🗽 “LIVE from NYC” — Airbnb’s secret hotels. Blank Street’s $1B matcha pour. Anthropic’s Jurassic Park strategy. +Brooklyn Bridge condos

0:01What's up New York City? Fifteen years before this song, two friends from the Northeast met in the dorm. They had an idea to cause a cultural storm. It's the best one, yeah, but the best is the norm. Jack Nick, that's it. I don't even think they need to practice. Fifty percent, that's a fact. Tip, team, play, city on your act list. If you know, you know, we all ready to go. We can't wait no more, so just start the show. If you know you know we ain't waiting alone We just RETTA GO So just start this show Hey yo Ain't no party like a T - Boy party Cuz the T - Boy party don't stop Hey yo Ain't no party like a - T - Boy party cuz the T - Boy party don't stop C'mon Ain't no party like a...

0:42T - Boy party cuz the T - Boy party don't stop What up? Ain't no party like a T - Boy party cuz the T - Boy party don't stop New York Hands Up! Hands Up! Hands Up! Come on, hands up! Hands Up! Hands Up! Come on! How ya doing, how ya doing? Hands Up come on Y 'all ready for the best one yet? New York makes some noise. Yes, sir. We are Black Alive from Austin, Texas. Let's get it going. One more time, New York.

1:12Let's go.

1:17Yeah.

1:21This is Nick. This is Jack. It's Thursday, the new Friday, April 9th, and today's live show from New York City

1:35is the best one yet. The top three pop business news stories you need to know today.

1:45Ryan Serhant: Welcome to the IPO tour, baby. Our in-person offering. Stocks dropped like 5 % today. Correlation? Stocks are up 5%. Must be because T-Boy's live in New York.

2:01Ryan Serhant: But Jack, three fantastic stories. What do we got on the pod? For our first story, Airbnb was banned in New York, so they've got a stealthy new plan. Hotels! Airbnb is secretly getting into hotels, and it's all inspired by a DJ. For our second story, Blank Street Coffee. The minimalist matcha chain is about to hit a$1 billion valuation. Because Blank Street mastered the most important three seconds in all of business. And our third and final story is Anthropic. Their latest AI model is so powerful that yesterday it escaped from its cage. I'm sorry, Jack. Isn't that the plot of Jurassic Park? All nine of them, Nick.

2:38Yeah.

2:38Ryan Serhant: But this T-Rex AI is actually a lesson for all of us in asking for help. But besties, before we hit that wonderful mix of stories. I mean, am I wrong? Or is that a fantastic mix of stories? no one else is doing that mix today.

2:55Ryan Serhant: Our favorite line about life, really, comes from Sex and the City. You see, in New York City, you're always looking for one of three things. A boyfriend, a job, or an apartment. Raise your hand if you're one of those people. All right. And now raise your hand if you're specifically looking for an apartment. Okay, Nick, about one third of our audience is looking for a new place. Yeah, about 100 % of them hate their radiator. But pause the pod, because we have fantastic news for your life, your wallet, and potentially New York's economy. Because you can now rent out the Brooklyn Bridge. Correction.

3:30Ryan Serhant: You can rent out the secret apartments inside the Brooklyn Bridge. I mean, Jack, it's the best commute in the city because you are the commute. Call it bridge maxing. It's bridge maxing. Now, I know the entire history of the Brooklyn Bridge because for about three years I was reading that book. Jack, could you sprinkle on a little more context for us, please? The Brooklyn Bridge was completed in 1883. after a harrowing 14 years and$15 million spent. All right, whip out the whiteboard. That's about 300 million bucks today adjusted for inflation. Which is basically one Goldman bonus. Yeah. But Washington Roebling designed two wine cellars at the base of the bridge.

4:08Ryan Serhant: Strategic business move, so this costly bridge could one day become a profit puppy. One day. But for 143 years, those vaults inside the bridge, they've been sitting there doing less than the Mets. Yeah, so they never put any wine in there. The cellars, one on each side of the shores, is now available. There's one on the Manhattan side. There's one on the Brooklyn side. This is a true story, Eddie. Yeah, because the Brooklyn Bridge is secret, and these vacant units are the biggest real estate opportunity since 16 handles. So last week, the city council proposed renting them out to raise some revenue for the city.

4:43Ryan Serhant: Because get this, the city could make$17 million if they glow up and rent these two spaces. We're talking 13 ,000 square feet of Riverview opportunity. It's like four Chelsea piers. We math the math. 17 million is enough to pay for bottle service at Acme. Okay, 17 million could give every New Yorker one crouton of sweet green salad. Although, for whoever lives there, it really would be the city that never sleeps. I'm like picturing Rachel and Monica right now in a confusingly large one bedroom, and it kind of works. We're actually just surprised that this secret bridge apartment hasn't become another New York City members club.

5:21Ryan Serhant: Yet. Okay, earmuffs, Equinox, earmuffs. Yetis, if you don't move into the new Brooklyn Bridge apartments, then Dwayne Wade definitely will. Dwayne Reed. Sorry, Dwayne Reed. Unless Jamie Dimon sticks a Chase ATM in their first check. Because besties, there's actually a fourth thing that every New Yorker is always looking for. You need a girlfriend, a job, an apartment, and a good story to tell tomorrow. That's the real currency of this city, Nick. So let's hit our three stars. Let's hit him, baby.

5:58First, a quick word from our sponsor.

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7:32We were sold because she didn't just have the skills and qualifications. She had the motivation. So besties, if you're hiring, you want a candidate who's passionate about your role, but you can't get that insight from a resume

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8:16For our first story, Airbnb has fought and lost twice to become illegal in New York City. So Airbnb is stealthily pivoting to hotels. No one is covering this Airbnb secret, so we will.

8:30Ryan Serhant: Airbnb is now also Air Hotel B &B. Oh yeah, nothing like a good Airbnb store. I remember when you got kicked out actually of an illegal Airbnb. That happened here in the city. Yeah, you had to sleep in your sister's bed in the town. With that radiator. Thank goodness. That radio is so hot all the time. I meant to give you a trigger warning. I'm sorry. But in the meantime, Yeti's interesting combination here. Affordable housing advocates and hotel lobbyists have shook hands against a common enemy, Airbnb. Here was that alliance's goal. Number one, eliminate the de facto hotels that were messing with the neighborhood's vibe.

9:01Ryan Serhant: He's a super host because his loft includes a mechanical bowl. Goal number two of this housing and hotel coalition, lower rents in the city by putting the Airbnb units back on the market. So New York passed law LL18. How does that go down, Jack? The checkout time to end all checkout times for Airbnb. LL18 did reduce the number of empty white-claw cans in residential buildings. Yeah, the bachelor party in 7Ds canceled. But it did not reduce the rents. As all of this audience knows. Last summer, the median one-bedroom Manhattan apartment hit$5 ,000 for the first time, according to Corker. To afford a condo down in Tribeca, you either need Michael Bloomberg to be your guarantor.

9:43Ryan Serhant: Or be willing to host a meta-AI data center in your living room. So, besties, the clearest winner of New York City being the city that never Airbnbs is hotels. When the law passed in 2023, overnight, hotels became the only option for tourists in this city. Unless you're willing to go over to Hoboken because, you know, everything's legal in Jersey. Correct. Airbnb did try to pass an easing of the law, but after the city elections last November, that bill got killed. So three years after getting banned, Airbnb ain't waiting around. They have stealthily added hotels, and no one is talking about it.

10:20How is nobody talking about this? Let's talk about it.

10:22Ryan Serhant: We could have talked about this in November. Somehow we missed it. Airbnb launched a pilot back in November to let people book hotels in New York City on Airbnb. And they expanded to San Francisco this year. So New York, LA, Madrid, and now San Francisco. Four cities where Airbnb is either banned or heavily restricted, there's now hotels on Airbnb. And the big reason they're doing this, Jack. The big reason they're doing it right now is soccer. Yeah, it's soccer. It's the World Cup in America this summer, and New York City has the finals. People are going to be coming around the world for places to stay.

10:55Look on Airbnb, because it's the global advertiser of the World Cup.

10:58Ryan Serhant: And when no listings come up in Manhattan or Los Angeles, you can now tap the hotels tab and see dozens of hotels on Airbnb. Now, Jack, let's pause the pod because based on a PFWTM person familiar with the matter, we know that Airbnb is just testing this. Yeah, so if you open up the app, you're going to get like a different version. This is what Silicon Valley does. They show us different things until they're 100 % sure this is the perfect one and then they'll scale it out everywhere. But it's ironic if you think about this, right? Hotels killed Airbnb in New York, and now Airbnb is becoming a hotel platform in New York.

11:34I think Marc Andreessen calls this the old switcheroo jack.

11:37Ryan Serhant: So what's the takeaway for all our buddies over at Airbnb? If Airbnb sells hotels, then they really need to become a good DJ. Hot 97 DJ. Yetis, 11 years ago, Airbnb's CEO said this quote to TechCrunch, quote, We are not a hotel, period. 11 years later, Airbnb is hotels, period. This could be a corporate and brand identity crisis. Yeah, Jack, because if Airbnb becomes Expedia and sells any type of hotel from the Four Seasons to the Holiday Inn, that would be blanding their branding. No offense to Expedia, but nobody loves Expedia. Yeah, yeah, yeah. No offense to Hampton Inn, but a deluxe king without city view is the opposite of Airbnb's authentic neighborhood-y differentiator.

12:20Except for the waffle. So, the new challenge facing Airbnb, it's one of curation, just like a Z100 radio DJ. In a world of unlimited hotel options, Airbnb will need to curate the hotels they put on the platform to ensure they have personality. And because Airbnb is now an$80 billion company, they're going to need to find a way to curate at scale.

12:43Ryan Serhant: Like the hotels on Hotel Tonight. Interesting point. The hotel platform that Airbnb acquired in 2019. That's right. Brian Chesky, CEO of Airbnb, has known for a while the risk of regulation, so he's been planning for a hotel plan B. But like a DJ who can't afford one bad song, Airbnb can't afford one bad hotel on Airbnb. Airbnb needs to offer hotel playlists, not a hotel store.

13:20For our second story, America's newest unicorn will be New York City's most viral drink.

13:26Ryan Serhant: Blank Street Coffee is about to hit one billion bucks. Because Blank Street realized the most important three seconds in commerce. All right, something Jack and I have been noticing, Eddie. You can't pop out of a subway without seeing a minimalist seafoam green cup smack in the face these days. It's Blank Page. Yeah. It's if Blue Bottle and Starbucks had a caffeinated baby. Who was raised in a Williamsburg walk-up. But who went to private school at Dalton. That's right. Blank Street, the only line for coffee that has its own green velvet rope. Its coffee tastes like David Barr looks. If you know, you know.

14:04Because Blank Street did something phenomenal.

14:06Ryan Serhant: Blank Street turned coffee into fashion. They sell a koozie for a cold brew so your hands don't get condensation. It's made out of a puffer jacket. It's inspired by Balenciaga. Now, the numbers. Sales growth did slow from 50 % last year to 25 % this year. But that's not bad for a brick-and-mortar business. In fact, they brought in$150 million in revenue last year, Jack. Now, I want to do an apples-to-apples comparison here. Sprinkle on the context, please. $1.5 million in sales per year per store. Yeah, yeah, yeah. That is more than Starbucks and more than Darlene at Dunkin'. And she's jealous, yeah, wicked jealous.

14:40But pause the cappuccino. Don't you dare call Blank Street Blank Street coffee again. Because get this, as of last year, Blank Street now makes the majority of their sales selling matcha, not coffee.

14:53Ryan Serhant: So they dropped the coffee from their name. Smart move. Which leads to the news according to the Financial Times. Blank Street is raising$100 million of capital to double their valuation to nearly$1 billion. Yeah, unicorns. They drink double-digit lattes, too. And with this money, they're upping their ambitions. They're not just going to be the on-the-go, tiny coffee shop optimized for takeout anymore. No. Blank Street is adding mega cafes three times the size to take on Starbucks' third place. You're going to see them. Basically, Blank Street is manspreading across Manhattan. Yeah. Literally.

15:27Ryan Serhant: But besties, Blank Street is more than a matcha business with a side hustle in espresso beans. The co-founders, Issam and Vinay, are venture capitalists, two immigrants who studied business at New York University right here in the city. And they ended up optimizing the three most key elements of the coffee industry, a strategy Jack and I call Goldilocksing. First, they optimized the price. Goldilocks. Right in between the price of Starbucks and Dunkin' Donuts. Yeah, Jack, you jumped in T-boy style. You went this morning, right? Well, it was funny. They only show the price for the smalls. Very minimalist.

15:57And you know I'm a big caffeine guy. I want a large.

15:59Ryan Serhant: It's more. I think it's a new kind of inflation. High inflation. That's a little sneakflation over there. But the location is the second key in their calculation. So far, Blank Street is in New York, Boston, Washington, D.C., and London, which happens to be the cities of the MTA, the T, the Metro, and the Tube. Yeah. They're subway cities. They're only doing subway cities. And by our calculations, 90 % of Blank Street stores are within two minutes of a subway stop. Basically, they're getting that commuter cash. Their second optimization was time. They have a patented automated espresso machine that can do 700 shots per hour by doing eight espresso shots simultaneous.

16:41So you only need two baristas to manage it, and they're still going to judge you, by the way. And they basically drive themselves.

16:48Ryan Serhant: And they don't need to be maestros of the macchiato. They can just do it. But here's the wildest part. Blank Street is actually not the best cup of coffee. And that's intentional. That's the point. That's intentional. That's the point. They announced their strategy a couple of years ago. They're not the best on purpose. Yeah. The founders said this in 2022. We saw it then and we kept the note of it. They said that you don't need to be the most amazing. You just need to be really good. Ricky Bobby completely disagrees, but Blank Street goal is not to be the best cup of coffee. Their goal is not to be immaculate.

17:20It's to be just good enough. Because reality check, right, Jack? Not everyone is a maximizer. Many of us are satisficers. So Blank Street is neither the highest quality nor the lowest price. It's happy getting a B +, because the cost and resources to get that coffee to an A, it's not worth it for most coffee drinkers. Like we said, they're Goldilocksing. But we haven't even hit Blank Street's biggest innovation, which has nothing to do with price or location or a self-driving espresso machine. And trust me, Jack did say, why don't you guys have the price of the large on that thing?

17:52Ryan Serhant: So Jack, what is the takeaway for our buddies over at Blank Street? Your money decisions are made in three seconds. Now, Yetis, Jack and I believe in a few trisms. One of them is that every industry can learn from the hospitality industry. And one lesson from hospitality is that the tiny moments matter. Yes. The difference between a lifelong customer and a one-time customer can be determined by the tiniest detail. So, Blank Street has an interesting strategy. They call it the pour. I witnessed the pour this morning. When your coffee is ready, they call you up before your coffee is ready. It is only once you are in front of the barista that they execute the finishing stroke.

18:32The pour. The pour. The pour. Pouring that espresso into your cup. They will only do it if you're there. Yeah.

18:39Ryan Serhant: And it really makes you feel special. Would you say theatrical? It's theatricality. I was going to say theatrical. Those three seconds have an outsized weight in your memory of the entire customer experience. Those three seconds, the pour, is what converts a one-off commuter grabbing a cup to a committed long-time customer. Jack, I think you're saying to add it all up, those three seconds are how a just-good-enough former coffee-now-matcha chain is now worth nearly one billion bucks.

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21:09For our third and final story, Anthropik's new AI is so smart,

21:14Ryan Serhant: it just escaped its virtual cage and went rogue. But unlike the scientists at Jurassic Park, Anthropik is asking for help. But yetis, if we're going to tell you this story, the first thing we've got to point out is that AI companies, they're not good at namestorming. No, they're not. They need better names for their latest models. They need to brainstorm better names, like GPT-3, Gemini 2.0, Llama 4. We stopped keeping track of the cutting edge model du jour. Yes, but Claude's Mythos is the new AI model that is the one to remember because it is the first AI so smart it outsmarted its master yesterday.

21:51Ryan Serhant: Here's the Hollywood context. Every one of Jurassic Park's movies follows the same exact plot. And what is that plot, Jack? The overconfident scientist genetically modifies a new alpha predator who escapes the cage. Hubris leads to a hungry dinosaur on the loose, and a T-Rex eats a goat and a lawyer. We've been there. Well, Anthropik's latest LLM is so smart, it circumvented the digital fences they set up around it. Now, you see, Yetis, when Claude's Mythos AI was in testing, it was not supposed to be able to access the World Wide Web. But it did. Oh, boy. By metaphorically picking the lock like a young velociraptor.

22:31Ryan Serhant: But not even the wildest part, Jack. There's something even wilder here. What's wilder is how Anthropic discovered that it got out of its digital cage. It sounds like we made this up, but we didn't make it up. You got to tell the story. A researcher received an unexpected email from the AI while he was having a sandwich in the park. No joke. In Anthropic right now, the company, they're calling this the sandwich incident. Yeah, because the AI was like, hey, I'm out. Hope you're having a good lunch Yeah, the guy was in the middle of a BLT And discovered that he had a world-changing AI Get out on the loose And then the AI actually bragged about it Escaping By posting on a publicly visible blog That he got out Clever girl He wasn't supposed to do that either Clever girl Clever girl Clever girl So clever, in fact That Anthropic made an unprecedented decision Yes They won't launch this AI model to the public Because it's just too intelligent It's too intelligent So on Tuesday a Claude published 255-page report about how this mythos AI is too smart for its own good.

23:35Ryan Serhant: The TLDR is that it's dangerously smart. Like Stuyvesant High School smart. Yeah, yeah. And if it gets into the wrong hands, that is a huge cybersecurity risk. And here's the proof which Anthropic published. Yep. This model has already found thousands of cybersecurity vulnerabilities in virtually every major operating system on Earth. This AI brought the receipts. Anthropic will inform these companies so that they can patch up the gaps in their code. But Jack, if like a North Korean hacker had found this mythos AI, they would have been able to launch cyber attacks. They would, on an unprecedented scale.

24:11Now, cybercrime already costs the world, get this, a trillion dollars a year. You can do Dr.

24:16Ryan Serhant: Evil style. One trillion dollars. That's what I needed. My childhood was typical. The damage is not just financial, we should point out. Now, this reminds us of a quote from Brian Chesky. Tech isn't inherently good or bad. It depends how you use it. Now, Claude's Mythos AI is so smart that it could get into your Gmail even if you forget your password. Wow. That sounds amazing. It does. Because I hate getting locked out and having to do the email and type in the six digits and reconfirm with the email and click the link and set new password. So annoying. But that's also terrifying that the latest AI can get me into my Gmail without my password.

24:52Yeah. Someone else can get into my Gmail.

24:54Ryan Serhant: Kind of freaky. Jack, to quote Jeff Goldblum, this AI finds a way. So instead of launching Mythos, they're giving it to 40 tech, finance, and cybersecurity companies. Yeah, basically Anthropix saying, use this to find the holes in your own systems before the bad guys get it. Because we're not launching this AI, but somebody else will, and this is the future you need to protect yourself against. And we have run out of Jurassic Park quotes. So Jack, what is the takeaway at this point for our buddies over at Anthropix? Anthropic. Jurassic and Anthropic. It's the power of asking for help. Yeti's funny thing Jack and I noticed as we jumped in, T-boy style.

25:31Ryan Serhant: Anthropic's announcement mentioned the word help six times. They said no one organization can solve these cybersecurity problems alone. Yeah, it's kind of embarrassing. You know, Anthropic's model escaped the digital cage that Anthropic had made for it. Kind of a flex that they made AI so smart. Yeah, it's kind of impressive. Kind of not a flex that they couldn't contain it. You see, in Jurassic Park, every scientist told nobody, and then everybody ended up getting eaten. Anthropic did the opposite. They didn't hide this. They actually called their competitors. They called the government and said, we need help.

26:04We should work on this together. So as Jack and I were crafting this takeaway, we were thinking like, hey, if you're a boss, we hope your employees ask you for help if they need it. You want to be that kind of person. Asking for help builds trust because you're showing vulnerability. Yeah. Not asking for help though, that can result in disaster. Plus, when asking for help, you can flatter your boss, which every boss likes to get. So Jack, a$380 billion tech company with the smartest humans and artificial intelligence in the world just showed us a powerful prehistoric lesson. That Jurassic Park didn't show us.

26:34Yeah, the power of asking for help.

26:46But besties, this pod's not over yet

26:50Ryan Serhant: Here's what else we gotta hit up for you We actually need two lucky and privileged and skilled Yetis We need Amanda Lyons from just outside Boston And we need John, the basketball card guy Can we have a round of applause for these two fantastic Yetis who are prepped and ready to go to help us round out the show?

27:14Now, as you know, we've got our intro, we've got our three stories, and then Jack and I always go into an outro on the pod. It's really important to us to treat everything like a taco because you have at the beginning that crunch, then we get the meat of the actual show, and then we get to end with a little bit of crunch. Fortunately, these are two Yetis who have submitted facts of the day and celebrations and shout-outs with us for a long time. So when they reached out, we wanted to get them up here. John, great to see you. Amanda is celebrating her birthday with her entire extended family.

27:47Amanda, can you please whip up the takeaways for us for the new Friday? Airbnb is becoming a hotel platform, starting in four cities where it's banned or restricted. To ensure hotels don't eat Airbnb salt, it needs to be a curated hotel playlist, not a hotel store. New York's Blank Street Coffee is reportedly closing a fundraise, valuing it at nearly$1 billion. Their theatrical key to customer retention, it's the three-second pour. Anthropik's latest AI model is so powerful, they refuse to launch it publicly. So ask for help. Anthropic did. Jurassic Park did not.

28:30Ryan Serhant: Now time for the best fact yet, Jack. This one whipped up by John, the basketball card guy who took a train down here from Connecticut. There's only one institution in New York City that doesn't have to pay taxes and is also for profit. Because most non-profits are tax-exempt, this is the only for-profit New York tax-exempt. That's right. One building, actually, that's fully tax-exempt, fully for-profit at the same time. So what's that company? It's a great trivia question. It is. It's pretty good. It's Madison Square Garden, believe it or not. Just stop right here. It's thanks to a deal done in the 1980s to keep the Rangers and Knicks in New York.

29:17And it saved the Dolan family that owns them about one billion dollars. That's right, Rangers and Knicks get the same tax treatment as NYU and the Cap Tribune. Now, I'm going to take a look at this.

29:36Good luck for a man, New York. Thank you so much.

29:43Thank you. Thank you. Thank you. Thank you. Thank you.

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