The Best One Yet - 🇧🇷 “Brazilian NFL” — Football’s foreign strategy. J.Crew’s $3B comeback. AI’s dragon startup.

Episode Date: September 5, 2024

The NFL season kicks off tonight but plays game #2 tomorrow in Brazil… because football needs a global tour.J. Crew is relaunching their iconic magazine… because the preppy brand is enjoying all-time-high sales.A former OpenAI exec just raised $1B for his rival startup… because he’s one of the rare dragons of AI.Plus, we’re hosting our 1st LIVE Hotline show in Seattle on Thurs, 9/26 — Join us as we answer your questions on money, spending, and personal finance. Tickets here: https://www.eventbrite.com/e/the-best-one-yet-hotline-live-presented-by-audible-tickets-1002624325347—-----------------------------------------------------GET ON THE POD: Submit a shoutout or fact: https://tboypod.com/shoutouts FOR MORE NICK & JACK: Newsletter: https://tboypod.com/newsletter Connect with Nick: https://www.linkedin.com/in/nicolas-martell/ Connect with Jack: https://www.linkedin.com/in/jack-crivici-kramer/ SOCIALS:Instagram: https://www.instagram.com/tboypod TikTok: https://www.tiktok.com/@tboypodYouTube: https://www.youtube.com/@tboypod Anything else: https://tboypod.com/  Hosted on Acast. See acast.com/privacy for more information.

This is Nick. This is Jack. It's Thursday, the new Friday. September 5th. And today's pod, today's pod, this is the best one yet. Feels like a T-Boy. The top three pop-biz news stories you need to know today. I mean, Jack, I don't want to spoil the surprise, but fun announcement coming up in our intro pretty soon. Live show announcement coming up in our intro pretty soon. Three stories on today's show. What do we got on the pod, Jack? For our first story. The NFL season kicks off tonight. You got the Kansas City Chiefs first of Baltimore Ravens. I don't. I don't know if T Swift is going to be there. But Jack and I found the three business themes of this year's football season, Private Equity, Fridays, and Brazil. For our second story, Jay Crew is relaunching their iconic physical catalog after seven years. Pause the paw, Jack, it's a magazine. It's a magazine, not a catalog.

Well, this preppy band has made a $3 billion comeback that we want to tell you about. Jay Crew is back, baby. And our third and final story, one former Open AI. executive has launched his own AI startup and just raised a billion dollars for it. Because just like Open AI, this tiny startup has a dragon. But yet is, before we hit that wonderful mix of stories. Fantastic mix of stories. Love the mix, Jack. We've noticed there's one type of question we get from you, more than any other type of question. It's questions about money. Personal money. Investing money. Money, money. Double-digit latte money. Did I spend too much on that latte? Yes, I did.

Let's dedicate an entire episode of our show to your money. And we are doing that episode live with a studio audience in Seattle, baby. Call Nirvana because we're coming to the Pacific Northwest. We partnered up with Audible, the audio app, to make this special episode happen. This special episode is a hotline episode, taking your calls live all about personal finance. What kind of questions are we going to be asking from the eddies, Jack? Do I need a 401K and how much money should I give to it? Should I buy or should I rent?

Is a pet pre-nup really necessary? Hey, Sparky, bark twice if you want in on the will. But we didn't stop there for this special episode of T-Boy Hotline. No, no, no, no, no, no, no, we did not because we also got a special guest for this special show. And this special guest knows more about money than Alexander Hamilton did. So together, we're going to tackle your questions about personal finance live in lovely Seattle. So if you're in the Seattle area on September 26th, we want to see you. Tickets are live too. Starting today, just click the link in the episode description.

It's our T-Boy Hotline live show on Money. And it's live in Seattle with a special, special guest. So, Yetis, in this episode, if you're there, we're going to C-YA. Cover your assets. Link in the episode description. Get your tickets now. Nick, let's hear our three stories. Razzle-dazzle in Seattle, Jack, let's hit it, baby. Fifteen years before this song, two boys from the Northeast met in the dorm. Yeah, it caused a cultural storm. It's the best one yet, but the best is an norm. Jack Nick, that's it.

I don't even think 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 ready to go. We can't wait no more, so just start the show. Start the show. First, a quick word from our sponsor. Our first story.

The NFL season kicks off tonight, a playoff rematch between the Chiefs and the Ravens. We've found the three themes of this year's NFL season. Private Equity, Fridays, and Brazil. The NFL, they've had the number one most watched program on TV for 13 straight years. Sorry, NCIS. This isn't touch football. This is tackle. Yellowstone, take a seat. And it's all but assured to keep that street going tonight as the Kansas City Chiefs host the Baltimore Ravens. Taylor Swift, TBD, will be waiting, FYI.

Kelsey plays better when she's in the stands. But yeties, we're going to leave the debate over whether Aaron Rogers has any gas left in the tank to, you know, AM radio for tomorrow morning. Instead, we're going to tell you the three big business themes of the NFL this year. The three big business themes of football this season, Jack, theme number one, what do we got? Private equity. Due to a rule change, the 32 NFL owners can now sell up to 10% of their team to a private equity firm. Your P.E. buddy from business school just got drafted to the New York Giants. Not too shabby.

And why'd they do this? Because NFL owners are incredibly rich on paper. Yeah, NFL teams are worth about $5 billion to $10 billion right now. That is more than the lift. But since some of those owners are tight on cash, they can now sell 10% of the team for like $500 million. To a private equity financial firm with a whole lot of cash in the bank. We're so glad these NFL owners are. getting some financial relief. I mean, Jack, Jerry Jones will now finally have the liquidity he needs to buy a third home for his fourth yacht. What's the second theme of this year's NFL season there? Jack, the second theme is Friday. Because NFL games will be shown on Friday this year.

Now, yet, he's historically the football god scheduled football as so. High school gets Fridays, college has Saturdays, and the pros get Sundays. Now, Jack, the NFL has started a hostile takeover of our calendars, hasn't it, man? ago, they expanded to Thursday. 70 years ago, they expanded to Monday. But this season, they're expanding to Friday. For the first time ever, three Friday games are going

to happen this season. It's going to mess with some high school date nights. It's going to mess with some adult date nights, too, Jack. There's going to be a Friday game on Black Friday, the day after Thanksgiving. On Amazon Prime. There's going to be a Friday game on Christmas Day this year. On Netflix. And there's going to be a Friday

game tomorrow. The Real Friday. Tomorrow, on Friday, the NFL will play their first ever game in Brazil. Jack, there's going to be Feijwana, there's going to be Ciprinas, there's going to be a whole lot of Mito Abregato in Copacabana. But this actually leads to our third theme, which happens to be our takeaway.

So Jack, what's the takeaway for our buddies over at the NFL? America is exporting American football. Yet is, American football is called American football for a reason. We're pretty much the only country that actually plays it. And yet, the NFL is the leading major pro sports league in the U.S. in terms of how much they play abroad. Case and point, the Eagles are hosting the Packers in Sao Paulo, Brazil tomorrow night at 815 Eastern Standard Time.

And it's not just Brazil. The itinerary for the NFL this season includes three games in London, one game in Munich, Germany, and next year, they're going to Madrid. In fact, get this, besties. Even though the NFL has the fewest games of any league, they're playing the most games outside of North America of any league. The NBA only plays two games each season abroad. Major League Baseball and the NHL play four games abroad.

And yet the NFL has five games that need a passport stamped for those players to play abroad. With the domestic market for sports fandom totally saturated, it makes sense the NFL is looking abroad for new fans. Just like any company would. And honestly, Jack, if you had the Niners playing the Jaguars in the Roman Coliseum, we would probably fly to go see that game. I think it'd be awesome if every team had one game they played abroad every year. It'd be like their study abroad program. I don't care what the season ticket holders say, you got to play at least one game on an aircraft carrier. The fascinating nugget as the

NFL kicks off this season is this. The least international game is winning internationally. For our second story, after seven years, Jay Crew is bringing back its iconic physical catalog. We mean magazine. Because Jay Crew has pulled off a $3 billion preppy clothing comeback. Yet is for a year. Jack and I have been telling you about the incredible comeback story of one stock in particular, Abercrombie and Fitch. But Abercrombie's got competition because J. Crew is experiencing a collar-popping renaissance right now. Abercrombie stocks triple J. Crew just said, hold my polo shirt.

Yeties, ten years ago, Jay Crewe was confused. After decades of prep dominance, they were losing to fast fashion, and the brand was a billion dollars in debt. Then in 2017, they had to shut down their iconic Jay Crew catalog. It was not looking fun of Jay Crew. And a few years later, during the pandemic, they declared bankruptcy. But we got an update on Jay Crew. That's going to make you sit down, stand up, and go right back into that fitting room, Jack. Jay Crew is not just out of bankruptcy. Jay-Crew sales are at an all-time high right now. Hold on to your Pearls Yetis because Jay-Crew is catching a 90s nostalgia wave that has created an all-time sales high. They're on

pace for $3 billion of revenue this year, which is almost on par with Abercrombie and Fitch, American Eagle, and Urban Outfitters. It's a polo shirt pop. It's a blazer burst. Jack, dare I say, it is a sear-sucker surge. Dareth you, Nick, dareth you. Jay-Crew 2024. But here's the real news of this week. Crew is bringing back their catalog. And that's a big deal to Jack and me, because Jay Cruz's catalog was Jay Cruz's original disruption. First, some context yetis. Jay Cruz catalog, it's more of a magazine, really. Yeah, because it's not just pictures, descriptions, sizes, prices, and finding out that you've got to drop $74 on a bundedown shirt, is it, Jack? It's not just

products you can buy. They have elaborate photo shoots of like a beautiful scene on a yacht or on a beach that you wish you were a part of. But then they accompany the photo shoot with an article that goes into culture, like about the oyster variances you can get when you're eating in Charleston. This is peak Americana Prep on paper. And while you're reading

those 700 journalistic words on slurping oysters, maybe you do buy that oversized Oxford directly from the catalog. It's the next best thing to living that gorgeous lifestyle you see on the pages. Now, 40 years ago, that was called nothing because it didn't really exist yet, but today we called an editorial ad.

Jay Crewe pioneered the editorial ad with their first magazine they published in 1983. In fact, Jay Crewe was really more of a media business when you think about it when they first began. Back then, they issued 13 magazines a year that reached 2 million readers who were all inspired to try to live the Jay Crew lifestyle by buying some of those clothes. Two million readers is basically Time magazine. In fact, Jay Crew didn't even have a story. for their first decade, didn't they, Jack? They were just a magazine. And you ordered through mail-in orders.

Well, now, after a seven-year absence, despite the fact that I'm actually still wearing Slim-Fit J-Crews, right now, Jack, Jay-Crew is bringing back that magazine for this fall season. Yep. On the cover is Demi Moore, who they interview in the magazine. They shoot the photographs on physical film,

and she's wearing an oversized cable-knit sweater that you can buy on page 71. Jack, it's getting. even Dawson's Creek vibes. And I'm here for it. So Mickey Drexler wants the takeaway for our buddy is over at Jay Crew. Jay Crew is flexing their brand archaeology. Now, yides, there is a term in branding called brand architecture, the overall structure

of your brand. But we'd like to introduce brand archaeology, which is the lost details of your brand. Yes, for Jay Crew, that magazine is gone, but the data showed it was still a very much beloved feature. Old J. Crew Magazine still sell it on eBay for $250 bucks today. In fact, there is an unofficial Instagram handle for the J.Crew magazine that has 80,000

followers. It's called Lost J.Crew. Well, in this moment of nostalgia, J.Crew is digging up the artifacts of their brand and sticking them back on display. Just like McDonald's has done recently with Grimmis and their old fast food happy meal characters from 20 years ago.

So, besties, as Jack and I see it, if your brand's got archaeology, there can big value in digging it up. Now a quick word from our sponsor. For our third and final story, OpenAI has a new arch rival in the Artificial Intelligence Wars. A brand new startup just raised a billion dollars from venture capital because they have a dragon. They have a dragon.

Now, you had to use last November, we experienced the biggest drama in tech history. In just a few days, Sam Malt, was ousted from and then rehired by OpenAI. The intelligence was artificial, but the drama was real. Well, one of the people who pushed Sam Altman out was Ilya Sutskever, the chief technology officer of Open AI. Ilia, he thought that the company was moving too fast and was breaking too many things, so he quit the biggest AI company in the world.

He clashed with Sam Altman, so he's not there anymore. Well, here's the news, yet is Elia. That former Open AI executive just launched a rival startup and its name is Safe Super Intelligence. And Safe Super Intelligence just raised $1 billion at a $5 billion valuation. That is one of the biggest, fastest fundraisers ever. This company was founded just a couple months ago. They've already got a billion bucks in the bank. More on that in a minute.

In the meantime, how would we sprinkle on context to what this company is, Jack? Safe superintelligence looks like the minivan of AI. It's not fast and furious. It is slow and safe. Yet is the business plan for safe superintelligence is kind of in the name of the company. Their plan is to scale safe super intelligence, like safe AI. Now, between the lines is where we get some of the nuance. They basically are going to try to build AI, but make sure it doesn't turn against us and destroy humanity.

So instead of moving fast and breaking things, they're going to think about how bad asses, actors might use AI and then protect us against that misuse. So if Open AI is a Ferrari, Safe Super Intelligence is a minivan with extra bumpers, helmets for all the passengers, and they'll never drive above 65. They're going to have seatbelts on the seatbelts. Now, we should point out, safe superintelligence hasn't shared details on how they're going to actually be safer. No, that's a good point, Jack. But they have said that their hiring strategy will be based on the applicant's good character, which is a little jab at Sam Altman, I think. Because, you know, Sam Alma would probably do whatever's necessary to win the AI arms race.

And say whatever's necessary to win the AI arms race, too. Speaking of hiring, though, Jack, this company only has 10 employees, but they got a $1 billion check from venture capital? This company is just a handful of guys right now. And they're already getting a billion dollar check. That is wild. And that led to our takeaway. So, Jack, what's the takeaway for all our buddies over? tech. This is a tech unicorn that has a dragon. Yeties, once again, this company was founded over the summer, and they've only got 10 employees, no product, and no code. It's insane that venture capital thinks they're worth $5 billion already. It is wild that they just received a billion dollar check

to go and develop AI. Well, the reason why they got all this money so fast? Because Safe Superintelligence has a dragon. They have a dragon. They have one of the first. few techies in the world with a deep understanding of AI. Now besties, generally speaking, tech startups become unicorns by having great talent. But AI is so novel, so cutting edge, it's such an exotic science. There are few individuals who can scale it. And those few individuals are like the dragons in Game of Thrones. Having one of them immediately makes you a huge formidable threat. The top venture capitalists recognize that Ilya Sutskever is one of those dragons. He work to Open AI during those crucial years. He knows how to do AI. He's the talent that they made

the $1 billion bet on, the dragon. So this 10-person startup, it's already a tech unicorn after just a couple months because it has an AI dragon. Dracars. Jack, and you and that J-Crew cardigan will whip up the takeaways for us over there. I got to say, Demi Moore's cable knit sweater looks so cozy. Oh, good. So good. Nick, if you're thinking about my Christmas present. I know. I'll have what Demi's having. For our first story, the NFL season kicks off tonight. Off the field, the themes are private equity, Fridays, and Brazil. With five games played overseas this year, the NFL is the most international of all the sports leagues.

For our second story, enjoying record high sales, Jay Crewe is relaunching their catalog for the fall fashion season. Yeah, you got $3 billion in the bank. It's the brand archaeology. If your brand has beloved artifacts, dig them up. And our third and final story is Safe Super Intelligence. It's a new startup led by an ex-open AI exec. And it's already worth $5 billion. They're a tech unicorn because in the war for AI talent, there be dragons.

But Yeties, this pod's not over yet. Here's what else you need to know today. First, Chase Bank just responded to the viral TikTok craze related to the bank's ATMs. Here's the viral trend. Cash, a fake check at a chase. ETS and then immediately try to withdraw the funds before that check bounces. Now, Ticktokers said that was a glitch or a hack, but Chase points out that is fraud, plain and simple. It's not free money you're getting. No. It's stolen money. And if you do it, your balance is going to be reduced,

and you owe that money. Jamie is not going to be happy. And second, Volvo canceled their plans to sell only electric vehicles by 2030. They made that pledge in 2021. We covered it on this pot. They were going to do 100% electric by 2030, but a few things have changed in the three years since. Now, Volvo is aiming for about 90% of its cars to be fully electric or plug-in hybrid models. And finally, Ticketmaster has blown it again. This time with the Oasis Reunion Tour, which is happening next year. Fans who tried to simply buy tickets to the Oasis Tour were furious. They got delays, outages, price spikes. It was just like the Taylor Swiftiasco. They even blocked some humans from buying.

thinking that those humans were bots, which they weren't. Yetis, remember our idea to solve this. Taylor Swift should back a Ticketmaster Challenger, and they should name that challenger, Swift Ticks. Swift Ticks, it's time to launch the company. Now, time for the best fact yet. This one whipped up by Jack and me, because it just happens to be National Toppingless Pizza Day.

Also known as National Cheese Pizza Day. But we like the reverse of it. Yetis, today's day is when people celebrate pizza without the pepperoni. But it might be an opportunity to shed some light on the toppings that other countries put on their pizza. To all those who celebrate in Costa Rica, they put coconut on their pizza. In the Netherlands, they have a double Dutch pizza, which is double the meat, double the cheese, and double the onions. Over in France, they do flambay. It is bacon, onion, and fresh cream that is totally possible. And in Russia, they throw the whole black sea at this thing.

They top it with Machba, which is a combination of sardines, tuna, mackerel, salmon, and onions. And then they toss on some red herring just in case it wasn't seafoody enough for you. Jack, I'm a seafood kind of guy, but I don't think that's a first-day kind of pizza, if you know what I mean? In Soviet Russia, pizza eat you. Yeties, you look fantastic today. But you'd look even more fantastic if we get to see it in person on Thursday, September. 26 in lovely Seattle. Our special guest isn't Macklemore,

but it's someone from Seattle, and they're fantastic. Ken Griffith Jr., if you'd like to be in attendance, we'd love to have you. Gary Payton is the understud, by the way. It's our T-Boy Hotline live show and tickets are available starting today. You got the link in the episode description.

We hope to see you there. Jack and I would love to see you there. And before we go, a happy four-year Teslaversary to our buddy LaSalle Vaughn, who's at a model Y car for four years. as of today. He had one of the first models that rolled off

the assembly line, and it was black on black. It looked fantastic. And a happy birthday to Izzy, Isabella, Claire Baker, and Skinny Atlee's New York. Izzy is his stunning, strong, sophisticated student of science and saxophone and stocks. We ran out of S words, Izzy.

Happy birthday, Izzy. And Cody Belland is celebrating a birthday over in the Berkshires of Massachusetts, which are kind of far, but just outside Boston. It's like a four-hour drive from Boston. And enjoying the first day as a tax law professor. And to anyone else who's celebrating something today, make it a T-boy.

Celebrate the Wins. This is Jack, Island Stock of Abercrombie and Fitch, Amazon, and Netflix. And fun fact, Nick only wears J-Crew boxers. Still to this day. Are you going to fact-checked to Nick, or is that still true? I'm not kidding. I'm literally wearing. Pelicans

Nick we've been roommates multiple times and multiple apartments I know your boxer brand No shame 10 years running man Actually 20 years running Buy 100 pairs Get a thousand pairs free apparently Yeah