The Best One Yet - 🩳 “Nike + Skims” — Nike’s deal with Kim Kardashian. Protector’s bodyguard app. Fire Trucks' oligopoly.

Episode Date: February 19, 2025

Nike just partnered with Skims… but has Kim stretched Skims too far?Protector just launched an Uber for Bodyguards… and 1 video hack made it go viral.The Fire Truck industry has been taken over by Private Equity… but its stock tripled while fires fell?The best Black History Month story yet?... Lonnie Johnson’s Super Soaker.$NKE $UBER $SPYWant more business storytelling from us? Check out the latest episode of our new weekly deepdive show: The untold origin story of… The Patagonia Fleece 🐑Subscribe to The Best Idea Yet: Wondery.fm/TheBestIdeaYetLinks to listen.“The Best Idea Yet”: The untold origin stories of the products you’re obsessed with — From the McDonald’s Happy Meal to Birkenstock’s sandal to Nintendo’s Susper Mario Brothers to Sriracha. New 45-minute episodes drop weekly.—-----------------------------------------------------Subscribe to our new (2nd) show… The Best Idea Yet: Wondery.fm/TheBestIdeaYetLinksEpisodes drop weekly. It’s The Best Idea Yet.GET ON THE POD: Submit a shoutout or fact: https://tboypod.com/shoutouts FOR MORE NICK & JACK: Newsletter: https://tboypod.com/newsletter Connect with Nick: https://www.linkedin.com/in/nicolas-martell/ Connect with Jack: https://www.linkedin.com/in/jack-crivici-kramer/ SOCIALS:Instagram: https://www.instagram.com/tboypod TikTok: https://www.tiktok.com/@tboypodYouTube: https://www.youtube.com/@tboypod Anything else: https://tboypod.com/ Subscribe to our new (2nd) show… The Best Idea Yet: Wondery.fm/TheBestIdeaYetLinksEpisodes drop weekly. It’s The Best Idea Yet. Hosted on Acast. See acast.com/privacy for more information.

This is Nick. This is Jack. It's Wednesday, Saviche Wednesday, February 19th. 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. All right, Jack, four-day work week. I think that means Wednesday's the newer Thursday. Thursday's the new Friday. Friday's still real Friday? All of those were more than halfway through the week, which is fantastic. Wednesday? It's the real Friday. Jack, three stories for today's show. What do we got on the pod, man? For our first story, Protector just launched the Uber for Bodyguards, and one video made it go viral. You can now get your own secret service detail for your next Bachelorette party. For our second story, Nike stock surged 5% yesterday on a collab with King Kardashian Skims. And get this, Nike Skims is Nike's first new brand since Air Jordan. And our third and final story is the fire truck industry. Because it's now basically controlled by one business. There is a fire truck stock.

Fire truck stock. So Jack and I got to ask, if fires have fallen by half, why has this fire truck stock popped? But Yeties, before we hit that wonderful mix of stories. Fantastic mix of stories for the new Friday, Jack. It's February. And the best way we think to enjoy Black History Month, it's to discover, find, and share the business stories of Black History Month. And our favorite story right now is the Super Soaker. That's right.

The Super Soaker Water Gun is a billion dollar break. Nick and I have been doing research on how the Super Soaker actually began. Yes, we did. And it's way deeper than a plastic toy thing for water fights. That's right, because inventor Lonnie Johnson grew up in the most segregated state in the country. Lonnie's science teacher back in the 60s even told him he couldn't become an inventor. Simply because of his skin color. So in 1968, at the age of 18 years old, Lonnie Johnson showed up to the University of Alabama all alone for a science fair.

Lonnie wasn't treated too warmly when he arrived. but he ended up winning that very science fair. And for years after that initial triumph, Lonnie was still told that the color of his skin was an issue. Even while he designed rockets for NASA, at NASA. Yeah, he was a rocket scientist, but ultimately, he became more famous for his side hustle. Inventing the Super Soaker, the little water gun for little kids.

And that Super Soaker has become the best-selling water toy in history. Yeties Black History, it's more than a month. It's an opportunity to stay. celebrate some fantastic stories, and that's what we loved finding this one. We think Lonnie Johnson's defiant super soker say it all. So the next time you're drenched, think of Lonnie. And if your older brother soaked you and made you cry, you can also blame Lonnie Johnson. Jack, let's in our three songs. 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. That's it. I don't even think they need to practice. 50%. That's a fat. 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.

This one's wild. Would you use an Uber for bodyguards? Because Protector just launched exactly that. Protector's Bodyguard app just went viral because of the number one rule of storytelling. Oh, Yeties. Over the last decade, we've covered a lot of the Uber for blank business models, haven't we, Jack. It's like Uber but for dog walkers, or for snow shoveling, or for dog poo shoveling, a hybrid of the two. I think that one's called Scooper, not UberJep.

Well, Protector is the newest of that batch. Uber for bodyguards. Basically, you book a bodyguard for the night to chauffeur you around town. You have got your own personal bouncers. The app just launched, and they're only available in New York and L.A. to start, but this is a gig app for muscle. Now, we've dove in T-boy style. This is your classic, two-sided platform. They're employing former SWAT, seal, and special operations forces on the one hand. They're all wearing suits. They all have biceps, and they're all carrying concealed weapons. And these aren't mall cops. These are real cops. But they don't smile ever. They let you choose the bodyguard and none of them are smiling in their pictures.

Well, also, like Uber, there's dynamic pricing here. Because it starts at 200 bucks an hour, you can get an armed bodyguard in a Cadillac escalate. After you see the price of your bodyguard for the night, the only choice you have to make in the app is how many escalates you want? and what uniform the bodyguard should be wearing. Yeah, you're going to pay more of a premium depending on the mission. And now, to clarify, it is their term mission. You decide what type of mission you want. And here's the two choices.

Are you a VIP who actually needs security? Like, remember, the healthcare CEO was shot and killed last year. So maybe you're an executive at a company and you actually want to beef up your own security. But the other mission is a little less serious. It's as a party gag. Would you use this app basically as a party. party accessory. To make your Bachelorette night in West Hollywood even more epic. Get in the car, guys. Steve is running security. But the fascinating thing about this story to Nick and me, it's not the

250-pound armed gig workers. No, it wasn't Jack. It's the launch strategy. Exactly. Because Protector launched just 72 hours ago. And yet it has already hit number seven in the travel category of the entire app store. Protector didn't do any press releases. They didn't do a wait list or put out coupon codes or pay for a billboard or do any paid advertising. Yeah, basically their launch strategy wasn't any of the traditional things you would do if you were launching a brand new app or a brand new brand. Instead, Protector found two pretty well-followed influencers and let them use their service for free for one trip. Then they recorded a one-minute video that got 10 million views in just three days. Here's the video. Two women were flying from Los Angeles to New York for New York

Fashion Week, and they used protector to get picked up and brought to the airports. Now, the pickup was in a Cadillac Escalade, and there were two guards inside, guiding them to the terminal. Basically, everyone at LAX Jack was thinking they were one of the Kardashians. And then when they landed in New York, two different guards picked them up, also packing heat, also driving an escalade with sunglasses and escorted them to the fashion show. So basically, the appeal for these two regular people who don't actually need security is that it signaled they were famous, even though they're not exactly that famous.

You can invest $400 for a protector, and then the world thinks you're worth $4 million. Your personal secret surface is basically an investment in personal branding. Now, yes, this whole business reflects a troubling socioeconomic side. Do you really want to live in a world where you need private security

just to go out with your bachelor's ad party? But we got a question for our listeners. Drop it in the comments. Would you pay for private bodyguards for a night? Yeah, this business model could go one of two ways. Would you pay for security or would you just pay to party? One sec, Jack, I'm just touching my earpiece here. Uh, yeah, the eagle has landed. The eagle has landed. If Domingo tries to get into the limousine, let him in the limousine. 10-4. So, Jack, what's the takeaway

for our buddies over at Protector? It's a modern take on the age-old storytelling role. Show, then tell. Yiddies, if your new business is going to get any business, you need to get people's attention first. Protectors launch video was 100% about showing you what it was. That was key. They didn't describe the business to you. They showed in the video seven foot guards, concealed weapons, everyone staring at you as you walk around the LAX terminal. So they did a great job showing you. But it's more important than ever in this age to tell. Right. Like is this a scam? Is this AI? In an age of disinformation and misinformation, you better have an FAQ section on that site. People are going to do their own research. Oh, and if there's an

armed guard involved, yeah, you better tell the details. That's why we have a tweak on the age old storytelling adage. Show, then tell. That's how Protector launched a viral Uber for Bodyguards app in 72 hours with almost no budget. For our second story, Nike just announced its first new brand since Air Jordan. Nike skims. It's Kim Kardashian's biggest business win yet. Honestly, making her the number one woman in athletic apparel. Yet he is one of the most recognized brands in the world is now partnering with the busiest brand in the world. Because Nike and Skims just announced Nike Skims. One word, no space. It looks more like a screen name than brand. Yeah, can we jump on AOL for this one, guys? And because everything Kim touches turns into cash, Nike stock rose 5% on the news.

Nike grew $5 billion in market value thanks to this announcement with Skims. Nike signs a deal with a Kardashian and gains more market value than one lift, Jack. Let that sink in. Nick and I think Nike looks like an older presidential candidate here. Yeah, yeah, we do. They picked Skims as their vice president to bring some youth to the ticket. Yeah, like Skims, can you come up with me on the stage and get this photo off together? Now, the collab starts with women's apparel, but they plan to expand to menswear and footwear, and it launches this spring. But Jack, we've both read Phil Knight's book about Nike. Could you please sprinkle on some historical context to this deal? This is a Nike's first new brand since Air Jordan. Sit down, stand up, and wick that sweat again. So,

Nike doesn't do brand collapse, but brand collabs are pretty much all Skims does to grow right now. Bessies, we've been covering Skims the last couple years. This six-year-old brand recently announced a collab with the North Face for skiwear. They also announced a collab with Swarovsky for jewelry and Dulce and Gabana for luxury. At this point, it's like, when is Skim's going to come for Sashimi Street, Jack? Agreed. Like, I'm really, wondering what their next collab is going to be. Hey, Kim, let's get Elmo and some a leisure for a while. I think the key is that there's female customers, because the Skims brand is stretching across the entire female economy through Collabs. But Nike is their biggest

collab deal yet, and it'll let Skims enter the huge athletic apparel market, basically, we think, for free. We don't know the terms of the deal. No, they weren't disclosed. But we do know that Nike needs this much more than Skims does. Because before announcing the Skims collab, Nike stock was down 60% from its all-time highs. So our guess is that Skims bears none of the cost of this Nike skims collab. They just take a cut of the sales. That's our guess. Every collab is a transaction. Nike, it's getting to look younger. Skims, they're getting huge distribution. So for the inevitable Nike skims dry fit, butt sculpting, sweat-wicking body suit. Which, by the way, is going to be the Mother's Day gift of 2025. Nike's going to pay for the whole thing and Skims is just going to take 10% of sales.

But this brings up a big question for every company that's ever done collabs, especially skims. Are they stretching the brand too far? Where's the limit? So Jack, what's the takeaway for all our buddies doing collabs? The risk of collaborations isn't quantity, it's quality. Yeties, or to quote, mean girls, when it comes to clabs, we believe the limit doesn't exist. As long as the quality of the collab partners remains high. We think the limitation of collabs isn't how many you.

do, it's who you do them with. So far, Skims has focused their collabs on brands that represent the pinnacle of their industry. Swarovsky Crystals, number one crystal company. North Face, the number one outdoor company. Each brand is number one in quality in its industry. That's what Skims has aimed for. Nike fits the bill of that number one criterion as well. They do. But Skimms' collabs would struggle if they start resorting to different types of quality, like second or third tier brands. No offense. But if Skims did a ski coat collab with a budget brand like Eddie Boll, hour, that could dilute the brand's premium an inch. Yeah, it would just be a different type of quality and that inconsistency, that would be the problem. So how far can skim stretch their brand?

When it comes to clabs, the limit isn't quantity. It's quality. Now a quick word from our sponsor. For our third and final story, bet you didn't expect this one. The fire truck industry has become monopolized with longer weights and higher price tags. And it all reveals a strange contrast. Fewer but more expensive fire trucks. Yeti's trust in institutions is down. But according to Ipsos, if you're with the FD&Y, things are looking good, man. Firefighters are ahead of nurses and teachers as the number one most trusted institution in America. As a reason your mom keeps that firefighter calendar around, it's because she trusts the firefighters.

Nick, hold on. Tell them the story about the time you visited and put on a firefighter uniform. Yeah, in business school. We did a trip to FDNY up in New York, and we went into a burning building. It was a leadership lesson, right? It was a leadership class. Yeah, I already had respect for the firefighters, but one to incredible group of guys. How heavy was this suit you had to put on? 60 pounds, Jack. I had to get a spotter just to put on the outfit. Did you slide down a pole? I think the pole slid down me. I got crushed, man. But yet, as you may have noticed from the Los Angeles wildfighters, that there's a nationwide shortage of fire trucks. From Las Vegas to Atlanta, from Cape Cod to Tucson, there's delays all the these fire stations are waiting for their vehicles to arrive. The wait time for a hook and ladder,

it's now four years for a new truck. Now, the fire truck industry is very different than the car industry, we should point out. First, there's very few orders of new fire trucks that happen, relatively speaking, and each one is highly customized. Yeah, that fire truck is built to last 15 years and a whole bunch of fires. And California fire trucks have very different needs and requirements than a Minnesota fire truck. Yeah, like the fire trucks in San Francisco, they have actual surfboards on them. Like, no joke. If they have to get, yeah, Yeah, and they have to get into like the ocean. In Minnesota, you need like an icebreaker and a snowplow on that fire truck. But it's not just the delays that are wreaking havoc on fire departments. It's the price of trucks, which have doubled in just the last few years.

Get this. A new fire truck? That was $1.3 million bucks about four years ago. Now it's $2.3 million, according to the New York Times. It turns out the fire truck shortage we see today, though, is thanks to moves made on Wall Street yesterday. This is what we found fascinating about this story. 20 years ago, Yetis, the fire truck industry, it was fragmented. Every region of America had their own little fire truck maker, like not that far away. Like a fire truck chassis company based in Ohio only making fire trucks for Ohio. But in 2006, Wall Street noticed. And one private equity firm known as American industrial partners bought up a bunch of those regional fire truck manufacturers and rolled them up into one giant company. And Jack, what was the result of that private equity roll-up of the fire trucks? We have one giant company today that

controls 30% of the market for new fire trucks. And get this, that company, Rev Group, was taken public in 2017. It's a $2 billion, pure play, publicly traded fire truck company. This private equity firm, they also decided to buy up companies making street sweepers and ambulances and school buses. They found efficiencies with all of these huge municipal movers. And to boost profits, Rev probably made some smart moves to up the efficiency across all those assembly lines. But they also made some cold moves like shutting down one-third of the factories that were making these fire trucks. The results? Profit margins at this company doubled from 5% to 10%. Although that was at the expense of the public that had to order them and wait four years for a new fire truck to arrive.

But a big question you might be asking yourself, aren't the number of fires down? Yes, they're down 50% in the past 50 years in America. And yet, this pure play fire truck stock is seeing all-time high profits. We're going to square those two conflicting details in the takeaway. So, Jag, what's the takeaway for our buddies sliding down the pole over in the fire truck industry? Alligopies are monopolies, but sneakier. Yeties, the impact on fire departments of this Wall Street-driven consolidation, well, we'll let the head of the International Association,

of firefighters explain. Here's what he said. Absent competition, monopoly capitalism is a shakedown. Because of less competition, fire truck companies, they're less responsive and they're still charging higher prices at the same time.

Just three big firms now control 80% of the market for fire trucks. So it's not a monopoly, but it is an oligopoly. That's the funny thing we wanted to highlight, though,

because if just one company dominated the fire truck industry, if it was like a fire truck monopoly, that'd be easier to regulate and crack down on it'd be obvious you know breaking up that one fire truck behemoth would be the natural solution yeah like the microsoft of fire trucks basically but the private equity roll-up of fire truck companies happened over 20 years so it was more like a frog in a pot of boiling water the result very little scrutiny even though the effect of this oligopoly is very much like a monopoly higher profits

but higher prices for consumers sebasties when it comes to oligopolis they're just like monopolies but sneakier. Jack, could you whip up the takeaways for us for the new, new Friday? Protector is Uber for Bodyguards. Their launch stunt with an influencer got 10 million views. This is a modern take on the storytelling rule.

Show, then tell. For our second story, it's Nike. Nike. They're trying to get their groove back by launching Nike skims with Kim Kardashian. The real limit to collabs, it isn't quantity, it's quality. And our third and final story. Firetruck prices are up

and delays R2 after PE consolidated the industry. Allegopolis, they're like monopolies, but they're just a little bit sneakier. But Yeties, this pod's not over yet. Here's what else you need to know today. First, last week's geopolitical headlines were the Trump administration scolding European allies on NATO, free speech, and trade. This week's geopolitical headlines are the opposite treatment for Russia. Secretary of State Marco Rubio is meeting with his Russian counterpart to discuss an end to the war in Ukraine,

and rekindling economic ties with Russia. Second, Hermes, the luxury handbag brand, just had its best quarter in history. So what did they do, Nick? Well, Jack, Armaze is giving every worker a $5,000 bonus. Hermes is the outlier of the luxury industry. I think I overpronounce the H just now, and they're defying the luxury law.

Yeah, we did great with Swarovsky crystals, Jack. So all 25,000 Armez staffers, from the corporate team to the sales clerks, are getting $5,000 bucks. And finally, KFC is moving their headquarters from Kentucky to Texas. Yeah, the colonel is going down to Plano, Texas. It's part of the trend we highlighted last week

of like the polls of business shifting from New York and California to the southeast quadrant. But these guys were in Kentucky. Right, right, right. Let me just say it's a good thing they removed Kentucky from their official name. It just said KFC. I mean, Jack, there's like huge opportunities here, too.

Like, are we going to get a fried brisket with the biscuits? Could they do a little Texas barbecue? You think in this? Yeah. I guess fried chicken and brisket could be pretty good combo. Now, time for the best fact yet. This one whipped up by Jack and me, and it's based on our intro story.

We mentioned earlier the Super Soaker. This water gun was created by a black scientist from Alabama back in 1982. But Lonnie, the inventor, he's a modern-day Tommy Edison. Get this. He holds 140 different patents for inventions he came up with. Including some Save the World style moonshot inventions that he patent protected. Like a lithium battery

that is 10 times more efficient than the standard one. So after getting rich from the supersoaker literally made hundreds of millions of dollars on it, he now runs an institute for innovation down in Atlanta

with a staff of 30. Yides, if you got the best fact yet, for Black History Month, we want to hear it. And we want to get it on the pod. So click the link in the episode description. You can leave us a voicemail

or you can go to tiboypod. com slash shoutouts and leave it there. Either way, we want to hear it. It's a very easy Google form. We'd love to get you on the pod. Besties, you look fantastic out there for the four-day week. Jack, I have got a request for you. You ready for this? Hit me. Okay, is the Podson still into trucks and cars, like ahead of his

fourth birthday? Very much so, yes. For his fourth birthday, I might get him a share of this fire truck stock. I think it's worth it. You know, the annual birthday gift of buying shares? I think a fire truck stock for a kid actually, like, works out really well. Deposit it right into the 529 account. Let me just say, I hope this is a really high dollar price of stock. Yetis, this is not investment advice. I am purely doing this because a little boy loves fire trucks. It's a good idea. If you haven't yet, drop down to give us a five-star rating because that helps grow the show.

And Nick and I will be back with you tomorrow. Can't wait. And before we go, a happy birthday to Yeti Mulvika all the way over in Mumbai, India, turned 22. Happy birthday to Earl Lee in Philadelphia. And Connor Malloy over in Connecticut, probably going to hit a hole in one for his birthday weekend. Happy 33rd birthday to Marley Miranda in Charleston, South Carolina. And Daniel Prado over in Bellflower celebrating the birthday and an anniversary. Happy 30th birthday to David Chen in Ontario, Canada.

And Tyrone Jenkins turning 42 as a hurricane over in Rale. Big shout out to Tom Barry, who just got a new job in P.E. over at Carlisle. Tom, if you see some fire trucks, snatch them up. And Andrew Mahler over in Wisconsin, we just wanted to say thank you for your incredible message. Andrew is who emailed us about him and his wife listening every day, commutes, gym, doing the dishes. They're amazing. Wow. TVOI and TBIY.

Have fun on your next budget date, guys. Big shout out to the publication FeedSpot, which just named T-Boy a 20-minute top podcast. And show big Don down the street in San Francisco launched Uppley, a platform for job seekers. Congratulations on the job launch. And happy anniversary to Melissa and Gobertoe in Aurora, Illinois. Celebrate the wins. This is Jack, Nick on stock of Nike, which I deposited into his son's account for his birthday. And finally went off today, Jack. It's about time.