The Best One Yet - 👖 “Daddy Denim Dollars” — Baggy Jeans’ economic impact. Adam Neumann’s WeWork Sequel. Apple’s glasses freakout.

Episode Date: October 4, 2024

Baggy Jeans are boosting the economy… Because $100 on jeans drives a $700 makeover.Adam Neumann just launched a WeWork competitor… “WorkFlow” is Adam v2.0.Apple is freaking out about Meta’s new glasses… here’s their 5 options for saving the iPhone.Plus, Taco Bell is officially the fastest drive-thru in America… but it’s also the most inaccurate.$LEVI $GPS $AAPL $YUM—-----------------------------------------------------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 Friday the real Friday, October 4th. And today's pod is the best one yet. This is a T-boy. The top three pop business news stories you need to know today. Yeties, next week, Jack and I are going to lovely Los Angeles to launch something huge. Our biggest launch in six years. Nick, our biggest launch since we launched this podcast. A, B, L-E, Jack, what does it stand for? Always be launching. everything. And have we got something that we're launching next week? I am so excited for next week. Oh, I'm so excited to see you, Jack. It's going to be great. In the meantime yet, he's Jack and I whipped up a fantastic show for you. Jack, three stories on the pod. What do we got, man? For our first story, last week, meta unveiled their AI glasses. This week, Apple is freaking out. Apple is freaking out, man, and we got our hands on Apple's five solutions. For our second story, the top trending gene right now is baggage. These jeans are so wide, they're actually boosting the economy.

Because every $100 pair of baggy jeans you buy leads to a $700 shop and spree. And our third and final story is Adam Newman. Adam Newman is launching another WeWork. Seriously, he's launching a WeWork competitor. Newman. WeWork the sequel, maybe as entertaining as WeWork the original. But Yeties, before we hit that wonderful mix of stories. Jamie, what a show today, Jack.

Love the show. this launch. Huge congratulations to our buddies over at Taco Bell. Taco Bell, congratulations. Fourth year in a row, Taco Bell is the fastest drive-thru in America. According to a study in QSR magazine, Taco Bell delivers drive-thru orders in four minutes and 15 seconds. Four minutes and 15 seconds per order that beats Burger King and it smashes the shake shack. Well, it does help when every item on the menu has the same ingredients like at Taco Bell. Just do more cheese on that one and less cheese on that one, Derek. At Taco Bell, you are in and out faster than in and out. Literally.

But hold on a second. Before we crown Taco Bell the fastest fast food, there is a catch you should know about. Yes, there is one asterisk, and what is that, Jack? While Taco Bell is the most fast drive-thru of all, it's also the least accurate drive-thru of all. That's right, because Taco Bell gets you the order quickest, but with the most mistakes. Get this. 15% of Taco Bell's drive-thru orders come out wrong. Jack, could you sprinkle on some context like a lot?

It's solved for us, please. That's twice as bad as Wendy's and three times worse than Chick-fil-A. Taco Bell, it is the Dom Torito of the drive-thru. It's fast, but you better put your seatbelt on. You better buckle up. Taco Bell, they'll get you the Doritos Locos tacos in a record four minutes and 15 seconds. But they'll forget to put the Doritos on those Locos tacos. Hey, Taco Bell, when they said move fast and break things, they weren't talking about the taco show.

Taco Bell is going so fast, the customers are furious. Jack? Let's hit our three stories I said cheese on the side Extra mild sauce please My own 15 years before this song Two boys from the Northeast

Met in the dorm They had an idea That 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. For our first story, last week, Zuck unveiled Meta's AI glasses. And that is the scariest thing to hit Apple in a decade. But we got our hands on the five internal options Apple is considering to fight back. And we'll tell you, Apple's five secret options. Jack, I am looking outside this fall weather right now, perfect season for some big tech product events, don't you think? Yep. In the past month, we've gotten the biggest product events of the year from both Apple and meta. Yeah, it's better than Apple picking. For the first time ever, meta outshined Apple. We told you about it last week.

Across the board, meta outshined Apple in price, in style, and in prowess of their latest tech products. In price, the new meta VR headset is 80% as good as Apple's Apple Vision Pro, but at one-tenth the price. In style, the meta-ray-band smart classes, they look sharp. the Apple Vision Pro looks ugly. And in prowess, Meta's Orion prototype glasses does it all with glasses, not some big, heavy helmet

that makes you look like a motorcyclist football player. Meanwhile, Apple showed us the iPhone 16 that has a new button. But there is one reporter who we follow that knows Apple better than anyone in the Tim Cook universe. Mark German from Bloomberg is outrageously well-sourced

when it comes to what's happening inside of Apple. I mean, Jack, you must have have a bug in the CEO suite. And according to Mark's reporting, Apple is freaking out right now. That's how we got the five options that Apple's executives are weighing for what to do with the Apple Vision Pro. The five ways Apple is desperately going to try to stop Mark Zuckerberg. And here are the five options. Option number one is basically continue the status quo. Yeah. Keep going with Apple Vision Pro by creating a high-end version and a low-end version just like the iPhone. They hope like the iPhone, different price points will help sell the Apple Vision Pro better.

Option two, remove the computer from the headset and connect the headset to your phone that's in your pocket instead. That would make the Apple Vision Pro lighter have a longer battery, but it would still depend on the iPhone in your pocket. Here's option number three for Apple's like headset strategy. Smart glasses. Smart glasses. Simple.

Basically copy what Zuck has done with the meta-ray band. sunglasses. Maybe Apple acquires Warby Parker and launches their own line of glasses, right, Jack? Yeah, because after all, the Rayban glasses, that should have been an Apple collab, not a meta-collab. Now, the fourth option for Apple, we think, is kind of the coolest, don't we, man? Airpods on steroids. AirPods on steroids. Apple could add cameras to each of the two AirPods so that they see the world while you're wearing them, and so that you don't even need a screen. If the AirPods can see what you're doing, then they could be like your in-ear, A.mereens. Apple could be like your in-ear, eye sidekicks on your right and left ears, keeping your face and eyes free.

And finally, option five is the Holy Grail. Build what Zuck has built with those Orion holographic classes. Yeah, fifth is kind of the most straightforward, but also the hardest. Replace the iPhone with Apple glasses that you can comfortably wear on your face the entire day. This is the obvious best choice. Yes, yes, isn't it? But Apple has tried and had to quit several times with like an iPhone built onto your face because it's just too tough a technological challenge.

Sixth option here, build that Apple car that you kept telling us about, and we'll just live and drive in that thing. The scariest part for Apple, option five, the Holy Grail, Zuck seems to be figuring it out. So Apple has got to figure it out, too, and those are the five options. Jack, what's the takeaway for our buddies? Freaking out. Over at Apple.

Will the thing that replaces the iPhone be an Apple product or not? Yeties, stakes are important, And the stakes of this headset glasses race between meta and Apple are enormous. The iPhone, it's half of Apple's revenues, and it also drives all of Apple's other revenues. Like you wouldn't buy stuff from the App Store, you wouldn't buy AirPods unless you also own an iPhone first. And that's why this is a big deal. Because last week, we predicted that Zucks Orion glasses could replace the iPhone. And if Zucks glasses do replace the iPhone, then your computer and your other smart devices could follow.

So Apple isn't just defending the most profitable product of all time, the iPhone. Apple must also go on the offense to create the product that replaces the iPhone before meta does. That's why Apple is freaking out right now, because will the thing that replaces the iPhone be an Apple product or not? That's the big tech question for the next five years. For our second story, baggy jeans have gotten so popular they are driving an economic boost. Because the baggy daddy, it's not a one-off item.

They require an entire wardrobe makeover. All right, Jack, can I hit you with some wordplay? You ready for this man? Yeah. A wide boyfriend, loose, slouchy, oversized, relaxed. Did you say slouchy? I did say slouchy. I'm not comfortable with any of these jeans, Jack.

That's a judgmental gene fit. It feels like a gene fit that's judging you. Because whatever adjective you are wearing right now, the trendiest jeans are the baggie. Baggy Daddy denim. Yeah, it is. If you're not in, you're out. The Baggy Daddy gene, a specific cut inspired by the jeans that your dad wore on a lawnmower. In May, Abercrombie and Fitch said the Baggy Daddy was its top-selling type of denim, causing the stock to jump. In their earnings on Wednesday, Levi said the word baggy, six different times, Jack. Because sales of baggy jeans rose 15% compared to last year, which is three times faster than their overall sales growth.

Oh, what else did they say over at Levi Jack? For men and women, Baggy has really taken hold. We're talking about a gene that looks like it was designed at Home Depot. Again, if you're not in, you're out. I'm out and I'm okay with it. I'm out and I'm okay with it. You don't wear jeans ever. I'm already getting the chills listening to this story. But here is what Jack and I found fascinating about this story, Yeties. For every $100 spent on a new pair of baggy jeans, you spend $700 on other stuff. Because in fashion terms, baggy jeans are a different silhouette than skinny jeans or tight cut fit jeans are. Different silhouette. They are so different in fact that they require their own set of clothing to pair with them. Let's look at the data. At the gap,

customers who buy baggy jeans have bigger baskets than customers who buy skinny jeans. You just bought a $100 wide leg levy pant, but then you bought a new shirt and new shoes and a new bra and a new necklace. You've got to get the whole wardrobe together, Jack. Yeah, according to a Barclays analyst, wide jeans are even driving footwear trends. Like, that's how different baggy jeans are. You need to change everything else you're wearing. I mean, Jack, I would not buy these baggy daddy jeans,

but if I did, I would probably get some Vince Camuto boots to pair with them, maybe. Because baggy jeans are driving entire wardrobe makeovers. It's a lifestyle. And now baggy jeans are having a macroeconomic impact. If Congress really wants to stimulate the economy, just mandate that we all wear baggy jeans. Yay or day on the Baggy Daddy ad? Yay. So, Jack, what's the takeaway for our buddies over in the fashion industry?

Baggy jeans are the perfect example of a basket booster. A basket booster. Yet these most products are single-purchased products. You buy one and then you're done. If you buy a couch, an ice maker, or a bottle of Advil at the drugstore, you don't have to anything else. It's a one and done. But baggy jeans don't stop there. Baggy jeans drive a second, a third, a fourth additional purchase to pair with those jeans. And if a retailer can capture that entire basket of additional purchases, that is power. And we've seen this with other things like

with skis, right, Jack? Like, you just bought skis. If you buy a new, like, jacket for skiing, you probably have to buy new pants. You might have to buy new ski boots too. And new goggles. Or rugs. When you buy a new carpet, you're probably got to get new chairs, new lighting, and new drapery to match on. It's rare, but they're spectacular. Baggy Daddy jeans are a basket booster product. Now a quick word from our sponsor. For our third and final story before the weekend. Adam Newman is back, baby, with a new venture that is a direct competitor to WeWork.

It's a WeWork dupe. It's a WeWork dup. We basically have a sequel to WeWork. Yeah, we do. And will it be a disaster or will it be a good deal? Is WeWork 2 more like God? Godfather, too, or Jaws too. That's what we're getting at. Good framing.

Sorry, Spielberg. But Yeties, there is one important financial measure by which Adam Newman is the biggest failure in startup history. Adam Newman took $10 billion of investor money, mostly from SoftBank, and he lost all of it. It is not easy to lose $10 billion, Jack. How to lose a guy in $10 billion. Jack, could you sprinkle on some context to Adam Newman's $10 billion loss? Adam Newman lost more than 10 times as much money as Elizabeth Holmes did with Theranos. Sit down, stand up, and keep your hands on your wallets.

But yet he's, Adam Newman, was never charged with fraud. And so Adam Newman is now busier than ever. And one venture capital firm, Andresen Horowitz, loves what they saw in his failure. Now, yeties, we should point out that back in 2022, Jack and I published an episode of this pod called the Second Coming of Adam, about his new post-Wework ventures. It was called Flow. It was basically a glorified real estate company building all-inclusive apartments. Adam's first startup after WeWork was not for work, it was for living. Or as Adam calls it, it was for a connection with ourselves, our neighbors, and the natural world.

But here's the news. Adam Newman just launched a direct competitor to WeWork, a sequel to WeWork. Adam Newman just launched Workflow. It's going to exist in competition to his old company, WeWork. And Andreson Horwitz is babysitting it. I mean, financing it. According to Bloomberg, this new venture, workflow, is a more adult version of Adam's former co-working brainchild, WeWork. Yeah, it's like WeWork, but all grown up wearing khakis in a suit. By adult version, do they mean that the CEO is going to wear shoes and socks when he comes

to work? They didn't mention that, Jack, but it does mean that this new WeWork knockoff is going to be a sensible, convenient space for adults to do adult work. There isn't going to be free beer at Workflow. There's going to be no neon size that say, thank God it's Monday. No, no, no. And if you want kombucha, it's B.Y.O. kombucha. Yeah, it's not for 20-somethings.

This new thing is for 40-somethings. Not party vibes. Parent vibes. Yeah, there aren't going to be hookups in the water canteen. There's going to be Tupperware. What kind of we work were you going to, Jack? But it is not just the design of Adam's new venture that's different. It's also the financials.

Workflow is not going to lease expensive office space from big city landlords. like WeWork did. Yeah, and that was part of WeWorks downfall. Instead, Adam is going to open these new co-working spaces within the apartment buildings of Flo, his real estate venture. So basically, you'll pay $3,500 a month for one of Adam's apartments, and then $500 a month more for a desk in the workspace. It's all in the same building.

And no hookups. So, Jack, what's the takeaway for our buddies over at Workflow? Adam 1.0 was a disaster. Andresen thinks Adam 2.0 is a deal. And now, yeah, and he's to be honest, Jack and I kind of like the version of Adam that Jared Letto played in the WeCrash series, because that just seemed fun. Like, that was a good old time. He was so passionate. He seemed to be full of love and fire.

It was fictional, though. Now, the biggest loser of Adam's WeWork crash was SoftBank. Massa, foolishly invested $10 billion and lost all of it. But who was the biggest winner of WeWorks crash? It might actually be the venture capital firm. Andresen Horwitz. Yeah, Andresen, because they didn't invest in Adam 1.0, but they are investing in Adam 2.0. Andresen thinks that they're getting a great deal. They think they're investing in Adam Newman with all the learnings from his WeWork crash, but with none of the financial baggage. They think they're

getting an adult version of Adam Newman, which could arguably be a good venture. We should point out to Andreessen, there's plenty of other charismatic entrepreneurs who haven't burned $10 billion of investor money. You can have your pick and litter. There's a whole bunch of people out there. We'll love your money. Haven't lost $10 billion. They haven't failed a bunch of companies either. And yet Adam 1.0 was a disaster.

But Andresen thinks Adam 2.0 is a deal. Jack, could you whip up the takeaways for us for the Real Friday? After Zuck's impressive glasses event, Apple is weighing five options for their vision future. Something's going to replace the iPhone. The question is, will it be an Apple product? For our second story, it's baggy jeans. They aren't just a trend. They're causing ripple effects throughout fashion.

Baggy jeans are a rare basket booster. Their purchase requires a whole bunch of additional purchases. And our third and final story is Adam Newman. He has now launched three companies since WeWorks' debacle of a failed IPO. And they're all backed by Andreson Horwitz. Adam 1.0 was a disaster. They think Adam 2.0 is a deal. But yeties, this pod's not over yet.

Here's what else you need to know today. First, happy jobs day. September's jobs report comes out this morning. It's the second to last jobs report before the election. Expectations are that our economy will have grown by 140,000 jobs in the month of September. And that the unemployment rate will remain at a historically low 4.2 percent, but we're waiting for it to come out. And second, Costco is selling $200 million of gold bars every month, so they want to sell other metals, too. Get this. Now Costco is selling platinum bars on top of gold bars for $1,089 each over at Costco. So if you're trying to buy a one-ounce bar of platinum, head over to Isle 6, where apparently

they're holding the precious metals. If you hit the Cheez-It's, you went too far. And finally, QVC, the Shopping Network, will be the first official streamer of professional pickleball. That's right. QVC, the channel for shopping will add USA Pickleball to their programming. They have the exclusive rights. Apparently the top pickleball audience for watching is women over 50 and the top QVC customer is women over 50.

Hey, Andreessen, go invest in that. Now time for the best fact yet this one set in by Becky Haley from the great state of Utah. Earlier this week, Nick and I talked about a pivot happening at laundromats. Yeah, laundromats are adding bars, bakeries, and pinball machines in order to make money off of you while you wait for your clothes. And to give you something to do while you're waiting for that wash something. to finish. But interesting point by Becky, uh, that trend with laundromats actually began in Japan. That's right. Japanese laundromats have been double dipping for years. Some Japanese laundromats have arcades. Some have karaoke machines. Some have gyms. Some have hair removal services. That's right.

Over in Japan, you can pump some iron, sing some songs, and get a Brazilian wax all while you do your whites. That's so cute of you that you separate lights from colors. I feel guilty for the clothes, Jack. I feel guilty for the close. Yeties, you've looked fantastic all week. Jack, I cannot wait to see you in Los Angeles next week, and I cannot wait to launch this thing. It's going to be a monumental moment for this company and for this show. Yadies, if you've been enjoying T-Boy all week, we'd love if you could drop down and leave a rating and review. We love reading your reviews.

They're so much fun. If it's a particularly juicy review, we'll read it on the pie. In the meantime, Jack and I got to go prepare to launch this thing next week. So celebrate the wins this weekend. Nick and I, we'll see you Monday. Can't wait. And before we go, first, to all the Yetis down in the Southeast, particularly in North Carolina, we've been thinking about you after what's been an immensely hard week for you.

We can't even imagine. All of Appalachia, Nick and I are sending our thoughts that way. And to Yeti, Jasmine Joy, over in Fargo, North Dakota, congratulations on pursuing a brand new career in writing. It's the best. Happy business anniversary to Amy and Mike in Greenville, South Carolina. Two years of simplifying supply chain complexity down at Quad Space. And congratulations.

to Lizzie and Nick Centrella down in the brotherly love of Philadelphia. They just got married. They're looking fantastic. What a wedding. Congrats, guys. And congrats to Andrew and Trish, who are getting married to Madison, Wisconsin. Nick, these are her former next dorm neighbors. Oh, that's hilarious. Oh, that's fantastic. Congratulations, guys. Enjoy the win. Happy 40th birthday to Dana Goodman in Adina, Minnesota. And Alan Rosenfeld has turned 72 years old in Charleston, South Carolina, rolling into ETS. And happy sixth birthday. to Ellie Mitzler down in Franklin, Tennessee.

And Ali Aguirre is turning 40 years old, celebrating down in Atlanta, Georgia. Happy birthday to Karen Stokes in Atoka, Tennessee. And Jack, we got a double shout out. The twin brothers, Isaac and Zach, are turning 41, each up in lovely Spokane, Washington. Congratulations, congratulations, congratulations. Fraternal, identical, doesn't matter. We love you guys. And Gio Chang is turning 29 years old, also down in Atlanta.

Happy birthday, Gio. I just learned the difference between fraternal and identical because my brother Nick had twins. So excited for twins. Congratulations to Nick and Jack. One more shout out for the Yetis. Jorge Fettincourt down in North Miami Beach, Florida, has got the best birthday yet. This is Jack. I own stock of Levi's and Abercrombin Fitch. Nickel in stock and Shake, and we both own stock and Apple.