😰 “Human-shaming” — Sam Altman’s bubble. Axe’s bodyspray rebound. Milan’s Brexit win. +Hockey tooth recession

Summary

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Podcast Summary: The Best One Yet

Episode: “Human-shaming” — Sam Altman’s bubble. Axe’s bodyspray rebound. Milan’s Brexit win. +Hockey tooth recession
Hosts: Jack Crivici-Kramer & Nick Martell
Date: February 24, 2026
Length: 20 minutes (excluding ads and non-content)

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Episode Overview

This T Boy Tuesday edition of “The Best One Yet” dives into three major pop-biz stories of the day:

1. Axe Body Spray’s comeback and its surprising new strategy.
2. The unraveling of the “Sam Altman bubble” in AI — with a spicy side of human-shaming.
3. Why Milan, Italy, is the true economic gold medalist a decade after Brexit.

Nick and Jack bring energy, wit, and sharp one-liners with their signature “T Boy” inflections, providing fresh takes on trends in business, sports, and global economics.

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Key Discussion Points and Insights

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1. Hockey Tooth Recession: The True Cost of Olympic Gold

[01:18–03:18]

• USA Men’s Hockey Triumph (and Dental Sacrifice):
  The hosts celebrate the U.S. men’s hockey team’s epic win, also noting what players paid for it — namely, their teeth. Player Jack Hughes “lost his two front teeth to win that game” ([01:38], Nick).
• Hockey’s Dental Dangers:
  • Stats: 31% of hockey players sustain an oral injury during their career; in the NHL, 60% lose at least one tooth ([02:06–02:18], Jack & Nick).
  • Quote:
    “The other 40%…they just haven’t played hockey long enough.” ([02:18], Jack)
  • Tradition trumps protection: Hockey players don’t have to wear mouthguards; pucks and sticks fly, fighting is frequent, and “spinning the chiclets” (i.e., losing teeth) is almost a rite of passage ([02:22-02:50]).
• Personal Anecdotes:
  • Nick shares his own “fake teeth knocked out by a stick” story ([03:02], Nick).
  • “Jack had to drive me to the plastic surgeon after that” ([03:11], Nick).
  • “Best thing that ever happened to my face. Honestly, they’re better than the original ones.” ([03:18], Nick)

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2. Axe Body Spray: Growing Up or Staying Forever Teen?

[06:02-10:35]

• Fragrance Trend — Smell Maxing:
  Modern teens (Gen Z and Alpha) wear multiple fragrances per day for different body parts. Fragrance sales are at record highs, and Axe is looking for relevance again ([06:23–06:43]).
• Axe’s Comeback Plan:
  • New Bottle: 25% smaller, 10% more sprays; each spritz delivers less Axe ([07:21–07:34], Jack).
  • Modern Pitch:
    “No longer will you drown a potential mate in an aerosol vape cloud.” ([07:41], Jack)
  • Axe’s new ads have shifted away from sexualized, controversial themes to a more self-aware, humorous approach ([09:26], Jack).
• Brand Context:
  • Axe is 43 years old, launched in France in 1983 (known as Lynx in the UK), and owned by Unilever ([08:00–08:12]).
  • Struggled in mid-2010s as teens moved on — sales fell 30%, market share dropped by a third ([08:57], Jack).
• The Brand Dilemma:
  • Whether to “grow up” with loyal millennial users or “stay the same age” by re-focusing on teens ([09:37], Jack).
  • Quote:
    “You can grow up with your audience, or you can try to stay the same age.” ([09:37], Jack)
  • Axe’s answer: Stay young, but adapt. Each teen generation is different — hence, the less-is-more bottle for Gen Alpha ([10:14–10:25]).
• Comparison to Harley-Davidson:
  Harley doubled down on aging boomers; Axe does the opposite: “There’s a reason you wore Axe to the bar mitzvah… but not your wedding” ([10:03], Jack).

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3. The “Sam Altman Bubble” Pops — And Why China Is the Real Threat

[10:40–15:07]

• Sam Altman’s Shift to “Human-Shaming”:
  • Sam Altman claimed AI isn’t the problem — “you pesky human beings are” ([11:18], Nick).
  • He’s defensive, shifting focus from AI’s resource use to humans’ own consumption.
  • Quote:
    “The face of American AI has resorted to human-shaming.” ([11:34], Nick)
• AI Business Woes:
  • OpenAI’s Project Stargate (a $500 billion data center vision) has stalled — no data centers built, deal with Nvidia and Oracle fizzled ([12:21–12:51], Jack).
  • Circular chip financing deal with Nvidia replaced by a standard VC investment ([12:58], Jack).
  • Meanwhile, competitor Anthropic is surging, with the “prettiest princess at the AI Ball” ([13:20], Jack).
• Despite Setbacks, OpenAI Still Gets Valuations:
  • About to close a $100B round at $830B valuation ([13:41–13:49]).
• China’s “Temu AI” Strategy:
  • All major Chinese tech firms launched new AI models at the Lunar New Year ([14:00–14:11]).
  • China’s models are “90% of the value for 10% of the price” ([14:27], Jack). Example: Airbnb would pay $1 million/month for Anthropic, but just $100,000/month for a Chinese equivalent.
  • Quote:
    “China’s new AI playbook? It’s the same as their old one: Flood America with a cheaper version of the stuff we already have.” ([15:01], Jack)
• Takeaway:
  • The old China playbook (from textiles to solar panels) is now being used in AI, creating a new challenge for American tech.

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4. Milan’s Olympic (and Economic) Gold: Winning Brexit’s Aftermath

[16:57–21:51]

• Record Olympics—But Milan is the Real Winner:
  • Milan hosted a successful Winter Olympics, but more importantly, emerged as a decade-long economic beneficiary of Brexit ([17:01], Jack).
• The Flat Tax Shift & “Cristiano Ronaldo Law”:
  • After Brexit, Italy introduced a €100,000 flat tax for wealthy foreigners moving to Milan — “music to oligarchs’ ears” ([19:39], Jack).
  • “Cristiano Ronaldo … only paid €100,000 in taxes. That’s less than 1% …” ([19:43], Jack).
• Financial and Startup Influx:
  • UK banks and businesses relocated traders to Milan to retain access to the EU, leading to a cascade — literally, “from Canary Wharf to the Corso” ([20:18], Jack).
  • VC and startups arrived, including Bending Spoons, which has become an $11B Milan-based tech leader.
• Milan’s Unique Position:
  • Combines fashion, finance, manufacturing, design — “the only place in Italy where you can see fashion models, financial models, and the original models of Ferrari” ([19:05], Nick).
  • Offers an exceptional lifestyle — mountains, lakes, and Riviera, all an hour away ([20:41], Nick).
  • Now has “Europe’s hottest housing market” ([21:03], Jack).
• Quote:
  • “Milan’s economy is going Gucci. London’s is looking a little more fuchi.” ([21:10], Jack)
• Takeaway:
  • “Finance is a zero-sum game. For every credit, there’s always a debit.” ([21:23], Jack)

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Notable Quotes & Memorable Moments

• On Hockey Injuries:
  “Yetis, the whole tooth and nothing but the tooth. I'm sorry, correction: teeth.” ([01:35], Nick)
• On Fragrance Overuse:
  “High school boys locker rooms…smelled like a New Jersey casino back in the day.” ([06:59], Nick)
• On Axe’s Evolution:
  “There’s a direct correlation between underconfidence and over fragrance.” ([08:44], Jack)
• AI Bubble Reality Check:
  “Sit down, stand up and spit out your LaCroix again. I’m sorry, Jack.” ([11:34], Nick)
• China’s Disruption Playbook:
  "Temu AI — 90% of the value for 10% of the price." ([14:27], Jack)
• On Milan vs. London:
  “We’ll swap a pint for a spritz and just say it: Milan won Brexit.” ([21:14], Jack)

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Additional Fast Facts, Mini-Stories & Takeaways

[22:05–22:39] - Podcast Takeaways Recap:

• Axe chases Gen Alpha, doesn't follow millennials.
• Sam Altman is more defensive, OpenAI faces real competition from low-cost Chinese AI.
• Milan is the economic winner of Brexit, as “in finance, for every debit, there’s a credit.”

[22:45–24:08] - Quick Hits:

• Trump raised tariffs from 10% to 15%; Supreme Court has not clarified matters.
• Burger King lets you call its president directly for complaints ([23:12]).
• Goldman Sachs launches an “AI-Free” stock index, trailing the S&P 500 ([23:47]).

[24:10–25:08] - Best Fact Yet:

• President Teddy Roosevelt set the handshake world record: 8,510 in one day ([24:57]).

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Timestamps for Important Segments

• [01:18] – Hockey & the “tooth recession”
• [06:07] – Axe Body Spray comeback story
• [07:34] – New Axe bottle & self-aware marketing
• [09:37] – Brand growth vs. target youth appeal
• [10:42] – Sam Altman bubble, AI culture wars
• [12:21] – OpenAI’s sidelined mega-projects
• [14:27] – China’s “Temu AI” strategy
• [16:57] – Milan’s Olympic & economic triumph
• [19:28] – The "Cristiano Ronaldo" flat-tax law
• [21:03] – Milan’s hot housing market, “Gucci” economy

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Summary Table — At a Glance

| Segment | Main Theme | Key Takeaway |
|---|---|---|
| Hockey Tooth Recession| Olympian heroics = dental losses | Hockey is the most dentally dangerous sport | | Axe's Comeback | Fragrance strategy for Gen Alpha | Stay young, but adapt with self-aware, lighter spray | | Sam Altman Bubble | AI vibes down, China rising | US faces “Temu AI” challenge — 90% value, 10% price | | Milan wins Brexit | Economic, real estate & lifestyle boom | Flat-tax & EU status turbocharged Milan post-Brexit |

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Final Thoughts

Nick and Jack continue to mix fun, facts, and business insight, making the episode perfect for business news fans who love a blend of pop, global trends, and morning oatmeal. Whether it’s hockey smiles (missing teeth and all), fragrance nostalgia, or the ever-shifting AI landscape, “The Best One Yet” delivers sharp, snackable business storytelling.

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Transcript

[A]

This is Nick, this is Jack. It's Tuesday, T Boy, Tuesday, February 24th. And today's pot is the best one yet. This is a T boy.

[B]

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

[A]

Let's start with the ugly stuff. Stocks tanked on tariff turbulence from President Trump. He jacked up his brand new tariffs

[C]

from 10% to 15%.

[B]

He hasn't taken our advice yet to use the Supreme Court's decision as an off ramp for his failed tariff policies.

[A]

Remember, Trump was tariff maxing and then he got legally mocked by the Supremes. But.

[B]

But then he turned him back on.

[A]

But he might change his mind if stocks keep tanking.

[C]

And we will hit our three fantastic stories.

[A]

What do we got, Jack?

[B]

For our first story, Axe Body Spray wingman, your high school makeout classic. But you're not in high school anymore,

[A]

so to get Gen Alpha, Axe Body Spray is taking it easy on the Axe Body spray.

[B]

For our second story, Sam Altman is so defensive about his AI right now, he just blamed you for drinking too much water.

[A]

The Sam Altman bubble has officially popped.

[B]

And our third and final story. The Winter Olympics are over, but the economic torch in the city of Milan is brighter than ever.

[C]

Because Jack and I think the biggest winner on the 10 year anniversary of Brexit is actually Milan.

[B]

But yetis before we hit that wonderful

[A]

mix of stories, I mean, Milan's the new London, Jack. Fantastic mix of stories. Love the mix, man.

[B]

We are still celebrating an epic finale for the US Men's hockey team.

[A]

I mean, Jack, I found a bar open at 5am in California to watch the game.

[C]

I haven't even slept since they won officially.

[B]

But it's not just what we won,

[A]

it's also what we lost because we lost the tooth. Yetis the whole tooth and nothing but the tooth. I'm sorry, correction, teeth.

[B]

We're talking about Jack Hughes. The player who scored the golden overtime goal, lost his two front teeth to win that game.

[A]

But Jack, the drama. He's rumored to be dating pop star

[B]

Tate McRae, who hasn't posted about his victory yet. She might be breaking up with him. Not because of his teeth though, because she's Canadian.

[A]

Either way, the kissing's getting awkward for those two.

[B]

But this is a reminder that hockey is by far the most dentally destructive sport that we have.

[A]

And we got the data to prove it.

[C]

According to the Journal of Canadian dentists, 31% of hockey players sustain an oral injury during their hockey career.

[B]

And if you narrow it to just the NHL, 60% of pro players lose at least one tooth in their career.

[A]

The other 40%, Jack.

[B]

They just haven't played hockey long enough. Nick.

[C]

Perfectly put, man.

[B]

And the reason why, I mean, in football you wear a face mask, right? In boxing, you wear a mouth guard.

[C]

But in hockey, leaving your mouth uncovered, that is called tradition, my friend.

[B]

It's absurd. You're not required to wear a mouthpiece.

[A]

The pucks are going 100 miles and you got the sticks flying in any direction. What about the fighting?

[B]

You don't get thrown out of the game. You just get a five minute penalty.

[A]

Yeah, you'd get through in jail if you did that off the ice, but otherwise you just end up in the penalty box.

[B]

Add it all up and there's more opportunities in hockey. To lose them all, you are statistically

[C]

more likely to be spinning the Chiclets.

[B]

Fighting at the Olympics. It's actually the least Olympic thing that they allow to happen at the Olympics.

[A]

Yeah, hockey, it's got a recession of grinders these days.

[B]

In fact, full disclosure, Nick's two front teeth. Check it out on YouTube. They're fake.

[A]

That's why they look good. I get compliments on them. Fake teeth knocked out by a stick.

[B]

His screen name used to be faceofguy22. Because he played hockey and got his teeth knocked out.

[A]

Jack had to drive me to the plastic surgeon after that.

[B]

It's true.

[C]

Yeah.

[A]

You lose three front teeth, you see a surgeon, you don't see a dentist.

[D]

Jack.

[A]

Best thing that ever happened to my face. Honestly, they're better than the original ones.

[D]

Jack.

[A]

Let's hit our three stories.

[E]

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.

[B]

50%.

[E]

That's a fat tip. T boy city on your at list. If you know, you know. Cause we ready to go. We can't wait no more. So just start the show. Start the show.

[A]

First, a quick word from our sponsor, Manus AI Yetis. So when are we using AI when

[C]

we're jumping in T Boy style to some research.

[B]

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

[A]

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

[B]

No. AI Slopper out. No.

[A]

So Jack and I are pumped to tell you about Manus AI the hot new AI agent.

[C]

That does more than just answer your questions.

[B]

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

[C]

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

[B]

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

[A]

Or you could ask Manus to launch

[C]

an e commerce shop for you.

[B]

Boom.

[A]

You're Anna Wintour.

[B]

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

[C]

Oh, by the way, Manus means hands in Latin.

[A]

Because like hands, Manus is pretty darn useful to humans.

[B]

And you can get your hands on Manus AI for free.

[A]

Visit Manus im tboy to get started with Manus and some T boy special credits.

[B]

That's Manis Im tby

[A]

Yetis Jack had

[C]

a lifelong dream of owning a ski house.

[A]

But then he married a skier who's better at skiing than him, which put

[B]

the pressure on to really own a ski house.

[A]

Okay, but still, ski house is very expensive.

[C]

So what helped make Jack's dream doable? Airbnb.

[B]

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

[C]

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

[B]

President's Day weekend coming up.

[C]

Nick, A lot of people want to go skiing, Jack.

[B]

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

[A]

Four adults, four children from just outside Boston.

[C]

Boom.

[A]

They just booked a stay on Jack Chalet.

[B]

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

[A]

Besties. Your home might be worth more than you think.

[C]

Find out how [e-mail] host

[A]

for our first story. Axe Body Spray just revealed its comeback plan.

[C]

Same product, just much less of it.

[B]

But should Axe grow up with its original millennial customer or should it try to stay a teenager forever?

[C]

Jack and I will answer that question. But first, Yeti strange story you may remember we did last year, right? Jack? Do you remember this one?

[B]

Fragrance sales are at all time highs, but the buyer would surprise you.

[A]

Yeah, something smelled off about this teen BO are driving a perfume boom, baby.

[B]

The trend is Called Smell Maxing. Teens are putting on multiple fragrances per day, different scents for different body parts,

[C]

and one brand in particular. They're feeling the FOMO in this Smell Maxing era.

[B]

Axe Body Spray. You smell it before you see it.

[A]

Oh, Axe. I mean, Jack, that's gotta be the OG of Smell maxing, right?

[B]

I mean, me plus high school plus head to toe, under armor plus Axe Body Spray. Watch out, middle school dance floor.

[A]

Smell ya before I see you, Jack. High school boys locker rooms. Yeah, they smelled like a New Jersey casino back in the day.

[B]

Because Axe body spray is a chemical weapon.

[A]

But here's the news.

[C]

Axe is back. Well, actually, Axe never really left, right, Jack.

[B]

Unilever announced in 2022 that Axe was the biggest men's fragrance brand in the world.

[C]

But here in the us, Axe has a new plan. Less is more.

[B]

They have a new bottle that's 25% smaller than the original bottle, but still somehow does 10% more spray applications.

[C]

And here's the key. The result is that each spritz is less Axe.

[B]

They're killing the Axe cloud with a more controlled, limited spray. So you don't overdo it on yourself.

[A]

Basically, Jack the pitch.

[C]

No longer will you drown a potential mate in an aerosol vape cloud.

[B]

They're helping you help yourself with a bottle that will spray Less Axe on you.

[A]

Yeah, you don't want to ruin the prom. But to sprinkle on some context here, as a couple of ex Axe users,

[C]

Axe is actually more mature than you realize when you jump in t boy style.

[B]

Get this. The Axe brand is actually 43 years old, it's French, and it's owned today by a European company, Unilever.

[C]

They actually launched axe back in 1983 in Paris. Tres romantique. It's possible.

[B]

Then they expanded to the UK under the name Lynx, because that sound effect

[A]

was a big hit at the British boarding schools.

[B]

Then finally, in the year 2002, they launched in the United States, just in time for Nick's and my millennial puberty and for some controversially racy ad campaigns.

[C]

Ten years later, we hit peak Axe. 500 million bucks in sales. Billion dollar valuation. Number one in the category with 24% market share.

[B]

One out of four boys were spraying their chest with a scent of Axe every morning.

[A]

Because Bestie's research shows that men under 18.

[C]

There's a direct correlation between underconfidence and over fragrance.

[B]

The more Axe Body spray you use, the more confident you feel.

[A]

Okay, but.

[C]

But here's the problem. In the mid-2010s. Axe lost its dominance, right, Jack?

[B]

Its market share fell by a third and sales fell by 30%.

[C]

You see, Axe was the king of the undercarriage, but now it was losing teens.

[B]

So here's their comeback strategy. Axe is making fun of itself.

[A]

That's the point of that new small bottle with less Axe spray.

[B]

They actually have like a five minute wait period after one spritz. You have to wait five minutes to spritz again.

[A]

Do they actually hate to. No, that's a joke. Okay, let's go. Well, Axe is a acknowledging here that you used too much Axe. You basically over axed.

[B]

So they've engineered the product so you don't overdo it.

[A]

No more sexualized ads. The new ones are all about having

[C]

fun and making fun of the Axe stereotype.

[A]

So, Jack, smells like our takeaway. What's the takeaway for our buddies over at X?

[B]

You can grow up with your audience or try to stay the same age.

[C]

Now, yetis, last year, Jack and I

[A]

did a whole episode of the Best

[C]

Idea yet on Harley Davidson on how the bike company was ignoring millennials and just focusing on aging boomers.

[B]

Harley is a company that decided to grow. They were selling bikes to boomers when they were 40, and now they're selling bikes to boomers when they're 80.

[C]

But interestingly, on the opposite end of the spectrum, we've got Axe. They didn't grow with their millennial audience.

[B]

You see, there's a reason you wore Axe to the bar mitzvah or the middle school dance, but not to your wedding.

[A]

Yeah.

[C]

Instead of growing with their audience, Axes staying the same age, they remained focused on teens.

[B]

Here's the catch. If you're gonna focus on the same age, you need to adapt to the newer generations.

[A]

Exactly, Jack. You got to adapt.

[C]

From millennial teens to Gen Z teens to Gen Alpha teens, each one is slightly different.

[B]

And that's what this new mini spray bottle can does. It adapts to the Gen Alpha teen who's not protecting this house.

[A]

Because besties. You can grow up with your audience,

[C]

or you can try to stay the same age.

[A]

For our second story, we can say

[C]

with certainty this week that the Sam Altman bubble has popped.

[B]

But it might not even matter, Nick.

[A]

Yeah, it may not even matter, Jack,

[B]

because OpenAI's bigger threat isn't Gemini, Microsoft, Zuckerberg or Anthropic.

[A]

Yeah, yeah.

[B]

It's something very different.

[C]

Is it Temu AI, Jack?

[B]

It's Temu AI, Nick.

[A]

Jack, could you please take us back?

[C]

828 days ago, I believe that was November 23rd. What was going on? My friend.

[B]

That's when OpenAI suddenly fired Sam Altman for being, and I quote, not consist, candid in his communications with the board.

[A]

Well, Jack, how's this for candid? Last week, Sam Allman said that AI is not the problem, you pesky human beings are.

[B]

He said that AI actually doesn't use much energy and water compared to the hog. Human beings, which use tons of energy and water.

[A]

Sit down, stand up and spit out your LaCroix again. I'm sorry, Jack. The face of American AI has resorted to human shaming. Yes, he has. Dad sees, if you're enjoying a Stanley Quencher mug right now, you're part of the problem.

[B]

Sam Altman also said last week that there's been more resistance to AI and culture and the economy than he expected.

[A]

Probably because of those comments that humans eat too much food and we breathe too much air.

[B]

I can't believe he's shaming us. That's his PR strategy.

[A]

One sec.

[B]

Just trying to hold my breath on this one. So, Yetis, everybody's been wondering for, like, a year or 2 Now whether AI is a bubble. Is Sam Altman's defensiveness a sign that people. Maybe it is.

[A]

Feels like the water comment. Maybe Pete Galtman.

[C]

But besties, it's not just that Sam's mojo has popped. What we find fascinating is that, if you're keeping track, his business ventures are kind of starting to pop, too.

[B]

The information reported on Sunday that OpenAI's Project Stargate has gone nowhere in 13 months.

[C]

Yeah, could you sprinkle on some context for us, please?

[B]

The day after President Trump was inaugurated last year, Sam Altman went to the White House and announced a $500 billion data center project based on our research.

[C]

The biggest, most expensive project. It kind of looks like a Star wars planet.

[B]

But now he's squabbling with his partners, Nvidia and Oracle, over who's going to pay for what. No data centers have been built, and there's no path forward for Project Stargate.

[C]

Speaking of Nvidia, Jack, remember that deal to give OpenAI 100 billion bucks so that OpenAI could then buy Nvidia chips?

[B]

That deal's been canceled, too, Nick. It has. It's been replaced by a standard VC investment from Nvidia into OpenAI.

[A]

So, besties, add it all up.

[C]

And two of the biggest stories about AI Last year, Stargate and OpenAI's circular deal with Nvidia, all both effectively canceled.

[B]

The announcements got tons of fanfare.

[A]

Yeah, they did.

[B]

The cancellations have died quietly, but they're equally important.

[C]

Plus, Jack paws the pot. On top of all that, the prettiest princess at the AI Ball these days is Anthropic, is it not?

[B]

They won the Super Bowl. They launched Claude Code, which everyone's talking about. Anthropic seems to be the one getting Wall Street's glass slipper.

[A]

Gonna make a Disney movie out of anthropic. Still though, OpenAI is on the verge of closing a $100 billion funding round

[C]

at a 830 billion dollar valuation, which

[B]

I think would be an all time record for any private company ever.

[A]

So Sam's vibes may be looking poor,

[C]

but his balance sheet, oh, it's still rich.

[A]

So, Jack, what's the takeaway for our water drinking buddy, Sam Allman?

[B]

Meet China's new Playbook. It's the same as their old Playbook.

[C]

Yetis funny thing we noticed. To celebrate the start of the Lunar New Year, all the Chinese tech companies launched their new AI models.

[B]

Alibaba, ByteDance, Deep Seq. They're basically our Amazon Meta and OpenAI.

[C]

And whatever those Chinese AI models lack in tech, they might make up for in price.

[B]

Because yetis get this, China's best AI models are available to Americans and US companies for 1 10th or 1 20th the price of the leading American versions.

[C]

I'm sorry, Jack. 90% of the value for 10% of the price. I mean, that is China's Playbook to beat the US.

[B]

If Airbnb is paying a million dollars a month for Anthropic, a Chinese version is just $100,000 a month.

[C]

Yeah, what this Playbook is, is we call it Temu AI.

[A]

And we've seen it before.

[B]

China did this back in the 80s to America's textile industry, then to our furniture industry, then footwear, toys, electronics, solar panels, electric cars.

[A]

And now China's doing it to AI.

[C]

That's what CEOs, investors, policymakers, that's what they should be focused on. That's what they should worry about.

[B]

China's new AI Playbook. It's the same as their old ones. Flood America with a cheaper version of the stuff we already have.

[A]

Or as we call it, Temu AI. Now, a quick word from our sponsor,

[C]

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I had no idea what it was, Jack.

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For our third and final story, Milano

[A]

didn't just win the Olympics.

[C]

We think Milan also won something way bigger.

[B]

Because after 10 years, a huge winner of the Brexit vote is Milan, Italy.

[C]

But besties, let's start this story with the scoreboard. Jack.

[A]

I'm whipping out the whiteboard over here, Tim.

[C]

USA. I'm seeing a record 33 medals, 12 gold.

[A]

Not too shabby.

[B]

And if you remove King Klebo, that Norwegian wunderkind of Nordic skiing, then we actually tied with Norway at 12 golds each.

[A]

Not too shy. Just like a round of applause for Team USA over here. Here we go, guys.

[B]

And the two hockey golds at the end was just insane.

[A]

Norwegians fast on snow, not as fast on ice. But besties.

[C]

Jack and I would argue that the goldiest of gold medals should actually go to Milan, the capital of Aperol.

[B]

This was the biggest moment for the city of Milan since Leonardo da Vinci's last supper.

[A]

Yeah, if you know, you know now some hate was going Milan's way. Going into these games, everyone was wondering,

[B]

like, are these Italians going to be able to fix the hockey arena so that hockey can be played there on time?

[A]

Barely was the answer, by the way. But it looked good. Yeah.

[C]

And Jack, so were the mountains, which look fantastic. I mean, the only thing that didn't land was the stuffed animals given to the silver medal winners.

[B]

Why give a bronze medal winner a little stuffed animal of some obscure animal?

[C]

But besties. What the triumphant Milan Cortina Olympics really highlight to us is one decision made a decade ago, the decision of Brexit.

[B]

That's right. Britain's populist decision to exit the European Union ten years ago was a gift to Milan.

[A]

And we got the data that'll make

[C]

you choke on that Panettone. But yetis to sprinkle on some context here. American tourists, they don't go to Milan like they go to Rome, Florence or Amalfi. Right, Jack?

[B]

Only Nick goes to Milan. Cause he studied abroad in Italy.

[C]

And I did some work that I

[A]

can tell you Milan is basically, and this isn't an insult to Italians, Milan is basically Italy's only modern European city

[B]

up there with London, Paris and Amsterdam.

[A]

Right, Exactly.

[C]

And what makes Milan fascinating and unique is that it's not a one industry town.

[B]

Milan is Italy's home of fashion, of design, of finance, of manufacturing, all in one city.

[A]

The way to think about it is Milan is the only place in Italy where you can see fashion models, financial models, and the original models of Ferrari.

[B]

And right after Brexit, Milan said to itself, hey, we're not getting the respect on the world stage we deserve, but maybe Brexit's an opportunity. So they made a strategic decision that kind of robbed Peter to pay Pietro.

[C]

You see, in 2017, Italy introduces the flat tax. And what's that, Jack?

[B]

No matter what your income, they welcomed foreigners to come to Milan. And you'll only pay €100,000 in taxes.

[C]

This law became known as the Cristiano Ronaldo law.

[A]

And interesting reason why, I think he

[B]

had like $100 million salary, right?

[C]

Yeah.

[B]

And he only paid €100,000 in taxes. That's less than 1% because he was

[C]

playing soccer in Italy now, yet he's that flat max tax for rich people

[A]

doubled to €200,000 in 2024.

[C]

But still, it was music to oligarchs arrears who feel unwanted in a post Brexit Britain.

[B]

So that's why the billionaires came to Milan. But why did businesses come to Milan?

[C]

Well, Jack, those businesses still needed to be within the European Union and the euro area for visa tariff and customs reasons.

[B]

Goldman Sachs, Citibank, JP Morgan, they all moved London based traders to Milan to be within the European Union.

[C]

From Canary Wharf to the Corso. And those banks attracted venture capitalists who attracted startups like. Have you ever heard of the business Bending Spoons?

[B]

I hadn't until recently when they acquired AOL Vimeo Eventbrite Evernote Bending Spoons is now an $11 billion company based in Milan.

[C]

But within the European Union, Milan's competitive advantage is its lifestyle.

[B]

Get Nick's like a travel agent from Milan. At this point, Milan is one hour from beautiful Lake Como where James Bond was in Casino Royale. It's one hour from the Alps where the Olympics just happened. And it's one hour from your dream honeymoon on the Italian Riviera.

[A]

What you're saying, Jack, is that after your morning espresso, you could go skiing, you could go swimming, you could go

[C]

shopping all in one day.

[B]

And the result? Now Milan has Europe's hottest housing market, according to the Wall Street Journal.

[A]

And they just stuck the landing on the Olympics.

[C]

Basically, Milan's economy is going Gucci. London's is looking a little more fuchi.

[B]

That's why we'll a pint for a spritz and just say it. Milan won Brexit.

[A]

Jerto. So, Jack, what's the takeaway for our

[C]

buddies over in Milan?

[B]

Finance is a zero sum game. For every credit, there's always a debit.

[A]

Yetis, we got more receipts here.

[C]

London's unemployment rate, it's actually up from 10 years ago. While Milan's is down.

[B]

Milan wasn't the only beneficiary of Brexit. London's mayor said that Brexit cost London 40,000 banking jobs. A lot of those went to Dublin, Luxembourg, Paris, Frankfurt and Amsterdam too.

[C]

But as London's finances, financial industry and real estate lost value from Brexit, Milan's gained the most.

[B]

So what we learn here is that what's true on financial statements is also true in the finance industry.

[A]

For every debit, a credit. For every buy, a sell.

[C]

For every asset, a liability.

[A]

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

[B]

Tuesday. Unilever's Axe Body Spray is adapting to today's teens with a bottle that will reduce the flow.

[A]

Axe, they're not growing with its OG millennial customer, us.

[C]

They're adapting to the gen Alpha teen.

[B]

For our second story, Sam Altman' more defensive than ever as his business hits speed bumps.

[A]

Put down that Lacroix over there. Jack, no more spindrift for you. But his biggest competition ain't anthropic.

[C]

It's Chinese AI. That is 90% as good. For 10% the price, it's Temu AI.

[B]

And our third and final story is Milan, the true winner of the 2026 Olympic Games. But give the assist to the Brexit

[A]

vote, because in finance, for every debit

[C]

there is a credit.

[A]

But besties, this pod's not over yet.

[B]

Here's what else you need to know today.

[C]

First, as we mentioned at the top of the pod, Trump raised the 10% that he announced on Friday to 15%. His response to the Supreme Court is more tariff maxing.

[B]

That's why the Supreme Court's decision didn't provide clarity, just more uncertainty.

[A]

Yeah, the status of tariff refunds and

[C]

deals reached with foreign countries. Those are still both huge questions.

[B]

Tonight he'll do the State of the Union, where the Supreme Court justices that he calls disloyal will be seated right in front of him.

[C]

And second, Burger King just launched a phone number to call their president directly with complaints.

[A]

True story.

[B]

The commercial said flame grilled. I went in there, I didn't see a flame anywhere. Was this just microwaved? What's going on?

[A]

I wanna speak to a manager. I wanna speak to the president. Get this, the number's 305-874-0520. And the President of Burger King will be taking calls four hours a day for the next two weeks.

[B]

Yeah. Not 24 7. Not by any means.

[A]

Yeah, it's kind of a message to the whole Burger King team.

[C]

If we mess up. Guys, I'm gonna hear about this.

[B]

And finally, Goldman Sachs just launched an AI Free Stock Market Index.

[A]

Yeah, it's a Luddite fund. The old economy. Stocks only. Basically, the stock stuff your dad would have invested in 50 years ago, that's this.

[B]

This X AI index is only up 32% in the last three years. It massively trails the S&P 500.

[A]

Okay, but here's the pitch. If AI is a bubble, then this

[C]

anti AI fund could win the next few years. This is a hedge.

[A]

Now, time for the best fact yet.

[B]

This one.

[C]

An answer to Monday's T boy trivia.

[A]

Jack, are you ready for this?

[B]

Yeah. What was the question again?

[C]

Question was, which American president holds the record for most handshakes ever given? Who was the president and what was the number of hands?

[B]

It was President Teddy Roosevelt. And the reason it makes sense is not just that he's an affable Guy who loved like interacting with people. This man Nick, I'm reading a book about him right now. He held so many offices. The number of hands he must have shaken is unreal. He was a state representative for New York. He was the police commissioner for New York City. He was the secretary of war. He was the governor of New York. He was the vice president and the president for two separate terms. Can't wave.

[A]

Those are all handshake positions. In fact, one day at the White House in 1907, T.R.

[C]

shook 8,510 hands.

[B]

A presidential record that's also a journalistic record because someone must have counted all those handshakes.

[A]

If any CEOs out there want to beat the record, 8511.

[C]

It's your gain.

[A]

Yetis.

[C]

You are looking fantastic for t boy Tuesday.

[A]

Jack, you are glowing before the flight. Actually, I'm going to the airport in the in like 10 minutes. I gotta upload the files for the pod. I'm Austin bound as well.

[B]

I'm actually dropping the family off in Florida before going to Austin so I have a lot of flights to check into right now.

[A]

You're points maxing right now, aren't you? I am, I am.

[B]

But I'm also bringing my dog and they don't do frequent flyer miles yet.

[A]

It's a write off.

[C]

There we go.

[A]

We'll figure it out. Besties, we can't wait to see you for the live show this week in Austin. In the meantime, holding off on the

[C]

water to celebrate the wins.

[A]

And before we go, a Happy birthday to YETI's Alexandra Tunney and Ben Tunney in Greenwich, Connecticut.

[C]

Back to back sibling birthdays up there.

[B]

Happy birthday to Tam Shoyer in New

[A]

York City and Tomas Moreno.

[C]

Enjoy the birthday down in Jacksonville, Florida. That seventh one, that's a fantastic one.

[B]

Happy birthday to Vishnu Morale in Boston,

[A]

Massachusetts just outside Boston and Crystal Kafati.

[C]

Enjoy the birthday down in Honduras.

[B]

Happy birthday to Ellie Sainan who's playing Pearl the octopus in the school play and having the best birthday yet in Bristow, Virginia.

[A]

In Albert and Veronica we see your anniversary in San Juan, Puerto Rico.

[B]

Enjoy the selling and congratulations to Kath tomer crushing the 2026 SASS sales competition just outside Boston and having a baby.

[D]

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