The Best One Yet - 🤠 “If the jeans fit, you must commit” — Wrangler’s Yellowstone face. Elon vs Bezos. Britain’s financial firing.

Episode Date: October 21, 2022

Tesla just had its most awkward earnings call ever, but the real story here is Elon Musk vs Jeff Bezos. British Prime Minister Liz Truss just resigned, losing to a head of cabbage — the reason? “It’s the Economy, stupid.” And Wrangler has a new marketing plan to sell you jeans, from watching Yellowstone to listening to jazz. $KTB $TSLA $AMZNFollow The Best One Yet on Instagram, Twitter, and Tiktok: @tboypodAnd now watch us on YoutubeWant a Shoutout on the pod? Fill out this formGot the Best Fact Yet? We got a form for that tooLearn more about your ad choices. Visit podcastchoices.com/adchoices Hosted on Acast. See acast.com/privacy for more information.

This is Nick. This is Jack. It's Friday, the Real Friday, October 21st, and today's pod is the best one yet. It's a T-boy. It's a T-boy, Jack. I'm sorry, Jack. Do we have a winner yet on the National Mullet Championships? Not as of this recording.

It's going to hurt. But the winner of the Kids Division has been chosen, and it's Emmett Bailey of Monominee, Wisconsin. Emmett Bailey, Jack, I'm looking at this right now. His mullet has a mullet. Emma is eight years old, but his mullet's going on 35. That thing's extra party in the back. Jack, what's our first story for the T-boy? Tesla just had the most awkward earnings call ever.

It was awkward, but the real story here, it's Elon Musk versus Jeff Bezos. For our second story, the Prime Minister of Great Britain has resigned after just six weeks. Because the economy's stupid. And our third and final story is Wrangler-Janes. They've developed a unique style of marketing. Yeah, one fit for old people. one fit for young people. I don't know which side I fall in in those two groups.

The answer, Jack, is cordorite. It's quarter right. But Yeties, before we hit that fantastic mix. A perfect mix to go into the weekend with. I love this mix. This weekend, you're going to take a shower. Hopefully you bathe yourself. That's our one hope.

Bave thyselfth. And yeties, while that water rains down on your neck. While it's porous. Did you think of something brilliant just now? Anything novel come to you while that water was hitting you? Because our top ideas come to us while we're in the shower. Yes, the best breakthroughs do occur in the bath. Besties, according to a not recent study from Drexel University, shower thoughts are real.

Yeah, it turns out the shower is an ideal state for idea generation. Because the bath is the perfect balance of relaxation but also stimulation. Because, Jack, you're distracted, but also you're like not distracted. That's why you say, aha, mid shampoo. That's why you say eureka while you're lathering your legs. That's that pitter-powder of water, it massages your mind. a brainstorm while you're washing your buns. Get this. Ed Shearren

is known to have written three songs in the shower. Get this. Four Pulitzer Prize novels began in the shower. You're not going to believe this one, but it's true. Aaron Sorkin took eight showers a day to write the movie, The Social Network. Jack, what happened

with Einstein's theory of relativity? A rubber duck was involved. Oh, yeties, you have time to think while you're doing your ruby-dub-dub. Your creativity thrives while you're naked. The next time you're slathering on the scrub. The next time you pop on the pantine. Besties, take a moment and think for a second.

Because it's probably going to be your smartest thought of the day. Jack, let's write that down really quickly and let's hear a three story. 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. 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 For our first story, Tesla just had a really, really, really, really awkward earnings call. For realers. Yeah, for really. It felt like we needed the fifth, actually. Well, Yeties, it's Elon Musk versus Jeff Bezos. Who you got? Who you got?

But first, Jack, let's talk about the Tesla numbers. The number one electric car company in the world broke its chassis in the third quarter. First of all, Tesla whipped up $1 billion in profits. per a month. That was actually huge. That's fantastic. It is, but it was less than what Wall Street expected. Oh, Peter, you're going to have to come in on a Saturday. Now, ladies, here's kind of the strange part. Tesla, it turns out, made 22,000 cars more than it sold last quarter. That means Tesla made too many Tesla's last quarter. If you got a Tesla lasting longer than five hours, you're going to want to call a doctor. And that's why analysts have asked, is that a sign of weak demand?

that you got 22,000 extra cars in the lot. And that is when things got weird. Elon on a conference call with Wall Street analysts, kind of freaked out that someone implied that Tesla had a demand problem. Tesla's CEO great at retweeting his fanboys. Not so much taking critical questions. That's why Elon fired back with this. Elon said Tesla will be worth more than Apple.

Sorry, what's that? Tesla will be worth. worth more than Apple. In fact, Elon said, I see a potential path with Tesla worth more than Apple and Saudi Aramco combined. Jack, when you say something extreme, I don't know, maybe just double down on it. That seems like a good move. Now, Yetis, let us sprinkle a little context on this for you. Apple is the number one most valuable company on Earth.

It's worth $2.3 trillion today. Saudi Aramco, the oil company, is number two most valuable company on Earth. It's worth $2.1 trillion today. It's so facto if we're not incorrect here, Jack. Tesla would therefore be worth $4 trillion, according to Elon? More than $4 trillion. Yeah. Which is nearly six times today's value of Tesla.

Or infinity times the value of Lyft. Yeties, this isn't modesty. This is an honesty. That's some Elonist. That is exactly what this is, Jack. Tesla stock fell 7% yesterday on all that awkwardness. And it's down 50% since their highs of last year. On all that Elon is dee.

So Jack, what's the takeaway for our buddies over at Tesla? Elon and Bezos said opposite things. Are both correct? Jeff Bezos, Elon's only opponent in the billionaire ship measuring contest. Well, the founder of Amazon said this week, it is time to batten down the hatches. Batten down the hatches. Jeff Bezos was looking at a slowing economy, rising interest rates.

And honestly, he doesn't like what he sees. On the other hand, Elon is outrageously bullish on Tesla's prospects saying yesterday, pedal to the metal. Okay, so, Jack, we have one saying badden down the hatches, one saying pedal to the metal. Both are opposite things. Who is right on this? How can that be? Well, Bezos is looking at the world through Amazon's lens. A company used by all.

And Elon is looking at the world through Tesla's lens. A company used only by the wealthy. It can actually be true. It can. That both the average American is in pain, while also wealthy Americans are doing great. Amazon is battening down the hatches. Meanwhile, Tesla, they could be putting pedal to the medal. The world's two richest men are saying opposite things.

And both could be right. For our second story, after just 44 days, Britain's Prime Minister, Liz Truss, half resigned. Because it's the economy, stupid. Like the old saying goes. Okay, Jack, should we talk about, like, the gambling? Like, we're not big gamblers.

We're not. But there is some gambling you could do if you're a Yeti right there. I do fantasy football. That's a good one to do. But if you're a Yeti, out there, you could be betting this weekend on the Giants, Jaguars football game. Or you could bet on the Yankees Astros baseball. Or you could bet on a head of lettuce. That's right, because one newspaper in the United Kingdom is taking wagers on cabbage.

This is wild. So here's the question. Will Prime Minister Liz Truss last in her job longer than a head of lettuce stays fresh? Well, yesterday, the cabbage won. Oh, the vegetable and outlasted Liz. There was actually a live video feed on the head of lettuce to see how it was doing. The vegetable turned brown, but not brown enough. The newspaper editor actually had a sandwich with the lettuce. It was still fresh. Because after 44 days, Liz Truss has stepped down. Which makes Liz Truss the shortest serving prime minister in the 300-year history of Britain

having prime ministers. Yet he's in relationships. Money is often the number one source of tension. Well, in the United Kingdom, money became the number one source of tension, Jack. The tension started when Liz Trust took over and in September unveiled her mini budget. It's like a mini budget, baby budget. Liz Trust tried to pull a Margaret Thatcher. A classic Margaret Thatcher.

Announce a tax cut with the biggest cut coming for the wealthiest and highest income brits. Tax cuts. They're easy, popular politics, but not necessarily good policy. Right. Well, this would have given people more money to spend. And here's the problem. At exactly the moment when the central bank didn't want them to spend. Tax cuts mean people have more money, which means people will spend more money, which would have made inflation worse.

Oh, by the way, Britain's inflation is already worse than ours. Not a good situation. Oh, and those tax cuts, they were going to be paid with more debt, with more borrowing. It was an awful economic policy, and the international investor community looked at Britain and thought the idea was bonkers. Like we said, there was some tension. So, Jack, what were the short-term impacts of this whole plan? This failed budget caused the British pound to drop to the lower. level in 27 years. And Jack, what were the long-term impacts of this plan? A credibility blow to Britain, a country that is supposed to understand how finance works. It's supposed to be bending it like

Beckham. In the meantime, that lost credibility means Britain's government now has to pay higher interest to borrow more money. It's just exacerbated every financial and economic problem they already had. Well, Yeti's three weeks later, to her credit, Liz Trust canceled that entire tax cut plan. Investors were relieved, but they're still disappointed. And now Britain's parliament has to decide on a fifth prime minister in six years. Now, the Brits have climbed out of financial holes before, including after World War II. Jack, you throw a few Barclays analysts on this thing. They'll have the economy fixed before you finish that pint.

They're going to figure this out. You got this, England. So, Jack, what's the takeaway for our buddy Brits over in Great Britain? It's the economy, stupid. Yaddies, for any election, there are like so many issues at stake. So much you take into account. But in America, as in Britain, the typical voter mostly evaluates the head of state on the economy. And that's why the 44-day Liz Trust's Cabbage debacle reminds us of this quote.

It's the economy, stupid. That's what political advisor James Carville said back in 1992. There aren't many policies that can get a politician fired in record time. But finances are one of them. Because it's the economy, stupid. Now a word about our sponsor, Robin Hood. You can do just about anything from your... your phone, but some industries, they've just been slow to move.

The finance industry was slow to move from phone to computer and then from computer to app. Robin Hood wasn't. It's the Silicon Valley-based brokerage that's been updating app since it was born in 2015. Using the Robin Hood app for your stocks and crypto is almost as easy as downloading it. So you can invest to your pace on your terms by downloading the Robin Hood app. If you're not investing on Robin Hood yet, to get started, go to robin hood.com slash T-Boy and choose your free stock. That's Robinhood.com slash T-B-O-Y. supply. Stocks are offered by Robin Hood Financial LLC, member SIPC. Crypto offered through Robin Hood. All investments involve risk. By the way, this podcast is not owned by or part of Robin Hood,

and we are not employees of Robin Hood. For our third and final story before the weekend, Wrangler jeans just revealed a really interesting new marketing strategy. We call it the double denim. Ah, the devil denim. Yeties look, when it comes to jeans, people got opinions. Are you a Madewell girl or a Joe Jeans girl? Are you a Farity guy or a Levi's guy? Or do you not wear jeans because they give you the chills and that's totally fine too? No one's going to judge your khakis. Do you have that idea in the shower

neck? It's the only thing I can think of. Well, in the meantime yet he's denim. It is a divider. There's not much brand overlap in the jeans section of your closet. Yeah, you commit to one brand. If the jeans fit you must commit. Rangler. Rangler was founded in 1904 by a rodeo rider. Yeah. Wrangler feels like a four-truck.

sounds. That's the way to put it. It's owned today by Cantor Brands, a $2 billion publicly traded jeans giant. Like Wrangler jeans are the only jeans that come with a chassis. You know what I mean? It comes with like Debbie D. Farty. You like approach the jeans like you're approaching a horse. Like, oh, girl! So Jack and I were fascinated by Wrangler's brand new marketing strategy. We call it the double denim. Because it seems like Wrangler's marketing speaks two different languages. That's according to to Great Deep Dive Reporting for Mad Age. Okay, so let's sprinkle on some context here.

Jack, do you watch the show Yellowstone? Alex and I watched all four seasons. You did? Yeah, it's like the most boomer thing we did. That's impressive. How would you describe the show, Jack? We loved it. It's a show about Cowboys Out West, like, making trouble.

It's an NBC drama. Kevin Costner is the lead, but Wrangler jeans are in the top supporting. Aggressive product placement. Wow, Rangler. Rangler. It's in every episode. Yeah, they're wearing Rangler jeans. Like John Dutton, he didn't lasso a cow

An Abercrombie Jack. No, he left the Levi's at home. He's not wearing no San Francisco brand. So Wrangler is on cable TV. They're in the commercials too, not just product placement. And that positions them with like an old school Western lifestyle that boomers love. But if you open up Instagram, you're not seeing Wranglers on a cowboy. You're seeing them on like a musician.

Yeah, Leon Bridges, Georgia May Jagger. They're wearing Wrangler jeans, but they're strutting around in Soho. They're not hurting cattle. They're sporting Wranglers at a jazz club sipping like a non-alcoholic nagrony. You know what else they're wearing? Like a blazer. How do we see two completely different brands, but it's actually the same brand? How do we see this dichotomy, Jack?

It feels like a takeaway. So, Jack, what's the takeaway for our buddies over at Wrangler jeans? Digital marketing can be a masquerade. Yeties, a strange phenomenon is emerging thanks to digital marketing. Brands can have different faces, different messages, and different styles. on the different channels. Yeah, because different generations are now divided by different forms of media. On TikTok, you can target Gen Z with one message.

But then on Instagram, you can target millennials with another message. And then on cable TV, you can target boomers with yet another message. So Wrangler's product placements on cable TV, Jack? They scream classic rodeo. But Wrangler's influencer collaborations on Instagram? They signal like trendy party. Digital marketing, it lets you masquerade. One brand can wear many masks.

Jack, can you whip up the takeaways for us for the real Friday? Instead of talking about a great Tesla quarter, Elon talked about beating Apple in Saudi Arabia. Elon and Bezos are saying opposite things, and both could be right. For our second story, the Prime Minister of the United Kingdom is out because of her bungled tax plan. Because it's the economy, stupid. And our third and final story, Wrangler jeans are winning with boomers and the kids. Digital marketing, it can be a masquerade. Now, time for the best fact yet.

This one sent in by Jordan Gutatus over in lovely New York City. Yesterday wasn't just Thursday the New Friday and the Mollett World Championships. No, it was not. It was also the sports equinox. A rare day in the year in which all four major sports leagues are playing a game. Jack, we had the NFL, the NHL, the NBA, and Major League Baseball all in action. Horta Zalmanac, shortage of Bengay and icy hot. It's actually, there's only a 26th time in history that the

big four leagues have all had a game on the same day. Well, it's actually going to happen like a few more times this month, though, because of expanded schedules. So like you and I could watch a home run, a touchdown, a dunk, and a goalie loses front teeth all in one night. If only we had cable, we could, but we can't. Yeties, you look fantastic today. And remember, when you're in the shower, yell out to your friends. Hey, H-Y-H-T-O-Y. That was the best idea you're going to have today. If you know, you know. And before we go, congratulations. to Nicole and Tyler McLean getting married at 2 p.m. tomorrow in Bourbon, Missouri. And congratulations to Vanessa Dice, who just got engaged in San Francisco.

And Kate and Vig Rundas, happy second wedding anniversary down in Dallas. Congratulations to Sean and Charlene Lang, celebrating five years together in San Diego. And Lisa and Tristan Clark, happy five-year Annie over in Seattle. Happy sixth year anniversary to David Dorr and Megan Tuttle in Macon, Georgia. And we got a 16-year anniversary of Raina and Giuliani. in Plymouth, Minnesota. Happy 24th birthday to Katie Juarez in Sacramento. And Al McGrath turned 26th down in Houston.

Happy birthday to Elise Rakita in McKinney, Texas. And Michelle Cowan has a birthday and eats cake for two because she's having a baby. Double congrats. Amber Henderson, happy birthday in Jackson, Tennessee. And goosy, gooo, gooo, gooo, because Lando just turned nine months old in Houston, Texas. And Bruce Bowie has a birthday and is going to have his best year yet in Los Angeles. Happy birthday to Ivan Mendoza. celebrating in San Diego. And Alex Holman, turn in 25 over in Austin.

And happy birthday to Eric Gouwa in Saratoga, California. And finally, a happy birthday to Josh Rosenhek living on a sailboat in Marina del Rey, California. You can text him, HBD, at 908-365-0919. That's 908-365.0919. Standard rates apply. This is Jack. I own stock of Amazon and Nick and I both own stock of Apple and Robin Hood. Now a word about our sponsor, Robin Hood. Jack, rule number one about a kitchen renovation. Tell your friends about your kitchen renovation.

We know the cabinets are expensive. Well, in the pandemic, a lot of companies renovated their businesses, focusing on apps and digital. Robin Hood didn't have to. It was built digital from the start. Robin Hood's mobile first and intuitive design makes investing a little easier for every stage of your investing journey. Whether you want to trade options, ETFs, or stocks through Robin Hood Financial,

or buy some Bitcoin on Robin Hood crypto, you can do all that right on the Robin Hood app. If you're not investing on Robin Hood yet, to get started, go to robin hood.com slash T-boy and choose your free stock. That's Robinhood.com slash T-B-O-I. Limitations apply. Robin Hood Financial LLC, member SIPC, all investments involve risk. By the way, this podcast is not owned by or part of Robin Hood, and we are not employees of Robin Hood. Here's my pose. Yeah, but do it the other direction too.

Those are all good. A little more like towards the camera slightly. Yeah. Now do one more with like a totally different look. A totally different scare. Do one like something just bit you. Okay. That's good.