The Best One Yet — Podcast Summary

Episode: “Reverse Uno” — Tariffs’ mogging. Ice Cream’s exit. Nike’s ACG mystery. +The 1st Handshake
Hosts: Jack Crivici-Kramer & Nick Martell
Date: February 23, 2026
Duration: 20 minutes (business content begins ~05:34)

Episode Overview

This lively episode delivers sharp, accessible takes on the day’s three most compelling business stories:

• The Supreme Court’s dramatic reversal of President Trump’s global tariffs (“Reverse Uno” moment)
• Big food giants Nestlé and Unilever selling off their ice cream businesses
• The intriguing comeback of Nike’s All Conditions Gear (ACG) brand during the Olympics

Nick and Jack blend smart business insights with signature puns, pop culture references, and friendly banter—creating an engaging briefing for business-curious listeners.

Notable Pre-Story Moment: The Handshake That Wasn’t (00:12–03:01)

Context

• Nick & Jack open with the headline drama between AI titans Sam Altman (OpenAI) and Dario Amodei (Anthropic).
• At India’s AI Summit, both avoided each other—even opting out of a staged hand-holding photo op.
• The hosts riff on historical handshakes, discovering that:
  • "It was King Shalmaneser III of ancient Babylon. Thanks, History. To shake hands with another man...was in the 9th century BC" (A/Nick, 02:36)
  • The handshake symbolized peace and trust—unlike Sam & Dario’s icy reception.

Key Business Stories

1. The Supreme Court Strikes Down Trump’s Tariffs (“Reverse Uno”)

Segment: [05:34–10:27]

Key Points

• What Happened:

  • "The U.S. Supreme Court struck down Trump's global tariffs. It's a massive reverse UNO card undoing the President's favorite policy." (A/Nick, 05:34)
  • Tariffs are taxes, and only Congress can tax—not the President via executive order.
  • Emergency powers claimed by the administration didn’t pass Supreme Court scrutiny.

• Immediate Impacts:

  • 25% tariffs on Mexico and Canada, and “reciprocal” tariffs, canceled.
  • Some industry-specific tariffs (e.g., steel) remain legal (about 40% untouched).
  • Massive uncertainty: refunds for businesses hurt by tariffs are unresolved.

• Market Reaction:

  • Stocks of companies heavily sourcing in China jumped (e.g. "ELF beauty makeup...rose 23%," B/Jack, 09:05).

• Data on Tariff Consequences:

  • "The trade deficit grew in the last year. The exact opposite of what President Trump wanted." (A/Nick, 09:51)
  • Manufacturing jobs down by 80,000 last year; inflation up 3% in December.

• Notable Quote:

  • "Tariffs made the Great Depression worse. So for 80 years, it's been a toxic policy and this data shows why." (B/Jack, 10:10)

Takeaway

• "The President should use the Supreme Court's ruling to walk away from this losing policy...It's a cover to quit a losing policy." (A/Nick, 10:27)

2. The Great Ice Cream Exit: Why Conglomerates Are Ditching the Dessert

Segment: [10:42–15:09]

Key Points

• Backdrop:

  • Nestlé and Unilever (the two largest ice cream giants) are divesting their ice cream businesses.
  • "Last year, Unilever, the world's biggest ice cream company, spun off their ice cream business too." (B/Jack, 11:49)

• Why the Exit?

  • Top brass call the ice cream business "a distraction" and "annoying" (A/Nick, 12:36).

  • Three main gripes:

    1. Highly seasonal: "Half the year you basically gotta give ice cream away...Other half, there’s a shortage." (A/Nick, 12:57)
    2. High supply chain costs: Need for refrigerated trucks and storage.
    3. Unpredictable consumer tastes: Fads like "oat milk ice cream," then "whole milk," then "pistachio milk" (B/Jack, 13:16).

  • CFOs hate ice cream for its complexity, despite its universal popularity.

• Metaphor:

  • "Ice cream, beloved by kids and adults alike, hated by CFOs." (B/Jack, 13:53)

Takeaway

• "Sometimes diversification is like rum raisin ice cream. It just doesn't work." (B/Jack, 14:06)
  • Conglomerates are better off streamlining and focusing on what they do best; not all lines mix profitably (see also: GE’s famous breakup).

3. Nike’s ACG Brand: The Olympics Surprise and Strategic Comeback

Segment: [16:47–20:27]

Key Points

• Background:

  • At the Milan Winter Olympics, a mysterious ACG logo appears on U.S. athletes’ gear.
  • "What was that brand all over the Olympics with the three letters? It's ACG and it's actually owned by Nike." (A/Nick, 16:47)
  • "ACG" stands for “All Conditions Gear”; launched by Nike in 1989 targeting the outdoors market.

• Why Relaunch Now?

  • Outdoor/snow gear market is booming.
  • Nike regrets missing the pandemic-fueled trail running/outdoors trend (Salomon, Brooks, etc., have flourished).
  • Nike is reviving ACG to target outdoorsy, but style-conscious, consumers.
  • No swoosh—just stealth branding with "ACG" for Olympic debut.
  • New products: backpacks, gloves, sunglasses, and the revival of the iconic Air Moab trail shoe.

• Strategic Aim:

  • Fill the gap between rugged outdoor brands (Patagonia, Arc'teryx) and urban streetwear.

  • Target: the city dweller who hits the trails on weekends.

  • Notable Quotes:

    • "Nike is hoping to reclimb the mountain by targeting the actual mountain." (A/Nick, 19:27)
    • "The molehills are calling and I must go." (B/Jack, 19:38)

Takeaway

• “ACG is trying to fill the gap between the great outdoors and the streetwear refined city looks.” (B/Jack, 20:01)
  • Nike is capitalizing on nostalgia, leveraging a dormant brand to chase renewed outdoor ambitions.

Memorable Moments & Quotes

• "Besties, these dudes hate each other so much, they won’t even shake hands." (A/Nick, 01:29)
• "Some combos don't work like rum and raisin in ice cream. It's like the pineapple pizza of the industry." (A/Nick, 14:11)
• "You see, Yetis, Nike owns the city... Patagonia, North Face own the great outdoors... Here is the strategic focus: ACG is trying to fill the gap between the great outdoors and the streetwear refined city looks." (A/Nick & B/Jack, 19:41–20:01)

Additional Headlines

(21:08–22:22)

• Costco recalls gift cards after issuer bankruptcy; customers can get refunds.
• James Cameron warns a Netflix–Warner Brothers merger could sink movie theaters (suggests Paramount as buyer).
• Seattle Seahawks for sale; proceeds to charity per owner Paul Allen’s wishes.

Trivia Segment: "Best Fact Yet"

(22:22–23:01)

• Which U.S. President set the record for most handshakes in a day?
• Listeners encouraged to answer in the comments; result revealed next episode.

Timestamps Highlights

| Segment/Quote | Time | |------------------------------------------------------------|-----------| | AI handshake drama, origin of handshake | 00:12–03:01 | | Trump’s tariffs “Reverse UNO” explained, Supreme Court ruling| 05:34–10:27 | | Ice cream business “exit,” lessons in diversification | 10:42–15:09 | | Nike’s stealthy ACG relaunch at the Olympics | 16:47–20:27 | | Costco/James Cameron/Seahawks mini-headlines | 21:08–22:22 | | Best Fact Yet: Handshakes trivia | 22:22–23:01 |

Summary Takeaways

• Tariffs: The Supreme Court ruling is a potential exit ramp from an economically damaging policy; big questions about refunds remain.
• Ice Cream: A beloved product, but a business nightmare for conglomerates due to structural challenges—making it a “banana split” from parent companies.
• Nike’s ACG: Shows how old assets can be strategically redeployed to capture shifting trends (urban-outdoor crossover).

For Listeners Who Missed the Episode

This episode blends top-tier business news with accessible explanations and humor. If you haven’t listened, you’ll leave this summary equipped with the freshest angles on tariffs, why Nestlé & Unilever are ditching ice cream, and Nike’s unexpected Olympic play—with a side helping of handshake history and listener banter. The tone is lively, friendly, and full of puns—an easy add to your morning routine.