The Best One Yet - 💚 “Grinchonomics” — The Grinch’s anti-brand. Zegna’s $1K sneaker. Carvana’s crazy stock. +Dreidel Rally

Episode Date: December 15, 2025

The Grinch is now the top-selling IP of the holidays… Because consumers prefer the anti-hero.Zegna’s $1,100 sneaker makes $160M/year… because the ultimate luxury is slooooooow.Carvana is officially the craziest stock of the last 3 years… because of 43,000 problems.Forget the Santa Rally, how about the “Dreidel Rally?”... Stocks pop for Hanukkah.$ZGN $CVNA $SPYBuy tickets to The IPO Tour (our In-Person Offering) TODAYAustin, TX (2/25): https://tickets.austintheatre.org/13274/13275 Arlington, VA (3/11): https://www.arlingtondrafthouse.com/shows/341317 New York, NY (4/8): https://www.ticketmaster.com/event/0000637AE43ED0C2Los Angeles, CA (6/3): https://www.squadup.com/events/the-best-one-yet-liveGet your TBOY Yeti Doll gift here: https://tboypod.com/shop/product/economic-support-yeti-doll Hosted on Acast. See acast.com/privacy for more information.

Yeties, Nick and Jack here. Before we start the show, we just want to take a moment with you. Because after we recorded this episode over the weekend, there was just violence worldwide. There were attacks on American troops in Syria and attacks on the Jewish community in Australia during a Hanukkah celebration. Each act of gun violence was horrific, and we're thinking of the families affected. Closest to home, though, for us was the attack at Brown University. We have many fans there, many business partners who went there. And Nick, my co-host, graduated from college there. And as Jack knows from visiting me there, and we both know, Brown is just a truly special place.

Students are this unique combo of creativity, ambition, entrepreneurial spirit. Providence is just this perfect college town, and the campus is magical. You turn a corner, especially this time of year when there's snow on the ground. And you could be back in the 1700s. It is timeless. It's like George Washington could walk out of nowhere. It's special. We can't imagine what it's like for that magical bubble to be broken, but we want to let all the Brown bears

and American service members and Jewish people out there know that we're thinking of you today. We're here for you, if you want to connect, just send Nick and me a DM. So Jack and I made this show the best one yet. Ever true.

Let's get to it. This is Nick. This is Jack. Welcome back. It is Monday, December 15th. 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, Jack and I got your daily dose of dopamine and dividends, Jack. I honestly think this is the best three stories we've ever done. Me too. What a pod today? Jack, three stories for today's show.

What do we got in the TV? For our first story, the Grinch didn't just steal Christmas. He's stealing licensing money from every creative company right now. The Grinch became the most valuable IP of the holidays because capitalism loves an anti-hero. For our second story, Carvana's used car stock rose 1,000 percent, then dropped to 99 percent, and then surged. 10,000 percent. And now Carvana is joining the S&P 500. We'll tell you how Carvana became the craziest stock of the last five years. And our third and final story, every man on Wall Street wants the same gift this year, $1,100 Zena sneakers. Zena's business is booming these days because ironically,

they slowed it down. But Yetis, before we hit that wonderful mix of stories. I mean, like we said, what a mix of stories. No one else is doing that mix jack. We're all familiar. with the Santa Rally. Ah, the Santa Rally, the Wall Street phenomenon of stocks going up from Christmas to New Year's. But how about Hanukkah? Yeah. How do stocks perform during those eight crazy nights? Well, Jack and I called up our bubby whipped up some hutspun dove into the numbers for you. Over the last 100 years, the S&P 500 jumps during Hanukkah by an average of 0.1%. Jack, best Hanukkah ever for the stock market? What was it? 1933. Yep. A 10% rebound from the Great Depression. But, Jack, worst Hanukkah for the stock market?

What was it? 1931, the Great Depression. Now, besties, our statistics professors told us that stocks have no statistically significant difference during Hanukkah as the rest of the year. But 54% of Hanukas end with a higher stock market than they began. Jack, those numbers ain't kosher, are they, man? They sound kosher to me, dude. So the greatest Hanukkah gift of all was for your portfolio, Greg. Besties, we're hoping this year for a lot could lift.

A festival of liquidity. Or as we call it, the Draydle Rally. The Dradle Rally, because it spins up eight days of gains. Yeti's Hanukkah began last night, and stocks are already at all-time highs. This market has got some mitzvah. That menorah is lighting up some money. Happy second night of Hanukkah Yetis, Jack. Let's hit on three stories.

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 a norm. 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.

First, a quick word from our sponsor. Our first story, it's The Grinch. Dr. Seuss's most villainous creation is also his most lucrative. One book, three movies, dozens of other mean businesses. The Grinch shows the power of anti-brands. Yeties, McDonald's big holiday promo this year, wasn't reindeer burgers or Santa sauce, So what was it, Jack? A Grinch-themed happy meal.

Green box, Grinch socks, pickle-flavored French fries, and it's sold out coast to coast. Sold out. In fact, McDonald's senior marketing director said last week, the Grinch meal, it's out selling the snack wrap. The Grinch is actually everywhere. Yeah, love's not everywhere. The Grinch is everywhere. Walmart is dedicating a half of an aisle to Grinch merchandise this year, and Grinch memes are filling half of your Instagram feed this year. So Best, he's positive.

the pod, Jack and I are looking at the business of the Grinchers, we call it, the Grinch economy. And this ain't just for Who's Down in Whoville. It started 68 years ago. Yeah, the Grinch is old. Invented in 1957 by Theodore Seuss Geisel. Originally, it was a book, and eight years later, it became a movie with songs. Jim Carrey made the live action version in 2000. Benedict Cumberbatch made the animated version in 2018. The Grinch took his first step in his IP journey in Hollywood. And now two of those movies are in the top ten on Peacock right now. while the other is in the top 10 on Amazon Prime. And combined, those three films grossed $1 billion in the box office.

Yeties, The Grinch, it's become its own franchise bigger than Rudolph, Home Alone, or Mariah Carey. You're a bad banana, Mr. Grinch, as my son likes to say. But besties, this is what we found fascinating. You already knew about the Grinch book and the Grinch movies, right, Jack? But did you know about the Grinch cruise line? Get this. Australia, the country, loves the Grinch so much. Carnival hosted 12 Grinchmas in July cruises just this summer. Which are cruises to celebrate the Grinch?

Oh, and Grinchmas has been happening down in Orlando at Universal's theme park since November. There's a Grinch podcast for kids. There's a Grinch traveling live show called the Dr. Seuss Experience. Oh, and plot twist, the Grinch has made the full IP journey. It's jumped from media to experiences to now fashion. Nike has a Grinch basketball sneaker that was worn in an NBA game earlier this year. Jack, I don't want to one-up you here, but Kylie Jenner Cosmetics has a Grinch makeup line right now. Yeah, green. The Grinch is a rare IP with multi-generational appeal. And now it's one of the most licensed characters of all time. And Besties, here's the best part. The Dr. Sousa State, which collects all these licensing fees, gives 100% of the Grinch's profits

to charity. We're talking education, health, science, animal, conservation, and the arts all funded by the Grinch. You got to support the arts. Surprise, surprise. Hurray, hooray. Capitalism's heart grew three sizes that day. But the Grinch also provides a lesson that brands and creators can learn from. Yeah, here's what we're thinking, Yeti's. Maybe brand equity doesn't come from a store. Maybe brand equity means a little bit more. So, Jack, what's the takeaway for our buddies over at the Grinch? For your brand to be a hero, it needs a villain. And for a to be a villain, there needs to be a hero. Yet he's the key reason why the Grinch is more viral and lucrative than characters like Buddy the Elf or Mariah Carey? What is it, Jack? It's not because he's a hero,

it's that he's an anti-hero. And great brands have even greater anti-heroes, and that benefits both of them. Uber is the anti-hero of Lyft. Pepsi is the anti-hero of Coke. These dual rivalries with a good versus evil subtext are mutually beneficial in business. You see, consumers respect a heroic brand, but they embrace its villain too. The only weakness of the movie Elf with Will Ferrell is that there's no villain in that movie. Don't forget about that South Pole elf, Jack. Yeties, there is an opportunity for a Grinch to every Santa in business.

For our second story, Carvana, a used car marketplace, is now worth more than America's three big Detroit car companies combined. Not combined, actually. You wish so badly it was combined. I really wanted to say combined. Here's the turnaround tale of how Carvana went from near bankruptcy to the S&P 500 in just two and a half years. Now, Yeties, as you may remember, Jack and I last covered Carvana on this pod back in 2023. And back then, back then we thought this was a wild story.

A pandemic winner, Carvana stock was down 99% in 2023, but then rose 1,000% in just months. Yeah, we thought this was crazy because Carvana was hugely in debt at the time. But then we covered the story because we were. Wall Street forgave Carvana of $3 billion of their debt. It was a surprise pass. A Christmas story of charity because that lease on life for Carvana, let it not just survive, but thrive. Because in the three years since, Carvana stock has gone from $4 a share to $400 today.

Its valuation gone from $1 billion then to $100 billion today. Today, Carvana, a used car stock you probably have never heard of, is worth more than Ford Motor company. It's worth more than General Motors, and it's worth more than Chrysler's owner, Stalantis, again, not combined. But still impressive. Yet he's Carvana's growth and its profit margin last quarter. Jack, what are they bigger than? Better than Tesla's. That's right. And on top of it all, Carvana just got added to the S&P 500 Club of America's biggest stocks. And it just finished a 13-day stock market winning streak to celebrate it all. Now, Vesties, pause the pod for a second. And do not buy that stock right now because of this story. Don't do it just because of this story. Because at its current

price, Carvana stock is quite expensive. However, the cars that Carvana sells do not look expensive, relatively speaking, and that's the key to the business model. This year, the average new car sold in America hit $50,000. I mean, Jack, just four years ago, the average new car in America was at $35,000. So the huge inflation of new cars is driving more demand for used cars. But Jack, even used cars are not cheap anymore, are they, man? The average car that Carvana sold last quarter was $36,000, and Carvana only paid $28,000 to buy them in the first place. Which means Carvana's taken $6,000 bucks in profit per car sold. $6,000 per car sold. Carvana makes more profit per car than GM, Ford, or Teslinic. Besties, Carvana doesn't have factories,

but they do have an eight-story tall car vending machine. Yeah, that's a real thing, and they got 40 of them. That's what excites consumers, Nick, the car vending machine. But the reason investors are so pumped is that their profit margins are getting fatter. Let's dive in. In the first nine months at 2025, Carvana's profit margin has grown by half a percentage point. Sounds small, but it means that Carvana is raising prices and customers are still buying. And besties and customers are eating up your margin.

That means your business is cooking. Yes, it does. Oh, yes, it does, Jack. Jack, what's the takeaway for our buddies over at Carvana? I've got 43,000 problems, but Carvana's not one. Yes, wild stat here. There are 43,000 car dealerships in America, but it's not Americans' favorite retail experience. According to a 2016 report that Carvana loves to brag about,

81% of Americans do not like the car buying experience at car dealerships. Now remember, besties, the oldest play in the entrepreneur's playbook is to solve the customer problem. The problem with car buying in America is not that people hate buying cars. It's that they hate the price haggling that happens at dealerships. Exactly. So we think Carvana's most important innovation is actually their no-price negotiation policy. It turns out that policy is the real profit puppy. At Carvana, the price is the price. They will not change it. At your local Honda dealership, the price is whatever Jimmy decides to tell you as he walks up to you in the bill. What's going on with that chassis?

You see, people, it turns out, will pay hundreds, maybe thousands more to avoid the anxiety of asking a dealer for a price reduction or the stress of thinking you're getting ripped off on that Rav4. That's why America's 43,000 car dealerships sold 0% more cars this year than last year, but Carvana sold 44% more cars than last year. Jack, I got 43,000 problems, but Carvana ain't one of them. Now a quick word from our sponsor. For our third and final story, what do Wall Street men want for Christmas this year?

Well, it's the $1,100 zanier sneaker, the new status shoe. Finance and Silicon Valley love this 110-year-old Italian brand, because the ultimate luxury is time. Ah, Eddie's. The hardest gift, it's for someone who already has everything. But they may not have this yet. It's an aspirational gift worn by Tim Cook, the CEO. of Apple, Andrew Ross Sorkin of Deal Book and CNBC fame, and Hugh Jackman of Hollywood and Broadway. Basties, we're talking about the $1,100 Zena, triple-stitch shoe, Jack. What is it exactly? It's a slip-on leather sneaker that looks pretty ordinary, actually. It's got criss-crossing

elastics, though, instead of laces. Now, to sprinkle on some context here, 20 years ago, men wore a suit and leather lace-up dress shoes when they were going to the office or they were going to the wedding. The dress code was very clear. Now, I still wear a suit sometimes, but I'm never wearing those leather Alan Edmonds lace-up shoes that I got from my banking days. And neither are the anchors on ESPN Jack. You see, the pandemic changed office dress code, and it was a boom for this luxury brand sneakers. Zena's triple-stitch sneaker can be worn in the boardroom and the ballroom without a wardrobe change necessary. Yeah, it's now become the unofficial shoe of flying private. It basically wearing them feels like a yacht. That's why Zena's

sneaker sales six-ext from 2019 to 2022. And the success of Zania's $1,100 sneakers have created an entirely new sector of the industry. Now, Hermes, Berluti, and the row all have sneakers that are selling for the same price as a MacBook. So besties, Jack and I want to know. How is one expensive sneaker doing $160 million of sales for one brand? To answer that, you have to study the history of Zania. And to do so, we'll let Alan Alda from the movie Nothing But The truth, introduce the brand for you. Nice suit. No, it's not a suit.

It's a Zena. Hand-stitched. 15 mil-m-mill 15. Now, when he said 15 mil-m-m-15, does that mean the suit cost $15 million? If to have to ask, Jack, then we can't measure you for one of the besties. Zania was founded back in 1910 in the Italian Alps, wasn't it, Jack? And what Hermes is to ladies' handbags, Zania is now to men's blazers. And Armini Hildo Zania is still headquartered 5,000.

feet above sea level, they've never moved the headquarters down to Milan. Now, they did IPO two years ago in the New York Stock Exchange, and yet it's still run by a fourth generation family member of the Zaynias. And get this, just last month, they announced a succession plan and check who's taken over the company. A fifth generation of Zanyas. So this is what we find fascinating. Despite all these anachronisms, Zania's numbers have stood the test of time. It's worth $2.6 billion on Wall Street. It did $1.6 billion in revenue last year. That is half of Burbank. but it beats their rival Brunello Cuconnelli. And Zania's stock is up 30% this year. Not just because their $1,100 sneaker has become the it gift for the splurge guy. Speaking of which, Jack, if you don't want to buy me the sneakers, you could always buy me the stock.

It's just $10 a share at this point. Fair compromise. But if you do buy me the suit, I'm a 42 regular, and my right arm is just a little bit longer than my left. Okay, shooter. So Jack, what's the takeaway for our buddies over at Zania? We pay a premium for speed,

but we pay more for slow. Yeti's this is wild. Zania's CEO has a stated goal that's the opposite of every company we cover on this pod. It's to be the slowest brand in the world. In tech, it's all move fast and break things. It is in fashion and luxury too.

The low end, Sheehan is super fast fashion. But on the high end, Louis Vuitton is also big on zeitgeisty collabs. But for the fourth generation CEO of Zania, Slow is the biggest compliment you can give his brand. Because a huge part of Zania's business is made to measure. That's right, custom suits are still key to Zania's profits. Each suit takes at least three weeks to tailor and ship to the customer. The company could make them in the

U.S., which would be quicker, but the CEO insists on doing it the slow Italian way. Veses, this is the only public company we know with a huge custom tailoring business, and that is the opposite of the instant gratification we see everywhere else. Because time is the ultimate luxury, and we pay a premium for speed, but more for slow. Jack, could you whip up the takeaways for us to kick off the week? The Grinch is the most valuable holiday-related IP there is, and all the profits go to charity. The hero villain relationship. Every great brand needs a tanny hero. It's mutually beneficial. For our second story, Carvana, the online used car marketplace is now worth more than Detroit's

big three. The prices ain't negotiable, and that's the simple key to Carvana's success. And our third and final story, Zania makes the $1,100 luxury sneer, that that finance guy was wearing at that holiday party this weekend. Oh, I see. Hey, buddy Timmy, we got to talk after this. Yeties, while every other brand is moving fast as possible, there's value in being slow. But besties, this pod's not over yet. Here's what else you need to know today. First, if you're thinking of skiing this winter, for the first time in years, Vail actually lowered ticket prices? Vail Resorts, which owns 42 Mountain Resorts, is cutting their single-day lift ticket by 30% this year.

Bessies, this is huge because in the last 25 years, lift tickets have risen three times faster than inflation. They're basically forcing you to buy the ski pass, but finally, they're taking a chill pill. Yeah, yeah, ski flation. It's coming down. Oh, by the way, Jack and I have been working on a ski story out there. If you want us to do it, comment French fry in the comments. Or pizza wedge, whichever is more appropriate for your abilities.

And second, cannabis stocks surged on Friday. report Trump will reclassify marijuana. At the federal level, cannabis is still the same illegal category as heroin today. But Till Ray's stock jumped 30% on Friday, although there have been years of false starts on federal decriminalization of marijuana. False highs, if you will, although the report said that Trump would sign an executive order today. And finally, Starbucks just revealed its most viral drink of 2025. Here it is. Dubai chocolate. The Middle Eastern pistachio-flavored drink, got 50 million views across social media, which is the most of any of Starbucks's flavors. Now, remember, Shake Shack also launched a Dubai chocolate shape that was also so popular,

they brought it back for a second limited time run. When two publicly traded companies go viral, you know that that trend is a profit puppy. TikTok trends, they can be a profit puppy. Now, time for the best fact yet, which, because it's Monday, means tea boy trivia. What do we got, Jack. What Christmas movie did the best at the box office? What is the highest grossing Christmas movie of all time? And Jack, what's the one caveat here? We want both nominal and adjusted for inflation. Yeah, Jack used to be an econ TA, so he insisted on a nominal and an inflation adjusted answer for today's show. So here's your only hint. The nominal one is more recently, partially because of inflation, and the real one is from the early 1990s. The answer is on tomorrow's show.

Yeties, you look fantastic out there. And Jack, you are looking fantastic too for the second night of the Drado Rally. It's a thing. Oh, the statistic show, it's a thing. After this podcast, I'm listening to Adam Saylor's on a cassop. Okay, and then after you do and you make some money in the market, Jack, for those Zania sneakers, I'm a size 11, and my left foot's just a little bit longer than my right. No, it just feels that way because you're only wearing one shoe.

Besties, you look fantastic out there. Remember to follow us and give us five stars to help grow the show. Nick and I, we'll see tomorrow. Can't wait. And before we go, congratulations to Bethany and Ney, who just got married down in lovely Orlando. Guys, let's see the picks. Congratulations. Happy birthday to Odin Ryder in Conifer, Colorado, who's got a new pet gecko that we'd love to know the name of.

Yeah, I'd love to know the name of that guy. And Cam Kelly, aka Yammies, down in Cave Creek, Arizona, is the best mom ever to an eight-week-old baby, and he's got the best birthday yet. And a big shout out to Alvaro Alvarez and Amaya, who's six and listening in Jacksonville, Florida on the way to school right now. You got this, Amaya. And Phil Snell down in Wichita, Kansas has got an 18-year anniversary. Congratulations, guys. And a big shout out to Andrew Pinto, who did 4,600 minutes of T-Bore this year. Top 2% of listeners.

And he did it down in Coca-Mamba, Bolivia. That officially makes Andrew our biggest Yeti in Coca-Bomba, baby. I would love for us to be corrected on that, Jack. This is Jack. I own stock of Ford and Lyft. Nick owned stock of Nike and ShakeShack, and we both own ETFs of the S&P 500 and stock of Apple.