The Best One Yet - 🤘 “What gives you wings?” — RedBull founder’s legacy. Uber’s epic ad. Joyspun’s underwear strategy.

Episode Date: October 25, 2022

The Founder of Red Bull passed away, but he left us with the most powerful marketing strategy of our lifetimes. If you’re riding in an Uber today, you may notice something completely new while you wait for that Camry: Ads within Uber. And at a record time for underwear startups, Joyspun just launched — Except it’s already owned by Walmart and it’s already worn by 20% of American women.$UBER $PEP $WMTFollow The Best One Yet on Instagram, Twitter, and Tiktok: @tboypodAnd now watch us on YoutubeWant a Shoutout on the pod? Fill out this formGot the Best Fact Yet? We got a form for that tooLearn more about your ad choices. Visit podcastchoices.com/adchoices Hosted on Acast. See acast.com/privacy for more information.

This is Nick. This is Jack. It's Tuesday, T-Boy Tuesday, October 25th, and today's pod is the best one yet. Oh, it's a T-boy, Nick. It just feels like a T-boy, Jack. What are we got going on today? What's our first story? Uber just launched an entirely new division, ad sales.

Ad sales. If your Uber's ETA is seven minutes, you're now going to watch seven minutes of ads. For our second story, it's been a record year for underwear startups, and we just got a new one. Joyce Bunn just launched yesterday. but you're already wearing it. And our third and final story is the founder of Red Bull. He just sadly passed away and we realized we've never covered Red Bull on the show. We've never covered Red Bull.

Red Bull's founder created the most successful marketing strategy in our lifetime. But Yeties, before we hit that fantastic mix. Fantastic mix for a happy T-Boy Tuesday jacket. Are you suffering from Halloween CDP? CDP. Costume decision paralysis. Symptoms of Hiboy. Halloween CDP includes stress, frustration, and Googling the same thing over and over.

Hey, Alexa, I need a funny, brilliant, original costume idea, please. No, Yetis, for Halloween, you could go as a prophet puppy. You could be Dahlene from Duncan with two pumps. It's a classic. Or you could be a puddle of street juice. Or Jack, maybe you go as Jamie. Nassa! But we're one week out from Halloween, so we wanted some more ideas.

So, Yeties, Jack and I jumped in T-boy style to solve your Halloween costume decision paralysis. Hey, here you go. You could go as the ghost of the Chaco Taco Taco. Ah, the Chaco Taco, the frozen Chaco Taco Ice Cream Bar. It died this year and we tried to bring it back. You could bring it back. Be that one. Or you could go as a zombie this year. Which means you just simply dress as Twitter. Yeah, for six months, you've walked around lifeless without assault. Or Jack, you could be one of Elon's bankers, right? You could just pull that off. Go around the party. Just handing out blank checks to whoever asked for one. You get a billion dollars and you get a billion dollars and you get a billion dollars. Or yet is. You could go as the classic sexy interest rate. Yeah, because those interest rates, they're pretty scary right now.

Picture Jerry Powell in a bikini. But the most stressful costume challenge is a couple's costume. Combo costumes are hard for couples. So Jack and I got your back. So here you go. Go as two sunscreens. One of you goes as Trader Joe's sunscreen. One of you goes as Supergoop sunscreen. One of you spent $9. The other spent $90. Or Jack, you could go a subscription werewolves. Netflix subscriber by day. Blue subscriber on the full moon. And what if you got roommates, Nick? What are you going to dress up as that?

Easy Jack. One goes his Porsche. One goes his Porsche shop. And one goes his Porsche. Or the whole apartment could just go as guac. Because guac is always extra. If you're still not sure, just do what you did last year. Yeah.

And then all you got to do is call it a Zuckin. Facebook employees, just wear what TikTok's wearing. No one's going to judge you. No one's going to be too shocked either. Your market cap will rise. So Yeties for T-Boy 2. Tuesday, we want to know if you've got a costume idea. T-Boy podcast.

We're going to vote on the top four business-themed Halloween costumes of 2020 dues. And the winner gets the first T-Boy shirt, which is coming soon. They're going to be ready soon. Happy T-Boy Tuesday. Let's hit our three stories. Happy Halloween Eve. EVE. Fifteen years before this song, two boys from the Northeast met in the dawn.

They had an idea that caused a cultural storm. It's the Betty Boy City on. No, you know, because we've read to go. We can't wait no more. So just start the show. For our first story, if you're Ubering around today, you may see Uber's newest product. Because Uber is now selling ads in the app while you wait for that Uber. We need an Uber Halloween costume, but that's a side note.

Uber was once a disrupting battle tested, move fast, and break things startup. Uber has scars. It's got two Hulu documentaries. A bunch of government lawsuits, suspension, settlements, fines, bans. It survived the pandemic. It did discover that it could deliver food better than ever, but still it barely got through that thing. And it's still not profitable.

Adjusted or otherwise, there ain't no profits in that Prius. So Uber announced last week a brand new, really exciting division for the company. They announced a revolutionary idea, changing the world, thinking differently, Jack, and you unveil the brand new Uber idea. Uber is launching ads. Yeties, get ready to see ads in the Uber app. You're waiting for that Prius to pick you up at the corner. like it said it was gonna.

It was. Pringles ad. Pringles ad. Now, full disclosure, just this morning, as we were preparing this story, I got an ad in Uber. I got,

I saw this thing. Nick accidentally jumped in T-boy's style preemptively. Okay, so I was heading down to our studio in the ferry building in San Francisco right by the water. T-boy West Coast, H.Q. And what did I see, Jack?

Halfway there, you check the Uber to see when you'd arrive. And boom, a carnival cruises ad. A carnival cruises ad. These are known as Journey ads, because Uber knew where Nick was going. Yeah, I was going near the water to the ferry building. So Uber showed Nick what it thought was a relevant ad.

I thought I would want to go on a cruise because I was near the water, but we can work on that. Journey ads are not sophisticated yet. They need to do better targeting. They should have showed Nick like the closest salad spot because he was there for work. Jack, they'd show me a sweet green ad. I'd be face deep in a harvest bowl right now. All right. So Uber's working on Journey ads, but they're already doing classic banner ads and classic search ads within the Uber Eats app.

Yetis, if you open up the Uber Eats app because you're hungry, boom, you're going to see something very particular. Welcome to Moe! Yeah, that's a burrito ad. What do I got to do to get you into this chalupa? And if you search potato skins at the top of Uber Eats, TGI Fridays is there at the top because they paid to be above Buffalo Wild. Now we all know Buffalo Wild Wings has the better potato skin, but that's not who's paying for that space. I like that, too. But besties get these numbers.

Uber began testing ads back in 2020, bringing in $11 million in revenue. And last year, Uber did $141 million in ad sales. But now that Uber has this fancy new division dedicated to ad sales, by 2024, they hope to bring in $1 billion in ad sales. $1 billion in Uber ad sales. Now, for context, that would be double the New York Times' annual advertising revenue. And we're just talking about Uber's side. hustle here. That's right. A tech company with its side hustle would make double the most successful news company does in ad sales. Sit down, stand up, and don't show me any more Carnival Cruise ads. So Jack,

what's the takeaway for our buddies over at Uber? Where there is attention, there will be ads. The adies, ad sales. Historically, they're dominated by media companies. The places you're staring at, watching, hearing, you can't get your senses off. Radio, TV, newspapers, magazines, and eventually Facebook and Google. That's where ads. were. Old media and new media. What they had in common was your attention. So they monetized your attention by showing you ads. Today, the attention has moved to apps, so some shocking apps are now leading the advertising industry. Apple, for instance, they own your phone in the app store, so they hope to bring in $30 billion of ad revenue annually by 2026. Oh, not impressed. Amazon

is already doing $30 billion a year in ads. Is it just the business? Is it just the Or can you not search for anything on Amazon these days without being smothered in sponsored results at the time? Like six different mops are yelling at me that I got to buy their product. Oh wait, they're sponsored posts. Yet is the most popular apps and websites. They have our attention. Next, they're adding the ads. For our second story, the underwear economy, it keeps on expanding.

Joy spun Intimates launched yesterday and get this, one out of five of you are already wearing them. It's messing with your mind. All right, first of all, Yetis. We're in the era of the undergarment. The age of the undies. The year of the underwear. What's another word for like age, year, and era?

The time of the thong? We've covered this story before because Parade, the underwear startup, hit a $200 million valuation this year. Savage by Fenty. It passed a billion dollar valuation last year. Kim Kardashian skims. They passed a $3 billion valuation. Why are all these underwear and lingerie startups getting charged with

record venture capital funding. Underware, it's like the new cloud computing jack. Now, Nick and I think, first of all, it's because startup underwear, they're replacing the void of Victoria's Secret. If you make a cozy boxer short for like Mark Antreason, he's going to give you a blank check. The second real reason is because underwear has its own economy. Because everyone wears underwear.

And they wear them every day. And yet is the year of the underwear, it doth continue. We noticed yesterday a new brand called Joy Spunt. It just launched yesterday. And we dove in T-boy style. It basically covers what they call Feel Good Intimates, Pajamas, and More. Joy Spun. Based on Joy Spun ads,

it looks like the loungeware for people who are having too much fun. Yeah, like the ads feature models who are laughing in underwear more than anyone we've ever seen. We want to know what joke was told that makes them so happy. Now, this underwear company,

it fits within the broader comfort economy trend that we've been following. Right, because lingerie these days, it has fewer wires and more flexibility. Yeah, they're marketing underwear like a modern mattress company. Right, because a brassiere shouldn't have a box frame.

Now, the pricing is critical here because there's so much inflation going on. Joyce Bun prices their stuff affordably. $12 bras, for example. Exactly. They're priced less than that expensive fancy latte that Jack keeps making fun of, but I keep indulging it.

You're making inflation happen when you buy that latte name. I know he wants a sip. Yet he's nothing at Joyce Bun is priced over $35. That is the interesting part, because they're hooking you with the $10 tights. And then they're booking you with the $30 robe. But two funny things that Jack and I noticed about this new underwear startup. First of all, Joy Spun is owned by Walmart.

And second of all, one out of five American women is already wearing it. It launched yesterday. So Jack, what's the takeaway for our buddies over at Joy Spun and Walmart? Sometimes you got to fix something even if it ain't broke. All right. Yeti's the wild thing about Joy Spun? It's actually just a rebranding of an older underwear brand. Joy Spun used to be called Secret Treasures. Now it's a rebranded thing. It's called Joy Spun. And the even Wilder thing? Secret Treasures and now Joy Spun are both owned by Walmart.

And even even Wilder? Walmart's Secret Treasures was already the top underwear brand in the United States. According to NPD, Walmart's Secret Treasurer's underwear brand was bought by one out of five American women. in the past 12 months, 20%. So why on earth is Walmart rebranding one of their most impressive product lines? The way we see it, it's because Walmart seeing the threat of those new underwear brands we previously mentioned. Walmart sees that we're in the year of the undies, and it's getting nervous. So Walmart, they're willing to do something that few other companies are willing to do.

They're going to fix something that ain't broke. Because maybe it ain't broke yet. Now, a word about our sponsor, Robin Hood. You know, honestly, your salad, it says so much about you. Nick, you like to blaze your own trail at the salad bar. Yeah, I'm ordering a salad. I go off menu, man, like a combo of kale and croutons that has never been made before. Me?

I'm not reinventing the wheel. I like to go classic. You're Sweekerian thinks it's a good combo. Jack's not going to change that. Kind of like investing strategies. Someone to build a custom portfolio of stocks, crypto, and options. Others don't want to reinvent. Just give me the most standard ETF.

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By the way, this podcast is not owned or part of Robin Hood, and we are not employees of Robin Hood. For our third and final story, Red Bull co-founder Dietrich Madishitz just passed away. We're looking at how he didn't make energy drinks. He made energy. All right, Jack, let's go back to 1984. There were no energy drinks. You want an energy drink? Is that coffee, tea or like soda? Well, that same year, 1984, Austrian toothpaste marketer Dietrich Madishits traveled to Thailand and he noticed something different. Dietrich Matashets traveled to Thailand for his toothpaste business, and he had jet lag. Naturally. So when he got there, he said, hey, I need a cure, and the locals gave him something called Crathing Dang.

Jack, what does Crathing Dang translate to? It translates to Red Bull. Red Bull. So Dietrich Modisitz went in 50-50 with this guy in Thailand, started a company, it eventually became Red Bull. It remains independent today, although Red Bull just lost its godfather, Dietrich Matashitz at the age of 79. Now, we're not going to talk about Red Bull the drink. No, we're not. Because it isn't really a drink.

Red Bull is one long marketing achievement. And Jack and I decided to break down Red Bull into four marketing chapters. Red Bull started scrappy back in the 80s. Yeah, at first, they couldn't afford ads at Red Bull or billboards or like even salaried workers, basically. So they created what we think is the first ever university ambassador program. Jack, it's not a college quad unless he got three sophomores flinging cans of Red Bull like their Oprah. Now, after they made a few bucks, they went where others didn't go. And that's the second chapter.

Go where others don't. Red Bull had some money, but they didn't go after Michael Jordan or Magic Johnson. They went after Michael Who and Magic What? Red Bull invested in alternative sports. Like if you're a professional log roller, then Red Bull would like a phone call with you. They hosted cliff jumping tournaments, air shows, parkour, kayak derbies, Formula One, more kayak derbies. Boom, nothing that involves balls. Like if Tom Brady can throw it.

not interested. If a board's involved, Red Bull's interested. Which led to the third Red Bull chapter, Go All In. Red Bull doesn't buy the naming rights to a stadium. Red Bull buys the entire team. That's right. Red Bull didn't just sponsor teams. They actually bought teams.

Like they bought four soccer teams, one in New York, one in Brazil, one in Germany, one in Austria, and then they ran them. They ran the team like George Steinbrenner used to run the Yankees. I've never heard of a company owning a professional team like that. Me neither. Like forget sponsoring. They created a whole network of soccer teams within different leagues. The New York Red Bulls, just outside of New York City and New Jersey, owned and run by Red Bull. Operated by Red Bull. In fact, their Formula One racing team is the most profitable out of all the Formula One racing team. This past weekend's race in Austin, they clinched the

championship this year right after Dietrich Modisht's died. Which leads to the fourth marketing chapter of Red Bull, invest in joy. Have you seen a fluke talk, Nick? I have barely, but I like the way it sounds. Fluke talk roughly translates to fly day. Yeah, fly day, as in a new thing Red Bull invented where you fly some stupid contraption off a cliff and like usually survive. It's inspired by Leonardo da Vinci's sketch of like a flying human machine.

And you just land in the river and everyone watches and has a great thing. There is no profit purpose to the Fluke tag. And yet Red Bull sponsored and created the Fluke Tag. I saw it when I was 14. I'll never forget it. So Jack, add all that up and what's the takeaway for our buddies over at Red Bull? The ultimate goal of every marketer, turn your product into a feeling. Yeties, Red Bull isn't a drink, it's energy.

From the start, Red Bull spent big to become the energy company. Big. They spent a third of their revenues. They put it into these marketing events. Yeah, Red Bull, it isn't something you drink. It's become something you experience. And once it gave people the feeling of energy and adrenaline, sales ensued. So last year, they sold 10.

billion cans of Red Bull, and they remain an independent company and a private company. The genius of Dietrich Modishtzschitz wasn't the product. No. It was the feeling. Jack, can you whip up the takeaways for us for T-Boy Tuesday? Uber is launching an ad division. Yeties, if you're looking at an app, it's going to get an ad. For our second story, Joyce Bunn launched yesterday, and one out of five women are already

wearing them. Walmart fixed it even though it ain't broke. Yet. And our third and final story, Red Bulls co-fell. under Dietrich Modeshitz just passed away at 79. Red Bull isn't a product. It's a feeling. Now, time for the best fact yet. This one sent in by legendary Yeti, Mara Chabin from lovely Los Angeles.

Push and black. Here we go. The world's total population is now more than 7.5 billion people. Now, Yetis, besties, that may make you feel very small in a big world out there. But if every single human on Earth stood shoulder to shoulder, we would all fit within the 500 square miles of Los Angeles, California. No way. Insane. And I hear the traffic on the 405 is only getting better.

L.A. must be a huge city. Or L.A. must have some really small people. No, the whole world must have small people. Haven't you seen Lord of the Rings? People are shrinking. That's Mr. Hartfoot to you. Yeties, happy T-Boy Tuesday. And remember, if you've got a Halloween costume to solve that costume decision paralysis, We want to hear it at T-Boy Pod.

Business-themed costume ideas. Hit us up. We want to hear them. If you know, you know. And before we go, happy 31st birthday to Yeti, Alicia Leon in lovely Melrose, Massachusetts, just outside Boston. And happy 27th birthday to Katie Karen,

the Marathonista, over in San Francisco. And Andre Hernandez has got a birthday in Jerupa Valley, California. Happy birthday to Lindsay Pastic, turning 35 in Oak Park, Michigan, and listening since we were, market snacking. And big T-boy vibes over to Abyshech-Ariven, who's powering through his ankle injury in Fort Worth, Texas. And congratulations to Manakshi and Abashek on their one-year wedding anniversary in Seattle, but they're probably traveling somewhere really cool right now. Vancouver,

it's beautiful. And Barrett Nelson, congrats on the new job as a software engineer. And congratulations to Rose Al-Aloami for getting a new job down in Austin. And Ryan C., congrats on the new job at Chase Bank in Chicago. Nick, remember yesterday's best fact yet from John Killen Jr., Minneapolis guy? It was like the best fact yet. Remember that sky tunnel thing that connects all of Minneapolis? About Minneapolis because it's so cold. Well, Sweet Green just opened their first locations in Minneapolis.

Congratulations. Congratulations to the Sweet Green managers in Adina and the North Loop of Minneapolis. Enjoy that kale no matter how cold it is. Always get the dressing mixed in. Never on the side. And to anyone else celebrating something today, make it a tea boy. Celebrate the wins. This is Jack.

I own stock of Amazon and Nick and I both own stock of Apple and Robin Hood. Now, a word about our sponsor, Robin Hood. Okay, so Jack and I both worked in finance for a while. And we know the six-monitor Bloomberg jockey with charts, numbers, balances, and more charts. They got coffees in both hands while they're executing some complex trade on a soybean future. Well, we're not trying to impress with our mission control trading center. Just give us an app, please. Robin Hood, with its mobile first and intuitive design, it lets you trade with just a few quick taps on their app.

And even if things still don't seem easy, Robin Hood has your back 24-7 with its live and robust customer support. If you're not investing on Robin Hood yet, to get started, go to Robinhood.com slash t-boy and choose your free stock. That's Robin Hood.com slash T-B-O-Y. Limitations apply. Robin Hood Financial LLC, member SIPC, all investments involved for us. By the way, this podcast is not owned by or part of Robin Hood, and we are not employees of Robin Hood.