🎂 “i50th” — Apple’s b’day tribute. Estate Sales Entrepreneurs. Also’s $1B DoorDash bike. +ProteinPod

0:28This is Nick. suddenly surging 3 % on yesterday, the final day of the quarter. The reasoned comments from President Trump indicating the war could end soon, but Jack, Q2, it's already looking fantastic on you. What's on today's show now? Oh, Jack, you tell me what's on today's show. For our first story, happy birthday to Apple. The world's most iconic tech brand turns 50 years old today. Apple, it is the greatest comeback story in business history, but we got an idea for the next 50. For our second story, what do Amazon, Rivian, DoorDash, and the designer of the iPhone all have in common? A$1 billion self-pedaling electric bike startup with a ridiculous name.

1:04And our third and final story is the hottest new shopping trend because it's also the oldest. Literally. Estate sales are surging among young people thanks to old people arbitrage. But yetis, before we hit that wonderful mix of stories. Earmuffs on this one, boomers. No, no, it's good. It's good. You're going to like it. We got some big news for the show. Because we are launching the very first protein podcast. to sprinkle on some context. Please, Jack. We've all been following the protein maxing trend for the last couple of years. Starbucks is selling protein foam. Chipotle is selling double protein barbacoa.

1:37Beyond meat, they just launched protein water, whatever that is. Jack, Buffalo Wild Wings launched a proteini, a martini with protein. So we thought if Khloe Kardashian can create protein popcorn, why can't we sprinkle on some protein to this podcast? So Nick and I worked with scientists at the Whey Institute of Protein Physics in collaboration with Spotify's advanced audio team to create this, the first ever audio product that also delivers protein. We're talking 24 grams of protein per an episode. Scientifically formulated to deliver one gram of protein for every minute of the show. You know what that means, Yeti?

2:13So far, you have listened to three grams of protein. Look in the mirror. You've already beefed up yourself like Jeff Bezos. Jack, look in the mirror again. Your calves are looking straight Caitlin Clark out there. So think of this episode as a meal replacement. And then think of the ads in this episode as a coupon that gives you a free protein. Quick heads up though. Yes. This product has not been evaluated by the FDA. Or the FTC. Or the SEC. Yet. But the first protein-infused podcast is making you look fantastic, besties. Happy April Fools. Let's hit it, Nick. Oh, yeah. Let's hit it.

2:55I 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.

3:10Start the show. First, a quick word from our sponsor.

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4:25Get started today. Monarch. Yeah, it is. Happy tax season to all those who celebrate. It's like March Madness, but it's April Madness. Tax season is actually the one time of the year most Americans review their finances. Yeah, but it shouldn't be. Monarch has all your accounts linked for a real-time look at your financial future, available anytime. I started using Monarch just once a month for when I pay my bills. But now, almost daily. Checking my net worth, my investments, and my transactions. Jack actually is a problem. I have to get him off this thing. Yetis, we think you should simplify your finances with Monarch.

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5:35For our first story, happy birthday to you. Happy birthday to you. Happy 50th birthday to Apple. Well, actually, the best comeback story in business history. And these Steve Jobs quotes prove it. Yes, they do. But to win the next 50 years, Apple has to think different than OpenAI and Meta. All right, Jack, let's whip out the birth certificates here. April 1st, 1976, what do we see? What's going on in the delivery room? Steve Jobs, Steve Wozniak, and the other guy launched Apple in a garage in California. Ronald Wayne, we see you. We know you're a Yeti. First product, by the way, the Apple One.

6:10How did it do, Jack? Well, it was a computer without a monitor, without a mouse, and without a keyboard, so not so good. It was a rough start. They stayed in that garage, but the Apple II was the first hit at Apple. And the Apple II was eventually succeeded by the Macintosh, aka the Mac you're probably typing on at work right now. But besties, Apple is Apple because of Steve Jobs, who happened to have been exiled from the company in 1985. Steve Jobs was replaced by an MBA from PepsiCo. Can you believe that? Warden guy selling sugar water. Awkward situation too, right Jack? Because Steve Jobs recruited that Pepsi guy to join Apple, and then that guy he recruited orchestrated his ouster.

6:49We see you too, Mr. Scully. But during Steve's exile, he founded Next a computer company that Apple would eventually go on to buy. And during his exile, Steve Jobs acquired Pixar from Lucasfilm. And then he IPO'd Pixar. Oh boy. Released the first ever computer animated movie, Toy Story. Keep going. and then sold Pixar to Disney. If there was a LinkedIn back then, Steve Jobs would be lit. This is basically a sabbatical, and it's like one of the best tech and business resumes of all time. So the sabbatical he made billions of dollars on. On the other hand, Jack, how did Apple look while Steve was gone?

7:23Apple sans Steve was not so pretty. Nope. By September of 1997, Apple was two months away from bankruptcy. It was that bad. So Apple did what you gotta do in these situations. You say you're sorry, and you ask if Steve will come back. You boomerang Steve back there. And that turned Apple from a tech company into a marketing company, the best marketing company of all time. Apple didn't win with superior technology. They won by making tech work for regular people and communicating it in their marketing. For example, Jack, what would Michael Dell boast about when he sold his Dell computers? Dude, you getting a Dell?

7:59He would boast that his computers had better RAM, more gigabytes, and an Intel Pentium 2 processor. Dun, dun, dun, dun! cannot compute, but here's what Steve Jobs said about his computers. In 2001, when he launched the iPod, he didn't say, this is a 5 gig MP3 player. No, no, no, no, no. Steve Jobs said, this is a thousand songs in your pocket. In 2007, when he launched the iPhone, here's what he said, we are all born with the ultimate pointing device, our fingers. And the iPhone uses them to create the most revolutionary user interface since the mouse. He was talking about the touchscreen. And And then in 2011, when he launched the iPad, here's what Steve Jobs said.

8:37He said, it's in Apple's DNA that technology alone is not enough. It's technology married with liberal arts, married with humanities, that yields us the results that make our hearts sing. Sit down, stand up, and write a sonnet again. Yet his features don't sell products, feelings do. And Steve Jobs was more therapist than marketer. And we know what? We got the receipts to back it up. What are we seeing in the numbers, Jack? When Steve Jobs took over again as CEO in 1997, Apple's worth$2 billion. And when Steve passed away in 2011, Apple was worth 150 times more than that,$337 billion. And by 2023, with Steve's successor, Tim Cook, in charge, Apple had 10X'd its value again to become the first ever$3 trillion company.

9:22Which brings us yetis to today. Apple is celebrating their 50-year party over at their giant circular, probably going to turn into a spaceship headquarters. Paul McCartney is reportedly going to perform live. Not too shabby. Will Ringo be there? I don't know. Maybe. My invite got lost in the mail, Jack. No, what I'm hoping is that Apple announces a surprise new product on their 50th birthday. Oh, you think of what I'm thinking, Jack? Not too late for the Apple car guys. No, I thought you were going to say the iToilet. Remember our iTushy idea? The Apple smart toilet? Just launch it. We know you're listening.

9:51Throw away your toilet paper forever. So Jack, what's the takeaway for our buddies turning 50, middle-aged over at Apple? Apple will win the next 50 years by protecting your privacy in the age of AI. So yet he's the big question. What is next for Apple? Well, according to PFWTMs, people familiar with the matter, it is widely reported to be a home tabletop assistant. Picture Siri, but in physical form, sitting on your counter, answering any questions you have, and following you with a screen as you walk around the kitchen. Sounds lovely, but the big threat is that the phone loses its role as people's primary computing device.

10:26Instead of the iPhone, you'll talk to an always listening and always watching wearable AI device. And now we think Apple can win that future if, unlike Meta and OpenAI, it protects people's privacy. Apple is the one company that can figure out how to put cameras into glasses or another wearable, but not create a dystopian surveillance state where we're all being recorded all the time. Yeah, because OpenAI is the new Meta, Anthropic is the new Microsoft. Apple needs to be the same Apple and put privacy first. Because in the age of AI, privacy has never been more premium. For our second story, Rivian is struggling to sell cars, but their electric bike, it's a billion dollar valuation and just got an investment from DoorDash.

11:09This e-bike is designed by Johnny Ive. iPhone Johnny Ive. Has 1 ,000 orders from Amazon. The company. So we jumped in T-boy style. Oh, Jack, take us back to 2022. Rivian went zero to 60 at their IPO. No, they went from zero to$153 billion valuation. And with that level of confidence after Rivian went public, they decided to launch an electric bike startup. They called it also, as in Rivian also does bicycles. Basically, an adverb got promoted to become a proper noun in this situation. Rivian also hired Johnny Ive to design also. That is also true. Steve Jobs, his right-hand man, designed the iPhone, and now he was designing Rivian's new electric bike.

11:52That also bike launched last year, and we covered it on the pod. And that was that. It was a new electric bike company, a new option on the market. Sold by an electric car company. It was an interesting story. We thought we'd done our jobs and moved on. But then also launched the Quad. El Quattro. A vehicle with not two wheels like a bicycle, four wheels like a golf cart. Jake, how would you describe this exactly? It looks like a golf cart that went to MIT. But the driver actually pedals like a bicycle, kind of like an e-bike. It's a little bit like a self-pedaling Tesla bike. Sort of, kind of.

12:22The motor makes it go fast, but it can legally operate in the bike lane because it's much smaller than a car. And that's the key, which leads to also slogan, make the world a smaller place. So this quad potentially has the best of both worlds. The utility of a four-seater car, but the nimbleness of a bike. Well, get this Yeti's, DoorDash happens to agree that this may be the new ultimate creative transportation vehicle that we've all been waiting for. So they just invested$200 million into this startup also, and they get one seat on the board of directors. It is literally and figuratively a unicorn.

12:58Like you have to believe in this thing to see it. Oh, also, this makes also an actual unicorn because it's now worth a billion bucks. For context, Rivian is worth$18 billion. So also, it's something. It's catching up. But besties, DoorDash isn't interested in the bikes. What they're interested in is making the quad self-driving. So that that four-wheeled vehicle can deliver food in New York City faster than cars by using the bike lane to bypass all the traffic. Basically, DoorDash is investing in a self-pedaling pad thai. This quad vehicle, it's also more efficient than a dasher riding a bicycle in New York City because it can handle 400 pounds of that pad thai, Nick.

13:36Which is a lot of pad thai. Oh, but pause the podjack because I think someone else is knocking at the door here. It's Amazon. Yeah. Amazon just pulled a Meg Ryan. They want what DoorDash is having. Amazon was already a Rivian investor and has 25 ,000 Rivian electric vans doing delivery for Amazon already. And in December, they ordered a thousand of these quads from Also to handle last mile urban delivery. And with a swappable battery, there's no 40 minutes of charging for this quad electric bike. So add it all up and also has quietly built a pretty insane all-star team of investors, stakeholders, and like more.

14:10Just Total Tech Brands, Amazon, DoorDash, Rivian, the designer of the iPhone are all involved with this billion-dollar self-pedaling bike company. It's like the Avengers. It's like the 94 Knicks, Jack, and I'm glad you didn't say the 94 Bulls. But the biggest risk that we see from bikers who hate the fact that a four-wheeled vehicle is hogging the bike lane, they're going to lobby to get this thing out of here. And I'm Donnie's, New York. I think these Amazon-y bike cart things could get banned from the bike lane pretty soon. Which would put a huge dent in the value proposition. Hell hath no fury like biker anger in the bike lane, Jack.

14:44So what's the takeaway for our buddies over at also the billion-dollar self-pedaling bike brand? Enterprise. It is simply an easier business model. All right, now, Yaddy's full disclosure. Jack drives a Rivian car. That's fantastic. Incredible car. But the business of Rivian is struggling right now. Their first two consumer cars, the pickup and the SUV, they're very low-volume businesses. So for five years, Rivian has lost 25 billion bucks. Hang on a second. I want to say that again. For the last five years, Rivian has lost$25 billion of money. They're always like a few bad quarters away from bankruptcy over there.

15:18It's a great car, but consumers are fickle. And there's so much competition. And the federal incentive to buy EVs has gone away. And that is why also is focusing on enterprise. Selling bikes to businesses, not to people. One order from DoorDash and one order from Amazon. Boom. You just sustained like two or three years for this company. And in this economy, consumers are pinched, but businesses are flush with profits. We're seeing it in the software industry, too. OpenAI is making a hard pivot right now from all those consumer apps they announced last year to enterprise. Jack, and what do we say about enterprise?

15:50It's simply an easier business model. It's the sugar daddy business model. Now, a quick word from our sponsor.

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17:09For our third and final story, I'm going to start this with the place to find a deal these days. It ain't e-commerce, it ain't malls, and it ain't Shein. It's estate sales. It's estate sale arbitrage, and it's creating a whole bunch of Gen Z estate-trepreneurs. Now, Yetis, look, we should point out baby boomers, they get a lot of heat these days, right, Jack? They're hoarding their big houses. They're hoarding their money. They're buying third yachts for their second homes. They outsource the factories. They insource the HOA. But give them a break, Yetis. Yeah, give them a break. You know, right, Jack?

17:42Because if you don't, they'll run you out of your head. No, basically old people have always done this kind of thing. In fact, Yetis, there are now 62 million Americans over the age of 65. Jack, can you sprinkle on some context? There are more senior citizen Americans than there are Canadians. All Canadians. Now, we've talked on this pod about the coming$84 trillion wealth transfer from baby boomers to their heirs. Yeah, the great wealth transfer. But what about the great transfer of their stuff? No one's talking about that. Because boomers were the collector generation. Yes, they were, Jack. They came of age in an era of mass production post-World War II consumerism.

18:18That's right. That retro 1950s fridge that was built to last, your grandpa has three of them still in his garage in Del Boca Vista, Florida. So, Yetis, the silver tsunami has begun. It has. Old people are selling their huge houses to move into smaller homes. But you know what that means? What does it mean, Jack? Estate sales. Estate sales. Where boomer supply meets Gen Z demand. Because Yetis' 30-year-olds are estate maxing right now. If you want a mid-century modern decor locked in the Mad Men living room, if you want crystal that you can't find at Ikea for a price you can afford, one sec, Jack, is that a vintage orange Le Creuset Dutch oven?

18:53Oh my God, I can only find it here. At the estate sale. Los Angeles has 100 advertised estate sales per weekend. That's an all-time high. They're hiring DJs and bartenders at these estate sales, so you end up splurging on jewelry because you're two Negronis deep. It's a scene. You could meet your future husband or wife at an estate sale. In fact, estate sales, if it's such a high note, that Vogue magazine covered them last week. With this headline, the real treasure is waiting at an estate sale near you. Now, Jack, let's break down T-boy style the estate sale from an economic perspective. Okay, on the supply side, it's not just funerals.

19:26This isn't a story about debt. Yeah, in fact, experts say there are four D's that drive estate sales. Downsizing, divorce, decorating, and yes, also death. And on the demand side, we are seeing it driven by a wave of trends. First of all, in this economy, there's more Americans buying secondhand to save money. We've called it the thrift economy yet. He's thread up in the real real. Their stocks are at all-time highs. Plus the sustainability trend, plus the anti-screen trend, Estate sales are a response to over-consumerism in 2026. Exactly. The estate sale is the alternative to the hangover of a she-in haul.

20:00But ironically, estate sales are being amplified by social media. Jack, remember cottagecore, grandmacore? Who could forget coastalcore? What about coastal grandmacore? Pinterest trends that began with estate sale hauls. And besties underlying all of it is one core economic principle. Estate sale arbitrage. That's where you should push cha-ching, but you already pushed it. and we only get one per show. I know, it's our budget. So Jack, what's the takeaway for our buddies over in estate sales? Say hello to the estate-trepreneur. Yeah, it's this whole story we've been talking about. It's actually a new career opportunity, the estate sale entrepreneur.

20:36Because estate sale influencers are hitting up 15 estate sales per day. They are. And turning it into their full-time income source. The key here is that the estate sale is a perfect arbitrage opportunity, something valued low in one market, but high in a different market. If you can buy it low in one market and sell it high in another market, that's your arbitrage profit. For example, an estate seller wants to get rid of that silverware, so they'll give you the whole set for, I don't know, 10 bucks. But a dink who just got married would gladly pay 100 bucks on Facebook Marketplace for this wonderful silverware.

21:08They just don't make them like this anymore. That's arbitrage. Or an estate seller may be liquidating their vintage band tees because they got so many and they just want to get rid of them right now today. But on eBay, a Grateful Dead fan will pay 50 bucks for that Dolores Park concert shirt that you got for 50 cents. Top dollar. Basically, estate entrepreneurs are plundering estate sales and flipping them on secondhand sites, profiting off the estate sale arbitrage. And with the silver tsunami, there is enough deal flow for an estate sale to be your career. Boomer basements are your supply chain.

21:39Besties, this is AI proof. It is in-person. It is a rare combo of fun and profitable and doing something good for the world all while touching grass. The estate sale is happy, the buyer on eBay is happy, and planet Earth is happy from your estate sale entrepreneuring. Estate sale arbitrage. It's creating estate-repreneurs. Jack, could you whip up the takeaways for us for Saviche Wednesday? Apple is celebrating 5-0 today. So we celebrated Steve Jobs' marketing brilliance. So to win the next 50 years, Apple should protect our privacy from AI. Apple should launch the iToilet. No, no, no. Just focus on the privacy.

22:15Focus on the privacy. For our second story, Rivian's e-bike startup signed a$200 million self-driving deal with DoorDash and sold 1 ,000 quads to Amazon. Self-pedal and pad Thai. It's all because of enterprise. It's simply an easier business model. It's the sugar daddy business model. And our third and final story, there is definitely an estate sale this weekend in any neighborhood near you. And if you can buy stuff there, you can sell it for more on eBay and Facebook Marketplace. That is estate sale arbitrage. But yetis, this pod's not over yet. Here's what else you need to know today. First, Whoop, Whoop, Whoop is officially a 10-headed unicorn.

22:50The techie fitness band just hit a$10.1 billion valuation. It's backed by Ronaldo, the soccer player, LeBron James, the basketball player, and everyone else who plays with any balls and wins championships. Whoop now has as many users as Peloton does, two and a half million, but half as many as the Oura Ring, we should point out. And with a billion dollars of annualized sales, Whoop plans to IPO right after they get a consistent eight hours of sleep. Second, OpenAI is upstreaming their very own IPO by offering shares early to you, the public. Sam Altman announced yesterday he's allocating some of the company's private stock to ARK, the private investment company.

23:26That's right. Cathie Wood's investment firm will include exposure to OpenAI in several ETFs that you can trade just like stocks. And finally, Allbirds has officially been sold. The unofficial uniform of Silicon Valley is no longer flying public. Allbirds became fallbirds. The valuation around the IPO was$4 billion. They just sold for under$40 million, which is a 99 % decline in valuation. They're being acquired, by the way, by a big brand-buying firm called American Exchange Group. Not quite as cool. Now, time for the best fact yet. This one whipped up by Jack and me for Women's History Month, which just wrapped up yesterday.

24:02But you may have missed this, Yetis, because last month you heard the WNBA secured a record deal, a 400 % pay raise. What you may not have known is that it was negotiated by a Harvard economist. Professor Claudia Golden, she advised the deal and it was based on her own personal research. Because the first woman to win a solo Nobel Prize? Who was it? It was her. It was Claudia Golden. This professor won it three years ago. And that study of pay equality was the key in increasing the WNBA salaries by 5x. Yetis, you're looking fantastic today. Jack, you are glowing right now. In one week, I'll be even more glowing on stage at Irving Plaza in New York City.

24:42We only have general admission tickets left. That's all that's left. But you'll be glad you're standing because this show is going to be fantastic. Grab your tickets now. We got a link in the episode description. Oh, and by the way, congratulations. You've now consumed 24 grams of audio protein. All right, let's wrap it up. We'll see you in tomorrow's show.

25:05And before we go, a happy birthday to Mr. Feeney, who turns 99 years old. You know, I learned from Mr. Feeney that SCUBA is an acronym, Self-Contained Underwater Breathing Apparatus. And Peter Kuretis, a fan of T-Boy and the best idea yet, is turning 12 in Adelaide, Australia. Happy birthday, Peter. And happy birthday to Bjorn Carlson in Plymouth, Minnesota. May your drives be long, may your putts be short, and may your irons be seven. And Chris Landauer, happy birthday just outside Chicago in Illinois. Happy birthday to Liv Golden in Westchester. And Phoebe, enjoy the 27th up in Toronto. She wants us to play at the Scotiabank Arena in Toronto, by the way, Jack.

25:42We're going to do it before her 27th birthday, I think. And Charles Goffnett, the Michigander in Phoenix, is turning 45. But is this his real birthday or did his parents make it up as an April fuels prank 45 years ago? That's the question. And congratulations to our buddy, Philip Johnson and the StarCloud team on passing a billion-dollar valuation for putting data centers in space. Just look up. This is Jack. I own stock of Amazon and Disney. Nick and I both own stock of Apple, Chipotle, Spotify, and Peloton. And Nick owns stock of The RealReal and Beyond, the protein-based plant company. If you work in university maintenance, Grainger considers you an MVP because your playbook ensures your arena is always ready for tip-off.

26:27And Grainger is your trusted partner, offering the products you need all in one place, from HVAC and plumbing supplies to lighting and more, and all delivered with plenty of time left on the clock so your team always gets the win. Call 1-800-GRAINGER, visit grainger.com, or just stop by. Grainger, for the ones who get it done.