💆‍♀️ “AI-ahhhhhh” – Equinox’s AI masseuse. Robinhood’s QB sneak. Millennials’ tantrum tax. +9/9/9 Hot Dog strategy.

0:28This is Nick. Okay, we're basically just having brunch and just talking baby names the whole time. We got to finalize this thing. Wait, I thought you already had. I know, I thought I'd do, but there was a left field idea. Yeah, we're still crowdsourcing names. If you got a baby name idea, drop it in the comments for us for the brunch. Wait, are you going to call her Skibity? It's Skibity, Jack. Three stories for today's team boy. What do we got on the Pop Biz Pod, Jack? For our first story, Equinox, the Lux gym chain, has installed AI robot masseuses at 60 of their locations. But Jack and I think AI robots are actually a feel-good story.

1:05Literally. For our second story, Robinhood just launched football betting. I mean, football predictions. Can't say betting. If we still were working at Robinhood, legal would have us in their office right now. Robinhood just pulled off the quarterback sneak of finance. And our third and final story, get this. millennial parents spend up to$147 ,000 for the first five years of their kid for child care. Jack and I call it the tantrum tax, and solving this child care crisis starts with business. But yetis, before we hit that wonderful mix of stories. Whoa, fantastic mix of stories, Jack. Perfect mix to go into the weekend with.

1:47This weekend, you may be challenged to the 999 challenge. Nine, nine, nine. Nine hot dogs, nine beers, nine innings. Can you consume nine dogs, nine brewskis in nine innings of baseball? It's kind of like the ice bucket challenge or split in the G, but with a side of Cracker Jacks. The triple nine is going viral across stadiums from Wrigley Field to Yankee Stadium. Can you crush 2 ,664 calories watching the game while players burn as many calories playing the game? Although Jack, Babe Ruth kind of did the challenge and play the game at the same time, didn't he? He didn't use steroids. He used Schlitz.

2:26The 999 challenge is the ultimate celebration of athletic gluttony. But this 999 challenge is becoming more challenging. Yeah, the challenge just got challenged, right Jack? Because first, baseball's gotten faster with the pitch clock. So that's 30 fewer minutes to finish the food and beer of the challenge. Second, baseball is getting more expensive to watch. Yeah, the price of nine beers and nine dogs at a San Francisco Giants game,$227.69. I hope they have a buy now, pay later option. And third, drinking alcohol in America just reached an all-time low. I mean, you were already going to be that guy, Jack.

3:07But now you're really going to be that guy. Yeah, the kiss cam is going to censor out whatever you're doing down there in the box seat. I'm off camera, man. I'm off camera. And it doesn't count. Unless you eat all nine buns. But yetis, don't forget that the 999 challenge isn't just for baseball, right Jack? Have you heard of the 999 spa challenge? Well, you probably haven't because we just made it up. Nine sips of rosé, nine mini cupcakes, over a 90-minute facial. Challenge accepted. Yes. Put it on the company card. We'll take two, Jack. Let's hit our three stories. 15 years before this song, two boys from the Northeast met in the dorm.

3:45They had an idea to cause a cultural storm. It's the best one yet, but the best is the norm. Jack Nick, that's it. I don't even think they need to practice. 50%, that's a fat tip. T-Boy City on your at list. If you know, you know, cause we ready to go. We can't wait no more, so just start the show.

4:07Start the show. First, a quick word from our sponsor.

4:18Monarch. Yeah, it is. You know my first money lesson? It was where to put our lemonade stand. I was wondering, it was on the Upper East Side. Do we do it on Lexington Avenue or Park Avenue? Wait a second. New York City has lemonade stands on the sidewalk? They didn't. We were pioneers, Jack. Lexington Avenue is more commercial. Park is more residential. So what did we learn, Jack? Families are willing to pay more for lemonade. So you set it up on Park. Yeah, we did it on Park. Besties, no one gives you financial lessons in life. You end up figuring most of it out as you grow up. But we love Monarch because it's like a financial advisor in your pocket.

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5:11Yeah, because we pioneered it for him, Jack. Zach Restys, write your own story with Monarch. Use code T-Boy at Monarch.com to get your first year of Monarch Core half off at just 50 bucks. It's 50 % off your first year at Monarch.com with code T-Boy. Zip Recruiter. All right, Yetis, you got to hear this. Jack, can you share that story about your wet bathing suit in Italy? So my hotel was so amazing. They came in to clean up my room one day and they saw it in a wet bathing suit hanging from the shower head. And they were like, that's not kosher, Jack. We don't do it like that at this hotel. So they hung it very elegantly on a clothes hanger.

5:42and I was so impressed when I arrived back in the hotel room. It was like a pastry, besties. That works for the best hotel in Italy and for the best job candidates anywhere. So if you're hiring, great candidates go the extra step too and they tell you why they're interested in your job on ZipRecruiter. It's how they stand out from the others. And right now you can try it for free at ziprecruiter.com slash tboy. ZipRecruiter's powerful matching technology finds qualified candidates quickly. And the candidates tell you in their own words why they want your job. That's why ZipRecruiter is the number one rated hiring site based on G2.

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6:33For our first story, the big new thing in AI, massage robots. So we gathered the reviews, the financials, and the details on these masseuse bots. And they show the optimistic outcome of an AI world. Yeti's Equinox Gym. It is owned by the real estate giant Related Properties. The gym last valued at$8 billion. They also own SoulCycle. Yes, they do. But besties, this Balenciaga of the bench press has a new feature right over there by the Pilates studio. Here's the news. Equinox has added robot masseuses. I think it's called RoboSuses, Jack. Basically, the C3PO of the Swedish massage. They're at 60 Equinox gyms and growing.

7:20Now, we should point out each of these AI robot masseuses is made by a startup called Escape. This bot maker raised$83 million this year, and they're now valued at a quarter of a billion. And they are expanding from Equinox gyms to Four Seasons hotels. Basically, they are scaling the AI deep tissue, baby. If you live near a boutique wellness center, they've probably got one of these too. For besties, here's what Jack and I find fascinating about this story. You see, most AI robot technology is not consumer-facing, right, Jack? For example, Amazon has nearly one million robots, but they're all working in the warehouses.

7:57So to us, an AI robo masseuse is the rare robot you could actually encounter the next time you got some tightness in your back over there. Now, this is such new technology, we should explain how it works. These are both robot, which are the hands, and artificial intelligence, which is the brains of the robot. Although it's not a human form. It doesn't have legs, a body, and a head. It's just two robotic arms that come out from under the table, like the thing that performs surgery on Anakin Skywalker to turn him into Darth. It is borderline scary, but here's the surprise. Shockingly, no. You cannot just strip down naked in front of your robo masseuse.

8:35Yeah, it's not as brisque as you think. You have to wear specialized special clothing for the massage. Escape gives you stretchy spandex gear so that the robot camera can build a 3D model of your body and know what to target. And that spandex is also anti-friction for when the rubbing begins. No lotion here. Now, once you're on the table, you're facing down over a floating screen that shows you where the bot is kneading and where it's going to go next. Because you might not be comfortable with a robot. It's nice to know what's happening next. It's an intimate experience, but here's the catch. This robo masseuse only does your shoulders to your knees.

9:07Your neck, head, and feet are considered too sensitive at the moment. But that screen that's lying beneath your face, it also lets you adjust the headrest if it's too high or too low, lets you adjust the music and it lets you control the pressure, more or less. Although you didn't even mention the best part, Jack, did you? Oh yeah, there's no awkward small talk. Yeah, it's not like, uh, yeah, I'm from out of town. I assume you are too. Now let's talk pricing. The Equinox charges $60 for a 30-minute massage from one of these things, which is 48 % less than the human massage option if you include the tip.

9:38That's right, this T-1000 robo masseuse doesn't get a tip. But for Equinox, these masseuses have generated some revenue. $23 million in just the first six months of operation. Equinox has done 400 ,000 AI robo-massage sessions already. So if robots are on pace to do a million Swedish massages this year, should the massage therapy industry be scared? Is no job safe or sacred right now, Jack? Actually, we have a surprise take on this. So Jack, What's the takeaway for our buddies curious about AI? When it comes to the economy, robo-AI massages hit the sweet spot. Yetis, the immediate concern about any AI robot is that it's zero-sum.

10:23It'll take human jobs and replace us. But the massage industry is an interesting example because there's a shortage of masseuses. Yeah, Yetis, have you noticed you can never book the massage time you actually want? Well, it's because there are 29 ,000 unfilled positions for massage therapists right now. Even though there's high demand for massages and low supply massages, and that's pushed the price of a massage up, it hasn't drawn enough people into the industry of massage therapy. So, AI masseuses are a rare example of AI bots doing a consumer job humans don't want to do. The AI masseuse isn't taking human jobs.

11:00It's filling a gap in the labor market. Plus, we think this could also increase the size of the whole massage market. Like, we all love massages, but it is an expensive special occasion thing right there. Robots can do them cheaper, though. So they might offer a 20-minute massage for$20, something a normal human-run masseuse wouldn't do. Look, besties, sometimes you want a two-hour spa experience. Sometimes you just want a 20-minute backbuster. That's why when it comes to the economy, robo-AI massages could hit the sweet spot. For our second story, to quote the great artist Hank Williams Jr., are you ready for some football?

11:40Because Robinhood is. Get this, the stock trading app just launched prediction markets so you can bet on pro and college football. Don't call it betting, Nick. It's not betting. Oh, I shouldn't have called it betting. I forgot. I forgot. I'm sorry. We call it a financial QB sneak. Yeah, it is. This Saturday, Stanford is playing Hawaii in college football's opening weekend. Neither team, by the way, is ranked. But we know who's more likely to win. It's Hawaii. And we know because of Robinhood's prediction markets. Because on Robinhood, you can now buy a futures contract for either Stanford or Hawaii to win that one game.

12:14And if your selected team wins, the contract is worth$1. That's how prediction markets work. Yeah, well, let's break it down a little further, Jack. How did the numbers go out there? Well, Hawaii's contract is 56 cents right now, and Stanford's contract is 45 cents. If your team wins, it's worth a dollar. That's how you make money. Robinhood users are betting that Hawaii is going to win. Oh, shoot. It's not technically or legally betting. They are predicting. Because the news, Robinhood announced on Tuesday this predictions market for pro and college football. Just in time for touchdowns and tackles returning to your living room this weekend.

12:49Okay, but Jack, let's channel our coach Andy Reid here and go full financial philosopher on this thing. Gambling versus prediction markets. Yeah. Is there a practical difference? Not really. Is there a legal difference? Absolutely. Because besties, online gambling has exploded since the 2018 Supreme Court decision. DraftKings is worth 22 billion bucks now. That's like five lifts. But sports betting companies like DraftKings are highly regulated and shockingly highly taxed. Get this. Licensed sports betting apps in New York, New Hampshire, and Rhode Island pay 51 % of their revenues in state taxes.

13:2951 %? That's like the highest tax in this country on anything. We repeat, over half the money DraftKings makes in the state of New York on your bets end up up in Albany. But what Robynon's offering is technically not that. They're offering prediction contracts powered by Kalshi. Now, you got to know prediction contracts during the 2024 election when they helped forecast who would ultimately win. You see, Kalshi found a clever workaround. Even though, like gambling, you put money on a speculative event and hope that your pick wins. What Robinhood's offering is technically an event contract. So it is subject not to gambling regulation, but to financial regulation.

14:09Financial regulation is less onerous and less costly and way lower taxes than gambling regulation. And that is why Robinhood can suddenly offer this football betting. Not betting. I mean predicting and bypass those state-by-state gambling laws. It's like a QB sneak. That's what they're pulling off here. Yeah. It's like a tush push. And they're sneaking right past all the regulators who are trying to stop them. So Jack, what's the takeaway for our buddies over at Robinhood? Putting a bookie next to a financial advisor, that's mixed messaging. Now, Yetis, as Robinhood shareholders and former Robinhood employees who sold a company to Robinhood, Jack and I see the opportunity that Robinhood is pursuing right here.

14:51Sports betting is a huge industry, and Robinhood found a way into it that sneaks past the costly regulations. QB sneak. But you know what? Jack and I also can't help but notice that the messaging has a bit of a contradiction here, right, Jack? On the one hand, for a few years now, Robinhood has been pushing to become your number one financial firm. They got bank accounts, credit cards, even retirement accounts, in addition to stock and crypto trading. But on the other hand, Robinhood's now offering the same thing as your neighborhood bookie. You can put your next paycheck on the Red Sox and let it ride.

15:23When we worked there, we noticed Robinhood hated when it was described in the press or compared to gambling or casinos. Robinhood never wanted to be compared to gambling. They wanted to be seen as a legit financial institution that they are. But setting up sports betting within this financial app, it undermines the message that they've been working on, that Robin Hood is your trusted financial institution. Do Americans want their sports bookie in the same building as their financial advisor? Now, a quick word from our sponsor. Built. Yeah, it is. Full disclosure. I used to own an apartment, but then my wife and I sold it, and now we're back to renting, baby.

16:01I'm owning, but we both suffer the same issue, Nick and me. Yeah, we do. We're not getting points on rent or mortgage payments right now. Yeah. That's why we were shocked and are now both seriously considering what we just heard from Built. This is wild. Because paying for the roof over your head, it's our single biggest expense. Whether you rent or you own, that's the case. Well, Built will pay your mortgage or your rent for you so you get the points. Points can be redeemed toward your next flight, hotel, Lyft ride, amazon.com purchase, and more. Personally, I'd use them in the Built travel portal or simply use them toward a future rent payment.

16:32And one unexpected benefit of Bilt is that every member gets access to its agentic neighborhood concierge in the Bilt app. First, you download the Bilt app. Second, you link your credit or debit card, and then you ask the Bilt neighborhood concierge to basically be your AI butler. Makes you feel fancy. So download the Bilt app and join the membership for where you live at joinbilt.com slash tboy. That's J-O-I-N B-I-L-T dot com slash T-B-O-Y. Use our link joinbilt.com slash tboy so they know Nick and Jack sent you.

17:03Hi, this is Paige from Giggly Squad, and today's episode is brought to you by McDonald's. Honestly, Caesar sauce and a Diet Coke at McDonald's might be the perfect girl dinner. And McCrispy strips dipped in Caesar sauce? No notes. Right now at participating McDonald's, the$2.99 Caesar snack wrap is making me rethink my entire go-to order. Caesar sauce is at participating McDonald's for a limited time, so go try it before it's gone. Prices and participation may vary.

17:58Let's share the catch. 22, having kids in America. What is it, man? Our low birth rate threatens the long-term health of our economy. But having kids often requires one parent to leave the workforce. So the money ain't mathin' right now. Basically, we need more babies, but we can't afford to actually have those babies. Yetis, when you consider the costs of childcare, if you're like a young couple thinking about having a kid, you might just get a Labrador and call it quits. Yeah, yeah, yeah. Keep dinking it over there. The median cost of childcare where Jack lives, get this, it's$21 ,000. Where Nick lives, it's$28 ,000 a year.

18:33Okay, Jack, our son, little Maximus, is doing a part-time preschool program this fall, three days a week, like four hours a day,$19 ,000. Nick, we have two kids getting childcare. That's$42 ,000 a year, and eventually Oakley's going to need childcare. I'm not trying to compete with you here, Jack, but he's also got a nanny, and the preschool's an outdoor preschool. It doesn't have a roof. There's literally no overhead and it's 19 ,000 bucks. And if you consider the taxes, then Nick needs to make 50 grand of income to pay for that 28 grand a year for childcare in San Francisco. Now, besties, we should point out the national average is lower, about 9 ,000 bucks a year for childcare, but it's easily 2X, 3X that in places where young people wanna live most.

19:18We call it the tantrum tax. It's the hidden huge cost that every millennial parent is paying right now. By the way, kindergarten, remember? That's when your kids are five. So having a kid means five years of all this child care. So for someone in San Francisco, it's 140 grand to pay for your child to get from zero to five. That's why Jack and I are launching a third podcast. But besties, we know what you are thinking right now. Why is child care so expensive? Because people are expensive and child care depends on a lot of people. Yeah. It's a people-y business model. You see, AI can't change diapers, and remote workers, they can't sue the one-year-old to nap.

19:58Elderly care, child care, and schools, they're all expensive because people in this country just get more and more expensive. But as Jack and I dove in T-boy style, we noticed that child care in particular is person expensive. Because many states regulate a staffing minimum. There can be no more than four babies per adult at the child care center. And that's why, according to the Wall Street Journal, your typical daycare spends 70 % of its revenue just on wages. The other 30 % is on Hot Wheels cars, by the way. And yet, here's the most, like, brutal insult to injury. Those child care workers, they get close to minimum wage.

20:34Yeah, like their average pay is 15 bucks an hour, usually with no benefits. Because when four tiny people need one big person's full-time attention, it's tough to make the economics work. So Jack, what's the takeaway for our buddies who are everyone curious about child care? This is a business problem, not a baby problem. Businesses are part of the solution. Yetis, the cool thing about our country is that there are 50 states and each one can experiment. And then the other 49 states can learn from a successful experiment in the one. So here are some child care solutions we've noticed. In Florida, the state offers tax breaks to businesses that offer on-site child care.

21:11In Michigan, if an employer pays one-third of an employee's child care cost, the state will pay another third of it. In Vermont, a payroll tax funds 10 hours per week of free child care for all three - and four-year-olds. And a key reason those laws got passed in those states, businesses were convinced to support those laws. Because solving child care with these ideas actually boosts the broader economy. According to KPMG, over 1 million parents in America would be working right now, but they can't because child care is either unavailable or unaffordable. Millions more parents are working, but they're frequently absent or late because their child care is unreliable.

21:49The crazy cost of child care is called the tantrum tax, but businesses are part of the solution. Jack, could you whip up the takeaways for us for the real Friday? Equinox's robot masseuses are on pace to do a million massages this year. at their 60 gyms. The AI robo masseuse. It fills a gap in the job market. And you know what? It hits the sweet spot. For our second story, Robinhood launched prediction contracts for pro and college football games. But putting a bookie next to a financial advisor to our buddies over at Robinhood, a little bit of mixed messaging right there, if you know what I mean.

22:25And our third and final story is the tantrum tax. Childcare costs between$9 ,000 and$29 ,000 a year in this country because childcare is a very people-y business. But besties, this ain't a baby problem, it's a business problem, and solving it unlocks a million workers. But yeties, this pod's not over yet. Here's what else you need to know today. First, congratulations to the great state of Wyoming. You are the center of America today, most important state in business right now. First, Wyoming was the first state to launch a state stable coin. It's called the Frontier Coin. Ticker symbol FRNT, short for Frontier.

23:01We don't know what they're going to do with it, but they did it. Plus, the Federal Reserve has a meeting in Jackson Hall that ends today. Jerome Powell will speak about interest rates, inflation, tariffs, and the economy in a press conference. So we're bullish on those Wyoming ranches, literally. Second, how is the biggest retailer in the world dealing with America's big tariffs? Surprisingly well. Yeah, Walmart says it's paying more tariffs than ever because a third of their merch, yeah, shocker, comes from overseas. but Walmart only raised prices by 1 % last quarter in response to those tariffs.

23:33Why? Because they're going on the off-fence, as they put it. They're not raising prices much because they can and Target can't. They're stealing market share. And finally, Starbucks is doubling down on coconut water as it leaps into health and wellness, baby. 2025 is the year that Starbucks is trying everything and anything to bring back that coffeehouse vibe, including coconuts. The new CEO is throwing the kitchen sink at, well, the kitchen in this case. Now time for the best fact yet. This one's sent in eloquently by James Polk, a Yeti, from Bridgewater, Massachusetts, just outside Boston. Push and play.

24:10Hey, T-Boy team. Loved today's episode. But I had to chuckle when you guys pronounced a Kushnet as a Kushnet. As someone from Massachusetts, I can confirm the locals would be giving you a Kush for that one. It's actually a Kushnet. where Cush rhymes with push, not you. Maybe it's time for a golf ball-sized correction here. Keep up the great work, and don't worry. We still love you, even if your pronunciation is a little off-pah. Jim's basically like, hey, you can't pack the chi here. Yeah, yeah. You did that well. You did that well. I think we're good for all. We never have to do another Boston correction again, Jack.

24:43Hey, Jim, when we come to a Boston for a live show, we're getting you a dunking on us. If you know, yeah, you know. But before we go, Yetis, another quick shout out to Nick. This man is technically disabled, according to the laws of the state of California. Yes, technically. And yet he's produced four fantastic podcasts this week. And I also got to thank you, Jack. Thank you for leading the charge on the show over the last week and making every day a T-boy. Yetis, celebrate the wins this weekend. Nick and I definitely will be. If you know, you know.

25:20And before we go, a happy birthday to Yeti Maxine, KD's down in lovely Cape Town, South Africa. Happy birthday to Guy Risch in St. Thomas. And Jocelyn Kohler's turning 31 years old doing some logistics up in Chicago. Happy 28th birthday to Caroline Ruthven in Asheville, North Carolina. And Ritu Agarwal, happy birthday just outside Boston. In Boston. Happy 59th birthday to Sandy Shack Lady White in Coatesville, Pennsylvania. And Jack, we got a 14th birthday for Will celebrating the big one over in Galena, Kansas. Happy 40th birthday to Matt in Arlington, Virginia. And Katherine Hubbinger is 21 years old celebrating big with the Eagles of Idaho.

26:04And congratulations to Claire Grigo on the soft opening of Cafe Calaveras in Seattle, Washington. It's lovely. And Cadell Crisp and Kenosha Baker are getting married this weekend. Have a blast. You'll look fantastic in Chesapeake, Virginia. And finally, a big shout out to Chris Carpenter, a man who's born and raised in Maui. Now, besties, this absolute legend of a Yeti sadly passed away earlier this year. But Nick and I are honored to pay tribute to this man from his buddy and his business partner, whom he converted to the show. Celebrate that life of wins, and we'll take a little moment of silence before we head out for the weekend.

26:41If Chris were here, he'd make it a T-boy.

26:47This is Jack. Nick and I both own Stock of Robin Hood.

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