The Best One Yet - 🏠 “You’re grounded” — TurboTax’s forbidden word. Netflix gets WWE Raw. Starbucks barista championships.

Episode Date: January 24, 2024

TurboTax was just banned from using the word “free” — but that word is how TurboTax won 71% of the tax prep market.Netflix just dropped $5B to live-stream World Wrestling Entertainment — And we think Netflix’s next target should be the NBA.Starbucks just announced its first ever North American Barista Championships — Call them the Goodwill Games… because they are.$SBUX $TKO $NFLX $INTUSubscribe to our newsletter: 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 Wednesday, so VK Wednesday, January 24th. And today's pod, it is the best one yet. It's the top three pop business news stories you need to know today. Unfortunately, it's also a bankrupt podcast. We've bankrupted ourselves, Jack. Because yesterday, we challenged you to solve a Rubik's Cube before we ended the episode, and we'd send you a free hat if you did. Well, it turns out, a lot of you know how to do Rubik's cubes very quickly, Eddie. We might have made a huge mistake. Jack, I'm checking the numbers. We're going to have to change some things, man. Congratulations to Sean, Jackie, Jason, and Baggarashi. If you got a Rubik's Cube, please put it down. We can't afford to send any more hats out. Condolences to our finances. Let's set our three stories. What do we got, man? For our first story, Netflix is becoming the official home of WWE Monday Night Raw. So Jack and I have an idea for Netflix and LeBron

James. For our second story, it's almost tax season, but TurboTax just got the worst news ever. TurboTax has been grounded. Turbotax is forbidden from saying the word free. And our third and final story is Starbucks. Starbucks just announced the first ever North American barista championships. But we're calling this barista tournament the Goodwill Games. Besties, before we hit that wonderful mix of stories. What a mix of stories for today's show. Love the mix, Jack. For all those who celebrate, happy peanut butter day. And a happy peanut butter day to you, Jack. Because it's National Peanut Butter Day. And our

economy doesn't run on Duncan. We run on peanut butter. Get this, Yetis. 90% of American households have a jar of peanut butter on one of their shelves. Nine out of ten of you. I've spooned deep and some Skippy right now. Nine out of ten of you are jamming out with a Justin's peanut butter. Hold the jam.

Just the peanut butter. But we looked into the numbers. There's no spread that both unites us and divides us like peanut butter does. And he's peanut butter. It's peanut butter. It's the most popular butter in America, and yet America is divided on peanut butter lines. According to the National Peanut Butter Board, 56% of Americans prefer creamy peanut butter, and 44% prefer crunchy peanut butter. It's not red state, blue state, it's smooth state and chunky state. And there was a survey

conducted by a peanut butter company, creamy peanut butter people are different than chunky peanut butter people. Turns out your peanut butter choice determines your personality people. Mick and I jumped into the data. If you prefer smooth peanut butter, you are more likely to be introverted, more likely to get speeding tickets, more likely to book spontaneous trips, take fewer risks at work, and stay in on a Saturday night. But if you prefer crunchy peanut butter, then you are more likely to be goal-oriented, more likely to run marathons, more likely to file your taxes late, watch Game of Thrones, arrive late at work, and are 12% more likely to fall in love at first sight. So yet is, whether you're a crunchy monkey or a groovy smoothie. Peanut butter, it's an economy and it's an identity. Now, I only go for the oily peanut butter. I want to mix that stuff up and get it all in there.

Jack, you want it smooth, but you can eat some oil in there. That's how you know it's legit. Now, you know, it's legit. Now, you get more oil in there. Now, Nick, on the other hand, don't you add a supplement to your peanut butter? Jack, I add a little olive oil to my almond butter, my peanut butter. I don't know what that's all about. You want to make your skin glisten. You put a little olive oil in that Skippies, Jack.

Besties, happy national peanut butter day. You deserve it. I get the reduced fat, and then I have it. Add in the olive oil. So weird. Let's in our three stories. Extra virgin jiff. Fifteen years before this song.

Two boys from the Northeast met in the dorm. They had an idea to cause a cultural storm. It's the bad ass it. I don't even think they need to practice. 50% that's a fat tip. Tea Boy City on your at list. If you know you know because we're ready to go. We can't wait no more.

So just start the show. Start the show. For our first story, Netflix. just bought the exclusive rights to stream WWE's Monday Night Raw Wrestling. Pro wrestling is the first, but not the last, of Netflix's live sports journey. But Jack, let's kick off this story is by going to the numbers. Netflix announced earnings last night, and we were watching. What did we see? It was their second best quarter for new subscribers in company history.

13 million people signed up. That sent the stock 9% higher, but Jack and I don't want to talk about that. We found something even bigger, which was their announcement earlier in the day that Netflix is entering live sports with the WWE. The eddies for 31 years. Monday night, raw wrestling has been broadcasting fully shaven, topless men, straight to your TV screen. Jack, you get up close. You can smell the sweat on those guys, man. You can smell the pile drivers, the tombstones, the steel chair cage matches. And they did it all in some lovely Lulu lemon black leotards. And not a single body hair on any of those reds. That's true. That's true. Although I didn't grow up watching much wrestling Jack. Full disclosure,

I should admit that. Dude, I used to stay up past bedtime to watch Hulk Hogan do his leg drop. And Randy Savage do his elbow drop. Stone Cold Steve Austin, the original cold plunge. Oh, here's the news. Starting in January 2025, WW's flagship show Monday Night Raw will be streamed exclusively on Netflix. In fact, former wrestling superstar The Rock went to the New York Stock Exchange to announce this huge Netflix deal. Do you smell what the rock is streaming? Here's what Jack and I found fascinating about this story. This happens to be the most expensive thing that Netflix has ever done.

By far. This is a 10-year streaming deal that costs Netflix $5 billion. We repeat $5 billion. Yeties, for $5 billion, Netflix could have acquired Lyft. That's right. Netflix could have its own ride share. company. Instead, they're getting the rights to wrestling. Here's what Netflix gets for that $500 million a year that they're paying the WWE. The key thing that Netflix gets is the holy grail of streaming.

Because nothing draws viewers today like live events. So Netflix can win over the late adopting cord cutters out there who really just want live sports and live entertainment. And here's what the WWE gets besides the $500 million a year. Wrestling is getting the biggest billboard on earth with this deal. Netflix's homepage is a huge marketing boost seen by 250 million global subscribers. So every Monday night, WWRWA is going to be the first thing that you see when you open your Netflix app. And that is why WWE's stock, which is ticker symbol TKO, jumped by 16% on Tuesday. That's a 16% stock jump that you can't script, Jack. So Jack, what's the takeaway for our buddies over at Netflix? The WWE just went to streaming. Next up.

Up, the NBA. Yeties, Jack and I have been keeping track here. First, it was Thursday night football. Then it was Major League Soccer. And now it is pro wrestling that have all gone exclusive to streaming. What's next? We think the NBA. Guess what, Yetis, it's perfect timing.

Because the NBA's media contract expires after next season. And we think they should sign with Netflix. Why? Because the NBA is young. It's international, which is just like Netflix. The NBA's audience. It's more international. than the other four major sports leagues.

And the NBA's audience is younger than the other four major sports leagues. The NBA needs to cater to young international Netflix streamers, not the old American cable subscribers out there. For all the reasons that the Netflix and wrestling deal make sense, it's even more so for Netflix and the NBA. So the way we see it, WWE just went to streaming. The NBA should be next. For our second story, TurboTax was just banned from saying the word,

free in any of its ads. They may not say free. TurboTax was just grounded, but it's got a huge bedroom. Yeah, it is a couple of years ago. TurboTax had this commercial on TV. You may have seen it. It's a boy competing in a spelling contest. Let's play the take.

F, R, E, E, free. That's right, TurboTax Free is free. Free, free, free, free. Because TurboTax is a free tax software. It's free to file your taxes. It's free. It's free. Except it's not. It's not.

If you sold stocks last year or drove for Uber last year or collected unemployment last year or a whole bunch of other situations, then TurboTax is not free. If you had anything but the most basic of tax filings, then you were forced to upgrade to the premium costly version of TurboTax. And they only tell you that after you. you've already done a bunch of work, so you're not going to switch to another option. You're on page 47. You spent two hours and they're on boom. You find out you've got to pay 4899. In fact, by TurboTax's own admission, only 37% of Americans are eligible to file for free at turbotax.com.

And yet, TurboTax had a commercial where the word free was basically the only word they said. Well, our buddies over at the FTC, the Federal Trade Commission, their job is to protect us consumers. And the FTC just banned TurboTax from ever uttering the word free in any of its ads. The FTC called TurboTax's conduct egregious. Outrageous. Saying that they blanketed the country with deceptive ads. Jack, we have never seen this before, have we? Like, TurboTax just got grounded like a misbehaving child.

We weren't allowed to swear when we were kids. No, we weren't. TurboTax isn't allowed to say the word free. TurboTax, go to your room, no dessert. They're only allowed to say free if they clearly disclose the percentage of customers that actually do qualify for their free service. Otherwise, if you say the word free turbotax, the government is going to wash your mouth out with soap like my grandmother did. Now, TurboTax and their owner into it appear furious at this ruling, just like we were when we got grounded when we were kids. Yeah, we really like dessert. It's not fun not getting dessert.

TurboTax says that this ruling reflects a biased and broken system. TurboTax is basically like, yeah, my sister started it. She kicked me under the table. But on January 1st, a few weeks ago, TurboTax debuted a new TV commercial for this year's tax season. And it clearly says that 37% of taxpayers qualify for their free services. And then they finish with see if you qualify at turbotax.com. So it looks like TurboTax found an easy fix. Don't say free unless it's the whole truth. Otherwise, you're grounded.

So, Jack, what's the takeaway for our grounded buddy is over at TurboTax? TurboTax got sent to its room, but it's got a huge room. It's got a huge bedroom. Ladies, of the top five tax prep companies in the United States, turbotax dominates this industry. Turbo tax controls an estimated 71% of the U.S. tax filing market. Sit down, stand up, and grab your W2, Jack. That's more than double the market share of H&R Block,

which is number two in the category. Well, how did TurboTax get so huge? It's because of those ads that the FTC complained about that were all about the word free. Nick and I jumped on YouTube. we saw that TurboTax has bought Super Bowl ads in each of the last four Super Bowls. That's power you can't buy, man. Actually, you can buy it with a lot of money. TurboTax did. And it won them basically a monopoly on the whole month of April.

So yeah, it's added all up. And Jack and I have never seen this before. A company was forbidden from using the word free. But that ruling reveals just how big TurboTax has become. TurboTax got sent to its room. But it's got a huge room. For our third and final story, Starbucks just announced, get this, the first ever North American barista championships. That's right. Starbucks is hosting a barista tournament. Because sometimes good PR is really about HR. Now, Jack, you know I'm not a coffee guy.

I just finished my chai mocha Roybus latte. But as a coffee guy, can you drop those wild stats we discovered about Starbucks last year? There are so many different ways to customize a Starbucks beverage. It's insane. To be precise, ladies, there are 19 different variables involved in a Starbucks cafe latte. It's not just size, type of milk, and type of froth. Bloomberg crunched the numbers when you add in the vanilla cream brulee strawberry mixes. There's actually 383 billion different possible cafe lattes at Starbucks.

383 billion options. Yeti's barista, that is a demanding job. So Starbucks is honoring them with the first ever North American barristers. championships. Yeties, this is like the Super Bowl of Starbucks. The Olympics of Lates. This is the World Cup of White Foam. It feels like Harry Potter's House Cup tournament meets hunger games with a splash of oat milk.

He said, oh milk for Jack. Own milk for Jack. This Starbucks barista bracket is so big, it dwarfs March Madness. Again, Yetis, this is a national tournament of baristas making coffee sponsored by Starbucks. Each American and Canadian Starbucks location can nominate one barista from their location to go off to the tournament. This is going to be big. We're talking 15,000 participants. That's 15,000 seeds, Jack. The district competition is in March. And the regional competition begins in April. Nationals are in May at Starbucks's hometown of Seattle, Washington.

And the winner doesn't even get crowned until June, which is basically PSL season. Now, the early rounds of this competition are concocting some Starbucks classics. Here are the test. They're going to ask you to make an orange mocha frapicino with a double pump of nitro caramel and they're going to see who does it best and who does it fastest. With the knockout stages, they're going to test your creativity. The final stages are when the barista has to present their own original recipes to the judges and go like off menu at this stuff. And the winner gets a trip to Costa Rica where Starbucks has a secret research and development hacienda. Jack, you think there's going to be a bonus round where you got to make latte art?

I don't know, but the winner should get the Stanley Cup, literally. Yeah. Hoist the Starbucks Stanley Mug if you win this tournament. At the very least, whichever barista wins this, they should name a signature drink after them. Big Ralph's half-calf? Yeah, we'll take two. So, Jack, what's the takeaway for our buddies over at Starbucks? Sometimes PR is really about HR.

Yeah, he's the way we see it. This competition is really the Goodwill Games, Barista Goodwill. Because Starbucks has been struggling with worker relations recently. Specifically, baristas have been unionizing. Last year, 8,000 Starbucks workers voted to unionize. They want better pay. They want better hours and they want less complex drinks. It was so alarming to Starbucks that they brought back Howard Schultz for a third tenure as CEO.

And that explains the real strategy behind these barista games. It's actually about worker relations. Starbucks isn't putting this tournament on ESPN. I mean, although we wish they would. They're putting baristas on a pedestal to show them appreciate. Bestie, Starbucks is hosting the barista championships to win goodwill from baristas and maybe, just maybe, stave off more unionization. Because sometimes PR is really about HR. Jack, can you whip up the takeaways for us for Saviche Wednesday? What do we got, man?

WWE's Monday Night Raw signed a 10-year exclusive deal with Netflix. WWA has gone streaming, but we think the NBA should be next. For our second story, it's TurboTax. They are banned from using the word free in their commercials. TurboTax is grounded. Go to your room. But they have a huge room with like a bunch of video games and everything you could ever want. Like a big TV and like all this food.

For our third and final story, the North American Starbucks championships are going down this spring. But sometimes good PR is actually about HR. But besties, this pod's not over yet. Here's what else you need to know today. First, the New Hampshire Republican primary happened yesterday with Nikki Haley taken on Donald Trump to give him a run for his money. We don't have the results yet. But in other news, someone created fake audio of Joe Biden in a robocall telling people not to vote. Yeah, it is brace yourself for more AI impersonations this election season.

And second, stocks are at a record high, but Bitcoin is no longer at a record high. Bitcoin is down 20% since the approval of that long-awaited Bitcoin ET. Why is it down exactly, Jack? No one knows, Nick. No one knows. And finally, Oscar nominations just came in, and Oppenheimer dominated. Oppenheimer got 13 nominations. Marvel Robbie?

She got robbed. She didn't get an Oscar nomination, although Barbie did get eight. Ken got zero. No, actually, he got a couple. Oh, Ken got a couple. Good for Ken. Yeah, he got a couple. He got one for his song and just for his role in general.

There you go, Ken. Now, time for the best fact yet. This one sent in by Patrick Varutza from New York City, but living in Pasadena. And, Jack, I happened to run into Patrick just the other day in lovely Los Angeles. Patrick told Nick Astoria about 1987 when the NASDAQ stock exchange suffered a power outage, suspending trading for a full hour. It turns out that outage caused 20 million shares of stock to not be traded. Here's the wild part.

You know what caused that stock market disruption? Jack, what caused that stock market disruption? A squirrel. A squirrel. A squirrel. A squirrel chewed through a power cord and broke the stock market for a day. What a delightful reason for that problem. Here's the shock yet.

That's not the last time a squirrel stopped trading on Wall Street. What? No. Fast forward to 1994 and the NASDAQ exchange has to stop trading again because a squirrel triggered a power outage. Up in Connecticut, right? Yeah, it's these squirrels. I mean, we don't even know if the squirrels were harmed in the making of these power outages.

But we do know that those squirrels were the stars in the movie, Ice Age, which was inspired by this whole debacle. And we're wondering if there's some inside trading going on with these squirrels, Jack. Wink twice if I should buy the acorn. What were you shorting, Squirrel? What were you shorting? Yeties, you look fantastic for Covee Wednesday. And remember, if you're a creamy peanut butter person, you're probably in the office.

And if you're a chunky peanut butter person, pay your taxes on time. Come on. Either way, just pour a little olive oil in that peanut peanut butter and thank us later. Trust us it's going to taste better. I do not endorse that recommendation. I don't endorse that. Skippies for life. Yetis, if you want to grow this show, remember to tell your friends H-Y-H-T-V-O-I.

Have you had the best one yet? If you know, you know. Nick and I, we'll see you tomorrow. And before we go, Navy SEALs, Christopher Chambers, and Nathan Gage Ingram were killed during an operation off the coast of Somalia last week. Let's take this as a reminder to thank all the service people in our lives and send our thoughts to those families. Now, Yetis, time for some shoutouts. Chris Gows and Maggie Weiss are a couple of Yetis who are probably commuting together right now. And they just got engaged in Hornell, New York.

Congratulations, guys. Let's see some ring picks. Congratulations to Adam Engelman, who just drove across the country to move from Washington, D.C. to Los Angeles. And Kieran and Brianna are moving into a new place together, not too shabby, down in Orlando. And congratulations to Megan Bevington and Abby Wynne. in North Carolina, who four years ago started the business together, Happy Kids Therapy. And a happy birthday to Haley Gibson, who's celebrating over on a wonderful trip to Thailand. And happy birthday to Michael Crawford.

Go Blue Baby, who's celebrating down in Muncie, Indiana. And Simony Hindus turned in 27 years old and has been a Yeti since they were snacking. If you know, you know. Happy birthday to Nico Cardenas, who's celebrating also paying off a huge loan. Something to celebrate. In Key Biscayne, Florida. And Jedrick Mazin from Gilbert, Arizona, is living in South Dakota, but it's turning an amazing 38.

And to anyone else, celebrate something today, make it a T-boy. Celebrate the wins. This is Jack, I own stock of Netflix, and Nick and I both own one Bitcoin, whose name is Ben. The original cold pline. I have no idea what you're even talking about, but I'd love it. You're talking about the stone cold stunter? That was his signature move.