💃 “Destiny’s Chip” — Nvidia’s Beyonce earnings. Budweiser’s BeatBox acquisition. America’s smaller Zestimate. +Pickle Ball Ban

0:28This is Nick. bedroom in New York City. Nick had some major travel issues today. It's a miracle you even arrived in the city. Oh, it's incredible. Hang on a second. Is that a New York Rangers comforter I see in the background? Yeah, it's right next to the stuffed bear, the participation trophy, and I got 533 Hot Wheels. Participation trophies. Here's the Hot Wheels collection, just for the record. But Jack, we still sound fantastic. What are the three stories for today's T-Boy? For our first story, it's NVIDIA's earnings report. The earnings report that could determine the future of the stock market.

1:01It's the celebrity of earnings report and NVIDIA just went full Beyonce. They're channeling Destiny's Child. For our second story, two years ago, Nick and I predicted what drink would be the drink of the summer. We said Beatbox, the four loco of wines. But now Beatbox is getting acquired by Budweiser for 700 million bucks, even though Gen Z spits out their wines. And our third and final story, have you checked your home's Zestimate recently? I don't want to, Jack. If you have, unfortunately, it's probably down. Because Zillow just announced the majority of American homes are worth less this year than they did last year.

1:35And it's the first time that's happened since 2012. And yes, it does involve you sexting. But yetis, before we hit that wonderful mix of stories. Jack, wonderful mix of stories. Love the mix for the new Friday. It's Thursday. It's Thursday. One week from Thanksgiving. Which, Jack, means we're also one week away from the most competitive event of the year. Your family's pickleball tournament. Ah, the old family pickleball games. Mom's got a new paddle, your uncle's got a new knee. And your sister got an Equinox membership just to prepare for it all. Oh yeah, we're going to hear about the trainer all Thanksgiving now.

2:08Well, here's the news. America's fastest growing sport is becoming its most banned sport. Because a town in California is voting on a permanent pickleball ban. And they're not the only ones. Carmel, California. Lovely little village. I spent the weekend there once. Used to have Clint Eastwood as the mayor. It also happens to be the home of a public park of pickleball. But while the number of pickleball players has tripled in the last three years, so has the amount of pickleball noise. Jack, I'm going to sprinkle on some context. The pickleball decibel level, it's near 100 on the noise scale. That means pickleball pops are louder than a vacuum, not quite as loud as a hairdryer.

2:45So Carmel is about to ban the entire sport, declaring it a public nuisance. Okay, but it ain't just them, Jack. Jack Nantucket may outlaw your Aunt Deb's favorite recreation island-wide next year. Pop callers, not pickleballs. Pickleballs. They're going to need to hire a lobbyist one of these days. Sorry, we got to say this. It's putting pickleball into a pickle. But Jack, there is one sneaky solution for that pickleball pickle. If only there could be a quieter pickleball. Well, get this. Inventors have now engineered a pickleball ball that is one-tenth the pop, and it's a real thing. Glad our smartest minds are fixing the world's biggest problem.

3:22Now, Jack, they are profiteers over here because it's 10 times the price for this new pickleball, but one-tenth the noise. Same pickleball, less pickle pop. So besties added all up, and Uber, they once got banned. Red Bull once got banned. But when Red Bull got banned, demand actually went up. And Uber's worth$100 billion these days. Because sometimes the best thing to happen to a brand is a ban. Tattoos, skateboards, and pickleball. Hey, Dad, get out of the kitchen, Jack. Let's hit our three stories.

4:20First, a quick word from our sponsor.

4:51the premium non-alcoholic beer brand co-founded by Tom Holland. Yeah, I actually first saw it at my grocery store. Delicious tastes like a celebration, feels fantastic, and looks legit. More on the looks in a sec. And if it's good enough for the actor who played Spider-Man, it's good enough for us. You see, it pairs well with a pickleball game, a profitable earnings report, or with the best podcast. So, Yetis, if you want to celebrate the ruins with all the taste of a premium lager or IPA, but none of the alcohol, there's no better choice than Bureau. Okay, pause the pod. Did we mention the can is straight up gold?

5:23This thing will stand out at every one of your next parties. Trust us, we've done it. Only beer we know that actually upgrades the scene like a promotion. So, Basties, if there's a win you're celebrating every day, Bureau is the non-alcoholic brew brand you gotta bring. So use code T-Boy for 20 % off your first order at BureauBrewing.com. Monarch. All right, yeah, these one lobster roll, no joke, 50 bucks on Nantucket. And why is that a problem, Jack? Because we're going to Nantucket this summer on a joint family T-Boy trip. It's a write-off. It is expensive, but we will travel with peace of mind because our finances are organized in Monarch, despite the lobster rolls.

6:00Monarch is the personal finance app that tracks everything. Accounts, investments, savings goals, and spending. Get your first year of Monarch Core for half off, just$50 with promo code T-Boy. Monarch shows visually how much you're spending this month compared to the average month, which is really useful. So like, honestly, this month, been a doozy, Jack. booked a lot of travel, but I know the future months won't be as bad after lobster roll season. You know because Monarch showed you. Last year, you had a spike in May for travel bookings, but a dip in the summer because the travel was already paid for.

6:28You can even ask Monarch's AI assistant anything about your finances. Like, what are the key changes in my spending so far this year compared to last year? And how much was spent on lobster rolls last summer? Use code TBY at Monarch.com to get your first year of Monarch Core at half off, just$50. That's 50 % off your first year at monarch.com with code T-Boy.

6:50For our first story, it is the celebrity of earnings reports, NVIDIA. The vibes of this entire stock market and the economy depend on this company. Well, the man in the black leather jacket delivered. And we'll explain the numbers with the best analogy we could find. But Jack, if we're really going to tell the story of NVIDIA's earnings, Can we start with some poetry? And I believe you wrote a poem about NVIDIA like a month ago, man. NVIDIA, I'm not kidding you. You're powering our economy's heart. That's the opening line of my publicly traded poem to NVIDIA. Yeah, Nobel laureate Jack, the podcast co-host over here.

7:27Well, the companies that buy NVIDIA's chips to process their AI are known as hyperscalers. Amazon, Meta, Oracle, OpenAI, Alphabet, Microsoft. Those are the hyperscalers. and they bought$62 billion worth of NVIDIA chips in just the last three months. That was the highlight number of the earnings report. And NVIDIA's forecast for this fourth quarter that we're already in was way higher than Wall Street expected. Oh, it got crazy. Jack, why don't you dive in T-boy style for us? Jensen Huang said this to open the report yesterday. Blackwells are selling like crazy and cloud GPUs are sold out. Sorry, Jack, can you give us a tech translation on that quote, please?

8:06We're going to jack up the price of our chips even higher because the industry can't buy enough of them. Besties, get this. NVIDIA brought in$11 billion of profit every month last quarter. This chip company brought in 47 times more profits than they brought in the same quarter three years ago. Okay, still not satisfied? NVIDIA's revenue growth is now more than the total revenue for 400 of the Fortune 500 companies. You're going to have to write that down, but it's wild. NVIDIA's revenue growth is more than the total revenues of 400 of the Fortune 500 companies. Jack, I can't escalate the octaves in my voice any higher about this report.

8:47And Bessie, here's the key. It's not just about NVIDIA. That's what we find fascinating. NVIDIA's earnings reports are about the entire stock market and indeed the whole US economy. And the way Jack and I see it after reading this whole report is that NVIDIA just went full Beyonce on both. It put the whole band on its back. Because, Yetis, NVIDIA alone makes up 7 % of the S &P 500 and 10 % of the NASDAQ 100. Not too shabby. If NVIDIA fails, everyone fails. So, like, no offense to the rest of Destiny's Child, but it's kind of like if Beyonce failed, Destiny's Child would have failed. Yeah, if Beyonce calls in sick, you should probably cancel the whole concert.

9:26Just reschedule the recording. But, Nick, NVIDIA, it's not just the stock market. It's the number one ingredient for all of our economic growth, aka the data centers. Right. We're adding all these data centers and they're all being powered with NVIDIA chips. So these results were great for NVIDIA. The stock rose 7 % Wednesday as of the time that we're recording the show. But Jack, I got to ask, were those results good for the rest of the stock market and the rest of the economy? Well, stocks of every tech company we're looking up right now after hours are up thanks to NVIDIA's report. Which to us means that Wall Street sees these earnings as proof of AI being a boom, not a bubble.

10:03Because of that black leather jacket. Just kidding, because of our takeaway. Jack, what's the takeaway for our buddies over at NVIDIA? The proof is in the repeat purchases. Yetis, the bear case on AI is that it's a huge waste that companies that are splurging on it won't get a return. All those data centers were like Brazil's World Cup stadiums, not a smart use of money. But besties, we are three years into this trend now. If AI hyperscalers were seeing that, you'd see it in reduced orders of NVIDIA chips. But the opposite is happening. True. NVIDIA's sales growth actually accelerated from the quarter before, from 56 % growth last quarter to 64 % growth this quarter.

10:44So are companies getting the ROI they need to call this AI situation not a bust, but a boom? Well, the fact that hyperscalers are increasing their orders to NVIDIA each quarter suggests yes, they are getting the ROI they're looking for. Besties, the proof that AI is not a bubble is in the repeat purchases. The customers are crazy in love.

11:10For our second story, Budweiser is about to drop 700 million bucks for a Gen Z boxed wine called Beatbox. We'll tell you why young people love a wine brand, even though young people don't drink wine. All right, Jack, if we're going to cover this story, can I start with a quote from Dos Equis? Something about an interesting man? Yeah, yet he's Jack and I don't always make predictions, but when we do, we put a lot of time into them. And an annual T-boy tradition for the last five years is predicting the drink of the summer. Yeah. Rosé, Frosé, canned Frosé, we predict them all. Did I say five years?

11:46I think we've been doing this seven years because 2018 was the summer of the Spike Seltzer. 2021 was the summer of the ready-to-drink canned cocktail. Then there was non-alcoholic drinks, and then there was low-alcoholic drinks. And in 2024, Jack and I predicted Beatbox, the wine of the summer. It's a boxed wine brand. You might know them from Shark Tank. They got a$1 million deal years ago from Mark Cuban on Shark Tank. Or you may know it from aisle six at the grocery store, where it's got 11 % alcohol, but a 4 % price tag. Or you may know it because you've pounded a box of one of them. It's like the Four Loko of Napa.

12:21Kind of looks like a Capri Sun and a Pinot Noir had a baby, and that baby is 21 years old. No, it is an affordable alcohol, because one box is 17 ounces, so it's the equivalent of two glasses of wine sold for$2 per glass. But besties, the financials of this company, they look more like an energy drink. Sales 5X'd from 2020 to 2022, and then they 6X'd from 2022 to 2025. And here's the news. The Wall Street Journal is reporting that Anheuser-Busch is going to acquire Beatbox for 700 million bucks. Because Gen Z doesn't drink alcohol, except apparently this alcohol. Yeah, because Gen Z has ditched Bud Light for boxes of party sangrias.

13:02So congrats to the Beatbox team. But we gotta ask, what got Beatbox a Shark Tank deal? A T-boy summer drink of the year prediction and now an exit to AB InBev? Yeah, he's Jack and I were dying to know. So based on our analysis, Beatbox's real insight wasn't that it canned wine. It's that it canned the trends. It was a Frankenstein strategy. This brand managed to merge multiple trends and bottle them into one product. For example, Gen Z cares about sustainability? Boom, make the package out of paper, not plastic. Millennials are going to record number of live concerts? Boom, launch every new flavor at a music festival.

13:39Jack, everyone under 40 is into fitness. I'm going to say, boom, drop the calorie count to 120 bucks a can and keep the sugar under eight grams. And in this economy, put the price tag at just four bucks a box. That is less than a Jamba Juice smoothie these days. So Beatbox went full Dr. Frankenstein Mary Shelley on Vino and re-engineered it for a post-pandemic 22-year-old. Now, we should point out, Jack, wine snobs, they kind of hate that this is technically a wine. The box is so neon, you need to wear sunglasses. That's a warning. But wait, Jack, pause the pod for a second. Are you thinking what I'm thinking?

14:15Isn't like wine like out these days? Yeah, that's what we thought. So why is Budweiser buying a wine brand? You know what? Let's hit the takeaway. Jack, what's the takeaway for our buddies over at Beatbox? A trend is not the truth. Yetis, like Jack just said, this doesn't make sense. Wine? I mean, based on all the data we've seen and told you about, it shouldn't sell. We've told you that Gen Z doesn't drink much. We've told you that alcohol consumption overall is at a record low among Americans, and that wine is the alcohol getting hit the hardest. And yet, here we are, also telling you about a viral wine brand selling for$700 million.

14:51How is that possible? Well, what Beatbox proves is that it's never really about the product. It's about how you position it. Exactly. They repositioned wine from competing with liquor to competing with beer. Instead of restaurants, they sold at concerts. Instead of wine stores, they sold at gas stations. Now, yes, the bigger trend here is that wine sales are declining. But a trend is not necessarily the truth. Now, a quick word from our sponsor. Upwork. Yeah, it is. Before we had a podcast, we had a newsletter. And the moment that newsletter began growing, it's not when we came up with the clever subject lines with the emojis.

15:28It's when we found the right freelancer. Freelancer built a referral program that grew our newsletter, which helped launch this podcast, which helped us sell our company, which we eventually spun out, and which eventually got us to where we are today. Yeah, that's the story. Having the right expertise at the right time, that can make or break your business. So Upwork is a one-stop platform to find, hire, and pay expert freelancers across web and software development, data and analytics, marketing, business operations, and more. If you need a freelancer, Upwork is where you get it. Thousands of growing businesses already trust Upwork to hire flexible, high-quality freelance talent for everything from one-off projects to ongoing support.

16:00With Business Plus, you can access the top 1 % of talent on Upwork. And with AI-powered shortlisting, you'll get matched with the right freelancer in under six hours. No endless searching required. It's free to sign up and posting a job is easy. So visit Upwork.com right now and post your job for free. That is Upwork.com to connect with top talent ready to help your business grow. That's U-P-W-O-R-K.com, Upwork.com. Top hats, baseball hats, Von Dutch hats. We wear so many hats on this podcast. Honestly, we're not great at all of them. No, we've been avoiding hiring someone to wear those hats instead of us, especially the Von Dutch one, because hiring and training can take forever.

16:34Well, proud to say that we are hiring right now at T-Boy, and this is a job for Indeed Sponsored Jobs. Because sponsored jobs posted directly on Indeed are 95 % more likely to report a hire than non-sponsored jobs. So besties spend less time searching and more time actually interviewing candidates who check all your boxes, less stress, less time, more results. When you need the right person to cut through the chaos, this is a job for Indeed sponsored jobs. And listeners of the show will get a$75 sponsored job credit to help get your job the premium status it deserves at indeed.com slash podcast.

17:05So just go to indeed.com slash podcast right now and support our show by saying you heard about Indeed on this podcast. That's indeed.com slash podcast. Terms and conditions apply. Need a hiring hero? This is a job for Indeed sponsored jobs.

17:22For our third and final story, the majority of American homes are worth less right now than last year. They're down 9.57 % on average from their peak. Because America's housing market right now is one big Margaritaville. Oh, it's one huge Margaritaville. But yet is, if you're on TikTok, then you know TikTok has a for you page, but Zillow has a not for you page. You know what I mean? You know what I'm getting out of that, Jack? These houses, you definitely cannot afford. Six bedroom beach side with the guest house, radiant heat and a floor to ceiling fireplace. You zex that link to your boyfriend, even though it's not for you.

18:01But funny thing yet is in that Zillow text that zexed you send your boyfriend, you're going to see a zestimate of that home. And what's that, Jack? Which is Zillow's estimate of that home's value. Basically, Zillow's algorithm looks at the size, location, and recent transactions nearby and then whips up a new price that's not for you. Although, they do it for all homes. So like the house you're living in, that has his estimate too. Okay, but here's the shocking news. Zillow just announced that 53 % of America's homes are worth less than they did a year ago. Still, two-thirds of homes are worth more than when their homeowners bought them, and only 4 % of sellers are actually selling for losses right now.

18:41Remember, this is just as estimate. But still, over half of American homes lost value in the last 12 months. I wish I had a sauna right now, Jack. Okay, but bigger story here, Jack and I want to talk about it. And what is that, Jack? America's a tale of two real estate markets. Ah, yes. One's with construction and one's with obstruction. Let's whip out the map. You see, besties, if you live in the south or the west of America, then prices are falling in every metropolitan area. San Francisco, Austin, Tampa, Denver. At least 83 % of homes in those four cities are down in the last year. But on the other hand, if you live in the Midwest or Northeast, then prices are still rising in metropolitan areas.

19:22New York, Chicago, Boston, it's the opposite. 80 % of homes have gained value in the last year. So Jack, pause the map quest for a second here. why the regional difference in these home prices? Well, it has nothing to do with the weather, the quality of living, the sports, the jobs market, or how the city pronounces the word pecan. It's pecan for the record. The reason why half the country has falling real estate prices and half has rising real estate prices, it's whether the state you're in builds houses or doesn't build houses. That's right. The South and the West are living like it's the 1800s frontier out there.

19:55Yeah, they're building homes nonstop to welcome newcomers in the millions. On the other hand, Northeast and the Midwest, they are NIMBY states, not in my backyard. Red tape and high costs mean a constant housing shortage in all of New England and all of the Midwest. And voila, it's a housing construction versus a housing obstruction. And you see the difference in the Zext messages. Actually, a massaging sauna is really nice, Jack. So Jack, what's the takeaway for our buddies over in the housing market? The bigger picture is that the housing market is a retirement community right now. Yetis, the people actually buying homes in this market, they're older than at any other time in American history.

20:34The National Association of Realtors just reported a record high age of the median homebuyer, 59 years old. 59! That is the same age that you can begin withdrawing from your retirement fund. And wildly, that same report also showed a record high age for first-time homebuyers, 40 years old. It's not young couples excited to start a family and buying their starter home. It's old people. We just call 40-year-olds old people, Jack. So to the Gen Xers out there, no offense, no offense. But whether prices are up or down, it depends on whether you're in a building state or not. But they're expensive everywhere.

21:11That goes without dispute. Our country simply needs more homes. And until we can make building more houses a national priority, the housing market will remain looking like a Margaritaville. For people 59 and over only. Jack, could you whip up the takeaways for us for the new Friday? NVIDIA's earnings delivered, not just for shareholders, for the whole stock market. It went full Beyonce. And for now, the proof that AI is not a bust is in the repeat purchases. For our second story, Beatbox was this podcast 2024 drink of the summer, And now it's reportedly getting bought by Budweiser. Because beatbox is proof that trends don't equal the truth.

21:51And our third and final story. The majority of American homes have smaller Zestimates right now than last year. But it's also a tale of two markets. The American housing market. It's become a retirement community. It looks like Margaritaville. But besties, this pod's not over yet. Here's what else you need to know today. First, curious about the unemployment rate for October 2025, last month? Well, we're never going to know because of the government shutdown. The Bureau of Labor Statistics announced yesterday they're canceling the jobs report for October. The reason? The unemployment rate is based on a survey.

22:22And the people who ask you if you are employed or not, they were furloughed during the shutdown. BLS will release the November jobs report two weeks late on December 16th. And second, we've got two record-setting pieces of art. One of them is tasteful art. The other one is a toilet. A Van Klimt painting became the most expensive modern painting ever, selling for$236 million. On the same day, a golden toilet was also sold at a Sotheby's auction for$12.1 million, the highest price ever paid for a toilet. By the way, that toilet was produced by the same artist who duct taped a banana to the wall.

23:00Yeah, it was the same dude. It was the same dude. And finally, we just got the official Apple Podcast rankings, and there is a new number one at the top of the charts. The New York Times Daily has been usurped by the Joe Rogan experience. Joe Rogan has jumped to number one above the Daily. Mel Robbins is number three, and Crime Junkie is number four. Most interesting to us, the most shared podcast. Bible in a Year, the Ezra Klein Podcast, and the Humorin Podcast. But T-Boy, still coming for that number one spot. Now time for the best fact yet. This one, a correction sent in by Clayton Schmidt from lovely Oceanside, New York.

23:36The correction is it's Grand Central Terminal, not Grand Central Station. Here's the distinction. A terminal is the term for a train station where the train lines end, as is the case at Grand Central Terminal in New York City. When Metro North trains come into Grand Central, when they leave, they go back out the same direction that they came. Grand Central Station is the nickname people use, even though it's technically not correct. Although in our defense, Grand Central is a subway station, and the subway doesn't terminate there. It passes right through. And we were talking about the subway station, but still.

24:09I respect the correction because it's an important distinction. Clayton been working on the railroad all the live long day, Jack. And we appreciate the correction, Clayton. Yetis, you look fantastic out there. Remember, Jack and I got a surprise coming for you tomorrow. And Jack, what is it? Our full interview with the CEO of Lyft, David Risher. That's right. We did the interview like last week, but you know, like any Lyft ride, it arrived a few days late. So you're going to enjoy that episode. and we're interviewing Jim Kramer. We'll share that one with you next week before the holidays. Big stuff happening at the best one yet.

24:41If you know, you know.

24:46And before we go, a happy birthday to Yeti Luke Baker from Skinny Atlas, New York, who liked K-pop demon hunters before it was cool. And happy birthday to Zen Yup in Singapore, an aspiring yoga teacher. And Bethany Usquino is turning 25 years old down in Orlando, Florida. Happy birthday, Bethany. Happy birthday to Karen Sy in Overland Park, Kansas, who's having caviar for breakfast. And Aronza and Anil down in Houston, Texas, just got engaged. They've been listening since Snacks. Guys, send us the ring picks. We can't wait to see it. Congrats. And happy birthday to John David Hull, who's turning 45 in Clifton, Texas.

25:22And Anna Pags has got a 15th birthday on the Jersey Shore. Hope it's a 6-7. More on that next week. And happy birthday to Mara Lay, turning 30 in Carlsbad, California. The best boss yet. And Kay Nelson is celebrating the best birthday yet in Spanish Fork, Utah. And happy 30th birthday to Terry Grant from Long Island, New York. And to anyone else celebrating something today, make it a T-boy. Celebrate the wins. This is Jack. Nick owns Stock of Zillow, and we both own ETFs at the S &P 500. Wow, you were able to just chat AI quicker than I was. I Googled. Oh. Hey, Nick. Great question about Pickleball.

26:01Can't wait to your family place this weekend. One sec while I find it out. Yes, you're 100 % right. It is closet. I said kitchen. You're right. You did say kitchen. This pod is not brought to you by ChatGPT.

26:16Parles-tu français? Hablas espanol? Parli italiano? If you've used Babbel, you would. Babbel's conversation-based technique teaches you useful words and phrases to get you speaking quickly about the things you actually talk about in the real world. With lessons handcrafted by over 200 language experts and voiced by real native speakers, Babbel is like having a private tutor in your pocket. Start speaking with Babbel today. Get up to 55 % off your Babbel subscription right now at babbel.com slash acast. Spelled B-A-B-B-E-L dot com slash acast. Rules and restrictions may apply.