The Best One Yet - 🏋️ “A slimdown in a syringe” — Weight Watchers’ Ozempic win. Rihanna’s perfume power. Tax Day’s big battle.

Episode Date: April 14, 2023

The latest fad diet isn’t a diet, it’s a shot — Ozempic is being called a miracle weight loss drug, and it’s disrupting Weight Watchers. LVMH is proud of their pricey perfume, and they are selling more than ever thanks to their Rihanna-aided storytelling. And H&R Block vs. TurboTax is the tax prep rivalry we’re all thinking about, but they share a common goal: Keep Taxes Hard. Take our weekly TBOY pop-biz pop-quiz at go.tboypod.com$WW $NVO $LVMUY $INTU $HRBWant merch, a shoutout, or got TheBestFactYet? Go to: www.tboypod.comFollow The Best One Yet on Instagram, Twitter, and Tiktok: @tboypodAnd now watch us on YoutubeLearn more about your ad choices. Visit podcastchoices.com/adchoices Hosted on Acast. See acast.com/privacy for more information.

This is Nick. This is Jack. It's Friday, the real Friday. April 14th, and today's pod is the best one yet. Yes, it is, baby. In the Northeast, we have spring weather for the first time in ages. Jack, I just flew in from San Francisco to New York, ran into three Yetis on the airplane.

You're kidding me. You know what the first thing they asked me was? What? Well, one of them asked me if I was Jack or I was Nick. And then the second one asked me why I was wearing so much merch. What did the third one ask you? The third one was named Maddie, and she's going to Spain for the vacation. Well, I saw a bald eagle this morning, so I think this is the best one yet.

This is a T-boy Jack. First story. What do we got, man? What if we told you there was a miracle weight loss cure that came in a shot? It's called Ozempic, and Wall Street has some opinions. For our second story, perfume sales just hit their highest levels since the French Revolution. It's all thanks to Rihanna and the Super Bowl. And our third and final story. Taxes are due next week, so you should definitely do your taxes.

Uh, but Jack, TurboTax just said you shouldn't do your taxes. Hmm, but Yeties, before we hit that fantastic mix. Just a wonderful mix to go into a weekend with, man. Do you want to party or face off all weekend? We're talking April, Bahamas spring break. What do we got? Five-star food, luxury yurped by the beach, and Jarl rule. Yadies, we're not talking about a sandal spring break getaway.

We're talking about fire festival. Fire festival. Yeah, that fire festival. The fake festival of infamination. The fraudulent event, that was not. Firefest, where the fancy food is actually white bread and American cheese. Fire fest where the luxury tents were actually FEMA mattresses. Fire fest where all the small things were so mismanaged, even Blink 182 canceled.

Yeties, it was so bad. Hulu made a documentary. It was so bad Netflix did, too. And the ringmaster of that fraud. was Billy McFarland, a young man who just got out of jail recently. And get this, the convicted felon just tweeted, FireFest 2 is finally happening. We repeat, FireFest 2 is happening, people.

He thinks the fraud was so good, it needs a sequel. Now, Jack, we should sprinkle on more context here, shouldn't we? There's no details on the location. Because Billy is banned from the Bahamas. There's no details on the musical lineup. Because Taylor Swift is busy doing real concerts. There's no details on the price of admission either. Definitely probably accepts Dogecoin.

But we're confident. Yeah, Firefest 2, it's definitely happening. Even though Firefest 1 technically didn't really happen. Fool me once. Shame on you. Fool me twice. Shame on J'Roo. Yeah. Yeah. Let's hit our three stories.

15 years before this song, two boys from the Northeast met in the dorm. They had an idea to cause a cultural storm. It's the best one yet, but the best is an Nortis. 50%. That's a fat tip. Tea Boy City on your at list. If you know, you know, because we're ready to go. We can't wait no more. So just start the show.

Start the show. For our first story, OZempic, it's being called the miracle weight loss cure of the century. I'm sorry, the last two centuries. Really? Rounding up on that one. Well, that's because OZempec just disrupted the entire dieting industry, but not in a way that you would expect. First, we avoided fats. Then we avoided sugars.

Then we avoided carbs, but you're going to have to pull the colds. dead cupcake out of my hands, Jack. Well, right now, according to a woo podcast I'm listening to, I'm not supposed to avoid anything. Yeah. Is that that new thing they're talking about? Intuitive eating? It's intuitive eating.

Yeah, intuitive eating. What's the deal there? You just keep eating, right? Just go with it. Yeah, you just roll with it. Well, the newest diet fat, it's not about food and it's not about Jane Fonda. Oh, Yet he's the newest diet fad. It's a shot.

It's a shot. And in that shot is a drug called O-Zempic. OZemping. It's basically a slim down in a syringe. This is like the toned. Perkis treatment we're talking about here. Nick, let me toss on my lab jacket first, though, and talk some science. Grab the beaker jack. If you're obese, it's possible to lose weight, but incredibly hard to keep that weight off. And so this is what this drug does, Yetis. It suppresses

the biological urge for your appetite, and it keeps your metabolism up. That's why Google searches for this miracle drug are up 100x in recent months. And that's why the parent company of this drug, Novo Nordisk, their stock is up 60% in the last six months. This drug is a profit puppy for Nova Nordisk. Jack, can we talk about the prices here, please? It costs $1,000 for one month supply of this drug. Yaddies, we're talking $12,000 a year for a 12 pack of abs. And that's why this is so controversial. Yes, it is, Jack. At $12,000 a year, this drug's not going to solve America's obesity epidemic. At that price, this is a Hollywood party favor. Like, I'm pretty sure in the Oscars gift bag, they had syringes of OZempe. Jimmy Kimball did make a joke about it while hosting the

Oscars. Osempic, it's the new Botox. But there's an even bigger controversy about OZemPEC. Yes, there is. I'm glad you brought it up, Jack. Because this is not technically a weight loss drug. It is a diabetes drug. This is a diabetes drug that made a very severe pivot. Well, the FDA has not approved Ozemp for the reason celebrities are using it. Yeah, so its use for weight loss has caused a shortage for the actual diabetic people who need it for diabetes. But Nick and I bet you that the parent company of this drug, Novo Nordisk, they want it to get approved for weight loss right now. And the reason Jack and I are thinking that is because of a simple number, the market size. Yes. Nick, how many Americans have diabetes? Jack, that would be 37 million Americans have diabetes. And how many Americans are

obese? Well, Jack, that would be 108 million Americans who are obese. So the market for obesity, people is three times the size of the market for people with diabetes. That's why Novo Nordisk probably has lobbyists roaming the halls of the FDA right now. So, Yetis, here's what Jack and I are thinking. If you are, let's say, Weight Watchers, you must be pretty concerned about this Ozempic, right, Jack? Yeah, if Ozempic gets FDA approval for weight loss, that's an existential threat to Weight Watchers. I mean, yeties, we just told you, weight watchers and the whole diet industry, it's focused on two things. Food and Fitness. The two biceps have diet. This shot would make all of that a moot point, right?

This Ozempic shot is the biggest disruption to fitness since the shake weight. Which led to this shocking surprise. Get this. Weight Watcher stock isn't down because of Ozempic. Weight Watcher stock surged 75% this week. Because of Ozemp. It feels like a takeaway moment. So, Jack, what's the takeaway for our buddies over at Ozempic? Whenever there is a challenge, there's also an opportunity.

All right, Yeti's full disclosure. That's not our takeaway. That's actually the words of the Dalai Lama. Yeah. It's also, though, the words of Weight Watcher's CEO right now. Because instead of fighting these obesity drugs, Weight Watchers is strategically using them for their advantage. Weight Watchers sees this medical breakthrough as giving hope to millions of obese Americans that they could lose weight. So Way Watchers has jacked up a whole bunch of programming to guide you on how to use Ozempec. They even acquired a tech company that will facilitate you getting a prescription to Ozempic and Weggavie, which is the sister drug to Ozemp. Okay, sit down, stand up, sit back down again. Weight Watchers acquired a tech company for the

sole purpose of helping you get Ozemp. Because Weight Watchers doesn't think the solution is just Ozempic, but Ozemp plus their diet and exercise routine. Yeah, these Weight Watchers, it took its biggest threat and it saw an opportunity instead. For our second story, America's two biggest tax companies are having a fake feud right now. H&R Block and TurboTax are fake fighting because they love the status quo. I mean, let's just jump in T-Boy style, Jack. We should call up Carol from accounting on this one.

Yeah, we should because, you know, if you're talking tax accounting, you got to talk H&R Block. H&R Block. You've seen it. It's the Green Square. That's the logo. It's a block. They were founded by the Block Brothers, Henry and Richard.

Yeah, Henry and Richard Block, Jack. That sounds like a couple of accountants, doesn't it? They were a couple of accountants. Yeah, they were. And those two brothers, they founded the tax prep company back in 1955 when taxes were as easy as arithmetic. But in the past 70 years, the U.S. tax code has warped into a refund-producing encrypted algorithm. To finish your taxes, you need to get a pseudo-PHD once a year. Right.

And H&R Blocks's entire business is based on having the encryption key to that complicated code. Now, yet, is this what Jack and I found fascinating. about this story as we dive into our taxes this weekend. H&R Block may have the most seasonal business we have ever seen. And it all revolves around April 18th. Their favorite day, tax day. Get this, Yeties. One quarter of all of the industry sales happen this week. One quarter. 25% of all tax preparation revenue happens in the week before tax day. But here's the funny thing. Like instead of celebrating this one week where they get all their money, big payday, H&R Block ripped on their arch rival TurboTax.

TurboTax. This is the Larry Bird to H&R Block's Magic Jansen. These guys are a duopoly of tax prep. Look, both offer the same service and both pretend to offer you the free service until it's not free at the very end. Yes, they do. And this year, Jack, what was TurboTax's ad campaign to remind you you owe the government money? I saw a bunch of commercials. They said, don't do your taxes. We repeat, don't do your tax.

taxes is what TurboTax said. The implication was let TurboTax do your taxes. On the other hand, Jack, what was H&R Block's ad campaign this week? They're saying definitely do your taxes. Yeah, they're saying you should absolutely do your taxes. They're thrown shade of TurboTax because you won't get a refund if you don't do your taxes. Okay, and just in case there's any confusion, any misconception, any uncertainty here, we should also emphasize, you should do your taxes. It's illegal not to. You should call Carol from accounting. So, Jack, what's the takeaway for our buddies doing their taxes right now. Those two rivals actually share the same goal. Keep taxes hard. Look, Yetis, it is unfortunate that taxes are such a complicated science in these United States.

Daddies, Nick and I jumped in T-boy style. This is shocking. The 1040 form from the IRS. Your main tax form. That's what you get at the end of filing taxes. On the instructions, it warns you, it's going to take 13 hours. That's the average time it takes an American to file their taxes. We repeat, the IRS knows that the average American needs 13 hours to complete their taxes. An American spend a combined $31 billion on tax preparation services. And Jack, what's the key reason that it's not easier for all of us to do our taxes? Because of aggressive lobbying from the tax preparation industry. Basties, according to ProPublica reporting, TurboTax spent 20 years stimming efforts in Congress to simplify the tax code.

Just like how the map industry probably fought the GMAP. PPS? Exactly like that. The tax prep industry has been fighting tax reform for decades. Because combined, turbotax and H&R Block prepare 60 million American tax filings. And if taxes were easier, we probably wouldn't pay them so much money to prepare them for us. The easier it is for you to do your taxes, the harder it is for them to make money. So these two companies are epic rivals, but they share the same common goal. Keep taxes hard. And now a word from our sponsor, Robin Hood. Would you like more? More hand cream, more French fries. Jack, would you like more weekends? Would you like 18 times more of all those things?

Well, if you sign up for Robin Hood Gold for five bucks a month, your uninvested cash grows by 4.4% per year. That's 18 times more than the average bank savings account rate, according to bank rate as of January 25th, 2023 terms apply. With 4.4% APY, your uninvested cash literally grows. Like, you can still use your cash anytime for anything. Then spend that extra cash on 18 times more French. To get started, go to Robinhood.com slash T-Boy and get your first stock for free. That's robinood.com slash TBOI. Certain limitations apply. Rate is subject to change.

All investments involve risk. Robin Hood Financial LLC, member SIPC, Robin Hood is not a bank. For our third and final story before the weekend, the world's largest luxury company, LVMH, just had its best quarter ever. But the real winner here wasn't a handbag, a lipstick. It was a smell. It was... A scent. A smell. Yetis, if you're looking at something that's ensconced in cashmere or covered in caviar, there is a good chance that

LVMH made it. As all the Yetis know, LVMH stands for four words that I can't pronounce. Yes, it does. It owns. It is the French company that owns Tiffany Jewelry, Christian Dior, Mark Jacob, Sephora, and then Jack, how many wine brands did you discover? 25 different wine, champagne, and spirit brands. Yeties, there's someone at business school right now who probably is in the LVMH family, you want to befriend that person immediately. You want to go to spring break with that person. You want to get invited to that wedding. Because this is the most valuable company in all of Europe. LVMH's stock is up 40% in the last year. And their sales just rose 17% in the last quarter. All you Emily and Paris fans, this is what JVMH is, but in real life. That guy's cute. And he's got a reason for it. He's a keeper. He's a keeper. But yet, here's why Jack and I want it. It's

cover this story. The top performing product at LVMH wasn't wetting rings and it wasn't cognac this year. This year it was something you can't even touch. Yeah, the top performing product at LVMH was perfume. Specifically, perfume sales in the United States drove the last quarter. For the first time since the olfactory, fragrance beat skin care this year in sales. If you're wondering what I'm wearing right now, it's Old Spice. Old Spice. That's the podcaster's Chanel number 5. Now, if you're wondering who is to thank for this fragrance resurgence at LVMH? Who is it, Jack? It's Rihanna. Yeah, it's Bad Girl Rie-R-R-Rie. Because Jack and I jumped in T-Boy style, a whole part of the earnings call with LVMH was dedicated to Rihanna and the

Super Bowl. Remember the halftime show? Rihanna didn't just reveal her baby bump to the world. She also revealed her Fenty brand. Remember, in the middle of the halftime show, she started doing her makeup for like a moment with her Fenty brand makeup. Fenty beauty is backed by LVMH. Yes, it is, and it turns out that searches for the Fenty brand cert 833% during that halftime performance. According to LVMH, bad girl reref followers doused themselves in Fenti's Ode perfume in the past three months. And here's the shocking thing. That actually reflects a broader perfume trend. In this post-ish pandemic era, we're all seeing people more and we're all caring about how we smell again. We're caring a lot extra about how we smell. And that's why

perfume sales at Mount Blanc. Coach, Jimmy Chew, they're all up by 50%. That's a huge number in the past year. You're on a roll and you stuck the pronunciation on the Mont Blanc. Did I? Yeah, you're working on it. That's pretty not too shabby. Don't go check the tape because I'm pretty sure I didn't say it like you just did. So Jack, what's Je Suis takeaway for our buddies over in the fragrance industry? Perfumes are the ultimate storytelling product. Yet he's funny thing Jack and I were thinking. out. LVMH is the most iconic company on earth for material goods, physical things. You want to see them so you can show them on. And yet perfume is the least material good. You don't see it,

so it's really hard to show it up. And that is why Givanchi perfume isn't sold in a bottle. It's sold in a small sculpture. Right. And that's why Christian Dior perfume, the ads have Charlize Theron as a princess. So why is perfume marketing so absurd, so dramatic, so comically drawn out in every commercial? Because perfume is invisible. It literally requires your imagination. Perfumes. They are products that depend on storytelling. I'm a little nervous about that last line, but I think we should keep it. I think we should keep it. Jack, can you whip up the takeaways for us for the real Friday? Oh, Zempec is the controversial drug heralded as the miracle weight loss cure. But Weight Watcher stock is up because, like the Dalai Lama said, in every challenge is an

opportunity. For our second story, H&R Block slapped back at TurboTax with their don't-do-your-tax campaign. But here's the thing, these two rivals share a common goal, keep taxes hard. And our third and final story is LVMH. Their booming earnings were driven by perfume sales. Perfume. It is the product most dependent on storytelling. Now, time for the best fact yet. This one sent in by Yetty, Molly Brown from lovely Nashville, Tennessee. Push and play. Here we go. Molly Brown here with the best fact yet. This Saturday marks the 111th anniversary of the most infamous ship sinking in history,

the Titanic. Almost everyone knows this boat, but did you know its shipping company, White Starline, had many ships? Some include the Atlantic, the Britannic, the Republic, and my favorite, traffic. You may have picked up on a pattern there. In fact, White Star built over a state. 60 ships between 1870 and 1920, and all but three didn't rhyme. Also, out of the four that I just mentioned, three of them sank. And I should know, I share a name with the unsinkable Molly Brown

and share a birthday with the ship sinking. But what do you think? Molly Brown, happy birthday. The real takeaway here, if a ship company's ship names rhyme, get off that ship. I'm just curious where the life jackets are held. Yetis, you looked fantastic this week. And if you want to play our weekly quiz, it's now in the best location yet. And where is that, Jack? We got a tab up on t-boypod.com for the weekly pop-biz pop quiz.

Our one-minute weekly pop-biz pop quiz at t-boypod.com. Nick and I, we'll see you Monday. Have a fantastic weekend. And before we go, congratulations to Yeti, Tony Nash from Buffalo, who's celebrating the birthday by returning from military deployment on the very same day. Lindsay could not be happier. The legendary Yeti, Tony Nash. And congratulations to Maddie from the Bay Area,

who I ran into an SFO and is celebrating a birthday over in Spain. And good luck to Caroline and Miranda, seniors at University of Indiana who are running a half marathon. Or one combined marathon. And Angel and Lila Cito are getting married down in Cancun. And congratulations to Diego and Anias, who just had their first baby Yeti Ania in tempting. Arizona. And hey, Victor and Rosa Martina Serrano, enjoy that five-year anniversary over in California.

Congratulations to Gloria Jaso and Ace, who just got engaged in Glendale Heights, Illinois. And Jenny Lau and Wes Yang also got engaged in Vegas, and they've been tee-boying since they first met. And good luck to Tomas Bajio, a big Yeti out in Hawaii, who's playing a beach volleyball tournament with his dad in Brazil. Kour to Chiba, Brazil. And a big happy birthday to the face-off guy Matt Dwyer, who's a strong islander living just outside of us. This guy can take it from X and he'll stick the goal every time. And happy birthday to Anna Gerdian in Nicaragua. And happy birthday to Taylor Patterson down the street in New York City.

Happy birthday, Giann Ewan, in Chicago. And a happy birthday to Katie Brian down in Texas. Happy birthday to Isidora Orby, driving from San Diego to San Francisco. Maria Atkinson, turning 28 over in Rochester. Joel Chung, happy 9th birthday down in Cupertino. And Grace Q, enjoy that 9th birthday as well in Ridgewood, New Jersey. And happy 9-month birthday to Bentley Wytholfe in Los Angeles. And Daniel Baker is celebrating a birthday while running his fourth half marathon of the year.

Or two full marathons. And happy 34th birthday to Lindsay Swift in Rockford, Illinois. And Jennifer Renucci celebrating a birthday down in lovely San Diego. Happy birthday to Matt Keating in Chicago, and she out. Tang, the ultimate PM at DoorDash, has a five-star birthday in New York City. And old Bobby Shishka Bobby Horowitz and Monkey Paul, a nephew and uncle. Same birthday, happy birthday in Big Maryland. This is Jack.

I own stock of Netflix and Nick and I both own stock of Robin Hood. And now a word from our sponsor, Robin Hood. 1934, great year for our nerves. That's the year the FDIC got into the deposit insurance business. Since 1934, no depositor has lost a single person. penny of insured funds due to bank failure, according to the FDIC. That's why Robin Hood has partnered with FDIC insured banks to ease your nerves. Robin Hood's cash suite program protects your cash up to one and a half million bucks at FDIC

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