The Best One Yet - 🥞 “Less drinking, less eating” — 24-hour restaurants decline. America’s $109B Chip-vestment. Waymo’s self-driving UberEats.

Episode Date: April 9, 2024

The number of 24-Hour Restaurants is down 18% since the pandemic — Zillennials no/low-alcohol Dry Wave has ripple effects that are taking down the 24/7 diner.Samsung and TSMC are investing $109B into Texas and Arizona to build Made in the USA computer chips — Nothing gets an economy going like an arms race. Google and Uber just partnered on self-driving food delivery — Waymo robo-taxis delivering dumplings changes the math on self-driving car.And the new status symbol among schoolchildren? Pencils. It’s part of the “Analog Renaissance.” But we want to know: Pencils or Pens. What’s your scribe? Vote at tboypod on instagram. Want to watch our self-driving robotaxi episode: https://www.youtube.com/watch?v=CFVA4NWHjYM$GOOG $UBER $TSMSubscribe to the best newsletter yet: tboypod.com/newsletterWant merch, a shoutout, or got TheBestFactYet? Go to: www.tboypod.comFollow The Best One Yet on Instagram, Twitter, and Tiktok: @tboypodAnd now watch us on YouTube Hosted on Acast. See acast.com/privacy for more information.

This is Nick. This is Jack. It's Tuesday, Tea Boy, Tuesday, April 9th. And today's pod, it is the best one yet. It's a team boy. The top three pop business news stories you need to know today. Jack, I'm sorry, but to quote Manfred, man, were you blinded by the light? Nick, I experienced three minutes of totality.

It's one of the coolest experience we've ever experienced. All right, walk us through it, baby. What kind of stuff were we seen? So I made special glasses so that Wilder could see. because like it's awkward to tell my son to look up at the sun, you know? You don't want the pod sun blinded, man. We can't have that happen. So he was wearing this like dinner plate cut out glasses thing.

And the 10 minutes leading up to totality, things started getting dark. The birds started freaking out. Mosquitoes came out of nowhere. And then when totality hit, I looked up in the sky and it looked like the ring of Sauron up there. It was so cool. Yeah, Eddie, the next solar eclipse isn't until 2044. We got 20 years to prepare for this thing. I'm going to be there for it.

Because I need to see this thing again, man. You, me, Montana, 244. By the way, I set up my iPhone, like a classic YouTuber creator that I am with your neck. We time-lapse videoed the whole eclipse. So if you want to see totality in eight seconds, check out T-Boy Pod on Instagram. In the meantime, Jack, three fantastic stories. What do we got, man? For our first story, two companies just announced $100 billion of investments in Texas and Arizona.

Because the hot new job trend in America is chipmaker. computer chipmaker. For our second story, there's one type of restaurant struggling right now. The 24-hour restaurant. Yeah, if you couldn't find a late night spot for your 3 a.m. pancakes, we'll tell you why. And our third and final story is Google and Uber. Google and Uber just partnered up for self-driving food delivery. Your Waymo is waiting outside, but instead of a driver, it's got dumplings.

But, Nick, before we hit that wonderful mix of stories. Fantastic mix of stories. I'm so glad you're not blinded right now. I know, dude, it feels like eclipse plus one. That's what I'm going to refer to all days from now on. Total eclipse of the heart. But yet he's back to the pot. In school, you always have to think about what's the cool kid's status symbol. When Jack and I were roaming the elementary school hallways,

Lisa Frank Notebooks, X-Men lunch boxes, and your mega yo-yo's with the brain, that was the status symbol. If you can walk the dog, you're a cool kid. If you know, you know. You can sit at our lunch table. But the newest status symbol in this economy? Pencils. Penciles. Yeties get this. According to the Wall Street Journal, there is a surge in demand from kids for pencils.

That's right. Imports of pencils to the United States are up 17% in the past decade. Sales of pencils are expected to grow 8% this year. Now, what is this? It's all part of the Analog Renaissance. Kids, they're sick of the digital deluge out there. You can feel it. So, fifth graders are trading pencils in the schoolyard recess like it's contraband. Jack, I hear one pencils now worth three areas. head's a Kit Kat and two, count them two boxes of nerds. The number two pencil is a number one must have right now.

Graphite, it's the new gold, baby. So kids are wondering, what was life like before the internet? How were things done before screen? So those kids are trading iPhones for records and laptops for typewriters. Wait until they discover the mechanical pencil. Remember with the 0.5 millimeter refillable lead thingies? I always lost those little lead pieces, Jack. I mean, honest, Jack and I, we prefer the classic dicks and tight companies.

Andoroga number two with the pink eraser and the green metal tip. Or how about those pencil sharpeners that were drilled to the wall or your classroom? Nothing like those shavings, Jack. Nothing tastes as good as those shavings. You could really like register it on the Richter scale. But yet is Jack and I are thinking this brings up a big question this pencil demand surge. Do you prefer pencil or pen? Because a nice ballpoint pen flows super smooth.

Oh, it's like a skippy peanut butter of pens. Well put Jack, but the light scrape of a sharpened pencil. pencil tip on the paper, that is like figure skating. The lefties hate bow. Because ink and graphite, they both stay in your pot. So yeah, it is Jack and I want to know for T-Boy Tuesday. Here's your question. Pencil or pen.

Pencil or pen, which do you prefer? Vote on Instagram at T-boy Pod. And if you're a lefty, you can abstain. No judgments. Jack, let's hit our three stories. 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, 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. For our first story. The two biggest job makers in America right now?

They're not American. Samsung and TSM are taking over the U.S. chip industry. And guess what? Uncle Sam is actually on board. All right, Jack, before we begin the story, I'm going to share a number with you. Does 15 hours and 10 minutes mean anything to you? I'll see, there are really long workday or the amount of time it takes to drive to Lake Tahoe when the traffic's bad. Oh, that's like a Friday to talk.

Actually, Jack, 15 hours and 10 minutes. That is the flight time from Dallas, Texas to Seoul, South Korea. That is a long flight, man. You've got to watch a lot of movies. Interesting lead into this story because Texas and Arizona are half a world away. from South Korea and Taiwan. You can watch all of Game of Thrones on that flight from Texas to South Korea. And yet, despite that tremendous distance,

South Korea and Taiwan's biggest companies are making their biggest investments ever in the states of Texas and Arizona. Samsung, known for their smartphones and TVs, also happens to be the biggest chipmaker in the world. Samsung just announced a $44 billion investment in Taylor, Texas, which is just outside Austin. Just outside Austin, which will bring Samsung's direct and indirect job

creation to Texas about 100,000 jobs, right, Jack? That's a lot of jobs. Oh, excuse the South Korean PR team for saying, everything's bigger in Texas. But that's not even the biggest one. The number two company in chipmaking is making an even bigger investment in the United States. Taiwan's semiconductor manufacturing corp TSM, come on down. What do you want to share with our fellow Americans? This is the biggest company on the island of Taiwan, and it's the number two chipmaker in the world. And yesterday, the announcement, a $65 billion investment into Arizona. So, Jack, let's whip out the whiteboard and add this up.

Samsung and TSM are dropping $109 billion investments in America. Can you sprinkle on some context of that number, please? Now, they're setting up in Texas and Arizona, partly because that's where their customers are here in the United States. Their biggest customers are at the U.S. tech companies. But Jack, maybe you didn't hear me. $109 billion. Can you sprinkle on some context for us, please?

Okay. Without much money, these companies could have bought all of Starbucks. all of Airbnb or all of Citibank. Because $109 billion is bigger than Starbucks or Airbnb or Citibank the bank. In terms of the market cap, yeah, it's a huge number. But that then leads to the big question, Jack. Why are these companies spending that much money in Texas and Arizona? Because Uncle Sam is giving each of these tech companies $6.5 billion to build these chip factories.

Get this best. For every $10 that these companies invest in America, our government is offering a $1 grant and another $1 loan. Why is the government giving that cash to these private companies? Because Samsung and TSM's $109 billion investment could create 200,000 jobs. That's half the population of Wyoming. And because chips will be made in America, which we want. But Jack, I'm sorry.

We almost forgot about our buddies over at Intel, didn't we? What are the Intel guys doing? Intel's making the biggest investment of all from a single company. $100 billion to build factories in Ohio. Intel is inside Ohio, Jack. So Texas, Arizona, and Ohio, they're basically the Doritos, Fritos, and Cheetos of U.S. chipmaking. Jack, rip open that bag and let's stick a hand in. So what's the takeaway for our chipmaking buddy is over in America?

Nothing sets an economy running like an arms race. Now, yet, he's full disclosure. Jack and I, we were only alive for like the final few seconds of the Cold War. But we did both study the history while we were in college. And the geopolitical battle for computer chips that's happening now, feel similar to the Cold War. Back then, the U.S. military production drove our economy to outpace

the old Soviet Union. Today, it's tech and science production that could do the same thing for the United States as we compete with China. Yeah, like, instead of putting a man on the moon, we're putting an advanced chip in an advanced toilet. That's what we're doing now, but it's basically the same idea.

Now, the White House announced yesterday their goal is to have 20% of the world's advanced chip making happen in the United States by 2030. And that is why both Democrats and Republicans came together, Kumbaya, to spend $53 billion in government money to make the Chips and Science Act happen. And since the U.S. government is offering billions and incentives, companies are spending more billions to build factories and jobs here.

Because nothing sets an economy running like an arms race. For our second story, one part of the restaurant industry is suffering right now. And that part is the 24-hour restaurant. The 24-7 all-day diner hasn't recovered from the pandemic, and we found three reasons why. Yeties, wherever you are, you don't matter what you're doing, however you feel, there is one truth about America and Jack, what is that truth? If it's a waffle house, it's open 24 hours a day. If it is 333 in the morning, yeah, you can get a pecan waffle at the waffle house.

They don't even have keys because the doors are never locked. They're always open. But yeties, here's the news. 24-hour restaurants are now, sad to say, an endangered species. Diner's drive-ins and dives. They're open 24 hours a day, but now they're not, actually. Guy Fieri and his frosted tips are freaking out right now, Jay. According to the data, late-night dining is one segment of the restaurant industry that hasn't recovered from the pandemic. Get this, since 2020, the number of 24-hour open restaurants nationwide has fallen by 18%.

In Los Angeles, the number of 24-hour restaurants is down 35% since the pandemic. But yeties, here's the shocking thing. It's not just restaurants that aren't open 24 hours anymore, is it, Jack? Walmarts that were open 24-7 before the pandemic, they're not open 24-7 anymore. Jack, you know the fitness chain that's called 24-hour fitness? That's the name of the chain. Yeah. Apparently a bunch of them aren't open 24 hours anymore.

They're like 18 hours. They're like the dollar stores. Their name is a lie at this point. Oh, and Jack, remember on the Upper West Side, Big Nix, the pizza place we used to go to? They were only open 23 hours. They took one hour to just chill. still open 23 hours? I don't think they're in business anymore. But here's what Jack and I found fascinating about this story. We wanted to know why are 24-7 restaurants suddenly going away?

We found three shifts that have happened since the pandemic. Well, the first shift since the pandemic, it's that costs are up. The price of just about every food is up significantly due to inflation. Besties, it's harder to pull a profit off that 3 a.m. frittata when the cost of those eggs are inflated. The second driver, there just isn't enough labor. It was hard to get away. for like the midday shift, it's harder to get a waiter for the midnight shift. Since the pandemic, the biggest challenge for restaurants is staffing and late night staffing is the toughest of all. Added up yet, and those two shifts have made it way more expensive to supply 3 a.m.

patty melts to a really hungry crowd after an Almond's Brothers concert. But the last reason 24-7 restaurants are going away isn't about supply. It's about demand. Although, Jack, I think I still have a hangover from like a 1 a.m. Friday two weeks ago. We had the only eye hop in Manhattan on our block that. you and I are a romance out. That is still a 24-hour institution, Jack. So, Jack, what's the takeaway for all our buddies over in the 24-hour restaurant business?

The dry wave is having ripple effects. Yet he's the third reason for this big shift. It's mental mindfulness. Young people just aren't partying like they used to these days. According to Gallup, 62% of adults under 35 say they drink. That's down from 72% 20 years ago. And it's not just alcohol. It's the alcoholic.

Or rather, it's the lack of alcohol in the economy. Because here's the truth. Late night diners in 24-hour restaurants, they depended on late-night partiers who wanted an omelet at 3 a.m. They're picking back on those partiers who were pretty hungry. But late night, it's just not what Gen Z and millennials are into these days. According to Yelp, the percentage of dinner reservations before 5 p.m. has doubled since 2019.

Because people aren't bragging that they drank eight drinks last night. They're bragging that they slept eight hours last night. And that dry wave, it's having ripple effects. Now a quick word from our sponsor. For our third and final story, Google and Uber, just partnered up. Forget this. Self-driving robo food delivery. And we're excited because food delivery makes RoboTaxi math twice as good.

Yeah, he's back in March. Jack and I did what became, honestly, Jack, our biggest episode ever. We called it the self-driving podcast. because we recorded an entire episode from the backseat of a Waymo Robotaxie. Yadis, we'll drop the link in today's episode description, but you can vicariously experience an entire self-driving taxi through that podcast episode we did. And there's no driver behind the wheel.

It was wild. Now, interestingly, the car that we chose, the Robotaxy service that we did was Waymo, the self-driving car division of Google. But since that episode last month, Waymo has been busy. They expanded their service to Los Angeles, and now they're testing it out in our... Austin, Texas. Now, Uber used to be a top developer of self-driving cars. Uber's goal was to turn

their entire fleet into robotaxies. But they shut that whole division down six years ago after hitting and killing a bicyclist. But Jack, what does Uber have that Google doesn't have when it comes to this industry? Uber has Uber Eats, which is the number two largest food delivery app out there. Which leads to the news, Google and Uber, two rivals in the tech industry, are partnering up for what the other one has that the other one wants. Waymo wants food delivery and Uber wants self-driving cars, so they're partnering up to do it. So Uber Eats will now be delivered in Waymo self-driving robotaxies. That's right. Your imagination is correct. We are talking about self-driving patty.

What's that? Jack? There's up for, oh my God. Now, this service, self-driving food delivery, it begins in Phoenix, Arizona. And no, you don't have to tip the driver because there is no. driver. But yet is Jack and I found this story fascinating because you know what this opens the door to exactly? Are you thinking what I'm thinking? A vertically integrated, fully automated, food

to face experience. Follow us in this one yet is because a Robotaxy food delivery is the final piece in this existential robotic puzzle. Because today you can order food via a delivery app. Which is basically a robot order taker. And today, restaurants have Robo Kitchens

that can cook it automated. We just did a story on Sweet Green having a robo restaurant. No people, all robots. And now with this news, the food can be delivered by a self-driving taxi cab. Which is literally a robo delivery guy. Now, Yeties, right now with this Uber eats a Waymo deal, a person is going to bring the food from the restaurant to the trunk of the Waymo. And then you're going to have to put on a cute top and some slippers to run outside, open the trunk of the Waymo and grab yourself driving pad tie so you can enjoy dinner. The trunk opens with the Waymo app from your phone. But if you add it up, all the hardest tech pieces are there to get that falafel from the friar to your face without a person

involved. A vertically integrated, fully automated food to face experience. Yeah, the only thing that touched that falafel was Siri. So, Jack, what's the takeaway for our buddies over at Google and Uber? Food delivery makes the Robotaxy math twice as good. Now, yet is Jack and I ended that special Waymo self-driving episode with a question? How could such an expensive car ever make money. The car is so expensive. It has 29 cameras, six radar sensors, five LIDAR sensors, bring in the total price of the car to $270,000. There's no driver to pay in a robotaxie, but a $270,000 car filled with technology, that's an expensive car to make money on Jack. Our first instinct was that it would never be profitable as a robo taxi. But then we

crunch the numbers. Besties, here's the Robotaxy map. If this Waymo Robotaxie collects a conservative, 20 bucks an hour and runs 24-7, it'll pay for itself in two years. But if it's only giving people rides, there might not be enough demand to keep it operating 24-7, like your math depends on. Well, that is why the food delivery changes the math on the Robotaxi, because food delivery basically doubles the number of customers that a Waymo Robotaxe can have. Because Uber's business is basically half rides and half food delivery today. So without food delivery, a Waymo Robotaxi,

could maybe pay for itself within two years. But with food delivery also, a Waymo Robotaxie definitely could. Because Yeti's, this deal makes the math for Robotaxies twice as good. Jack, could you whip up the takeoist for us for T-Boy Tuesday? Samsung and TSM are building some of the biggest chip factories ever in Texas and Arizona. Nothing gets an economy running quite like an arms race. For our second story, it's 24-hour restaurants. They've now become an endangered species.

The dry wave. is having ripple effects. And our third and final story, Waymo partnered with Uber Eats, to deliver pad tie without a human driver. Food delivery, it makes the Robotaxi math twice as good. But Yeties, this pod's not over yet. Here's what else you need to know today. First, President Biden has taken another stab at student loan forgiveness and here is the new latest proposal. It could erase up to $20,000 in accrued interest for those enrolled in income-driven repayment plans.

So this new plan could actually benefit up to 25 million student borrowers. But the last time Biden tried to do this, the Supreme Court blocked it. So this proposal is trying again. And second, Jamie Diamond, Jamie, the CEO of J.P. Morgan, America's biggest bank, just wrote his annual shareholder letter. It was more like a state of the union speech because he was celebrating American leadership in democracy and capitalism, among other things. And our buddy Jamie says that he thinks AI is quote-unquote extraordinary and is a technology as big. as steam or electricity. He also cautions that the world is dangerous geopolitically,

maybe more dangerous than ever since World War II, and then investors might be too bullish right now. And finally, the NCAA March Madness finals are done. March Madness is officially over after your bracket died three weeks ago. On the women's side, South Carolina Gamecocks beat Iowa to cap their undefeated season and end Caitlin Clark's quest for a national championship. And finally, on the men's side, grab some vineyard vines, because Yukon just beat Purdue in the men's championship.

The Yukon Huskies are national champions once again. Now, time for the best fact yet, but this one is a correction. Actually, journalistically, Jack, I think this is an apology what we're doing right now. Yeah. So many people took issue with our misstating of the family members of Bluey. Eddie's yesterday, Jack and I did a story on Bluey, the kids cartoon show on Disney Plus that brings in $2 billion a year in revenues. We got some of the names wrong from the family members.

So we should clarify, Bandit is Bluey's dad, Chili is Bluey's mom, bingo is Bluey's sister, and Bluey is Bluey is Bluey, the Blue Healer Dog. So thank you to Yeti's Aria and Orange County, KD R, James B, Matt, the man, Michelle J. Armando, and Junjun on YouTube. And dozens of others who probably thought it but didn't send us a correction. Okay, Jack and I were just testing you, and you all just passed the test. Except those of you who didn't write in for the correction. We expect more of you. look fantastic for T-Boy Tuesday, but remember Jack and I want to know, and we want you to vote on Instagram about this.

Pencil or pen? Which are you scrabing with? The analog renaissance is back, and Jack and I want to know, pencil or pen, who you got. Hit us up at T-BoyPod to vote on your scrab of choice. If you know, you know. Here we go, a happy birthday to legendary Yeti, Savannah Westwood, who's celebrating in Orlando, Florida. She's getting a Michelin-Star dinner tonight of King Slammin Salmon Nagiri. And Savannah, being a legendary best fact yet, submitter also pointed out that today is National Unicorn Day. And happy birthday to Matt Golden in Westchester, New York, who's

crushing it in business school right now. And happy birthday to Miguel Stevenson, turning 15 in Somerville, South Carolina, celebrating with his Airsoft gun. Happy birthday to Ian Histlop in Cambridge Mass. And Stephen Toe has got a birthday in Houston, Texas. Happy birthday. And congratulations to Angela and Ariel down in Panama who signed their first safe agreement, which means their first venture capital investment. And before we go, a special happy birthday to my pod son, Jack's real son, Wilder Gray, Kravici Kramer. Wilder, your smile is as big as your adventurousness.

And I hope you know that you are the lightning McQueen of kids. Have a fantastic celebration, Wilder. We're all pumped for you. Celebrate this. This is Jack. Nick and I both own stock of Airbnb and Apple. Nothing like those shavans, Jack. Nothing tastes as good as those shavings.