🦺 “How Vests Won Wall St” — Vest Szn. Duolingo’s unhinged mistake. Air Travel’s Expedia moment. +AI Dog Pawdcasters

Summary

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The Best One Yet — November 10, 2025 🦺 Vest Szn. Duolingo’s Owl Mistake. Air Travel’s Expedia Moment. +AI Dog Pawdcasters

Hosts: Jack Crivici-Kramer & Nick Martell

Podcast: The Best One Yet (formerly Snacks Daily)

Date: November 10, 2025

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Overview

In this fast-moving 20-minute episode, Jack and Nick serve up three critical business stories with a light-hearted, conversational tone:

• Why Expedia is booking record travel despite economic anxieties
• How Duolingo's social media silence hurt its business
• The deep (and surprisingly complex) history of vests—now the uniform of Wall Street and Silicon Valley
  Plus: A viral AI dog podcast and reflections on the value of group belonging and branded swag.

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Notable Opening: Family, AI Dogcasts, and Canine Humor

• Jack recaps his family trip to NYC, setting a casual, personal tone (00:16–01:32).
• The duo riff about the surging popularity of an AI-hosted dog podcast, “Dog Pack,” and how leaning into the absurd is more palatable than deceptive AI:
  • “When AI pretends to be a real human, we don't like that at all. But if the AI is being clearly absurd like it is with these puppies, we actually embrace it.” — Nick (03:47)
  • The “dogcast” spurred 2M users for the app and landed a talent agency deal (03:24–03:39).
  • “If Chewy doesn't buy these guys, they must be cat people over there.” — Jack (03:39)

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Main Story #1: Expedia’s Soaring (Despite Air Turbulence)

[06:49–10:40]

Context & Surprise

• Despite 1,100 flight cancellations (worst travel day of the year), Expedia stock jumped 17% to an all-time high (06:49–07:33).
• “We’ve covered the weak jobs market… Gen Z’s basically not even buying Chipotle anymore… but the miles are calling and I must go, apparently.” — Nick (07:42)

Key Points

• Expedia's profit was its best ever, with $31B booked in the past 3 months across Expedia, Hotels.com, and VRBO (08:04–08:18).
• Americans are staying longer and booking further ahead; demand crosses income levels (08:26–09:02).
• CEO forecasts 6–8% revenue growth for Q4, pending government shutdown resolution (09:09–09:16).

Insight: The Travel Money Multiplier

• “You don’t just travel from A to B, you travel from A to B to C to D, then back to A.” — Jack (09:24)
• One trip sparks spending in flights, accommodations (Airbnb’s record), rides (Lyft’s record), and entertainment (Live Nation: nine “record”s on their earnings call) (09:41–10:18).
• Demand for real-world experiences remains powerful—post-pandemic “IRL” is strong (10:18–10:28).

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Main Story #2: Duolingo’s Social Media Silence = No Bueno

[10:40–15:03]

What Happened

• Duolingo stock plunged 23% in a single day—its worst ever (10:40).
• The catalyst: CEO Luis von Ahn posted an AI-hiring memo on LinkedIn, stating only roles AI can’t do would get human hires.
  • “Kind of looked heartless.” — Jack (12:01)
• Internal blowback led the company to “put the unhinged owl on pause” (social media dark for weeks) (12:21-13:10).

Why It Matters

• Duolingo’s quirky, slightly menacing green owl on TikTok is integral to its identity:
  • “The uncomfortable Duolingo owl has amassed a very real 17 million TikTok followers. No other brand is even close.” — Jack (12:43)
• When the owl stopped posting, likes dropped from 90M/month to 5M; DAU growth fell from 50% to 36% quarterly (13:19–13:46).
• Direct connection: less viral owl = less app use = financial pain.

Bigger Insight

• High-level social media managers now command $342K salaries, matching top engineers (14:26–14:37).
  • “The most important team at a tech company can actually be its social media team.” — Jack (14:14)
  • “Your top team may actually be your TikTok team.” — Nick (15:03)

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Main Story #3: Vests — The Quiet Symbol of Belonging on Wall Street and Beyond

[17:04–21:15]

Cultural Phenomenon

• It’s “Vest Szn”—from Wall Street to tech to commercial real estate, vests = status.
  • “The vest is kind of a career flex. A little bit of a status symbol.” — Nick (18:10)
• Brands, types, and logos denote seniority, aspiration, and tribe: Arc’teryx for VPs, Zara for juniors, Cotopaxi for the eco-conscious (18:10–18:25).

Origins & Explosive Growth

• Invented by King Charles II of England in 1666; formalwear for centuries; Patagonia made it a corporate climber staple in 1979 (18:54–19:26).
• Exponential growth: Moosejaw’s vests up 700% from 2015–2018 (19:38).

Three Reasons Vests Took Over

1. Air Conditioning: Cold offices needed easy layering; vests solved the chill (19:51–20:06).
2. Gifting Regulations: Finance can’t give >$100 gifts, but $95 logo vests are perfect (20:09–20:24).
3. Visual Group Identity: Vests are billboards—conveying status and group membership (21:03–21:10).

Broader Takeaway

• “Brands want to out, but people want to be in a group.” — Jack (20:29)
• Psychonomics: Vests, hoodies, and notebook branding are how industries signal tribe and achievement.
  • “The vest can become a tiny billboard of industry and achievement. Fashion’s business card signaling that you belong.” — Nick (21:03)
• “Finance has the vest. Because in every industry, there’s a craving to signal you’re part of the tribe.” — Jack (21:15)

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Quick Hits & Fun Moments

• AI Dog Podcasts’ success highlights public embrace of absurd AI, but unease about deepfakes (03:47).
• Expedia’s travel multiplier: “One trip looks like five trips to Wall Street.” — Nick (09:33)
• Duolingo’s Owl: “You stop being unhinged on Instagram and people stop using the language app.” — Nick (13:53)
• Vest as status: “Any sector adjacent to cash flow—you’re going to see guys wearing vests.” — Nick (18:40)
• Personal anecdotes: Jack’s family gets a mysterious slice of cake from a “silent angel” diner patron (24:07), driving home generosity and community.
• Factoid/Trivia: Who twists open Oreos more—men or women? Answer tomorrow! (23:29–23:53)

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Notable Quotes With Timestamps

• “When AI pretends to be a real human, we don't like that at all. But if the AI is being clearly absurd like it is with these puppies, we actually embrace it.” — Nick, on AI dog podcasters (03:47)
• “The uncomfortable Duolingo owl has amassed a very real 17 million TikTok followers.” — Jack (12:43)
• “The most important team at a tech company can actually be its social media team.” — Jack (14:14)
• “The vest is kind of a career flex. A little bit of a status symbol.” — Nick (18:10)
• “The vest can become a tiny billboard of industry and achievement.” — Nick (21:03)
• “Brands want to out, but people want to be in a group.” — Jack (20:29)

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Timestamps for Key Segments

• [00:34] — AI Dog “Pawdcast” & App Virality
• [06:49] — Expedia’s travel surge & multiplier effect
• [10:40] — Duolingo’s owl, AI memo, and social fallout
• [17:04] — Vest season: history, boom, and meaning
• [23:29] — T boy Trivia: The Oreo mystery
• [24:07] — The “cake angel” story

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Summary Takeaways

1. Expedia is defying economic gloom. The company’s record results are a “travel multiplier” story—one trip catalyzes multiple spending events and industries.
2. Duolingo’s social owl isn’t just for laughs. Their entire growth engine ties to a viral, “unhinged” mascot—proving social media teams now rival engineering in value.
3. Vests are more than utility. They’re wearable business cards, group signals, and subtle status symbols in corporate America—an intersection of psychology, fashion, and office regulation.

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Final thought:
Whether it’s playful AI, travel’s network effects, or the power of a branded vest, “the best one yet” reminds us that business, at its core, is always personal and tribal.

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Transcript

[A]

This is Nick. This is Jack.

[B]

Welcome back to the Beacon of Business. It is Monday, November 10, and today's pod is the best one yet. This is a T, boy.

[A]

The Beacon of Business. We're trying something new on today, but.

[B]

Jack, congratulations on the weekend. How'd it go down there, man?

[A]

So we did our first family trip to New York City, and we all flew down there on Friday for just two nights in the city.

[B]

Okay, you just do two days. Central Park, Honestly, that's an entire trip, man.

[A]

Here's the itinerary. Saturday morning, we were at the Natural History Museum as it opened at 10 o'. Clock.

[B]

Gotta be there.

[A]

Amazing time.

[B]

Perfect.

[A]

Then we went into the Central park boathouse for lunch. That was a scene.

[B]

It's a boozy scene. Yeah.

[A]

Couple cocktails later and, like, six portions of macaroni and cheese, we just walked around Central park while the boys fell asleep in the stroller. We hit up three different playgrounds by the end of the day. Wonderful, wonderful day in the city.

[B]

Central Park's got to have the highest concentration of playgrounds in the country. I mean, there is nothing like skinning your knee on one of those bricks and concrete structures. Jack.

[A]

And we closed it all down with a cash only Italian restaurant on the Upper west side. If it's cash only, you know, it must be good.

[B]

Oh, and the black and white cookies. Jack. Well, I'm so glad you had a fantastic time, man. It's just an amazing place for kids, and everyone forgets that.

[A]

Yeah. Get this. At the hotel, Nick had a gift waiting for me. It was three different children's books, all set in New York City.

[B]

The kids were in the park. They may as well see it in the books, too.

[A]

I'm gonna read them. Eloise Goes to New York Tonight.

[B]

Eloise and Lyle. Crocodile Jack.

[A]

They know.

[B]

We got three fantastic stories for today's. What do we got on the pod man?

[A]

For our first story, we just experienced the worst travel day of the year. 1100 flights were canceled this weekend. Luckily, neither of mine.

[B]

But besties, if you really want to understand the travel industry right now, you got to look at Expedia.

[A]

For our second story, it's finally here. It's officially vest season, because vests are the unofficial uniform of finance and tech.

[B]

So Jack and I did the research and discovered how the vest has taken over every industry.

[A]

And our third and final story is Duolingo. And Duolingo had its worst day on the stock market ever, plummeting 29% for one wild reason.

[B]

Duolingo's crazy Owl mascot was not unhinged enough.

[A]

But before we hit that wonderful mix of stories.

[B]

Fantastic mix of stories, Jack. Love the mix.

[A]

Today, there's some new competition Nick, I think you should know about.

[B]

Yeah, Besties. It's not another podcast. Jack and I are facing a pod Cast. Pod P A W. Oh, it's a podcast.

[A]

It's a podcast with dogs as the co hosts.

[B]

Get this, the fastest growing podcast show right now. It's hosted by Dogs. A podcast.

[A]

The co hosts are a couple of AI dog podcasters, and apparently they're hilarious.

[B]

The context to sprinkle on the name of this podcast is the Dog Pack.

[A]

Dog Pack is actually an app that lets dog owners connect with each other.

[B]

But to get attention, they created a fake podcast with dog hosts.

[A]

And now this real show has fake AI dogs talking about their real canine problems.

[B]

The canine coasts are AI, but the human listeners have been real. And what kind of stuff are you going to hear on this podcast, Jim?

[A]

The spunky Rottweiler's like, pro tip, bro. If you beg for your food, they give it to you nine out of ten times. Okay.

[B]

What is that Chihuahua saying on the pod, though?

[A]

Get a load of this guy. He recently switched me from wet dog food to dry dog food.

[B]

Yeah, it's hard to compete with these guys now.

[A]

This dogcast has boosted the App's usage to 2 million users in 20 different.

[B]

Countries, and now they're counting their downloads in doggy years.

[A]

It's so popular, Dog Talk just signed a talent agency deal with WMB to get a bunch of brand deals.

[B]

If Chewy doesn't buy these guys, they must be cat people over there.

[A]

But on a serious note, this actually highlights an interesting angle about artificial intelligence.

[B]

Yes, it does, Jack, because when AI is replacing a human, many find it problematic.

[A]

When AI pretends to be a real human, we don't like that at all.

[B]

But if the AI is being clearly absurd like it is with these puppies, we actually embrace it.

[A]

Nobody's pretending to be real here.

[B]

Yeah, as far as we know, there have been any podcasts hosted by real rottweilers out there.

[A]

This is just good, clean AI canine fun.

[B]

So, besties, smash that subscribe button. We mean lick that subscribe button.

[A]

And remember, dogs are way more fun than cats. All the one star reviews on this show, they're left by cats.

[B]

Can you imagine if the cats were hosting a podcast, Jack? A lot of silence and a lot of judgment. True. Jack lets in on 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.

[B]

So just start the show.

[C]

Start the show.

[B]

First, a quick word from our sponsor.

[A]

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[B]

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[A]

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[B]

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[A]

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[B]

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

[A]

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

[B]

If we needed this product, it's what.

[A]

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

[B]

And right now, you can get their free business guide demystifying AI at netsuite.com.

[A]

The guide is free to you at netsuite.com tboy that's netsuite.com tboi this show is brought to you by BetterHelp.

[B]

Yetis. 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 disconnected from friends.

[B]

Okay? But then when you do finally meet up with your buddy Timmy and your friends, 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 for.

[B]

Our first story, Expedia's booking boom is defying the economic Doom.

[A]

Nick, the entire travel industry is still seeing record high demands because one trip you did looks like five trips to Wall Street.

[B]

Well explained. But besties, in the meantime, while you're listening to our show, Google the word travel and you're gonna see headlines about the FAA cutting flights because of the government shutdown.

[A]

New York to Nashville, never departing.

[B]

Yeah, delayed forever. But if you do look up travel instead in the Google Finance tab, you're gonna see a lot of.

[A]

Because Expedia stocks soared by 17% on Friday to an all time high on news of their best quarter.

[B]

Now, yetis this shocked us. And why is that, Jack?

[A]

We've covered the weak jobs market in America. We've covered the young people's recession happening in America.

[B]

Gen Z's basically not even buying Chipotle anymore. Yeah, because the guac and the meat is extra.

[A]

But the miles are calling and I must go, apparently.

[B]

And besties, we can see your wild Key west party weekend in the numbers from Expedia.

[A]

Expedia's operating profit was the best on record, sending the stock to an all time high.

[B]

I'd press that cha ching button again, Jack, but besties, here's what we find fascinating. Just the sheer scale of this, like $31 billion worth of travel that was.

[A]

Booked across Expedia's three travel brands in just the last three months.

[B]

It's like five lifts. Expedia hotels.com, vRBO. Best growth in the US travel demand in three years for all three of them.

[A]

The CEO said on the earnings call that Americans are staying longer and booking further in advance than they usually do.

[B]

So basically, you spent a couple extra days in the Dolomites and you planned.

[A]

That epic trip a year ago, which is strange. More travel. It's not what you'd expect from an anxious consumer who's cutting back on Chipotle burritos.

[B]

And yet these earnings are a data point of consumer confidence, at least in the entire travel industry.

[A]

And Expedia is not just seeing travel growth from medallion travelers platinum upgrading their everything.

[B]

Yeah, this isn't Amex money we're talking right now, is it, Jack?

[A]

No, they're seeing it across income levels.

[B]

Yeah, hate Disney World's price hikes, but you're still hanging out with Goofy and having fun while you're there.

[A]

You're still going.

[B]

In fact, the CEO of Expedia is so confident right now, she forecasts 6 to 8% revenue growth for the fourth quarter that we're already in.

[A]

Let's just hope the government shutdown ends so that those bookings can actually happen.

[B]

So, Jack, what's the takeaway for all our buddies looking at the travel industry?

[A]

You don't just travel from A to B, you travel from A to B to C to D, then back to A. Besties.

[B]

Jack and I have talked to you about the money multiplier effect. Basically an economic concept that spending multiplies as you spend.

[A]

Because when you buy something, that becomes someone else's income and then they buy something which is someone else's income, and it goes on and on and on.

[B]

And you know what? We're seeing it right now in travel because maybe you booked a flight to Miami on Expedia.

[A]

You also booked accommodations for that trip. Maybe on Airbnb. They announced record bookings last quarter.

[B]

And Jack, you probably booked a Lyft to get from the airport to that Airbnb. And Lyft also just announced record earnings last quarter.

[A]

But why were you in Miami in the first place? Probably to see Lady Gaga's Mayhem tour.

[B]

Perfect timing, Jack, because Live Nation, which sold you those tickets, said the word record nine times in their latest earnings.

[A]

All of these travel earnings bananas tell us two things. First, the post pandemic demand for travel and IRL experiences is still very strong.

[B]

And second, that the money multiple multiplier effect is happening in travel because you.

[A]

Don'T just travel from A to B, you travel from A to B to C to D, back to a taxi.

[B]

For our second story, Duolingo just had its worst stock market day ever, plummeting 23% in just hours.

[A]

The reason? Their owl isn't unhinged enough.

[B]

We repeat, the owl should have been more unhinged.

[A]

It proves that the most important thing at this tech company is its social media team.

[B]

Now, yet he's funny situation Jack and I have with the co founder and CEO Luis Van Ahn of Duolingo, the language learning app.

[A]

Well, we interviewed him in April. He came on our show, announced a new product, Chess. Yeah, and the stock rose 60% in the three weeks after he came on.

[B]

T. Boy, not too shabby. Jack and I have been telling people, come on the pod, we basically end up boosting your stock.

[A]

Not too bad. But apparently that was the beat because Duolingo stock has erased all of those gains and more since investors.

[B]

Apparently they've been lost in translation.

[A]

And we know the date and the place where that stock downfall began. April 28th on LinkedIn.

[B]

Now, Bevc's Jack and I have never seen someone get canceled on LinkedIn before. But Luis von Ahn CEO of Duolingo basically did. Yeah.

[A]

Well, he posted his internal memo on artificial intelligence. It said that Duolingo would not hire anybody unless the managers could prove that AI can't do the job.

[B]

Instead. Ah, the infamous AI memo. It made their workers anxious, made other workers anxious, and made a whole lot of people mad. Really? On LinkedIn.

[A]

Kind of looked heartless. Yeah.

[B]

Jack, what's the Spanish word for.

[A]

Oh, I don't know. But for the first time, Duolingo was in the cultural doghouse. So they made a big decision.

[B]

What was?

[A]

They told their social media team to stand down.

[B]

They stood down. Jack, you're gonna have to sprinkle on some more TikTok context for us, please.

[A]

It's a big deal that Duolingo social media team went dark because even though it's a language tech company, they're famous for their social media mascot. Yeah, the owl. The naughty green owl.

[B]

Yeah, I was going to say unhinged, but I like how you went with naughty on that one. Jack.

[A]

What the owl does has nothing to do with conjugating French verbs. It's just a freaky owl that makes you feel kind of weird that you haven't opened the app yet.

[B]

That uncomfortable Duolingo owl has amassed a very real 17 million TikTok followers.

[A]

No other brand social media is even close to as big as Duolingo's McDonald's.

[B]

They're sitting at like 5 million TikTok followers.

[A]

But in the face of that AI pushback from the memo that the CEO published, Duolingo put that naughty owl on pause.

[B]

The CEO Luis von Ahn, revealed it last week in the earnings. We passed on all the unhinged posts in our social media for a bit.

[A]

Why? Because we were listening to our community, he said. AKA we were in the social media doghouse.

[B]

Yeah, in the old Instagram doghouse.

[A]

So no surprise. The number of likes on TikTok for Duolingo fell from 90 million a month earlier in the year to just 5 million a month recently.

[B]

But what was a surprise for us.

[A]

That the weakness on social media translated to weakness in their core business because.

[B]

Besties Duolingo not going viral led to their daily active users growing by the smallest percentage in years, from growing 50%.

[A]

Per quarter to just 36% per quarter.

[B]

I carumba, Jack, as they say in.

[A]

German, das ist ein problem neck not possible besties.

[B]

What we're saying is that Duolingo's unhinged owl stop being unhinged on Instagram and people stopped using the language app.

[A]

Strange reason to Learn German because a fake owl on Instagram told me to.

[B]

Do you know how to say owl in German, Jack?

[A]

I think it's just owl actually sounds.

[B]

Like you don't know. So, Jack, what's the takeaway for our buddies over at Duolingo?

[A]

The most important team at a tech company can actually be its social media team.

[B]

Yetis. Two months ago, Jack and I noticed that a leader on Duolingo social media team stepped down. So a new job posting went up.

[A]

And guess what the salary was for this new job posting? $342,000 to manage a fake owl.

[B]

Sit down, stand up and cash that check. Again.

[A]

That is the same salary for social media as for top engineering tech jobs besties.

[B]

This combination of that job posting and this earnings report have made a very powerful statement.

[A]

And here it is. It's time to value the social media role with the value it creates and deserves.

[B]

You see, for apps that depend on you opening them like like Duolingo, social media is a powerful opening tool.

[A]

So Duolingo's social media manager is getting paid the same as Meta's engineers are.

[B]

Yetis, your top team may actually be your TikTok team. Now a quick word from our sponsor.

[A]

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 grand graduate degrees. Nick, it turns out heated 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. Man.

[A]

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.

[A]

And you got a connection. Hosting on Airbnb can provide you with another income stream and another source of life satisfaction.

[B]

Whether you're a Wolverine or a Buckeye Besties. No joke. Jack's very satisfied.

[A]

Your home might be worth more than you think. Find out how [e-mail] host now a quick Break. Switching topics to one of our favorite sponsors, Vital Proteins.

[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]

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.

[A]

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

[B]

Now, I don't know if my 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. Dude, I'd say it's all of them, so yetis.

[A]

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.

[B]

For our third and final story. Besties. It's that special time of year vest season. From Wall street to Silicon Valley, we.

[A]

Unzipped the story on how the vest took over corporate America's wardrobe.

[B]

We did.

[A]

And it goes back 359 years. And yes, I put on a vest for this story.

[B]

Honestly, Jack, it looks like that vest put on you. That thing's huge. You know what it's like out there. The leaves are changing, the football's playing. It is officially vestvember, baby.

[A]

Only two more weeks before you gotta add sleeves. So enjoy it.

[B]

The vest, it's part of the uniform of corporate America during shoulder season. What else we got, Jack?

[A]

Beige slacks, brown leather uncomfortable shoes, a button up white, blue or pink shirt, and it's all wrapped together in a gray vest with an ambiguous bank logo.

[B]

Yes, since Patagonia put the kibosh on the finance branded vest back in 2021, white collar workers have had to adapt.

[A]

And have I've seen some out there wearing quilted, insulated vests like Barbours. And others wear huge puffy vests like me.

[B]

Jack, the vest is kind of a career flex. A little bit of a status symbol, right? Like, you know, you got the Arc' teryx if you made vp, or the Zara if you're, you know, entry level.

[A]

Intern, or the Kodo Paxi if you want everyone to think that you're, I don't know, a sustainability minded guy.

[B]

But besties, add it all up and they all scream I'm investing. Literally.

[A]

But you can't mock the vest's performance. Finance. It's the only fashion to defy cyclicality.

[B]

That's right, because in the 2000 and tens, the vest expanded beyond finance bros to tech and commercial real estate.

[A]

Any sector adjacent to cash flow. You're going to see guys wearing vests.

[B]

And that is why, in addition to cuffing season, it's officially vesting season.

[A]

But Nick, the origin of the vest, who invented the vest? You did some research on this? Oh, yeah.

[B]

We jumped the T boys down. The inventor of the vest was King Charles II of England back in 1666.

[A]

Here was his. A British fashion item to take on the French and tie together the whole outfit.

[B]

I mean, Jack, if you think about it, you can picture the redcoats wearing vests during the Revolutionary war.

[A]

Yeah. Under their red jackets was a white vest.

[B]

And for the next three centuries, that vest remained formal menswear until 1979.

[A]

That's when Patagonia entered the scene.

[B]

And eventually the apparel made for mountain climbers got taken over by ladder climbers.

[A]

From mountains and altitudes to mergers and acquisitions.

[B]

But yetis, what really fascinated us about the vest, what really stands out is not just the time length, but the acceleration of the vest.

[A]

Get this. From 2015 to 2018, Moose Jaws, sales of vests rose by 700%.

[B]

And Jack and I have identified three fascinating reasons why the vest experienced a surge.

[A]

Number one, a practical reason. Air conditioning.

[B]

Yeah. In the 20th century, trading floors on Wall street began to be jacked up with ac.

[A]

I think they do this keep their workers on edge. Like a cold worker is a hard working worker. You think you're gonna like, keep yourself warm by spreading those spreadsheets.

[B]

That giant vest alleviates the chill.

[A]

The second reason for the vest surge is hilariously, regulations.

[B]

That's right, regulations. Because in finance, you are not allowed to gift a client a product worth over $100.

[A]

So the vest became the perfect $95 fashion gift that didn't violate regulations.

[B]

So, Jack, what's the takeaway for our buddies who are everyone wearing or staring at a vest?

[A]

Brands want to out, but people want to be in a group.

[B]

So besties. A lot of business just comes down to psychonomics, psychological economics. And the vest is the one garment that effectively reflects your belonging in a group.

[A]

As one trader put it, you put in the work your whole career to become VP on the equity research team someday.

[B]

Well, you know what? The vest with that logo is your only silent way to communicate your accomplishment.

[A]

You can't customize a suit with a brand new. You can't wear a branded hat to work that's not in the dress code. And you can't stick a corporate logo on sneakers.

[B]

But the vest can become a tiny billboard of industry and achievement. Fashion's business card signaling that you belong.

[A]

Creatives have their branded Moleskine notebooks. Startup workers have their branded hoodies.

[B]

But finance has the vest. Because in every industry, there's a craving to signal you're part of the tribe. Jack, could you whip up the takeaways for us to kick off the week?

[A]

Expedia stock hit an all time high on record US Travel bookings last quarter.

[B]

Because one trip you do looks like five trips to Wall Street. And that is the money multiplier effect in travel.

[A]

For our second story, Duolingo's daily active users slowed big time after they put their unhinged social media owl in the cage.

[B]

The owl needs to be more unhinged. The most important team at a tech company can be its social media team.

[A]

And finally, it's officially vest season. Not just for finance bros, for all of corporate America.

[B]

The vest. It's your subtle wearable business card. Because people, people want to belong.

[A]

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

[B]

First, Waymo won't stop, baby. Detroit, San Diego, Las Vegas. Apparently they are all getting Waymo starting next year.

[A]

This time, Waymo didn't announce Uber or Lyft as a partner for those three cities.

[B]

And second, the Trump administration is eager to respond to last week's elections. So they floated a new idea to address affordability.

[A]

The 50 year mortgage. Trump's housing director said he's working on it after Trump tweeted about it.

[B]

In the tweet, President Trump compared himself to FDR, who is the president who brought us the 30 year mortgage.

[A]

If the 50 year mortgage becomes real, we'll cover it. But right now, it's just a tweet.

[B]

And finally, sweetgreen is selling off its robot salad making business. That's right, the Infinite Kitchen is no longer a sweetgreen salad product.

[A]

We interviewed the sweetgreen co founder last year and talked about this. We did. It's core to the strategy to use robots to scale salads more efficiently.

[B]

Interestingly, Sweetgreen bought this infinite kitchen technology for 50 million bucks a few years ago. And now they're selling it to wonder for 186 million bucks.

[A]

Ironically, we interviewed the CEO of Wonder as well.

[B]

It seems like every time we interview someone saying good happens, but then it's like not so great happens, Jack.

[A]

Now we should Clarify. Sweet Green will continue using the Infinite Kitchen, but not as the owner, just as a client.

[B]

So you could still get your robo sales. Now time for the best fact yet, which because it's Monday, means T boy Trivia. Jack, what do we got?

[A]

Last week we asked you about the origin of the name Oreo and there's no answer. It's actually a corporate mystery. Here's a question about Oreos we do have an answer for. Who is more likely to twist open an Oreo before eating it? Men or women?

[B]

That's right. Who is more likely to scrape off the cream filling with their front teeth like it's a snowplow? Men or women? Guys or gals?

[A]

The answer to this ore conundrum comes in tomorrow's pod.

[B]

Yetis, you look fantastic. To kick off the week. Jack, you look fantastic considering all the travel you've done lately. But by the way, we gotta share. You gotta tell the yetis your cake story.

[A]

We were at this great New York diner on the Upper west side, what's it called?

[B]

Nick Vyond Classic.

[A]

And Wilder was having a meltdown because his coloring, like, wasn't working right. And some anonymous angel on the other side of the restaurant sent us a slice of chocolate cake to make Wilder get in a better mood. It worked. Worked perfectly. And then a couple minutes later, I go to the other side of the restaurant to thank somebody and they were gone. It was truly just a silent angel looking after our family.

[B]

So whoever this cake saint was, you may be listening, you may be not, but we just want to thank you for making Jack's son, the pod son, happy.

[A]

It is an incredible anonymous donation which.

[B]

Leads to a new insight. If you get kids cake, they stop screaming besties, we'll see you tomorrow. Can't wait. And before we go, a congratulations to yeti's Catherine and Jimmy in Brooklyn, New York, who are celebrating the best wedding yet. You guys look fantastic.

[A]

Congratulations to John and Danny Gill in Grand Rapids, Michigan, who just got married.

[B]

And a happy birthday to she dawn in Boston, celebrating just outside Boston.

[A]

Happy birthday to Jamie Talbot in South Jordan, Utah.

[B]

And we definitely know Jamie had cake. And Nick alves is turning 31 years old down in Hotlanta, Georgia.

[A]

Congratulations to Ellie Scripps in Denver who just got a new job in sales.

[B]

And Krista Gilly, happy new job down in Nashville.

[A]

Congratulations and a big shout out and kind of apology to Nick Jordan. Yeah, yeah, we said last week he was turning 4, like it's his fourth birthday birthday. It's actually four years. He's been at his job, so he's very much. Not four years old much.

[B]

A lot older than four. Our bad, Nick.

[A]

Great guy, though. Great guy.

[B]

We'll celebrate your birthday soon.

[A]

This is Jack. I own stock of Lyft. And Nick and I both own stock of Airbnb and Chipotle. 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 Podcast Prime.

[B]

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

[A]

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

[B]

We want to get to know you.