← The Best One Yet
The Best One Yet
👊 “Real Housewives of Tech” — Elon vs. Altman. Spotify’s Peloton hookup. Ube’s viral surge. +Wedding Dress Ozempic
00:20:02
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- [00:01]
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This is Nick, this is Jack.
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It's Tuesday, t boy. Tuesday, April 28, and today's pod is the best one yet. This is a T Boy.
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The top three pop business news stories you need to know today.
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Welcome back to the coolest place in capitalism.
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Jack.
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We got three fantastic stories today, do we not, my friend?
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Spotify and Peloton are now one app.
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Wow.
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It's music streaming with a side of burpees.
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Yetis, this Spotify Peloton deal can be explained by one celebrity couple.
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For our second story, UBE is a purple fruit native to the Philippines that Americans have become gaga for.
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And UBE is one example of a business opportunity we call cultural arbitrage.
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And our third and final story is Elon Musk versus Sam Altman. It kicked off yesterday in a courthouse in Oakland.
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Yetis, this ain't a legal trial. This ain't a civil trial. This is a spite trial.
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But Yetis, before we hit that wonderful mix of stories, I mean, what did we tell you?
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What a mix. Love the show, Jack.
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The wildest new wedding trend is the Ozempic wedding dress.
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More specifically, Jack, the Ozempic emergency wedding dress.
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Correct. Because according to the Wall Street Journal, brides to be are using GLP1s before their weddings.
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Because 1 in 10 weddings now involve a little bit of Wagavy these days.
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But Nick, the weight loss drug works so well that their dress doesn't end up fitting on their wedding day.
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Well, what we're saying, besties, is all this weight change is messing with the dressing.
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So when brides are buying the dresses, they're waiting as late as possible to
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lock it in because their bodies are changing as much as possible.
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Get this. Rush orders at David's bridal are up 50% in the last two years.
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Oh, and Taylo requests just hit an all time high.
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Bridal stores feel so vulnerable. They've gotten the lawyers involved because you
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do not want to be held liable if the dress do not fit. Jack.
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So now when you buy a dress, you need to sign a waiver. No joke.
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Yeah, that's right. Can't sue Vera Wang if that dress starts to hang.
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So the dress said, I do. But the Ozempic said, we'll see.
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At least the veil ain't going anywhere, Jack. No offense, baby. Jack. Let's announce three stories.
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Fifteen years before this song, two boys from the northeast met in the dorm. They had an idea to cause a cultural storm. 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 start the show Start the show.
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First, a quick word from our sponsor,
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Monarch.
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All right, Yetis, you're never gonna be able to guess how many accounts Jack has linked to monarch. 31. 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
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accounts for each kid. And my nieces and nephews. Nick.
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Okay, I'm rounding up. Does that get us to 31? Where are we?
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Don't forget my mortgage, my house, the car I own. They're all linked. And all their values. In Monarch, you see? Besties.
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Jack actually linked everything to Monarch one year during a little bit of spring cleaning.
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Until I used Monarch, I had a very messy, very chaotic spreadsheet. But now they're clean, synced, and automatic.
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Basically, Jack went full Marie Kondo on his finances. And he did it with Monarch, which can do your financial spring cleaning for you.
- [03:20]
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One dashboard that gets your entire financial life organized. No more clutter, no more mess, no more scattered logins. Just logins. Investments, property, and more, all in one place.
- [03:29]
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Get your first year of Monarch for half off, just 50 bucks with promo code tboy.
- [03:33]
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Use code tboy@monarch.com to get your first year half off at just $50.
- [03:38]
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That's 50% off your first year at monarch.com with code T. Boy.
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ZipRecruiter.
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Yeti's the devil Wears Prada. The reason Miranda Priestly was perfect as editor in chief of Runway. It wasn't just her skills. It was her passion. That cerulean monologue. Oh, that was so good.
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Silk runs through her veins, Nick.
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Yeah, her blood type is cashmere.
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Jack, 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.
- [04:04]
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And now you can try it for free at ZipRecruiter.com.
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t Boy ZipRecruiter's powerful match technology finds qualified candidates quickly.
- [04:11]
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And ZipRecruiter has a new feature that shows you the most interested qualified candidates first. So you meet the right people faster.
- [04:18]
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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.
- [04:25]
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And one of them is your Miranda. Find her before someone else does.
- [04:28]
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With ZipRecruiter, find candidates who really want your job on ZipRecruiter.
- [04:33]
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Four out of five employers who post on ZipRecruiter get a qualified candidate in the first day.
- [04:37]
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Try it for free@ziprecruiter.com TBOI that's ZipRecruiter.
- [04:42]
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Meet your match on ZipRecruiter. For our first story, Spotify is launching a fitness hub with Peloton, the new music and fitness power couple. Baby, here it is.
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Spotify already has your running playlist. Now they want your living room home workout too.
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Yeti's funny thing about this story, Jack and I noticed three months ago we predicted Spotify should launch Spotify Sweat.
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Yesterday they grabbed some aloe leggings and they did it and then some because
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there were already 150 million active fitness playlists on Spotify. So Jack, what was our idea back on January 20th?
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That they add video workouts, which are basically podcasts, and also guided audio workouts to Spotify.
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Well, starting yesterday, it is here. Fitness with Spotify.
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The only part of her idea they didn't use was the name, but it's Fitness with Spotify. So now on audio, you can get guided workouts on your Spotify app, picture,
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choreographed jog, sprint interval runs to different
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music jams, and on Spotify video, there's a whole library of different workouts that you can do from your living room,
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basically toes to top of your head, body weight, strength, mat, pilates, stretching, yoga class, everything but the reformer.
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So now when a hot fitness model tells you that the hardest part is already over because you showed up, yeah, that can happen on Spotify.
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But yet is the first thing that Jack did when he heard this story actually reveals a very interesting business problem. What'd you do?
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The first thing I did when I heard this story is I canceled my Peloton subscription because the flagship content provider for Spotify fitness is Peloton.
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That's right. If you want to understand this deal, it's like Taylor Swift hooking up with Travis Kelce. You got music and muscles in one partnership, Jack.
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Starting yesterday, for no extra cost, Spotify premium subscribers now get access to 1400 non bike peloton workouts.
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So the way Jack and I see the strategy here is that that Peloton is kind of playing a game of subscriber chicken, if you will.
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Peloton will lose some direct subscribers like me, but they'll gain exposure to Spotify's nearly 300 million paid subscribers.
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To quote ESPN, the Ocho Bold strategy, Cotton let's see if it works out for them.
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Also on Spotify's free version, you can now get workouts from dozens of established creators who are not on Peloton Yoga
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with Cassandra, Sweaty Betty, Chloe Ting, Home workouts. We've seen them before.
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They all built an audience on YouTube but now they're available on Spotify video as well.
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So the way Jack and I see this, for Peloton it is a self defensive survival move.
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But for Spotify this is an attack move against Apple and YouTube.
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It's an attack on YouTube because Spotify poached YouTube creators from their native platform, albeit non exclusively.
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And Nick, the new tech power couple of muscles and music. Yeah Jack, it's Apple Music and Apple Fitness on one side, Spotify and Peloton on the other.
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Yeah, basically Jack, Spotify was on the squat rack and yelled spotter.
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And then Matty Majimo showed up and gave him a spot.
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So Jack, what's the takeaway for our Taylor Swift Travis Kelce hookup buddies of Peloton and Spotify.
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In media, it's an everything war. The winner will be able to increase prices forever.
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All right, Yetis, let's talk numbers here. The old winner of media was cable TV. Americans would drop 100 bucks a month and that increased every year for cable.
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So in media, if you're not growing, you're dying. Which means every media company is striving for that $100 a month end goal.
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We can look at all of them like Netflix. They have shows, movies, sports and soon probably news. And they raise prices every year.
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Disney's bundle has that too. And soon Paramount and Warner Bros. Discovery on YouTube.
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Different strategy is winning. Literally any video you can upload, it monetizes through subscribers and ads.
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So if Spotify wants to not get eaten by those giants that we just mentioned, they need to grow to cover everything as well.
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Well now Spotify has music, podcasts, audiobooks and even hiit workouts.
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And they bundle it on one subscription so they can raise the price on it every year.
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Cause you see basties in media. Every company is targeting the same thing.
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The $100 a month cable TV everything bundle.
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I wanna see you. For our second story. Instagram has turned ube the incredibly purple plant into the viral food of the moment.
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It's an entrepreneurial trick as old as Taco Bell. Cultural arbitrage.
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So yetis funny thing, new spot around the corner from US Q Coffee. Jack, they had a line this weekend that was making Starbucks across the street jealous in Presidio highs.
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The reason is a dish called the Purple Pleasure.
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Yes, an UBE tart that was so purple is making Grimace jealous.
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Actually, Ube, the purple colored yam that's native to the Philippines. It looks like lavender on ecstasy.
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Like if a ninja turtle, Barney the dinosaur and Ursula in a Teletubby got together for dinner, they would be wanting to eat UBE all day.
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The only purple thing, naturally purple, outside of a giraffe's tub.
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And this extreme purple plant tastes, well, delicious. And it also tastes like coconut potato.
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Now, purple is historically the color of the royals because purple is so hard to find naturally.
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Well, UBE is putting up kingly numbers these days.
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UBE appearances on American restaurants has tripled in the last five years.
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UBE is now sold by 95 US restaurant chains. It's out there, baby.
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We have an appetite for aesthetics, especially if it looks like Tinky Winky.
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But Yetis, here's what Jack and I find fascinating. Instagram is driving an UBE shortage right now and it is messing with the whole Filipino economy.
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UBE got its mainstream moment in America in 2022.
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You may remember the Baskin Robbins cream flavor that was really the big breakthrough.
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But last year, Starbucks made it go nationwide. They dropped iced UBE macchiato while supplies last.
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And how did those supplies do, Jack?
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They didn't last because the Philippines makes over half of the world's UBE and exports half of that to the United States.
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Basically, the Philippines has an ugayopoly and that's become a bit of an UBE
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burden because with the surge in American popularity, prices of UBE have doubled.
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So now Filipinos are turning their backyards into UBE farms just to try to meet this huge increase in demand.
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And if this story sounds familiar, it is kind of familiar.
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You know what we're thinking, right, Jack?
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The great matcha shortage that we covered
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on the pod last summer, super similar situation. Green matcha purple, UBE the color of the rainbow. It is a profit puppy baby.
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Like Matcha, UBE faces a biological bottleneck
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because it is a labor intensive nine month cultivation process just to grow a single ube.
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And both are riding the Asian trend.
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Gen Z, they want K Pop, Boba tea and Labubu dolls. We're seeing it everywhere now.
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There's even potentially a future Maha angle
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to UBE like Jack. How is L charms gonna make a purple marshmallow without artificial colors?
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All natural. Skittles. They can't use eggplant skin. They gotta use ube.
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You gotta go all in on ube so basti's the way Jack and I see it, the most underrated business opportunity right now isn't AI. It's geography. Jack, what's the takeaway for our buddies over in the UBE moment?
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It's an age old entrepreneurial trick. Cultural arbitrage. Ah, Yeti's arbitrage.
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That's when something is worth more in one place than in another. At the very same time you can
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by buying the thing in the lower priced market and then selling that same thing in a higher priced market.
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Well, cultural arbitrage is when something is popular in one place but not popular in another. Yet.
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Matcha began as a trend in Japan, but now it's a profit puppy here
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in the us and it's the same with Dubai. Chocolate, Wagyu beef, Taiwanese boba, they all started as common in one region, but they were new, viral and premium in a new region.
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Cultural arbitrage as a business strategy goes way back. Taco Bell was started by a guy named Glenn who noticed how popular tacos were in the Mexican community.
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Sriracha was founded by a Vietnamese immigrant who saw a lack of Vietnamese chili sauce when he got to the United States.
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Saunas. That was a huge arbitrage opportunity.
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Huge cultural arbitrage with saunas, Jack.
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A way of life in Scandinavia now they're a way of life for many here in the States.
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Oh, and they are a luxury here. Besties. We're not saying steal an idea, pretend it's yours with zero recognition of where it came from. You can't do that.
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We are saying that what's popular overseas often eventually becomes popular here once it arrives. And vice versa.
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That's right. Like fast food, Jack, it boomed in America first, but now it's a business model with regional options everywhere.
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It's one entrepreneur's job to make it happen. Call it cultural arbitrage.
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Now a quick word from our sponsor,
- [13:07]
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Hims.
- [13:08]
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Yeti's once in a lifetime technologies are a big deal. You got AI self driving cars, tallow
- [13:14]
A
moisturizer, joking about the tallow, not putting animal fat on our skin yet.
- [13:18]
B
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- [13:23]
A
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B
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A
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A
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- [14:14]
B
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- [14:17]
A
For the moments you plan and the ones you don't.
- [14:20]
B
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- [14:23]
A
You know the moment you're working from a cafe and realize every outlet is
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B
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.
- [14:33]
A
That's why Dell builds tech that adapts to the way that you actually work.
- [14:37]
B
Built with a long lasting battery so you're not scrambling for the closest outlet.
- [14:40]
A
And built in intelligence that makes updates around your schedule not in the middle of it.
- [14:44]
B
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- [14:46]
A
Find technology built for the way you work@dell.com DellPCS built for you.
- [14:59]
B
For our third and final story. It is the biggest billionaire beef in history. Elon Musk versus Sam Altman. Jury selection just began at a court in Oakland.
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Bravo would absolutely kill to film this trial because the whole goal in this courtroom is maximize embarrassment.
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Yetis let's start this story with the list of witnesses in the trial because it is truly Jerry Springer esque.
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Chavon Zillis is the mother to four of Elon's children. Also she was a board member of OpenAI and she's stuck in the middle of this trial.
- [15:32]
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Oh, one of Elon Musk's lawyers. He side hustles as a clown. Literally no joke in depositions.
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We already learned that Mark Zuckerberg side texted Elon during his doge air, cheering him on.
- [15:43]
B
Oh, and Elon's alleged rhino ketamine use. That's part of the trial record too.
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So are Elon's appearances at Burning Man.
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B
Well, what exactly is this craziness of a trial? We are talking about. Jack, why don't you sprinkle on some context, please?
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Elon Musk and his AI company are suing Sam Altman and his AI company in federal court.
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Microsoft is a co defendant aiding and abetting OpenAI's alleged crimes.
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And the legal basis for this lawsuit is that Sam's AI company used to be Elon's AI company, too.
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The news is that jury selection was yesterday. Trial began in a few weeks, and opening arguments start today. But, Jack, let's travel back in time.
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It all begins, Nick, in 2015, when Sam Altman was the head of Y Combinator.
- [16:24]
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And according to Vanity Fair reporting, Sam Altman had become convinced at the time that AI would one day destroy humanity.
- [16:32]
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So, comparing it explicitly to the nuclear bomb, Sam Altman asked Elon Musk to help him launch a Manhattan Project.
- [16:39]
B
But for AI, we have to do this as a nonprofit, Sam Altman told Elon Musk, in order to ensure that AI is used for the good of humanity.
- [16:47]
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So Elon invested $45 million into OpenAI and its founding, based on that pitch from Sam.
- [16:52]
B
Okay, but here's the plot twist. By 2018, Elon thought OpenAI was losing the AI race to Google.
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Google being Nazi Germany in this analogy, apparently.
- [17:03]
B
And so Elon, out of concern, tried to take over as CEO of OpenAI in 2018.
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But when he failed, Elon left OpenAI. And that's when things got dirty.
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Because OpenAI didn't lose to Google, did they, Jack?
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No.
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No.
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They launched ChatGPT in November of 2022 and has been a household name ever since.
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And that is when Sam Altman stopped pretending. He changed OpenAI from a nonprofit to a for profit company.
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So now Elon is suing, arguing that Sam Altman violated the founding agreement that he put 45 million into.
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And he told Sam Altman in a tweet, if you change the name of the company to close AI, I'll drop the lawsuit.
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What does Sam Altman think about this? He thinks Elon's butt hurt. That somebody else is gonna win the race to AI not him.
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B
But butts aside, this is straight up billionaire beef. Andy Cohen, get on it. So, Jack, what's the takeaway for our buddies over in the courtroom?
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Billionaire versus billionaire. This is a spite lawsuit.
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B
Yeah, it's a spite suit. It's definitely a spite suit. Yet Elon is demanding $134 billion from OpenAI's for profit arm to fund its nonprofit arm.
- [18:06]
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And he's demanding the whole company transform to be nonprofit again and to Have Sam Altman fired from the company.
- [18:11]
B
Okay, but despite everything we just said the W about this story, Jack, why don't you share it with the yetis?
- [18:17]
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The $45 million that Elon invested into OpenAI in 2018, that was a handshake deal.
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B
Sit down, stand up and stay seated. Yetis, there is no paperwork.
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That's why it is highly unlikely that Elon wins anything. He doesn't have it in writing.
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B
What we're saying is that it seems that Elon's goal is to cause maximum embarrassment and to delay Sam Altman's IPO of OpenAI.
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This isn't about the court of justice. It looks like it's the court of Bravo.
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C
Yeah.
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The best thing to ever happen to trial lawyers is Elon Musk. And now he's unleashing his full force of juris Doctors on Sam Altman.
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But Sam's no pushover, Nick. Here's what he tweeted about the lawsuit. Really excited to get Elon under oath. Christmas is coming.
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April. Oh, yeah, it is. Billionaire versus billionaire. Billionaire beef. This is a spite suit. Jack, can you whip up the takeaways
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A
for us for T boy Tuesday, Peloton is putting 1400 workout videos in the Spotify app. It's part of what we call Spotify sweat.
- [19:14]
B
It's a Taylor Swift, Travis Kelce deal. Yetis and the game plan and media. Add everything, bundle it, and one day sell it for 100 bucks a month.
- [19:21]
A
For a second story, Ube is the hot produce of the moment. The purple Filipino yam is the new green Matcha.
- [19:27]
B
It's cultural arbitrage. What's popular elsewhere could be popular here and vice versa.
- [19:32]
A
And our third and final story is Elon Musk vs. Sam Altman in federal court. Prepare for juicy and embarrassing details about both of these billionaires.
- [19:39]
B
Oh, besties. This ain't a criminal lawsuit, and this ain't a civil lawsuit. This ain't. This is a spite lawsuit.
- [19:44]
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But, besties, this pod's not over yet. Here's what else you need to know today.
- [19:48]
B
First wild week on Wall Street. We got earnings from the Fantastic Five, don't we, Jack?
- [19:54]
A
Google, Meta, Microsoft and Amazon all announce earnings at the exact same time this Wednesday after hours.
- [20:01]
B
Oh, and then Apple, they report earnings the same time the next day on Thursday.
- [20:04]
A
Plus, Berkshire Hathaway's annual shareholder meeting happens this week for the first time without Warren Buffett as CEO.
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B
It's Coachella for capitalism. Oh, and by the way, King Charles III and Queen Camilla, they arrive in the United States from Britain for a four day state visit.
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A
Second, Michael Jackson just beat Robert Oppenheimer. Not at mash, but in the movies.
- [20:22]
B
That's right. The Michael Jackson movie just had the best opening weekend ever for a biopic, beating the Oppenheimer film.
- [20:29]
A
Controversially, the plot of the movie ends in 1988, before the accusations that tainted Michael's legacy.
- [20:34]
B
But interestingly, Michael's real life. Next, Matthew is the lead star playing Michael in the movie.
- [20:40]
A
And finally, Sebastian SA of Kenya ran the first ever marathon under two hours.
- [20:46]
B
The Kenyan completed the London Marathon in one hour, 59 minutes and 30 seconds, just barely breaking the two hour mark.
- [20:53]
A
But the real winner was Adidas. Oh yeah, because the winner wrote his winning time on his $500 Adidas sneaker that's about to take over every running club conversation.
- [21:03]
B
Like we say, Yetis, marketing's what you pay for. Publicity is what you pray for. Now, time for the best fact yet. This one sent in by Derek Edwards and Meredith Kism from Alabama, who we met at our live show in New York City. That was a blast, guys. And they gave us this fact.
- [21:18]
A
Remember Those Mercedes Benz SUVs and all the Jurassic park movies? Guess where they were made?
- [21:24]
B
They were made in Alabama.
- [21:26]
A
To quote Forrest Gump, in Greenbow, Alabama.
- [21:30]
B
That's right. In fact, these were the very first Mercedes cars to be made in America. They were done in an Alabama plant and they ended up in the Jurassic park movies.
- [21:39]
A
Unfortunately, not Greenbow. It was Tuscaloosa.
- [21:42]
B
Still a win either way. Derek and Meredith, thanks so much for flying all the way from Alabama to New York City for the Lot T Boy show. Yetis, you look fantastic today. Jack, you are glowing for T Boy Tuesday, my friend.
- [21:54]
A
If you got a buddy who's seeking entrepreneurial inspiration, send him the story about the Uwe trend.
- [21:58]
B
Send. Actually, you know what? Buy them some Uwe, then send them the podcast. That way, you know, it sinks in.
- [22:05]
A
To be clear, I'd be happy if you just send them the podcast.
- [22:07]
B
Fine, I'll take Jack's ube tart. Jack, you listen to the podcast and Jack and I will see you tomorrow. And before we go, a happy legendary birthday to Matthias Valenzuela, a Yeti turning 10 in Des Moines, Iowa.
- [22:25]
A
And happy birthday to vahanti, also turning 10 years. This kid has never missed a show down in Dallas, Texas. Thank you for him.
- [22:32]
B
And Go Watanabe listens to the best one yet on weekdays, the best idea yet on weekends, and has the best birthday yet in Newport Beach, California.
- [22:40]
A
Happy birthday to Ello Van Gordon. In San Francisco who's eating lasagna and getting into law school. This kid's headed to Lewis and Clark
- [22:47]
B
and Cindy Mayo in lovely Los Angeles.
- [22:49]
A
Enjoy the birthday Happy birthday to Brett Anzi in Long island and Liam Martin.
- [22:53]
B
Happy 21st down in Dallas.
- [22:55]
A
Happy 28th birthday to Emily D guests
- [22:57]
B
in San Francisco and Nicholas Kilcutti enjoyed the birthday all the way over in Malta.
- [23:02]
A
Happy birthday to Hashim Alawami in Saudi
- [23:05]
B
Arabia and Mia chang just turned 4 years old in Minneapolis. She is bullish on Barbie, bearish on bedtime and compounding interest in this podcast since she was born.
- [23:14]
A
Happy anniversary to Anthony and Lisa Scorsese, who's celebrating three years together in Pennsylvania
- [23:19]
B
and a shout out to the entrepreneurial team behind the Dog Pack app in Montreal. The team's been working day to night to launch brand new features.
- [23:25]
A
Congratulations to Vetra Rusev, who got into Tufts, Georgetown and LSE but is taking her talents to Johns Hopkins.
- [23:32]
B
And finally, a shout out. And good luck to Molly, my wife, who's getting a cavity removed today and having a colonoscopy tomorrow. And I have no idea why she scheduled all this in one week. But as your emergency contact, I support you and I can't wait to pick you up from both.
- [23:50]
A
This is Jack. I own stock of Disney and Netflix. Nick and I both own stock of Apple, Peloton and Spotify. The Drop by GNC Yetis the wellness
- [24:04]
B
space moves fast every day. An influencer is pumping some new product which is ironically named Pump Product and
- [24:10]
A
it'll get you huge even if you don't lift it.
- [24:12]
B
There's creatine in the colostrum in the protein.
- [24:15]
A
GNC actually has experts who cut through all of that and hand pick what's
- [24:19]
B
worth your attention the new ingredients, new formulas and new brands, and health and nutrition you need to know about.
- [24:23]
A
The Drop is the section of GNC that curates the newest products to share with you what actually works.
- [24:28]
B
We're talking trending ingredients, breakthrough formula stuff that's actually going to move the needle
- [24:32]
A
on your goals, whether that's performance recovery or just getting huge.
- [24:37]
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.
- [24:43]
A
Get a sneak peek at the newest formulas, flavors and brands coming soon to gnc.
- [24:47]
B
New drops launch regularly, so there's always something exciting to discover.
- [24:50]
A
GNC.com the drop is the destination to discover something new to try today.
- [24:55]
B
Get the facts you can trust on what's new and trending plan what's next
- [24:58]
A
by browsing the coming soon calendar of drops@gnc.com the drop get the protein in the colostrum.