👽 “Martian City” — SpaceX’s IPO filing. Victoria’s “VSXY” Secret. Fed Prez Interview. +Hamptons Egg Summer

Summary

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The Best One Yet – May 22, 2026

👽 “Martian City” — SpaceX’s IPO filing. Victoria’s “VSXY” Secret. Fed Prez Interview. +Hamptons Egg Summer

Hosts: Jack Crivici-Kramer & Nick Martell
Duration: ~31 min
Podcast Theme: The three top pop-biz news stories of the day, delivered with sharp wit and insightful analysis.

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Episode Overview

This episode brings a dynamic trio of business stories: SpaceX’s sensational IPO paperwork revealing the wildest incentive in public market history, Victoria’s Secret’s ticker transformation (and retail tech revival), and a preview with Fed President Austan Goolsbee on the eve of a new Fed chairmanship. The hosts thread together these major stories with their signature humor and pop-culture banter, offering context, memorable quotes, and actionable takeaways—all before Memorial Day weekend.

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Key Discussion Points & Insights

1. SpaceX IPO: Science Fiction Becomes (Expensive) Fact

Segment: [05:46] – [13:23]

• Wildest S-1 Ever:

  • SpaceX’s public IPO paperwork is out, reading more like a sci-fi novel:

    “You want to wake up in the morning and think the future is going to be great. It's about believing in the future and thinking that the future will be better than the past.” —Nick, quoting Elon Musk’s S-1, [06:18]

  • Their mission:

    “To make life multi planetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars.” —Jack, reading the S-1, [06:37]

• Three Main Divisions:

  • Space: Rocket launches (40 in Q1) lost $662M last quarter, but the company dreams big: Starship (the largest spaceship ever) aims for lunar mining, space tourism, and Mars colonization.
  • Starlink: The "profit puppy"—9,600 satellites, $1.2B in quarterly profit, and 10M users.

    “The dream for Starlink is to eat up T-Mobile, Verizon, and AT&T and become the one wireless provider, all coming from space.” —Jack, [10:01]

  • AI: Recently acquired XAI (formerly Twitter) and Grok AI lost $2.5B last quarter, turning the financials toxic but painting a $27T total addressable market (TAM).

• Elon's Billion-Share Martian City Bonus:

  • Legally, Elon gets 1 billion new shares if he establishes a city of over 1 million people on Mars:

    “A permanent human colony on Mars with at least 1 million permanent inhabitants.” —Jack, [08:50]

• Governance & Risks:

  • Elon will control 85% of voting stock.
  • AI is both the only reason to buy (huge potential) and the main risk (huge losses).

    “SpaceX stock is basically an Elon Musk trading card.” —Nick, [12:46]

• Index Inclusion Trick:

  • Day 15 after IPO: NASDAQ 100 inclusion forces index funds to buy, likely sending shares up.

    “If you own SpaceX stock on day 15…billions of dollars of funds will be fighting to buy your shares.” —Nick, [12:31]

• Takeaway:

  • Short-term pop likely, but long-term, buying SpaceX is “putting your faith in Elon Musk’s story.”

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2. Victoria’s Secret’s “VSXY” Ticker & Retail Tech Reboot

Segment: [13:23] – [17:37]

• Ticker Symbol Rebrand:

  • New ticker: VSXY (from VSCO), aligning with its “Very Sexy” product line—a rare case of product and ticker synergy.

    “First time we've seen a stock ticker follow a product launch for a company. We never saw that.” —Nick, [14:37]

  • CEO Hilary Super on the change:

    “Sexy has…always been part of our DNA. And if you ask 10 women what sexy means, you'll get 10 very different answers.” —Jack, [14:57]

• Brand Comeback:

  • After scandals and losing the “thongopoly” to Skims, Fenty, & Siren by Sydney Sweeney, Victoria’s Secret is growing profits (up 21% in 2025 despite fewer stores).
  • Biggest edge over digital competitors: 800 retail stores with dressing rooms.

• Smart Dressing Room Tech:

  • “Store of the future” deployed RFID technology: in-fitting-room touch screens let customers discreetly request new sizes or info.

    “Retail is not dead. That retail's dead.” —Nick, [17:37]

  • Apparel stocks like Ralph Lauren, Gap, Abercrombie surging—smart fitting rooms seen as key differentiation from online shopping.

• Takeaway:

  • “Smart dressing rooms are saving stores”—physical retail isn’t dead, it’s evolving.

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3. Interview Preview: Fed President Austan Goolsbee

Segment: [19:43] – [25:00]

• US Central Banking Power Chat:

  • Full interview will air Memorial Day, but listeners get a clip as Kevin Warsh is sworn in as new Fed Chair.
  • Goolsbee reacts to hosts’ grades for outgoing Chair Jerome Powell:

    “I considered Jay Powell a first ballot hall of fame Fed chair.” —Austan Goolsbee, [20:51]

  • Key achievements highlighted:
    • Managed COVID economic collapse without triggering a financial crisis.
    • Navigated bank failures and Silicon Valley Bank drama.
    • Oversaw a sharp drop in inflation without a recession (defying 2023 consensus).

      “In 2023, going into 2024, inflation fell as much as it's ever fallen in a single year. And there was no recession. Each of those three things, many smart people said was impossible.” —Goolsbee, [21:24]

• Fed’s Decision Room:

  • Goolsbee describes the decision process; big square table, blinds drawn, no phones allowed.

• Hosts’ Reaction:

  • “A Fed president is a yeti? Basically, yeah.” —Nick, [23:48]
  • “We're influencing monetary policy apparently.” —Jack, [23:57]

• Takeaway:

  • Goolsbee lauds Powell; for more, listen to the full episode Monday.

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Notable Quotes & Memorable Moments

• On Hamptons Summer Trends:

  “Even Wall Street is trading champagne for pancakes.” —Nick, riffing on diner craze in the Hamptons, [02:08] “The cheapest thing on the menu of this affordable diner is a $14 bacon, egg and cheese on a muffin.” —Nick, [02:39]

• On Ticker Symbols:

  “Clear Secure has…YOU. Because it's like, about your identity.” —Jack, [14:00]
  “If Costco switched theirs to HUGE, that’d be great.” —Nick, [14:10]

• On Victoria’s Secret’s Retail Edge:

  “You can't ship a fitting room to someone's door.” —Nick, [16:18]

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Timestamps for Important Segments

• [05:46] SpaceX IPO breakdown and sci-fi factor
• [06:18] Musk’s “sermon” in the S-1 filing
• [08:50] The Martian City bonus clause
• [10:01] Starlink, the profit puppy
• [12:07] IPO inclusion timeline and trading strategy
• [13:23] Victoria’s Secret “VSXY” ticker story
• [14:37] Product + ticker synergy
• [16:18] In-store tech and competitive edge
• [19:43] Federal Reserve transition, Goolsbee interview preview
• [21:24] Achievements under Powell
• [23:57] Hosts process being “influencers” for central bankers

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Episode Takeaways

• SpaceX:
  AI is now the main story for SpaceX—it’s both the massive opportunity and the existential threat. Stock is a short-term play around index inclusion (day 15), but a long-term “Elon Musk trading card.”

• Victoria’s Secret:
  Smart in-store tech (RFID dressing rooms) is powering the comeback of brick-and-mortar brands. The ticker is now as on-brand as the underwear.

• Federal Reserve:
  Outgoing Fed Chair Jerome Powell gets high marks from the president of the Chicago Fed, and the hosts tease exclusive insights for the Memorial Day drive home.

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Additional Quick Hits (Rapid News, [25:13]-[26:23])

• Star Wars: New Mandalorian & Grogu movie premieres, expected to be lowest-grossing Star Wars film ever.
• Spotify: Deal with Universal to let subscribers generate their own AI music; adds top-fan concert ticket perk.
• Cars for Kids Jingle: Banned in California for false advertising.
• Gas Prices: Big disparity between US and Kuwait; Americans are self-rationing because of high prices (Walmart fill-ups <10 gallons for the first time since 2022).

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Final Thoughts & Tone

The episode is a lively mix of business reporting and banter—irreverent, fast-paced, but packed with real financial/market context. The hosts trade jokes and cultural references (from Spaceballs to Hamptons diners), but always bring it back to pointed analysis and clear, actionable takeaways.

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Recommended listening:

• Full Fed interview drops Memorial Day Monday.
• For more “bacon, egg and cheese summer” and living-room trading tips, subscribe or tune in for daily business wisdom.

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Transcript

[A]

This is Nick, this is Jack. It's Friday. The Real Friday, May 22. And today's pod is the best one yet. And this is a T boy, the

[B]

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

[A]

Jack, just got to Gwyneth Paltrow's adu. We're basically staying in her backyard in Santa Barbara right now.

[B]

Early Memorial Day weekend situation, right?

[A]

Yeah, just got to Santa Barbara.

[B]

You prepped the whole pod from 101, didn't you?

[A]

On the highway, Meghan Markle keeps dming me and asking me for financial advice, man.

[B]

I think you're there because season two of Beef on Netflix was in Santa Barbara. You just like chase those high end dramas.

[A]

Once you start watching the show, you just gotta follow the show. Jack, three fantastic stories for today's T Boy. What do we got before the three day weekend?

[B]

For our first story, SpaceX's IPO paperwork revealed that Elon Musk gets a 1 billion share bonus if he establishes a city on Mars with at least a million people.

[A]

Mars City. It's the craziest S1 Jack and I'd ever read. And we are going to give you our stock recommendation.

[B]

For our second story, Victoria's Secret changed her ticker symbol in a symbolic exit from the cultural penalty box.

[A]

But the sexiest part of Victoria's Secret right now is their techie dressing rooms.

[B]

And our third and final story. Nick and I interviewed the president of the Chicago Federal Reserve Bank, Austan Goolsbee.

[A]

Yeah, the Fed praise. And since the new Fed chair gets sworn in today, Jack and I whipped up a preview for you.

[B]

But yetis, before we hit that wonderful mix of stories.

[A]

Love the mix. No one else doing that mix, Jack.

[B]

Happy unofficial first Friday of the summer.

[A]

First summer Friday. You're not in today. Season just kicked off. You're already on the road to somewhere.

[B]

Is this the day that the cast of Summer House shows up in the Hamptons? Next.

[A]

Hair and makeup, you gotta get there 24 hours early. But speaking of the Hamptons, Jack, bunch

[B]

of New Yorkers are headed down the Long Island Expressway as we speak.

[A]

It's the ultimate indulgent retreat.

[B]

It's the seasonal migration of Stanley Morgan.

[A]

The Hamptons home with a $100 lobster salad, the $200 pilates class, and the

[B]

third home for your but besties.

[A]

The hottest reservation in the Hamptons this summer. It ain't behind a velvet rope.

[B]

For the first time, the hottest reservation is an affordable diner.

[A]

Get this, in this economy, even Wall street is trading champagne for pancakes.

[B]

The real housewives of the Hamptons found a value meal.

[A]

It's called Babes. It's in Sag harbor. And according to Bloomberg, it is the hardest reservation right now on Long Island.

[B]

Hang on a second. Sag Harbor's not the Hamptons. That's North Fork, man.

[A]

We're rounding up on this one. But Jack, the wait time at this diner on a Tuesday, it's over an hour right now.

[B]

I heard they rejected Bill Joel. They wouldn't give him a table.

[A]

Not even a chance. Few phenomenon capture this economy. Besties quite like this Hampton's Diner.

[B]

Because the cheapest thing on the menu of this affordable diner is a $14 bacon, egg and cheese on a muffin.

[A]

Yeah, but Jamie Dimon, he ain't getting a back table and bottle service at Surf Lodge this June.

[B]

He's doing hash Browns at this 20 seat diner that doesn't take renovation.

[A]

Besties. Last year we called it the value meal summer.

[B]

This year we call it bacon, egg and cheese summer.

[A]

If you know, you know. Now you know. Jack, let's hit 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 ready to go we can't wait no more so just start the show, Start the show. Start the First, a quick word from our sponsor,

[B]

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[A]

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

[B]

31.

[A]

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

[B]

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

[A]

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

[B]

Where are we? Don't forget my mortgage, my house, the car I own. They're all linked. And all their values in Monarch, you see, besties.

[A]

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

[B]

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[A]

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[A]

for our first story, SpaceX's science fiction is now nonfiction. Its paperwork for their IPO just became public. So we jumped in T Boy style

[B]

for you, and we learned that SpaceX has the best business on Earth, the worst business on Earth, and a legally binding promise to colonize Mars with a

[A]

Martian city of a million humans. More on that in a minute. But first, Jack, the very first sentence of the SpaceX S1 IPO paperwork. It was like a sermon at a church written by a priest named Elon Musk.

[B]

Here it is. You want to wake up in the morning and think the future is going to be great. It's about believing in the future and thinking that the future will be better than the past. That was the first sentence of SpaceX's IPO paperwork breach.

[A]

But the second paragraph of that IPO paperwork. It's a mission statement which honestly, honestly sounded like George Lucas crafted that part.

[B]

Here's SpaceX's mission statement. To make life multi planetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars.

[A]

I'm sorry, is that chapter three of Hitchhiker's Guide to the Galaxy Jack.

[B]

Nick, I just want to point out the only other company we have ever seen use the word consciousness in an sec. Paperwork.

[A]

Who is it? WeWork but Besties. What follows in SpaceX's IPO paperwork is 10 straight pages of really cool pictures of rockets and space stuff.

[B]

Like one of his 17 kids grabbed the computer for that moment.

[A]

Yeah, it was like the banks working on this were Goldman Sachs, Morgan Stanley and Chewbacca.

[B]

More on that colorful language, the sermon and the sci fi and the takeaway. But we wanted to see these numbers because SpaceX's IPO has been so, so anticipated.

[A]

This has been like science fiction, it just became nonfiction. So, Jack, the bull case for SpaceX, what is it?

[B]

The upside story for SpaceX is found in their two OG divisions, Space and Connectivity.

[A]

For this segment, the key number is their orbit. What is that? Sprinkle on the context, please.

[B]

It's measured in metric tons. So in the first quarter, SpaceX did 40 rocket launches and sent 556 tons of stuff into space.

[A]

That's a lot.

[B]

But interestingly, SpaceX lost $662 million doing those rocket launches.

[A]

Just got lost in orbit, I guess. But the space bull case in this case relies on something called the starship. And what is that, Jack?

[B]

It's the biggest spaceship man has ever built.

[A]

Kind of looks like the opening scene of Spaceballs is just missing. Rick Moranis. If you know, you know, you've seen videos of this.

[B]

It actually there was a test launch yesterday, but there's never been people inside Starship.

[A]

And the goal to make starship the interplanetary workhorse that develops a lunar economy, hauls data centers into space, and one day, yes, colonizes Mars.

[B]

Get this. The word rideshare was mentioned twice in SpaceX's IPO document.

[A]

SpaceX is trying to be the uber basically of the space industry because they're

[B]

letting companies share one rocket to split the costs of a ride into orbit.

[A]

But that's not all the other businesses that SpaceX wants to hit in the future. Oh, it is quite a list, my friend.

[B]

Astro asteroid mining, space tourism, manufacturing on Mars.

[A]

All future revenue streams. But Jack, what's the wildest part?

[B]

Elon will get a bonus of 1 billion shares of SpaceX if he establishes, and I quote, a permanent human colony on Mars with at least 1 million permanent inhabitants.

[A]

Besties, A Martian metropolis. Sit down, stand up and blast off again.

[B]

Yeah, if he founds a city on Mars bigger than San Francisco, he'll get a billion shares of SpaceX again.

[A]

This is A legal document filed with the federal government on Wednesday. And we're talking Martian cities, baby.

[B]

No, we assume he named the city Muskegon.

[A]

Or maybe Space Francisco. You know, you could play with that.

[B]

How about New New York?

[A]

No one else has done that. I mean, it makes sense, Jack.

[B]

All right, so that's the first division. That's pretty exciting, space.

[A]

But the second is the profit puppy. And that division is Starlink.

[B]

They call it the connectivity division because they have 9,600 satellites orbiting Earth that send Internet down to us Earthlings who pay 100 bucks a month.

[A]

Full disclosure, this Airbnb in Santa Barbara, where I'm recording from right now, Gwen,

[B]

to say to you.

[A]

Yeah, so they use Starlink. If the power goes out during our recording, that's not a good sign.

[B]

So Starlink is a consumer business, but also like United Airlines uses it on their airplanes. And it is a profit puppy.

[A]

Yeah, 1.2 billion bucks in profit last quarter. 10 million users. That's up double from last year.

[B]

The dream for starlink is to eat up T Mobile, eat up Verizon, and eat up at&t and become the one wireless provider from all coming from space.

[A]

So space wifi colonizing Mars. That's the bull case upside for SpaceX. But, Jack, what's the bear case downside?

[B]

The bear case downside is the division they just bought that loses tons of money.

[A]

Elon's pitching this as an upside bull case thing, but that division is, shockingly, the AI division.

[B]

The AI division of SpaceX includes Grok and X, formerly known as Twitter, and

[A]

it's losing incredible amounts of money. Two and a half billion bucks lost in the first quarter of this year alone.

[B]

So that one acquisition in Febr of XAI turned SpaceX's income statement from an amazing growth story into basically a crime scene.

[A]

And the bear case is that Grok, which is not the leading AI model right now, remains behind Claude and ChatGPT and Google's Gemini and never catches up.

[B]

The bear case is that AI just continues to lose money forever at SpaceX, taking down the rocket and satellite business with it.

[A]

But, Jack, I gotta ask, does it matter? Because when you're looking at who's running the company, Elon is legally the dictator here.

[B]

I believe he will reportedly control 85 of the voting stock of SpaceX. Yeah, they created a special share class

[A]

just for Elon, the E shares. You see, Elon says that AI represents a $27 trillion opportunity.

[B]

This was financially the wildest part of the S1. He says that AI is a $27 trillion total addressable market, which is equal to 20% of the world's GDP.

[A]

And Elon says 93% of SpaceX's total addressable market is that AI related opportunity.

[B]

And that's why SpaceX spent three times more money building AI data centers last quarter than they spent on rockets or satellites combined.

[A]

What we're saying, besties, is AI is simultaneously the only reason to buy SpaceX because it's the biggest opportunity, according to Elon.

[B]

And AI is the one reason not to buy SpaceX because it's the one thing with no sign of making money.

[A]

But Jack and I have a different opinion. Yes, it is financial advice and it's our takeaway. So Jack, what's the takeaway for our buddies blasting off with the SpaceX IPO?

[B]

The most important number to know about SpaceX's IPO is 15 as in 15 days.

[A]

Yet he's 15 days after SpaceX's IPO. Next month they'll join the NASDAQ 100. NASDAQ actually changed the rules just for SpaceX to join early.

[B]

So on day 15, somewhere around late June, index funds will be required to buy SpaceX in order to replicate the makeup of the NASDAQ 100.

[A]

So if you own SpaceX stock on day 15, after the IPO, billions of dollars of funds will be fighting to buy your shares. The stock probably rise.

[B]

But after that, nick, after day 15, owning SpaceX stock is putting your full faith in one man, Elon Musk.

[A]

After day 15, SpaceX stock is basically an Elon trading card.

[B]

After day 15, if you own SpaceX, you're ignoring the $41 billion of cumulative losses since SpaceX was founded in 2002.

[A]

You're ignoring the risk, the competition, and believing in Elon Musk story instead.

[B]

So there's two reasons to own SpaceX long term. One, if you just love Elon Musk and want the equivalent of his financial trading card.

[A]

Or if you think enough other people love Elon that much that the stock will continue to defy markets indefinitely, just like Tesla has.

[B]

So short term, the stock looks great because of the 15 day NASDAQ index inclusion moment.

[A]

But long term besties? SpaceX's stock is an Elon Musk trading card. For our second story, Victoria's Secret is updating its ticker symbol to VSXY, a symbolic exit from the cultural penalty.

[B]

And to beat Kim Kardashian, Sydney Sweeney and Rihanna, Vicki's got something they don't. Dressing rooms.

[A]

She's got dressing rooms. But besties. Let's Talk about the ticker symbol. The stock ticker symbol, right, Jack?

[B]

I think it's an underappreciated marketing opportunity.

[A]

Oh, yeah. Who's our Mount Rushmore of like, the four best stock ticker symbols out there? Who do you think Petco has?

[B]

Woof. Six Flags has fun.

[A]

Clear Secure has you. Y O, U.

[B]

Because it's like, about your identity. And the maker of Lacroix National Beverage Corps.

[A]

Fizz fizz. It doesn't get any better than that.

[B]

I've always wished one thing that would be better is if Costco switched theirs to huge. That'd be great.

[A]

Or TP for toilet. There's a lot to work with with Costco is what we're saying.

[B]

But Victoria's Secret, since spinning off as a separate company in 2021, has had the lame VSCO for Victoria's Secret company.

[A]

Well, what does that even mean? I guess you just told us, Jack. But here's the news.

[B]

They're changing their ticker to vsxy, aligning with their new underwear line. Very sexy.

[A]

First time we've seen a stock ticker follow a product launch for a company. We never saw that.

[B]

Except for Meta. With the metaverse.

[A]

Well played. But Victoria thinks that it's time to stop apologizing for the past but not forget their toxic past either.

[B]

Victoria's Secret CEO Hilary super great name, by the way.

[A]

Great name.

[B]

Published a letter on their website yesterday explaining the ticker symbol change.

[A]

She said that sexy has, quote, always been part of our DNA. And if you ask 10 women what sexy means, you'll get 10 very different answers.

[B]

So after getting burned by bralettes for about a decade, this very sexy line doesn't sacrifice comfort either.

[A]

Here it is. The new double pushup bra has more padding for extra volume and lift, but

[B]

the underwires are encased in fabric to protect against the skin for comfort.

[A]

And the strategy? It's working. And we got the receipts because the

[B]

double push up bra is seeing double digit growth.

[A]

Get this, profits popped 21% for Victoria's Secret in 2025, despite 2% fewer stores.

[B]

Victoria's back. It's not even a secret anymore.

[A]

Now besties to sprinkle on some context. We've talked to you before about the Victoria's Secret void that emerged back in 2020.

[B]

Lost its thongopoly because Victoria's Secret got bruised badly.

[A]

You see, the founder resigned after an investigation for being extremely close associates with Jeffrey Epstein.

[B]

That, plus the backlash against Victoria's Secret's angels and their idealized image of Beauty left a huge void in the market.

[A]

And into that void jumped Kim K. Skims, Riri Savage by Fenty, and more recently, Sydney Sweeney. Siren swooped right on it.

[B]

But Vicky has something that none of those three celebrity backed brands do.

[A]

Yeah, what is that, Jack?

[B]

800 stores with dressing rooms.

[A]

That's right. To quote that 1999 rap song, Shake what ya mama gave ya, and Victoria's Secret's mama gave her a lot of retail stores.

[B]

And you can't ship a fitting room to someone's door.

[A]

No, you can't, Jack. So, Jack, what's the takeaway for our buddies over at Victoria's Secret?

[B]

Smart dressing rooms are saving stores.

[A]

Yetis. Two years ago, Victoria's Secret rolled out their store of the future concept. And here's the key. The smart fitting room.

[B]

You walk into a Victoria's Secret fitting room with three items today, and those three items will pop up on a digital screen on the wall like magic.

[A]

How does it know? RFID tags. They're attached to each item, so you can then tap a screen to learn more or request a new size without ever leaving the room.

[B]

Now, I can't order jeans online because the sizes always vary. But I don't want to order in store either because I'm in there with like a 3232 and it's humiliating when I'm like, no, nope, they're not even getting past my thighs.

[A]

I've gone shopping with Jack. He doesn't like walking out of the fitting room because it becomes like a de facto Runway show and before you know it, he's having too much fun.

[B]

So, Nick, with this new technology, I could just discreetly tap the new size I want and an associate brings it to my fitting room.

[A]

But it's not just Victoria, besties, Gap, Old Navy, Victoria's Secret. More are deploying these smart dressing rooms as an advantage over online only stores.

[B]

Yetis. With the trade war, you'd think that these apparel companies who make their products in Southeast Asia, generally speaking, they'd all be struggling because of tariffs.

[A]

But here's what we find fascinating. Ralph Lauren, the Gap, Abercrombie are some of the best performing stocks over the

[B]

last few years because the smart dressing room is saving physical apparel.

[A]

Retail's not dead. That retail's dead. Now a quick word from our sponsor. Top hats, baseball hats, Von Dutch hats. We wear so many hats on this podcast. Honestly, we're not great at all of them.

[B]

No, we've been avoiding hiring someone to wear those hats instead of us. Especially the Von Dutch ones because hiring and training can take forever.

[A]

Well, for that to say that we are hiring right now at T boy. And this is a job for Indeed Sponsored Jobs.

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Because sponsored jobs posted directly on indeed are 95% more likely to report a hire than non sponsored jobs.

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you need the right person to cut through the chaos. This is a job for Indeed Sponsored Jobs.

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And listeners of the show will get a $75 sponsored job credit to help get your job the premium status it deserves@indee indeed.com podcast.

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So just go to indeed.com podcast right now and support our show by saying you heard about Indeed on this podcast.

[A]

That's indeed.com podcast. Terms and conditions apply. Need a hiring hero? This is a job for Indeed Sponsored jobs. Upwork Yeti Scaling a business fast requires the right people at the right time. Including at Superhero Inc. Can we talk

[B]

about how good Batman was at delegating?

[A]

Nick? I mean, Jack Robin was basically his chief of staff. Lucius was handling the R and D.

[B]

And Alfred, he made sure the pasta was cooked al dente when they got home from fighting the bad guys.

[A]

Yeah, that is the art of delegating. And Batman must have been using upwork

[B]

to pull it off because hiring is slow. Upworking freelancers is fast.

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Upwork is a one stop platform to find, hire and pay expert freelancers across software development, data analytics, marketing and biz ops.

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And with AI powered shortlisting, you'll get matched to the right freelancer in under six hours. Hours. No endless searching required.

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No one talks about this at the Superhero sales conference, so true. But Batman was probably an upwork power user.

[A]

So besties, visit Upwork.com right now and post your job for free.

[B]

That is Upwork.com to connect with top talent ready to help your business grow. Right now.

[A]

That's up W.W. o R K.com Upwork.com for our third and final story. This is a special one. Today, President Trump swears in Kevin Warsh as the new chair of our Federal Reserve.

[B]

So we just. We just interviewed the president of the Federal Reserve, Austan Goolsbee, and we wanted to give you a preview.

[A]

Now, besties, the full episode, the full interview. It actually publishes on Memorial Day Monday. And we asked Mr. Goolsbee. Dr. Goolsbee, to grade the outgoing Jerry Powell.

[B]

Wait a second. He's a PhD in economics. I don't think we call him Dr.

[A]

I feel like we gotta round up on this one, Dr. G. What do we got?

[B]

Let's play the clip. So Jerome Powell just ended his tenure as chairman, although he's still going to be at the table for a couple years. Nick and I just did an episode on Friday covering his eight year tenure and we gave him a grade based on our assessment of his performance for both how he handled the economy and monetary policy and how he handled the Fed as an institution. Are you able to share yours before we share ours?

[C]

Well, I saw yours.

[A]

So

[C]

you gave him a B on the economy and a plus on independence, right?

[B]

Correct.

[C]

I considered Jay Powell a first ballot hall of fame Fed chair. And every Fed chair's got stuff that went wrong and stuff they did well. And the biggest knock on his tenure as chair is the Fed was slow coming off the block as inflation started back up. That's the only knock and I think the combination of one, we had the epic collapse of the economy in Covid and it did not turn into a financial crisis.

[A]

Fair.

[C]

That. Number two, we had bank failure, Silicon Valley bank, et cetera, after the Fed started raising rates quite significantly. And that didn't turn into a financial crisis or even a credit crunch lunch. And in 2023, going into 2024, inflation fell as much as it's ever fallen in a single year. And there was no recession. Each of those three things many smart people said was impossible. There was in 2023, people were making fun of the idea that inflation could go down without there being a recession. Larry Summers, you saw us. There must. There will be an intense recession for five consecutive years before inflation will come down. All three of those, any one of those would be a pretty strong accomplishment. And then you add navigating through political pressures that are unlike any in modern memory. That seems like a pretty compelling combination to me.

[A]

Jack, do we have to do a grade revision here?

[B]

I mean, no, I think, I guess that one knock the two lane to raise interest rates, it's, it's a pretty big knock.

[C]

Look, I, I, I don't, I don't dispute that. All, all I'll say is he wasn't the only one making the forecast that inflation was going to be transitory.

[B]

Right.

[C]

And when they decided to pivot, because I want to say again, I wasn't there. And when it was, I didn't do that. But look, I, I agreed with this. The professional forecaster, investors and the markets were thinking that as I was, I thought inflation would be temporary because I thought a Lot of it was coming from a wrecked supply chain and that the supply chain would heal quicker than it did. But when it healed, we got the decrease in inflation without a recession. And to me the fact that that happened on the other side side kind of establishes that there was less of the stimulus driven than the supply driven part in the beginning. But look, I, I'm aware people are, people are of, of different minds on that.

[A]

Yet he's Nick and Jack here back in the T Boy studio with you. Very cool, Jack. That Goolsbee listens to our show. A Fed president is a yeti? Basically, yeah.

[B]

Sometimes my mom asks like, are you an influencer? I don't feel like one. But we're influencing monetary policy apparently.

[A]

Besties, you gotta listen to this full interview on Monday on your drive home

[B]

from Memorial Day weekend Austin. He is one of the votes that decides whether to raise or cut interest rates.

[A]

Oh, and this is wild. Earlier in the interview he actually brings us into the room where the Fed chair, the Fed president, the Fed governors vote on whether to raise or cut interest rates. Like with a lever.

[B]

It's a huge square table. No phones are allowed in the room, all the blinds are drawn. And Jerome Powell decides what for lunch.

[A]

All right, so listen to the whole episode on Monday. But Jack, in the meantime, can you whip up the takeaways for us? Before the three day weekend, SpaceX's bet

[B]

on AI has become the whole company. It's both the reason to buy and to avoid this mars colonizing stock.

[A]

But Jack and I think it's a buy until day 15. After that, SpaceX stock is an Elon trading card.

[B]

Your call for our second story. Victoria's Secret is changing their stock ticker to vsxy. But Unsexy Tech is saving the stock.

[A]

The smart dressing room. It's the physical store Lifesaver.

[B]

And our third and final story, we interviewed Fed President Austan Goolsbee who says that Jerome Powell is a first ballot hall of fame Fed chair.

[A]

And for more on what he thinks about the economy, interest rates and secrets of our central bank, check out our full interview on Memorial Day Monday.

[B]

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

[A]

First, last night, the first Star wars movie in seven years premiered in theaters.

[B]

The Mandalorian and Grogu. It's actually expected to be the lowest grossing ever Star wars movie.

[A]

Second, Spotify announced a deal with United Music Group to let subscribers generate your own AI music.

[B]

So you can be like, I wanna listen to a bunch of Noah Khan right now, but with a little less depressing lyrics.

[A]

He's not always that happy.

[B]

Spotify AI will make that Noah Con brightness happen for you.

[A]

Spotify's also reserving two tickets to all live nation concerts for the top fan of the artist playing. And finally, you know that Cars for Kids commercial that you can't get out of your head? Well, now you can't get out of your head.

[B]

Well, don't worry, it's getting banned.

[A]

A judge ruled in a court case that the charity behind Cars for Kids mis donors. The cars do not actually go to kids. Spoiler.

[B]

What incredible deception.

[A]

They do spell kids with the Z, Jack. And maybe that was their out. But besties, the state of California has banned the jingle from the airwaves. Not because it's annoying, but because of the false advertising. Now time for the best fact yet. This one for your Memorial Day weekend sent in by our legendary Yeti Khalid from the country of Kuwait.

[B]

Walmart reported earnings on Thursday morning and they noticed that the average gas fill up at Walmart stores that have gas stations was below 10 gallons of gas for the first time since 2022.

[A]

What's the takeaway mean there, Jack?

[B]

Americans are self rationing due to high gasoline prices, limiting how much they put in the pump.

[A]

But here's what we find fascinating. Khaled lives in the Middle east and in Kuwait, oil is subsidized by the government.

[B]

So the price of a gallon of gasoline in Kuwait, you're not going to believe it.

[A]

28 cents a gallon.

[B]

It is $4.56 a gallon here in America. On average average 28 cents.

[A]

In Kuwait it's 95% less. You want to fill up your suburban, it costs you the same as a Tootsie Roll in Kuwait. Basically. Yetis, you look fantastic for the real Friday. Jack, you are glowing over there. Especially now that I know you're a 32 waist. Not too shabby. I'm 32.

[B]

32 sometimes. Unless the pants come in a completely different size than 3232.

[A]

Yeah, it depends on the humidity. I think that's the excuse besties remember to celebrate the wins this weekend. We're celebrating the win of a wonderful interview with the Fed Perez and some big stuff coming next week for you.

[B]

Big highlight for me this weekend, assistant T ball coach. Or is it assistant to the T ball coach?

[A]

Sounds like you got some HR stuff to work out with that little league Jack. Besties drop down, give us a five star rating review and Jack and I will see you Tuesday. Oh Jack And I will see you Monday for the Fed interview. And before we go, a special shout out in honor of Memorial Day to all the vets who sacrificed for our country out there. Thank you to everyone who gave so much for us.

[B]

And to all the military families as well.

[A]

And on the birthday front, it's a 30th birthday. Happy birthday to Gebz Bastos over in Porto alegre, Brazil.

[B]

Happy 30th birthday to Drew and Tony Phillips, twins turning 30 in Kansas. Drew's wife, by the way, Solvay, just had their first baby. Congratulations.

[A]

Congrats. And Sydney Steinberg celebrating 27 from LA, living in New York City and flying to Barcelona for the long weekend.

[B]

Happy birthday to Alan Zhang in Minneapolis, Minnesota.

[A]

And Sue Lemke. We see your birthday up in Grand Rapids, Michigan.

[B]

Happy birthday to Daniel Balagula in Brooklyn, New York.

[A]

And Isabel, the violinist of South Burlington is turning 12. Congratulations in the Green Mountains.

[B]

Isabelle, someday I'm gonna see you perform at the Flint.

[A]

And a happy 8th birthday to Eden Atkins enjoying the zoo down in South Carolina.

[B]

Happy birthday to Haley Rock Turn turning four years old with a big craft party the same birthday as her grandma just outside Boston.

[A]

And Angela and Daniel have got new jobs down in Dallas. Congratulations, guys.

[B]

Happy five year anniversary to Jessica and Evan Haggerty in Austin, Texas.

[A]

And Cody and Emily, we see your seven year anniversary. Thanks for coming to our live show in dc. Congratulations, guys.

[B]

Congratulations to Philip Nonast in the Bay Area who just got into Wharton for the NBA program.

[A]

And Cole Thompson's graduated in the Bay Area with a master's degree.

[B]

And a big shout out to Crystal Nishioka from Ms. Get this. Her husband wishes her a happy wedding anniversary. Lovely. He can't do it himself in person because he's on a plane on the way to his buddy's bachelor party.

[A]

So Crystal, we hope you can enjoy this weekend.

[B]

Let's just hope this isn't like the 25th or a big one, you know?

[A]

Guys, enjoy it when you get back.

[B]

And to anyone else celebrating something today,

[A]

making a T boy celebrate the wins.

[B]

This is Jack. I own stock of Disney. And we both own stock of Spotify.

[A]

Today we're talking about how you don't have to earn more when you can save more. Okay, so you brought me this stat. T Mobile customers had the lowest wireless bills versus Verizon and AT&T over the past five years. That seems surprising. Surprising but true. Which honestly is what people need right now.

[B]

Affordable wireless services and affordable perk.

[A]

It's a difference. Based on Harris X billing snapshots from Q3 21 and Q4 25 compared to average AT&T and Verizon bills. Comparison excludes discounts, credits, and optional charges.

[B]

For more details, see harrisx.comT mobile bills.