📖 “iFold” — Apple CEO’s 1st day. Gap’s 1994 strategy. BYD’s Carmageddon. +Baldness Stocks

0:28This is Nick. all the Virgos out there, but Jack, we got three fantastic stories for today's T-Boy. For our first story, Apple's first new CEO in 15 years starts today. Today. John Ternus takes over for Tim Cook. And this guy is already folding. Literally. For our second story, shares of The Gap surged as much as 24 % in one day last week because of one year. The Gap is obsessed with 1994. And our third and final story, the most important car in the world right now is a car you've never seen before and possibly never will. Yetis, we need to tell you about BYD and Carmageddon. But yetis, before we hit that wonderful mix of stories.

1:06What a mix for a T-Boy Tuesday. Best mix of September, Jack. The hottest trade on Wall Street right now is bald. Bald! It's the biggest moment for the hair loss industry since Mr. Clean. Baldness stocks are seriously booming. Get this. Abski, they make a baldness-beating drug. Their stock has doubled this year. Cosmo had a successful hair growth test. Its stock rose 40 % that day. Oh, and Jack, the number one IPO of 2026, what is it, man? It's Veridermix, the hair loss business. Their stock is up 500 % since February. And they brilliantly chose the ticker symbol, Maine. Yeah, M-A-N-E, like a lion's mane.

1:41You see what we did there? What they did. These bald stocks, they're gonna less George Costanza, more Vin Diesel. Yeti is the pattern hair loss. It affects 50 million men and 30 million women in America. But there have been zero, count it, zero, newly approved drugs in the last 40 years to treat it. Jack, it's always been Rogaine, new and improved Rogaine, and generic version of Rogaine. Just for men? That's not for growing hair. That's for changing the color of hair. Just for who? You're just limiting your market share, guys. That's why your uncle just flew to Turkey for an experimental treatment the FDA won't approve.

2:11But the era of hair loss innovation, it is flowing again, baby. Sorry, Ozempic. Hair loss is the new weight loss. And baldness has never seen more growth. Call it the Jason Statham surge. Because there is nothing sexier these days than investing in bald. Yetis, let's hit our three stories.

2:56First, a quick word from our sponsor.

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3:56Because we pioneered it for him, Jack. Resties, 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. Another nine. Yetis, we've all heard of side hustles. You find a way to make extra income on the side of your day job. But what if your side hustle was more of a side leisure? And what if it involved hitting golf balls every minute of the day? I think that's called a hobby. Actually, no, this is the real idea behind launching a franchise of Another Nine, the ultimate indoor golf experience.

4:32Another Nine is a network of golf simulators open 24-7. The business is built around private simulator suites that guest book by the hour. And it's powered by the same TrackMan technology used by the PGA Tour. Now, Besties, we're not talking about playing golf here. We're talking about a franchise opportunity to open up one of these things and run it. And it'd be semi-passive income. There's no staff needed on site. So there's some management required while the golfers are swinging woods, but not so much management that you need to commit to this fully. Actually, Another Nine was started by a couple of guys with young kids who just wanted to play more golf anytime they wanted.

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6:19For our first story, today is day number one of John Ternus, the new CEO of Apple, the Ternus era. His job? Launch the iPhone Fold next week and make AirPods with cameras in them without creeping out everyone around. No big deal. Good luck, guys. Oh, yeah, he's the captain of Cupertino, the sensei of supply chains, the Ina Garden of Apple's pie. We're talking Timmy Cook, the operator who grew Apple stock by 24-fold in the last 15 years. Let this man cook. Because$10 ,000 invested the day Tim Cook took over Apple in 2011 is worth a quarter million dollars today. 24-fold gains. Wow. That CEO, handpicked by Steve Jobs, has now retired from his day-to-day work at Apple after 15 years.

7:07Starting today, Tim Cook is the chairman of Apple. So Apple's got a new CEO. His name is John Turtis. Now, Tim Cook, he was an operations guy, wasn't he, Jack? He didn't launch products. He profitized the existing ones. Tim Cook invented the app tax. He grew services into a profit puppy. He made Apple into a club everyone wanted to join. John Turnis, on the other hand, is known for hardware, and Apple is due for some new hardware. Oh, yes, it is, Jack, because the Apple Vision Pro, that headset was kind of rotten from Apple. The last successful hardware device Apple launched was AirPods, and that was 10 years ago.

7:40So add all up, besties, and meet the new boss, not the same as the old boss. And John's first week of work is insane. Get this guy some cupcakes! Apple has to launch a new iPhone in eight days. Yeah. And it's expected to fold. Get this, leaks and reporting are suggesting we'll see a normal-sized iPhone next week that opens like a book. An iPhone that turns into a mini iPad, and it's expected to cost$2 ,000. Okay, but pause the pod, because here's the problem, right, Jack? The world has turned their screens vertical. There's no going back. The apps that consume all of our time these days are Instagram, TikTok, YouTube Shorts.

8:14We're talking vertical feeds, baby. Now, an iPhone that opens up could turn content horizontal again. Or it won't. The iPhone Fold could be a niche experimental iPhone that doesn't catch on. We think it's going to be the latter. Because Samsung has had a foldable phone on the market since 2019. And it's never exceeded 2 % of their phone sales. But either way, next week, Apple's new CEO is going to go full origami on the iPhone. So the iPhone Fold, we think it's going to be like those$4 ,000 Mac computers. An ultra-premium product for niche power users only. Basically, you're only going to buy an iPhone Fold if you can expense it because you use it for your day job.

8:52If you think you're going to get an Oscar, yeah, that's when you're going to get one. And a market that small, that's not going to 24x the stock, which is John Ternus' bar that Tim Cook set for him. Said John Ternus, better get some cupcakes ready for him, guys. So Jack, what's the takeaway for our buddies over at Apple? Cameras are both the solution and the challenge. Yet he's back in April on Apple's 50th birthday. We said that to win the next 50 years, Apple needs to protect the P word. They need to protect your privacy in the age of AI. Well, that was prescient, Nick. It was. Because AI hardware means hardware with cameras that are always on.

9:27And after the iPhone fold, Apple's reportedly going to be launching wearables with cameras on them. AirPods with cameras, smart glasses with cameras, and a home tabletop assistant with cameras. We're talking always listening and always watching wearable AI, but it's giving surveillance. And the backlash to cameras everywhere that are always on, it's growing. We're going to cover more than that tomorrow. We got a really good story ticked up for you. So here's the situation John Ternus is seeing. Open AI, it's the new meta. Anthropic is the new Microsoft. But Apple needs to be the same Apple. Protect the P word.

9:57In the age of AI, John Ternus needs to protect your privacy. For our second story, shares of The Gap surged 13 % in one day after big beauty and Old Navy news. Because The Gap has identified the best year in history. Best year ever. 1994. And if you were born in 1994, you better comment and share this episode right now. Feels like 94, and congratulations, you're the best. But first, Yetis, have you ever wondered why The Gap does dance routines in so many of their commercials? Get this, it's because The Gap started as a record store. As anyone who's ever had a Gap sweatshirt knows, Gap was founded in 1969 in San Francisco.

10:35But did you know that they sold records in that first store along with the jeans? Did you know that the Gap's original name was actually PAD, P-A-D, and what does that stand for, Jack? Pants and discs, the two things the Gap sold. Well, lately, under CEO Richard Dixon, the Gap has been feeling the vibes, and investors are dancing to the numbers. Sales for the Gap brand rose 10 % last quarter. That is size 16 husky growth right there. Jack, how about the$89 Hailey Bieber jeans? The fastest sellout in the Gap's denim history. Jack, how about the Cardi B commercial for their sister brand, Old Navy?

11:07It was the most viewed campaign in the Gap's history. Even Mr. Beast just did a sweepstapes with the Gap's Old Navy because why not? Whoever fits the whole family into these sweatpants wins a free mansion! Besties in the last year, the Gap has been worn at the Oscars, at the Met Gala, and the former CEO, Mickey Drexler, was on our show. But we've identified the reason that the gap is growing again. Sorry, Jack, pause the mic. It's not a reason, right? It's not a reason. It's a year. It's a year. It's 1994. Friends debuted on television. The New York Rangers won the Stanley Cup. O.J. Simpson was chased and Amazon was founded.

11:41You had The Lion King, Pulp Fiction, Forrest Gump. All of those hit the theaters. And Mariah Carey, she whipped up a song you're going to start hearing in about two months, according to my watch. How about Pizza Hut? First ever online pizza sale? Yeah, 1994. But what's interesting to us is that everything the Gap is doing right now goes back to 1994. Jack, why don't you whip out Exhibit A in our evidence? The Gap just relaunched Gap Beauty to get in on the smell-maxing trend. They reformulated their original eau de toilette to be a stronger eau de parfum. But if the fragrance smells old, it's because it is.

12:13The Gap just tweaked the scents a little bit, but it looks exactly like their iconic 1994 Gap Beauty launch. So the Gap is bringing back beauty because Gen Z really cares how they smell. And in 1994, perfumes sold great for The Gap. Gen Z, they buy more cologne than khakis. How about Exhibit B in our evidence check? The Gap announced last week they hired a new CEO for their Old Navy brand to bring the brand back to its glory. See, Bessie's Old Navy sales have fallen for four straight years since peaking back in 2022. When were the glory days? It was actually 1994. The year Old Navy launched and became an immediate hit.

12:46And Exhibit C is the outlet stores. In this economy, The Gap is launching more factory locations. Athleta, the Gap's athleisure brand, they're getting their first outlet store for half-off leggings this year. And when did the Gap open their very first outlet store, Nick? You guessed it, Jack. 1984. I mean, 1994. 94. Add it all up, and it's like the Gap CEO Dick Dixon got in a hot tub time machine. I mean, what's next, Dick? You gonna hit up Blockbuster, turn on the Walkman, and start making overalls for Beanie Babies soon? Just don't bring back the strike that stopped the baseball season early.

13:19The Yankees, they were destined for the World Series. We saw it on our VHS tape. So Jack, what's the takeaway for our buddies over at The Gap? The archives are your innovation lab. Yetis, you already know that nostalgia never dies. We've told you that before on the show. And according to our 20-year rule of nostalgia, the 90s and 2000s are hot again. But here's the problem. Just playing the nostalgia card, that doesn't always work. Consumers know it's a lazy move. Another Jurassic Park sequel. Hooray! It's not going to outsell the first one, trust us. But what's unique about what Gap is doing, they didn't just choose a general era.

13:52They chose a specific year. Exactly. The Gap is literally putting its best hits from 1994 on repeat. They've made a 94 remix. The Archives, they are your innovation lab. So choose a specific year and push play. Now, a quick word from our sponsor. Nature Raised Farms. Yetis, you walk into the grocery store, excited to cross off your list. That empty shopping cart is an ocean of opportunity. Then you get to aisle six and it hits you. Oh boy. Choice paralysis. Yes, we whipped up takeaways about this on the pod. Too many options. It's like a game of chicken. Do I go with that chicken or that chicken?

14:29Yeah, the irony of having so many chickens to choose from, you can't choose. This one's raised on a farm. This one's raised on a prairie. Is this range-free or cage-free? Choice paralysis of all these options. It makes us feel dumber. So nature-raised farms is built on the simple belief that food shouldn't be complicated. Especially chicken. Definitely shouldn't be complicated. but the freezer aisle, it makes it that way. Too many options, too many additives, a lot of random compromises. But Nature Raised Farms chicken is free from gluten, dairy, and soy made with no seed oils or artificial ingredients.

14:55You know what you're getting. So you can make a simple decision, get on with your day without stressing about the chicken parm recipe. Because that recipe, it's really simple and so should be your chicken. Nature Raised Farms, it's built on a simple belief. Food shouldn't be complicated. This episode is brought to you by Bill, the intelligent finance platform that helps businesses scale with proven results. Yet he's paying and getting paid? That is a pain for small and medium-sized businesses. Jack, did you send the invoice? Did they see the invoice? Did you remember to remind them to see to pay to remember to pay the invoice?

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15:56That is proven infrastructure you can actually trust. So besties, talk to an expert at bill.com slash proven and get$150 gift card as a thank you. That's bill.com slash proven. Terms and conditions apply. See offer page for details. for our third and final story the most impactful car in the world is one that you've never even seen the car is byd because china makes the best car in the business and it's causing a carmageddon oh carmageddon but yet he's in order to tell the story uh call up nick saban because china's economy is dominated by national champions as a florida gators fan i hate that reference you just made.

16:36But you know it works, Jack, and why is that? Well, here's how it works in China. The Chinese Communist Party announces a national priority, encouraging startups to join one particular focus. And then cities support those startups with tax incentives, workforces, and factories. Eventually, a clear winner emerges. And for electric cars, that winner is BYD, stands for Build Your Dreams. BYD is a publicly traded company, and it was one of the final big stock market successes of Warren Buffett. The market cap, by the way,$120 billion for BYD. Could you sprinkle on some numerical context, please? That is twice as valuable as Ford Motor Company, but one-tenth as valuable as Tesla.

17:13It's about 20 lifts. But BYD just announced a major motor milestone. That is terrifying the whole industry like they honk the horn. Here's the news. On Friday, BYD confirmed they're in conquest mode. Oh boy. Because they now export more cars than they sell in China. In fact, get this, China will export 10 to 12 million cars this year. That is more cars exported than the entire car output of the United States and Europe. Well, yet is 10 to 12 million cars coming from China? The world is reckoning with a Carmageddon. Carmageddon. The invasion of Chinese-made cheap cars into Western markets, it's here.

17:49And it's causing factories in the West to be shut down. Because BYD is famous for their seagull. Ah, the seagull, a shockingly low-priced electric car that goes for under$10 ,000. Now, we know what you're thinking. Made in China? That must be the cheapest seagull you've ever seen. Made in China, you're thinking flimsy, plastic, broken, like the$3 charger on Amazon that busted up your iPhone. Well, that's not the situation, actually. No. And BYD, they don't just make budget cars. In fact, the CEO of Ford, Jim Farley, has a higher-end BYD, and what does he think of it, Jack? He thinks it's his favorite car to drive.

18:21In fact, the CEO of Ford Motor Company called this Chinese sedan the best car in the business. The Ford CEO is obsessed with a Chinese chassis. Get this for innovation. Some BYDs have a feature that lets the car float like a boat if it gets stuck in like floodwaters. True story. That's not a button you can press on a Chevy as far as I can tell, Jack. The only button you can press that on is a Boston duck boat for those duck boat tours. Those are a lot of fun. Now, this innovation and price is so scary to Detroit that we in America have banned Chinese cars. You can't park here if you're a Chinese car.

18:56Nick and I have seen BYDs, but only when we've visited other countries. I just saw one cruising around Rome. They're pretty popular there already. Now the EU and their domestic car industries, they're equally scared of BYD, but they can't ban Chinese cars because not all 27 countries can agree to. Which is why in Europe, 11 % of all cars sold this year have been Chinese made. To sprinkle on some context, 11 % of cars in the US are electric. So what we're saying is the same percentage of cars sold in Europe are Chinese as sold in America that are electric. Chinese brands are turning into a tsunami.

19:30It's not just the car industry, and a wave of them is coming to the U.S. From Chinese coffee shops, like Luckin Coffee, to Chinese fashion, Leaning sneakers, which Steph Curry wears now. BYD, it's illegal in America, but there is no stop in this trend. It's Carmageddon, and it's coming to the world's shores. So Jack, what's the takeaway for all our buddies trying to build their dreams? The bull case for America? It's that China Shock 2.0 motivates us. You see, Yetis, economists have a term for the era when we outsourced a bunch of work to China. It's called China Shock 1.0. Now, economists are dubbing China's technological catch-up to us, China Shock 2.0.

20:09You see, China has some advantages that we just simply can't match. Basically, on cost and planning. On the cost side, a Chinese factory worker is paid one-fourth as much as a U.S. factory worker. And on the planning side, one person is in charge in China and everyone obeys him. But we do have the advantage when it comes to creativity and innovation. Which is why we hoped this year would be the year U.S. companies listen to consumers and offer low prices on cars. Late Automotive has a$25 ,000 car and Ford just announced a$30 ,000 electric pickup. And we hoped this would be the year self-driving makes life easier and safer and more convenient.

20:41Who's leading in that? American companies. Waymo is in 16 cities now, and RoboTaxi and Zoox are on the road as well. You see, with China Shock 2.0 besties, American ingenuity is being shaken out of complacency. At least that's the bull case.

20:58Jack, could you whip up the takeaways for us for T-Boy Tuesday? Apple's new CEO, John Ternus, starts today, and he launches the iPhone Fold in eight days. To be as successful as Tim Cook, he needs to protect the P-word of privacy. For our second story, The Gap made three announcements this year that are all pegged to the year 1994. Feels like 94. The past is your innovation archive. Choose precisely. And our third and final story is BYD. It's officially in conquest mode. They're exporting more than they're selling in China. It's Carmageddon, and the China Shock 2.0 just might be the kick in the pants our economy needs.

21:31But besties, this pod's not over yet. Here's what else you need to know today. First, last weekend, Coyote vs. Acme premiered, and basically, it's a Wile E. Coyote biopic. That's a profit puppy. This movie was actually completed three years ago, but its former owner, Warner Brothers, squashed it. Literally. Jack, most brutal corporate move in Hollywood history. They killed a finished movie for a tax write-off. But that Looney Tunes film just got bought by a tiny studio, and it had a great first weekend at the box office. That's all, folks. And second, big headlines in advertising. First, OpenAI hit a$1 billion annualized revenue rate.

22:07Not too shabby. That's only in advertising. They're boasting a diversified business as they prep for their IPO expected this fall. On the other end of the spectrum, Amazon, they got sued by the FTC in 22 states for advertising. They allegedly overcharged 1.2 million advertisers out of$20 billion. And finally, the biggest shareholder in GoPro cameras is now a YouTuber. It's Markiplier, the YouTube director. Markiplier is one of the YouTubers who made Bank at the box office this year with a movie, in his case, Iron Long. And he believes GoPros can revolutionize the entire movie-making industry and save Hollywood.

22:41GoPro stock rose 20 % on the news. Proof that a YouTube influencer can become a stock market finfluencer. Now time for the best fact yet. This one sent in by Garrison Nifong, a legendary Yeti living in Sydney, Australia. Push and play. Hey, Nick and Jack. Thanks for the part about the mortgage mass. It's often the largest financial decision people make in their lives. Or, should we say, until they die. Because death is in the word itself. Mortgage stems from the old French. Mort for death and gage for pledge. So mortgage was the death pledge. Supposedly means the pledge dies when the loan is repaid, but I'll leave that for the other yetis to interpret.

23:23Yeah, so yetis, if you manage to pay off your mortgage, you have evaded death. Yeah, which is impressive because applying for a mortgage feels like they're slowly killing you. Yetis, you look fantastic today. Jack, you are glowing over there. What do we think the Yetis should do? Should we buy some tickets for our live show, man? Dude, I'm still laughing at that mortgage application. Yes, you should buy tickets to our live show. We'll be in San Francisco September 23rd. We got links in the episode description to go to tboypod.com. And remember, if someone asks you for a fun fact today, Just tell him that the best investment in Wall Street is Samuel L.

24:00Jackson's beautiful shiny head. Balding. So hot right now. If you know, oh, you know.

24:10And before we go, a happy birthday to Matt Baer, turning 32 years old and celebrating for a third year in a row at the Minnesota State Fair with a bucket of Martha's cookies. Happy birthday to Ruben Escalero in San Francisco, who loves listening to the show every morning. And Gary P., we see you partying it up across the East Village. Happy birthday. Happy birthday to Richard Hu in New York City. And belated to Josh Rodriguez down in Tampa. Happy B-Day. Happy birthday to Matt Smalley in Plainsville, Ohio. And Adam Kaiser in Highland Park, Illinois. Did you get the slate truck yet? We're hoping you did.

24:38And happy birthday to Paxton Love in Charlotte, North Carolina. Paxton is turning three. And Reem and Sean, happy anniversary from Queens and Staten Island, the mightiest of the boroughs. And happy birthday to Lyft, which turns 14 years old today. Fun fact, Lyft is still worth one Lyft. And to anyone else celebrating something today, Nick at a T-book. Celebrate the wins.

25:02This is Jack. I own stock of Ford, Amazon, and Lyft. And Nick and I both own stock in Apple.

25:12Gusto. Yetis, there's nothing more satisfying on a Friday evening than celebrating the wins of our company from that week. Like how we triumphantly completed payroll paperwork right before the tax deadline. You're just kidding. That's not a win to celebrate. But it is an annoying thing that we did have to do. Yeah, we did. Because if you're an entrepreneur, you're the HR team, the benefits team, the payroll department, and you have to be all those things before your morning coffee. Double digit latte. But you could be doing it all with Gusto. Gusto is an online payroll and benefits software built for small businesses.

25:40It's all in one, remote, friendly, and incredibly easy to use, so you can pay higher onboard and support your team from anywhere. So save time with built-in automated tools like offer letters, onboarding documents, direct deposit, and more. And it's super simple to switch to Gusto. You can just transfer your existing data to get up and running fast and don't even have to pay a penny until you run your first payroll. Because you're not toasting a Negroni on Friday to celebrate that paperwork. Nope. So besties, try Gusto today at gusto.com slash tboy and get three months free when you run your first payroll.

26:06That's three months of free payroll at gusto.com slash tboy. One more time, gusto.com slash tboy.