❤️‍🔥 “Friendly Fires” — Canva’s layoff perks. Harley’s club comeback. Nasdaq’s AI oopsie. +Hallmark Cruise

0:28This is Nick. also kept some life souvenirs. We did? These bomber jackets that we've worn at each show. You might actually see them on the show because we're thinking about wearing them every episode. Lifestyle souvenirs. I mean, Jack, bring this out for every T-boy. So Nick's rocking Sonics. I'm rocking Seahawks in honor of our Seattle show from last week. But you know you got to celebrate the win. So Jack flew to New York City to see the family right after the show. I flew to Santa Barbara, still in the hotel room. And yet we whipped up the best show we've ever done for you today. Jack, what do we got on Monday's T-boy?

0:57For our first story, what if the company that just laid you off was so humane in doing so that they offered you$10 ,000 to launch your next thing? Besties, the wildest new work trend in America is exit perks, humane layoffs, friendly fires. For our second story, the Nasdaq sank 5.5 % in one day last week. It's the biggest loss of value in the Nasdaq's history. So Jack and I will tell you how we're reacting to the post-election AI stock panic. And our third and final story is the corporate comeback of 2026. Jackson, Davidson, Harley. Harley Davidson surged 60 % this year because motorcycles can cure loneliness.

1:34But yet it is before we hit that wonderful mix of stories. What a mix of stories for the best show in biz. Jack, love the mix today. Checking the calendar. There's 45 days until Christmas Day. And yet we've already watched Elf six times. You're probably listening to Mariah Carey in the background of this episode. Can't escape it. But besties, the biggest business this holiday, it's actually the Hallmark Cruise. Not the Hallmark card. Nope. Not the Hallmark movie. Uh-uh. Not the Hallmark chocolate advent calendar either. It's the cruise. A four-night, five-day, rom-com-themed Hallmark boat cruise, baby.

2:06Because since 2024, Hallmark has partnered with Norwegian Cruises for a C-list celebrity-themed Caribbean voyage. A floating encapsulation of Christmas cringe. And if you want to go this year, you're too late. It happened in October. And why is that, Jack? Because 12 million Hallmark fans watched Hallmark Christmas movies in October. Now the prices are$1 ,500 per purse and the suites are$4 ,000 a room. The draw? Mingle with 18 Hallmark Channel stars on the poop deck for four days. Selfie with Amnesia Man or it didn't happen. But Nick, heartbreak just happened on international waters. Because Jack Hallmark just broke up with Norwegian.

2:42The 2027 Hallmark cruise is going to be with Carnival. And guess what? Carnival stock actually jumped 6 % on the news. Because thanks to Hallmark stands, They're filling cruise ships in off-peak months like October and November. And they're getting sponsor dollars from Michael's Craft Store. I'm sorry, Jack. One second. $42 for the Jennifer Love Hewitt church? We'll take three. The Hallmark Junkies are in. Why spend two hours watching Big City Girl meets Small Town Boy when you can live it for a mere four grand? Amnesia, man. Amnesia, man. Jack, let's hear our three stories. Fifteen years before this song, two boys from the Northeast met in the dorm.

3:18They 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.

3:40Start the show. Start the show. First, a quick word from our sponsor.

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4:21Monarch. In 2015, after my third banking bonus, I finally paid off my student debt. Then in 2019, after we sold our startup, I finally paid off my graduate student debt. Yeah, and is everyone throwing random parties these days? Well, Jack threw a long overdue debt payoff party. Gotta love that party. Yeah, because for 10 years, I kept a manual Excel spreadsheet tracking my debt payoff progress. and it was very satisfying watching the bad numbers get smaller and the good numbers get bigger. You see, when you're paying down your debt, it helps to have a target date to plan your celebration around.

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5:23For our first story, the surprise work trend in America, it's layoffs that feel like promotions. The new business flex is letting people go, but then pampering them like VIPs. Now, Yetis, just saw some buddies from business school for a big dinner. Everyone's wondering about the L word, layoffs. Because last week we told you that eBay stock is at an all-time high, and yet they're still laying off 9 % of employees. Microsoft stock also at an all-time high, yet announced buyout offers to 60 ,000 employees last week. It makes sense that struggling companies would do layoffs to survive, but with AI, even thriving companies are doing layoffs.

5:59Yeah, using it like corporate Ozempic. But today, besties, we are focused on Canva, the$42 billion software biz annoying Adobe and punching PowerPoint. Canva sadly announced last week a reorganization that impacts 22 % of the team. Now, Jack and I jumped in T-Boy's style. We read the CEO's letter about it, and she said, I am deeply sorry three times. You don't always see that from CEOs. One of the more heartfelt and empathetic CEO letters I've ever read. But that's not why we're praising the CEO Mel Perkins. No, no, no, no, no. It is the unprecedented perks that Canva's offering those laid off workers.

6:31All affected employees of these layoffs will get access to a directory of Canva alum to help find their next job, prep courses for job interviews, and one year of paid LinkedIn premium. Plus six months of pay, 12 months of health insurance, and oh yeah, you can keep the company MacBook. But here's the wildest layoff perk. $10 ,000 in grant funding for your next entrepreneurial idea. Sorry, Andreessen, no strings attached on this one. They're not trying to take equity. They're just trying to give you a bone. You don't even need to do a pitch deck. I mean, Jack, can a round of layoffs be a positive PR moment?

7:04Yes, it was for Canva, and this could be the start of a trend. Golden goodbyes. Five-star firings. Termination, treat yourselves. But besties pause the pod because Ikea just did something that's arguably even more creative. They turned displaced workers into interior designers. How about we sprinkle on some context, Jack? Full disclosure, even though Ikea is easy to assemble, I still need help building the fluegen sofas. I know, don't you hire that hot guy from New Zealand to like come do all your furniture assembly? We do, we do. He's a contractor, he's amazing, and he's way more talented than me, totally.

7:36And better looking. I didn't say that, but I'm impressed that you noticed that too, Jack. Yes, yes, yes. But since 2021, AI has handled Nick's dumb question when he calls Ikea about the screwdriver. I'm sorry, Ikea, this part's not fitting into this part. And that consumer service AI machine, it's gotten better over the years. The AI resolution rate was 47 % in its first year, but it's up to 74 % today. So besties, Ikea could have let go of eight and a half thousand call center employees and just replace them with their new chatbot. But instead, IKEA retrained those call center employees to become interior designers.

8:11And get this, those new interior designers, they're boosting the IKEA business. After five months of training, these employees know feng shui and color coordination. You don't know where to put that ottoman, and no, I don't know where to put that ottoman. Well, now IKEA's ex-customer service guy does. And this interior design consulting business, it's a paid service. It is. It's now generating$1.4 billion per year for Ikea. It's a profit puppy. So besties, what could have been a firing ended up being fire for Ikea's income statement. But we'd consider that another form of humane human resources like what we saw with Canva.

8:45But add it all up besties, and between Ikea and Canva, Jack and I have actually seen this concept before. In Japan, 50 years ago. So Jack, what's the takeaway for all our buddies looking at these positive PR layoffs? This is Nintendo's infinite game. Yetis, Nintendo. It's the only big company we know that has never done a mass layoff. The reason? Nintendo believes that layoffs might help with short-term results, but they would hurt morale and employee productivity in the long term. Nintendo's president, Satoru Iwata, said in 2013 that an employee worried about losing their job will never create the next Mario.

9:21What he's saying is that employees need psychological safety to perform their best. Canvas layoff perks, IKEA's AI retraining, those are Australia and Sweden's version of Nintendo's philosophy. If you know of an American version, let us know in the comments. I mean, Jack, we should point out there is an opposing belief here, that people do their best work actually when they are terrified of losing their job. See, Elon. But Humane HR sends a message to the remaining employees. Don't stress, just do your best work. The exit perk, besties. It's a signal to the remaining employees that they'll be taken care of no matter what and can do their best work.

9:57For our second story, the NASDAQ fell 5.5 % on Thursday as a full-on AI panic hit the markets. The same reason, though, that NVIDIA is down in 2026, Berkshire Hathaway is at all-time highs. Now, Yetis, the 2026 election, as we told you last week, was the ACDC election. Americans complained about data centers. ACDC. AI analyst Dan Ives says that because of the election results, 10 % of the planned 1 ,000 data centers in this country will not happen. And the Snap stock market reaction on Wednesday? Positive. Microsoft and Amazon, they soared to all-time highs on relief. Here's the bullish take. Voters are forcing the hyperscalers to be a little more reasonable with how much they spend on data centers.

10:39Stop being sugar daddies with these blank checks, guys. But on Thursday, investors realized, oh wait, there's a negative interpretation to this data center slowdown that actually scares me even more. Yeah, because less spending on data centers is less revenue for dozens of AI darlings like chip companies. NVIDIA was down as much as 12 % on Thursday, and it's now negative for 2026. TSMC, Broadcom, AMD, memory chips, power companies, the whole AI supply chain fell double digits while we were on our flights back from Seattle. Markets were back in black on Wednesday, but they got TNT'd on Thursday.

11:11ACDC, deep cuts if you know you know. Add it all up, and on Thursday, the NASDAQ index lost$2.5 trillion of value. Trillion with a T. The worst single day drop in valuation in the tech index's history. The AI bet of the stock market for the last four years, it didn't pop, but it deflated more than ever before. I want to say on a highway to hell, Jack, but now I've run out of ACDC songs. Oh, I got plenty more. Shoot to thrill. That's actually kind of all I got. Okay, okay. Story for another pod. But Jack, can we please go full Merriam-Webster on Wall Street right here and tell us about the correction?

11:47Well, due to the 5.5 % drop on Thursday, the Nasdaq's down 10 % from its all-time high, which means we're in a correction. But the money managers who sold billions of stock didn't hold cash last week. Instead, they bought something else. It's called the rotation. They sold the AI darlings so that they could buy into virtually anything not AI. For example, the UK's FTSE 100 index, it hit an all-time high on Thursday because very few of His Majesty's companies in the English realm are AI companies. Yeah, FTSE is like Downton Abbey, where NASDAQ is like Love Island if it were AI generated. Yeah, yeah.

12:21And Costco, Walmart, Pepsi, all of those companies, those stocks actually rose on Thursday. Basically, if you couldn't prompt it, investors wanted it last week. Another example, well, Tesla is down 15 % since Wednesday because it is all in on AI. But Toyota is up 15 % since Wednesday because of the rotation. Tesla sells became Toyota buys. Oh, I thought you were going to give us another ACDC. I thought you had plenty more ACDCs. No, I do. I do. Like, my dad is going to be so ashamed right now. I'm just drawing a blank. You don't anger Big Ted on a hard rock opportunity, Jack. So Jack, what's the takeaway for our buddies who are looking at the panic?

12:56If you're diversified, you don't need to buy the dips. Yeti's the hottest stocks in the AI trade. They were bruised, battered, and damaged on Thursday. Could be an opportunity to buy the dip. But timing the market is very, very hard. But let's pimp your portfolio. If you had a diversified portfolio, you didn't need to. And a case in point is Berkshire Hathaway. Nick, you know I own Berkshire. I do. And it's got very little AI. So it's a nice portfolio companion to all the tech stocks that I own. Because in the last month, the NASDAQ 100 is down 14%. But Berkshire is up 14 % in the same period.

13:28So you don't need to buy the dip if you own something that's uncorrelated to all the AI stocks. Berkshire thrives when the rest of the market doesn't let you worry less when the stock market panics. When markets are booming, Berkshire doesn't boom as much. So you're missing out a little bit. But when markets go down, Berkshire doesn't go down as much, or it can even rise like last week. Besties, panics like this remind us why it's so important to have a big, unsexy, diversified chunk in your portfolio. If you're diversified, panics, they're simply less panicky. Now, a quick word from our sponsor.

14:00You know what's a fun habit? Getting to hang with you guys every day on this show. It's what we do. Another fun habit? Listening to audiobooks about habits. Like Atomic Habits, the legendary piece about building habits that better your life, right? And the Atomic Habits audiobook is on Audible. We're excited to collab with Audible because it's how we find our road trip companion. The written word, spoken. So besties, you can create a habit of enjoying audiobooks while you multitask. Which I believe is chapter three of Atomic Habits. That's right, Jack. Wash pots and pans, awkwardly fold those fitted bed sheets, floss your teeth while you're winding down listening on Audible.

14:33If your hands are full while listening to Audible, then you're doing it right. So summer's not over. Replace doom scrolling by listening to an audiobook that a human put all their thought and effort into. Audible. It's stories that speak to you. And new members can start listening with a 30-day free trial at audible.com slash t-boy. That's a 30-day free trial at audible.com slash t-boy. Take it from a couple guys with a lot of habits who have become your habit. This episode is brought to you by Rover. Yeti's quick clarification on vowels here. River is the name of Jack's dog. Rover is the name of our sponsor.

15:04River is an anxious dog. I don't know why, Nick, but she's always been nervous with strangers. Basically, besides sleeping in between my legs, a plushy dog bed is the one place where she is soothed, even though she rips that dog bed apart every single few months. Which is why Jack's the only person with a plushy dog bed subscription. He gets a new dog bed every three months. True. But Rover is the marketplace that connects pet caretakers to pet owners. And the first sitter we used on Rover was River approved. She looked after Jack's dog when the family traveled to New York and Jack had River bored at a sitter's home.

15:36Naturally, we brought her plush bed. The sitter sent us pictures during the trip, which brought us huge peace of mind while we were in Central Park. So besties, next time you can't bring your pet somewhere, use Rover. That is River approved. Exclusively for new users of Rover, use code BESTONEYET20 for a$20 discount off your first booking. Valid only on eligible bookings. Offer expires January 24th, 2027. Terms apply. That's Best One Yet 20 for$20 off your first booking. For our third and final story, the comeback surprise stock of the year is, get this, Harley Davidson. It's up 60 % in 2026. But Harley's future depends on whether it can pull off an Old Navy moment.

16:17Now, Yetis, you know this show, so you know we did a whole episode on the best idea yet about Harley Davidson. Jack, what was our favorite stat from that episode? An estimated 700 ,000 people have a tattoo of the Harley Davidson logo. Seven. That's Vermont. I was going to say Estonia, but let's go with that, Jack. Statistically speaking, most of those Harley tattoos happened in the early 2000s. The early 2000s was Peacock. It was. The pride of Milwaukee sold 344 ,000 bikes in the year 2006. Back then, you bought a house you couldn't afford, a bike you couldn't afford, and you did it all with some nice old subprime credit.

16:51Well, Harley's stock fell 86 % in the two years after, during the financial crisis and the Great Recession. So you would think with the current cost of living inflation situation crisis, hog would be down like a Lehman again. But it's the opposite. Yeah. They just announced 4 % revenue growth in North America, and they're on track for their first full year of sales growth in North America since 2021. Harley Davidson's hog stock is up 60 % this year. It's like Bruce Springsteen slapped its butt in this economy. Americans are cutting back on boats, RVs, and every other big man toy out there. And yet the maker of the$30 ,000 half ton Harley is having its best year on Wall Street since, I don't know, Elvis?

17:28Yeah. But what Nick and I find fascinating is that Harley Davidson appears to be mitigating the loneliness epidemic. Because the Wall Street Journal interviewed a whole bunch of Harley buyers, and each one of them gave a very similar reason for buying one of these bikes. They want to get back on the bike, but they want to get back on the bike with their buddies. With the boys! It's a team mentality. They're calling up their buddy, Timmy. Harley didn't say AI one single time on their earnings call, but they said community nine times. Wait, repeat, we haven't seen any companies not say AI on their earnings calls, even CVS.

17:56As in the community of drivers who all ride together each Saturday afternoon. So the new CEO of Harley has been on the job only one year, but has started putting those groups of real riders into the Harley ads. Instead of actors, they're finding regular old Harley Davidson Herald, because authenticity sells. Stick them in the commercial, Jack. And the key to those commercials, Herald's riding together with two other guys riding and vibing. Because they're selling community, not carburetors. And it's working. Because in the era of screen addiction, camaraderie is compelling and a marketable emotion.

18:25Up and on a Harley, it's a solo activity that's really a group activity like skiing. But the existential risk to Harley, what is it, Jack? It's that just boomers and Gen X are buying right now. So Harley's got a new millennial play. It's their smallest, lowest cost bike ever at just$6 ,000. Looks like a Harley, sounds like a Harley, doesn't cost what a Harley costs. Costs like one month's rent in New York. That's the price, basically. I actually think the best way to get a millennial to buy a Harley, Nick, is to rebrand the lease and call it a subscription. Here's my Gmail and one of the spritzes with bacon.

18:56So Jack, what's the takeaway for our buddies over at Harley Davidson? Harley is hoping for its Old Navy moment. Yetis, in this economy, every brand is realizing it needs its own version of the value meal. But for high-priced businesses, you don't want to devalue your whole brand with a discount offering. The Harley is learning to love the entry level. Their millennial Harley, it's priced at one-sixth the average hog. Coach has done something similar by embracing outlet stores. And Mercedes has an entry level with their A-Class. And in 1994, the Gap went the furthest, pioneering entry-level brands with its old navy.

19:2880 % of the value for 50 % of the price. A budget brand that didn't dent the Gap's perceived value. Besties, Boomers, and Gen X, they are buying Harleys for community. Millennials and Gen Z, they're craving value. So Harley-Davidson's big bet on the future to solve their demographic problem? it's the$6 ,000 Harley Sportster. The value meal of motorcycles. Harley needs its Old Navy moment. Jack, could you whip up the takeaways for us to kick off the week? Canvas-friendly firing, IKEA's AI retraining program, and Nintendo's no layoffs policy. It's all the infinite game because psychological safety pops productivity.

20:06For our second story, the NASDAQ lost$2.4 trillion on Thursday, the worst single-day drop in NASDAQ history. But while Nvidia is down in 2026, Berkshire is at all-time highs. Because when you diversify, you don't panic. And our third and final story is Harley-Davidson. Sales are up to boomers because community sells. And to win millennials and Gen Z, Harley's launching its Old Navy value play. But besties, this pod's not over yet. Here's what else you need to know today. First, agentic commerce is here, but actually it's not, according to Uber. Uber reported that just four people booked an Uber through their AI agent last quarter.

20:42Okay, we repeat, not 4 ,000, not 4 million, just four people. Like, you can count them on one hand. Expedia said something similar. AI agents are not changing people's travel booking habits, at least not yet. And second, Whoop, the smart bracelet wellness tracker just partnered with Ulta Beauty to launch in its makeup stores. So you can now walk in for mascara, lipstick, and a health tracking wristband. actually reveals a unique detail about these health trackers. The top buyer isn't workout bros, it's wellness women. The period tracking feature in particular has been a surprise business boom.

21:14And speaking of surprise winners, finally, the big winner of the Elizabeth Holmes documentary, it's not Nathan Fielder, it's beef jerky. Specifically one brand, Think Jerky. So Elizabeth Holmes loves this turkey jerky and it appears in the documentary. Apparently she also ask for it in prison. The sriracha flavor that's seen a bunch of times in the movie, sales have jumped 345%. And it will probably be named to Forbes 30 Under 30. Now time for the best fact yet, which because it's Monday means some T-Boy trivia. What do we got, Jack? What is the one food product that's illegal to trade on financial markets in the US?

21:50The one food that the SEC has banned from commodities trading. You can buy futures contracts on beef, bacon, orange juice, pretty much anything in the grocery aisle. Except for one banned food, what is it? I'll give you a hint. Shrek. Are you crying right now, Jack? Are you tearing up over there? It's the onion. The onion trading ban actually goes back 68 years in this country. It's pretty bizarre. 1958, a couple of traders cornered the onion market. They pulled off a pump and dump scheme and a lot of farmers lost a lot of money. So in what appears to be a huge overreaction, the SEC banned commodities trading of just one produce, The onion.

22:24President Eisenhower really hated the onion. Not a fan. I know what you're thinking. Aren't shallots a pretty one-to-one proxy of onions? It's what we were thinking. Yeah, it is. Scallions too. Uh-huh. Bundle it all together. Well, now there is a movement to free the onion because this injustice. I wouldn't call it a viral movement. I mean, people are crying over it, Jack. People are crying over it. Isn't it just like a few MBAs who are like, and some chefs, Jack, some chefs. There's some chefs in there. I think it's an MBA trying to like get a college essay or something. Yetis, you look fantastic today.

22:56Jack, you are glowing in that jacket. And can I tell you one more thing? Yeah. Yetis, you don't know what it's like, but when Jack and I are preparing for these live shows, we're in the green room getting pumped up, maybe even playing ACDC as we prepare to take the stage. And it is the wildest feeling as a way to go out. And it has been the coolest experience doing it this year with you, Jack. So amazing. You shook me all night long. One more ACDC song. And yes, Nick, I completely concur. It's bittersweet that the tour is coming to an end. I had such a wonderful time. We may have to add a bonus show next year, and we definitely will be doing more live shows.

23:28So, Yetis, thank you for coming out all year long for the IPO tour. Nick and I love you, and we'll see you tomorrow. Can't wait to see you live again.

23:39And before we go, a happy birthday to legendary Yeti Shaley Fuller, who celebrated at the Valkyries Parade. Happy 12th birthday to Eitan Oded in Cherry Hill, New Jersey. Turning 12, and Vinny Fong from France is living on Long Island and loving cheese. Happy birthday. And Trish Paul, the best groupie yet in Boulder, Colorado. Have a fun time with the family. Maybe a baseball game, too. Trish, we can't wait to see you at the next live show. And Avante Kamara from Mumbai, India. Happy birthday, buddy. Happy birthday to Vinish Ram Krishnamoorthy, who doesn't start a day without the best one yet, listening in San Francisco.

24:12And Eugenio Neri is turning 8 at a soccer tournament in Naples, Florida. Have the best game yet. Happy 26th birthday to Julian Trevino in Fresno. And Elliot Kane in British Columbia, Canada having a wonderful birthday. And a big shout out and happy anniversary to Brandon Sciorda of Arkansas. Get this, this is the guy's eighth birthday shout out on this show. He must be an OG. Thank you so much, Brandon. And Brandon and Mariana Almaris have got a six-year wedding anniversary down in Duluth, Georgia. Congrats, guys. And a shout out to Steve, Tessa, and Josie Dundero listening back in Sun Valley, Idaho, from a hot tub while Cindy was actually at our live show.

24:46Pretty awesome. And to anyone else celebrating something today, make it a T-boy. Celebrate the wins.

24:54This is Jack, I own stock of Berkshire Hathaway and Amazon. And Nick and I both own ETFs of the S &P 500. Yetis, this holiday season, don't miss your chance to turn just looking into just bought it. Make it easy for your customers to say yes on the spot. PayPal Checkout is a trusted conversion engine fueled by 400 million active PayPal and Venmo accounts. And when you add Pay Later, you can turn holiday shoppers into regulars. 96 % of Pay Later shoppers are repeat users. So if you give them Pay Later flexibility now, it could help earn their loyalty all year long. PayPal is built for all business.

25:26Get started at paypal.com slash business. PayPal data, eight markets, March, 2025 to February, 2026. Repeat users defined as more than one Pay Later purchase in the past year.