💃 “Destiny’s Chip” — Nvidia’s Beyonce earnings. Budweiser’s BeatBox acquisition. America’s smaller Zestimate. +Pickle Ball Ban

Summary

The Best One Yet - Episode Summary

Episode Title: “Destiny’s Chip” — Nvidia’s Beyonce earnings. Budweiser’s BeatBox acquisition. America’s smaller Zestimate. +Pickle Ball Ban
Date: November 20, 2025
Hosts: Jack Crivici-Kramer & Nick Martell

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Episode Overview

This fast-paced pop-biz news episode delivers three major business stories shaping markets and culture: Nvidia’s blockbuster earnings (and its “Beyonce” moment), Budweiser’s $700M acquisition of BeatBox (the “Four Loko of wines”) in defiance of beverage trends, and Zillow’s sobering revelation that most American homes are now worth less than last year. Sprinkled throughout are lively banter, listener in-jokes, cultural analogies, and a comedic detour into a national pickleball ban.

The episode is designed to be both informative and energizing, blending data with punchy analogies and memorable quotes to give listeners “takes they can pretend they came up with”—all in about 20 minutes.

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Key Discussion Points

1. Nvidia’s “Destiny’s Chip” Earnings — The Celebrity of Reports

Segment Start: [06:37]

Overview:

Nvidia’s latest quarterly earnings smash expectations, sending shockwaves through both the stock market and the wider tech ecosystem. The hosts dub Nvidia the “Beyonce” of the market—so central that its results dictate the mood for everyone else.

Insights & Numbers:

• Nvidia’s chips underpin the current Artificial Intelligence (AI) boom; every tech “hyperscaler” is buying them: Amazon, Meta, Oracle, OpenAI, Alphabet, Microsoft.
• $62 billion worth of Nvidia chips bought by these companies in the last three months.
• “Nvidia brought in $11 billion of profit every month.” ([08:03], Nick)
• “This chip company brought in 47 times more profits than they brought in the same quarter three years ago.” ([08:04], Jack)
• Nvidia’s revenue growth now exceeds the total revenues of 400 of the Fortune 500 companies. ([08:11], Jack)
  • “You’re going to have to write that down, but it’s wild.” ([08:20], Jack)
• Nvidia now makes up 7% of the S&P 500 and 10% of the Nasdaq 100. ([08:52], Jack & Nick)
• The results trigger a 7% jump in Nvidia’s stock and lift the entire tech sector after hours.

Notable Quotes:

• “If Nvidia fails, everyone fails. So, like, no offense to the rest of Destiny’s Child, but it’s kind of like if Beyonce failed, Destiny’s Child would have failed.” ([09:01], Nick)
• “Nvidia alone makes up 7% of the S&P 510. Percent of the NASDAQ 100.” ([08:52], Jack)
• “The proof that AI is not a bubble is in the repeat purchases. The customers are crazy in love.” ([10:44], Nick)

Analysis:

• AI skepticism centers on whether the tech will deliver ROI; the hosts argue that accelerating, repeat purchases of Nvidia chips by “hyperscalers” prove AI’s boom is real, not a bubble.
• “The bear case on AI is that it’s a huge waste… but the opposite is happening.” ([09:59], Nick)
• Takeaway: “The proof is in the repeat purchases.” ([09:57], Jack)

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2. Budweiser Buys BeatBox — “Boxed Wine Goes Frankenstein”

Segment Start: [11:05]

Overview:

Budweiser (Anheuser-Busch InBev, or B. InBev) is acquiring BeatBox—an ultra-trendy boxed wine favored by Gen Z—for $700M. This play comes despite overall wine and alcohol consumption declining among young buyers.

Insights & Numbers:

• BeatBox is known as “the Four Loko of wines” and first crossed the hosts’ radar as their “2024 Drink of the Summer” pick.
• It “got a $1 million deal years ago from Mark Cuban on Shark Tank.” ([11:48], Jack)
• The product: 11% alcohol, box size equals two wine glasses, cost is only about $2 per glass ([12:13], Jack).
• Sales have quintupled (5x) from 2020–2022, then sextupled (6x) from 2022–2025 ([12:25], Jack).
• BeatBox “looks more like an energy drink,” targeted squarely at venues and buying habits favored by younger consumers (music festivals, gas stations—not restaurants or classic wine shops).

Trends and Positioning:

• BeatBox wins by repositioning wine from an older, sit-down context to something young, portable, affordable, and party-ready.
• It merges trends: sustainability (paper packaging), fitness (low sugar/cal/cals), and festival culture.

Notable Quotes:

• “Kind of looks like a Capri Sun and a Pinot Noir had a baby. And that baby is 21 years old.” ([12:07], Nick)
• “A trend is not necessarily the truth.” ([15:01], Nick)
• “They repositioned wine from competing with liquor to competing with beer.” ([14:43], Nick)

Takeaway:

• Trend data says wine is declining, but the “truth” is about how you position and sell a product. BeatBox succeeds by creating its own category.
• “It’s never really about the product. It’s about how you position it.” ([14:37], Nick)

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3. America’s Shrinking (Z)estimates — A Tale of Two Housing Markets

Segment Start: [16:54]

Overview:

For the first time since 2012, Zillow announces that “53% of American homes are worth less than they did a year ago.” ([17:04], Jack) It’s a major shift in the US real estate market—amounting to a national cooling.

Insights & Data:

• The average home’s value is down 9.57% from its recent peak ([17:04], Nick).
• The market is now divided by region:
  • South & West: Home prices are falling in cities like San Francisco, Austin, Tampa, Denver.
  • Midwest & Northeast: Prices are rising—regional regulations, construction pace, and “NIMBY” policies are driving supply/demand.
• Key reason for the split: construction (south/west) vs. obstruction (northeast/midwest). ([19:22], Nick)
• Housing is becoming a “retirement community”—median homebuyer age is 59 years ([20:06], Jack). First-time buyers’ average age has hit a record 40.

Notable Quotes:

• “America’s housing right now is one big Margaritaville.” ([17:04], Jack)
• “The American housing market: It’s become a retirement community. Looks like margaritas.” ([21:31], Nick)
• “It’s whether your state builds houses or doesn’t build houses.” ([19:14], Jack)

Takeaway:

• More construction = more price moderation; restricted supply = higher prices.
• The aging of homebuyers means fewer young people entering the market, regardless of price swings.

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Bonus Story: Pickleball Bans (Opening Segment)

Segment: [02:08–03:48]

America’s fastest-growing sport, pickleball, faces backlash for its noise—the town of Carmel, CA (and even Nantucket) may permanently ban public play. Tech innovation steps in with a “quieter pickleball” (one-tenth the noise, ten times the price), showing how bans can actually boost a brand’s demand.

Memorable Line:
“Sometimes the best thing to happen to a brand is a ban.” ([03:41], Nick)

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Additional Memorable Quotes & Moments

• “Nvidia just went full Beyonce… It put the whole band on its back.” ([08:44], Nick)
• On BeatBox: “The box is so neon you need to wear sunglasses.” ([13:54], Jack)
• “You zix that link to your boyfriend even though it’s not for you.” ([17:28], Jack, on Zillow obsession)

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Timestamps for Key Segments

• Nvidia Earnings Explainer: [06:37–11:00]
• Budweiser/BeatBox Acquisition: [11:05–15:01]
• Zillow & US Housing Market: [16:54–21:00]
• Pickleball Ban & Brand Lessons: [02:08–03:48]
• Art & Toilet Records, Podcast Rankings: [21:40–22:58]
• Best Fact Yet (Grand Central Terminal): [23:08–23:44]

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Conclusion & Takeaways

• Nvidia’s success is propping up both markets and AI optimism.
  • “The proof that AI is not a bubble is in the repeat purchases.”
• Budweiser’s acquisition of BeatBox underscores that ‘trends ≠ truths’; it’s all about brand positioning.
• Most US homes are worth less than last year, but construction policy, not demand or cooling alone, dictates who wins and loses.
• The housing market is increasingly for the older crowd; young buyers remain mostly priced out.

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This lively episode gives listeners both a zoomed-in and big picture look at business trends—reminding us that great brands, markets, and even sports often grow most when they’re banned, challenged, or reinvented for a new generation.

Transcript

[A]

This is Nick, this is Jack.

[B]

It's Thursday, the new Friday, November 20, and today's pod is the best one yet. This is a T Boy.

[A]

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

[B]

Yetis tomorrow we're dropping our full interview with the CEO of Lyft right here on the pod.

[A]

Next week, right before Thanksgiving, our full interview with Jim Cramer that we just recorded.

[B]

Okay, but in the meantime, if you notice a Lionel model train set behind me, that's because today's show is being recorded from my childhood bedroom in New York City.

[A]

Nick had some major travel issues. It's a miracle you even arrived in the city.

[B]

Oh, it's incredible.

[A]

Hang on a second. Is that a New York Rangers comforter I see in the background?

[B]

Yeah, it's right next to the stuffed bear, the participation trophy. And I got 533 Hot Wheels. Here's the Hot Wheels collection. Just for the record, but, Jack, we still sound fantastic. What are the three stories for today's T boy?

[A]

For our first story, it's Nvidia's earnings report, the earnings report that could determine the future of the stock market.

[B]

It's the celebrity of earnings report. And Nvidia just went full Beyonce. They're channeling Destiny's Child.

[A]

For our second story. Two years ago, Nick and I predicted what drink would be the drink of the summer. We said Beatbox, the four loco of wines.

[B]

But now Beatbox is getting acquired by Budweiser for 700 million bucks, even though Gen Z spits out their wines.

[A]

And our third and final story. Have you checked your home's Zestimate recently?

[B]

I don't want to, Jack, if you have.

[A]

Unfortunately, it's probably down because Zillow just.

[B]

Announced the majority of American homes are worth less this year than they did last year.

[A]

And it's the first time that's happened since 2012.

[B]

And yes, it does involve you sexting.

[A]

But yetis, before we hit that wonderful.

[B]

Mix of stories, Jack, Wonderful mix of stories. Love the mix. For the new Friday, it's Thursday.

[A]

It's Thursday, one week from Thanksgiving.

[B]

Which, Jack, means we're also one week away from the most competitive event of the year.

[A]

Your family's pickleball tournament.

[B]

The old family pickleball games. Mom's got a new paddle, your uncle's got a new knee, and your sister.

[A]

Got an Equinox membership just to prepare for it all.

[B]

Oh, yeah, we're going to hear about trainer all Thanksgiving now.

[A]

Well, here's the America's fastest growing sport is becoming its most banned Sport.

[B]

Because a town in California is voting on a permanent pickleball ban. And they're not the only ones.

[A]

Carmel, California. Lovely little village. I spent the weekend there once. Used to have Clint Eastwood as the mayor.

[B]

It also happens to be the home of a public park of pickleball.

[A]

But while the number of pickleball players has tripled in the last three years, so has the amount of pickleball noise.

[B]

Jack, I'm going to sprinkle on some context. The pickleball decibel level. It's near one on the noise scale.

[A]

That means pickleball pops are louder than a vacuum. Not quite as loud as a hair dryer. So Carmel is about to ban the entire sport, declaring it a public nuisance.

[B]

Okay, but it ain't just them, Jack. Nantucket may outlaw your Aunt Deb's favorite recreation island wide next year.

[A]

Popped collars. Not pickleballs.

[B]

Pickleballs. They're gonna need to hire a lobbyist one of these days.

[A]

Sorry, we gotta say this. It's putting pickleball into a pickle.

[B]

But Jack, there is one sneaky solution for that pickleball pickle.

[A]

If only there could be a quieter pickle.

[B]

Well, get this. Inventors have now engineered a pickleball ball that is one tenth the pop. And it's a real thing.

[A]

Glad our smartest minds are fixing the world's biggest problem.

[B]

Now, Jack. They are profiteers over here. Because it's 10 times the price for this new pickleball. But one tenth the noise.

[A]

Same pickleball, less pickle pop.

[B]

So besties, add it all up. And Uber, they once got banned.

[A]

Red Bull once got banned.

[B]

But when Red Bull got banned, demand actually went up.

[A]

And Uber's worth $100 billion these days.

[B]

Because somet the best thing to happen to a brand is a ban.

[A]

Tattoos, skateboards and pickleball.

[B]

Hey, dad. Get out of the kitchen, 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 to cause a cultural storm. It's the best one yet. But the best is the norm, Jack. Nick, that's it. I don't even think they need to practice. 50%. That's a fat tip. T boy city on your at Liz if you know, you know. Cause we read to go we can't wait no more so just start the show. Start the show.

[B]

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

[A]

This show is brought to you by BetterHelp Yeties.

[B]

You know what time of year it is? It ain't Engagement season. It's postponement season.

[A]

Not like postponing your wedding. We're just talking about postponing a social event.

[B]

Yeah, like days getting shorter, air is getting colder, you're taking a rain check.

[A]

Winter is coming. It's the time of the year that people start to get discontinued from friends.

[B]

Okay, but then when you do finally meet up with your buddy Timmy and your friends, it's exactly what you needed. And you think, why didn't I do this sooner?

[A]

And for us, that's what starting therapy was like.

[B]

That's right. Jack and I are in way better control of our feelings. We know ourselves much better today than we did five years ago in our pre therapy era.

[A]

Well over 5 million people worldwide have chosen BetterHelp to start therapy with over 30,000 therapists on that single platform.

[B]

Jack, you can't postpone those numbers this month.

[A]

Don't wait to reach out. Whether you're checking in on a friend or reaching out to a therapist yourself, BetterHelp makes it easier to take that first step.

[B]

And our listeners, you. You get 10% off your first [e-mail] tboy that's betterhelp.

[A]

H E L P.com t Boy, I recently got a booking request from somebody who said, I'm a 75 year old professor from Michigan. Me and my academic pals are having a ski trip. I love your place. Lovely.

[B]

So what'd you say back? You write back to the guy.

[A]

I responded that I went to the University of Michigan for two graduate degrees. Nick. It turns out he did too. In fact, we worked in the same econ department when I was a TA there.

[B]

It's a match made in platform history.

[A]

Man, this guy hasn't arrived yet. But I love these personal connections I've made as a host on Airbnb.

[B]

And Besties. We've told you that your place is probably perfect for someone else to stay at as well.

[A]

We haven't told you about the wonderful human interactions you can have as an Airbnb host like mine with this 75 year old PhD who loves the Michigan Wolverines as much as I do.

[B]

Yeah, it just feels good knowing that while you're making money, someone else is enjoying your place too. And you got a connection.

[A]

Hosting on Airbnb can provide you with another income stream and another source of life satisfaction, whether you're a Wolverine or a Buckeye.

[B]

Besties. No joke. Jack's very satisfied.

[A]

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

[B]

For our first story. It is the celebrity of earnings reports. Nvidia. The vibes of this entire stock market and the economy depend on this company.

[A]

Well, well, the man in the black leather jacket delivered.

[B]

And we'll explain the numbers with the best analogy we could find. But Jack, if we're really going to tell the story of Nvidia's earnings, can we start with some poetry? And I believe you wrote a poem about Nvidia like a month ago.

[A]

Man, Nvidia. I'm not kidding you. You're powering our economy's heart. That's the opening line of my publicly traded poem to Nvidia.

[B]

Yeah, Nobel Laureate Jack, the podcast co host over here. Well, the companies that buy Nvidia's chips to process their AI are known as hyperscaler.

[A]

Amazon, Meta, Oracle, OpenAI, Alphabet, Microsoft. Those are the hyperscalers. And they bought $62 billion worth of Nvidia chips in just the last three months.

[B]

That was the highlight number of the earnings report.

[A]

And Nvidia's forecast for this fourth quarter that we're already in was way higher than Wall street expected.

[B]

Oh, it got crazy. Jack, why don't you dive in t boy style for us?

[A]

Jensen Huang said this to open the report yesterday. Blackwells are selling like crazy and cloud GPUs are sold out.

[B]

Sorry, Jack, can you give us a tech translation on that?

[A]

Qu? Please? We're going to jack up the price of our chips even higher because the industry can't buy enough of them.

[B]

Besties. Get this. Nvidia brought in $11 billion of profit every month.

[A]

Last quarter, this chip company brought in 47 times more profits than they brought in the same quarter three years ago.

[B]

Okay, still not satisfied. Nvidia's revenue growth is now more than the total revenue for 400 of the Fortune 500 companies.

[A]

You're going to have to like, write that down, but it's wild. Nvidia's reven growth is more than the total revenues of 400 of the Fortune 500 companies.

[B]

Jack, I can't escalate the octaves in my voice any higher about this report and Bessie's. Here's the key. It's not just about Nvidia. That's what we find fascinating.

[A]

Nvidia's earnings reports are about the entire stock market and indeed the whole US economy.

[B]

And the way Jack and I see it after reading this whole report is that Nvidia just went full Beyonce on both. It put the whole band on its back.

[A]

Because yetis Nvidia alone makes up 7% of the S&P, 510. Percent of the NASDAQ 100.

[B]

Not too shabby.

[A]

If Nvidia fails, everyone fails.

[B]

So, like, no offense to the rest of Destiny's Child, but it's kind of like if Beyonce failed, Destiny's Child would have failed.

[A]

Yeah, if Beyonce calls in sick, you should probably cancel the whole concert.

[B]

Just reschedule the recording.

[A]

But, Nick, Nvidia is not just the stock market. It's the number one ingredient for all of our economic growth, AKA the data centers.

[B]

Right. We're adding all these data centers, and they're all being powered with Nvidia chips.

[A]

So these results were great for Nvidia. The stock rose 7% Wednesday as of the time that we're recording the show.

[B]

But, Jack, I gotta ask. Were those results good for the rest of the stock market and the rest of the economy?

[A]

Well, stocks of every tech company we're looking up right now after hours are up, thanks to Nvidia's report, which to.

[B]

Us means that Wall street sees these earnings as proof of AI being a boom, not a bubble.

[A]

Because of that black leather jacket. Just kidding.

[B]

Because of our takeaway, Jack. What's the takeaway? For our buddies over at Nvidia, the.

[A]

Proof is in the repeat purchases.

[B]

The Eddies. The bear case on AI is that it's a huge waste. Now, companies that are splurging on it won't get a return.

[A]

All those data centers were like Brazil's World cup stadiums. Not a smart use of money.

[B]

But, basties, we are three years into this trend. Now, if AI hyperscalers were seeing that, you'd see it in reduced orders of Nvidia chips.

[A]

But the opposite is happening. True, Nvidia's sales growth actually accelerated from the quarter before, from 56% growth last quarter to 64% growth this quarter.

[B]

So are companies getting the ROI they need to call this AI situation not a bust, but a boom?

[A]

Well, the fact that hyperscalers are increasing their orders to Nvidia each quarter suggests, yes, they are getting the ROI they're looking for besties.

[B]

The proof that AI Is not a bubble is in the repeat purchases. The customers are crazy in love. For our second story, Budweiser is about to drop 700 million bucks for a Gen Z boxed wine called Beatbox.

[A]

We'll tell you why young people love a wine brand, even though young people don't drink wine.

[B]

All right, Jack, if we're going to cover this story, can I start with a quote from Dos Equis?

[A]

Something about an interesting Man.

[B]

Yeah, Yetis. Jack and I don't always make predictions, but when we do, we put a lot of time into them.

[A]

And an annual T boy tradition for the last five years is predicting the drink of the summer.

[B]

Yeah, frose. Canned frose. We predicted them all.

[A]

Did I say five years? I think we've been doing this seven years because 2018 was the summer of the spike seltzer.

[B]

2021 was the summer of the ready to drink canned cocktail.

[A]

Then there was Non Alcoh, and then there was low alcoholic drinks.

[B]

And in 2024, Jack and I predicted Beatbox, the wine of the summer.

[A]

It's a boxed wine brand. You might know them from Shark Tank. They got a $1 million deal years ago from Mark Cuban on Shark Tank.

[B]

Or you may know it from aisle six at the grocery store where it's got 11% alcohol but a 4% price tag.

[A]

Or you may know it because you've pounded a box of one of them. It's like the Four Loko of Napa.

[B]

Kind of looks like a Capri sun and a Pinot Noir. Had a baby. And that baby is 21 years old.

[A]

No, it is an affordable alcohol because One box is 17 ounces. So it's the equivalent of two glasses of wine sold for two bucks per glass.

[B]

But besties, the financials of this company, they look more like an energy drink.

[A]

Sales 5 xed from 2020 to 2022, and then they 6 xed from 2022 to 2025.

[B]

And here's the news. The Wall Street Journal is reporting that Anheuser Bush is going to acquire beatbox for 700 million bucks because Gen Z doesn't drink alcohol.

[A]

Except, apparently, this alcohol.

[B]

Yeah, because Gen Z has ditched Bud Light for boxes of party sangrias.

[A]

So congrats to the Beatbox team. But we gotta ask, what got Beatbox a Shark Tank deal, A T. Boys summer drink of the year prediction, and now an exit to a B. InBev. Yeah, he's.

[B]

Jack and I were dying to know. So, based on our analysis, Beatbox's real insight wasn't that it canned wine, it's that it canned the trends.

[A]

It was a Frankenstein strategy. This brand managed to merge multiple trends and bottle them into one product.

[B]

For example, Gen Z cares about sustainability. Boom. Make the package out of paper, not plastic.

[A]

Millennials are going to record number of live concerts.

[B]

Boom.

[A]

Launch every new flavor at a music festival.

[B]

Jack, everyone under 40 is into fitness. I'm gonna say boom. Drop the calorie count to 120 bucks. A can and keep the sugar under 8 grams.

[A]

And in this economy, put the price tag at just four bucks a box.

[B]

That is less than a Jamba Juice smoothie these days.

[A]

So beatbox went full Dr. Frankenstein, Mary Shelley on vino and re engineered it for a post pandemic 22 year old.

[B]

Now, we should point out, Jack, wine snobs, they kind of hate that this is technically a wine.

[A]

The box is so neon you need to wear sunglasses.

[B]

That's a warning. But wait, Jack, pause the pot for a second. Are you thinking what I'm thinking?

[A]

Isn't like wine like out these days?

[B]

Yeah, that's what we thought.

[A]

So why is Budweiser buying a wine brand?

[B]

You know what? Let's hit the takeaway. Jack, what's the takeaway? For our buddies over at Beatbox, a.

[A]

Trend is not the truth.

[B]

Yetis. Like Jack just said, this doesn't make sense. Wine, I mean, based on all the data we've seen and told you about, it shouldn't sell.

[A]

We've told you that Gen Z doesn't drink much. We've told you that alcohol consumption overall is at a record low among Americans, and that wine is the alcohol getting hit the hardest.

[B]

And yet here we are also telling you about a viral wine brand selling for 700.

[A]

How is that possible? Well, what Beatbox proves is that it's never really about the product. It's about how you position it.

[B]

Exactly. They repositioned wine from competing with liquor to competing with beer.

[A]

Instead of restaurants, they sold at concerts. Instead of wine stores, they sold at gas stations.

[B]

Now, yes, the bigger trend here is that wine sales are declining.

[A]

But a trend is not necessarily the truth.

[B]

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[B]

Now, Jack, my mom does not use most of the products we promote. She's not building a website. She's not downloading a stock trading app.

[A]

No, she's not.

[B]

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[A]

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[B]

For our third and final story. The majority of American homes are worth less right now than last year. They're down 9.57% on average from their peak.

[A]

Because America's housing right now is one big Margaritaville.

[B]

Oh, it's one huge Margaritaville. But Yetis, if you're on TikTok, then you know TikTok has a for you page, but Zillow has a not for you page.

[A]

You know what I mean?

[B]

You know getting out of that Jack.

[A]

These houses you definitely cannot afford.

[B]

Six bedroom beachside with the guest house, radiant heat and a Florida ceiling fireplace.

[A]

You zix that link to your boyfriend even though it's not for you.

[B]

But funny thing, Yetis in that Zillow text, that zext you send your boyfriend, you're going to see see a zestimate of that home. And what's that Jack?

[A]

Which is Zillow's estimate of that home's value.

[B]

Basically Zillow's algorithm looks at the size, location and recent transactions nearby and then whips up a new price that's not for you.

[A]

Although they do it for all homes. So like the house you're living in that has his estimate, too.

[B]

Okay, but here's the shocking news. Zillow just announced that 53% of America's homes are worth less than they did a year ago.

[A]

Still, two thirds of homes are worth more than when their homeowners bought them.

[B]

And only 4 of sellers are actually selling for losses right now.

[A]

Remember, this is just his estimate. But still, over half of American homes lost value in the last 12 months.

[B]

I wish I had a sauna right now. Jack. Okay, but bigger story here. Jack and I want to talk about. And what is that, Jack?

[A]

America's a tale of two real estate markets.

[B]

Ah, yes.

[A]

Ones with construction and ones with obstruction.

[B]

Let's whip out the map.

[A]

You see besties.

[B]

If you live in the south or the west of America, then prices are falling in every metropolitan area.

[A]

San Francisco.

[B]

Awesome.

[A]

Boston, Tampa, Denver. At least 83% of homes in those four cities are down in the last year.

[B]

But on the other hand, if you live in the Midwest or Northeast, then prices are still rising in metropolitan areas.

[A]

New York, Chicago, Boston. It's the opposite. 80% of homes have gained value in the last year.

[B]

So, Jack, pause the MapQuest for a second here. Why the regional difference in these home prices?

[A]

Well, it has nothing to do with the weather, the quality of living, the sports, the jobs market, or how the city pronounces the word pecan.

[B]

It's pecan. For the record, the reason why half.

[A]

The country has falling real estate prices and half has rising real estate prices. It's whether the state you're in builds houses or doesn't build houses.

[B]

That's right. The south and the west are living like it's the 1800s frontier out there.

[A]

Yeah, they're building homes nonstop to welcome newcomers in the millions.

[B]

On the other hand, Northeast and the Midwest, they are NIMBY states, not in my backyard.

[A]

Red tape and high costs mean a constant housing shortage in all of New England and all of the Midwest, and voila.

[B]

It's a housing construction versus a housing obstruction.

[A]

And you see the difference in the ZEXT messages.

[B]

Actually, a massaging sauna is really nice, Jack. So, Jack, what's the takeaway for our buddies over in the housing market?

[A]

The bigger picture is that the housing market is a retirement community right now.

[B]

Yetis the people actually buying homes in this market, they're older than at any other time in American history.

[A]

The national association of Realtors just reported a record high age of the Median home buyer 59 years old.

[B]

59.

[A]

That is the same age that you can begin withdrawing from your retirement fund.

[B]

And wildly that same report also showed a record high age for first time home buyers. 40 years old.

[A]

It's not young couples excited to start a family and buying their starter home. It's old people.

[B]

We just call 40 year olds old people, Jack. So to the Gen Xers out there, no offense, no offense, but whether prices are up or down, it depends on whether you're in a building state or not.

[A]

But they're expensive everywhere that goes. Without dispute, our country simply needs more homes.

[B]

And until we can make building more houses a national priority, the housing market will remain looking like a Margaritaville for.

[A]

People 59 and over only.

[B]

Jack, could you whip up the takeaways for us for the new Friday, Nvidia's.

[A]

Earnings delivered not just for shareholders, for the whole stock market, it went full Beyonce.

[B]

And for now, the proof that AI is not a bust is in the repeat purchases.

[A]

For our second story, Beatbox was this podcast 2024 drink of the summer. And now it's reportedly getting bought by Budweiser.

[B]

Because Beatbox is proof that trends don't equal the truth.

[A]

And our third and final story. The majority of American homes have smaller zestimates right now than last year. But it's also a tale of two markets.

[B]

The American housing market. It's become a retirement community. Looks like margaritas, but besties.

[A]

This pod's not over yet. Here's what else you need to know today.

[B]

First, curious about the unemployment rate for October 2025 last month. Well, we're never going to know because of the government shutdown.

[A]

The Bureau of Labor Statistics announced yesterday they're canceling the jobs report for October.

[B]

The reason? The unemployment rate is based on a survey and the people who ask you if you are employed or not. They were furloughed during the shutdown.

[A]

BLS will release the November jobs report two weeks late on December 16th.

[B]

And second, we've got two record setting pieces of art. One of them is tasteful art, the other one is a toilet.

[A]

A Van Klimt painting became the most expensive modern painting ever, selling for $236 million.

[B]

On the same day, a golden toilet was also sold at a Sotheby's auction for $12.1 million. The highest price ever paid for a toilet.

[A]

By the way, that toilet was produced by the same artist who duct taped a banana to the wall.

[B]

Yeah, it was the same dude. It was the same dude. And finally, we just got the official Apple podcast rankings and there is a new number one at the top of the charts.

[A]

The New York Times Daily has been USURPED by the Joe Rogan Experience.

[B]

Joe Rogan has jumped to number one above the Daily Mel Robbins is number three, and Crime Junkie is number four.

[A]

Most interesting to us, the most shared podcast bible in a year, the Ezra Klein podcast and the Humorman podcast.

[B]

But T boy still coming for that number one spot. Now time for the best fact yet. This one. A correction sent in by Claydon Schmidt from lovely Oceanside, New York.

[A]

The correction is it's Grand Central Terminal, not Grand Central Station.

[B]

Here's the distinction. A terminal is the term for a train station where the train lines end, as is the case at Grand Central Terminal in New York City.

[A]

When Metro north trains come into Grand Central, when they leave, they go back out the same direction that they came.

[B]

Grand Central Station is the nickname people use, even though it's technically not correct.

[A]

Although in our defense, Grand Central is a subway station and the subway doesn't terminate there. It passes right through.

[B]

And we were talking about the subway station.

[A]

But still, I respect the correction because it's an important distinction.

[B]

Clayton. Been working on the railroad all the livelong day, Jack. And we appreciate the correction. Yetis, you look fantastic out there. Remember, Jack and I got a surprise coming for you tomorrow. And Jack, what is it?

[A]

Our full interview with the CEO of Lyft, David Risher.

[B]

That's right. We did the interview like last week. But you know, like any Lyft ride, it'll arrived a few days late. So you're gonna enjoy that episode. And we're interviewing Jim Cramer. We'll share that one with you next week before the holidays.

[A]

Big stuff happening at the best one yet.

[B]

If you know, you know. And before we go, a happy birthday to yeti Luke Baker from Skinny Atlas, New York, who liked K Pop Demon Hunters before it was cool.

[A]

And happy birthday to Zen. Yup. In Singapore, an aspiring yoga teacher.

[B]

And Bethany usquino is turning 25 years old down in Orlando, Florida. Happy birthday, Bethany.

[A]

Happy birthday to Karen Tsai in Overland Park, Kansas, who's having caviar for breakfast.

[B]

And Aranza and Aneel down in Houston, Texas, just got engaged. They've been listening since. Snacks, guys. Send us the ring pics. We can't wait to see it. Congrats.

[A]

And happy birthday to John David hull, who's turning 45 and Class Clifton, Texas.

[B]

And Anna Pags has got a 15th birthday on the Jersey Shore. Hope it's a 6 7. More on that next week.

[A]

And happy birthday to Mara Ley, turning 30 in Carlsbad, California. The best boss yet.

[B]

And Kaya Nelson is celebrating the best birthday yet in Spanish Fork, Utah.

[A]

And happy 30th birthday to Terry Grant from Long Island, New York. And to anyone else celebrating something today. Make it a T boy.

[B]

Celebrate the wins.

[A]

This is Jack, Nick own stock of Zillow and we both own ETFs at the S&P 500. Wow, you were able to just chat AI quicker than I was. I googled.

[B]

Oh hey Nick, great question about pickleball. Can't wait till your family plays this weekend. One sec while I find it out. Yes, you're 100% right. It is closet. I said kitchen. You're right, you did say kitchen.

[A]

This pod is not brought to you by ChatGPT. If you like the best one yet, you can listen ad free right now by joining Wondery plus and the Wondery app or on Apple Podcasts.

[B]

Prime members can listen ad free on Amazon Music.

[A]

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

[B]

We want to get to know you.