The Best One Yet - 📒 “Don’t Open My Notes” — Apple Notes’ trust strategy. ExxonMobil’s climate shocker. Curse of the Michelin Star.

Episode Date: November 13, 2024

Apple’s Notes is used by ~700 million people (it's Chappell Roan’s favorite app)… so we found its secret.ExxonMobil asked Trump to stay in the Paris Climate Agreement… because voters like change, but investors like consistency.The Michelin Star is the greatest award in the restaurant industry… but it’s also a curse.Plus, if an engagement breaks up, who gets the ring?... The Massachusetts Supreme Court just decided.$AAPL $XOM $MGDDYPlease fill out our 2-min survey on our new show, The Best One Yet: https://forms.gle/xrTV4A9XEipVUYoT7—-----------------------------------------------------Subscribe to our new (2nd) show… The Best Idea Yet: Wondery.fm/TheBestIdeaYetLinksEpisodes drop weekly. It’s The Best Idea Yet.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/ #stocks #finance #business #news Hosted on Acast. See acast.com/privacy for more information.

I, David Solomon, Lord of liquidity, now night you, white night of net worth. This is Nick. This is Jack. It's Wednesday, so each a Wednesday, November 13th. 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. Yeti's quick question for you.

Do you have two minutes for a quick little survey? We just posted a survey about our new show, the best idea yet. So it would be great to hear from you about what you think, about the new show. show. We left a survey in today's episode description. So whether you've listened to our show yet, or you haven't, we'd love two minutes of your time. Oh, by the way, Jack, the best idea yet, it just hit number two in business podcasts. It's in the top 50 podcasts in the world right now. It's huge. But we want to know what you think of it. So click the link in the episode description to fill out our short survey. In the meantime, we've got three fantastic stories for today's T-boy, Jack,

what's on the show? For our first story, it's Apple Notes. Apple Notes. Apple Notes. Apple is the biggest app that nobody's talking about. Apple Notes is 10 times bigger than the competition and it's Chaparone's favorite app. So we found the secret strategy to Apple's Notes. Apple's secret size. For our second story, ExxonMobil CEO just made a shocking move. Get this.

He told President-elect Trump to stay in the Paris Climate Agreement. Because voters want change, but investors want consistency. And our third and final story is the Michelin Star. It's the greatest award in restaurants, but it's a double-edged star. Because the Michelin Star now has a business curse, and we will explain why. But Yeties, before we hit that wonderful mix of stories. Fantastic mix of stories. Nobody else is doing this mix, Jack.

Love the mix. Yeties, Nick and I address a lot of financial questions on this show. Jack and I, we address a lot of challenging financial questions on this show. But the most challenging of all time may be this. Who keeps the engagement ring? you call off the wedding and break up. With this ring, I the don't wed. If a fiance and a fiance break it off, who gets the engagement ring? Jack, if a fiance and a fiancee call it off, then who gets to keep the bling? It sounds like a Shakespearean tragedy, but it's actually a legal

question. Get this. In the state of Massachusetts, the great Supreme Court just ruled on that very engagement question. But first, some context. The case presented to the Massachusetts Supreme court involved a very valuable engagement ring. Yeah, it involved a $70,000 Tiffany's engagement ring. So he popped the question at a resort on Cape Cod. It was beautiful. But later, he soured on the relationship, so he called off the wedding. And now he wants the ring back, so she brought him to court, baby. So what did the court decide on who gets the ring? Jack, does it stay on the finger on which that ring was putteth? Or is the buyer entitled to the bling that he bought? Well, we just got the answer. And Jack, the answer is, all rise.

The buyer, the buyer. He gets to get the ring back. Wild twist. Here was the judge's explanation. It's the universal understanding that engagement rings are gifts inherently conditioned on a subsequent marriage. So besties, add it all up,

and who gets to keep the ring if the engagement gets called off? In Massachusetts, it's the proposer, not the proposie. What Jack's saying is that it's the person who bought it, not the person who bore it. If the wedding doesn't happen, The ring comes back.

No, apparently getting down on one knee in Massachusetts, not legally binding, Jack. Let us know if you agree in the comments because I feel like there's some juicy opinions at there. The Yetis, they got some thoughts, Jack. Let's add our three stories. Fifteen 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. T-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.

For a moment this week, a software glitch made your Apple Notes disappear. That headline was a wake-up call on how one of the most successful apps of all time is actually Notes. Apple Notes. Now, yet he's Jack and Nick here, a little bit of real talk. You know, you can speak to your mother. You can speak to your best friend. You can share your secrets with a therapist. Or you can confide in your Apple Notes, which we know you're doing. According to the Wall Street Journal, they recently called Apple Notes an extension of our brains. We've all been trained to like revere data. Well, that's why I put all my thoughts in my notes app.

So I don't forget, like the ideas I have. We haven't seen your Notes app, but we know it's in your notes app, don't we, Jack? Baby Note brainstorms. To-do lists. Startup ideas. My personal favorite? Personal details on the people I recently met in my co-working space so that I remember them the next time they say hi to me.

I've got every waiter and waitress in San Francisco restaurants, Jack, in my notes app right now. Do you? Wow. We're really cut from the same cloth. Lorraine at Spruce. She's the best. But by the way, I've caught Jack's notes app besties and you know what's in there? What did you see?

Okay. I saw flannel shirt recommendations, a list of coffee shops in Berlin. and a whole bunch of love is blind predictions. True. Those are all in there. They all go in my little yellow notes app. It's like a Post-it note designed by Silicon Valley. It is a digital diary that Ernest Hemingway would be jealous of.

And it's interesting because in public, we filter things before we say them. Jack and I have talked about this phenomenon. LinkedIn is for your professional posts. Instagram is for your personal posts. And Reddit, it's where you rampage. A little bit of rampage on Reddit. But with the Notes app, there are no limits. It's like the notes app is the one app that can blend all of your interests.

Technically, the notes app is a productivity app, and it's embraced by celebrities and regulars alike. We repeat, this is a productivity app meant for work, and yet Taylor Swift is posting screenshots of her notes app on Instagram. But Nick, it's also an intimate space. Chapel Rhone recently said, never go through a girl's notes app. That's a red flag. That's a violation. Besties, if you go through your girlfriend's notes app, Chapel Rone will hunt you down.

write a song about you. Just want to point out, you confessed earlier in the story that you went through my notes app, Nick. Did it because I love you, Jack, did it because I love you. But Yeties, this week, Apple Notes was temporarily down and people were freaking out. So Jack and I jumped into the business of the Apple Note. First of all, there's a lot of competition. You got entire startups dedicating to doing it better than Apple Notes. In fact, GoodNote, Notion, Google Keep, those are all note-taking apps that have way more powerful features than Apple has put into their notes. Over the years, Apple's added more features, like shared notes for grocery lists with your spouse, document scanning when you need to email someone a document, and checklists that you can check as you go.

But Apple Notes still trails the competition when it comes to features. And yet, Apple Notes is winning anyway. Good note and Notion. They've been downloaded 50 million times since 2021. But Jackie, sprinkle on more context to Apple Notes numbers. Apple Notes is pre-installed on 2.2 billion Apple devices, and it's used by an estimated 700 million people regularly. We repeat, even though every one of your buddies in San Francisco is using Notion, there are probably 20 to 30 times more people using Apple Notes right this instant. Now, Apple has the power of the platform. It does.

The only iPhone. They decide what gets pre-installed, and they give away notes for free. Yeah, so the notes, they got a little bit of an advantage. But it's not just that. No, it's not. This is a productivity app with a cult following that's beloved by celebrities, and that goes viral on TikTok and that any canceled celebrity apologizes on with a screenshot. And the reason for that success is because of Apple Notes' simplicity, its usability, and our takeaway.

So, Chaple, I mean, Jack, what's the takeaway for our buddies over in Apple Notes? We've heard of lost leaders. This is a trust leader. Yet he's a lost leader in business is a product that a company loses money on, but it brings in new customers. it's worth it. A trust leader is also a product that doesn't bring in money, but it brings in trust so it's worth it. So interesting detail here, according to the Wall Street Journal, a top reason power users prefer Apple notes to any other productivity app. It's safety, security, and trust. Apple products, they're not going to be hacked. There's encryption everywhere in iOS. And Apple, they're not using your content to train AI like a bunch of other social apps are these days.

Those are the reasons that you put your most intimate thoughts in the simplest app. That is why Jack is putting love is blind predictions in the Apple Notes app. And that trust in that one simple app, it drives a deeper connection to Apple's brand. So besties, what's Apple's secret sauce strategy with their incredibly powerful Apple Notes app? It's not a loss leader. It's a trust leader. For our second story, in a shocking twist, Exxon Mobil just urged Donald Trump to stay in the world's biggest climate agreement. Why does this oil company want the world to reduce its oil consumption? Very strange. We explain tonight at 7 p.m.

No, yet he's ExxonMobil. You've been there, you pumped up. 500 billion dollar oil giant. But what's the context, Jack? ExxonMobil and Donald Trump have a complicated past. Yeah, as Tinks, the influencer would say, they don't have a relationship. ExxonMobil and Trump, they got a situation ship. Because on the one hand, Trump's first ever Secretary of State was an Exxon guy. It was former Exxon CEO Rex Tillerson. He was Trump's secretary of state. But after just about one year, Trump fired him.

Later, Tillerson spoke negatively about Trump on television, so Trump and ExxonMobil, yeah, it's complicated now. It's a situation ship. But get this, Yeties. Here's the news. The current CEO of Exxon Mobile has a bizarre request to the president-elect. That's right. The new CEO of Exxon just told the president,

to not exit the Paris Climate Agreement. Yeties, the 29th Global Climate Conference, known as COP29, it's happening right now in Azerbaijan. And yet, the first big headline was an oil CEO asking an oil president to do less oil? Now, to understand this story, Nick and I have to bring you back to 2015. Jack, let's go back. What do we go? That's when the entire world agreed to a plan to limit greenhouse gases and stop climate change.

The United States was the architect of that plan. But Trump called it a bad deal, so we exited it back in 2017. That was the Paris Climate Accord. That's what it was. Four years after Trump exited, though, President Biden came back into power and re-entered that agreement. But not to switch up on you again yet, he's, but now that Trump is coming back to the White House, it appears the agreement is going to be doomed again. Because Trump continues to call climate change a hoax. He ran on an energy platform of drill baby drill.

So a Paris UN agreement on reducing carbon and fossil fuels doesn't sound like Trump's kind of thing. Doesn't sound like his cup of tea, Jack. So now the global plan to save the planet hangs in the balance of Trump's first big energy decision. In fact, this is the biggest drama at the biggest climate event of the year, and it's happening right now. Now, the deal wouldn't be completely dead without the United States, but China could be the leader of it if we're out of it. Oh, and Jack, buy-in from the rest of the world would be badly hurt if the richest country in the world isn't actually in the accords. So that's the context yetties. But again, back to the question.

Why is this oil executive telling an oil-loving president to support a huge climate pledge? There was so much irony in that sentence, Jack just said, we could light it on fire. So, Jack, what's the takeaway for our buddies over at ExxonMobil? Voters want change, but investors want concerns. Consistency. Yeties, voters vote for change. The last 10 elections in the row, if you count the med terms too, the party in power changed over. But investors prefer consistency.

Yes, they do. Surprises, adjustments, pivots to the plan, those all cost a lot of money. And that is why ExxonMobil wants to stay, shockingly, in the Paris Climate Agreement, even though that agreement means less oil in the future. Because in 2015, we were in 2017, we were out. In 2021, we're in again, and now in 2025 we're out. These are expensive flip-flops and policy that ExxonMobil doesn't want to deal with. It's expensive. And ExxonMobil, they got five to 10-year business plans.

If the world is moving to a lower carbon future, then ExxonMobil needs to commit to that. Not because they're environmentalists, to be clear. It's because ExxonMobil is capitalist. And that is why Big Oil is telling Trump to stay, shockingly, in the Paris Climate Accords. It's proof that voters want change, but investors want consistency. Now a quick word from our sponsor. For our third and final story, the Michelin Star, it is the greatest award a restaurant can receive, but the attention is doom. Here's the curious case of why Michelin Star restaurants go out of business and what we can all learn from it.

But honestly, Jack, I think one of the proudest moments of my life is that I got to take you to your first first. Michelin-starred meal, didn't I, man. The spruce, right? Or is it just spruce? It's just spruce, but I kind of like it, he said, the spruce. I felt so out of place, I ordered the burger. The one thing in the menu I recognized. I got, like, the Hokkaido scallops imported from Japan in a tartar.

And Jack was getting medium rare on the burger. They gave me a bite, though. He set me up with a perfect bite that included all the little succulents on there. I like that you said succulence, too. But yet he's the Michelin Star. It is the most coveted restaurant award in this. The world. Only 143 restaurants in the world have three Michelin stars. And at those restaurants, the average price per person is $357. Ah, the three-star Michelin restaurant. You're going to get a 12-course

meal with a moose-bush caviar-infused foam ecotramalt. Always foam. They're just like throwing foam around. But we should point out, Jack, that not all Michelin-Star restaurants are necessarily expensive. True. For instance, last year, a taco stand in Mexico. City won a Michelin Star. They're selling tacos for like three peso. But no matter how much you're charging at a Michelin Star restaurant, a Michelin Star is great for your business. You get a surge in publicity. You get a bunch of reservations. New deep-pocketed customers are lining up to come to your restaurant. And even Jack is stopping by to order the hamburger. But that leads to the wild news. What do we got, Jack? That Michelin rating, it's actually a double-edged star. That's right. A

Michelin Star can backfire. A researcher at University College of London looked at high-rated restaurants in New York City that went on to get a Michelin Star. Now Jack and I jumped in T-boy style to this study, and Jack, what exactly did the data show? Those restaurants that got the Michelin Star, they were more likely to go out of business than other high-rated restaurants that did not get a Michelin Star. This was shocking news because we just said that the Michelin Star was good in the short term, but the data shows a Michelin Star is not good in the long term. The data shows that a Michelin Star can put you out of business in a few years. Now, here's where things get fascinating.

One key reason why a Michelin Star can be bad for your business is the landlords and the vendors, they're looking at you differently, man. Once you get a Michelin Star, landlords and vendors want a piece of that money. Okay, a great example of this is Feta Sao, this restaurant in Brooklyn, the Jack and I went to like 20 years ago where we were like living in the East Village. It's a German-themed barbecue in Williamsburg, Brooklyn. I went there at least a half dozen times. Oh, we went there so many times, including for my birthday.

But in the 10 years since they first got a major review from the New York Times, their rent has quadrupled. Because the landlord saw people lining up outside, they saw the New York Times review, and they figured they can charge this restaurant more. And it's not just the landlords. The suppliers will charge more when you get a Michelin Star. Hey, you need Michelin Star broccoli.

It's expensive. And the contractors will charge more once again. get a Michelin Star. You're a Michelin Star restaurant. You can afford my bills. Oh, and the alcohol vendor, they're going to charge you more too for that top shelf shambord. Top shelf everything. Only the best for you, you're Michelin Star Restaurant. Yeties, when you get a Michelin Star as a restaurant, nothing is ever the same again, particularly the costs. And that's a shame. But it also is a lesson for all of us. So Jack, what's the takeaway for our buddies who are everybody? When you find success, remember what got you there.

Yeties, I got way too many people here right now that I didn't know last year, who the heck are y'all? Drake nailed it. The point is that success brings new challenges that you wish you never had to deal with. Besties, in our lives, we will all have an experience with great successes. We'll get promotions, we'll get awards, we'll get fundraisers. Maybe you'll get your face on the cover of Forbes magazine someday. But Jack, what's the best way to handle all of those incredible life successes?

change the things that got you there. Besties milestones, they are opportunities to take advantage of and to open up new doors. But milestones are not moments to change the core of what got you there. So take it from a Michelin-Star restaurant. Most of them wish the things could be back the way they were before they got that star. The double-edged Michelin Star. It's a reminder that when you find success, remember what got you there. Jack, could you whip up the takeaways for us for Saviche Wednesday? Apple Notes is the most successful app ever. That's never made. a dollar. For Apple, Apple notes isn't a lost leader. It's a trust leader. It's a trust turtle. For our second story, it's ExxonMobil. They like the Paris Climate Agreement to stop climate

change. So they asked Donald Trump to stay in it. Because voters like change, but investors like consistency. And our third and final story. According to the data, a Michelin Star ends up increasing your rent and your supplies. It could even put you out of business. It's the Michelin Star curse. So Yeties, when you find success, just do your best. to remember what got you there. But yeties, this pod's not over yet. Here's what else you need to know today. First, we've got President-elect Trump's latest cabinet updates that can affect the economy, too.

He has selected Marco Rubio to be his secretary of state, which is the nation's top diplomat. Rubio, whose parents were born in Cuba, would be the first Latino secretary of state. And along with Rick Scott, who's set to take over the U.S. Senate, Florida is apparently taking over Washington, D.C. And second, Hot Ones, the YouTube show, the epic YouTube show, just launched their first ever food. It is a Hot Ones spicy ramen. Hot Ones is the show where celebrity guests eat hot wings while being interviewed. They often cry, it's often uncomfortable. It's increasingly hotter and hotter as they continue on with the interview.

Hot Ones is owned by BuzzFeed, and they already sell sauces. Now they sell a whole meal. And finally, Amazon is reportedly about to build their very own smart glasses, but with one interesting twist. Like Apple and meta, Amazon wants in on the ARVR Smart Glasses game. But here's what Amazon's doing. The Amazon glasses would be for delivery drivers, like lenses to show where to find a package in a van and like where in the building to drop off that package. They'll give you like directions on the lens, which is helpful when you're carrying a whole bunch of packages in your arms. Not that Amazon likes more than shaving off a second here and shaving off a second there because that is hours of saved money.

Those seconds add up. Now time for the best fact yet. This one sent in by all our bearded besties. In honor of no shave November. Which is also known as Movember. Yeah, it is your buddies may be growing out their beards or moustaches this month until the end of the month. But get this. On average, a person with a mustache touches that said mustache 760 times a day.

I've never had a mustache. Actually, I've had one for like three days. Yeah. And then I was ordered to get rid of it. But yeah, I touched it a lot too. Well, it sounds like it touched it 2,158 times, Jack. To all who celebrate no shave November, it's a great cause. We're rooting for you.

Our buddy Timmy, he's already touched it 538 times today. Yeties, you'll look fantastic for Covee Wednesday. And if you got two minutes today, we would love if you fill out the survey we got in our episode description. We got a link right there. Click it. Fill it out. Nick and I are grateful. We'd love to know what you think of our latest show, the best idea yet.

And if you haven't listened yet, we still want you to fill out the survey and tell us why. And then put it in your Apple Notes app and you'll definitely fill out that survey. You're complicating our CTA name. I know who you think's going to win love is blind, Jack. Let's just say your secret safe with me. I'll leave it. Yeah, I got to cut Nick off here. We'll see you tomorrow.

Unless you're taking me to a Michelin Star Restaurant. I had to do it. You're welcome. And before we go, congratulations to Yeti's Bradley Carri-on and Maya Anderman, who just got engaged hiking over in Switzerland, Jack. Long distance for two years, together for over six years, and it all paid off. Jack, I actually think I ran into them at a restaurant, Pearl 6101, in San Francisco, before any of this happened.

So, so happy for these guys. And a big shout out to my buddy Shane, who's slightly better looking than me, who sent the Saracha episode of the best idea yet to all his friends because he's my hottest friend. Besties, if you follow us on Instagram, you know what we're talking about. Send it to your hottest friend. And congratulations to at Stacey 12Q on YouTube, who's rolling in Bitcoin games. 36,000 of them, according to their YouTube comment. Now, again, we should point out, we've been Bitcoin burned before.

Third-degree burns. Third-degree burns. So, besties, be careful out there. And Jack and I will see you tomorrow. This is Jack. I own stock of Amazon and Reddit. Nick and I both own stock of Apple, and we both own one Bitcoin whose name is Ben.