✈️ “Living Inheritance” — Multigenerational vacations. The Oscars’ YouTubification. Santa Claus’ $11T biz. +Connecticut’s Hallmark boom.

0:28This is Nick. episode. Monday after that, a surprise, surprise, because Nick and I were on TV and we're putting that interview right here for you. Do you want to share the channel? Do you want to share the channel? CNN. And then the first Monday in January, we've got our famous predictions pod, our three business wishes for the new year. And we're also picking our two stocks at the year, or as Nick calls them, our stock market resolutions. So we'll circle back on all that in 2026. But in the meantime, Jack, we got three fantastic stories for today's T-Boy. What do we story. And the Oscar goes to YouTube.

1:03YouTube! YouTube has taken the TV rights for the Oscars because the biggest battle in business right now is your living room TV. For our second story, boomers are spending your inheritance on your vacation. The wildest vacation trend of the year is multi-generational travel. Grandparents, parents, and kids, they're all on one big trip. And our third and final story, it's an annual T-Boy tradition. We're breaking down the business of Santa Claus. Get this, Claus Industries is actually an$11 trillion company. But yet is before we hit that wonderful mix of stories. Whoa, what a mix of stories to end the year on, Jack?

1:38Best mix of the year, I gotta say. Trivia. Yes. What is the number one state where Hallmark movies are filmed? Hint, it ain't Hollywood, it ain't New York, and it ain't La La Landy. There is a check. It's Connecticut. It turns out Connecticut is the capital of Christmas movies. Connecticut is the filming location for 22 holiday flicks, according to the Connecticut Tourism Office. Hallmark, Netflix, and Lifetime have filled 22 different Christmas movies in the nutmeg state. Or is it the Constitution State? I think it's both, actually. It's the pop-collar state. Yeti's, in fact, there's even now a trail across the state of Connecticut to see all 22 film sets.

2:13The 300-mile Hallmark movie trail of Connecticut. It's a bit of a stretch, Connecticut Tourism Office, but we'll round up on this one. From Waterbury to Danbury, Hartford to West Hartford, New Canaan to Old Canaan. Mrs. Claus and her film and crew, Jack, they're going to need a second home down in Greenwich. Who said Connecticut only produces iBankers, Lax players, and cable knit sweaters? Because Connecticut's GDP is Hallmark's movie box office, baby. By the way, the most famous of those 22 movies? Yeah, Jack? Not really famous at all, unfortunately. We see you, Mystic Christmas. Yeah. We see you.

2:45Two thumbs up, Jack. Let's hear three stories. 15 years before this song, two boys from the Northeast met in the dorm. They 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.

3:12Start the show. First, a quick word from our sponsor.

3:23Monarch. All right, yetis. One lobster roll, no joke, 50 bucks on Nantucket. And why is that a problem, Jack? Because we're going to Nantucket this summer on a joint family T-boy trip. It's a write-off. It is expensive, but we will travel with peace of mind because our finances are organized in Monarch, despite the lobster rolls. Monarch is the personal finance app that tracks everything. Accounts, investments, savings goals, and spending. Get your first year of Monarch Core for half off, just$50 with promo code TBOY. Monarch shows visually how much you're spending this month compared to the average month, which is really useful.

3:55So like, honestly, this month, been a doozy jack. Booked a lot of travel, but I know the future months won't be as bad after lobster roll season. You know because Monarch showed you. Last year, you had a spike in May for travel bookings, but a dip in the summer because the travel was already paid for. You can even ask Monarch's AI assistant anything about your finances. Like, what are the key changes in my spending so far this year compared to last year? And how much was spent on lobster rolls last summer? Use code TBY at Monarch.com to get your first year of Monarch Core at half off. Just$50.

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5:05For our first story, everything is becoming TV. Netflix, YouTube, Instagram, Barstool Sports, podcasts, they all announced TV deals just this week. Cable is dying. iPhones are more alive than ever. But the living room TV is more powerful than them all. Oh, Yetis, what two-letter abbreviation is buzzier these days? What do you think, Jack? Is it AI or is it TV? Might be TV. It might be TV. Because here's the news. Instagram is launching a Reels app for televisions, TikTok-style vertical videos on the big horizontal screen. You can watch Jack's 42-step get ready with me on a TV these days instead of your phone.

5:44Now, the Instagram TV app is only available on Amazon Fire TV right now, but soon it will come to Apple TV, Roku, and all the other smart TVs. And since it's Marky Mark Zuckerberg behind this, we know Zuck's playbook. He's going to order the team to copy and paste YouTube's TV app. Basically, he's going to Zuck YouTube. Speaking of YouTube, Jack, our buddies over at YouTube just got the TV rights to the Oscars starting in 2029. After 50 years of being on ABC, the Academy Awards will be free to watch on YouTube for the whole world in just a couple years. And the Oscar goes to, well, it goes to YouTube actually in this case.

6:22But Nick, that's not it with TV headlines. Pinterest acquired a TV tech company this week, and LG signed a deal with Microsoft to bring AI to your television. Besties add it all up, and despite the slow death of cable, TV is getting more action than that scene in Heated Rivalry. Than every scene in Heated Rivalry, apparently. iPhones get all the attention, but the most valuable real estate in business right now is your living room TV. But an even bigger TV shift is happening, and it's close to home. Yeah. Because it's happening in podcasts. Get this, Barstool Sports and iHeartMedia are joining Netflix for TV.

6:58Now, you might not realize this, Yetis, but YouTube is both the number one podcast platform in the country and the number one TV platform. Get this, 12 % of all time spent on America's televisions is spent watching YouTube videos. And 33 % of podcast listeners say that YouTube is their preferred platform. In fact, we just hired a guy to help us win on YouTube. We just hired a dude who just does YouTube. So add it all up, YouTube is number one in television, number one in podcasts. You know who hates that? Who hates it, Jack? Netflix. That's right, which is why Netflix just got three top Barstool podcasts to close their YouTubes and bring their videos exclusively to Netflix next year.

7:38You can still listen to the audio of these Barstool shows anywhere, but video you can only watch on Netflix, not on YouTube, starting next year. Plus, Netflix is doing the same thing with 16 Spotify pods and 14 iHeartRadio pods. They're promoting them to the living room TV. YouTube and Netflix, they're the Goliath and Goliath of the media industry right now. And they're fighting, ironically, for the David Chang podcast. So Jack, what's the takeaway for our buddies staring at the living room TV? Why is everything becoming TV? Because to quote a famous bank robber, that's where the money is. Yeah, it's like, that's where the money is.

8:18You see, Yetis, with the rise of smartphones, it looked like the big screen TV was going to go in the dump someday. After all, the typical American now spends five hours a day on their phone. Like you are right now listening to us. But the rise of smart TVs, which have the same apps as phones have, actually saved the living room TV. And because of advertising, there's simply more money to be made on a big TV screen than a small mobile one. According to IAB, advertising on smart TVs and streaming networks are growing faster than advertising on social media. Yeah, big horizontal living room screens are where madmen and legacy ad agencies learn to sell in the first place.

8:54Phones get the performance ads, the ones with promo codes. Use T-Boy for 20 % off. But TV screens still get the prestige ads, the highly produced ones. Ah, Jack, the ones with the Jeeps driving over the boulders. Exactly. So why is everything becoming TV? Because that's still where the money is. That's where the money is. For our second story, the hottest travel trend right now is being paid for by grandparents. Multi-generational travel reveals a new money concept that we call the living inheritance. Yeti's odds are, statistically speaking, there is a decent chance you are packing your bags this weekend to travel somewhere for the holidays.

9:38The travel industry is living its best life right now. It's looking good out there. Post-pandemic, people are still paying a premium to go to Paris. In hospitality, the U.S. has defied a drop-off in foreign tourists and defied a job slump of white-collar workers. Despite the scare of AI, you're still flying to BVI. And the average daily room rain in the United States luxury hotels right now, what is it, Jack? A record-high$398. Yeah, to sprinkle on some context, that is 22 sweet green salads for one night at a hotel. Down in New York City, the Montage, the Amman, these ultra-luxury hotels, their average room rate is$1 ,500 right now.

10:16At these prices, the Four Seasons is adding a fifth season. Or at least they should. Yeah, they should. But the surprise is who's paying for the current travel boom that's sweeping America right now? It's your Nana. It's your grandparents. Besties, forget dinkations and bachelorette trips. The cornerstone of the hospitality industry right now is multi-generational. Grandparents, parents, and the kids. A whole century of bloodline all in the same cruise line. And Jack and I call this trend the cousins' vacations. Full disclosure, four years in a row, from my ninth birthday to like my 13th, my Nana paid from all three of my brothers and me, plus my cousins, plus my parents and my aunt and uncle to all go to the Caribbean together.

10:59We're still trying to figure out where Jack's Nana's getting all this dough from, exactly. Is she in Vegas these days? How's she doing? Well, let me just say, no pressure, Mom and Maria. But if you're listening, you got to follow Nana's track record here. Apparently Nana bought Nvidia at$2. But Yetis, get this. 57 % of parents are planning to do a trip this year with grandparents and their own kids. Just like I had when I was a kid. And that's up by two percentage points from two years ago. Oh, you want more evidence? Extended family vacations, which is Travel Weekly's term for cousins vacations, are up seven percentage points from just two years ago to an all-time high.

11:36Now, one reason 57 % of us parents are planning to take a multi-generational trip this year is the proliferation of Airbnb and VRBO. They just make group travel easier when you can get the whole house. But cousins vacations are a big profit puppy for hotels too. That's right, because according to the Wall Street Journal, you don't just want the two-bedroom suite on a cousins vacation. You'll want the villa, you'll want the yacht. You and your husband get a king room, the kids get a double queen room, and the parents get the penthouse because they're paying for it all. Yeah, and your sister-in-law definitely needs some space these days.

12:08The bigger the room block, the lower the argument risk, Nick. Exactly. But Jack, really to sprinkle on more context, where have we seen this cousin's vacation concept before? In 1990. Yeah. The McAllister family. The whole plot of Home Alone 1 is a cousin's vacation. Except today, grandpa's renting the estate for 12 of you over in Tuscany, and no one gets left behind. Come on! Oh, by the way, the plot of White Lotus Season 4? probably going to have a multi-generational subplot. I don't know about that. It tends to be a no kids affair at this thing. It's a profit puppy. So Jack, what's the takeaway for our buddies over in the multi-generational cousin's vacation?

12:45Our new favorite financial term is the living inheritance. Yeti, the key detail here, who's paying the hotel tab? Because typically it's the grandparents. Grandparents have likely accumulated a life worth of assets. The car, the house, the watch. And now they're cashing in on experiences. Typically, they would give away that inheritance after death in the form of stocks, bonds, and real estate. But instead, more and more grandparents are giving away their money earlier to their family in the form of experiential bonding, basically paid vacations. Exactly. And now, besties, we've talked about the silver tsunami before, the record handover of wealth from boomers that is coming.

13:24Well, a new alternative to that money tsunami is the multi-generational vacation. It's an opportunity for families to build bonds that leave a legacy that outlasts their money. And it lets us millennials enjoy our parents' wealth while we're still young. And the whole family gets to, you know, enjoy core memories in the Caribbean. Thank you, Nana. Jack's not going on a podium here, but it's not a bad idea. I think it's a brilliant idea. If you're old and have money, spend it on your kids right now. But Yetis, let us know what you think of the cousins' vacations trends. We're about to go to an ad break, so drop your thoughts in the comments.

13:57Now, a quick word from our sponsor.

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14:58Netsuite.com slash tboy. Bureau Premium Non-Alcoholic Beer. All right, yeti, it's a little behind the scenes here. Before our New York City live show back in April, Jack and I went sober for two weeks. True story. Couldn't risk getting sick. I didn't want to be groggy. I couldn't afford a hangover. It was New York, baby. Okay, but Jack, celebrating the wins is what we do. And so for our live shows, we crack open something special. So we drank Biro, the premium non-alcoholic beer brand co-founded by Tom Holland. Yeah, I actually first saw it at my grocery store. Delicious tastes like a celebration, feels fantastic, and looks legit.

15:34More on the looks in a sec. And if it's good enough for the actor who played Spider-Man, it's good enough for us. You see, it pairs well with a pickleball game, a profitable earnings report, or with the best podcast. So Yetis, if you want to celebrate the wins with all the taste of a premium lager or IPA, but none of the alcohol. There's no better choice than Bureau. Okay, pause the pod. Did we mention the can is straight up gold? This thing will stand out at every one of your next parties. Trust us, we've done it. Only beer we know that actually upgrades the scene like a promotion. So Basties, if there's a win you're celebrating every day, Bureau is the non-alcoholic brew brand you gotta bring.

16:09So use code T-Boy for 20 % off your first order at BureauBrewing.com. Yetis, welcome back. Our final story, it's a T-boy annual tradition. Our analysis of the business of Santa Claus. It was a hard year for St. Nick. He had to deal with toy tariffs and trade wars and customs and border control. But you know what? He came out on top. So let's hit it. All right, Yetis, for our third and final story today, we're actually going to do something special, a little tradition, if you will. Last year, we did a deep dive on Santa's business. And you guys loved it so much. We were like, we got to do this again.

16:46It was our favorite story. It was the last story of last year. So it's going to be the last story of this year. Annual tradition, baby. Let's hit it, Jack. For our third and final story. With the holidays coming up, Jack and I are looking at the business of Santa Claus. Or as he calls it, Claus Industries. When your competitive advantage is magic, you have a monopoly. Yetis, it was two weeks before Christmas and all through the condo. All the T-boys were stirring. even the Ford Bronco. So Jack and I are jumping in T-boy style to the big man in reds business model. We're jumping in T-boy style to Santa Inc.

17:23Or as it's registered legally in Wilmington, Delaware, Claws Industries. Right, Jack? What did we learn about Claws Industries? It's a highly seasonal business. All their sales happen on one day every year. Santa's business is like Spirit Halloween or the turkey industry. Right, Jack? But its sales are even more concentrated on December 25th only. That's the only day they're open for business. Now, Yetis, Jack and I, by complete chance, fortunately got the annual report from Claws Industries. Ticker symbol nice. It's traded on the North Pole Stock Exchange. And here is the key competitive advantage to Santa Claus's very own international business.

18:03It's the supply chain. Santa's supply chain is more important than any other company we've ever covered. And this supply chain happens to also be highly concentrated. It's based exactly at the North Pole. Yeah, they have a massive workforce of elves who build toys in one giant, wonderful factory. Now, we should point out that Father Christmas has never shared sales figures publicly, but Jack and I whipped out the whiteboard for this one. Yeah, we calculated the sales, the annual revenues of Claus Industries. It turns out, Yetis, that 36 countries do not observe Christmas as a public holiday. But Santa doesn't check passports, so we're going to assume he delivers to all children worldwide.

18:40So Jack, if that's the case, then what's the market size for Santa's business? Well, 25 % of the world's population is under 14 years old. That would be 2 billion customers. And we'll assume that Santa delivers one gift to each child worldwide. But Jack, we do have to adjust for the naughty factor, don't we? But the data shows that those numbers are negligible. Yeah, it turns out the naughty factor is actually very negligible. So Yetis, if each gift costs$10 for 2 billion children worldwide, Then that would be$20 billion in sales for Claws Industries all in one day. Now, we should point out, Santa waives the price with a 100 % discount, bringing down revenue substantially for Claws Industries.

19:20It's basically a buy one, get that same one free policy, Jack. Yeah, and there's also a labor risk this company faces. Right, like Jack, what if the elves go on strike? Like, that's kind of a problem, right? I think they're relatively content, though. Besties, Jack and I checked with the Elf Union spokesperson, and apparently they're paid a living wage of gumdrops and candy canes. And all the syrup they want. And they get 360 days of vacation. Oh, by the way, this year, don't leave cookies for Santa. Yeah, Santa's on Ozepic, so he's only drinking skim milk this year. Maybe some mule milk. So, Jack, what's the takeaway for all our buddies who won't stock in Claws Industries?

19:59If Santa could scale his magic, he'd be 11 times bigger than Walmart. All right, Yetis, follow us on the numbers here. $20 billion of sales in one day. Jack, can we extrapolate Santa's revenues for the entire year? If Christmas were every day, which was my dream every night as a child. It was my dream. I'll take it. Let's run with it, Jack. Then Claws Industries would generate$7 trillion of revenue each year. $7 trillion in revenue, Jack. Could you sprinkle on some context for us, please, over there? That's 11 times Walmart's annual revenue. Yeti's assuming Claws, the toy company, makes the same profit margins as Hasbro, the toy company.

20:37Then they'd make$511 billion in profits every year. Sit down, stand up, and sit on our lap again, Yeti's. That is five times as much profit as Apple. There you have it. If Santa could scale magic, Claws Industries would be 11 Walmarts in size. And Santa would be five times as profitable as Apple. Now, at the very least, Santa, can you launch a second Christmas in July? I mean, if Amazon Prime can do it, so can Claws Industries. Not even good King Wenceslas could complain about that. And that is the annual report on Claws Industries. St. Nick LLC, a registered certified B Corporation. Gifts limited to nice children.

21:19Gift policy does not apply to children naughty for more than 183 days a year. No reindeer were harmed in the making of this podcast.

21:30Jack, could you whip up the takeaways for us for the new Friday? YouTube won the Oscars. Congrats! Because every tech and media company is pivoting from your phone to your living room TV. Why is everything becoming TV? To court that bank robber. Because that's where the money is. For our second story, it's the cousin's vacation. 57 % of parents plan multi-generational trips this coming year. Grandparents, parents, and kids. Treating your kids to vacation with the whole fam? That's called the living inheritance. And our third and final story is Claws Industries. They could do$11 trillion this year in revenue in one night.

22:06With a T. With a T. But instead, they did zero in revenue. And a partridge in a pear tree. But besties, this pod's not over yet. Here's what else you need to know today. First update on Netflix. Warner Brothers board formally rejected Paramount's acquisition offer of the company. Warner Brothers doesn't believe that Larry Ellison has the money to pay for his son's big acquisition splurge. And they don't believe Ellison's connections to Trump will help get the deal approved. They think Netflix's deal is better, but it's actually not the board's decision to make, is it, Nick? It's Warner Brothers shareholders who will vote to decide whether they sell to Netflix or sell to Paramount.

22:44Second, venture capital is giving out gifts right before the holidays. Epic fundraisers, actually. Well, the first is Waymo, who's in talks to raise 15 billion bucks for the robo-taxi business. And the second is OpenAI, which is in talks with Amazon to raise$10 billion at a 500 billion valuation. It's the slowest time of the year for deals because all the VCs are already skiing in St. Moritz, but already potentially two of the biggest deals of the year. And finally, to everyone going to a Ralph Lauren-themed Christmas party this weekend, we see you. It's hard not to miss you because Ralph Lauren is the official apparel company of the Winter Olympics and the unofficial apparel company of your Christmas morning now.

23:23Pinterest searches for Ralph Lauren Christmas wrapping are up 1 ,300 % this year. For Ralph Lauren Christmas tree, searches are up 3 ,000%. And Ralph Lauren Christmas table are up 4 ,000%. Ralph Lauren stocks at an all-time high and so are the Garland vibes. You going to wear that red ribbon to your holiday party, Jack? With a green sweater. Yes, I am. Good move, Alex. Now time for the best fact yet. This one set in by legendary Yeti, John Dutton from lovely Yellowstone, Montana. Trivia, Nick. What's the biggest month of the year for consuming steak? Oh, hey, what is it? What is it, Jack? December.

23:56December. Get this. Omaha Steaks sells a steak every 2.7 seconds this month. That's faster than a cowboy can eat a hamburger. Okay. In fact, Omaha Steaks does 45 % of their beef sales business between Thanksgiving and New Year's Eve. Holiday parties, celebratory dinners, going out with a filet mignon. Yeah, basically steaks are a write-off right now. So like beef prices are at all-time highs, but apparently so is demand for beef. I remember the Who's in Whoville, they had roast beast for their Christmas feast. Yes, Jack. I think that beast was beef. Beef indeed, beef indeed. A roast beast meal for all in need.

24:34Yetis, you look fantastic out there Jack, as we are getting into the final days of the Dreidel Rally Can you tell us what is the schedule for the T-Boy holiday? What do we got on the docket? Well, rule number one of the Dreidel Rally is don't mention the Dreidel Rally I forgot, I forgot, I forgot Tomorrow, we have the full episode with the co-founders of the Savannah Bananas That's great On the Monday after that, before Christmas We have our Year in Review 2025 episode Fantastic And the Monday after that, our guest interview on CNN talking about 2026. And then Jack, to kick off the new year, our best pod of 2026, what do we got?

25:09Our three big business wishes, which includes our stock resolutions. So Yeti's HYH-TBOY this holiday season. And Nick and I will see you tomorrow. If you know. You know.

25:23And before we go, a happy birthday to Yeti Felix Delgado over in Warwick, New York. everyday listener, and the best one yet. Happy birthday to Sebastian Olmo in Mokona, Illinois, doing logistics. And Dana Allen down in Rockville Center, Long Island, has got a new job in finance and the best birthday yet. Happy 56th birthday to Chris Jones in Bixby, Oklahoma, a proud father of four. And Nick Copperud down in Chicago, Illinois, is doing logistics for the big birthday bash. Happy birthday to Kyan Kalyanker, who's turning 11 in Cary, North Carolina. And Valerie Sang, also in Cary North. Carolina has got a fantastic birthday on the docket.

26:02Happy birthday to Whitney in San Antonio, Texas. And a happy ninth birthday to Yeti Ria Rothy in fantastic Ann Arbor, Michigan. And a big shout out to Nick and Alexa Marino in San Francisco, who just had a new baby boy, CJ. Little Max already teaching little CJ how to cross check. Congratulations to Erica Warner in Ann Arbor, Michigan, who finished her first semester of law school, Go Blue. And Leah Dory also just finished a law school semester over in Boulder. Congratulations to Michelle Ahn, who got into the MBA program at Wharton. She's from Seoul, South Korea, and is soon going to be a fellow alum of Nick's.

26:36Michelle, you're going to have a blast. And Lean Al Ismael, down in Katy, Texas, just graduated from the College of Fashion Merchandising. I'm going to see her on The Room One. This is Jack. I own stock of Netflix. Nick and I both own stock of Apple and Spotify. This is Ayo Akinwaleh from the Athletic FC podcast. Buying a car should be exciting, not exhausting. And if you're looking for a gleaming SUV to replace your old banger, or you're taking the plunge and going electric, the good news is you can buy your car completely online on Autotrader. Really. Just go to autotrader.com and get picky.

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