The Best One Yet - 🪙 “Bit Mitzvah” — Bitcoin gets a ETF. ChatGPT’s Bot Store. High Noon’s #1 Liquor.

Episode Date: January 12, 2024

Bitcoin reached a 2-year high as the first ever crypto ETFs began trading on Wall Street — So we’ll tell you what positives and negatives of Bitcoin’s Bit Mitzvah (mazel).The top-selling liquor in America right now? It’s not Jack Danliels or Tito’s, it’s High Noon — We’ll tell you how the canned tequila cocktail reached #1.And ChatGPT just launched a Bot Store — ChatGPT’s new market of bots is inspired by the Spice Girls.$BTC $IBIT $MSFTSubscribe to our newsletter: tboypod.com/newsletterWant 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 Youtube Hosted on Acast. See acast.com/privacy for more information.

This is Nick. This is Jack. It's Friday, the real Friday, January 12th. And today's pod. Today's pod is just the best one yet. What a team boy, Jack. Nick and I are serving up the top three pop business news stories you need to know before the long weekend. Jack, I'm sorry, one second.

Can we get lights, camera, and action over here? Do you see what I did right that? Besties, Nick is showing off our brand new lighting equipment, which is un-nestened. There's a lot of features we're never going to use. I mean, I'm going full George Lucas on this, Jack. I decided to go with like a pink motif on the lighting. What do you think?

It's slamming salmon right now. You can see Nick's disco ball set up on YouTube by watching t-boypod.com slash. Wait, that's not right. I mean, I feel like a young Tyra Banks hosting America's next top model. What can I say, Jack? Let's hit the show before the three-day weekend. Jack, make it work. First story for today's show.

What do we got, man? For our first story, Bitcoin popped to a two-year high. yesterday after the first ever crypto ETF was approved by the SEC. Yetis, the Bitcoin ETF. Jack and I think it's Bitcoin's Bitnitzvah. For our second story, this was a shocker. The number one

spirit in America isn't whiskey, vodka, tequila, or gin. It's High Noon. High Noon. The canned cocktail High Noon has higher sales than any liquor in your cabinet. And our third and final story is ChachyPT. They just launched an entire store

full of bots. It's the first ever bought store. And this GPT store is using the same strategy as the spice girls. I'm so excited about this mix of stores. I mean, now I feel like scary spice. I'm just putting myself out there with this lighting forest jack. I love what we're doing. The best is before we hit that fantastic mix of stories. Wonderful mix of stories to go into a three-day weekend with me. Nick and I have to tell you something. Mark Zuckerberg has a ranch in Hawaii where he raises Japanese cows and feeds them macadamia nuts and beer. And then he eats them. Should we repeat that? I feel like we should repeat that, Jack. Zuck has a cattle ranch on Hawaii where he's raising nut eating beer drinking rare ribby steers.

That was not on my bingo card for 2024. Jack, should we sprinkle on more context here? Actually, wait, we should sprinkle on more context here. Besties, this is a true story. Mark Zuckerberg has amassed 1500 acres of land that he owns on the Hawaiian island of Kauai. Yeah, that's $153 million. is a prime ranch and real estate, Jack. Mark Zuckerberg owns two central parks worth of land near the beach in Hawaii. And he's building a 5,000 square foot bunker that's underground, but we digress, we digress.

Again, true story, he's building a 5,000 square foot underground bunker in Hawaii. But this is the part Jack and I found fascinating. Zuck's end of the world compound in Hawaii is where he also raises his own live cattle. That's right. True story. He keeps rare imported wagyu cow as, on this Hawaiian island land he owns. Wag you cows, Jack.

It's a Japanese breed of particularly high fat beef cattle. It's high fat, high marble. It's chef's kiss. But the best part isn't that Zuck eats his own cattle that he raises on his own land. It's what the cattle eat. Because Zuck feeds them only two things, according to a recent Instagram post he made. Macadamia nuts and beer. He feeds each cow five to 10,000 pounds of macadamia nuts.

He grows on his own land too. nuts make those cats fat so they taste tasteier. And the beer stimulates their appetite to eat even more nuts. So they get even fatter and taste even tastier. So Zuck's cows eat nut butter for breakfast. And then they're chugging pale ales for dinner. Jack, what's the takeaway for our rancher buddy Zuck over in Hawaii? Old man Zuck, he had a farm.

Eia, y, y'i. And on this farm, Zuck had some cows. Eye, Yaya. With a Zuck, Zuck, here and a Zuck Zuck there. There's a Zuck, everywhere a Zuck, Zuck. Old Man Zuck, he had a farm. meta CEO. Beef, it's what's for dinner in his bunker. We'll take it medium wear. Jack, let's hit our three stories. Fifteen 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 a norm. She gets, 50%. That's a fat tip. Tea Boy City on your at list. If you know, you know, because we're to go. We can't wait no more, so just start the show. For our first story, Bitcoin just hit its highest level in two years, all thanks to the brand new Bitcoin ETF. A bunch of you DM'd us about what we think about this. We think this is Bitcoin's BitMitvah. Jack, in order to celebrate the Bitcoin Bitmitsfa, we should share that fun fact we discovered when we were researching this story, right?

The first application for a Bitcoin ETF was actually filed 11 years ago by the Winklevoss twins. And that got denied. But yesterday, 11 years later, a bunch of applications got approved. The SEC approved their first ever Bitcoin ETFs. The first Bitcoin ETF, an exchange traded fund, which is basically a cross between a stock and a mutual fund. ETFs don't represent ownership of a company like a stock does. It represents ownership of something else, often a big basket of stocks.

Jack, let's whip up an example here. Let's say you got a tech ETF. What is that going to look like exactly? A tech ETF lets you buy into a bunch of tech companies without buying a bunch of tech companies. With just one click, you own a bunch of tech. of tech stocks. Yeah, if you buy a tech ETF, then you own stock in Apple and Google and and meta and Tesla and Oracle and a whole bunch of more tech stocks. And then you can buy and sell

that ETF on the stock market, just like it was a regular old stock. And its price changes based on the prices of those underlying stocks in the ETF. Well, this Bitcoin ETF that's in the news right now, it represents a big old basket of Bitcoins. And now that the SEC approved it, 10 Bitcoin ETFs are already trading today on the stock market. Now, Jack, we should sprinkle on a little bullish, bearish, positive, negative context on this thing, shouldn't we, man? There is an advantage to owning a Bitcoin ETF instead of owning Bitcoin directly. Yeties, with a Bitcoin ETF, you don't need to set up a crypto account or keep a password for like some kind of crypto wallet in order to own Bitcoin. Anyone can buy a Bitcoin ETF with any old brokerage account.

But although there is an advantage, there is also a downside. to buying a Bitcoin ETF. With a Bitcoin ETF, you pay a management fee to the financial institution that set up the ETF. Yeah, it's a small fee, but hey, it's still a fee. It's a fee fee. There's no management fee if you buy Bitcoin directly. So besties add it all up.

And this is a huge milestone for our buddy, Ben the Bitcoin. The price of Ben, the Bitcoin, hit as high as $49,000 yesterday, which is the highest price for Bitcoin in over two years. Keep doing what you're doing, Ben. And because Yetis now, it's easier for mainstream investors to buy their own Bitcoins out there by buying into a Bitcoin ETF. In fact, one of those Bitcoin ETFs that launched yesterday set a record for the highest trading volume in the history of opening days for any ETF. But there is one thing Jack and I should clarify about all this fun Bitcoin ETF news. Yeah, the SEC approving a Bitcoin ETF does not mean the SEC endorses that Bitcoin ETF.

It was actually kind of hilarious. the SEC chairman, Mr. Gensler, basically said, we approve of the Bitcoin ETF because we have to by law, but we don't approve of Bitcoin. You're allowed to date, but we don't like your boyfriend. That's basically what he said. Let me get my shotgun. So Jack, what's the takeaway for our buddies, curious about the Bitcoin ETF? This is Bitcoin's BitMitza.

Yeah, it is if 2022 and 20203 was crypto puberty, then 2024 is crypto-adult. good. Because the vibes in crypto have been awful the past couple years. It's been referred to as a crypto winter. Yeah, Jack, first a bunch of stable coins failed and then entire crypto exchanges failed. Then millions of investors lost all their money, thanks to the fraud of Sam Bankman-Fried. But kicking off 2024, this new Bitcoin ETF is the most positive crypto news we have seen in years. This Bitcoin ETF doesn't fundamentally change anything about the value of Bitcoin. But it does change the narrative. And that's key.

That's why we think this Bitcoin ETF is Bitcoin's BitMitsfa. It takes us from crypto puberty to crypto adulthood. For our second story, the number one best selling spirit in America. This is a shocker. Get this. It's High Noon. And High Noon is winning by a lot. High Noon is eating up the rest of the drink industry because they don't sell the people.

They sell to time. Dry January. Pretty interesting time to make this announcement check. High noon just in. They're the king of liquor in the middle of dry January. Poured a little water on our whole dry January situation. It's not moist January. High noon is the alcohol startup selling fruit-flavored ready to drink canned cocktails.

Right. It's like vodka soda and tequila seltzer in a can. You've seen a high noon can. There's a yellow sun logo. It says high noon in Helvetica font. Yeah, the can kind of looks like a Wes Anderson film poster. Bingo. Yeah, it does. Endless summer. But Jack, we should sprinkle on some context to the whole liquor industry so that we can really understand and analyze this data. Last year, we covered the rise of tequila in America. Tequila, it's going to pass vodka this year as the number one liquor in America. We've also covered over the last couple years the rise of canned cocktail.

The fastest growing form of alcohol in America. So we were not surprised to hear that a canned tequila cocktail company, High Noon, was doing so well. But what we were surprised to hear was how well it's doing. You ready for this? High Noon sells more liquor than any other liquor brand in the United United States. Actually, Jack, I wasn't ready for that. It's a five-year-old startup, and they grew another 30% in sales last year. High noon sold $1.5 billion in retail sales. Jack, can you put that in LaCroy terms for us, please? That is 50% more sales than LaCroix. Yeties, if you look at cases of liquor sold in the United

States last year, get this. 10% of all liquor sold was high noon. We repeat, one out of 10 sips of liquor in America are from an aluminum can a High Noon. High Noon sold twice as much as Tito's vodka did last year. They sold four times as much as Jack Daniel's whiskey did last year. Put the Aprol Spritz in the basement. High Noon

is selling more than anything George Clooney is sipping while he's on his little motorcycle. So Nick and I got to ask, what is it? How did High Noon defy the fall of the Spiked Seltzer industry to become the number one spirit in America? Jack and I put dry January on pause for one night

so we could figure out how. And then we came up with this takeaway. So, Jack, what's the takeaway for our buddy is over at high noon? High noon doesn't sell to people. It sells to time. Yet, he's an interesting thing we noticed if you listen to the High Noon CEO. He doesn't talk about customers. He talks about times.

Instead of targeting a type of person to buy his product, he focuses on a type of use occasion. Now, Besties, most alcohol brands, they market a use case that is limited to a specific time of day. Beer, it's drank in the afternoon. Appertivo's drank before dinner. Wine, drink with dinner. And tomorrow is sipped after dinner.

Yes, it is. But high noon, it targeted occasions that most alcohol just, like, couldn't go into. It's a canned spike seltzer, which fits with your plans to drink at the beach. But it's also a cocktail so it's sippable at a formal dinner or a party. And it's called High Noon, which is basically a challenge to the guys at Sig App to pound noons before noon. So they basically broke down all the constructs of liquor and are able to sell into. different usage occasions. High noon became the top-selling liquor in America because it doesn't sell to people. It sells to a time slot. For our third and final story, chat GPT. It just used the

biggest tech event of the year for their biggest news yet, a chatbot store. There's now a chat GPT for everyone, just like the spice girls. But Jack, could you refresh our memories here? The last time we left off with Chad GPT. We had to record on a Sunday because the news was that wild. Yeah, Chad GVT had just fired and then rehired their CEO in like five days at two in the morning. It was wild. Well, they finally put that drama behind them because the CEO of OpenAI, Sam Altman,

just launched the GPT store. The GPT store. It's a marketplace for chatbots and they announced it at the CES tech conference over in Las Vegas. It's a big deal. Think of the GPT store like Apple's App Store. But instead of apps, you can buy chatbots. Oh, Jack, what's another way we could think of this?

I'm thinking from like a retail perspective. What do we got, man? That's like Toys R Us. But instead of a wide range of Beanie Babies for sale, there's a wide range of AI chatbots. Now, Yeties, this marketplace for AI chatbots, it costs a 20 bucks a month to access. So Jack and I, we jumped in T-boy style for you. We noticed that developers have already built 3 million different kinds of chatbots. And they did it using Open AIs chat GPT Technoondri.

And yet each of these bots is like an app. Each bot has a different name, a different look, a different brand, and a different purpose that exists in this app-like store. Some of them sound awesome, to be honest. For example, Jack and I discovered that there is a hiking bot. It's a hiking bot called the All Trails bot. I love All Trails. It's a great app. Now, with artificial intelligence, it can tell you the exact kind of hike you're looking for.

Here's what you would do. You would prompt the bot. You'd say something like, find me a thing. three to five mile loop trail. That dog friendly has great views of San Francisco within 30 miles of the city. The AllTrails bot is going to look through its collection of like 400,000 hikes and deliver you the perfect one that fits that request. And what would that be, Jack? The Tennessee Valley Trail, just on the other side of the Golden Gate Bridge. Or let's say you don't want to hike. You want to read a book, well, there's a book bot for that. You can tell that book bot that you loved that novel you just finished

all the light you cannot see. And you want the next book, something similar to that one. since this bot now understands you, it's going to recommend the perfect historical fiction, Paige Turner, for you to read. Or Nick, you can create your own bot using ChatGPT's technology. All right, so Yetis, this is where Jack and I had some fun today. We decided we could create a Ninja Turtle bot

that makes personalized pizza recommendations. A different turtle each day of the week. You'll tell it you like Detroit-style pizza. It's going to tell you the perfect spot. So Yeti's added all up, and every one of these bots we just mentioned is different. They have a unique purpose, a unique brand, and their own personality. But each one of these bots is also the same.

Every bot in the GPT store is built on OpenAI's ChatGPT technology. And that part is key. So Jack, what's the takeaway for all our buddies in the bot store? ChatGPT is using the same strategy as the Spice Girls. The Spice Girls strategy. Yeties, the Spice Girls are great singers, but in a world of a lot of great singers. To stand out, the spice girls blew up with a marketing trick. The marketing trip they used was that they marketed each singer with her own unique personality.

Sporty spice, posh spice, baby spice, scary spice, and ginger spice. You could find yourself in like each one of those spice girls. They were all the same singing talent, but different personalities. And that drove excitement. It's the same strategy behind ChatchipT's new bot store. It's all the same AI technology, but different bot personalities to, drive engagement. Chat GPT can feel overwhelming. It's a monolithic artificial intelligence. You don't know what to ask it because it knows everything. I was preparing for the pot the other day with you, Jack.

I just got lost in there. It's a lot. But specific chatbots with specific purposes and specific personalities, I want to engage with them. And that is the spice girl strategy. Jack, can you whip up the takeaways for us for the three-day weekend? The SEC approved the first Bitcoin ETFs, which makes it easier to invest in Bitcoin. It's a BitMitsfa transition from crypto puberty to crypto adulthood. For our second story, it's High Noon. They sell more liquor by volume than any other legal brand in America. High Noon, they're not targeting a human customer. They're targeting a time. And our third and final story is OpenAI. Their GPT store launched this week. Three million different chatbots for specific purposes. The way we see it to become approachable, chat GPT is using

the same strategy as the Spice. girls. But best use this pod's not over yet. Here's what else you need to know today. First, inflation creeped up in December to 3.4%. That is not the direction the Fed was hoping for, Jack. It pours cold water on hopes for interest rate cuts coming next year. And second, we found out exactly what Alaska Airlines is offering the passengers from that plane whose door fell off. It's $1,500. They're basically saying, I'm really sorry about that scary experience. Here's $1,500. And finally, it is official. We have a new biggest publicly traded company on planet Earth, and that company is Microsoft. Microsoft stock gains have made it pass Apple as the most valuable company in the world at $2.8 trillion.

Now, time for the best fact yet. This one sent in by Savannah Westwood from lovely Orlando, Florida. Monday is a day of service. It's Martin Luther King Day. Markets are closed, and so is our pod. So, Yetis, you probably know Martin Luther King's most famous moment, the I Have a Dream speech. But you may not know how long it took him to write that speech. Get this. MLK, he wrote the I Have a Dream speech just 12 hours before he actually gave the speech. Now, he didn't give the speech for the first time on the Lincoln Memorial in Washington, D.C. Good point, Jack. A lot of people don't realize that about MLK.

A couple months prior, he delivered it in North Carolina and then again in Detroit. And he handed his handwritten speech to a student at the school where, he gave the speech, and that guy still has the speech to this day. So Jack, how about we hand things over to someone who would have definitely had a podcast and has a way better voice than ours? So let freedom ring from the prodigious hilltops of New Hampshire. Let freedom reign from the mighty mountains of New York. Let freedom ring from the heightening alleghenies of Pennsylvania. Let freedom ring from the snow cap rockies of Colorado. Let freedom ring from the crevacial slopes of California.

But not only that. Let freedom ring from Stone Mountain of Georgia. Let freedom ring from Lookout Mountain of Tennessee. Let freedom ring from every hill and mole hill of Mississippi. And before we go, we've got some shoutouts. A happy birthday to Yeti Paige Wilson, and turning 31 with her whole office over in Minneapolis. Happy birthday to Pedro Vela from Monterey, Mexico.

And Jun J. Liu in San Francisco is hoping to celebrate that 29th birthday with family in China. Happy birthday to Charlie Neely, who's celebrating with a ski trip in Park City, Utah. And Caleb Alter, happy birthday over in Princeton, New Jersey. Happy birthday and first anniversary to Valerie Howard in Denver, Colorado. And Colin Moiseev is celebrating a birthday and a five-year-old. year anniversary with his girlfriend down in lovely Los Angeles. Happy birthday to Simon Stein, who's celebrating his 21st with the Willamette University soccer team, but is missing his girlfriend, Audrey, who's at UCLA right now.

And a happy birthday to Mello the Puppy, who's turning 12 years old, which is really old and all years over in Vancouver. And congratulations and Gruchwunsch to Rotimi Babeloa, who got his driver's license over in Berlin, Germany. Mark Schnell, but not too much Chanel, Jack. Not too much, now. And congratulations to Pugia Berdiah, who opened a new optometry business target obstacles on Long Island.

And to anyone else who's celebrating something today, make it a T-boy. Celebrate the wins. This is Jack. Nick and I both own stock of Apple. We both own a Bitcoin named Ben.