😬 “Millennial Cringe” — Sweetgreen’s low. Walmart’s villain-to-hero. Mini-Soap Drama surge. +Techie facelifts

Summary

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Podcast Summary: The Best One Yet

Episode: “Millennial Cringe” — Sweetgreen’s low. Walmart’s villain-to-hero. Mini-Soap Drama surge. +Techie facelifts
Hosts: Jack Crivici-Kramer & Nick Martell
Date: November 17, 2025

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Episode Overview

This jampacked episode explores the latest twists in pop-business news. Jack and Nick break down three big stories:

• The decline of beloved millennial brands on the stock market.
• Walmart’s stunning turnaround from corporate villain to hero.
• The microdrama video boom sweeping from China to the US.
  Plus, there's a cheeky dive into Silicon Valley’s latest cosmetic surgery trend and some rapid-fire, quirky business news and facts.

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Key Discussion Points & Insights

1. Millennial Cringe in the Stock Market

(Segment begins ~05:30)

• Main Story:
  Sweetgreen’s stock has plummeted to an all-time low—a trend shared by other millennial-loved brands like Warby Parker, Allbirds, and even Chipotle and Cava.

  • Sweetgreen’s latest earning call: Sales down 10%, foot traffic down 12%.
  • They ditched their robotics salad kitchen to raise cash.
  • "Sweetgreen is now worth under $1 billion... worth 1/12 of a Lyft." (A, 06:51)

• “Millennial Cringe Stock Market”:

  • Brands worshipped by the millennial set have seen stock prices tank—Warby Parker is down 70% from its high, Allbirds down 99%.
  • Casper Mattress disappeared from public stock entirely.
  • "If any brand bought an ad in the New York City subway in 2015 and hyped themselves as organic and used very clean branding, their stock is down near an all-time low." (A, 08:13)

• The “Triple Pain”:

  • All faced artificial low pricing subsidized by venture capital, which went away after IPOs.
  • General inflation led to further price hikes.
  • Millennial customers are now cash-strapped—kids, stagnant jobs, and debt mean they’re trading down.
  • "Millennial stocks are facing the triple pain." (B, 09:22)

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2. Walmart: From Villain to Hero

(Segment begins ~09:35)

• Main Story:
  Doug McMillan’s retirement as Walmart’s CEO caps off an extraordinary turnaround—Walmart's stock quadrupled in his 11-year tenure, and now boasts an all-time high valuation near $1 trillion.

  • "Walmart’s gone from corporate villain to corporate hero. From Voldemort to Superman." (B, 00:56)
  • "It's the biggest retailer on earth...the biggest grocer in America." (A, 10:46)

• Strategic Moves:

  • McMillan’s key play: Raising Walmart’s average worker pay by 90% over 11 years.

    • Minimum wage: $7.25 → $9.00 → $10.00 → $11.00 → $14.00
    • Over 1.6 million workers now make double what they did a decade ago.
    • "In 2015, Walmart greeters handed out smile stickers... today, they might actually smile because they’re paid so much more." (A, 13:10)

  • Attracting higher-income shoppers by innovating with e-commerce and convenient perks (e.g., buy online, pick up at store).

  • Walmart is now seen as a savvy place for savings, with even high-income shoppers "humble-bragging" about great deals.

• Takeaway:
  "McMillan’s Walmart turnaround lesson: Pay more, perform better." (A, 12:22)

  • Investment in people underpinned the turnaround—not just tech spending.

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3. The Mini-Soap (Microdrama) Boom

(Segment begins ~15:50)

• Definition & Backstory:
  Microdramas are ultra-short, addictive video episodes—usually about 90 seconds each.

  • In China, microdramas now out-earn the movie box office ($7B/year in China, $1B/year in the US).
  • The format’s roots go back to Quibi (2020), which failed in the US but was reborn in China with a better business model.

• How Microdramas Work:

  • Typically adapted from sensational fantasy novels ("fantasy smut"), shot quickly and cheaply, loaded with cliffhangers.
  • Episodes end on a dramatic note—example: "The father of the baby is a billionaire werewolf." (A, 01:19)
  • "I watched the first three episodes of 'I Had a Baby With You,' but I watched the whole microdrama in just four minutes." (A, 17:20)
  • Viewers can watch for free, but to keep going must watch ads or pay (often a few cents per episode).

• Business Model & Cultural Impact:

  • The rise of frictionless micropayments is unlocking massive revenue.
  • Fans can end up spending more than they would on a full Netflix subscription, drip-feeding payments to fuel the habit.
  • "When you unlock micropayments, you unlock micro industries." (A, 19:53)

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4. Quickfire: Silicon Valley’s Mini Facelift Trend

(Segment around 01:30–03:09)

• Men in tech are getting cosmetic surgery to “shave off” years due to age pressures in Silicon Valley.
• "Male facelifts are up 25% since the pandemic... eyelid surgery is up 50%." (A, 02:23)
• Joked as an “investment in getting a job with Peter Thiel,” reflecting industry bias for youthfulness.

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Notable Quotes & Moments

• On Silicon Valley Age Complex:
  • "Peter Thiel once said he would never hire anyone over the age of 30." (B, 01:59)
• On Sweetgreen:
  • "The price for us four people was $74... $18.50 per salad. None of us even got protein on top." (A, 06:10–06:21)
• On Walmart’s Shift:
  • "Today, Walmart’s kind of a cool place to shop… people are humble-bragging about the money they saved." (A, 11:04)
• On Microdrama Plotlines:
  • "The heroine's husband’s brother has twins with her mom’s step uncle... and wait, he’s also a trillionaire merman." (B, 18:04)
• On Micropayments:
  • "Micropayments… are in video games here already, but they haven’t hit mainstream American digital commerce quite yet." (B, 20:31)

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Important Timestamps

• 00:33 – 03:09: Tech guy mini-facelifts in Silicon Valley
• 05:30 – 09:22: Millennial brands’ stock decline — why Sweetgreen, Warby Parker, Allbirds are tanking
• 09:35 – 13:39: Walmart’s turnaround: CEO Doug McMillan’s impact
• 15:50 – 20:37: Microdrama apps: how short-form, snackable stories are skyrocketing
• 20:43 – 21:16: Takeaways recap

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Key Takeaways Recap

(20:43–21:16)

• Millennial brands are at stock market lows because of a “triple pain” of price hikes from inflation, waning venture subsidies, and cash-strapped customers.
• Walmart’s stock is soaring thanks to a tough CEO who raised worker pay by 90%, making Walmart both “cool” and profitable.
• Microdramas thrive by monetizing with micropayments, proving that small payments can unlock huge new industries in digital entertainment.

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Additional News Highlights

(21:36–22:48)

• Callaway Golf reportedly selling Topgolf at a loss, reflecting post-pandemic slowdown.
• Warren Buffett (Berkshire Hathaway) invests $4.3B in Alphabet/Google—only his second major tech play after Apple.
• Hemp Products: Hemp-based CBD products unexpectedly made illegal again in a government funding bill.

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Best Fact Yet: T Boy Trivia

(22:54–23:25)

• Changing “Department of Defense” signage cost the US government $2 billion.
• 14-year-old Suvir Mirchandani once pitched the US government an idea to save $400 million—details left as trivia.

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Tone of the Episode

Playful, witty, and fast-paced. The hosts punctuate detailed business insights with pop-culture references and banter, making complex business news engaging and very relatable.

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For listeners who missed the episode: You’ll come away with a sharp sense of current business pop-culture upheavals—why salad chains and millennial brands are floundering, how Walmart pulled off a retail redemption, and how US mobile users are now binging “mini-soaps” that started life as a Quibi flop, all thanks to the rise of micropayments. Plus some surprising cultural and tech trends from Silicon Valley.

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Transcript

[A]

This is Nick, this is Jack.

[B]

Welcome back to the funnest place in finance. It is Monday, November 17, and today's pod is the best one yet. This is a T boy.

[A]

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

[B]

Jack, it happened. I heard it. It's real.

[A]

What happened?

[B]

Mariah Carey, All I Want for Christmas. Already heard it on the radio this weekend.

[A]

Dude, we watched all three versions of the Grinch this weekend.

[B]

Besties, add it all up and yeah, you gotta order the gifts today, Jack. Three stories for today's PO what do we got on the T boy?

[A]

For our first story, it's the millennial cringe stock market, Every brand that millennials love is tanking on Wall Street.

[B]

Sweetgreen, Warby, Allbirds, all struggling right now because millennials can't afford them.

[A]

And also because of a triple whammy of costs. For our second story, Doug McMillan is retiring from Walmart after raising worker pay there by 90%.

[B]

Walmart's gone from corporate villain to corporate hero. From Voldemort to Superman, and it's thanks to their wartime ce.

[A]

And final story. Four of the top apps in the App Store right now are micro drama apps.

[B]

Mini dramas.

[A]

What's a micro drama? It's 90 second episodes of addictively trashy TV.

[B]

But besties, if you want to see the ending, you're gonna have to pay a buck. Spoiler.

[A]

The father of the baby is a billionaire werewolf.

[B]

Classic Jack.

[A]

But yetis, before you hit that wonderful.

[B]

Mix of stories, fantastic mix to kick off the week. No one else is doing that mix.

[A]

Do you have a buddy who works in tech as an engineer, but do.

[B]

They suddenly look 10 years younger it.

[A]

That they're part of a new trend in Silicon Valley? Mini facelifts for men.

[B]

That's right. Just like your grandma down in Florida. Tech guys in Cali are getting a lift these days.

[A]

True story sent to us by a listener, Maneesh Parikh. He found it in the Wall Street Journal.

[B]

And this story. It's never looked better, baby.

[A]

Here's the context. The tech industry has a bit of an age complex, a particular phobia for aging.

[B]

Peter Thiel once said that he would never hire anyone over the age of 30.

[A]

I guess he wants people with the stamina to work 100 hour work weeks.

[B]

That's exactly what he's doing, Jack. So there is pressure to look so young you don't even know what an ipod is.

[A]

Knowing what Napster is is a red flag.

[B]

And that's why engineers in their 30s are getting a little Neck pinch.

[A]

They wanna look like they're interns.

[B]

Oh, you work in tech and you don't believe us? Well, we got the data on that in San Francisco.

[A]

Male facelifts are up 25% since the pandemic.

[B]

Eyelid surgery, it's up 50% since the pandemic.

[A]

If Nip Tuck came back for a season seven on fx, it'd be a very different kind of season.

[B]

Oh, and if what show Jack's talking about right now, then yeah, you're probably part of this trend.

[A]

Oh, and since each operation costs about $50,000 at least.

[B]

Jack, that pairs perfectly with your annual holiday bonus, man.

[A]

Correction, it doesn't cost $50,000.

[B]

It's an investment in getting a job with Peter Thiel.

[A]

So, besties, if your PM buddy at Google says they're getting some work done.

[B]

Right now, could it be some FIGMA design work?

[A]

Could be account management work.

[B]

Or it could be some chin work.

[A]

Is that HSA approved? I don't think so.

[B]

Doesn't matter. It's a write off. Let's hit our three stories.

[A]

I don't think it is a write off yet.

[C]

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

[B]

So just start the show, start the.

[A]

Show, Start the show.

[B]

First, a quick word from our sponsor.

[A]

This show is brought to you by Better Help Yeties.

[B]

You know what time of year it is? It ain't engagement season. It's postponement season.

[A]

Not like postponing your wedding. We're just talking about postponing a social event.

[B]

Yeah, like days getting shorter, air's getting colder, you're taking a rain check.

[A]

Winter is coming. It's the time of the year that people start to get disconnected from friends.

[B]

Okay, but then when you do finally meet up with your buddy Timmy and your friend. Friends. It's exactly what you needed. And you think, why didn't I do this sooner?

[A]

And for us, that's what starting therapy was like.

[B]

That's right. Jack and I are in way better control of our feelings. We know ourselves much better today than we did five years ago in our pre therapy era.

[A]

Well over 5 million people worldwide have chosen BetterHelp to start therapy with over 30,000 therapists on that single platform.

[B]

Jack. You can't postpone those numbers this month.

[A]

Don't wait to reach out. Whether you're checking in on a friend or reaching out to a therapist yourself, BetterHelp makes it easier to take that first step.

[B]

And our listeners, you, you get 10% off your first month at betterhelp.com t boy that's betterhelp.

[A]

H E L p.com/t boy Netsuite Yeti's.

[B]

New thing, the AI Flex. Acting like you're using AI all the time. But are you really?

[A]

Yeah. What if your competitors use it more than you?

[B]

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

[A]

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

[B]

If we needed this product, it's what.

[A]

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

[B]

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

[A]

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

[B]

For our first story, Sweetgreen stock fell to an all time low last week. This is the slop bowl recession, but.

[A]

There'S actually a much bigger story here because every millennial brand is near an all time low right now. It's the millennial cringe stock market Yetis.

[B]

This story kind of begins earlier this month when Jack and I had most of our team with us in San Francisco and we took them out to the sweetgreen right down the street in Soma.

[A]

I love the sweet green product. We've interviewed the co founder before. The pesto chicken salad is unbelievably delicious and somehow under 700 calories.

[B]

I'm more of a customizing guy, but I end up with pesto 99% of the time.

[A]

Jack. But the price for us four people was $74.

[B]

Besties Guac is always extra, but apparently now so are the roasted sunchokes these days.

[A]

$18.50 per salad. None of us even got protein on top.

[B]

And that explains Sweetgreens latest earnings.

[A]

Sales fell 10% last quarter. Foot traffic at their stores fell 12% last quarter. And the new healthy French fry did not take off.

[B]

Sweet Greens got no profit and they just sold off their robot salad kitchen technology in order to raise cash for the company.

[A]

And the stock is down to an all time low.

[B]

Yet he's added all up and hold the hummus. Sweetgreen is now worth under $1 billion.

[A]

In this case, we can't use lift as a unit of measurement. Or actually I can, but I have to use fractions. Sweetgreen is worth 1/12 of a lift.

[B]

Now, yetis the term du jour for this situation is the slop bowl recession, which we don't really like that term. Right, Jack?

[A]

I think what's being served in the bowls is delicious and healthy and fresh. I don't know why we call it slop.

[B]

It's actually pretty organized. Like usually you got the carrots on one side and you got the cabbage.

[A]

On the the slop bowl recession. Because it's not just sweetgreed. Chipotle and Cava are facing the same exact sales shrinkage.

[B]

But besties. This is actually bigger and wider and goes across industries. It is a phenomenon that we call millennial stock. Cringe brands we love from the past.

[A]

Decade are all at all time lows.

[B]

All right, four eyes, let's start with Warby Parker. The hipster chic eyeglasses icon is down 70% from their all time high.

[A]

The only store that rivals Apple in terms of how clean and nice it looks inside.

[B]

It is very eat off of itable. Allbirds once worth $2 billion. Their shoes were in the closet of every CEO in San Francisco.

[A]

But Allbirds stock is down 99%. The whole company is worth just $43 million. Mark Zuckerberg pays some engineers more than that company's worth.

[B]

True story. Casper Mattress. They woke up to this trend years ago. They went private. You can't even buy the stock these days.

[A]

It's not just direct to consumer companies. They though basically if any brand bought an ad in the New York city subway in 2015 and hyped themselves as organic and used very clean branding, well.

[B]

Now their stock is down near an all time low and no amount of.

[A]

Curried cauliflower can fix it.

[B]

And the reason is our takeaway. So Jack, what's the takeaway for all our buddies looking at the millennial cringe stock market?

[A]

This isn't a triple play. It's the triple pain.

[B]

Yetis, all these companies in all these different industries have been hit with the same triple whammy of pains.

[A]

All of these companies offered artificially low price at first because they were subsidized by venture capital.

[B]

True.

[A]

But after the ipo, the subsidies went away and they had to raise prices.

[B]

All these companies faced general inflation the last few years, so they had to raise prices even more.

[A]

And all these companies, millennial customers, are now facing Job stagnation, so they can't pay as much and are trading down to cheaper options.

[B]

Add it all up. Besties and prices pop. From harvest bowls to eyeglasses to wool sneakers.

[A]

But the millennials who used to buy them might have kids now and are saving money instead.

[B]

Oh, and the dinks out there, they have jobs to worry about and debt, so they got to pass on that extra guac order.

[A]

We're rooting for them, but the timing is tough.

[B]

Right now, millennial stocks are facing the triple pain. For our second story, Walmart CEO turned the company from villain to hero. From Voldemort to Spider Man. He fought back Amazon and he defeated Target.

[A]

But now he's retiring. So we're looking at his most strategic move, the 90% pay raise across the company.

[B]

Jack, let's start with some historical context. The era of retail warfare. Tell me about it.

[A]

In 2014, Walmart had just fallen out of the top 10 list of most valuable companies in America for the first time in 13 years.

[B]

Funny timing, Jack, because guess who joined the top 10 list that same year?

[A]

Amazon. Amazon, a weapon of mass commercial destruction.

[B]

Besties. Walmart, just like Circuit City and Radio Shack, was doomed because of E commerce.

[A]

And on Walmart's physical flank was Target, the high end Walmart.

[B]

Basically, Walmart customers were defecting over to.

[A]

Target or they were defecting over to Amazon. So when Doug McMillan took over as CEO that year, he was a wartime CEO.

[B]

And last week when Doug retired, he retired with the highest valor.

[A]

Because Walmart stock has shockingly quadrupled in his 11 years to a new all time high.

[B]

Sit down, stand up and ask for help in aisle 6. Yetis. The data is clear. The data's clear that Walmart is back and better than ever.

[A]

It's the biggest grocer in America. It's the biggest retailer on earth.

[B]

It's the biggest. Biggest. But anecdotes also prove Walmart's glow up.

[A]

Because 10 years ago, a millennial wouldn't get caught dead shopping at Walmart.

[B]

Millennial Millie, Are you kidding me? Today though, Walmart's kind of a cool place to shop.

[A]

Just like Costco. People are humble, bragging about the money they saved by shopping at Walmart.

[B]

Oh, I'm sorry, you paid full price for Lulu. I got these dupes I'm wearing right now over at Walmart in aisle six.

[A]

Walmart' become an economic melting pot. The percent of high income American shopping there is at an all time high.

[B]

They're lured in by the E commerce that matches Amazon and The fiscal perks that Amazon can't match.

[A]

When I was in Florida, I was going to the beach. I ordered sunblock on Walmart, picked it up at the Walmart that was right on the way to the beach. Amazon can't match that.

[B]

And I know you like your sunblock, Jack. Well, acquiring Jet.com in 2016, that was Doug McMillan's playing catch up in the industry of E commerce.

[A]

But Walmart also transformed during this era from corporate villain to corporate hero.

[B]

It became like the Batman of corporate responsibility over here.

[A]

Right. In 2015, Bernie Sanders was campaigning for president and he singled out Walmart for paying, and I quote, starvation wages to the staff.

[B]

Well, shockingly, Doug, CEO of Walmart, actually agreed. So he jacked up worker pay a whopping 90% more in the last 11 years.

[A]

Now Bernie still calls out Walmart.

[B]

Yeah, he's got some issues with it.

[A]

But they've made major progress on pay. And it leads to our takeaway.

[B]

Yes, it does. So, Jack, what's the takeaway for our buddies over at Walmart?

[A]

McMillan's Walmart turnaround lesson. Pay more, perform better.

[B]

Yes, Yetis. Walmart's smart investments in tech helped it fend off an Amazon attack.

[A]

But its investments in people set the tone for the company's glow up.

[B]

Get this. McMillan's first big move as CEO of Walmart was to raise the minimum wage from 7 bucks 25 cents an hour to 9 bucks an hour.

[A]

Then he raised the minimum wage again to 10 bucks an hour, then 11 bucks an hour, and today 14 bucks an hour.

[B]

Hey, Jack, what did Wall street think of all these pay raise moves?

[A]

I mean, they hated it.

[B]

Oh, hated it. Yeah. Always low prices. That's supposed to mean always low wages too, to the investors.

[A]

Today, the average worker gets paid 90% more than 11 years ago when Doug McMillan began Besties.

[B]

We're talking 1.6 million American workers getting paid double than they did a decade ago.

[A]

In 2015, Walmart greeters handed out smile stickers. Remember those? They were yellow. Today, they might actually smile because they're paid so much more.

[B]

It's lower turnover costs, improved customer service. It's brought in a higher income crowd from the Upper west side.

[A]

And it's even won over the love of Wall street, thanks to the nearly 1 trillion valuation Walmart has today.

[B]

The big reason Doug McMillan quadrupled Walmart stock, because it's a great place to work.

[A]

McMillan's corporate lesson is if you pay more, they'll perform better.

[B]

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[A]

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[B]

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[A]

I recently got a booking request from somebody who said, I'm a 75 year old professor from Michigan. Me and my academic pals are having a ski trip. I love your place.

[B]

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

[A]

I responded that I went to the University of Michigan for two graduate degrees. Nick. It turns out he did too. In fact, we worked in the same econ department when I was a TA there.

[B]

It's a match made in platform history.

[A]

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

[B]

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

[A]

We haven't told you about the wonderful human interactions you can have as an Airbnb host like mine with this 75 year old PhD who loves the Michigan Wolverines as much as I do.

[B]

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

[A]

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

[B]

Besties. No joke. Jack's very satisfied.

[A]

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

[B]

Third and final story. It's a brand new industry. Micro dramas, the freaky second cousin of Hollywood movies. 90 minute shows being cut up into 90 seconds. Addictive episodes.

[A]

In China, micro dramas are way bigger than the box office movie industry.

[B]

And now they're coming here. But yetis, our story really begins back in 2020. And Jack, it begins with Shrek, right?

[A]

It begins with the creator of Shrek, Jeffrey Katzenberg, who launched Quibi. We covered it on this pod, but unfortunately, Quibi never became a verb.

[B]

Quibi was short for quick bites. It was premium shows, but to be watched on your phone. 10 minute long episodes.

[A]

A new industry was created. Microdramas. Super short episodes of TV on your phone.

[B]

But unfortunately, after just six months, Quibi burned through a billion bucks and fell apart.

[A]

They ended up selling their entire catalog to roku for just $100 million. Microdramas as an industry appeared dead.

[B]

But yetis, some enterprising entrepreneurs over in China saw Quibi fix the business model and made it work.

[A]

And today in China, microdramas generate more revenue than box office movies do.

[B]

They remix the business. And here comes the new plot twist.

[A]

After China copied the idea from Quibi, now we're copying the idea back from China. It's come stateside.

[B]

But here's the best part of the story, Yetis, because Jack dove in T boy style for like three hours while we were prepping the show.

[A]

No, no, no, Let me stop you right there. Let me, let me tell the story. I watched the first three hours episodes of I had a baby with you, but I watched the whole micro drama in just four minutes.

[B]

Yeah, again, I had a baby with you is an example of a very popular micro drama right now.

[A]

And here's how you make a micro drama. You basically grab an airport fantasy novel and then turn that into a screenplay.

[B]

You ruthlessly cut out the parts that aren't essential. So it's just the steamy juice. Cut.

[A]

You hire some budget actors, a budget set and some rando directors and record the whole video production in 90 minutes.

[B]

And here's the plot. The heroine's husband's brother has twins with her mom's step uncle on the family vacation during Christmas. And wait, he's also a trillionaire merman.

[A]

Somebody described it as fantasy smut. And I can tell you, because I watched the first three episodes, I had a baby without you is very much that.

[B]

Yeah. Wait, Jack, be real with us. Was it the first three episodes of the first 13 episodes? What was it?

[A]

It was extremely addictive, I'll give you that.

[B]

Well, either way, These companies then slice that entire 90 minutes into 57 total episodes, give or take.

[A]

And each episode ends with an epic cliffhanger. It's the digital equivalent of a page turner.

[B]

But yetis, here's the catch and the profit, puppy.

[A]

To turn the page, you have to watch an ad or pay some money.

[B]

Boom. There is your industry. Quibi had the right product, but the wrong business model.

[A]

Instead of a monthly subscription of 10 bucks a month, do the freemium model let people consume it for free with ads or pay to skip the ads.

[B]

Oh, and if they want to find out if the merman trillionaire ends up with his ex wife's cousin, they're gonna have to pay an extra 10 cents.

[A]

Quibi also should have made the episodes shorter, like these microdramas do not. 10 minutes per episode, 90 seconds per episode.

[B]

But the microdramas did it. And Jack, what's The result?

[A]

A $7 billion a year industry in China. That's what microdramas is. Oh, and microdramas are already in the US Making a billion dollars of revenue per year.

[B]

We're talking drama, box net, short, good short, real short. Where are they in the rankings?

[A]

Man, these are all apps in the top 200 in the Apple App Store right now.

[B]

And they're so high up because people are hooked.

[A]

People end up paying probably way more than they intended to, to keep watching these steamy dramas. You end up paying more than Netflix.

[B]

Nick, besties. If Jack keeps watching a season a day, as he's currently been doing, Amex is going to cut them off. But seriously, it adds up to more than a Netflix subscription. So, Jack, what's the takeaway for our buddies over in the microdramas?

[A]

When you unlock micropayments, you unlock micro industries.

[B]

Yetis, have you ever hit a news article paywall and wished you could just buy that one article? Not like the whole newspaper subscription, not the whole month.

[A]

Well, in China you can, because micropayments are commonplace there.

[B]

With micropayments with one quick tap to pay $1, digital commerce can happen at a smaller scale.

[A]

Like microdra. I can't watch past episode 18 of I Had a baby with you unless I start paying money.

[B]

The micropayments concept, it's broken down our economy into ironically quick bites.

[A]

Instead of a whole meal, you can order any product a la carte. Just a quick little bite for a buck.

[B]

Micropayments. They're in video games here already, but they haven't hit mainstream American digital commerce quite yet.

[A]

But when they do, they'll unlock entire micro Industries.

[B]

Jack, could you whip up the takeaways for us to kick off the week?

[A]

Sweetgreen stock is at an all time low. So has every other brand that got big as millennials came of age.

[B]

It's the millennial cringe stock market because of the triple whammy of pains.

[A]

For our second story, Walmart stock is at an all time high as its wartime CEO retires with honor.

[B]

His boldest move to go from villain to hero, raising average worker pay 90%. That's why Walmart is booming.

[A]

And our third and final story are microdramas. They're China's most addicting version of what Quibi tried to do.

[B]

And now they're here in the States too. Micropayments are the key to unlocking micro dramas. Jack, I'm sorry, I have to take away your phone. One sec, one sec. Sorry, guys, one sec. Yetis. All right, give it over. Give it up, bud. All right. Okay, okay.

[A]

It's a steamy show, I won't lie. Proceed with caution. But, besties, this pod's not over yet. Here's what else you need to know today.

[B]

First, Callaway Golf is reportedly close to selling Topgolf to a private equity firm for one billion bucks.

[A]

Awkward for Callaway because they paid two and a half billion for topgolf just four years ago.

[B]

You're gonna want to call four on this one. Topgolf was extremely fun during the pandemic. A pandemic friendly activity, really.

[A]

But topgolf sales have slowed big time since the pandemic.

[B]

And second, Warren Buffett, the patron saint of profits, made a surprising new investment. Google.

[A]

Berkshire Hathaway just revealed a $4.3 billion investment in Alphabet that they made in September.

[B]

The only other tech investment we know of that Warren's made is Apple.

[A]

But now, Warren Buffett, who is stepping down next year as Berkshire Hathaway CEO, is betting big on Google.

[B]

And finally, a strange business victim of the government shutdown. It's cannabis. Hemp.

[A]

A low THC version of cannabis was legalized in 2018 nationwide.

[B]

But then, shockingly, the new bill to reopen the government last week. Illegal hemp again.

[A]

Some politicians slipped it in there last second. I don't even know if anybody noticed.

[B]

So hemp based gummies, drinks, vapes, those will all be illegal at a federal level.

[A]

Once again, Maui Wowie.

[B]

Now, time for the best fact yet. This one, because it's Monday, means T boy trivia. And we whipped it up for you.

[A]

We just learned that the Department of Defense changing their name to Department of war actually cost $2 billion in terms of new signage and new stationery.

[B]

Yeah, it actually cost 2 billion bucks to change the name. Which reminded us of a 14 year old kid who had the opposite effect on the government. Ten years ago, this 14 year old.

[A]

Kid had an idea to save the government $400 million a year.

[B]

So besties, our trivia question to you today. What was the creative idea that this 14 year old kid had that saved the government 400 million bucks?

[A]

The kid was severe merchandandy and let's hope he got into Harvard because of this idea.

[B]

Yetis, you look fantastic to kick off the week. Jack, you're looking fantastic as well over there.

[A]

Thank you, Nickus. I'll see you later this week in New York City. That's gonna be a fun one.

[B]

Oh yeah, I know we're funny. We got the big interview this week. This is gonna be awesome, man.

[A]

I'm flying in and out same day, but I think we'll have time for a burger.

[B]

I think we'll have time for a couple sweet green salads, Jack. And maybe 20 bucks a salad. That's a write off when we're together.

[A]

That is a write off. That actually is.

[B]

This time, besties, if you haven't yet, drop down to give us five stars, a rating and a review. Jack and I love reading them and.

[A]

Nick and I will see you tomorrow.

[B]

It helps us grow the show. If you know, you know.

[A]

See you there.

[B]

And before we go, a happy birthday to my wonderful mother, Alice Martell from Philadelphia, but living in New York. She is the queen of midtown books.

[A]

And happy birthday to Phil Albright, turning 36 years old in Atlanta, Georgia.

[B]

And happy birthday to Alex, his mom in Ocean Isle Beach, North Carolina. She is a mama with a great birthday.

[A]

And happy birthday to Dave Franzell, the king of the Upper west side who recently recommended I go to Celeste. Dave, you didn't tell me it was a cash only establishment. Thank goodness they accepted Venmo.

[B]

Congrats to Dave, cybersecurity firm Naxo, who just did a deal with Google to stop spam texting.

[A]

Congratulations to Alyssa Cervelino and Kennedy Tornay, who got engaged in Tampa, Florida.

[B]

And Matthew Canellor is Moving on after 14 legendary years of just doing it over at Nike.

[A]

Happy seven year anniversary to Jess and JP Moralda in Hopedale, Massachusetts. And they're welcoming baby number three next year. And to anyone else celebrating something today, make it a T, boy.

[B]

Celebrate the wins.

[A]

This is Jack. I own stock of Warby Parker, Netflix, Berkshire Hathaway, and Lyft and Nick and I both own stock of Apple and Chipotle. If you like the best one yet, you can listen ad free right now by joining Wondery plus and the Wondery app or on Apple Podcasts.

[B]

Prime members can listen ad free on Amazon Music.

[A]

And before you go, tell us a little bit about yourself by filling out a short survey at wondery. Com Survey.

[B]

We want to get to know you.