Morning Brew Daily - Trump’s TACO Trade Returns & Samsung Wants Your Fridge to Have Ads
Episode Date: March 24, 2026Episode 806: Neal and Toby discuss the TACO trade making its return on Monday morning. The guys also give the latest updates with TSA wait times and the collision at LGA. Next up, the great AI agents ...race and why Samsung wants their fridges to display ads. Then, what does monitoring the situation actually mean and the headlines you need to know to start your day. Learn more at linkedin.com/MBD Subscribe to Morning Brew Daily for more of the news you need to start your day. Share the show with a friend, and leave us a review on your favorite podcast app. Listen to Morning Brew Daily Here: https://www.swap.fm/l/mbd-note Watch Morning Brew Daily Here: https://www.youtube.com/@MorningBrewDailyShow Learn more about your ad choices. Visit megaphone.fm/adchoices
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Good morning, Brutley Show.
I'm Neil Fryman.
And I'm Toby Howell.
Today, the suspicious trades before Trump sent stock soaring.
Then why is your refrigerator showing you ads?
It's Tuesday, March 24th.
Let's ride.
Good morning and happy Tuesday.
Okay, here's a new study that I absolutely love.
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Hey, what the heck?
We've seen this throughout corporate history, though.
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The stage was set for another wipeout in the markets yesterday. Over the weekend,
President Trump had issued a 48-hour ultimatum for Iran to reopen the strait of Hormuz,
or else he would strike power plants all over the country.
Iran rebuffing those calls vowed to retaliate with damaging strikes of its own.
The war appeared to be on the verge of escalating dangerously.
And then came the taco.
The trade Wall Street has dubbed Trump Always Chickens out.
Just as we wrapped up recording the podcast yesterday morning,
President Trump posted the surprise news that his pledge to strike energy targets was postponed for five days
after the U.S. and Iran held, quote, very good and productive conversations regarding a complete and total resolution of our hostilities.
Almost instantaneously, stocks went vertical and held on to their gains for the entire day with the S&P closing up 1.15%.
Meanwhile, skyrocketing U.S. oil prices fell back down to earth, plunging nearly 10% to close below $90 barrel.
Wall Street was ecstatic to hear progress on a diplomatic end to a conflict that had already caused the biggest energy supply shock in history and was inflicting more economic,
damage by the day. Of course, nothing is so clear cut. After Trump's post, Iran denied that any
conversations had taken place with the U.S. and accused Trump of manipulating financial and
oil markets with his announcement. One thing we can't assume, the timing wasn't a coincidence.
Trump made the announcement just hours before trading opened at 9.30 a.m. Eastern,
suggesting that, as we saw with Liberation Day tariffs, he is well aware of market dynamics
and was aiming to signal to Wall Street that an off-ramp was coming into view.
Whether that's actually true or not, we don't know.
It was brutal.
Right after we finish the podcast, we get out and go, oh, man, like a lot happened in just this really short morning of period.
Trump added $1.7 trillion to stocks, pushed the price of oil down by $17.
That's around 15%.
But then by the time that, you know, we went and went to the gym and had our coffee, Iran was basically calling him a liar.
And half those gains had vanished.
So it was this massive whipsaw very closely.
Just the scale of the trades too had a lot of people kind of scratching.
their heads. The Financial Times did a little digging. They found that roughly 6,200 Brent and
West Texas Interimitary Futures contracts changed hands between 649 and 650 AM. That's 15 minutes before
Trump posted his truth social post. The value of those trades was $580 million. And again,
this is something where right now we're in a period where the oil market is volatile.
Like hypothetically, that amount of contracts could have, you know, exchanged hands. But a lot of
of people are reading between the lines and saying it looks like this is following a pattern where
someone is front running these big announcements from the administration. Oh, these were extremely
suspicious. Just the timing of it, almost $600 million, $1,500 million, 15 minutes before this
truth social post, the Financial Times talked to a couple portfolio managers about whether this was
unusual or not. One of them said my gut from watching markets for the last 25 years is this is
really abnormal. It's Monday morning. There's no important data today. There aren't any Fed speakers.
It's an unusually large trade for a day with no event risk.
Somebody just got a lot richer.
And it wasn't just a bunch of money put in the oil markets.
It was also S&P 500 futures, which spiked well over 1% after this Trump announcement.
So suspicious trades, we don't actually know what happens, but it fits sort of a pattern that President Trump can make huge waves in the market,
and the oil market, in the equities market by these announcements we saw with tariffs last year.
and now with the war, because the war is hanging on, or investors are hanging on is every word
with the war.
So we just saw a very unusual trade 15 minutes before this particular truth social post.
And we also got the very surreal situation of waiting for an Iranian spokesperson to confirm
something that, you know, the U.S. president said because we did get a statement from the
parliamentary speaker who said, fake news is used to manipulate the financial oil markets and
escape the quagmire in which the U.S. and Israel are trapped. Again, like, you have to take both
sides of this equation with a grain of salt. Both sides have their own interest in mind when they're
putting out quotes. But it was interesting. We were literally sitting by our computers and we're going,
let's wait to see what Iran has to say about these negotiations that are supposedly taking place.
The other big story we're tracking is Monday night's collision at LaGuardia that killed two pilots on an
Air Canada flight and closed the airport until 2 p.m. yesterday. Here's the general outline of what
happened, a fire truck had been dispatched to address a separate United plane that had
aborted to takeoff and received permission across runway 4 by the air traffic controller.
That was when the Air Canada plane was landing on runway 4.
And despite pleading by the air traffic controller for the truck to stop, it was on the runway
when the plane landed, where it was struck by the aircraft traveling between 93 and 105
miles per hour.
Dozens of passengers were taken to the hospital, but it could have been much worse.
And what's being dubbed a miracle, a flight attendant was thrown from the
the plane still strapped to her jump seat and survived with just a leg fracture. Toby, this is the first
fatal crash at LaGuardia in three decades and has already renewed scrutiny around the barebone
staffing of overworked air traffic controllers. Yeah, and we are looking into how this investigation
is going. The NTSB is looking into it. How is that progressing? Pete Muntin, who is a correspondent
for CNN, posted that the NTSB chair, Jennifer Homende, said the agency had to beg to get a key
Guardia crash investigator through TSA and Houston because she'd been waiting in line for
three hours. So I feel like that's just emblematic of the entire airline industry right now when
someone investigating, you know, this really tragic crash, can't even make it through TSA because
the lines are so long. Moving on, if you felt the world was missing a little bit more Mark Zuckerberg,
fear or not, Zuck 2.0 is on its way. According to the Wall Street Journal,
according to a Wall Street Journal report, Zuck is in the middle of building an AI agent that will help him
do his job as CEO.
The idea is to flatten the company out, letting him go to the bot to receive answers about
meta's business that would previously have required layers of people to get through.
The rise of AI agents to the top level of the tech world can be traced back to the rise
of an open source framework called OpenClaw that's absolutely exploded recently.
Three months ago, nobody knew about it.
This past week, Nvidia's CEO Jensen Huang called it the most popular open source project
in the history of humanity going on to say.
say this is definitely the next chat GPT. OpenClaw lets developers spin up a fleet of always on agents
across WhatsApp, Slack, Discord, or any other tools and workspaces your heart desires. For instance,
if you're in the market for a stroller, you can have an agent be on the lookout for good deals
and place bids for you on eBay, while a separate agent could be in charge of controlling your
home smart systems like lights and security, all while you go about your workday. It's become
all the raids abroad as well. Open claw uses in China is now almost double that in the U.S.
according to cybersecurity company security scorecard. Of course, there are the tractors with one
analyst describing the tech as janky, incredibly insecure and half working, but that's not slowing
down the hype train. When Zuck, Jensen Huang, and roughly 600 million AI users in China are
all excited about the same thing. Should probably take note. Absolutely. If you want to hang out
with me this weekend. I will be unavailable. I'm going to be hold up trying to optimize my life
with OpenClaw. Sounds like a joke, but there are tons of people absolutely doing this,
especially in Silicon Valley and in China. And so are tons of companies. Jensen Huang,
NVIDIA CEO said every single company needs an open claw strategy. And we have seen an absolute
marathon of companies trying to release either OpenClaught competitors or rappers around OpenClaught
to allow businesses to deploy them. Of course, Nvidia has its own.
It's called NemoClaw and it has some security settings to alleviate some of those privacy and security concerns that maybe an enterprise client would have when trying to adopt OpenClaw for their business.
It is a full-on phenomenon in China as well. Earlier this month, hundreds of people lined up at Ten Cents headquarters waiting for engineers to install OpenClaw on their laptops for free.
They just want to be part of the game and one of the most difficult parts is setting up OpenClaw.
So it is crazy.
And then there's just anecdotes from people using it on a daily basis.
One 24-year-old job seeker says that he had OpenClau memorize his resume and then look for new jobs every single day, new software engineering jobs.
That's basically what you can do.
You can treat it like a employee or an assistant that is always on is not necessarily the most adept at navigating, you know, nuanced security risks.
but it's like almost a junior employee.
Just treat it like that.
Give it very strict parameters,
but it can go and work very efficiently
while you have your attention focus elsewhere.
I think that's what Zuck is doing.
And meta seems to be rapidly,
meta and probably every other AI company
is rapidly adopting these kind of agents
for their workforce.
I think another reason why this has gone so viral
is that it has just like a really cute mascot.
OpenClaught is a lobster.
And in China, they call it.
There's been a meme.
It's gone viral. It's called Raising Lobsters, and that's the process of installing and training OpenClaught.
It's still not so hyped here in the United States. I mean, I bet a bunch of people listening to you to us right now are like, I have no idea this is happening.
If you go to Silicon Valley, it's a different story. I think everyone is setting up their AI agents, but you are also, have set up your own open claw.
What has that experience been like? Well, a little bit. Actually, I'm not technically adept enough to actually use and download the open source software, but just yesterday,
Claude from Anthropic. This is a separate thing, by the way. OpenClaw was downstream of,
you know, claw sounds like Claude, but it's actually the developer works for Open AI now. So it's a
little bit convoluted, but Anthropic said, all right, we're seeing all these people, you know,
set up their own autonomous agents. What if we just allowed you to do that right here in Cloud
itself? So I did that yesterday. It launched yesterday, and I had it kind of messing around with my
computer this morning doing, who knows what, honestly. Like I saw my,
my mouse zipping around my screen as I was trying to prep for the show.
So I'm still in, you know, the first inning of this, but trying to just figure out ways
that I could utilize this.
I think a lot of people are doing that.
I have a cousin who lives in Austin, Texas, which is not Silicon Valley.
He has his own agent called Agent Xander that, you know, text him his to-do list every
morning, you know, just kind of helps him live his life.
So it is whatever you want it to be.
It's almost like a mirror reflecting whatever your priorities are.
That's what it can do.
I do think we are in the early innings of this, and it's only going to grow out from here.
Moving on, people are putting ad blockers on their refrigerators.
One more time, because I couldn't believe it myself.
Some people are putting ad blockers, you know, the kind you use on websites, on their refrigerators and appliance to keep food cold.
As the Wall Street Journal reported, it's what some homeowners are resorting to after their Samsung smart refrigerators began displaying advertisements on screens, and many are quite upset about it.
Last fall, Samsung began a pilot program to explore ads on its smart refrigerators sold in the United States.
The goal, according to the company, was to test whether contextual, non-personal ads for things relevant to housework would be useful to people.
Months into the pilot, which has served up ads intermittently on some fridges, Samsung said the turn-off rate, yes, you can turn off the ads, was low in the single digits.
But the smart fridge owners the journal talked to didn't share that view.
They said the ads were intrusive and violated perhaps the one last place in American life that had been.
in off limits to ads, the kitchen. Furthermore, they felt like they got ripped off by the price of
the refrigerators, which cost well over $1,000. If the fridges have been sold for a discount,
they said, maybe you could probably tolerate some ads, but these appliances came in at a
full premium price. And finally, yes, one owner told the journal that they made sure their home
router's ad blocking software extended to his fridge. It worked. That is a crazy timeline that we're
living in, that your freaking refrigerator is serving you up ads. It is an interesting.
strategy from Samsung, they have an initiative called the Screens Everywhere initiative,
which feels opposed to what most people want from their appliances. They want to include
beyond fridges, washers, dryers, ovens, all have screens on them, which, you know, maybe
means all of them have ads eventually coming to them. Doesn't feel like what the consumer
actually wants. One ad that I thought was especially kind of funny and creepy was they got a
full screen ad for Apple TV's sci-fi show, Pluribus. I don't want to spoil Pluribus. I don't
but a big plot line of that is, you know, I guess I am going to spoil it.
Like aliens taking over, you know, appliances and like TVs in the main character's house.
So I just thought that was an ironic twist.
I actually think it's kind of good advertising for purpose, but not a good user experience for
the person with the fridge.
It's just amazing how much we're bombarded with ads every day.
There was a study back in 2023.
So in 1970s, American went from seeing 500 advertisements per day to over, over,
$50,000 in 2023, and now they're invading our kitchen. They're in our ubers. I mean, ads are pretty
much everywhere. It's something that we've come accustomed to. What I thought was interesting is that
you want to accept a discount if you're going to see ads. So Netflix rolled out this ad tier,
and people have happily paid up for it. They know that there is a sort of bargain at play
where I'm going to pay $6, $7 for Netflix a month, but I also will see ads. When you're paying
the full price, I think, for something like a Samsung refrigerator when you weren't really
expecting ads in the first place, that's what really frustrates you.
All right, we're going to take a quick break and come back with Toby's trends right after this.
Neil, feel my bicep.
I should not have to say no to this every day, Toby.
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Yes, I'm the one who originally told you that.
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This episode is brought to you by Apple.
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is subject to risk Vanguard Marketing Corporation distributor. If you have more than 10 tabs of X
open right now at work, you are part of the growing
of very online denizens who have grown addicted to monitoring the situation.
It's this hypervigilance and the memes that accompany it that I want to talk about on today's
edition of Toby's trends. Part of the reason monitoring the situation has become so popular is
there are many situations that require monitoring. The U.S. and Israel are bombing Iran. Iran has
retaliated with strikes on six countries. The Strait of Hormuz is closed. Oil prices are up.
Gasoline prices are up. Cuba's power grid has collapsed. There's also tariff drama. The Epstein
files, ice raids. These are just a few of the buffet of situations that Bloomberg's Amanda Mull
pointed out in her piece on situation monitoring. It helps that you have more tools than ever
at your fingertips to stay ever vigilant. Ellie Habib, an engineer based in the UAE, vibe-coded
a dashboard called World Monitor in his spare time and was shocked by the response to his
weekend project. The site which pulls from over 100 different streams of data, including
stock prices, airport flights, and satellite movements had more than 2 million people access
it in the first 20 days. Polymarket, which has added a financial component to situation monitoring,
opened an entire bar filled with TV screens dedicated to the practice. Now, I should mention
that most situation monitoring is ironic. Refreshing X constantly just to mansplain the situation
to your significant other is a key theme of the genre. But it's an inescapable meme at this point
because it really does feel like there is so much going on right now.
Neil, do you have the masculine urge to monitor the situation?
Oh, yes.
I am absolutely a serial situation monitor.
I don't think it's just necessarily an instance of there's so much going on right now.
It's also an instance of a couple other factors.
One of them is we have more data at our fingertips than ever.
We have X.
We have flight tracking information.
We have weather from all around the world.
And thanks to vibe coding in AI,
can all put that in one place as this guy did for that particular website. And then the other thing,
I think, is contributing to the rise of situation monitoring is polymarket Kalshi prediction
markets. And I think it's no surprise that Pollymarket opened this particular bar dedicated to
situation monitoring because now at this point, people can actually wager on world events that they
would on a sports game. So everyone's treating it, everyone's treating world events like sports and
betting on it and thinking things like, oh, who's going to win the Academy Award? When will
Iran strike Israel before or after March 31st. So I think prediction markets and the availability of
data are two of the big factors. We've also just been trained to consume data through feeds.
I mean, so much of our life comes to us via never-ending infinite scrolls. And so I think we're just
accustomed to like when a major event breaks out, like that is where we're going to go. It also,
Habib, who made the World Monitor site said it helps people feel in control. We pulled up World Monitor
yesterday. It is absolutely not helpful. There's way too many sources of data. Like, who needs to know
what the weather is on the other side of the world also accompanied next to active flights taking
off in New York City? Like, it's, it is literally information overload. But when you're sitting there
and you have one monitor with Twitter open, you have one monitor with world monitor open,
you're like, I am on top of it. I know what's going on. It helps you feel a sense of agency over an
increasingly, you know, chaotic world. So I do think there's something psychological about.
about the masculine urge to monitor the situation.
I do agree.
And I think it's probably broader, part of a broader trend of the red zoneification
of everything.
It does tie into a lot of how people consume sports now, which is where red zone came along
and all of a sudden you don't want just watch one football game for three hours.
You watch eight or nine or ten and you are monitoring the situation every NFL Sunday.
And then that was ported over to the Olympics.
And this is how people watch the Olympics now with Gold Zone, which is the red zone of the
Olympics and you got eight things going on at once. You're watching curling. You're watching,
you know, surfing, whatever, summer winter Olympics. It doesn't matter. But I think there's a lot of
parallels to what's happening in the sports world to the current and global events similar to what's
happening in prediction markets, sort of expanding the purview of sports gambling. Although there is
some lore that was dropped about monitoring this situation yesterday. So Amanda Mull wrote this great piece
in Bloomberg. Highly recommend checking that out. She kind of said that there's like this Jeff
Bezos meme that personifies monitoring the situation.
And that was kind of like the jumping off point where I really hit mainstream.
But then people on the timeline found an Anthony Bourdain tweet from June 20th, 2013, where he
says, I am, quote, continuing to monitor the situation.
So I do think Anthony Bourdain coined this term, you know, over a decade ago, which was
not something that I knew, but it is kind of makes sense, honestly, that there's direct
through line to Anthony Bourdain.
All right, let's turn to the finish with some final headlines.
Up first, the reclusive billionaire behind OnlyFans has passed away.
Leo Ridvinsky, the majority owner of the adult content platform, died of cancer on Monday at 43 years old.
Rivinsky took a controlling stake in the company in 2018 and, powered by people stuck at home during the pandemic, turned it into a behemoth.
As of 2024, OnlyFans had over 4.6 million creator accounts, 377 million fans.
pulling in $7.2 billion in gross revenue.
Despite OnlyFans' success, Ravinsky was notoriously private.
Born in Ukraine, his family moved to Chicago when he was a kid.
He studied econ at Northwestern.
He gave almost no interviews, made no public statements, and largely operated in the shadows
while paying himself roughly $1.8 billion in dividends since 2021.
One of the more reclusive and controversial businessman of our time, Neil.
Yeah, we don't know a lot about him, but he absolutely changed the content.
the online content game forever, not just adult content, but just across the board.
The fact that OnlyFans took a 20% cut of the revenues content creators took 80%.
You hear stories about how a few OnlyFans creators are making millions and millions and millions of dollars over the course of the year.
One thing we do know about Leo is that he was sort of predestined to lead an adult online company just from the very beginning back when he was 17.
He started his first internet business called Cybertania, which was a website referral,
business. His mom actually did sent the incorporation papers for him in 1999 while he was still
a teenager. Then he operated websites called Ultimate Passwords, which claimed to offer hacked passwords
to pornography sites. And then this sort of snowballed into when he started something called a website
called My Free Cams in 2004, which blended casual online chats with sexually explicit live content.
So he was always on the journey to lead a company like OnlyFans. Well, you don't see this type of deal
that often or at all. Yesterday, the Trump administration announced it would pay French energy
giant total energies almost $1 billion to not build wind farms off the East Coast and instead
invest in fossil fuel projects in the U.S. The Department of Interior will reimburse $928 billion to
total the amount it paid for two offshore wind leases, which it will then use to produce oil and gas.
The New York Times called it an extraordinary transfer of taxpayer dollars to a foreign company
for the purposes of boosting the production of fossil fuels.
Explaining the deal at an energy conference,
Interior Secretary Doug Borgham called wind power ineffective
and predicted a new era of affordable, reliable, and secure energy.
The CEO of Total, for his part, said it was a pragmatic business decision,
considering that offshore wind had gotten too expensive in the U.S.
given the Trump administration's resistance.
Yeah, Total Energy got bailed out here
because a lot of other companies that, you know, embarked on this sustainable offshore wind projects
don't have an oil and gas business to fall back on.
So it really was a gift.
out of jail, free card. They got reimbursed, and now they have a new, you know, big project in the works,
but not every, you know, wind company can say that. Finally, in case you missed it, the UK version
of Saturday Night Live made its debut this weekend, and people didn't hate it. Reviews were mixed,
but mostly positive, in that most thought it was going to be a huge flop, and it was actually
pretty funny at times. President Trump even shared the cold open making fun of UK Prime Minister
Kier Starrmer and Trump on his truth social platform. They didn't exactly reinvent the wheel here,
American viewers of SNL UK would have found a lot familiar with the show back home.
There was a celebrity host, Tina Faye, a fake pre-taped commercial, a buzzy musical guest,
wet leg, and a rag-tag roster of comedians you've never heard of doing sketch comedy.
Even the set was eerily familiar to the one at Rockefeller Center.
Toby, I watched a bunch of the clips on YouTube, as one does, and I liked it.
The New York Times reviews summed it up well.
They said, from an American perspective, watching Saturday Night Live UK is like stepping into a well-run Starbucks.
in a foreign country, comforting and recognizable with a few departures from the norm magnified.
One of the standout jokes was Tina Faye saying that she's the youngest person to ever host SNL
UK. She's the first person, so of course she's the youngest. So she was always great. The Brits
seemed to like weekend update the best. That was something that kind of ported over the most
seamlessly. And then the Times ended the review by saying if Pierce Morgan appears by week eight,
there's a problem. So off to a good start. But I'm
I'm tuning in.
You were doing the thing where you turn your iPhone around and show me all the clips yesterday.
It's all right.
You wanted to share something that you enjoyed.
So I won't fault you for it.
No, but people, those are the worst people and I'm one of them where you're like, hey, look at this funny clip on Instagram.
Here, watch it.
That was me for SNLUK.
I apologize to everyone.
I did that too here at the office.
Okay, that is all the time we have.
Thanks for starting your morning with us and have a wonderful Tuesday.
If you'd like to reach us, send an email to Morning Brew Daily at MorningBru.com or DM us on Instagram at MBDAily show.
Let's roll the credits. Emily Milliron is our supervising producer.
Raymond Lue is our senior producer.
Our producer is Olivia Graham and our associate producer is Olivia Lake.
Ed Lewis is our technical director.
Hair and makeup is monitoring the situation.
Devin Emery is our president and our show is a production of Morning Brew.
Great show, Daniel. Let's run it back tomorrow.
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Catch the Jonas Brothers return to the Yamava Theater stage on April 30th.
the powerful vocals of Demi Lovato on May 17th,
and the signature Southern Country Rock of Eric Church on July 19th.
Tickets on sale now at yamava Theater.com,
only at Yamava Resort and Casino,
celebrating its 40th anniversary.
UN must be 21 to enter.
