The Best One Yet - 🫠 “Promotion, Pay Raise, or Taco Tuesday?” — The secret to job satisfaction. Netflix’s NFL Christmas gift. Wayfair’s 1st megastore.

Episode Date: May 17, 2024

Job satisfaction just hit a record high 62.7% in America, but it also revealed a strange paradox — More Americans prefer company culture than a promotion or pay raise.Netflix just gave itself the biggest Christmas gift of all: NFL football games for the next 3 Christmases — But Netflix isn’t buying NFL games, they’re renting them.And Wayfair, the online-only furniture store, is opening their first ever physical store in Wilmette Illinois — Because ecommerce ran into reality.Plus, it’s National Bike-To-Work Day, but we found a fascinating connection between bikes and airplanes — The inventors of the airplane came from “Big Bike Money.”Subscribe to our Saturday Newsletter: tboypod.com/newsletter  $NFLX $W $DISWatch us on YouTubeSubmit Shoutout Requests Submit The Best Fact YetFollow us: on InstagramAnd connect with us on Nick’s LinkedIn & Jack’s LinkedInAbout Us: The daily pop-biz news show making today’s top stories your business. 15 minutes on the 3 biz stories you need, with fresh takes you can pretend you came up with — Pairs perfectly with your morning oatmeal ritual. Hosted by Jack Crivici-Kramer & Nick Martell. Hosted on Acast. See acast.com/privacy for more information.

This is Nick. This is Jack. It's Friday the real Friday, May 17th, and today's pot. Today's pot. Oh, this is the best one yet. Best one we've ever done, Jack. The top three pop business news stories you need to know today. But hey, Jack, how about our buddy Dow?

The Dow Jones Industrial average just passed 40,000 points for the first time ever. This benchmark stock market index is at 40,000 for the first time ever. The Dow at 40,000, that's a big deal. Jack, remember? when the Dow hit 20,000 points, man? I do. 2017, right before we started this show. Seven years later, it's doubled.

The Dow 40,000. Yetis, there's nothing Wall Street likes more than a nice round number. Jack, what's on today's show? What do we got, man? For our first story, Netflix just gave itself the biggest Christmas gift of all. NFL football on Christmas Day. But Netflix isn't buying football rights. Netflix is renting them.

For our second story, job satisfaction just hit a record high in America. because of a strange question. Oh, here you go, Yetis. Would you rather get a promotion, a pay raise, or Taco Tuesday? We'll tell you the answer in our second story. And our third and final story is Wayfair. Wayfair, the online-only furniture store, just opened its first physical megastore and it's gigantic.

Why did Wayfair open their first physical store, Jack? Because e-commerce has run into reality. Boom, e-commerce. We're getting right into for you. But yeties, before we hit that wonderful mix of store, to finish the week. Jack, what a mix of stories to go into a weekend with. Celebrate that win. Today is National Bike to Work Day. It's National Bike to Work Day. And there's definitely one person in your office who will absolutely tell you about it. They just showed up in those

padded black shorts and those clicky clacky biking shoes you can hear down the hall. David, the shower's over there, please. But it turns out the most famous people in biking are also the most famous people in flying. That's right, Jack. There is actually a year. huge historical connection between the bike and the plane. Get this, Yetis. A century ago, the Wright brothers invented the first ever airplane. But those same Wright brothers were actually bicycle repairmen. That's right. The Wright brothers credit the bicycle for inspiring their airplane. That's what we're saying, Jack, is no bike, no Boeing.

No Huffy, no Luftanzah. Well, Jack and I, we jumped in T-boy-style besties. And 125 years ago, America was going through a bicycle car. craze. Bikes were basically the Beanie babies at the turn of the century. Everyone needed one. Everyone needed them. So, two brothers in the great state of Ohio jumped onto this crazy biking trend.

Wilbur and Orville Wright opened up a bicycle shop on the corner of 3rd Street in Dayton, Ohio. And Orville Wright, they even launched their own bicycle brand to jump on the big bike balance. But these brothers were so inspired by the mobility that a bicycle offered humans. That they designed a flying bike. And they funded that flying.

machine with their bike store profits. So in 1903, the Wright brothers took the first ever sustained human flight and the rest is history. And it was all inspired and paid for with big bike money. Bikes, they're the stepping stones to flights. Bikes, they were the training wheels to airplanes. The bicycle walked so that the airplane could fly. Literally. So if you're on an airplane right now, you can actually thank the bicycle. That is, if you're on a bike right now, you can take credit for airlines. Great. Now bikers have another thing to boast about. Hey Dave, take that damn shower. Jack, let's hit our three stores.

Fifteen years before this song, two boys from the Northeast met in the dorm. They had an idea to cause a culture what 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.

First, a quick word from our sponsor. For our first story, huge week for the NFL. First, the NFL posted their schedule for the next season. and then they announced a Christmas Day game on Netflix. The Netflix and NFL deal shows the power of renting. Jack, before we talk about a sports story, let's go full mugatu here. Live sports? So hot right now.

In just the past couple weeks, every big streamer has jumped into live sports like they just got tapped by Rudy. First, Disney Plus broadcast their first ever live sporting event. Caitlin Clark's debut WNBA game was broadcast on Disney Plus. That Amazon Prime reportedly is about to announce a big basketball deal. Prime might get a piece of the NBA's next TV deal. And finally, Netflix will broadcast its first ever NFL game this Christmas with a double header. Netflix splurged $150 million to get the two games that the NFL has this coming Christmas day. All right, Jackson, since you were a quarterback in high school, I mean in college, I mean backup quarterback, I mean, you played football.

Can you sprinkle on some context for us on 150 million? million dollars for two NFL games. So, yadies, I started one college football game in my career. It was D3. So I was a backup for the most part, but Nick was there, and he was cheering me on, and we won the game. I would never not cheer you on, but back to the numbers, baby. Jack, can you sprinkle on some context to 150 million bucks for two NFL games.

Netflix is paying $75 million per game, or $19 million per quarter, or $1.5 million per minute of game play. Jack delivered like a starting quarterback. Yeties for the first time ever, the biggest media company on Earth. Netflix. Just got the biggest live sport on earth. The NFL. Bill Belichick and Bridgetin are officially on the same team.

So yet is if the NFL announcement was like a touchdown for Netflix, they got a two-point conversion too. What my friend Jack here is saying is that 12 hours after the Netflix NFL deal got announced, the NFL also announced. their schedule for all 32 teams. And guess who is playing in the Netflix debut NFL game, Nick? He's going to play, who's going to play? Tell us, tell us.

On Christmas Day, this December 25th, the Super Bowl champion Kansas City Chiefs play on Netflix. Netflix, just signed a deal to have the Kansas City Chiefs play on Christmas Day. This is a Christmas miracle jack. You're going to get Santa Claus. You're going to get Netflix. You're going to get Patrick Mahomes. And you're going to get Taylor Swift. Because Yeti's Netflix won't just draw every NFL fan now.

They're also going to draw Swifties to their first NFL game. Now, last year's Christmas Day game for the NFL also featured Taylor Swift in the Chiefs, and it drew 29 million viewers. But this year, with the added motivation to boo Harry Butker, we expect Netflix to break the streaming record of all time. Early prediction. This Chief's game on Netflix on Christmas Day will be the most streamed live thing ever. Yeti's sit down, stand up, and grab a table.

We predict it again. This Chief's game, this Christmas on Netflix is going to be the most dreamed thing that's ever happened. Because you can't spell Netflix without NFL. I can't spell Netflix without NFL. We were so excited when we discovered that. Jack, I was writing out the ticker symbol for today's podcast. I was like Netflix. NFL.

Oh, my God. The NFL is in Netflix. It was meant to be. So Jack, what's the takeaway for our buddies over at Netflix? With this NFL deal, Netflix shows the power. of renting. Yeti's CBS, Fox, ABC, NBC, each of those TV companies is the proud owner of the NFL. Because each of those legacy TV networks pay over $2 billion a year to get one NFL game per week. It's like they're homeowners, you know? Like NBC's got like a 10-year mortgage to buy 10 years of

NFL rights. It's like NBC owns the NFL. But Netflix isn't paying $2 billion a year or even $1 billion a year. Netflix is paying a reported $300 million for three years of Christmas Day football. Yeah, so like, instead of buying 10 years of football, Netflix is renting just one day, Christmas, for the next three years. If Netflix's rental goes well, maybe it'll buy. Maybe it'll upgrade to buying a piece of the NFL, like the other networks have. But for right now, Netflix is just renting,

and Netflix will get 30 million households enjoying that rental on Christmas Day. With this Netflix NFL deal, it shows the power of renting. For our second story, job satisfaction in America just hit its highest level since they started keeping track. But here's the even bigger surprise. Pay is not the most important part of job satisfaction anymore. The eddies, we will get to that in a moment. But first, for longer than Jack and I have been alive, one company has asked American workers one question every single month. How you doing?

Yeah, how you doing out there? That company is the conference board and the question that they ask you is, are you satisfied at work? Every month, they ask thousands of American workers that question. And more people said yes last month than any other time in the 37 years of this survey. Get this bestie. 62.7% of Americans say that they are satisfied with their job right now. That is an all-time high. 62.7% of us are pulling a Farrell Williams.

We're happy. You feel like a room without a roof jack? In 2010, only 42% of us said we were satisfied with our jobs. Today, almost 63% say yes. Now, at a glance, if you think about this, work happiness at an all-time high, it kind of makes sense. Unemployment is near record low, below 4%. The stock market just hit another record high yesterday, not too shabby. If you own a home, it's probably worth more than ever.

Taylor Swift is touring again, your buddy Timmy's buddying again, and you just book that summer trip to Tahiti must be nice. But yeties. Are a record two-thirds of us really loving our jobs right now? I mean, Nick and Jack here, we go out to dinner with our friends, and I don't want to say two out of three are really loving life like this way. That optimism doesn't jive with the reality that we're all feeling on the streets. It turns out if you dive deeper into this job data, you see what conference board calls the biggest paradox they've ever seen.

Here it is. While overall job satisfaction was at an all-time high last month, all 26 components of job satisfaction. Fell last month. All right, Jack, could you whip out the whiteboard and translate that a bit more for us over there, please? People are saying that they're happy overall with their job, but they're also saying that they're unhappy with the 26 elements of the job that the conference board asks about. So, like, they're unhappy with their wages, their work-to-life balance, their health care benefits.

That satisfaction is actually down for each of those individual details. But people are still saying overall, they are satisfied. So that is the job paradox right now. And why is this happening? Well, maybe it's frustration with inflation. Inflation casts a shadow of annoyance on all of us consumers. Or maybe it is frustration with remote work policies. Nobody likes their boss's remote work plan.

But probably the reason why we're seeing happiness at an all-time high at work, despite frustration with every detail of work, is this. Most Americans are just happy to have a job right now. In this economy? In this economy. But the biggest paradox we found in this survey is in our takeaway. And it's about Taco Tuesday. So Jack wants the takeaway for all our buddies who are in the American economy workforce.

Cash isn't king. Culture is king. Yeties for decades. The top indicator of job satisfaction has historically been wages. Higher pay, higher happiness. Higher pay, higher satisfaction. But this survey shows a new driver of work happiness. And that driver is company culture.

out that culture was the top determining factor of employee satisfaction, not how much you're getting paid. It's hard to believe, but people prefer a good company culture right now than a higher paycheck. When honestly, it kind of makes sense, doesn't it, Jack? In this afflation economy, when prices are constantly rising, your pay raise can feel like it disappears in a moment. And in a remote work world, culture may help cure the loneliness that so many Americans feel. That Taco Tuesday tradition that your colleagues have, that suddenly feels more meaningful. Jack, the coffee cat chips with kale from accounting?

Yeah, they used to be annoying, but now they kind of hit different. Maybe it's just this particular moment that we're in. But if you're a boss or a hiring manager, you need to know this. Right now, cash isn't king. Culture is king. Now a quick word from our sponsor. For our third and final story, Wayfair, the online furniture company is launching their first ever physical megastore.

But this single Wayfair store reveals something even bigger about e-commerce. Jack, before the weekend, can you please reveal our favorite statistic about our buddies up in Boston? If you got a buddy in Boston, there's a 73% chance they work at Wayfair. A 73% chance they work at Wayfair? There's like a 30% chance they work at Fidelity. Oh, and the rest are New Balance. And they interned at HaVos. But anyway, there's a 73% chance they work at Wayfair.

Wayfair. The furniture company headquartered inside Bob. Austin. Actually. Wayfair, it is the IKEA of America. Wayfair is a home goods hero. From couches to sconces, they sell 22 million different home goods products. 22 million different home goods products. Jack, could you sprinkle on some context for us over there? Home Depot sells a million products. Target sells half a million products. Wayfair sells 22 times that. Wayfair manages to sell 22 million different products because they actually have 22,000 different suppliers. And they organize all those products under five different brands on their website.

Really pleasant-sounding brands like Joss and Vane. Ah, yeah, that does sound pleasant, Jack. Now, yet he's during the pandemic, the stock of Wayfair was a pandemic powerhouse. Wayfair stock 10xed at the beginning of the pandemic as you pimped out your home office with a standing desk. But since the pandemic, Wayfair stock has been a post-pandemic pooper. The stock came all the way down, down 90% as people return to normal. So investors have been wondering, what is Wayfair's big turnaround plan? Apparently, it's their first IKEA-style megastore that opens next week just outside Chicago. It's their first ever megastore.

Now, this makes them a lot like IKEA of America. It's 150,000 square feet. It's got a restaurant in the store and the shopping carts are huge. 150,000 square feet is three times the size of a typical Walmart. But yet here's what Jack and I found fascinating about this story. Why is Wayfair's first megastore such a big deal? Because it's ironic. Wayfair is the ultimate e-commerce brand, now building an ultimate physical store.

Yeah, he's the way, Jack, and I see it. Wayfair is the most online-focused company we have ever seen, including Amazon. That's not an exaggeration. Because Wayfair is such an online company. They don't ever touch the products that you purchase, ever. Wayfair's innovation 22 years ago was the drop shipping model. So that means that Wayfair holds zero inventory ever. So if you see a dresser on Wayfair.com and you order that dresser,

Wayfair sends your order to a factory in China that they do not own. They're just one of the 22,000 factory suppliers. And that third party factory in China ships that dresser to you directly without Wayfair ever touching it. The only thing Wayfair touches is your credit card number. It's kind of like Wayfair is like Uber or Airbnb, right, Jack? Wayfair is just the middleman technology application. Wayfair is the ultimate expression of e-commerce. It's so digital, it doesn't even touch the physical.

That's how Wayfair manages to sell 20 times more products than Home Depot does. And that is why it is so wild to hear that Wayfair is opening a huge physical store. 150,000 square feet of IKEAness. So, Jack, what's the takeaway for our buddies over at Wayfair? E-commerce has run into reality. Yet he's shocking. Hero stat. According to the U.S. Census Retail Report, only 15% of retail sales are online. Just 15% of American shopping happens on an app or a website. The rest happens in person. That is why more and more

digital first brands are launching physical stores from Warby Parker. Glacier. The reality is that many products we won't consider purchasing online. If it's a big, comfortable, or really expensive product, we still want to see it, touch it, and test it in person. You're probably not going to buy a matching set of sectional sofas from your iPhone. And you're probably not splurging a wall-to-wall carpeting from your Apple Watch. You could, but you just don't. Because we prefer to buy a lot of things offline. We prefer to buy a lot of things in person.

And that is why e-commerce is still only 15% of all sales. And Wayfair just ran into that reality. Jack, could you whip up the takeaways for us for the Real Friday? Netflix bought the rights to the NFL's Christmas Day games for the next three years. But Netflix isn't really buying. This deal shows the power of renting. For our second story, according to a conference board survey, a record percentage of Americans are satisfied with their jobs right now. But the biggest shocker, when it comes to your job, cash ain't king. Culture is king. And our third and final story is Wayfair. They're opening a gigantic

physical furniture store in Willamette, Illinois. Because e-commerce has run into reality. But yeties, this pod's not a. yet. Here's what else you need to know today. First, McDonald's is partnering with Coca-Cola to launch a super value meal this summer. For five bucks, you get a burger or chicken sandwich plus French fries, plus a soda. Now, Jack, let's talk about value. 20 years ago, a $5 foot long over at subway, that was a great deal. After 20 years of inflation, a $5 meal like this is an amazing deal. Eddies, it's only for one month. It starts in June, and it's all part of the trend of consumers chasing value. Second, Disney.

Fox and Warner Brothers just named their sports streaming bundle. It's called Venue. The sports streaming bundle will be available this fall and it'll be called Venue. It's probably going to be like 50 bucks a month because sports are pricey, although that price still hasn't been announced. But like Mugatu said, live sports and streaming, so hot right now. And finally, in more positive news for Utah, the Great Salt Lake is bigger than it's been in decades. After 20 years of drought, snow and rain have added 150. miles of water to the Great Salt Lake.

The Great Salt Lake is six feet deeper right now after two epic winters of a lot of snow. Utah's getting more lake and a hockey team right now. They should name the hockey team the Lakers. I prefer Utah Yeties. Yeah, we like the Yeties. We prefer Yettes. Now, time for the best fact yet. This one from our weekly Saturday newsletter, the best newsletter yet.

What do we got, Jack? Trivia. What is the most valuable beverage brand on Earth? We know what you're thinking. The most valuable beverage. got to be Coca-Cola, maybe Pepsi, could be Budweiser. What about that? It's actually a beverage called Mao Tai Firewater. Mau Tai. It's 53% alcohol by volume and it is wildly popular in China. I had some and you don't forget that stuff, Jack. It tastes like firewater. Does that mean it's like fireball?

It tastes like whiskey if you lit it on fire. The cheapest bottle is 350 bucks, but the vintage bottles go up to 38,000. thousand dollars. Mautai is owned by the most valuable publicly traded beverage company on earth. And the number two most valuable traded company in all of China. More on Maltai in our weekly newsletter, the best newsletter yet, which you can subscribe to right now with a link in our episode description. Yeah, it is. You looked fantastic all week. Jack, you're glowing over there, man. Here, too, dude. Besties, if you run into someone this weekend, who's looking for a pod in finance, Real fun, 20 minutes, two guys. You know what to tell them.

Age by H, TVOI. Looking for a pot on finance. Real fun, 20 minutes, two guys. Have you had the best one yet? Real fun, 20 minutes, two guys. Nick and I, we'll see you Monday. 20 minutes, two guys. And before we go, a happy eighth birthday to Yeti,

Jace Duon, who listens to our pod every night to go to sleep, and his favorite Pokemon is, yes, So Goli. Happy birthday to Josh Gilleske in New York, New York, who's doing a little Get Ready With Me video as we speak. Never forget those creams and Wyatt Ellserman in Canton, Michigan is doing supply chain in Detroit and celebrating a birthday on that supply chain. Happy birthday to Tim Yen in Taipei, Taiwan, the budding hip-hop artist we gotta listen to. And we got a 28th birthday for Alonzo F celebrating in Fairfax, Virginia, baby. Happy birthday to David Gamble in Tampa, who just returned from a South American, travel adventure. And Erica Brown is celebrating a 48th birthday, happy birthday in Cincinnati, Ohio.

And a huge congratulations to Jason Deliac and Somali. They just reached their vesting day. They've spent two years together, which means they can cash in on more of each other's love. Celebrate that liquidity win. And Anna Clinton is moving from Alexandria to Nashville. Congratulations, but can't wait to see the place. And congratulations to H. Willsie from Richmond, Virginia, who just got a promotion and also has a killer tan. And a congratulations to the best cohort of all. The EW MBA Blue Cohort at Berkeley Haas. They are not only whipping up case studies,

they are celebrating the wins. Congratulations on graduation. And congratulations to Canal Patel for getting an MBA at wonderful Villanova University. And a special shout out to Yeti Claire Bada Rocco and her doggy Maximus, who just sent us the most touching video we've ever seen. seen from Jay Peterman himself. Okay, Jay Peterman for a couple seasons of Seinfeld was Elaine's

boss. He's one of the great Seinfeld characters of all time. Nick and I both happened to find him hilarious. And she just whipped up a video will never forget. Thank you, Claire. A cameo, which you should check out today on T-Boy Pod. We posted it to our stories. Celebrate that win. This is Jack. I own stock of Amazon, Disney, and Netflix, and Nick and I both own stock of Airbnb and Apple. You know, Nick, a buddy of mine who lives in Utah accused us of election interference for rallying our audience to vote for Utah Yeti's. We'll do whatever it takes.