Jane's science into marketing. An ethnographic approach, as the scientists would call it, proving more effective than traditional marketing.

[B]

June realized that brands mistake data for insight.

[A]

Such a good quote. Basically, you can learn something about customers from the data, just like you can learn something about apes by reading zoo books.

[B]

But observing customers reveals insights that they don't even know themselves or can't yet articulate about themselves.

[A]

You learn who they really are, besties, what they really want by opening up the sock drawer and watching their daily routines.

[B]

So you don't need more data. You need more Jane Goodalls.

[A]

Now a quick word from our sponsor, Monarch.

[B]

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[A]

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[B]

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[A]

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[A]

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[C]

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[A]

For our third and final story. With Paramount increasing its bid to buy Warner Bros. Netflix is walking away and we'll explain all the drama through Wedding Crashers.

[B]

We'll also assess the impact on Wall Street, Hollywood and on our American society.

[A]

But also Vince Vaughn and Wedding Crashers. Bestie is the biggest love triangle in Hollywood. It isn't a movie, it's Hollywood itself these days.

[B]

December 8th was the last time that we covered Warner Brothers Discovery, Netflix and Paramount's awkward throuple situation.

[A]

Now back then, Netflix had offered 83 billion bucks to buy Warner Brothers and until last week was presumed to be the winner of the bidding war for the famous Hollywood studio and HBO Max.

[B]

But since then, the corporate M and A drama has played out like Wedding Crashers.

[A]

Now follow us on this one. Here's the cast. Warner Brothers is playing the bride. Netflix is playing the steady fiance. And Jack, who would you say is playing Paramount in this case?

[B]

Oh, he's the rich ex who's constantly DMing the bride, telling her to reconsider and even showing up at the rehearsal personal dinner. Will that make you love me, dad?

[A]

Well, we're not even exaggerating besties. Wait to hear this.

[B]

The CEOs of Netflix and Warner Bros. Did a real photo shoot. Basically the equivalent of engagement pics.

[A]

I think there was a hug. I think there was a hug I saw in there, Jack.

[B]

Which leads to the news. You already know it. After Paramount upped their offer to buy Warner Brothers last week, Netflix decided to walk away. Paramount Is the winner.

[A]

Or in wedding crashers terms, Netflix was at the altar, but then Paramount burst in with a huge ring and the bride just said, yeah, I'll take it.

[B]

Yeah. It might have been the stiff match or the gay new dark show, or maybe the Midnight race.

[A]

Either way, Netflix is single again. But besties before you cry for Netflix. Netflix's loss is actually, in our opinion, a pretty big win for Netflix.

[B]

Get this. In the two and a half months after Netflix bid $83 billion to buy Warner Brothers, Netflix stock fell 31%. Investors very much disapproved of the acquisition.

[A]

Investors disapproved like an angry father in law.

[B]

If anyone believed Netflix and Warner Brothers should, Wall street would have stood up.

[A]

Yeah, because Warner Brothers simply isn't worth anything close to what Netflix was offering to buy it for.

[B]

Or what it's now selling for. Paramount is paying $31 a share for Warner Brothers, a company whose Stock was just 8 bucks before this bidding war began.

[A]

But David Allison, the owner of Paramount, the new Nepo mogul of Hollywood, was willing to pay anything for the power of Warner Bros. Assets. Which we'll get to in the takeaway.

[B]

And get that. Netflix still receives a $2.8 billion breakup fee as part of this deal.

[A]

Not too shabby.

[B]

It's as if Paramount bought Netflix a huge diamond as well.

[A]

And on top of it, Netflix's stock rocking it up 20% in the last week. Since it got left at the altar, that's 70 billion bucks in value.

[B]

So it's not just better for Netflix financially not to buy Warner Brothers, it's better strategically, too.

[A]

You're right, Jack. Because Netflix's top competition is now basically broke.

[B]

Paramount took out a $60 billion loan to beat Netflix and buy Warner Brothers.

[A]

Yeah, they put that big ring on the old credit card.

[B]

And Larry Ellison even had to sell his $45 million San Francisco mansion to pay for his son's new toy.

[A]

True story. Most expensive home sale in San Francisco in the last year.

[B]

And it's not just the money. For the next 12 months, Paramount and Warner Brothers will have to stay in the good graces of the Trump administration to actually get this deal approved.

[A]

I'm sorry, Jack, but that is just not happily ever after for those two.

[B]

That's the worst. Like, like engagement to wedding. 12 months, you can imagine.

[A]

So let me just add it up for you over here, Jack. Netflix lost the bride, but Netflix still gets paid. Its investor buddies in the bridal party are pumped, and its rival just overspent on a ring.

[B]

Basically, Netflix is like, yeah, we're Uncle Ned's kids.

[A]

So, Jack, rule number three. A party crash and never leave a fellow crasher behind. What's the takeaway for our buddies over at Netflix?

[B]

No family has ever had a tighter grip on American media than the Ellisons now do.

[A]

Yetis, Jack and I have mentioned the power of the assets of Warner Brothers before. And we are not just talking about the superheroes.

[B]

Although Superman, Severus, Snape and Succession are very powerful.

[A]

Yes, they are, Jack. What we were talking about right now though is the TV networks. You see, Paramount already owns cbs and now they're getting cnn.

[B]

The Ellisons, longtime Trump super donors, also now own two of the biggest movie studios. And don't forget a huge chunk of TikTok.

[A]

Now, the mainstream media has been perceived to have a liberal bias, but it is now controlled by conservative mega donors.

[B]

This acquisition doesn't just transform Hollywood. It has the potential to transform culture and politics.

[A]

Because besties. The Ellison family now controls an unbelievable amount of American media, which means the

[B]

mainstream media, it's undergone a complete and utter 180.

[A]

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

[B]

Jack Dorsey laid off 4,000 workers in a tweet because of AI. But maybe that's a one off driven by his ego and his lack of mojo.

[A]

Maybe AI is really like Botox. It doesn't replace workers, it enhances them.

[B]

For our second story, Coach sold to 3 million new customers last quarter. A lot of them were Gen z women buying $350 handbags.

[A]

Because Coach's marketing is led by an anthropologist. They got a Jane Goodall.

[B]

And finally, Wedding Crashers. But in real life, yeah, Paramount winning Warner Brothers is a blessing for Netflix financially and strategically.

[A]

And it caps off the Ellison swift and expensive takeover of American media.

[B]

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

[A]

Okay, first, I've been saving the Cha

[B]

Ching bun for this.

[A]

Jack, FedEx just announced they plan to refund customers who paid tariffs.

[B]

When the Supreme Court ruled that Trump's tariffs were illegal, the question of refunds was not answered.

[A]

More than 900 companies have now sued the United States for their tariff refunds.

[B]

A lot of companies passed on those tariffs to consumers. They should pass on the refunds too. And now FedEx puts pressure on everybody to do that.

[A]

Jack and I will be waiting. We can give you our addresses. And second, Warby Parker had a 2020 earnings. It was that good. Their first ever annual net profit. They announced AI Initiatives. And they are tripling the number of eyeglass stores.

[B]

The stock jumped 26% on Friday. The best day in years.

[A]

Yeah, Warby Parker thinks it can use AI to sell more gl, so they're adding three times as many stores.

[B]

And don't forget, Warby was invested in by Google last year. Are AI Google Glasses coming? We think so.

[A]

And finally, besties, We've got to say goodbye to our buddy, Mr. Clean. Everyone's favorite bald dude in a tight white t shirt.

[B]

Mr. Clean was either your nightmare or your fantasy, but he's retiring.

[A]

Kind of like the Quaker Oats dude. The household cleaning brand. Mr. Clean, though they created the character 68 years ago, he's losing his job.

[B]

Not because of it Eye. Just because the brand thinks he's outdated.

[A]

Okay, but Jackson, my bet, we think he's gonna be back in five years. Because every brand always brings back the old mascots eventually, right, Jack?

[B]

When the marketing teams run out of ideas, just bring back the old ideas.

[A]

Now, time for the best fact yet. This one is T Boy Trivia to kick off the week. Now, Yeti's Netflix started as a DVD company, and they mailed their final DVD only three years ago.

[B]

Right?

[A]

But the question is this. What was Netflix's most popular DVD of all time?

[B]

I think I might actually know this one.

[A]

What movie was ordered more than any other in DVD form from Netflix? Jack, what do you think? Okay, before. Before we get away, give me a hint of what you think it is.

[B]

I think when was peak dvd? I think that helps.

[A]

I like your strategy.

[B]

And I'm pretty sure peak DVD was like, the year 2004. 2005, like, right before streaming.

[A]

I didn't know I was podcasting with Sherlock Holmes over here.

[B]

Okay, so peak DVD 2004. 2005. You know, I have three sons under five right now. Okay, talk to me. Which means we like Disney's Pixar.

[A]

I see where you're going.

[B]

And so I'm pretty sure the top selling DVD of all time was Finding Nemo. Oh, so it goes. Logic goes to say it would also be the top rented DVD of all time.

[A]

I may have given you the Sherlock Holmes compliment a little too early. It's not Finding Nemo, but drop your answer in the comments and Jack and I will reveal it on tomorrow. Tomorrow's pod. Yetis, you're looking fantastic to kick off the week. And Jack and I, we want to see you look fantastic in person.

[B]

So snag some tickets to our Washington D.C. or New York show. They're on March 11th and April 8th. We got links in the episode description.

[A]

It's like a rock show of business news. We call it the IPO Tour. It's our in person offering and we're going to ring a bell for it.

[B]

And you might walk home with that bell if you're lucky. Oh, spoiler.

[A]

Jack, we'll see you at tomorrow's pod. If you know, you know. And before we go, a happy birthday to legendary yeti Emmanuel Kwame from Abidjan, Cote d', ivoire, running a 5K on her birthday.

[B]

And happy birthday to Akshat Kishan from Palo Alto, who get this, was one of the live living human being bushes from the Bad Bunny super bowl halftime show.

[A]

Amazing. Oh, you did great, Buddy. And Anna Harrison, enjoy that birthday in Lakewood.

[B]

Colorad Happy birthday to Bernardo Salas in San Antonio.

[A]

Who's listening?

[B]

With his two lovely daughters, Johnny Win

[A]

had the best birthday yet doing logistics in Illinois.

[B]

Happy birthday.

[C]

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[B]

Did it Benny Lopez from Lamont, Illinois, just outside Chicago.

[A]

And Hannah Thornberg has got the golden birthday, turning 28 on the 28th over in Kansas. Happy birthday to Dario and Dearborn Mitchell,

[B]

Michigan, a leap year baby, we'll never forget you.

[A]

Dario and Ted Stoops, congratulations on retiring from the army after 26 years. Thank you for over two decades of service.

[B]

Congratulations on the IBO to Jesse and Megan in Atlanta. They're turning the T boy jingle into a nursery song as they welcome that baby into the world.

[A]

And Miles Canes is fresh out of college but got a new job at an AI startup down in Chattanooga, Tennessee.

[B]

Big shout out to Laura Adams Hoppy from El Dorado Hills, California. She's a hockey player turned oral surgeon who shared that great fact about the 1980s Olympic team getting into dentistry.

[A]

And LJ Eve is an operations manager for the Navy Race Organization and over the weekend, launched the Navy 10 miler in San Diego. Congrats on the big win for the Armed Forces. L.J.

[B]

this is Jack. I own stock of Netflix, Kroc and Disney. Nick owns stock and block.