The Best One Yet - 🐊 “Florida Man issues Florida Ban” — FL bans social media for kids. Krispy Kreme signs with McDonald’s. Millennials need to retire.

Episode Date: March 27, 2024

Florida just banned social media for kids under 14 — Social Media has become the cigarette of the 21st century.Krispy Kreme stock surged 30% on word McDonald’s will sell their donuts in all 13 thousand US locations — Krispy is borrowing the same strategy as Target.And BlackRock’s Larry Fink just raised alarms about Americans and their retirement savings — Why do we invest in retirement? It lets you skip a tax payment.Plus, we’ve got a message for our Baltimore Besties.$DNUT $MCD $METASubscribe to the best newsletter yet: tboypod.com/newsletterWant merch, a shoutout, or got TheBestFactYet? Go to: https://tboypod.com/shoutouts Hosted on Acast. See acast.com/privacy for more information.

This is Nick. This is Jack. It's Wednesday, Saviche Wednesday. March 27th. And today's pod, out of all the pods we've ever done, this is the best one yet. It's a T-boy. We're whipping up the top three pop business news stories you need to know today.

Jag, you're looking fantastic over there. How about we kick things off? What are three stories for today's show? For our first story, it's McDonald's and Krispy Kreme. McDonald's just announced they're adding fresh Krispy Kreme donuts to all 13 and a half thousand U.S. locations. Out of nowhere, Krispy Kreme is borrowing the same strategy as Target. For our second story, we're headed down south of Florida.

The Sunshine State just banned social media for anyone under 14 years old. Because social media has become the cigarette of the 21st century. And our third and final story. The big story on Wall Street yesterday was how Dinks are going to retire. Thanks, you're having fun right now, but. What's going on in 30 years, Jack? Larry Fink just published his annual letter, which is about your retirement and how you're going to afford it. What do Jack and I got to do to get you into this timeshare?

Actually, there's nothing to do with timeshare. Nothing to do with time shares. But Yeties, before we hit that wonderful mix of stories, yesterday Nick and I woke up and we saw the same thing everyone saw, which is the collapse of an entire bridge in the city of Baltimore. A cargo ship crashed into the support tower of a bridge in Baltimore and the entire bridge collapsed. We've never seen anything like that. The collision and the collapse were both caught on video. It was completely surreal to watch that kind of destruction happen in seconds.

It was the Francis Scott Keybridge, named after the man who wrote our national anthem. It was built in 1977, but now it's no more. Here's what we know about that still developing story. It appears the cargo ship lost power and wasn't able to steer to avoid the bridge. And it appears it was a terrible accident. There was no sign of terrorism, according to Maryland's governor. As of this recording, two people have been rescued from the water, and six people are still missing, they're actually presumed dead at this point.

Sadly, those six people were construction workers who were just filling potholes when the collision happened. Now, it's actually a miracle that more cars and more people weren't on the bridge when that thing went down. This is amazing, but the ship actually issued a Mayday call right before the collision, so authorities had a short amount of time to stop new cars from getting on the bridge. There was enough time for the cars to get off the bridge. That fast action from the authorities saved a whole bunch of lives.

But right now we're thinking about the six missing construction workers who are on that bridge. And we're also thinking about the city of Baltimore, which is going to have to move on without a key piece of the city, the F. Scott Key Bridge. But here's the thing, Dusties. Jack and I, we love the city of Baltimore. I've only been there once, but I was 13 and my dad took me to a Baltimore Orioles game at Kandon Yards. It was incredible. I played a few lacrosse games down there, Jack. And honestly, we think that this historic city doesn't get enough love.

Did you know that Baltimore was the temporary capital of the United States? for a three-month period between 1776 and 1777 as we fought for our independence. And did you know that Baltimore Harbor built the big ships that helped us win that Revolutionary War? And today, the port of Baltimore is a gigantic trading hub. More cars and trucks are shipped through the port of Baltimore than any other port in the entire United States. And Baltimore actually invented the six-pack, like the six-pack of beer. Nattie Bo Brewery. They thought that eight was too many, but four was too few. Like we said, we love Baltimore. And we'll keep you update.

as more news develops about this story in the port of Baltimore. But from Federal Hill to Fell's point to Camden Yards, we are thinking about Baltie. Because Baltimore is the city that's always had America's back. 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 that caused a cultural storm.

It's the best one yet, but it's 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, Krispy Cream. It's stock searched 30% yesterday after striking a nationwide partnership with McDonald's. And we think this type of collaboration is actually the future of fast food. Jack, what is going on with the Ozmpic effect? We're living in the Ozempic economy, man.

Crispy Cream is suffering because that miracle weight loss drug is killing customer cravings for those Bear Claw donuts. And that is why Krispy Creme stock is down 25% in the last year below its IPO price. But yesterday, in one single day, Krispy Creme stock jumped 30% on news of a huge deal with McDonald's. Ronald's been craving that Boston cream, Jack. Two years ago, McDonald's tested out selling Krispy Cream donuts in 160 Kentucky locations.

And apparently you went cuckoo for those cronuts because it went overwhelmingly well, according to McDonald's. So yesterday, McDonald's is expanding from Kentucky to the entire country, nationwide crispy cream donuts within every McDonald's location by 2026. In two years, all 13,500 United States McDonald's locations are going to be selling fresh crispy cream donuts. I got to ask, though, how is McDonald's going to get fresh crispy cream donuts? There's no crispy cream in the state of Vermont, but there's a lot of McDonald's here. It's a logistical challenge, Jack, but Krispy Cream uses a hub and spoke model. They got a hub where they're making all the donuts, and then they're going to distribute them to, like, all the local McDonald's.

Right. So there's a huge bakery, probably in like Springfield, Massachusetts, where in the wee early morning hours, they're going to bake a ton of donuts and then deliver all those donuts to every McDonald's in New England by breakfast. It's quite an operation. Crispy is starting with three simple types of donuts, glazed chocolate with sprinkles and chocolate with cream. McDonald's. They now sell French fries in the afternoon, fried dough in the morning. well with the egg McMuffin. Early takeaway here, diet starts tomorrow. True. But yet, here's what Jack and I found fascinating about this story. This isn't just a brand collab, is it, Jack?

This is something way more intimate. Crispy Cream and McDonald's. Did we just become roommates? Yeah, McDonald's is basically subletting their kitchen to their buddy Krispy Cream. Like, it's like us and our buddy Timmy Jack. Yeah, that corner, that's yours now. Okay, Krispy Cream? But yet he's here's the funny thing.

Jack and I have seen this strategy before. We've seen this concept, but in a totally different industry. We call it Inception Retail. It's basically a store within a store. Yeah, Christopher Nolan style, Inception Retail. Store within a store within a store within a store. Best Buy pioneered Inception Retail. When they stuck a little Apple store within one of their big Best Buy stores.

Then Target became famous for the store within a store. They opened Ulta Beauty shops within their Target stores. And Macy's? They're basically just a store within a store. Macy's now has Toys R Us stores within the stores to get you to buy more Toys R Us and then buy more Macy. Inception retail is a win-win, both for the big store that's hosting the little store and for the little store. Now the hamburger wants in on this. Fast food is taking a bite, but they're doing their own twist.

So, Jack, can you stop licking your lips like that? We've got to get to a takeaway. Jack, what's the takeaway for our buddies over at Krispy Kreme? The future of fast food is the marketplace. Yeties. With delivery apps in our hands, consumers can get it. get just about anything delivered. You have infinite variety and options.

So to compete with that unlimited optionality, fast food restaurants are becoming food marketplaces. Besties, your local McDonald's has an advantage over Burger King if it's also a crispy cream. And it's got an advantage over Uber Eats because you can go there to get both a fresh Big Mac and a fresh glazed donut. Instantly.

Oh, and guess what? Wendy's? They're already doing this, aren't they, Jack? Cineabon moved in with Wendy's. They're serving Cinnibon cinnamon buns inside Wendy's. Yeties to compete with Uber Eats and DoorDash, which have every food available.

Fast food rivals are becoming fast food roommates. The future of fast food is to make a restaurant a marketplace. For our second story, the state of Florida just banned social media for kids under the age of 14. Because social media is following the same exact path as cigarettes. Now, Yeti is Jack and I are a podcast host, But if we were writing headlines for the New York Post, this is what we would run with tomorrow.

What is it, Jack? Florida man unveils Florida ban. Yet his governor, Ron DeSantis, signed a bill in Florida, prohibiting minors under 14 from having any social media accounts. The bill is called HB3. Now, other states have tried to limit social media for kids, but none of those other state laws have actually become law. This is the first of its kind. So, like, if you're 9, 10, 13 years old in Florida, it'll be illegal to have Facebook, Instagram, or TikTok accounts. You can't scroll until you're 14. And then when you turn 14, you need your

parents' permission to have your social media account. For a birthday gift, you're going to probably ask for a TikTok account. And then when you turn 15, you still need to submit your identification so the app can verify your age. If you're down in Florida, this is big. Whether you're 16 or 66 years old, you're going to need an ID to scroll social media. So the social media apps are going to have to install some sort of driver's license verifying technology. starting January when this comes into effect. Ma'am, you want a poker, license, and registration? Now, naturally, Google, Meta, and TikTok

called this bill unconstitutional and ineffective. And they say that teens are going to lose access to information on the web. Some parents aren't happy either. They think this decision should be there is not the politicians. But this law was passed with a huge majority by Florida's legislature.

And when this bill becomes law in January, if the social media apps don't comply, they'll be fined $50,000 per... kid. Our first thought when we heard about this social media ban for kids, the internet's about to get way more chuggy. Like if gen Alpha can't be online, who is Gen Z going to get trends from, Jack? Not us. No, I mean, millennials, we're like too old to invent memes. Are cat memes still a thing? I don't know. Our second thought when we learned about this ban is what apps are included in this ban? Funny thing is, this bill, it doesn't name any specific social media companies. It just

describes social media companies. Right. So, like, is Pinterest? a social media app according to this law? Are dating apps a social media app according to this law? Is Venmo social media? I saw you paid Timmy for Pizza, Jack, but I'm going to have to check some ID. The third thought was that we've seen this exact process before, and we've seen it with tobacco. What's happening to social media right now happened to cigarettes a generation ago. So Jack, what's the takeaway for our buddies over in social media?

Social media has become the cigarette of the 21st century. Yeti, social media is experiencing the exact same cycle as cigarettes did. Think about it. Just like cigarettes, we all know social media is bad, but we're addicted and we can't help but use it. We don't need to rehash all the mental health studies of the impact of social media on development. There are plenty of them out there. We don't need to remind you that the average American spends 150 minutes a day swiping social media. But just like Big Tobacco, social media firms at first resisted these studies that showed social media did harm.

And just like Big Tobacco, social media added features known to increase their addictiveness. And just like Big Tobacco, social media firms have been called before Congress and got in grilled. And now, just like Big Tobacco, regulation has begun to limit social media's use, starting with kids. And finally, just like Big Tobacco, regulation is starting with the states. If you want a TikTok in Florida, you're going to get carded now. So, besties, when we look at this situation, it's really just like cigarettes. Social media, it's not going to be banned for adults over 18. You can do whatever you want if you're an adult.

Which is the final chapter of our takeaway. Social media has become the cigarettes of the 21st century. Now a quick word from our sponsor. For our third and final story, America's biggest money manager thinks that America faces a fiscal time bomb. So we're talking retirement, millennial retirement, and how saving money actually saves you in taxes, too. Jack, let's kick it off with some trivia. Biggest investment company in the world. Who is it?

Where is it? What are we talking about? It's BlackRock. Midtown Manhattan. It's run and it's founded by CEO Lawrence Fink, aka Larry Fink. BlackRock manages $10 trillion of assets for clients. Jack, could you sprinkle on some context? We understand, man.

That's enough money to acquire the company Lyft. 2,000 times. It's 2,000 lifts. But yet he's Larry, the man who founded this company, says that he founded the company for two particular reasons. First reason was to get rich by building a big successful company. Let's be honest. The second reason, though, was to help people invest their money right

so that they can retire comfortably. Well, Larry Fink is a respected man in the financial community and he just published his annual shareholder letter. In that letter, he said he hopes every American can live their final years with dignity and financial. freedom. That sounds lovely. But Jack, there is one problem he points out, right? The data suggests that most Americans won't be able to live out their final years with dignity and financial freedom. So he's got some ideas to fix that. And Jack and I jumped in T-boy style. What Larry's talking about,

by the way, is extremely relevant to us. He's talking about millennial retirement. Yeah, millennial retirement. Like, you're dinks today, but you're retired tomorrow. Larry Fink says it will be much more expensive for millennial Millie to retire in 30 years than it for Millie's parents to retire today. It's not just because millennials are going to want to eat avocado toast at 5 p.m. senior supper dinner every night when they're retired. Now, the big reason retirement will be way more expensive in 30 years is that people are living longer. And it takes more money to retire if you live longer.

Look, it's fantastic if OZempe helps you lose weight and therefore live 10 years longer. That's great. That's beautiful. That's wonderful. But 10 extra years of Del Bocco Vista retirement community, Jack. That's going to add up, man. That is expensive. And 10 extra years of sending birthday checks to those grandkids, you're going to be sending a money when they're like 60.

Not grandkids. Great, great grandkids. You're going to be like 140 years old. Your great, great grandkids are going to ask for like money for their class trip to Mars. If you live until you're 110, then you're retired for like 50 years. It's a lot of time to have no income and be spending money at Del Boca Vista. You're going to look fantastic. But yet his fink says that we should push back the retirement age to reflect the longer

life expectancy, which we think makes sense. But he also says that more Americans should invest in the stock market to prepare for their retirement. If your savings do nothing in a savings account, then you won't be able to afford the pickleball club over in Fort Laudel now. But if your savings grow 10% per year instead, as the stock market historically has, then maybe you can afford that pickleball match. Now, Jack, we should point out that this man, Larry Fink, running the biggest manager of money on earth is a little bit biased on that point. The celebrity, he's proposing that we all put more money in the stock market would put money in his pocket too. But the spirit of it we do like. And we want to add to it with our takeaway. So Jack,

what's the takeaway for our buddies who are everyone who's going to retire one day? If you need another reason to invest in your retirement, here it is. You'll pay less taxes if you do. Yeties, our government is literally offering you a pass on paying taxes if you invest in retirement accounts. It's just a fact. It's true. The government wants us to invest in retirement so much, they're letting us take a free pass on paying taxes. So, Besties, here's out on this one. If you put money into the stock market through a traditional brokerage app like Robin Hood, you pay taxes twice on that money.

You pay taxes first when you earned that money through your paycheck, and then you pay taxes a second time when the money you invested in the brokerage app makes any gains. But here's the key. With retirement accounts, you only pay taxes once, not twice. Both an IRA and a 401k, they let you withdraw money in retirement, having paid taxes only once. And it's the same story with college savings accounts for your kid. The government lets you skip one of the two tax payments. And tax payments could be huge.

Like, your tax payments could be 20%, 30% or 40% of the gains. It's a huge difference, huge difference, Jack. So Larry Fink, America's biggest money man is urging Americans to invest more into their retirement. The best is, if you need another reason to invest in retirement, here it is. You pay less taxes if you invest in retirement. Jack, can you whip up the takeaways for us for Civeche Wednesday? McDonald's just announced they're offering crispy cream donuts at all 13,000 locations by 2026. They're turning rivals into roommates.

And this is how fast food competes with delivery apps make the restaurant a marketplace. For our second story, Florida man signs Florida ban. Social media apps are banned from letting kids under 14 open accounts. Social media. It's the cigarette of the 21st century. And our third and final story, Larry Fink raised alarms of a fiscal time bomb that's coming when people have to retire in 30 years. If you need another reason to invest in retirement, retirement lets you skip what could be a big tax payment.

But yeties, this pod's not over yet. Here's what else you need to know today. First, Pinterest just opened a huge new office in Chicago doing logistics. And it looks like, well, it looks like a Pinterest board. It's actually amazing. It's an envy office, a concept we introduced last year. An office so nice, everyone's going to return to the office. Work from home buddies are going to be jealous.

There's only so much we can do on an audio product podcast to describe this office, but we're going to include a picture in our Saturday newsletter. So subscribe to our newsletter and you can see this thing. There's a link in the episode description for you to subscribe. And second, Amazon just launched same-day prescription delivery in New York City and Los Angeles. If you got a thing on your thigh you're concerned about, you can now get thigh castrosol to treat it delivered to your door in as little as one hour. And remember yet is Amazon also launched prescription delivery by drone in Texas.

They're getting your drugs quick. And finally, Chick-fil-A has always pledged. It was a pledge to not sell fried chicken with antibiotics in it. But they just backtracked. They're going to now sell chickens with antibiotics in them. Yeah, Chick-fil-A is blaming the supply chain. They say unless they loosen their position on this, they would run out of chicken. I'd like a fried chicken sandwich, AVEC, Antibiotics.

Now, time for the best fact yet. This one sent in by a legendary Yeti, Tomas Bajio, from the lovely North Shore of Oahu in Hawaii. How long does a deck of cards survive in a Las Vegas casino? Yeah, like, how long is a deck of cards played in Vegas before they get rid of it? Like, what's the lifespan of a deck of cards? Not long, actually. On average, casinos replace their deck of cards with an entirely new deck

after just 12 hours of it being played. Apparently, casinos don't want cards to develop, like, marks that could reveal what's on the other side of the card. So they just get rid of those things. I wonder, do they, like, burn them, like in the movies you sometimes see? We don't know how they get rid of them. All we know is that that card only lasted 12 hours. Now that's churn. Yeties, you are looking fantastic today.

And by the way, if you've got the best fact yet, or if you want a shout out on this pod for, like, your birthday, wedding, engagement, bar mitzvah, we've got a link in this episode description. Or you can hit us up at T-Boy Pod where we have a tab called shoutouts. You can submit a best fact yet or submit a shout-out, and Jack and I will lovingly share it with all the Yetis and besties out there. Nice climactic finisher. For example, Jack went for the long-sleeve sweater today, and it looks fantastic. Oh, is that a shout-out for me? That was a shout-out.

You got a shout-out, Jack. Oh, thank you. I submitted it myself and I read it myself. Instantly, just now. Okay. Yeties, if you know, you know, Jack and I, we'll see you tomorrow. And before we go, a happy birthday to Mr. Nick Kramer, the first member of the brothers Kramer and first of his name of thy Kramer family.

Nick hit a home run in the Vermont State Championship game at Centennial Field in Burlington, Vermont. He was a legend. Full disclosure, Nick Kramer is Jack Kramer's brother. He started the whole series of Kramer brothers way back in 1984. And a happy birthday to Molly B, who's from the state of Maine, but is celebrating this birthday in New York City with her mama who just came down to party. Happy birthday to David Leo in the Bay Area of California. And Adonis Espinoza has got a birthday in West Columbia, Texas. Happy birthday Adonis.

And a huge shout out to our favorite bookstore owner Kelsey Black, who just got her first electric car down in Austin, Texas. Kelsey Black, her name's Black, and so is the car. Enjoy that zero to 60 in three seconds, Kelsey. This is Jack. I own stock of Amazon and Krispy Cream and Nick and I both own stock of Apple and Robin Hood. How do they get rid of them? Do they burn them like in the movies?

This kid's asking too many questions about these cards, Mike. What do you want to do with them? Show them what we do with the cards, Tommy. Dude, you're on a roll. You really don't have to roll. I know I'm boosting your confidence without my belly aching laughter. You're on Jeff Fuel on a lame fire check.

All right, man, I'm ready when you're right. Here we go. Three.