The Best One Yet - Introducing… The Best One Yet 🦩 Tesla’s avocado tree. Steinway’s self-playing piano. The Gap’s Return-on-Influencer.

Episode Date: April 25, 2022

We have taken the pod independent — and it’s a TBOY. The Snacks Daily podcast is now The Best One Yet (literally).For our 1st story, Tesla just enjoyed its best 3 months ever because it’s an avocado tree that’s now bearing fruit. The Gap used to rely on its Old Navy brand, but now it depends on Yeezy. And 169-year-old piano icon Steinway just decided to IPO… with a new self-playing piano.$TSLA $GPS$TSLA $GPSFollow us on Instagram, Twitter, and Tiktok: @tboypodWatch us on Youtube: https://www.youtube.com/channel/UCly3md3CbnTFJP83lVUEcjwWant a Shoutout on the pod? Fill out this form:https://forms.gle/6xmhTDP8Tp6CjTrZ9Got a Fact of the Day? We got a form for that too:https://forms.gle/ZYRQe4m7o4Rv4exR6Learn 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 Monday, April 25th. This is the best one yet. Today's pod is a T-B-O-I. It's a T-boy, baby. For our first story, two years ago, we told you Tesla was like a young avocado tree. Well, Jack and I've got an update.

Tesla's avocado tree, it's bearing some fruit. For our second story, the gap. The stock plummeted 18% on Friday like they lost a threat. Old Navy is out because it has a new R-O-I. For our third and final story. Steinway and Sons is IPO. after 169 years of making grand piano. It's the I-Piano, baby.

But the highlight of Steinway is a self-playing piano. Can you repeat that one? A self-playing ghost piano. One more time, baby. I can do it. But Snackers, before we hit that wonderful mix. Jack, 15 years ago, you and I, college roommates. Nick, 10 years ago, we started a company to make business news more digestible for our generation.

Three years ago, we sold that company Market Snacks to rock. And that became the Snacks Daily podcast that you've been indulging in daily. But here's the thing. Right now, Jack and I have got an entrepreneurial itch. An entrepreneurial itch that no dose of thytastrosol can cure. Snackers, we've got big news to share. We're taking this podcast independent. Nick and I are going back to our entrepreneurial roots. Today's pod is the best one yet. So we're rebranding the entire podcast as the best one yet. That's the name of the pot. And we're putting 100% of ourselves

into this podcast because we're going to be doing this podcast for the next 40 years. Jack, when Apple hits $10 trillion and Zuck Zucks Peloton, we'll be covering. When we're 70, the T-Boy Energy will sustain us. Now, the Robin Hood Snack's newsletter, our old baby, it's going to continue, but without us. This podcast will continue with just us. So you don't have to change a thing, Snackers. We'll still be with you every single day right here as usual. That's right.

For you, the Snackers, this pod will be the same, but better. Same stories, same takeaways, same 15 minutes, but better. Gwak? Still extra. New slamming salmon logo? Better. And starting today, you'll also get video versions of this pod on YouTube and social media every day. And weekly live chat so we can actually talk to you and answer your questions.

Next up, we're dropping the best merch yet. The T-Boy Kroonek isn't available yet, but it's top of our to-do-do. Now, here's what's different about this pod. We're not part of Robin Hood anymore, so Jack, we need to make some money. Yeah. So we're reintroducing ads. So we're thrilled to debut our exclusive sponsor, Robin Hood. It's a great fit.

So you'll hear Robin Hood ads in this pod. And like the rest of the podcast industry, we love our sponsors. But we'll cover Robin Hood news, just like we cover any other company's news. Same editorial treatment for all. Being a part of Robin Hood the last few years has been huge for us personally and for this podcast. So a big thank you to Robin Hood for all the support. Honestly, it's been a pretty wild journey. And it's pretty cool how they're supporting us in this news.

Oh, and one more thing. We got a new jingle. We got a new jingle. So get this. Two wrapping Snackers from Texas, they just happen to be fans of this podcast. They're actually professionals, though. So they whipped up some new ear candy for you. We're talking the first pod jingle with Grammy potential. Snackers, thank you for supporting us every single day. Oh, and by the way, the term Snackers, we're going to need to come up with a new name to call it. We're working on a new term for the Snackers. I work on a new term for that. So thank you for being a part of the best one. Now it's really a T-boy. Jack, let's hit our three stories.

We're back to here. Here comes, man, bigger and better. 15 years before this song, two boys from the Northeast met in the dawn. They had an idea to cause a cultural storm. It's the best one yet, but the best is a norm. Jack Nick, that's it. I don't even think they need to practice.

50% that's a fat tip. Tea Boy City on your at list. If you know, you know, because we're ready to go. We can't wait no more, so just start the show. Start the show. For our first story, Tesla's profits jump by. Get this. 7X last quarter.

But we need to update you about Tesla's young avocado tree. Okay, honestly, Jack, we could have done a story today unlike anything about Elon. It could have been all Elon. Okay, Elon found somebody to pay for his Twitter acquisition. There you go. You got to get the money. And his other company, the boring company?

Yeah, great name. Raised $5 billion. No, they didn't raise $5 billion. Good point. They hit a $5 billion valuation. But Jack and I were looking at our whiteboard and we said, you know what, we're going to cover Tesla's earnings. Because Tesla just had their best performance ever by far.

Tesla's revenues grew by how much from last year, please? They grew 81% in the last quarter because Tesla sold over 310,000 cars in just three months. Everyone else in the car business is like begging tech companies for their leftover computer chips. Hey, sir, can I have some more? Like the beanie babies of tech right now. Meanwhile, Elon has plenty of chips apparently. And that's important because he's not selling cars. He's selling computers that roll on wheels.

And the car companies are desperate. Meanwhile, Tesla opened up two new factories last quarter, in Austin and in Berlin. But here's what Jack and I find fascinating about this story. The most shocking part isn't the chips, isn't the car sales. It isn't the humanoid robot that Elon's working. Apparently, Tesla's working on. It's a real thing. It's the profits.

Profits jumped at Tesla by seven times compared to the same quarter. quarter last year. You can like smell the burned vegan rubber jack. And that was 3.3 billion of profits in just three months for Tesla. We repeat. That is seven times more profits from last year. Now, the Tesla Model Y has become Tesla's profit puppet. Yes, it has. And we got to this podcast studio in a Tesla model Y. Full disclosure. And they raised the price of the model Y, this SUV-ish electric car, by 30% over the past year. And people are still buying it. Yeah. I'm still buying it. Inflation's not a concern for Model Y buyers. It was a little frustrating.

It feels, though, based on all this news, that we need to update our Tesla avocado tree analogy. Jack, that's a perfect transition point. So, Jack, what's the takeaway for our buddies over Tesla? Tesla is a mature avocado tree. It's bearing fruit. Okay, our favorite pod from 2020, Jack, it was the Tesla is a young avocado tree pod. Tesla was producing a tiny fraction as many cars as Ford and General. motors were, but Tesla was worth more than Ford and General Motors combined. And that's why you and I

said in 2020, Tesla is a young avocado tree. We had to find the analogy and Tesla is a young avocado tree. Was that analogy? Yeah. It wasn't bearing much fruit, but Tesla was young. And boy, did it have potential. Boy, did that Tesla tree have potential. Well, today, Tesla is not some young avocado tree anymore. Tesla is bearing fruit. Meanwhile, General Motors and Ford, they were old orange trees. They had tons of fruit, but they were past their peak. Well, now Tesla is more profitable than Ford or GM. Because Tesla is a mature avocado tree. It's barren fruit. It's bearing fruit. Wait. Is avocado a fruit? Oh, God. A correction of this pod. Read out of the five. For our second story, the gap, the gap stock.

just plummeted by 18%. Because Old Navy is out. Influencing is it. Okay, Gath is the official uniform of... It's 1996 and my mom made me wear this. C-A-T. Jack, no Gap hoodie. No cheeses. The gap to me actually means 16 husky jeans.

Not a great chapter. No one's judging. The gap is already a publicly traded stock worth $5 billion, which is about a third of a lift. But the gap just went full slim fit on all of us. The stock sadly fell 18% on Friday because of some sad news. Okay, Jack, something is wrong with the Gap's hero brand.

You might not realize it, but Old Navy historically has been a majority of sales at the Gap. The Gap is really an Old Navy company because the Gap owns, they own Banana Republic. They got Athleta and they got the Gap. But Old Navy is the favorite child. Old Navy is the favorite child. Gap's only driver of growth the past several years has been that $7 American flag t-shirt at Old Navy. Classic, low price, high growth. Low price.

I grow. But the Gap just went through a shocking reversal. Old Navy sales fell last quarter while the Gap and athletic grew last quarter. It got so bad that the Gap actually just fired Old Navy's CEO. It's pretty bad. And the Old Navy CEO is out because in the past year, the Gap's strengths have transformed. Transform from Old Navy to influencers. For instance, look at the new Kanye line at the Gap.

Can we talk about the new Kanye line, Jack? An $80-easy hoodie. Thick cotton. It's a thick on. For those Chytown wind chills. It is a thick guy. My brother has one. I wore it in like 14 degree rather.

I was still warm. I was Schifzen. I was Schifzen. And the Yeezy hoodie was the fastest and bestselling item in Gap's entire history. Okay, that's the easy line. Jack, can we talk about the new Simone Biles deal? Simone Biles was sponsored by Nike. The dream of every athlete is to be sponsored like Michael Jordan by Nike.

Okay, that's the dream. But Simone Biles quit on Nike last year. We've never seen this before. Precedented. Because she went into the arms of Athleta. Yeah. The Gap's at Leisure brand. Just last week, Simone Biles the gymnast, launched her own activeware line with Athleta. And so did Alicia Keys actually. Alicia Keys. We're talking a New York-born singer-songwriter

legend with the Grammys. Because playing the piano is a sweat activity out of now. She now has an athleisure line. This jumpsuits on fire! At the Gaps Athleta. So, Jack, what's the takeaway for our buddies? Will and dealing over at the GA. We have a new definition of ROI. It's return on influencer. Okay, Jack and I are not talking about return on investment.

We're talking about return on influence. The Gap's numbers are proving how influencer investments can pay off in big sales. Get this. You're going to sit down, stand up, sit back down again. One half of the Gap's new customers are driven by inspirational marketing like those influencer deals. When Simone Bile starts posting about Athleta, that led to significant pickup and store sales according to the CEO.

half of their new customers, these kind of things. Not Instagram ads, not 60% off deals like Jay Crew, not window shopping at the mall. No. Influencers with their own gap lines, that's what's driving growth at the gap. So Jack, Old Navy, the one Gap brand that is not relying on influencers right now. They're on the outs. The Gap and Athleta are loving the RLI in the meantime. Return on influencer.

Now a word from our sponsor, Robin Hood. Okay, so Jack and I got into the news business. with our previous company. Markets snacks. Our goal was basically to democratize financial news for our generation. Cut the jargon. Talk about the profit puppy. So when we first connected with Robinhood, there was a chemistry there. We were doing for financial news what Robin Hood was doing for the financial system. Robin Hood was democratizing finance for all and it started by eliminating trading commissions and building a beautiful app. Remember, we had the same color green. The green was destiny. Destiny, absolutely. So we sold market snacks to Robin Hood and we launched

Robin Hood Snacks. The equivalent of proposing, getting married, and building a family together in just three years. Much more to come on why we're thrilled that Robin Hood is our exclusive sponsor. If you're not investing in Robin Hood yet to get started, you can go to robin hood.com slash t-boy and choose a free stock. That's robin hood.com slash T-B-O-Y. Certain limitations apply for a list of other fees. View the fee schedule at RBNHD.co slash fees. All investments involve risk. Robin Hood Financial LLC, member SIPC. By the way, Robin Hood, no longer a fee. affiliated with us or the podcast. For our third and final story of the best one yet,

this feels so good to say, by the way. Doesn't it? This feels good to say. TBO what? We'll get used to this. But our third and final story, Steinway Pianos, it is the Cadillac of Grand Pianos. And Steinway is IPOing as they balance the history with the future.

Jack, can we hot tub time machine this thing? Can you take us back to 1853? German immigrant Heinrich Engelhard Steinvei. He made the... The first Steinway piano at Verrick Street in New York City. Okay. The American dream, he got his sons involved. And they're still making them today at a factory in Astoria Queens and Hamburg, Germany.

Ironically, nobody in New York City has room for a boat-sized piano. Yeah, these things are huge. Each piano is roughly the size of like an East Village two bedroom. But in the year, without IPOs this year, Steinway just filed to IPO. Kind of a shocker. Honestly, Jack and I have not jumped into IPO paperwork in months. They're trying to go from concert. stage to stock exchange.

It is kind of a smallish company, Jack, right? Less than a billion of annual sales, but it is profitable. Now, we like investing in industries of the future, which is why our portfolios are down significantly. That's why Steinway's obsession with history is a little concerning to us. So Jack and I jumped in T-Boy style to the Steinway IPO paperwork. And Jack, can you run some numbers for us over there? Okay, we control F to this thing.

We did. History, historic, and historically. Those three words. mentioned 49 times in Steinway's paperwork. History, historic, and historically, in an IPO document. Why? Because Steinway's past is today's prestige. Okay, Jack, you were a big fan of the picture of the green book. It's a good book. Oh, sorry, it's a good movie. It got Best Picture Award. Yes. And the main character refused to play the piano on anything but a Steinway. Jack, Billy Joel has played 80 concerts at Madison Square Garden. 80 and counting. And every time he played on a Steinway. Jack, Lady Gaga. She's Gaga.

for Steinway. Get this. According to Steinway, 97% of pro pianists they play on a Steinway. That's power you can't buy. That translates into pricing power. Steinway sells their grand pianos from $60,000 on the low end. Okay. To $2.4 million on the high end. Two and a half million bucks for a piano. Diamond encrusted, apparently. You'll learn how to play hot cross buns on that kind of machine. So Jack, what's the takeaway for our buddies over at Steinway? History or the future. Steinway. thinks they can have both. Okay, can we talk about Steinway's latest product, please? Spirio, it is a self-playing piano.

They have a self-playing piano. Now, this isn't some honky-tong, western saloon plaything. We're talking world-class sound. There's no human being, though, who plays the piano. Now, you actually, you can play it yourself. But if you don't want to, it'll play your favorite playlist for you.

It is like the techiest development in piano since Beethoven's fifth. And it doesn't just self-play, like the songs you tell it to. No. It connects to the cloud for something really cool. This new Steinway piano, it lets you instantly stream a real-life concert wherever your piano is. Elton John, Sir Elton John, can be playing a live concert in London at the Royal Albert Hall.

And your piano, your spirial. Your piano. We'll play the same keys that Elton is striking at the same moment, thanks to the cloud. Simultaneously. You can have an Elton John concert in your living room if you have $2.4 million. So this is the contrast with Steinway. On the one hand, it is synonymous with history. But they're trying to build the future, too, with a self-playing piano.

Jack, can you whip up the T-boy takeaways for us over there? Tesla's first quarter profits jumped by 7X. Tesla just became a mature avocado tree. It's barren fruit. For our second story, Old Navy, it's not growing anymore. Athleta and the Gap, meanwhile? They're loving the ROI. Return on Influencer.

For our third and final story, Steinway is finally IPOing after all. 169 years. Steinway. It's pianoing the history and the future. One a penny, two a penny, hot crossed buns. Now, time for the best fact yet. This one sent in from Savannah Westwood from lovely Orlando, Florida. Okay, trivia. The first product ever to be featured on the cover of Time magazine. This is a good trivia. This is a good trivia, Jets. Coca-Cola. It's Coca-Cola. Actually, this is a wild story because the CEO of Coca-Cola was supposed to be on the cover in 1950. of Time magazine. But instead, he realized the iconic Coca-Cola bottle, which was a glass bottle at the time, was more important than any other part of the company. The bottle of Coke was more important than him, the CEO. I'm sure Elon would do the same thing. It would be classic Elon. Is that the pot? That's the pod. This is a new pod. TVO-I. But it's the same pot as the old pod. But better. And different. If you haven't yet, follow us at T-Boy Pod on Instagram and Twitter.

T-boy Pod is like our new handle across everything. And you can watch. Watch us on YouTube now. There's a link in the episode description to check out our new YouTube page. And if you want to grow the pod, just ask a friend, H-Y-H-Y-H-Y-T-B-O-Y. H-Y-H-Y-H-Y-T-O-I. Have you had your, the best one yet? Thank you so much for being on this first pod with us. If you know, now you know, there we go! We'll see you tomorrow.

And before we go, happy birthday to Madison Osborne over in Temple, Texas. And Kimberly Ruiz in San Diego. And Jeff Haynes, happy birthday. in College Station. Happy birthday, Molly Youngens in Emerson, New Jersey. And Amanda Pierce, happy birthday in Columbia, Maryland. Happy 29th to Zach Tenrick in Nashville, Tennessee. Norin Nanji turning 30 over at Google. Happy birthday to Sampson in Sugarland, Texas. And Morgan Beckwith, happy birthday down in Austin. This legendary listener went from classically trained ballerina to tech executive. And Jackson and Faith, Jack, Jackson and Faith, they just got an

anniversary down in South Carolina. And to anyone else celebrating something today, make it a T-Bah. Celebrate the wins. This is Jack, Nick on stock of Apple, and we both own stock of Peloton and Twitter. We still do. Now, a word from our sponsor, Robin Hood. So four years ago, we sold our company, and we joined Robin Hood. A lot of people asked, when did we decide that selling was the right move? So it was actually in our meeting with the co-founders, that's what sold us. Vlad and Bejou, also former roommates, also met in college. Also, we're hanging out in New York City's village after the financial crisis. And they just figured out how the financial system works.

So Vlad and Bejou saw that Wall Street bigwigs, they were getting their fees waived. And they figured out a way to waive commissions for everyone else, too. So we saw a big, bold vision and decided to join these guys. That's where we spent the last three years until now. It makes sense now that Robin Hood would sponsor our newly independent podcast. If you're not investing in Robin Hood yet, you can get started by going to robin hood.com slash T-boy choosing a free stock. That's Robinhood.com slash T-B-O-Y.

Certain limitations apply for a list of other fees. View the fee schedule at rbnhd.co slash fees. All investments involve risk. Robin Hood Financial LLC member SIPC. By the way, Robin Hood is no longer affiliated with us or this podcast. Oh, where?