The Best One Yet - BONUS 💝 “Best of 2022” — Our 3 Favorite Stories of the Year

Episode Date: December 19, 2022

From Zuckings to Suckflation, Smeals to Funa… it was a wild year. So we whipped up our 3 favorite business stories of 2022:Airbnb became a Party Pooper with a PurposeKFC created its 1st chicken nugget to capture your window of loyaltyTrader Joe’s launched a $9 facial sunscreen because everyone loves a secretFollow The Best One Yet on Instagram @tboypod for more bonus material we’re droppingPlus, look out for our next holiday Bonus episode… our 2023 Predictions Pod (spoiler: It’s The Best One Yet).$ABNB $YUM $BXLearn 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 some time over the holidays, and today's bonus pod is the best one yet. We're on vacation, but we whipped up an extra special T-Boy for you. We're hitting the best of 2020 album of the best one yet. Yes, we have a bonus pod today and another bonus pod coming one week from today. Oh, also, Jack, we're posting all that bonus pod extra bonus footage on Instagram all week long. Yes, follow us at T-boy pod on Instagram for some holiday specials.

In the meantime, Jack, Can you whip up our three stories for us? Our first favorite story of the year is from June 29th on Airbnb. Because Airbnb is a party pooper with a purpose. Our second favorite story of the year is from July 20th on KFC's first chicken nuggets. Because KFC found the window of loyalty. And our third and final favorite story is from July 29th on Trader Joe's $9 facial sunscreen. Because Trader Joe's, he knows everyone loves a secret.

Trader Joe himself confirmed it. Funny thing, he was shorter than Jack and I expected. Besties, before we hit that wonderful mix. I love this mix because this is a very particular mix. Our three favorite stories of the year. It really is our best of album of the best one yet, Jack. Watch out Barber Strais, and this is our greatest hits. Hey, Ticketmaster, why don't you get ready for this one?

Now, Yeties, 2022 had more highlights than it had shark bites. 2020 had more twists and turns than Mavericks F-14. So how on earth can we pick the three best stories of the year? Jack, how in the Metaverse can we pick our three favorite takeaways of the year? Well, we checked the S&P 500. Stocks fell 20% this year. Yeah, Lyft is now worth half a lift. And it was way worse for Ben the Bitcoin.

Yeah, crypto chill became a crypto winter. Which became a crypto blizzard. But handbag valuations, those hit supermium highs. Now, economy-wide, we all suffered from double-digit lattes. But that Costco hot dog deal is still a buck 50. When China got sick this fall with COVID, the global economy coughed. When Elon tried to buy Twitter this sprint. Elon tried to not buy Twitter this spring.

But then Elon ended up buying Twitter this fall. And now Twitter kind of owns Elon this winter. Nick, can you tell us the biggest IPO of the year? Jack, that would be Porsche, or is it Porsche? Or is it Porsche? Can you tell us the biggest business pivot that we covered on the pop? Oh, Jack, that would be Hershey's chocolate, pivoting to Hershey's pretzels. Yes, it was.

How about the biggest rest in peace of business this year? Oh, Jack, we lost the Chaco Taco Taco. We did gain the Adult Happy Meal. And then McDonald's sold out of the Adult Happy Meal. Yeah, so RIP to that tip. Yet he's swiping on new homes hit all-time lows. But swiping on dating apps hit all-time high. Besties in all those headlines of all those takeaways in all of those podcasts.

We think these three stories were the first. favorites of the year. Jack, does that mean these are the best ones yet? The best one yet? If you know, you know. Let's hit our three best stories. 15 years before this song, two boys from the northeast met in the dawn. They had an idea to cause a cultural storm. It's the best one yet, but they need to practice. 50% that's a fat tip. Tea Boy City on your at list. If you know you know, because we're read to go. We can't wait no more. So just start the show. Start the show. For our first favorite story, we're going back to June

29th, 2022. Airbnb is a party pooper with a purpose. Now, yet, he's Jack and I picked this story because it was actually one of our most listened to episodes of the whole year. We also picked the story because we like saying party pooper with a purpose. Honestly, it kind of rolls off the tongue. Can you give us one more, Jack? It's the four peas. Party pooper with a purpose. Jack, let's hit that first story. Airbnb is pulling a party pooper. No parties allowed ever again. But this is party pooping with a purpose. Ah, Jack. Let's jump in T-boy style to the house party. When otherwise decent people go out of their way to make a mess.

Yeah, it's like the morning after Tanya's 25th, and with each step, your sneakers are sticking to the stone tiles. The cans are clanging as you wade past all those wounded soldiers. Jack, nobody turned off the stereo. Your pet looks traumatized, and there's something orange that's in the pool. Dibbs are not going to see what's in the pool. Honestly, who got that pool toy? Yeties, house parties are to homes as hurricanes are to harbors.

They're damaging. They're damaging. Yeah. And that's why no homeowner wants their house ravaged by Sal and Sandy from Sigab. And that is why every six-bedroom listing over in Austin has no parties in all caps right under the title of the listing. Well, now Airbnb is making it official. Airbnb just announced no parties, period, at any Airbnb ever again. The parties have been pooped.

Vesties, this all goes back to August 2020. When Airbnb banned parties as a pandemic precaution. like a temporary thing. This was a test. Here's what was going on. Bars and clubs were closed. So people were moving the ragers into like the Airbnb they rented out instead. Which were becoming super spreader events.

So like the whole neighborhood was getting angry at Airbnb because of all these parties. Now it's two years later. Airbnb has looked at the data and they like the results of this test. Yeah, get this yet. He turns out complaints from hosts and neighbors around Airbnb's fell 44%. Fewer noise complaints. fewer emails with subject line, what is that orange thing in my neighbor's pool? Definitely not a pool toy. So Airbnb just issued a PR release saying that the party ban is now permanent.

Now, a ban is only as good as its enforcement. So guess who violate the party ban are going to get suspended from using Airbnb. Jack and I jumped into the numbers. Turns out 6,600 Airbnb users have been suspended in 2021. And if you violate a second time, you're expelled forever. Ever. Two strikes in your out. So, Jack, what's the takeaway for our buddies coming down hard over at Airbnb? For most apps, friction conflicts with growth. For Airbnb, friction fuels growth. Okay, Yeti's, the goal of every tech app out there eliminate sign-up friction.

The more clicks it requires to set up an account, the fewer people will finish setting up their account. But what Jack and I find fascinating about Airbnb is that their sign-up flow is the opposite of every other. platform, it embraces friction. I've signed up on Airbnb as both a host and a guest. As a guest, you need to verify your identity. Airbnb compares your selfie pick to your real government ID. As a host, Airbnb is committed to verifying your property that you're listing and all seven million other properties listed on Airbnb. Honestly, they're even checking some of them on foot probably. Those are big investments in security that are expensive for Airbnb and have definitely caused some people not to finish setting up an account. But guess what? Hosts love that the guest

in their house isn't anonymous and is actually held accountable by Airbnb. And guests love that that three-bedroom too good to be true ski condo and Aspen isn't too good to be true. It's actually that good. Besties, for most apps, sign up friction like Airbnb's. That would kill growth. For Airbnb, that friction fuels growth. For our second favorite story of the year, we're going to back to July 20th, 2022. That's when KFC launched their first chicken nugget to enter the window of loyalty. All right, Yetis, Jack and I chose this story because it was like the most shared takeaway of the whole year. Apparently, Yeti's love KFC's chicken nuggets.

Who wouldn't blame on? But they love the window of loyalty more. There's nothing more fun to jump into. Jack, let's jump into that second story. KFC is planning its first ever unprecedented. Chicken nuggets. Because there's a three-year window of loyalty. And once it closes, it's closed forever. Oh, KFC, they're devouring 750 million chickens a year. They have the world record for largest bucket of fried chicken in the world. And yet, despite all those chicken records, KFC has never done a true nugget.

By the way, that bucket was 2,000 pounds, Nick. For the record, that's a record. It's like nine feet tall. Sit down, stand up and eat back up again. But here's the news. KFC is launching their first chicken nugget in their 92-year history. It isn't a tender, is it? It's not a tender, right? No, and they've done popcorn chicken, too. This is a bona fide, well, no bones, actually, chicken nugget. We're talking a 12-36 piece testing in North Carolina.

They're tossing 11 herbs and spices on this 100% white meat, Jack. Dip it in a friar, that's it. But the other surprise here isn't just the nugget. What Jack and I found fascinating is the explicit reason why. KFC was very upfront. They were. We're targeting Gen Z and millennials with this chicken nugget because they prefer boneless. It is. Put it right out there because nothing is more chuggy than meat with a bone.

Now, the way Nick and I see this story, KFC isn't just targeting Gen Z. They're really targeting the window of loyalty. The window of loyalty. Sounds like something from a fairy tale. Yeah, it does. But actually, the window of loyalty isn't about a demographic. It's about an age. It's a three-year window in everyone's life when young people grow loyal to a brand.

Now, the window of loyalty is a theory that was first developed by FSU professor Jeff James, Dr. Jeff James, focused on sports. He noticed that kids are age 9 through 12 when they become loyal to a sports team. Because at age 9, kids develop complex operational thinking, and that makes them capable of fandom. When I was age 9 to 12, the Yankees won back-to-back-to-back-world series, and now I'm a fan of that team for life. Perfect timing. Jack sounds like Jorge Posada.

jumped into your window of loyalty. And if you become loyal to a team from those crucial years, 9, 10, 11, and 12, then even if you leave that hometown, you're still going to love that team from your child. And that is why the Yankees increasingly focus on more family nights. And that is why KFC is whipping up their first nugget. KFC needs the fried chicken item that kids want. They do. Nuggets so that kids choose KFC for their entire fried chicken future. So KFC's new nugget is trying to jump through a kid's wheel.

of loyalty before Ronald's McNugget can. Great job, dude. I got nothing to say. So, Jack, what's the takeaway for our buddies over at KFC? The window of loyalty opens up to lifetime value. You still got nothing to say or you want to whip something up here. Yeties, it is important as entrepreneurs to think not just about the one-off transaction with a customer, but about the lifetime value of that customer. Because if KFC can sell a chicken nugget to a kid today,

Then it can sell that kid fried chicken sandwiches in 10 years when he's an adult. And then 10 years later, it can sell her a bucket of family-sized chicken. That's lifetime value. And here's the thing. Yes. Lifetime loyalty doesn't just boost sales. It saves money to. Because if your mouth commits to KFC by age 12, that's less marketing money KFC has to spend to convert you.

Lifetime value means KFC gets your fried chicken sales for life. And that is why the window of loyalty is worth jumping into. And that's all I got to say about it. that. Now, a word about our sponsor, Robin Hood. You know, honestly, your salad, it says so much about you. Nick, you like to blaze your own trail at the salad bar. Yeah, I'm ordering a salad. I go off menu, man, like a combo of kale and croutons that has never been made before. Me? I'm not reinventing the wheel. I like to go classic. Sweakerian thinks it's a good combo. Jack's not going to change that. Kind of like investing strategies. Someone to build a custom portfolio of

stocks, crypto, and options. Others don't want to reinvent. Just give me the most standard ETF. Whether you're tweaking your one-of-a-kind portfolio every day or prefer a more hands-off approach, Robin Hood has the tools. If you're not investing on Robin Hood yet, to get started, go to Robinhood.com slash T-Boy to choose your free stock. That's robinood.com slash TBOI. Limitations apply. Stocks offered by Robin Hood Financial LLC, member SIPC. Crypto offered through Robin Hood crypto. All investments involve risk. By the way, this podcast is not owned or part of Robin Hood, and we are not employees of Robin Hood. For our third and final favorite story of the year. We're going back to July 29th, 2022. Trader Joe's

Zucked Super Goop sunscreen and it worked. All right, besties, Jack and I chose this story because it just had the highest social engagement of anything we've ever posted on social media. We posted on TikTok, got by far the most views. By far. And that was before we got shadow banned on TikTok. Yeah, after that, it wasn't as fun as story. Jack, let's go back to Trader Joe's sunscreen, July 29th. The biggest business battle this summer, it's over a $9.0. Trader Joe's bottle of sunscreen. It's a tube, not a bottle. That's fair clarification. Trader Joe's $9 facial sunscreen is disrupting the SPF industry. Can we talk about that, like, worst feeling everyone gets in the middle of July, Jack? You put way too much on your hands, and now your body is covered in white zinc oxide.

Yeah, it looks like you're sponsored by Benjamin Moore. You've been shalachlap. You're Casper the self-conscious ghost walking the beach. Hey, my name's Sherwin Williams. Yeties, the one facial sunscreen is having a moment right now. And that facial sunscreen is the Trader Joe's grocery store sunscreen. Yep. Trader Joe's daily facial sunscreen is trending on Twitter, trending in Trader Joe's stores. One tweet got 100,000 likes.

Jack and I jumped in T-boy style on TikTok. It's got 7 million views. And here's the funny thing. It looks just like this really popular product that both names. Nick and I have bought called Supergoop. Yes, Supergoop, a $700 million startup that was acquired by Blackstone, full disclosure. Actually, I'm wearing it right now, actually. Oh, you are?

Yeah, it's like, that's why I got a little glisten right now. So a lot of people are doing dupe tests, trying to see if you can tell one product from the other. Right, because both these sunscreens are clear. Both these sunscreens have SPF 40. Both are sweat resistant. Both are water resistant. They both have the same for UV blocking chemicals. In fact, you look at the bottle, the tube, sorry.

Same exact ingredients on the label. There is one key difference between these two sunscreens and what is that difference, Jack? Trader Joe's cost nine bucks. The same size product from Supergoop is $36. Every single variable is the same between these two products and yet Supergroup is four times more expensive. Now, this looks to Nick and me like a legal zucking by Trader Joe's legal zucking. And it's because the Supergroup formula has no patent protection. Now we know what you're thinking.

And why is there all this drama about two different sunscreens right now from a grocery store? Because sunscreen is so hot right now. Sunscreens the fastest growing cosmetics category thanks to everyone under the age of 40. Thanks to Nick's under 40 face. Look, it's dewy. It's dewy. Yeah, these boomers, you know, they grab the eyelash grower in the lipstick. Gen Z reaches for the SPF. Millennials are also acting like epidermis experts.

We're going college and crazy out there, Jack. You know I put college into my coffee, everyone. I've heard about it and you look fantastic. The kids these days, they don't know what SPF stands for, but we know it slows the aging process. That's why we're seeing the rise of an amateur dermatologist, a new demographic, the Schinteligencia. Excuse me, how much zinc oxides in this product? Is this product coral reef safe neck? For sec, oh, yes, paraben's no, man.

Just no. And that's why startups, a private equity firm, even a grocery store chain, are now jumping into sunscreen. They all want the Schinteligencia. So, Jack, what is the lathered-up takeaway for our buddies over in the sunscreen industry? Brand equity can get burned too. Yetis, we've seen this playbook before, mainly in the pharmaceutical industry. You buy Advil for one price, or the same exact generic bottle equivalent from CVS is half the price. It's sitting right there.

Yeah, same formula, same product. But will you pay more for one thing? The brand. Yeties, the difference in price between the generic cheap version and the branded expensive version. That is called brand equity. So the question is it would you pay four times more for the same sunscreen? It's would you pay four times more to be associated with Super Goop instead of Trader Joe? Or do you trust Supergoop more than Trader Joe's enough to pay four times more for it? Those are the brand equity questions. For years, Supergoop's brand equity, let it take a huge profit margin. But now Trader

Joe's is testing the strength of that brand equity. Jack, instead of whipping up the ticket, takeaways for us for today's bonus pot. Can you give us like one last cookie crisp of the year? Gahooke Kris. That was impressed. That was like zero to 60 in zero seconds. I'm so glad you asked me for it. I just threw in a little oat milk into that thing.

I love to be the court jester for this pot. Anyone here from out of town? All right. Now time for the best fact yet. This one sent in many moons ago by Nada Harara from lovely San Francisco. The brain is the only body part that named itself. Yeties, let that sink in.

The brain is the only body part that named itself. The elbow didn't name itself. No, it couldn't have. My big toe didn't name itself. But my brain did. Your kidneys are smart. You even got two of them,

but even they couldn't name themselves. Jack, my brain is telling me to sit down, stand up, and sit back down again. Yeties, you looked fantastic to kick off the holidays. Jack is going to be flying to Florida. I'm heading out to Tokyo tomorrow.

Don't forget the week I'm spending in Frid Vermont, though, Nick. You have a very nice contrast going on there. Extra flannel to zero flannel. And remember, Yetis, follow us on Instagram at T-Boy pod for some bonus material. I love our greatest hits album, man. Have a fantastic holiday. If you know, you know. This is Jack, Nick and I both own stock of Airbnb and Robin Hood, and we both own some Bitcoin.

Bitcoin named Ben. Oh, and we didn't mention Peloton, but we still own shares of Peloton, too. New Year's resolution. Yeah, Jack. Somebody take our Peloton. Now, a word about our sponsor, Robin Hood. Okay, so Jack and I both worked in finance for a while. And we know the six-monitor Bloomberg jockey, with charts, numbers, balances, and more charts.

They got coffees in both hands while they're executing some complex trade on a soybean future. Well, we're not trying to impress with our mission control trading center. Just give us an app, please. Robin Hood, with its mobile first and intuitive design, it lets you trade with just a few quick taps on their app. And even if things still don't seem easy, Robin Hood has your back 24-7 with its live and robust customer support. If you're not investing on Robin Hood yet, to get started, go to Robinhood.com slash T-Boy and choose your free stock. That's Robinhood.com slash T-B-O-Y. Limitations apply. Robin Hood Financial LLC, member SIPC, all investments involved for us.

By the way, this podcast is not owned by or part of Robin Hood, and we are not employees of Robin Hood.