🦸‍♀️ “MAMA Stocks” — Zuck’s Ad/AI machine. Hilary Duff’s anti-Ozempic bet. Bill Ackman’s Influencer IPO. +Refresher surge

Summary

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The Best One Yet — Episode Summary

Podcast: The Best One Yet
Hosts: Nick & Jack (Nick Martell & Jack Crivici-Kramer)
Episode Title: 🦸‍♀️ “MAMA Stocks” — Zuck’s Ad/AI Machine. Hilary Duff’s Anti-Ozempic Bet. Bill Ackman’s Influencer IPO. +Refresher Surge
Date: April 30, 2026

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Episode Overview

In this lively “TBOY” episode, Nick and Jack serve up a brisk, entertaining, and insightful breakdown of this week’s most important (and quirkiest) business stories. With a playful, conversation-driven format, the duo keep things sharp and relatable as they explore:

• The incredible financial engine that is Meta (formerly Facebook) and its AI ambitions
• Hilary Duff’s strategic bet against the “Ozempic” weight loss trend by championing strength training
• Bill Ackman’s bold move to IPO his hedge fund as the first “influencer stock”
• Plus a look at the “refresher” beverage craze sweeping the country, and a handful of quick, high-profile business updates

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Key Stories & Discussion Points

1. Meta’s Financial Juggernaut & AI Ambitions

[05:31 – 10:11]

• Earnings Blowout: Meta, along with Amazon, Microsoft, and Alphabet (“MAMA” stocks), reported earnings—but the spotlight’s on Meta. Revenue surged 33% YoY, with Q1 profits at $27 billion (more than McDonald’s annual revenue).
  • “Meta is the most profitable company in history that you’ve never paid a dollar to.” — Jack [06:12]
• Unprecedented Attention: 3.6 billion users on Meta’s apps, with time spent on Instagram videos up 19%. A rare dip in users was caused by an internet blackout in Iran.
• Ad Machine + AI: Meta’s profit engine? A multiplying effect of user and advertising metrics. Ad impressions grew 17%; ad prices up 19%. Meta helps small businesses target hyper-specific audiences with increasingly smart AI-driven ads.
• AI Investment:
  • “Things are so good right now, Zuck has an AI budget that could buy the Detroit Big Three car companies.” — Nick [05:40]
  • Meta is spending $135 billion this year on AI data centers (enough to buy Ford, GM, and Chrysler).
• Takeaway:
  • “The most efficient ad machine ever is funding the most ambitious AI machine ever.” — Jack [10:06]

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2. Hilary Duff, Ladder, and the Anti-Ozempic ‘Strong over Skinny’ Movement

[10:11 – 13:47]

• Duff Effect: Hilary Duff is having “a throwback millennial moment” (first concert tour in decades, new investments). She’s now backing Ladder, a top fitness app emphasizing strength training over weight loss.
  • “Stronger beats smaller. Here’s the bet: Building muscle will be the new fitness aspiration, because no pill can magically do that.” — Jack [12:34]
• Ozempic Context: As affordable weight loss drugs (GLP-1s like Ozempic) boom and “thin” becomes accessible, “strong” becomes the new aspirational target nobody can shortcut with a pill.
• Business Physics:
  • “For every action, there is an equal and opposite reaction.” — Jack [13:07]
  • Anti-trend logic: AI vs. hand-crafted, dating apps vs. IRL meetups, skinny vs. strong.
• Takeaway:
  • “If you want to understand business, understand physics... For every trend, there’s an equal and opposite anti-trend.” — Jack [13:17]

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3. Bill Ackman’s Influencer Hedge Fund IPO: The Modern Berkshire Hathaway?

[15:44 – 20:03]

• IPO First: Bill Ackman brings Pershing Square public, positioning it as the “influencer” version of Berkshire Hathaway, inviting everyday investors to buy into his hedge fund stock picks.
• Social Financier:
  • “Bill Ackman thinks he’s as much of an influencer as Hailey Bieber.” — Nick [17:45]
  • His prolific tweeting is cited as an asset in the company’s IPO paperwork; his personal brand is core to the company.
• Performance & Pitch: Has outperformed the S&P threefold since 2020 by timing major crises—but the market did not initially bite (stock dropped 18% on day one).
• Skepticism:
  • Academic research suggests hedge fund outperformance is rarely persistent, making Ackman’s record either genius or luck.
• Takeaway:
  • “An investment in Pershing is a bet that lightning will strike a fourth time.” — Nick [19:04]

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Memorable Quotes & Moments

• “It’s like an iced tea and a LaCroix had a baby raised by Jamba Juice in a sorority house.” — Jack [01:23], on the “refresher” drink craze
• “Meta is the most profitable company in history that you’ve never paid a dollar to.” — Jack [06:12]
• “Stronger beats smaller...building muscle will be the new fitness aspiration, because no pill can magically do that.” — Jack [12:26]
• “For every action, there’s an equal and opposite reaction.” — Jack [13:07]
• “This is the first ever influencer hedge fund IPO inspired by Warren Buffett.” — Nick [18:25]
• “Does that make him [Ackman] a genius or just three times he got really lucky? That’s the $5 billion question.” — Jack [19:55]

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Notable Segment Timestamps

• Refresher Market Craze: [01:12 – 02:41]
• Meta Earnings/AI Deep Dive: [05:31 – 10:11]
• Hilary Duff / Ladder / Strong over Skinny: [10:11 – 13:47]
• Bill Ackman’s Pershing Square IPO: [15:44 – 20:03]
• Rapid-fire Business Updates: [20:46 – 21:55]

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Rapid-Fire Business Updates

• Jerome Powell wraps last press conference as Fed Chair; Kevin Warsh up next [20:50]
• Most expensive US home (LA) hits the market at $400 million [21:19]
• Venmo possibly for sale after PayPal spins it off [22:03]

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Style & Tone

Nick and Jack keep the conversation witty, enthusiastic, and breezy with banter, pop-culture references, and running in-jokes (“It’s a TBOY”, “mama stocks”, and deep dives on Justin Timberlake Day). Their commentary is insight-rich, yet always grounded in real-world business lessons and practical analogies.

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TL;DR

• Meta is using its digital ads dominance to fund the world’s most ambitious AI build-out.
• Hilary Duff is betting “Strong is the new Skinny” as fitness pivots away from weight loss drugs to muscle building.
• Bill Ackman launches the first “influencer hedge fund stock,” asking if lightning can strike a fourth time for his winning streak.

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For Listeners Who Missed the Episode

This episode serves as a punchy business briefing, giving you talking points for your morning oatmeal ritual—or your next strategy meeting. The focus: how tech giants, wellness trends, and even superstar financiers are shaping (and being shaped by) the culture and counter-culture of 2026.

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Transcript

[A]

This is Nick, this is Jack.

[B]

It's Thursday, the new Friday, April 30, and today's pod is the best one yet. This one is a T. Boy, the

[A]

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

[B]

Well, happy national Justin Timberlake day to all those who celebrate out there.

[A]

Because today is the last day in

[B]

April, which means tomorrow it's gonna be May.

[A]

Although I'm team Britney, so this is just so typically May.

[B]

Either way, we are bringing three sexy stories back to the pod. Jack, what have we got on the T?

[A]

For our first story, it's the mama stocks Meta, Amazon, Microsoft, and Alphabet all reported earnings yesterday after hours.

[B]

That's the quad squad of big tech, baby. And we're focused on one guy and one guy only. Zucky, Zuck, Zuck, Zuck.

[A]

For our second story, Hilary Duff is investing in Ladder, America's biggest, hottest strength training app.

[B]

Because the next wellness trend is anti ozempic strong over skinny.

[A]

And our third and final story is Bill ackman. He has 2 million followers on X. He's the most outspoken man in finance,

[B]

and he just IPO'd the first ever influencer hedge fund stock. Never thought we'd say those words.

[A]

But yetis, before we hit that wonderful mix of stories, I mean, we told

[B]

you it's the best mix we got yet.

[A]

Justin, one new drink is dominating America from sea to thirsty sea.

[B]

Behold the refresher.

[A]

The flavored fruit drink with big, bright, beautiful color energy.

[B]

Ah, the refresher. It's like an iced tea and a Lacroix. Had a baby raised by Jamba Juice

[A]

in his sorority house.

[B]

I'm sorry, are those chunks of strawberry in here? I almost choked on something.

[A]

Yes, they are. And they're clogging your straw. Get this, Yetis. Last year, Starbucks actually sold $2 billion worth of refreshers.

[B]

Darlene Duncan says refreshers are now their growth driver. Up double digits in the last year.

[A]

McDonald's is launching their first six refreshers

[B]

next week because Taco Bell just promoted the refresher to the permanent menu.

[A]

In this economy, the 2pm mango dragon fruit refresher is your affordable splurge.

[B]

So women 16 to 35 are pounding refreshers the most these days, is that right? Well, my sister just shotgunned one. She sent me a pic.

[A]

But according to cnn, none of those beverage chains can decide what exactly a refresher is.

[B]

Yeah, like here's the strategic problem. The refresher is a category defying drink.

[A]

It's not an iced tea, and it's not an iced coffee.

[B]

No, but, Jack, it's not a soda and it's not a juice. Nor is it a seltzer.

[A]

So what is a refresher?

[B]

What is it, Jack? I don't know.

[A]

Like cronuts, emotions, a situationship.

[B]

The refresher cannot be defined.

[A]

My best shot at defining a refresher. Yeah, Jack, it's for when you need an afternoon pick me up. But you don't want caffeine, so you need that dragon fruit energy.

[B]

Jack, that's not a definition. That's a picture paragraph right there.

[A]

We want to hear from you. What is a refresher?

[B]

That which cannot be defined. Drop it in the comments. And Jack, what's the three stories?

[C]

Fifteen years before this song, two boys from the Northeast met in a dorm. They had an idea to cause a cultural storm. It's the best one yet, but the best is the norm. Jack. Nick, that's it. I don't even think they need to practice. 50%. That's a fat tip. T. Boy City on your at, Liz. If you know, you know. Cause we read to go. We can't wait no more so just

[B]

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

[A]

Monarch. All right.

[B]

Yetis, you're never gonna be able to guess how many accounts Jack has linked to monarch.

[A]

31.

[B]

Are there even that many, like, financial products out there? Yetis, he's got credit cards, checking accounts, brokerage Accounts, Retirement Accounts, 529 College savings

[A]

accounts for each kid. And my nieces and nephews. Nick.

[B]

Okay, I'm rounding up. Does that get us to 31?

[A]

Where are my mortgage, my house, the car I own? They're all linked. And all their values in Monarch.

[B]

You see, besties. Jack actually linked everything to Monarch one year ago during a little bit of spring cleaning.

[A]

Until I used Monarch, I had a very messy, very chaotic spreadsheet. But now they're clean, synced, and automatic.

[B]

Basically, Jack went full Marie Kondo on his finances. And he did it with Monarch, which can do your financial spring cleaning for you.

[A]

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[A]

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[A]

That cerulean monologue, oh, that was so good. Silk runs through her veins, Nick.

[B]

Her blood type is cashmere. Jack.

[A]

If you're hiring, you want a candidate who's passionate about your role. But you can't get that insight from a resume unless you post your job in ZipRecruiter.

[B]

And now you can try it for

[A]

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[B]

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[A]

Instead of waiting for someone to find your job listing, ZipRecruiter does the finding for you, searching through its database of millions of job seekers.

[B]

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[A]

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[B]

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[A]

Try it for free at ziprecruiter.com tboy that ziprecruiter.com tBoy Meet your match on ZipRecruiter.

[B]

For our first story, Zuck just announced consumers, businesses and Ray Ban smart glasses wearers are using Meta more than ever.

[A]

Things are so good right now. Zuck has an AI budget that could buy the Detroit big three car companies.

[B]

But yetis. Let's start with the context here. $4 trillion tech companies all announced earnings yesterday at the same time, same day.

[A]

Metta, Amazon, Microsoft, Alphabet. The mama stocks.

[B]

Ah, the mama stocks. You got to love them, just like your mom.

[A]

And we actually prefer the Quad squad.

[B]

Yeah, that works well, too. Mama Quads got. Or the Fantastic Four floppy disk. Take your pick, Eddie.

[A]

But we honed in on Meta because this is the most profitable company in history that you've never paid a dollar to.

[B]

Jack, I'm sorry, can I pause the pod? You repeat that line?

[A]

Because I kind of love is the most profitable company in history that you've never paid a dollar to.

[B]

That's right. And they just announced Q1 earnings. That revenue rose 33%. That's the fastest pace since 2021.

[A]

And profits hit $27 billion in just one quarter.

[B]

Okay, Jack. 27 billion in profits in one quarter. That's bigger than.

[A]

That's more profits in one quarter than McDonald's revenue for the whole year.

[B]

And why is that?

[A]

Because there is no limit to the amount of attention that we will give Zuck's apps.

[B]

That's right. The number of humans on Meta's apps is 3.6 billion. Everyone with a phone, Internet access, and no censorship, basically.

[A]

Although users actually dipped for Meta last quarter. Super unusual.

[B]

True.

[A]

It's because of Iran. The Internet black out there meant the 90 million people in Iran didn't log in.

[B]

Either way, in the last quarter, we all spent 19% more time watching videos on Instagram than we did before.

[A]

Meta is Metamaxing on itself.

[B]

Well, besties, that's the consumer side of Zuck's business. But again, we consumers, we don't actually pay for any of Meta's products, which

[A]

is where the advertisers come in. Aha.

[B]

And the data here, ad impressions on Meta are up 17% and the price per an ad is up 19%.

[A]

You see, Meta's business is basically one huge multiplication. Like take three user metrics and three advertising metrics, multiply them all together and you get the revenue growth rate, which

[B]

last quarter was a whopping 33% for Meta.

[A]

And Meta did it all with fewer employees, although they are paying one employee $100 million a year.

[B]

Yeah, that would be Alexander Wang, the head of Meta's AI division. He's getting a little bit of that. If, you know, you think of it this way.

[A]

Eddies OpenAI sells ChatGPT for 20 bucks a month. So you can ask it, what's this thing on my thigh? Without going to the doctor.

[B]

Hey, Sam Altman, what is this thing on my thigh?

[A]

Meta is using AI completely differently. They're using AI to help small businesses buy ads on Instagram. Yeah.

[B]

For example, Yetis. Let's say you're a dog friendly Austin coffee shop and you want to grow your business. How would you use MetaJack?

[A]

Well, you could let Meta's AI analyze your customers and then use Meta's AI to generate some scroll stopping creative copy for your ad on Instagram.

[B]

That's right. So Meta's AI would both target and create an ad for millennial cockapoo moms who are working from home within seven miles of Austin. It would do it.

[A]

And boom, you just tripled foot traffic to your dog friendly Austin coffee shop.

[B]

You see, AI has now made these Meta ads smarter and more likely to find customers interested in the ad.

[A]

Yes, Zuck hopes that someday Meta AI will be used by consumers, perhaps built into smart classes.

[B]

But in the meantime, Meta AI is being used right now by 15 million small and medium sized Businesses who buy ads on Instagram and Facebook and want those cockapoo mamas. So, Jack, what's the takeaway for our buddy Zuck with this insane earnings report?

[A]

The most efficient ad machine ever is funding the most ambitious AI machine ever.

[B]

Yetis the question going into this earnings season wasn't whether Meta was gonna beat expectations, right, Jack?

[A]

They've done that 14 quarters in a row, Nick.

[B]

No, no, no, no, no. The question was whether Meta would increase their budget for capex capital expenditures. Basically the treat yourself budget. Oh, and Meta did that.

[A]

Instead of sending profits to shareholders as dividends, Meta now reinvests all of their profits into their AI ambitions.

[B]

Like Zucks buying chips and then filling data centers with those chips. And then signing 20 year nuclear power deals to power those data centers with those chips.

[A]

Exactly. And yesterday, Meta announced they plan to splurge $135 billion on AI data centers this year. Wow. 10 billion more than what they estimated. Just three months.

[B]

Yeah. Could you sprinkle on some context? That gives me a nice heavy visual to that number.

[A]

With that $135 billion AI budget, they could instead acquire Ford, General Motors and Chrysler. The entire Detroit big three.

[B]

Vestis here's met his 2026 business in a peanut shell. It's the most efficient ad machine ever,

[A]

which is funding the most ambitious AI machine ever.

[B]

For our second story, Hilary Duff is back. And she's investing in Ladder, the streng muscle app.

[A]

But it's actually a really interesting Ozempic era. Bet that fitness goals will pivot from skinny to strong.

[B]

But yetis, funny thing, Jack and I noticed the New York Times just released their list of the top 30 living American songwriters. And who's on it? Jack?

[A]

Taylor Swift, Stevie Nicks, Missy Elliot?

[B]

I'm sorry, Jack. How is Hilary Duff not on that list?

[A]

The singer, songwriter, child actress and crush of yours truly. When I was 12, how was she not on this list?

[B]

Snub. We got a snub here, jack.

[A]

Her Lizzie McGuire show on the Disney Channel made $100 million one year in merch sales alone.

[B]

The lunchboxes. Tens of millions of dollars lunch boxes.

[A]

Back in the year 2003, Lizzie McGuire was doing 2.3 million viewers per episode. No show was doing that today.

[B]

Hilary Duff won a Nickelodeon Kid's Choice award not once, but twice.

[A]

And that's better than an Emmy award?

[B]

Yes, it is. And based on our 20 year rule of nostalgia, Hillary D. She is back, baby.

[A]

She's having a throwback millennial moment. The now mother of four is doing a worldwide concert tour. Her first in two decades.

[B]

Jack, toss on the Y2K. We gotta whip out our bedazzled denim right now. You ready to go on this stuff?

[A]

I'm not ready to go.

[B]

No one's ready to go. Bedazzled denim. You just jump, Jack. You just do it. But besties, funny timing, and this is what we find fascinating. Hilary Duff also announced her latest investment, a company called Ladder.

[A]

Ladder is a strength training app.

[B]

Yes.

[A]

They basically pioneered the digital personal trainer trend.

[B]

Like a coach reviews your on your Romanian deadlift and then make sure you won't bust a hammy the next time you do it.

[A]

It's like Peloton and Equinox had a baby raised by a former Navy seal.

[B]

Exactly. And the cap table of Ladder, their

[A]

investors, it is jacked because they've raised $100 million in venture capital funding, and they're now top 10 in the app store for fitness.

[B]

They're also tossing up huge numbers on the financial rack. Right, Jack?

[A]

$100 million in revenue. It's the highest grossing fitness app in America.

[B]

Okay, but here's our surprise. Hilary Duff joined this weightlifting app because of Ozempic.

[A]

Actually, she did it in opposition to Ozempic.

[B]

Exactly. Because her perspective is that stronger beats smaller.

[A]

Here's the insight that I can't stop thinking about. With GLP1s available for cheap now, it's easier than ever before to get thin.

[B]

And so if everyone becomes thin, then that would no longer be aspirational.

[A]

Here's the bet that building muscle will be the new fitness aspiration, because no pill can magically do that.

[B]

So Ladder is zagging to the current zig of the Ozempic trend.

[A]

Ladder is trying to get you stronger, not smaller.

[B]

But Jack and I think there's a broader takeaway here for any business in any industry. And I want to give Alex credit because Jack's wife, she called this Jack. So, Jack, what's the takeaway for our buddies over at Hillary Duff's Ladder?

[A]

If you want to understand business, understand physics.

[B]

Ah, Yeti's Newton's third law of motion. For every action, there is an equal and opposite reaction.

[A]

It's the same in business. For every trend, there is an equal and opposite anti trend.

[B]

For example, the rise in artificial intelligence. It's driving demand for human made craft.

[A]

Look at dating apps. After Tinder and Hinge, the pendulum swung back to in person meetups.

[B]

And now we're seeing it in wellness. From losing weight to gaining muscle.

[A]

So Hilary Duff is the poster child for the new Trend of fitness. The aspiration is to be strong, not just skinny.

[B]

Because whenever you see a sudden trend in any industry, remember physics.

[A]

For every action there is an equal and opposite reaction.

[B]

Now a quick word from our sponsor, Dell Yetis. Dell PCs with Intel inside are built for the moments that matter.

[A]

For the moments you plan and the ones you don't. Yeah.

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taken and the times you're deep in your flow and the absolute last thing you need is an auto update thrown off your momentum.

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That's why Dell builds tech that adapts to the way that you actually work.

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Built with a long lasting batteries, you're not scrambling for the closest outlet.

[A]

And built in intelligence that makes updates around your schedule, not in the middle of it.

[B]

They don't build tech for tech's sake, they build it for you.

[A]

Find technology built for the way you [e-mail] DellPCS built for you.

[B]

HIMS yeti's once in a lifetime technologies are a big deal. You got AI self driving cars, tallow

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moisturizer, joking about the tallow, not putting animal fat on our skin yet.

[B]

But we are serious about GLP1s as a life changing technology. We've covered them on the pod with

[A]

WeGovy at hims, you can lose up to 20% of your body weight when combined with diet and exercise.

[B]

Plus WeGovy is the first ever GLP1 pill for weight loss, so there are no needles needed.

[A]

You see, it's extremely hard for me to eat some Doritos without eating the entire bag. But if I were on GLP1s, it would kill that craving, wouldn't it Nick?

[B]

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[A]

That's h I m s.com tboi himss.com tboy. Weight loss by HIMS is not available in all 50 states. WeGovy is the registered trademark of Novo Nordisk as to get started and learn more, including important safety information or govy clinical study information and restrictions, visit HIMSS.com

[B]

for our third and final story. The newest stock that IPO'd yesterday, it fancies itself as the Berkshire Hathaway of the modern generation.

[A]

Bill Ackman created the first ever influencer hedge fund stock. But will you buy it? That's the question.

[B]

Ah, Pershing Square capital. Named after a cool bridge right outside of grand central station. This hedge fund was founded in 03 by Billy Ackman.

[A]

We covered Bill and Pershing last month when he tried to acquire Universal music, the record label that owns Bad bunny's music.

[B]

Big Bad bunny fan, apparently. Well, now he wants you doing the buying. So he's doing something unprecedented.

[A]

He's ipoing his hedge fund.

[B]

That's right. He just took his hedge fund public.

[A]

Bill Ackman says that Warren Buffett is his hero. So like Warren did, he's letting everyday investors get in on his stock picks directly.

[B]

As Bill Ackman put it. He said, we're gonna have investor days. We're gonna have annual meetings, Berkshire Hathaway style, where people come.

[A]

And although unlike Berkshire, Pershing Square is taking a 2% management fee for the honor of letting you invest in Bill Ackman's picks.

[B]

This is a fine print. We just wanted to whip it up for you. But another reason why buying stock in Berkshire is actually very different than buying stock in Pershing Square.

[A]

It's the ingredients.

[B]

Yeah, it's the ingredients. Because besties buying a fund like this is like buying a smoothie, but the

[A]

ingredients of this smoothie are stocks and entire companies that you own a part of.

[B]

Now, Berkshire Hathaway, started by Warren Buffett, that is a smoothie fit for like a 90 year old's diet, if you know what we mean.

[A]

The ingredients are railroad companies, insurance companies and oil companies primarily.

[B]

If they could have thrown silent films in there, they would have invested in those back in the day.

[A]

The most exotic thing Warren Buffett bought for Berkshire Hathaway is Brooks running sneakers and Dairy Queen.

[B]

That's right. But unlike Berkshire Hathaway, pershing Square's top 10 ingredients in their smoothie.

[A]

They taste like you, Alphabet, Amazon, meta, Uber, companies, you know, and use.

[B]

But this ain't just any financial smoothie. Bill Ackman's fund is an erewhon smoothie of stuff.

[A]

Because Bill Ackman thinks he's as much of an influencer as Hailey Bieber. He really does.

[B]

Bill Ackman is a prolific tweeter, isn't he, Jack? Big time.

[A]

In between his buy and sell orders on Wall street, he's tweeting out unsolicited advice on how to win the war in Iran.

[B]

Yeah, he's also tweeting about wealth, taxes, and, like, best practices for your dating life. He does it all the time.

[A]

So much so that they included his handle, ilkman, in the company's IPO paperwork.

[B]

Yeah, you don't see that from a CEO every day.

[A]

Because he thinks his 2 million followers and his opinionated tweets on every divisive issue are actually asset to the stock.

[B]

So best he's add it all up, and what this really is is the first ever influencer hedge fund ipo Inspired by warren buffett.

[A]

But after one day of trading, Pershing hasn't influenced anybody. Have they, nick?

[B]

No, they haven't, jack. Because the stock was priced at 50 bucks when it started, but ended day number one down to 41 bucks. 18% drop.

[A]

In fact, Bill Ackman hoped to issue 25 billion at fresh stock two years ago when he originally wanted to IPO this.

[B]

Good point.

[A]

But yesterday, he only did something 1/5 as big.

[B]

Jack, just don't tweet at him about herbalife. You know what I mean?

[A]

That's like the one that got away real bad.

[B]

It's one investment billy doesn't want to talk about. So, jack, what's the takeaway for our buddies over at pershing square? The first ever influencer hedge fund ipo.

[A]

An investment in pershing is a bet that lightning will strike a fourth time.

[B]

Yetis the key to bill ackman's underlying pitch to investors here. It's that he's a genius investor.

[A]

And of course he kept the receipts. His fund has grown more than three times faster than the S&P since 2020.

[B]

Now, we should point out, his performance has not been as good lately. But bill ackman tries to time the market, and he succeeded. When you look at the receipts, his

[A]

pitch deck shows that he timed the market perfectly during the 08 financial crisis, during the 2020 Covid crisis, and in the 2022 market downturn caused by interest rates and inflation.

[B]

Now, besties. As students of economics, we can tell you academic studies say that no hedge fund can beat the market. Nothing is harder than timing the market.

[A]

The academic literature is super clear. A hedge fund cannot consistently beat the market. Maybe once or twice, but not stretched out over 20 years.

[B]

And yet, bill ackman has beat the market for years and timed the market in three really big moments.

[A]

Does that make him a genius or just three times? He got really lucky. That's the $5 billion question of Pershing square stock.

[B]

So, basties, an investment in pershing is a bet that lightning will strike a fourth time. Jack could you whip up the takeaways for us. For the new Friday.

[A]

Meta is using AI to get more businesses to buy more and then reinvesting into more AI.

[B]

It's the most efficient ad machine ever. Funding the most ambitious AI machine ever.

[A]

For our second story, Hillary Duff is investing in and working out with Ladder to get stronger, not smaller.

[B]

Remember physics in business because for every trend in business there is an equal and opposite anti trend.

[A]

And Bill Ackman thinks that Warren Buffett's grandson should invest in Pershing Square stock.

[B]

It's an influencer hedge fund stock, but its success could depend on lightning striking a fourth touch.

[A]

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

[B]

First, Jerry Powell just completed his final press conference as chairman of the Fed.

[A]

First, he announced that the Fed is not changing interest rates. They're gonna wait and see when it comes to Iran and AI.

[B]

Second, he said he would stay on as a Fed governor even as his term as the Fed chair ends on May 15.

[A]

Third, he defended the independence of the Fed, but fears that attacks from President Trump have battered the institution.

[B]

And finally, he congratulated his replacement, Kevin Warsh, who will soon be confirmed by the Sen to lead the central bank.

[A]

Second, the most expensive home in American history just listed for $400 million in LA.

[B]

Not too shabby. Beverly Hills, baby. It's got multiple kitchens, a hammam bath house, and get this, an X ray machine to make sure your replaced hip

[A]

is in the right socket.

[B]

No, I think it's like a fun party trick, Jack. I think that's what it is.

[A]

Or is it a security situation?

[B]

It was actually owned by the Qatari royals who took 10 years and $350 million to build the place. So they're hoping to make 50 mil on this thing.

[A]

And if it for 400 million, it will beat the previous record set by an Aspen, Colorado ski chalet.

[B]

This thing is bigger than Three Planet Fitnesses. And finally, who wants to buy Venmo? Like the company Venmo? Yeah, it could be going up for sale.

[A]

PayPal just separated Venmo into a standalone unit for the first time.

[B]

Translation, Jack, they just put it up for sale. Yeah, Venmo became a verb, but it never really capitalized on that. So who do you think should buy Venmo? Drop your answer in the comments. Now time for the best fact yet. This one sent in by legendary yeti Maya Constantine from Lovely, Indiana.

[A]

She's one of our big fans in marketing and she's got some wild Marketing

[B]

facts, the wildest of which was the most expensive commercial ever, which is a Chanel ad that featured Nicole Kidman.

[A]

The Chanel no. 5 perfume commercial was directed by Baz Luhrmann in 2004.

[B]

Yeah, the guy who did Moulin Rouge. Elvis Gatsby, like the big Picture Y kind of a stuff.

[A]

It had a $33 million production with nearly 4 million going directly to Nicole Kidman, the star of the ad.

[B]

It was a two minute ad which cost $300,000 for every single second.

[A]

And there wasn't even a CGI dragon

[B]

at that point, just making a movie. Yetis, you looked fantastic for the new Friday. Jack, you were glowing over there. What's going on? What are you thinking over here behind the indie pod?

[A]

Here's the ask. We're trying to grow the YouTube page, so go to our YouTube channel, hebestone yet and subscribe. Sorry. Smash it.

[B]

You gotta smash it. That's the preferred verb. You could also daintily touch it. You could tap it.

[A]

Tap, tap, taparoo.

[B]

In the meantime, enjoy that refresher and Jack and I will see you for the real Friday. And before we go, a happy birthday to Shiva and Monica. T, a couple that has the same birthday and has been married for 16 years in Atlanta. Now guys, you gotta go big on this. Three cakes, three cakes.

[A]

Happy birthday to Eric Chung, turning 35 in Brooklyn.

[B]

And Katie La Costa. Enjoy that birthday down in San Diego.

[A]

Happy birthday to Cindy M. The Angelino now living in New York.

[B]

And Trace Wilson. Enjoy the Salt Lake City birthday, baby.

[A]

Happy birthday to Connor McKenna in New York City.

[B]

And Sonny Khanna's happy birthday all the way over in Amsterdam.

[A]

Happy three years together to Maddie and Lindy in Denver.

[B]

And Tony Apakarian is graduating from Umich Ross. Just like Jack, also a Marine. 30. Thank you for your service.

[A]

And Sam, just like 10 minutes ago, you popped into the studio, interrupted the show. But you know we love saying hi to our friends.

[B]

No, that was so great. Thank you so much for tapping on the window and saying hi and coming into the T Boy studio.

[A]

We love meeting you.

[B]

Hey, shout out to Northwestern. Also for teaching T Boy in the classroom. Go Purple Knights. Wildcats.

[A]

Wildcats, this is Jack. I own stock in Disney, Ford, Amazon and Berkshire Hathaway. And Nick and I both own ETFs of the S&P5.

[B]

The drop by GNC Yetis, the wellness space moves fast. Every day an influencer is pumping some new product which is ironically named Pump product.

[A]

And it'll get you huge even if you don't lift.

[B]

There's creatine in the colostrum in the protein.

[A]

GNC actually has experts who cut through all of that and hand pick what's

[B]

worth your attention the new ingredients, new formulas and new brands in health and nutrition you need to know about.

[A]

The drop is the section of GNC that curates the newest product to share with you what actually works.

[B]

We're talking trending ingredients, breakthrough formula stuff that's actually going to move the needle

[A]

on your goals, whether that's performance recovery or just getting huge.

[B]

So think of it as the VIP section of the supplement world. You're not waiting for something to blow up on TikTok to find out about it. You're already there.

[A]

Get a sneak peek at the newest formulas, flavors and brands coming soon to gnc.

[B]

New drops launch regularly, so there's always something exciting to discover.

[A]

GNC.com TheDrop is the destination to discover something new to try today.

[B]

Get the facts you can trust on what's new and trending plan what's next

[A]

by browsing on the Coming soon calendar of drops at gnc. Com.

[B]

Drop the protein in the colostrum.