🍦 “Fo-Sho” — 16 Handles’ return. Paramount’s hostile takeover. Sephora’s football strategy. +Bieber’s iPhone diss.

Summary

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The Best One Yet — December 9, 2025

Episode Theme:
A lively, insight-packed breakdown of the day’s top three business stories: Paramount’s shocking hostile takeover bid for Warner Brothers, Sephora’s playbook for blockbuster sales, and 16 Handles’ froyo-fueled comeback—plus a side of Bieber’s iPhone grievances.

Episode Overview

Hosts Nick Martell and Jack Crivici-Kramer bring their signature T Boy energy (and banter!) to the stories reshaping pop business culture. Today, they serve up:

• Drama in the streaming wars as Paramount outbids Netflix for Warner Bros.
• Sephora’s all-time-high sales, driven by a relentless retail “game of inches” mentality.
• The froyo revival, starring 16 Handles’ reinvention.
• A viral Justin Bieber iPhone “diss” causing ripples at Apple.

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1. Bieber’s iPhone Diss: Apple’s PR Meltdown

Segment Start: [01:09]

Key Points

• Amidst Apple’s soaring stock, top execs (chief lawyer, chief designer) are leaving and Apple’s AI is “MIA.”
• Justin Bieber publicly roasted Apple on social for the “dictation button” placement in iMessage, stirring strong reactions and humor.
• Bieber joked/threatened:

  “If I hit this dictation button after sending a text and it beeps and stops my music one more time, I'm gonna find everyone at Apple and put them in a rear naked chokehold.” — Bieber ([02:07])

• Hosts riff with Bieber-inspired song references:

  “We have never seen Bieber more bitter, baby.” — Jack ([02:25])
  “Hey, Steve Jobs, where are you now that I need you?” — Jack ([02:28])

Impact:
Bieber’s unscripted rant was partly blamed for a 1% Apple stock dip.

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2. Paramount’s Hostile Takeover of Warner Brothers

Segment Start: [05:02]

Discussion Breakdown

• Backdrop:

  • Friday: Netflix announces plans to buy Warner Brothers for $27.75/share.
  • Monday: Paramount counters with a $30/share “hostile” bid, bypassing Warner Bros’ board and pitching directly to shareholders.

• Hostile Explained:

  “Paramount’s offer bypasses Warner Brothers board of directors... and that is the definition of a hostile takeover.” — Nick ([06:11])

• Deal Drama:
  Paramount, backed by Larry Ellison and Trump-associated sovereign wealth funds (Saudi Arabia, Abu Dhabi, Qatar), and even Jared Kushner’s private equity, is betting on regulatory approval, arguing political connections grease the wheels.

• Business Chess:

  • Warner Bros. CEO David Zaslav previously spurned lower Paramount offers, driving the price up from $8/share (April) to $30/share now.

• The Real Winner:

  “Whoever wins, David Zaslav wins. The failed CEO who is now winning Yetis.” — Jack ([08:14])
  “30 bucks a share for something that six months ago cost 8 bucks a share?” — Nick ([09:12])
  “Warner Brothers Discovery was much more valuable as a pawn in the streaming wars than as a standalone media company.” — Jack ([09:22])

Memorable Moment:

• “Add it all up and it feels like we are in the middle of the Warner Brothers Bachelorette. Episode two is already meatier and spicier than episode one.” — Nick ([06:41])

Takeaway:

• The streaming war’s winner (Netflix or Paramount) will make Warner Bros’ CEO Zaslav a billionaire either way.

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3. Sephora’s Surging Success: The “Game of Inches”

Segment Start: [09:39]

Key Insights

• Performance: All-time high sales ($18.5Bn, more than Dick’s Sporting Goods), enormous profitability, more store traffic than the Eiffel Tower.
• Competitive Landscape: Despite pressure from Ulta, Amazon, and TikTok-shop sellers, Sephora’s 3400 stores are thriving.
• Secrets to Success:
  • Exclusives: “Half the brands at Sephora, you can only buy at Sephora—like they sign makeup brands like teams sign athletes.” ([11:28])
  • Economic Resilience: Lipstick index—consumers “splurge on lipstick” whether the economy’s up or down.
  • Relentless Retail Approach:

    “Every square inch must be productive. Every inch is like a little jewel.” — Sephora CMO, quoted by Nick ([12:50]) “Like football, retail is a relentless game of inches. And Sephora has become a hall of famer.” — Jack ([13:17])

Memorable Moments:

• “You walk in for a $12 lip balm, you walk out with a new 12 step beauty identity.” — Nick ([10:04])
• Hosts connect lipstick to linebackers for a playful “football” analogy.

Takeaway:

Every square inch in Sephora stores is monetized—location, display, and impulse—all maximized for retail victory.

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4. Frozen Yogurt’s Comeback: 16 Handles Leads the Way

Segment Start: [15:38]

Key Discussion Points

• History & Nostalgia:
  Each generation has its frozen treat: Boomers (Mr. Softee), Gen X (Tasti D-Lite), Millennials (Pinkberry & 16 Handles).
• Industry Crash:
  • Froyo market down 28% since 2017; stores down 35%.
  • Pandemic “killed” self-serve model out of hygiene panic.
• Comeback Kid:
  • Noah Cuny Lichtman, at 23, takes a $500,000 SBA loan to buy/revive 16 Handles, betting the real problem was oversupply and not demand.
  • Lichtman’s innovations:
    • High-protein flavors for fitness trends.
    • Nightlife vibes after 8pm—“zero proof nightlife.”
    • Franchising to students and young entrepreneurs.
  • “Noah sold the 16 Handles franchise to an MBA student at Columbia to open a location on the Upper West Side that's doing very well.” — Nick ([18:57])

Takeaway:

• The real risk to Froyo wasn’t demand, but becoming “a victim of its own success”—too many stores, not enough differentiation.
• The smart lesson: Don’t repeat oversupply; curate growth.

Quotes:

“It wasn’t a demand deficit, it was a supply surplus.” — Jack ([20:22])

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5. Quick Hits: What Else You Need to Know

[21:28]

• SpaceX IPO could reach $1 trillion valuation—the biggest ever.
• China’s Trade Surplus surpasses $1 trillion, the greatest in history.
• Sweetgreen’s $10 bowl: First “value meal” as sales lag.

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6. Best Fact Yet

[22:50]

• The color red stimulates hunger—which is why most fast food and food apps use red in their branding.

  “It’s red! Like...McDonald’s, KFC, Burger King, Wendy’s, In-N-Out, Panda Express, Chipotle, Pizza Hut. Jack, Red Lobster. It’s called Red Lobster, man.” — Nick ([23:14])

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T Boy Takeaways Recap

[20:40]

• Paramount’s hostile bid: Warner Bros.' CEO Zaslav gets rich—Netflix or not.
• Sephora: Success through relentless, inch-by-inch store optimization.
• 16 Handles: Froyo failed by oversaturating, not from lack of demand—the comeback is smarter supply.

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Notable Quotes

• “Warner Brothers Discovery was much more valuable as a pawn in the streaming wars than as a standalone media company.” — Jack ([09:22])
• “Every square inch must be productive. Every inch is like a little jewel.” — Sephora CMO via Nick ([12:50])
• “It wasn’t a demand deficit, it was a supply surplus.” — Jack ([20:22])

---

The Best One Yet delivers sharp pop-business news, colorful analogies, and quotable banter—streamlining everything you need for your next water-cooler conversation.

Transcript

[A]

This is Nick, this is Jack. It's Tuesday, T Boy Tuesday, December 9th. 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]

I mean, Jack, the mix is so good. What do you say we get right to it today, man.

[B]

For our first story, the Empire Strikes Back. Dun dun, dun. Paramount has upped the ante to acquire Warner Brothers.

[A]

Yesterday we told you Netflix was buying Warner Brothers. But today, Paramount is attempting a hostile takeover.

[B]

For our second story, Sephora's makeup sales are are at an all time high right now thanks to the same strategy that works in football.

[A]

And it's the only strategy that works if you're trying to sell something.

[B]

And our third and final story, Pinkberry TCBY 16 handles. Delicious. Nick, you notice more froyo chains popping up around you?

[A]

I kind of want to lick the podcast right now.

[B]

Oh, boy. We'll explain why frozen yogurt is the hottest food of this winter. And it's not just nostalgia. Don't make a lick sound right now.

[A]

I was going so close, but yetis.

[B]

Before we hit that wonderful mix of stories.

[A]

Fantastic mix of stories. Love the mix of stories for T boy Tuesday, Jack.

[B]

They've got some awkward times going on over at Apple.

[A]

Yeah, you see, Apple stock is at an all time high, but everybody is leaving.

[B]

Last week, Apple's chief lawyer announced they're.

[A]

Retiring and their chief designer said he's ditching for meta.

[B]

And Apple's AI business is still mia.

[A]

But the worst business story for Apple of the year so far is Justin Bieber.

[B]

The Canadian singer songwriter Justin Bieber just dropped a diss track on Apple.

[A]

All right, Jack, pause the pod.

[B]

You got us.

[A]

Bring on some context for us, please.

[B]

Over the weekend, Bieber complained on social media of his most hated iPhone feature, that little dictation button.

[A]

Ah, the dictation button. In imessage. Why is the talk to text button right next to the send button?

[B]

No, it's on top of the send button. If you first push talk to text, it becomes the send button.

[A]

And so apparently every time Bieber goes to send a text message, he accidentally.

[B]

Records himself in a very unscripted moment.

[A]

So as he posted on Instagram and X yesterday, Jack, if I hit this.

[B]

Dictation button after sending a text and it beeps and stops my music one.

[A]

More time, I'm gonna find everyone at Apple and put them in a rear naked chokehold.

[B]

Translation, if Apple doesn't issue a software fix, Bieber's gonna start wrestling them it.

[A]

Sounds like he's gonna spank them. I don't know what a naked chokehold is, Jack.

[B]

Me either. But why did Apple stock fall 1% yesterday, Nick?

[A]

Well, Jack, blame it on the Bieber bash. We have never seen Bieber more bitter, baby.

[B]

So to quote Bieber himself, hey, Steve Jobs, where are you now that I need you?

[A]

Jack. It reminds me of that Bieber song, Beauty and an apple beat.

[B]

He was like, baby, baby, baby, oh baby, baby, baby o.

[A]

Baby, baby, baby o. I thought you'd always fix your unit interface.

[B]

Jack.

[A]

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.

[A]

Show.

[C]

Start the show, start the show.

[A]

First a quick word from our sponsor.

[B]

Now a quick break. Switching topics to one of our favorite sponsors, Vital Proteins Yeties.

[A]

One of the three T Boy team goals next year is to grow huge on YouTube.

[B]

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[A]

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[A]

The first website we ever built. Our MySpace page. Yeah, we were just young enough, right Jack?

[B]

Or old enough, Nick. I still remember. You could give your MySpace page a soundtrack. Music started playing when someone visited the webpage.

[A]

Blink 182, the official music of young Jack. But Besties, if we built a website today, we'd use Framer because they focused on the small things.

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[A]

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For our first story. In a dramatic escalation to yesterday's Netflix story, Paramount is now attempting a hostile takeover of the Warner Brothers.

[B]

The empire strikes back, Nick.

[A]

Dun dun dun.

[B]

And that empire is funded by Trump's closest friends, Yetis.

[A]

This is page six News meets the Wall Street Journal. Just yesterday morning, the bombshell report was that Netflix was eating Hollywood.

[B]

But immediately after Netflix announced they were acquiring Warner Brothers on Friday, Paramount's investment bankers and lawyers must have pulled three.

[A]

Straight all nighters, because on Monday morning, Paramount announced a 108 billion DOL hostile takeover attempt of Hollywood.

[B]

Netflix offered $27.75 per share to acquire.

[A]

Warner Brothers, but now Paramount is offering $30 per share to buy the same company.

[B]

But Nick, you used the word hostile earlier and we want to point out hostile is a real finance term.

[A]

Yeah, Jack, why don't we sprinkle on some context over there, please?

[B]

Paramount's offer bypasses Warner Brothers board of directors, which voted on Friday to sell the company to Netflix.

[A]

Instead, Paramount is aggressively going to Warner Brothers shareholders to vote on which deal is better. And that is the definition of a hostile takeover.

[B]

The result is an epic vote for shareholders of Warner Brothers. By January 8th, they have to decide do we want to sell to Netflix or do we want to sell to Paramount?

[A]

Yes. Which one are you going to give your rose to?

[B]

Now, Paramount's pitch is not only are we offering more money than Netflix, but we're also more likely to be approved by regulators.

[A]

But add all up and it feels like we are in the middle of the of Warner Brothers. Bachelorette episode two is already meatier and spicier than episode one, Jack.

[B]

But Yetis, here's what we find most fascinating about this story. Why would Paramount get approved by regulators?

[A]

Why? Jack?

[B]

Because all of the buyers have done sleepovers at Mar a Lago.

[A]

Yeah. Let's kick it off with our buddy Larry Ellison. Second richest man in the world. He actually bought Paramount for his son as a gift. Must be nice.

[B]

And the Ellisons have been saying for months that they're the only ones President Trump would allow to buy Warner Brothers Discovery.

[A]

And interestingly, it's not just because Ellison is a Trump super donor.

[B]

Right, Jack? It's also because he's tapping President Trump's inner circle to help pay for this huge deal.

[A]

All right, let's look at the tab. Three Trump allied sovereign wealth funds from the Middle east are gonna write checks because they are part of the Paramount ownership group.

[B]

Saudi Arabia, Abu Dhabi and Qatar. President Trump has visited each of his allied countries this summer, and they're all going to be buying Paramount.

[A]

Plus, Jack, you've got Affinity Partners, the private equity firm run by Jared Kushner.

[B]

The president's son in law.

[A]

There you go.

[B]

He's funding Paramount too.

[A]

Add it all up. And that's why they think regulators will be on board.

[B]

So how can Paramount, worth $15 billion, afford to outspend Netflix, which is worth $400 billion?

[A]

Well, by opening up a splitwise account that includes everyone the president sent Christmas cards to.

[B]

Or did he open an Evite account?

[A]

It may have been a Venmo account. Either way, though, Jack, if you know, you know. So, Jack, what's the takeaway for our buddies over at Warner Bros?

[B]

Whoever wins, David Zaslav wins. The failed CEO who is now winning Yetis.

[A]

Back in April, David Zaslav's strategy as the CEO of Warner Brothers Discovery had utterly failed.

[B]

The guy who merged Warner Brothers with Discovery and changed HBO Max to Max decided it was time to unmerge Warner Brothers from Discovery and rename Max to HBO Max.

[A]

Yeah, that was back when Warner Warner Brothers Discovery stock was just eight bucks a share. It was low.

[B]

But then the Ellison family decided to acquire Paramount. And then the Ellisons got interested in acquiring Warner Brothers too.

[A]

So they offered Warner Brothers 19 bucks a share in September and then 22 bucks a share after that, and then 24 bucks a share after that.

[B]

David Zaslav said no to all three of those Paramount offers. And that's when he got $27.27 from Netflix.

[A]

And now that has driven the Ellison's crazy. So they're offering 30 bucks a share in this hostile takeover.

[B]

30 bucks a share for something that six months ago cost 8 bucks a share?

[A]

Best is, at this price, David Zaslav is going to become a billionaire no matter what, whether he sells to Netflix or sells to Paramount.

[B]

Warner Brothers Discovery was much more valuable as a pawn in the streaming wars than as a standalone media company. That's what Zaz has discovered in the last six months.

[A]

And now whoever wins, the real winner is David Zaslav, CEO of Warner Bros.

For our second story, Sephora, the biggest cosmetics chain in the west, is celebrating sales that are all time highing.

[B]

Because Sephora knows that beauty, like football, is a game of inches.

[A]

That's right. We are connecting lip liner to John Madden.

[B]

You should have said linebackers.

[A]

I should have said linebackers. Jack.

[B]

Besties.

[A]

It is the Disney world of moisturizers. The Olympics of impulse buys.

[B]

You walk in for a $12 lip balm, you walk out with a new 12 step beauty identity.

[A]

Sephora. They were bought by Louis vuitton back in 1997 in a deal that at the time was called crazy.

[B]

But not today because Sephora is a 56 year old company.

[A]

It's middle aged.

[B]

True, but its financials must have anti aging cream.

[A]

We say that because Sephora's numbers have never looked better, baby. Jack, what are we seeing?

[B]

$18.5Bn of revenue last year is more than Dick's Sporting Goods, half as much as Best Buy.

[A]

But this beauty chain with the black and white bags is more profitable than both of those big box stores.

[B]

And last week in the Louis Vuitton earnings call, the CEO joked that he can't share the all time Sephora profits because you wouldn't believe how big they are.

[A]

Jack, did you see that The Sephora store in Paris gets more visitors than the Eiffel Tower in Paris.

[B]

Is that true?

[A]

It's true. More people are lining up to buy Mac lip liner than see the seventh wonder of the world.

[B]

It is possible.

[A]

No. First of all, but yet this is what Jack and I find fascinating. Sephora has faced more competition than ever before. And yet Sephora is thriving more than ever before.

[B]

Ulta Beauty is gaining market share. Amazon started selling subscription makeup online.

[A]

Jack TikTok shop beauty influencers are selling serums directly through Get Ready with Me videos.

[B]

And yet Sephora's 3400 global stores are in their all time high era. And Nick and I found a few reasons why.

[A]

Well, the first, Jack, is exclusive.

[B]

Of the 300 upscale beauty brands that Sephora sells, half you can only buy at Sephora.

[A]

Yeah, we noticed that Sephora basically signs makeup brands like team signs, athletes.

[B]

If you want the new road blush, you can only buy at Sephora.

[A]

And the second reason for the Sephora surge is economic.

[B]

We've told you before about the lipstick index. If you feel bad about the economy, you'll still buy a lipstick as a little treat for yourself.

[A]

And if you're feeling good about the economy, you'll also still buy lipstick. You'll just buy a more expensive lipstick.

[B]

So no matter the economic situation, somebody splurging on glossier at Sephora or maybe.

[A]

Christian Dior if they're feeling good about the economy.

[B]

And the third reason Sephora is in its all time high era is our takeaway.

[A]

But Jack, since you have a 42 step skincare routine and were once a backup D3 college high school quarterback, I feel like this Sephora takeaway was made for you. Are you ready for this, Jack? What's the takeaway for our buddies over at Sephora?

[B]

In the competition of retail, you have to fight for every inch.

[A]

Yetis. Last month, Jack and I got to interview the CEO of Lyft, David Risher, who has this great rule from his days of Amazon. Here it is. Every page must sell.

[B]

The idea is that every part of the customer experience must add value. Every moment is a selling opportunity.

[A]

Well, that's how Sephora thinks about their stores. As their CMO put it, every square inch must be productive. Every inch is like a little jewel.

[B]

You'll notice it if you go there. Teens linger by the Tom Ford fragrances that have naughty names.

[A]

And while the mini makeup section is strategically placed in the checkout line, where you're gonna wait for five minutes, the.

[B]

Giant table over there. It's for everything that's trending on TikTok right now.

[A]

There is no wasted space, no shelf for things that don't sell. There is no generic aisle six at Sephora.

[B]

Like football, retail is a relentless game of inches. And Sephora has become a hall of famer.

[A]

Now, a quick word from our sponsor.

[B]

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[A]

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

[B]

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

[A]

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

[B]

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[A]

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

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

[B]

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

[A]

Besties. There is more to imagine when you listen.

[B]

Sign up for a free 30 day audible trial. And your first audiobook is free, so visit audible.comtboy for the holidays, I'm hosting people every single weekend and I don't know any of them.

[A]

What is wrong with you, Nick?

[B]

They're actually paid customers. I'm hosting them at my chalet using Airbnb. I actually have two bookings lined up while I'm away bringing in really good money for the holidays.

[A]

Oh, okay, I got it. Yeti Jack's been an Airbnb host for the last couple years. He's got a better rating than Santa.

[B]

I'll be at home for Christmas under the Christmas tree, but the day after, I'm heading south to visit the family. And while I'm gone, I'm hosting guests on Airbnb.

[A]

And with the revenue generated on Airbnb, Jack, you're probably booking massages for you and Alex.

[B]

It's an entire little side business. I have an income statement, Nick. It offsets my cost of travel and ensures I'm getting the most of the assets I own.

[A]

It's a write off.

[B]

All of my guests have been super respectful. Not only do I have a 5 star rating, I've given my guests 5 stars too.

[A]

So, besties, treat yourself with the trip and treat someone else with a stay.

[B]

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

[A]

For our third and final story. Frozen yogurt. It's having a major revival led by the legendary DIY Froyo chain, sixteen Handles.

[B]

But the reason Froyo went away in the first place is not the reason you think.

[A]

Oh, yet he's. Every generation has its soft serve brand that it loves.

[B]

Boomers had Mr. Softy and Carvell Gen.

[A]

X had Tasty Delight in Cold Stone Creamery.

[B]

And Millennials had Pinkberry and 16 Handles.

[A]

Pro Tip, you're gonna want to put the mochi on those. If you don't put the mochi on, it's not really a soft serve, is it, Jack?

[B]

When we Millennials had just graduated from college, it was the Obama era Froyo frenzy in New York City.

[A]

DIY serve yourself chains with all you can eat toppings. That was the trend. And how do you pay for it, Jack?

[B]

It was literally a soft serve frozen yogurt buffet. And you built your own cone and topped it with whatever you wanted.

[A]

You pay what you weigh. Like the 16 handles located on Second Avenue in the East Village we used to go to all the time. Right, Jack?

[B]

Peanut butter and chocolate swirl topped with oreo crumbles and gummy bears. And of course, a side of the Vici soundtrack.

[A]

I would go three times a week. I went so often alone that I once went with Molly. Jack. And they knew me by name. And she did know how they knew me by name.

[B]

I think she put two and two together.

[A]

Kamara, I miss seeing you every day. But what was once a growing industry has lost a third of its business in the last eight years.

[B]

Froyo sales are down 28% since 2017, according to the New York Times. And the number of stores across America are down by 35% in that period.

[A]

Couple key reasons for this, right, Jack?

[B]

First, Froyo fits into the three Fs of fads that we've discovered. Fashion, fitness, and food.

[A]

Something's cool today, but it's cringe tomorrow.

[B]

But then the pandemic killed self serve frozen yogurt because it was literally a health hazard.

[A]

Yeah, shocker. When Jack clamps down on that peanut butter chocolate swirl handle. Yeah, it's a super spreader event.

[B]

I might have put my mouth directly underneath it before.

[A]

I know you want to say lick on the pod there, Jack, but besties, here we are years after the pandemic, and there are signs of life in that poorly built fro yo swirl that just toppled over in your dish.

[B]

Yeah, pro tip. Even if you want a cone, get a dish, because you're not building that thing right.

[A]

Always get the dish. We jumped in T boy style, and the New York Times just did a deep dive on 16 handles. The East coast chain almost in bankruptcy.

[B]

And it's a wild story about a young man who has saved the brand 16 handles and the industry of self serve frozen yogurt.

[A]

This is wild. His name is Noah Cuny Lichtman, and he made a bet that the problem wasn't with Froyo demand, it was with Froyo supply.

[B]

So he took out a $500,000 loan from the U.S. small Business Administration when he was only 23 years old.

[A]

And Jack, he didn't just pray for millennial nostalgia. He reformatted the stores to adapt to 2020 trends.

[B]

Blake, protein maxing.

[A]

Protein maxing. What did he do with that?

[B]

He introduced a high protein chocolate peanut butter banana flavor that has more grams of whey than a burger.

[A]

Okay, what about date night at the new 16 handles?

[B]

He turns the lights down and the music up after 8 o' clock and pulls out some high top tables. Boom. It's a zero proof nightlife option for people not interested in alcohol.

[A]

Now, to scale this remixed concept, he started granting franchises to other young ambitious believers, even students.

[B]

Noah sold the 16 Handles franchise to an MBA student at Columbia to open a location on the Upper west side that's doing very well.

[A]

This business school student is literally running a business. Add it all up, besties, and this man has sparked a fro yo renaissance.

[B]

If you Google frozen yogurt right now, you'll see dozens of stores are opening up across the country, probably near you, by the way.

[A]

16 handles already profitable with plans to add 200 more stores.

[B]

We're gonna have to change the name to 200 Handles.

[A]

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

[B]

Why is it called 16 Handles? Are there 16 flavors of froyo?

[A]

It's a story for another podcast. So, Jack, what's the takeaway for our buddies in the fro yo revival?

[B]

Why did frozen yogurt ever fall? Well, it was a victim of its own success.

[A]

Yetis today, Fro yopreneurs are betting this isn't a fad. They're betting that this is a multi generational Trend. They would arg.

[B]

The reason 16 handles got into trouble was its business model. Froyo was so successful that it got simply too big.

[A]

This is fascinating, but it turns out self serve machines are not expensive. And since customers can pour and build their own Froyo bowls, these stores require fewer employees and they can handle higher traffic.

[B]

It's like a buffet. It has low capital needs, low labor costs that attracted people to open up new Froyo locations.

[A]

Too many locations, in fact, and kind of like craft breweries, the industry was just oversaturated with supply.

[B]

That's why the industry fell apart. It wasn't a demand deficit, it was a supply surplus.

[A]

So, besties, add it all up and.

[B]

This latest Froyo wave, or ice age, if you will.

[A]

And we will. Jack should learn from the last one. Don't let Froyo fail because of its own success.

Jack, could you whip up the takeaways for us for T boy Tuesday?

[B]

Paramount is going directly to Warner Brothers shareholders, telling them to accept Paramount's offer, not Netflix's.

[A]

It's the latest episode of Warner Bros. Bachelorette. Whoever buys Warner Brothers. The real winner, though, is David Zaslav, who's gonna become a billionaire.

[B]

For our second story. Sephora faces intense physical and online competition and beauty, but it's all time highing.

[A]

Anyway, because retail is a relentless game of inches. And Sephora sells Lipstick like a linebacker.

[B]

And our third and final story. The hot treat of this winter is frozen yogurt bowls. Self serve and priced by the pound.

[A]

Ah, the biggest risk to Froyo isn't ice cream. It's that the business model is just too darn good.

[B]

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

[A]

First, According to some PFWTMS people familiar with the matter, SpaceX is planning to IPO next year at a $1 trillion valuation.

[B]

If it does, Elon Musk's space business will have the biggest IPO valuation of any company.

[A]

But in the meantime, SpaceX is still what Jack and I call a sumo stock. And what does that stand for?

[B]

J to invest. You're straight up missing out until they I.P.O.

[A]

S u m o. And second, for the first time ever for any country ever, China's trade surplus just passed $1 trillion. And 2025 isn't even over yet.

[B]

What's that mean? It means China exported $1 trillion more to foreign countries than it imported from foreign countries.

[A]

That's actually the biggest trade difference of any country anytime in the history of the world.

[B]

It's also a sign that with Americans buying less Chinese made goods, China has found other buyers all over the world.

[A]

And finally, sweetgreen just became the first fast casual chain with the value meal.

[B]

Sweetgreen stock is down 80% this year. Consumers are cutting back on $20 salads and double digit lattes.

[A]

By now, Sweetgreen is offering a $10 bowl of veggies, their lowest price yet by far.

[B]

The $10 Harvest Bowl Sweet greens, questionable profits.

[A]

Your move, Chipotle. Your move. Now time for the best fact yet. This one. An answer to yesterday's T boy trivia question.

[B]

We asked you what color is a subliminal message trying to touch your hunger buttons like blue is a subliminal message about safety. That's why banks have blue logos. But what color makes you hungry?

[A]

Well, a lot of folks said yellow in the comments section. Even more people said orange. Jack.

[B]

Because Burger King.

[A]

Okay, but Jack doesn't even know the answer to this. But you know what the answer is, man?

[B]

Brown.

[A]

It's red. It's red. Like if you think about all the fast food chains now think about this, right? Like McDonald's, KFC, Burger King, Wendy's, In N Out, Panda Express, Chipotle, Pizza Hut. Jack, Red Lobster. It's called Red Lobster, man.

[B]

True, but Red Lobster went bankrupt.

[A]

Right, but they're back, baby.

Jack, look at your food delivery Apps. Doordash Rezzy.

[B]

Wow.

[A]

Opentable.

[B]

You're right.

[A]

I'm salivating just thinking about it.

[B]

Dang.

[A]

Coca Cola.

[B]

Dude, there's no blue food delivery apps.

[A]

Red Baron Pizza, Kellogg's Frosted Flakes. Okay, we could go on, but we gotta pause the pod. Yetis, you look fantastic. The T Boy Tuesday. And just a thank you to all of you have already started buying your tickets to our live shows for next year.

[B]

We got the links in the episode description. If you want to see us and it means the world that you do.

[A]

So join us on the T Boy IPO TV tour for 2026. We can't wait to see you there. And Jack and I will see you tomorrow.

And before we go, a congrats on surviving to yeti Neil Dey from his bachelor party in Tulum this past weekend. He's all in one piece and all he did was a whole lot of yoga.

[B]

I was gonna say, isn't Tulum where you go for like yoga cleanses and.

[A]

Like, it's all he did there, dad. Jack, that's all he did there.

[B]

And congratulations to Courtney and Lucas Weatherby, who are getting married after eight years. They met at Cal Poly in beautiful San Luis Obispo.

[A]

Slo. Congratulations, guys. And Danny Regalato has got the best birthday yet. Just moved to San Francisco. Danny, you're gonna have a blast.

[B]

And happy birthday to Selvin Dubois in Ciudad de Guatemala. Guatemala.

[A]

And Addy Gilbert is a legendary yeti who made us a profit Puffy Graphic, literally the design of a profit puppy and sent it to us. Addie, thank you so much for your art. Addi, just send us over the royalty.

[B]

Free life in perpetuity. Then we'll talk business.

[A]

We're putting it up in the T Boy studio.

[B]

This is Jack. I own stock of Disney and Netflix. And Nick and I both own stock in Apple and Chipotle. If you like the best one yet, you can listen ad free right now by joining Wondery and the Wondery app.

[A]

Or on Apple podcasts Prime members can listen ad free on Amazon Music.

[B]

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

[A]

We want to get to know you.