👠 “HOLD Tory Birch” — Fashion’s stock market. Elon’s $1 Trillion Rihanna payday. The Capitalism Election. +Tom Brady’s cloned dog

Summary

Podcast Summary: "👠 HOLD Tory Birch" — Fashion’s Stock Market, Elon’s $1 Trillion Rihanna Payday, The Capitalism Election, +Tom Brady’s Cloned Dog

The Best One Yet | Nick & Jack Studios | Nov 6, 2025
Hosts: Jack Crivici-Kramer & Nick Martell

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Episode Overview

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

1. The "Capitalism Election" and its focus on America’s "unholy trinity" of unaffordability—rent, groceries, healthcare.
2. The phenomenon of treating your fashion wardrobe like a portfolio, as secondhand luxury goods become a new market for buy/hold/sell analyst reports.
3. The pivotal Tesla shareholder vote on Elon Musk’s unprecedented $1 trillion pay package and its implications for the company.

The show’s signature energy is on full display, blending sharp business analysis with humor and viral culture. Bonus: quirky news like Tom Brady cloning his dog, and a brief spin through notable headlines.

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Key Discussion Points & Insights

1. The Capitalism Election & America’s ‘Unholy Trinity’ of Unaffordability

[05:50 - 10:19]

• Democrats' Big Wins: Democrats swept the November elections, including New York, Virginia, and New Jersey. Notably, Zoran Mamdani, a self-described democratic socialist, was elected in NYC—the "capital of capitalism."

  • Quote (Jack, 06:16):
    "A majority of New Yorkers voted for a Democratic socialist named Zoran Mandani to run the capital of capitalism."

• Why Did They Win?

  • The election reflected intense voter focus on affordability, specifically groceries, rent, and health care—which Nick & Jack dub the “Unholy Trinity” of American unaffordability.
  • Social media (especially TikTok) played a major part—Zoran's financial humor ("halalflation," "food truck express") and viral reach (2.4M followers vs. Cuomo's 17k) were decisive.

• Capitalism’s Popularity Slides:

  • Gallup: Only 54% of Americans hold a positive view of capitalism, down from 60% in 2010.

• Challenges Ahead for Zoran:

  • While Zoran campaigned on raising taxes for millionaires and corporations, he faces legislative and real estate hurdles.

• Business Response:

  • Some in finance threatened an exodus, but ultimately, major players like Bill Ackman congratulated the winner; Florida advertises no corporate taxes while Texas’s governor joked about “100% tariffs” on New Yorkers moving in.

• Election Trends Analogy:

  • 2024: The "grocery election" (Trump on eggs).
  • 2025: The "rent election" (Zoran on high rent).
  • 2026 (prediction): The "health care election."

• Memorable Quote (Nick, 09:13):
  "Groceries, rent, and health care. That's the unholy trinity of American unaffordability."

Takeaway [10:19]:

Focusing on affordability (food, rent, healthcare) wins elections in today’s climate.

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2. Fashion as a Stock Portfolio – Buy/Hold/Sell Your Wardrobe

[10:35 - 14:53]

• New Financial Flex:

  • Managing your wardrobe like an investment portfolio; buy/sell/hold recommendations for luxury goods.
  • Growth in online resale marketplaces:
    • Thredup stock up 400% this year.
    • The RealReal posted record resale numbers.

• What’s Driving Supply/Demand?

  • Secondhand market performance is tracked like stocks—designer trends (creative directors leave/join, label news) drive spikes in demand and resale value.
    • Dior searches: +114% (new creative director).
    • Balenciaga: +310% (new designer).
    • Loewe: +500% (designer exit).

• Secondhand Analysts:

  • Fashion blogs (e.g., The Real Girl) now publish reports akin to Wall Street analysis.

    • Recent advice: “Buy Gucci, Sell Isabel Marant, Hold Tory Burch.”
      • Quote (Jack, 12:33):
        "Her latest report says, buy Gucci, sell Isabel Marant, and hold Tory Burch."

  • “Hold” = keep/wear, not sell: Tory Burch consignments are down, suggesting owners think their items are still fashionable.

  • “Sell” = move quickly: Isabel Marant blouses are peaking in searches, but trend is niche/could fade.

• Life Dividends – Not Just Financial Returns:

  • Concept (Jack, 13:40): “Introducing the financial concept of life dividends.”
    • Assets aren’t just stocks. A luxury dress pays "life dividends"—future emotional/payoff experiences from wearing it on special occasions, not just eventual resale value.
    • Quote (Nick, 14:42):
      "While some assets in life don't pay a cash dividend like a stock, they do pay a life dividend."

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3. Tesla’s $1 Trillion Elon Musk Pay Package Vote

[16:24 - 20:25]

• The Vote:

  • Tesla shareholders are voting on a plan to award Elon Musk a $1 trillion bonus (the largest in world history) if set milestones are hit.

• Will He Leave?

  • Board chair claims Elon will quit (or "quiet quit") if his deal isn’t approved. Elon has other big projects (SpaceX, xAI, etc.) competing for his time.
  • Quote (Jack, 17:26):
    “She said that if Elon doesn’t get this pay pack by shareholders today, he will quit the company. Or essentially. Quiet quit.”

• Arguments For & Against:

  • Against:
    • ISS (advisory firm) and Norway’s sovereign wealth fund are big holders voting no, calling the sum “astronomical.”
    • Concerns that Tesla’s fortunes are too tightly tied to Elon’s “cult of personality.”
    • Revenue/profits have fallen, yet stock is at all-time highs—a “story premium.”
  • For:
    • Elon fans (Dan Ives, Cathie Wood) want to “give Elon a green light”—they see him as essential to Tesla’s narrative and long-term potential.
    • It’s not about money for Elon—it’s about holding more control (shares) in Tesla, not more cash.
    • Quote (Nick, 19:15):
      “It’s not about cash, it’s about control.”

• The Premium of the Tesla Story:

  • Despite declining financials, Tesla's market cap is soaring due to narrative—EVs, robotics, robo-taxis—the “$10 trillion company” dream.
  • Quote (Nick, 19:50): “The story is that Tesla is not a car company. It’s a robotics company with plans to take over the world.”

Takeaway [20:14]:

“Tesla is the ultimate story stock and Elon is the only one who can tell the Tesla story.”
If you don’t support the size of his package, selling Tesla stock may make more sense than voting no, as the company’s narrative is so tied to Musk.

---

Quick Hits & Other Memorable Moments

Tom Brady’s Cloned Dog

[01:32 - 02:55]

• Tom Brady cloned his late dog Lua using a service from Colossal (startup aiming to revive extinct species).
• The cloned dog, Juni, shares the DNA and “the same bark.”
• Celebrity pet cloning is a trend, costing ~$50k.
  • Barbra Streisand and Paris Hilton have done it.

Notable Quotes & Fun Exchanges

• Nick (02:21): “They copied and pasted his puppy.”
• Jack (02:23): “They doubled his doggy.”
• Nick (02:55): “Reminder of our most famous fundamental rules of business: People ultimately prioritize puppies.”

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Noteworthy Headlines (News Bites)

[21:33 - 22:43]

• SCOTUS & Tariffs: Supreme Court is weighing the legality of Trump’s tariffs; could end trade war.
  • Jack (21:39): “Because tariffs are taxes—and Congress controls taxes, not the president.”
• Wild Stock Moves:
  • Snap +25% (Perplexity AI deal).
  • DoorDash -20% (bad earnings, overinvestment in robotics).
  • Robinhood fell despite revenue growth.
• Federal Shutdown:
  • FAA cutting 10% of flights at 40 U.S. airports due to staff shortages; some staff are Ubering to make ends meet.

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Best Fact Yet

[23:03 - 23:34]

• Interview preview: Lyft CEO David Risher was employee #35 and #37 at two separate trillion-dollar companies—teaser trivia for listeners.

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Timestamps for Key Segments

• [05:50] – The Capitalism Election begins
• [09:13] – “Unholy Trinity” of unaffordability defined
• [10:35] – The Fashion Portfolio trend explained
• [12:33] – “Buy Gucci, Sell Isabel Marant, Hold Tory Burch.”
• [13:40] – ‘Life Dividends’ concept
• [16:24] – Tesla’s $1T vote and Elon’s future
• [19:50] – Tesla as a “story stock” analysis
• [01:32] – Tom Brady clones his dog
• [21:33] – SCOTUS and tariffs + market news
• [23:03] – Best Fact Yet: Lyft CEO trivia

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Summary Table: Buy/Sell/Hold Fashion Report Example

| Brand | Action | Rationale | |-----------------|-----------|--------------------------------------------------------| | Gucci | Buy | Growing demand, trending upward on the resale market | | Tory Burch | Hold | Owners are wearing, not selling—suggests fashionability| | Isabel Marant | Sell | Demand up for niche piece, but trend may fade soon |

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In Closing

The Best One Yet delivers energetic, topical business news through the lens of what matters most to Americans and the markets right now—affordability, culture shifts, and the power of narrative.
With memorable aphorisms (“life dividends!”), sharp analogies, and signature irreverence, Nick & Jack keep listeners both informed and entertained.

Tune in for tomorrow's episode, listener shout-outs, and the Lyft CEO interview tease!

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Notable Quotes Cheat Sheet

• "Groceries, rent, and health care. That's the unholy trinity..." (Nick, 09:13)
• "Her latest report says, buy Gucci, sell Isabel Marant, and hold Tory Burch." (Jack, 12:33)
• "While some assets in life don't pay a cash dividend...they do pay a life dividend." (Nick, 14:42)
• “It’s not about cash, it’s about control.” (Nick, 19:15)
• "The story is that Tesla is not a car company. It’s a robotics company..." (Nick, 19:50)
• "Tesla is the ultimate story stock and Elon is the only one who can tell the Tesla story." (Jack, 20:14)

Transcript

[Nick]

This is Nick, this is Jack. It's Thursday, the new Friday, November 6th, and today's pod is the best one yet. This is a T boy.

[Jack]

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

[Nick]

Yeti stocks are near all time highs and so are our full stomachs.

[Jack]

Last night we went to little original Joe's Pizza.

[Nick]

Yeah, not to be confused with Joe's Pizza or classic Joe's Pizza.

[Jack]

We also bumped into two Yetis.

[Nick]

We did?

[Jack]

What were their names? Carlos and Diego.

[Nick]

Carlos and Diego, a couple great Yetis from Costa Rica now living in the Bay area.

[Jack]

Doing tonight we're going to Radhaus, which is my favorite German themed bike friendly restaurant in San Francisco.

[Nick]

You know what they say on Wall Street, Jack. Ach ya. Three fantastic stories for today's show. Jack, what do we got on the T boy?

[Jack]

For our first story, America just finished what we're calling the capitalism election.

[Nick]

Because it all came down to the unholy trinity of American unaffordability.

[Jack]

For our second story, hold Tory Burch, sell Gucci, buy Isabel Mar besties.

[Nick]

The new financial flex is treating your fashion wardrobe like a portfolio.

[Jack]

And our third and final story. Tomorrow could be the biggest day of the year because Elon Musk could quit as CEO of Tesla.

[Nick]

Because today Tesla shareholders vote on his $1 trillion shareholder package. Whereas Rihanna would say, better have my money.

[Jack]

And if they say no, Elon says he's out. But Yetis, before we hit that wonderful mix of stories.

[Nick]

Fantastic mix of stories, Jack.

[Jack]

Tom Brady has seven Super bowl rings.

[Nick]

Yes. Three MVPs.

[Jack]

Okay, two ex wives, count them. And one dog.

[Nick]

I'm sorry, Jack, I think you mean two dogs.

[Jack]

No, I mean one dog.

[Nick]

Yeah, but really two dogs. Because Tom Brady just cloned his dog.

[Jack]

Get this. Remember that anti extinction startup that's bringing back the dodo, the mammoth and the saber toothed tiger?

[Nick]

Yeah.

[Jack]

It's called colossal.

[Nick]

They're worth 10 billion bucks. Jurassic park style company we did a story on.

[Jack]

Well, it turns out Tom Brady is an early investor and he's cashing in on some perks right now.

[Nick]

Because just before his family dog Lua passed away, sadly in 2023, Tom Brady.

[Jack]

Snagged some of her blood, handed it to Colossal and said, one clone, please.

[Nick]

That's right, besties. Tom Brady got Colossal to clone his pet.

[Jack]

They copied and pasted his puppy.

[Nick]

They doubled his doggy.

[Jack]

Tom revealed it all in an interview on Tuesday with People magazine.

[Nick]

By the way, the new dog, the clone, it's named Juni.

[Jack]

Different dog, same DNA, different name.

[Nick]

That bark though. Oh, it's the same bark.

[Jack]

And on the same day that Tom revealed his Pitbull mix is actually a clone, Colossal announced they acquired a pet cloning company.

[Nick]

Because celebrities they've been cloning their pets for years now.

[Jack]

Apparently it costs about $50,000 to clone your pet.

[Nick]

I heard not too shabby. 2017, Barbra Streisand cloned her dog.

[Jack]

2022, Paris Hilton famously cloned her chihuahua, Jack.

[Nick]

Reminds me of one of our most famous fundamental rules of business. P U P P Y People ultimately prioritize puppies. Yeah. Let's hit our three stories.

[Unidentified Guest or Producer]

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.

[Jack]

50%.

[Unidentified Guest or Producer]

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. Start the show.

[Nick]

Start the show. First, a quick word from our sponsor, Framer Yetis the first website we ever built. Our MySpace page. Yeah, we were just young enough, right Jack?

[Jack]

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

[Nick]

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.

[Jack]

Framer already built the fastest way to publish beautiful production ready websites. And it's now redefining how we design for the web.

[Nick]

With the recent launch of design pages, a free canvas based design tool, Framer is more than a site builder. It's a true all in one design platform.

[Jack]

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[Nick]

So ready to design, iterate and publish all in one tool. Start creating for [e-mail] design and then use code T boy for a free month of framer pro.

[Jack]

That's framer.com design and use promo code T boy.

[Nick]

Framer.com design promo code T boy Rules and restrictions may apply.

[Jack]

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.

[Nick]

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

[Jack]

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.

[Nick]

It's a match made in platform history.

[Jack]

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

[Nick]

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

[Jack]

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.

[Nick]

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

[Jack]

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

[Nick]

Besties. No joke. Jack's very satisfied.

[Jack]

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

[Nick]

For our first story, Democrats swept on Tuesday, and it's being called the capitalism election because.

[Jack]

There'S a pattern that explains this election.

[Nick]

Yeah, there is.

[Jack]

Last year's election and probably next year's election.

[Nick]

What is it, Jack?

[Jack]

The unholy trinity of American unaffordability.

[Nick]

But, Jack, first let me just read off the names of the big banks to you. We got Goldman Sachs, Morgan Stanley, Zoran, Mundani, Yetis.

[Jack]

A majority of New Yorkers voted for a Democratic socialist named Zoran Mandani to run the capital of capitalism.

[Nick]

And it wasn't just New York's election. In Virginia and New Jersey, voters overwhelmingly elected a Democrat in their governor's races.

[Jack]

And in response to Texas gerrymandering their congressional districts earlier this year, Californians voted Tuesday to do the same.

[Nick]

Now, interestingly, in each of these elections, predictions markets were correct. Right, Jack?

[Jack]

Yes, but Democrats won by even wider margins than expected.

[Nick]

However, it was in New York City's mayoral election that the New York Times.

[Jack]

Called it the Capitalism election, because capitalism was basically on the ballot.

[Nick]

I mean, Jack, there's a couple capitalist guys over here. How's capitalism been doing these days?

[Jack]

Well, Gallup began polling Americans on their opinions of capitalism starting in 2010.

[Nick]

Okay, and what kind of numbers we.

[Jack]

Looking at this year? Just 54% of Americans hold a positive view on capitalism. That's down from 60% since 2010.

[Nick]

Feels like a moment we can't press the Cha Ching button, but besties. This leads to the biggest name among the election. 2025 winners. And that name again. Zoram Hamdani.

[Jack]

Like Bernie Sanders, Zorin calls himself a democratic socialist. And now he is governing Wall street, literally.

[Nick]

Now, one key reason for his victory, it's the strategic use of social media.

[Jack]

The successful use of social media. Zorin has 2.4 million TikTok followers compared to Andrew Cuomo's 17,000.

[Nick]

That's 150 times more. But the key within that social media strategy was growing his audience with financial humor.

[Jack]

Yeah, he coined the phrase halalflation.

[Nick]

Yeah, yeah.

[Jack]

The food truck express. Something every New Yorker.

[Nick]

The white sauce used to be free, and now it's not free, basically.

[Jack]

But now comes the hard part for Zoran, the governing right.

[Nick]

Because if Zorin wants to raise taxes on New Yorkers earning more than a million dollars and corporations as well, the mayor cannot do that without approval of the state lawmakers.

[Jack]

He will also need help with his rent promises. He wants rents to come down. That can't happen without the help of private real estate developers.

[Nick]

Now, New York's financial elite did say that Mamdani's election would result in businesses and the wealthy leaving the city.

[Jack]

On that note, Bizarrely yesterday, Texas's Governor Greg Abbott said he would impose a 100% tariff on any New Yorkers who want to move to Texas.

[Nick]

I mean, we're good people. We're good people.

[Jack]

Yes, you are good people.

[Nick]

But Florida is doing the opposite in.

[Jack]

This situation, which, unsurprisingly, they're not just advertising their beaches, they're advertising their 0% corporate and income tax rate to try to get New York businesses to come south.

[Nick]

So maybe when you add all up, it could have just been a big bluff. Many Wall street leaders right now, like Bill Ackman, have already congratulated Zoran Mamdani.

[Jack]

After r on him and saying there would be an exodus if he got elected.

[Nick]

It looks like Wall street may try to work with the mayor instead.

[Jack]

But we're most interested in the winning political trend of the last three years that Nick and I have noticed, and.

[Nick]

We got an analogy for it. So, jaggle, what's the takeaway for our buddies who are everyone watching the capitalism election.

[Jack]

Groceries, rent, and health care. That's the unholy trinity of American unaffordability.

[Nick]

Yetis, the economy has always been a decisive political issue, but in the last 10 years, it's more specifically focused affordability.

[Jack]

2024 was the grocery election.

[Nick]

That's what we called it. Trump won on a promise to lower the price of eggs.

[Jack]

2025, what just happened? This week was the rent election.

[Nick]

Zoron. He was laser focused on the rent in New York being too Damn high.

[Jack]

And 2026. We bet next year's midterm elections will be the health care election.

[Nick]

We do. Because food, rent, healthcare, they make up 55% of the average American's cost of living. And those are the biggest price pops of the inflation era.

[Jack]

The price increases of rent, healthcare, and food have been okay.

[Nick]

Now, Jack, we did say the unholy trinity, but you could say like the four horsemen of unaffordability, too, right?

[Jack]

Toss Disney plus in there to round it out as four. Cause Disney plus price, they come monthly.

[Nick]

Yeah, Mickey, why you keep jacking the.

[Jack]

Price up on us Yetis, Americans are desperate for relief from unaffordability, specifically with groceries, rent, and healthcare.

[Nick]

And the elections at 2024, 2025, and we think 2026 show that the key to winning elections is focusing on the economy's unholy trinity. For our second story, a wild new trend has emerged.

[Jack]

Buy.

[Nick]

Sell recommendations for items in your wardrobe.

[Jack]

We'll tell you why you should buy Gucci. Sell products. Oh, yeah, and hold your Tory Burch.

[Nick]

Hold on to it.

[Jack]

It's all about life, dividends.

[Nick]

Oh, Yetis, in this economy, the hot new thing. Oh, it is the old things.

[Jack]

The old stuff. Yeah.

[Nick]

It's a good stuff.

[Jack]

Secondhand. It's number one in the fashion age during inflation.

[Nick]

Yeah, there's no price pop on your grandma's old Prada, is there, Jack?

[Jack]

That's why stock in Thredup, an online resale Marketplace, are up 400% so far this year.

[Nick]

And why the real real, another online resale marketplace, announced record earnings back in August.

[Jack]

There's no tariffs when their supply comes from your closet.

[Nick]

Perfectly put, Jack, but besties. All the attention lately is not on the financials of these companies. It's actually on the RealReals Resale Trading Report that just dropped on the fashion community.

[Jack]

Nick and I jumped in T boy style to that report we did.

[Nick]

And what kind of numbers we looking at in the wardrobe?

[Jack]

Jack searches for Christian Dior on the RealReal are up 114% this year because.

[Nick]

Christian Dior just changed their creative director.

[Jack]

Balenciaga searches are up 310% because their.

[Nick]

Fashion label just got a new designer. And Loewe vey dresses nailed the pronunciation.

[Jack]

Jack searches are up nearly 500% on word that their famous designer is leaving the company.

[Nick]

Jack, call up Jim Cramer. Bottega Veneta handbags are popping like meme stocks these days.

[Jack]

This luxury label data has led to a fascinating new thing. Yeah, it has secondhand fashion analyst reports.

[Nick]

And honestly, Jack, considering we used to work in finance, like this makes sense, right? Like luxury clothing, handbags, shoes, they can rise and fall in value on the secondary market.

[Jack]

Financial analysts give investment advice for stocks, which is a secondary market. Now it's happening for luxury clothing.

[Nick]

We do it for stocks. Why not for stilettos?

[Jack]

The Real Girl is a blog that built a portfolio based on this secondary market data.

[Nick]

Yeah, she has str structured her analysis just like JP Morgan would.

[Jack]

And her latest report says, buy Gucci, sell Isabel Marant, and hold Tory Burch.

[Nick]

This isn't investment advice, but it's kind of investment advice. All right, well, how's the analysis work on this fashion stock portfolio, Jack?

[Jack]

The Real Girl noticed that Tory BURCH Consignments are down 2% on the RealReal. So more people are not selling their.

[Nick]

Tory Burch items, and therefore, her interpretation.

[Jack]

People are wearing their Tory Burch instead, which leads to the recommendation, hold your Tory Burch shoes, if you got them.

[Nick]

In this case, hold means wear them. You know, they're a hot fashion right now, and you want to look on trend.

[Jack]

Go outside. You'll look fabulous. Apparently, now's the time to wear your Tory Burch.

[Nick]

Okay, but Jack, on the other hand, searches on the RealReal for Isabel Marant ruffled blouses are up 54%, a signal of high demand.

[Jack]

And since that style is so specific, it might go out of fashion tomorrow. So if you have that blouse, you should sell it right now.

[Nick]

Are you selling it, Jack, on the Real Real? Yeah, I'm doing added up in the stock market and the fashion market are both secondary markets, and now we're getting.

[Jack]

The same level of sophisticated analysis.

[Nick]

So, Jack, what's the takeaway for our buddies who are everyone pouring through their wardrobes right now?

[Jack]

Introducing the financial concept of life dividends.

[Nick]

Now. Yeah, I got to pause the pot here. Jack told me about this concept, and I hugged him when I heard it. All right, we'll explain it. The definition of an asset. First, it's something that you own that promises future economic benefits for stocks, which are an asset.

[Jack]

Those benefits are someday selling for a gain or receiving a cash dividend.

[Nick]

Many stocks pay dividends. You know, a small cut of the profits that's sent to each shareholder every quarter or so.

[Jack]

Okay, so stocks are an asset. What about a luxury Louis Vuitton dress? Those are assets, too, because you might be able to resell that dress for a higher price someday.

[Nick]

And Jack, while it doesn't pay a cash dividend, on that dress, we would say the dress pays a life dividend.

[Jack]

You wore that dress on your first date.

[Nick]

Yeah.

[Jack]

You wore it to your best friend's wedding.

[Nick]

Totally.

[Jack]

Or you wore it on your third anniversary dinner. Besties.

[Nick]

When you bought it, that was an asset that paid you economic value in the future. Value in the form of life experiences.

[Jack]

Each of those life moments were like a little cha ching.

[Nick]

There you go, Jack.

[Jack]

A little emotional dividend.

[Nick]

So while some assets in life don't pay a cash dividend like a stock, they do pay a life dividend. And Jack, I love that concept.

[Jack]

Life dividends.

[Nick]

Yeah.

[Jack]

That's what life is all about.

[Nick]

Now, a quick word from our sponsor. Now a quick break.

[Jack]

Switching topics to one of our favorite sponsors, Vital Proteins.

[Nick]

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.

[Jack]

No, she's not.

[Nick]

But she did call me this weekend and here's what she said. She said, I need to know the promo code for your collagen peptide sponsor because I just bought more of it.

[Jack]

It was Vital proteins and their no sugar added collagen peptide products are delicious, especially the new 30 gram protein shake.

[Nick]

Now, I don't know what mom's into, the taste or the health benefits or she's trying to get jacked. But she's got healthy hair, skin, nails and joints right now.

[Jack]

Dude, I'd say it's all of them. So yetis. Go to www.vitalproteins.com to learn more and where to buy. Get 20% off your next order by entering promo code T boy at checkout. Netsuite.

[Nick]

Yeti's new thing, the AI Flex. Acting like you're using AI all the.

[Jack]

Time, but are you really?

[Nick]

Yeah.

[Jack]

What if your competitors use it more than you?

[Nick]

That's sweet. It's the number one AI cloud ERP trusted by over 43,000 business businesses.

[Jack]

It's a suite of services that brings your financials, inventory, commerce, hr, CRM into one source of truth. Besties.

[Nick]

If we needed this product, it's what.

[Jack]

We would use because it's the ultimate AI Flex.

[Nick]

And right now, you can get their free business guide demystifying [e-mail] tboy the.

[Jack]

Guide is free to you at netsuite.com tboy that's netsuite.com tboi.

[Nick]

For our third and final story, we got one other election for you. Tesla shareholders finish voting today on Elon Musk's $1 trillion pay package.

[Jack]

Financially speaking, Tesla is a cult. And this vote could determine the fate of its cult leader.

[Nick]

Now, besties, we all know the biggest bonus in history. You remember that one, Jack?

[Jack]

We covered it early on the pod.

[Nick]

Yeah, Alexander the Great, when he took over Babylonia, he gave himself like $100 million, right? Yeah. No, no, no, no, no, no, no. Elon Musk actually is the one who received the biggest bonus in corporate history.

[Jack]

He received over $50 billion earlier this year for turning Tesla from a small EV company to a massive car company.

[Nick]

But now Elon is up for the biggest bonus in world history.

[Jack]

To quote Dr. Evil, $1 trillion.

[Nick]

Yeah. Get this, best. He's the chairwoman of Tesla's board, who.

[Jack]

In theory is Elon's boss, but in practice very much isn't.

[Nick]

Yeah, yeah. She told Bloomberg News why Elon deserves a $1 trillion pay package.

[Jack]

She said that if Elon doesn't get this pay pack by shareholders today, he will quit the company. Or essentially. Quiet quit.

[Nick]

After all, Jack, Elon does have Xai, SpaceX, Twitter, Neuralink, and the Boring company, a bunch of other companies that he could be spending his time with.

[Jack]

So the whole point of this $1 trillion incentive package that Tesla set up is to keep him motivated, quote, unquote.

[Nick]

Yeah.

[Jack]

On Tesla.

[Nick]

And as we explained in our last story on this earlier this year, Elon only gets paid if he makes Tesla shareholders rich.

[Jack]

So ultimately, this bonus package, it's the ultimate put up or shut up deal.

[Nick]

So, besties, we gotta vote here. When investors are uncertain about a decision like this, what should you do? Well, you could go back to the.

[Jack]

Fundamentals, and based on the fundamentals, Elon definitely should not get paid this much.

[Nick]

Yeah. And there's some examples of this we're seeing like iss, which advises shareholders on how to vote on things like this. They recommended voting no.

[Jack]

And the Sovereign Wealth Fund of Norway, a huge Tesla investor, publicly stated this week that they already voted no.

[Nick]

Jack, why are these big investors voting no on Ela's deal?

[Jack]

Well, they described the bonus as astronomical.

[Nick]

Yeah.

[Jack]

Which at a trillion dollars is.

[Nick]

I mean, you think like a half or even a quarter trillion dollars. Yeah, that'd be pretty good, right?

[Jack]

I think that should be enough to motivate somebody.

[Nick]

Yeah. Also, this kind of puts all of Tesla's eggs in the Elon basket.

[Jack]

And Elon is not the most stable of baskets. I'm pretty sure he wants to go to Mars.

[Nick]

Yeah. He may not be on this planet in a few years.

[Jack]

But there are supporters, of course.

[Nick]

Dan Ives, who manages a popular investment fund, is voting yes on this deal.

[Jack]

So is Cathie Wood. They both want to give Elon a quote unquote bright green light to move forward with his Tesla master plans.

[Nick]

And you know what? The truth is though, this isn't really about the money. It's about the power.

[Jack]

Elon's already the richest person in the world. What he wants is more control of Tesla in the form of more shares of the company.

[Nick]

It's not about cash, it's about control.

[Jack]

Oh, and Elon. Yeah, he's taking this vote personally. Which leads to our takeaway.

[Nick]

So, Jack, what's the takeaway for our buddies who are everyone over at Tesla?

[Jack]

Tesla is the ultimate story stock and Elon is the only one who can tell the Tesla story.

[Nick]

Yeah, it's a. It's a story, premium. Yet Tesla's revenues, they're down in the last two years. Profits also down 65% in the same period.

[Jack]

And yet Tesla stock has doubled over the same period and now sits at an all time high because of a great story.

[Nick]

That's the story premium. The story is that Tesla is not a car company. It's robotics company with plans to take over the world.

[Jack]

Robo taxis and humanoid robots. They're going to make Tesla the world's first $10 trillion company.

[Nick]

But as Elon actually said last month, this is a direct quote. I just don't feel comfortable building a robot army here unless I own 25% of the company.

[Jack]

Tesla is a cult of personality, and without the cult leader, the stock is going to fall.

[Nick]

Sebastis. If shareholders want the stock to stay high, they should vote yes and give Elon this record bonus.

[Jack]

If out of principle you don't think Elon deserves this kind of a bonus, or you just think it's wrong because it's too much money to give one person. The smarter move would be to sell your Tesla stock instead of vote no.

[Nick]

Because Tesla is the ultimate story stock and Elon is the only storyteller. Jack, could you whip up the takeaways for us for the New Friday, Democrats.

[Jack]

Swept elections nationwide on Tuesday with a socialist now running the capital of capitalism.

[Nick]

Rent, food and healthcare. That is the unholy trinity of unaffordability.

[Jack]

For our second story, the RealReals Resale Shopping Report was actually rich market data.

[Nick]

Honey, hold the Tory Burch.

[Jack]

So now we're getting buy and sell recommendations for secondhand luxury besties.

[Nick]

If you own nice things that you like to use, those are assets and they pay life dividends.

[Jack]

For our third and final story, Tesla's shareholder meeting is today. We'll learn if they approved Elon's $1 trillion pay package or not.

[Nick]

We think they will because Tesla's a story st and only Elon can tell that story.

[Jack]

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

[Nick]

First, the Supreme Court heard arguments today about the lawfulness of President Trump's tariffs.

[Jack]

Because tariffs are taxes.

[Nick]

True.

[Jack]

And Congress controls taxes, not the president.

[Nick]

So the president's argument is that this is an economic emergency. But the justices, they don't appear to be buying it right now.

[Jack]

So soon they could rule that Trump's tariffs are illegal legal, meaning the Supreme Court could end the trade war.

[Nick]

And second, crazy movement yesterday, after hours on Wall street, just like the most insane stock trading we've seen all year.

[Jack]

First, Snap stock jumped 25% on news of a $400 million deal with Perplexity, the AI company.

[Nick]

And then doordash said, hold my beer. It dropped 20% on missed earnings and just too much spending on delivery robotics.

[Jack]

And then Robinhood stock fell despite. Despite doubling their revenues last quarter, driven by predictions markets.

[Nick]

And finally, the government shutdown's now the longest in history. But it's officially hitting your flight plans.

[Jack]

The FAA is canceling 10% of flights at 40 major U.S. airports starting Friday.

[Nick]

Yeah, because the FAA is short staffed. Workers appear to be ubering to make money on the side since they're not getting their usual paychecks.

[Jack]

So the FAA is reducing flight traffic to try to keep us safe. And I have three flights between Friday and Sunday.

[Nick]

Jack has more travel this week than in any other period of his Life. You have three flights, like in 24 hours.

[Jack]

I'm red eyeing back to the east coast on Thursday so you can fly.

[Nick]

To another part of the east coast.

[Jack]

So that my family and I can go to New York. Yeah.

[Nick]

So good luck. Now. Time for the best fact yet. And this one is some special T boy trivia. Because today Jack and I are interviewing the CEO of Lyft.

[Jack]

His name's David Risher. And get this. Before working at Lyft, David was employee number 35 and employee number 37 at two Epic companies.

[Nick]

Yes, he was one of the first 50 employees at two giant big tech companies.

[Jack]

They're both worth a trillion dollars.

[Nick]

And now he's the CEO of Lyft. So our trivia question. What is it, Jack?

[Jack]

What are those two companies that David Risher was the first 50 employees at.

[Nick]

Bonus points if you know why Lyft is the color pink. Yetis, you look fantastic for the new Friday. Jack. All right, we gotta hit the hair and makeup for this interview.

[Jack]

You ready? This? No, I gotta go to Rad House first.

[Nick]

I know. So we'll get a pretzel, then we'll.

[Jack]

Do hair and makeup.

[Nick]

Besties, drop your questions you got for the CEO of Lift in the comments and Jack and I will see you on tomorrow's pod. And before we go, congratulations to legendary Yetis, Allison and Jordan from Long island and Wyckoff, New York on their one week wedding anniversary. Best week in the books. You look fantastic.

[Jack]

Happy birthday to Alan vinecourt who's turning 30 in Charlotte, North Carolina. This man is also a brand new uncle Alan.

[Nick]

And Hannah Diagrazias is turning 21 years old down in Hotlanta, Georgia, interning at the governor's office.

[Jack]

And happy 26th birthday to Zachary Byer in Tampa, Florida.

[Nick]

And Spencer Patel. Enjoy that 25th birthday of the mid-20s in Orlando, Florida.

[Jack]

And happy birthday to Tristan Ross in Fargo, North Dakota. The best movie theater GM in all of the North.

[Nick]

Action.

[Jack]

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

[Nick]

Prime members can listen ad free on Amazon Music. And before you go, tell us a.

[Jack]

Little bit about yourself by filling out a short [e-mail] survey.

[Nick]

We want to get to know you.