🍋 “Poison Soda” — Sprite’s SNL trolling. Fox’s stock market election. Anthropic’s surprise earnings. +Vote stickers

0:00This is Nick. This is Jack. It's Tuesday, T-Boy. Tuesday, November 3rd. And today's pod is the best one yet. This is a T-Boy. The top three pop business news stories you need to know today. Checking the cows. Yeti's last day before a live show in Seattle, baby. Can I just say, it is so hard to get from Burlington, Vermont, to Seattle, Tacoma International Airport. Not shocked by that. You're sending me to Atlanta, Nick. What is going on? I think Lewis and Clark and their new family made that trip faster than you did. But Yeti, this is going to be the funnest event in Seattle since Tom Hanks met Meg Ryan.

0:33Spoiler, Jack. Spoiler. Besties, grab your tickets in this episode description or at tboypod.com. Oh, another spoiler. I'm not wearing a Mariners jacket. Yankee fan would never do that. I still remember 95. Ichiro, Jack, three fantastic stories for today's T-Boy. What have we got in the best show in biz? For our first story, we don't know who will win the midterm elections yet, but we already know the real winner. It's election ads. The spirit Halloween of advertising. Fox announced earnings yesterday, and it proves it. For our second story, Sprite got called poison on SNL. But they should lean in on it.

1:04All the way in. This is a marketing gift. Sprite, embrace the poison. And our third and final story is Anthropic. They just surprised Wall Street two weeks before their IPO with third quarter earnings. But Anthropik's first earnings report is actually affecting the Buffalo Bills. But yet is before we hit that wonderful mix of stories. Oh, what a mix of stories for T-Boy Tuesday. Love the mix, Jack. Today, 100 million Americans will get the same free gift. There is a hint. It costs a quarter of a cent. It's been around for 106 years. And its creator bought the company that made it for just$1. I mean, how is that for a story hook?

1:38We got to hear more, Jack. The I Voted sticker is America's smallest billboard with the biggest ROI. Ah, the magic of the I Voted sticker is that it makes the invisible visible. Nick and I jumped in T-boy style. We did. The first reference to an I Voted sticker, that'd be in the Miami Herald, 1950. The first city to give them away at scale for free, that would be Phoenix, Arizona, 1985. But the first to announce I Voted by sticking it to their shirt, it was actually one woman 106 years ago. Because the 1920 presidential election was the first time that women had the right to vote. 19th Amendment to the Constitution ratified three months before Election Day.

2:13So women flexed their newly voted-in right to vote with an I Voted ribbon. Ribbons, because the sticker tech was not invented yet. But the famous American flag I Voted sticker design... We know it. ...was designed in 1987 by a woman... ...who bought a failing sticker company for just one dollar. How's that for an expression of capitalism? And soon, her I Voted sticker design was selling 100 million stickers per election. And at three quarters of a cent per sticker, that's nearly$1 million in revenue on an I Voted sticker. But Jack, pause the pod, because today, I Voted stickers are becoming collectibles like Pokemon cards.

2:46Because did you know every state does their own version? A teenager designed Michigan's I Voted sticker last election with a werewolf on it. Maybe a wolverine, actually. It was free at the polls. It's now selling 40 bucks on eBay. So the I voted sticker, it's become the LeBooBoo doll accessory of democracy. Yes, it has. The only Americans who don't get an I voted sticker though? Hint, they're out of this world. Astronauts. Their local polling precinct makes an exception to accept their electronic ballots, but they can't send physical stickers to the International Space Station. So yet he's flaunt your I voted sticker today.

3:20Our astronauts would be jealous. The greatest ad in American history. The only question, who'll be the first date with the scratch and sniff I voted sticker? Is that maple syrup? Voted in New Hampshire. What? I knew I'd get that out of you. Jack, let's have three stories. How dare you. 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, because we ready to go.

3:57We can't wait no more, so just start the show.

4:03Start the show. First, a quick word from our sponsor.

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5:19The majority of toy making is done by part-timers, and we blame Will Ferrell for this elf misinformation. Puzzle cutting, Lego crafting, jacking the boxing, it's all seasonal elf roles. Hey Blitzen, give me that$10.99 and you're not getting paid. So we bet Santa uses ZipRecruiter, because hiring for specialized seasonal roles, ZipRecruiter is the best way to find qualified people who are genuinely excited about your role. If you need unique skills, experiences, or even special licenses this holiday season, you can find them on ZipRecruiter. Candidates can tell you in their own words why they're excited about your job.

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6:17Meet your match on ZipRecruiter. For our first story, political ads are wrecking your football game and saving cable TV. And one company is winning on it more than any other. Okay. Can I tell you tonight's lineup, Jack? We got, uh, we're going to watch Gordon Ramsay's Hell's Kitchen. You got Family Guy, Fear Factor, House of Fear, Fear Edition. Are you ready for that? Okay. You know, all those got sold by Fox. They're all owned by Disney now. 24. Is that gone too, Jack? Yes. The only thing left at Fox Corp is sports and news. That's it. Teenage me is done listening to this story now, Jack. Well, high school you shouldn't, Nick, because Fox's earnings were more political than ever, but with a side of bicycle kick.

6:59Because the 2026 World Cup ended in July, which was part of Fox's Q3. But so was election season. Now, the part of Fox's profits from cable TV fees, that rose 7 % last quarter. But the part of Fox's profits from 30-second ads on Fox News, Fox Business, and Fox Sports up 134 % last quarter. Think of Fox's Q3 earnings as Spotify wrapped, but for attack ads. But we ain't seen nothing yet, have we, Jack? No, because most political ads run in October and early November, which are going to boost Fox's next earnings report even more. Yetis, think of political ads like the spirit Halloween of advertising.

7:37They show up in the fall, they fill up a bunch of empty space, and then disappear the first week of November. But Nick, NFL fans of swing state teams, they got 30-second portions of rage bait every TV timeout this year. Honey, can you change the channel on one set? So-and-so's candidate eats ribs medium well with a fork and a knife. What's next for Texas? So-and-so's candidate said Michigan looks like a glove, not a mitten. They're no Michigander. Yet he's Fox gets half of the Sunday NFL afternoon games. and Fox gets the Big Ten and the Big 12 college football games, which is why they love this hero stat.

8:13Political ad spending for the 2026 midterms is projected to be$11.6 billion, which is more than the 2024 presidential election season. And 48 % of that record splurgeon, it flowed to broadcast TV. And Fox Corp, the company we're talking about, owns 31 broadcast TV stations in America. Add it all up, yetis, and political ads are both ruining the TV experience for your average American. and keeping the business of cable and broadcast TV alive. Now, excluding political ads, cable and broadcast TV got just 10 % of all ads spending this year. It was down from 15 % in 2024. Cable TV is a shrinking business, but its share of political ads just keeps growing because swing voters love to watch them some football.

8:56The undecideds are decided that they're watching football on Sunday, which is why, despite ratings declines on Fox News, Q3 was the best profit quarter ever for Fox since 2020. But Nick, Lachlan Murdoch, the real-life inspiration for Kendall Roy in succession, and the CEO of Fox Corp, said the most relatable thing he's ever said yesterday. He said that viewers are fatigued. They're exhausted. By political ads on his networks. So you had his vote today because political ads will be over tomorrow. Until they restart again. And one second, Jack, I'm just getting a text message. Oh, now the political ads are on my phone.

9:33So Jack, what's the takeaway for all our buddies over in the political ads? This message is approved by AI. Yeti's The New York Times compiled a list of the top 20 donors driving this year's political ads. And who's on the list, Jack? It was soaked in artificial intelligence. Elon Musk was number one, the biggest with$445 million donated this year. He was bigger than the number two, three, and four mega donors combined. Musk was number one. The founders of Andreessen Horowitz were number four, and the co-founder of OpenAI was number 11. Top mega donors also included crypto, gambling, and finance companies and executives as well.

10:08Democrats had their usual suspects, Soros, Bloomberg, Hoffman, at number five, six, and 13. But AI Super Bowls had bigger influence in this year's political discourse than any industry before it. And once the votes are counted, that same AI money will now buddy up with the new Congress to influence them too. Campaign finance is bankrolled by the booming industry of our age like no industry ever before. AI. Because 2026 message was approved by AI. And so will 2027s. For our second story, the surprise viral skit on SNL last weekend, Sprite being called Poison. SNL did an entire skit insulting Sprite cherry lime habanero.

10:49Not even real. But we think Sprite should embrace that fake flavor. All right, yetis, we'll set the scene for you. The host was the star of Obsession, Indy Navarrete. The musical guest was Gracie Abrams. And the night was Saturday. But the real highlight of SNL's Halloween episode last weekend, what was it, Jack? A parody of a Spanish-style telenova soap opera. Two actors over the top drama. Jack, why don't we roll the tape? Push and play. I am not pregnant with your son because I slept with your father. Which means the baby in your belly is me. It's a plot twist, besties. is two corporate suits show up from Sprite and ask those actors for a product placement in the Telenova.

11:34Here's the joke setup. They say, Sprite, cherry, lime, habanero. We'd like you to just weave it in naturally in the next scene. And here's the joke punchline. The Telenova stars, they hate the new flavor and they just keep on trolling it accidentally. It tastes like poison. It is poison. It's kidding me. It's kidding my baby. Dios mío. Dios mío. Sprinkle out some Pop Biz context on both Sprite's current financial situation and Saturday Night Live's business history. Let's do it, Jack. You see, besties Sprite, they just entered a very exclusive club. Brands that have been roasted in an SNL scale.

12:05You got Stanley Mugs, which was called the Big Dumb Cup in an SNL episode. And Dunkin' Donuts had Casey Affleck chain smoking as their mayor in the store. And Jim Carrey mocked the Lincoln car ad with McConaughey. All right, all right, All right, it was an instant classic. And in 2019, Farrow & Ball Paint, a British paint brand, had all of its coulures ripped on by SNL. It's an expensive paint. But interestingly, for that last one, their sales actually surged. More on that in a bit. Now, for the business context of Sprite, it's owned by Coca-Cola, a publicly traded company that reported earnings last week.

12:37Get this, Coca-Cola stock gets up 41 % in the last 12 months to an all-time high. But Sprite fell behind Dr. Pepper a couple years ago to be number three in the soda category. Now Sprite has tried some spin-off Sprites to see what's going to click out there. They just launched Sprite Cool Mint, also Spicy Sprite, but only over in India. But to become number one, Sprite needs something bigger, needs something wild or crazier than just a flavor. So here's how. Yes, Sass and Al just insulted a Sprite brand more than any other brand before. They did repeatedly call it poison. Although it called Sprite Cherry Lime Habanero a fake flavor poison.

13:12Yeah, it's not a real flavor. So a real joke about a fake flavor, we think Sprite should embrace this. And run with it ASAP. Or rapido, as Marcello would say. Mi padre es mi hermano? Jack, what's the takeaway for all our buddies over at Sprite? Sometimes the cure is poison. Yeah, we'll get right to it. We think Sprite should launch a limited time only joke flavor based on that SNL skit. It's a layup. Call it Sprite Cherry Lime Habanero. Like the skit. Or call it Sprite Poison. to really lean into this. And for proof that this could work, Sprite can just look no further than its sister brand, Diet Coke.

13:47Because according to last week's Coke earnings, Diet Coke sales are at an all-time high for one surprise reason. Gen Z calls Diet Coke fridge cigarettes and embraces that nickname by drinking Diet Cokes. Coke's CEO said last week he hates the term fridge cigarette, but it's working. They're getting an ROI. Oh, and that British paint company that was ripped on by SNL, they created a new color, or calure, based on the sketch. They took that joke at their expense and boomeranged it into a marketing campaign. So Sprite should channel the same comedically villainous energy as the skit and jump on this ASAP.

14:18To grow sales, Sprite should see SNL's insult as opportunity. Sprite needs to move at moxie, the speed of culture, because sometimes the cure is poison. What are they? Now, a quick word from... Him's hair. Yetis, when we get on stage for a live show, the number one thing we're thinking about is confidence. Yes, we do the whole look in the mirror thing and pump ourselves up Jack Donaghy style. that gets the Super Bowl of podcasts. Look good, feel good, play good our hair. It impacts how we look. Confidence is also not having to think twice before you take a photo or take off your hat. Well, HIMSS is built on the science of regrowth, like the super special ingredient finasteride known to stop hair loss and another ingredient known to regrow hair.

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15:25Prices vary based on product and subscription plan. See website for full details, restrictions, and important safety information. Nutraful. Yeti, a lot of people talk about their morning podcast routine, but we prefer to call it a ritual. Same meaning, but more epic word. Totally. When it comes to keeping my hair thick and full, I religiously take four Nutrafol pills with my breakfast every day. For Jack, the religious connotation of the word ritual is on point because he's praying to keep his hair. Not just praying, Nick, also science. True. Nutrafol is the number one dermatologist recommended hair growth supplement brand.

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16:37For our third and final story, Anthropic surprised us with another gift yesterday. Their first ever earnings report. Two weeks before their planned IPO, Anthropic revealed their biggest challenge. It's got something to do with the Buffalo Bills. Yes, it does. But Besties, this story really begins last Monday when Anthropic dropped their IPO paperwork. The old S1. It's required of every company before IPOing. You got to share the good and the bad to the public. Jack and I jumped in T-boy style and we saw some good. Nearly 12 ,000 companies are paying over$100 ,000 a year for Claude. And we also saw some bad.

17:12Yeah, the company said existential risks to humanity or society three times. Oh boy. And this stock of Anthropic will begin trading with the ticker symbol ANT. Ironic that it's ANT because Anthropics IPO will be a whale on Wall Street. Next up, Goldman Sachs and Morgan Stanley are going to do a road show for the new Anthropic stock. They're going to talk up Anthropic Stock to mutual funds, ask them to buy a whole bunch of shares on IPO day. And even though the IPO hasn't happened yet, we're already getting some whispers on Wall Street, aren't we, Jack? The valuation is looking$1.4,$1.5 trillion-ish, about 18 % smaller than SpaceX's record IPO.

17:47Production markets think trading will begin on the 19th or 20th of November, the Thursday or Friday before Thanksgiving week. Basically, they want to stuff the turkey before the holiday, right? So the big drama this Thanksgiving is going to be your Uncle Bill mansplaining to you why you should or should not have bought the stock yesterday. Exactly. We get it, Bill. Because he watched a TikTok video. Bill brought a slideshow with his 401k again. Yet his Anthropic just amended their S1 IPO paperwork, basically adding their first earnings report to it. That's a huge deal. Because we just got last quarter's numbers from the biggest AI company in the world.

18:22And what are we saying, Jack? In the quarter that ended September 30th, revenue for Anthropic rose 12x compared to the year before to$17 billion. 17 billion. Can you sprinkle in some more context, please, Jay? Those numbers are so huge. It's actually the same quarterly revenue of Delta Airlines, but Anthropic is only three years old, and it's got 600 times more growth rate than Delta. And that Q3 number is actually a slight slowdown from the 14x revenue growth that Anthropic saw last quarter, but still insane. Insane growth for a company this large. But besties, what we really find fascinating is that the biggest challenge Anthropic just introduced us to, it's compute commitments.

19:03Basically reservations. Some men and women in this dating market are afraid of commitment. Yeah. Not Anthropic. Because get this, Anthropic has reserved 895 billion bucks in data centers to compute all of your prompts. And in yesterday's amended S1, they gave us more details on the compute commitments that they're on the hook for through 2045. It's actually an amount 13 times bigger than the money they bring in in annualized revenue. So you think your rent's bad? Yeah. Anthropic is on the hook to pay$10 billion a month for the next 48 months to use its competitors' data centers. This is so wild, there's only one more way we could explain it, Jack.

19:41Quarterback Jack. Get this, Yetis. Anthropic reserves so much computing capacity that it's actually stealing electricians who work for the Buffalo Bills. According to the New York Times, there's a new data center in upstate New York exclusively for Anthropic, and it's accused of poaching electricians from the Buffalo Bills football stadium. So Anthropic should definitely add Bills Mafia to the risk section. By the way, if the Bills don't win the Super Bowl this year, Josh Allen is shorting Anthropic stock 100%, Jack. So Anthropic is expecting exponential revenue growth to pay for their exponential growth in computing costs.

20:13But Jack, revenue growing is a hope. Most customers like you and us can cancel or walk away from Claude anytime. Cost growing, that's a certainty. Three quarters of Anthropics data center deals are non-cancelable reservations. What we're saying, Basties, is that revenue is a forecast, but rent is a contract. Anybody renting right now knows that. Yeah. Such is life, Jack. So Jack, what's the takeaway for all our buddies in the Bills Mafia and the biggest IPO of AI time? Here's a new perspective on Anthropics losing money. You better be losing money. You see, Eddie's, AI is a land grab. Every lab is trying to snag every available data center, every available customer, like an episode of Yellowstone.

20:57And it reminds us of Uber. Uber raced at breakneck speed, charging loss-making fares in the Uber app because it wanted to crush the competition and win the race. You see, investors wanted Uber to lose money to win the race. And now, Uber's a profit-making machine. Well, investors today want the same playbook for Anthropic. You see, Wall Street's instincts are to tell Daria, the CEO of Anthropic, negotiate low prices for data centers. walk away if the price is too high. Basically, be careful with our money. But Silicon Valley's instincts are the opposite. They're telling Dario, here's$100 billion, go grab some data centers faster than the competition.

21:31Hey, Anthropic, win the race because any customer or data center lost goes to a rival like OpenAI or Meta. Old school Wall Street investors see Anthropic not generating profits as a problem. But new school Silicon Valley investors see Anthropic not generating profits as a requirement at this stage. Hey, Jeremy McGuire, don't show me the money. Go spend the money. Spend it. Jack, could you whip up the takeaways for us for T-Boy Tuesday? There's already a winner of the midterms. Fox profits tripled last quarter on TV ads, mostly during football, mostly political, mostly attack ads. And this 2026 message was approved by AI.

22:09So will 2027s. For our second story, SNL roasted Sprite cherry lime habanero. Fake product, real opportunity. We all fight in the attention economy, so Sprite should seize this attention at Mach C, the speed of culture. And our third and final story, Anthropics' first earnings report. If it was making a profit right now, it would get spanked. As the Buffalo Bills would tell them, lose the money, guys, lose it. But besties, this pod's not over yet. Here's what else you need to know today. First, we got Apple's first earnings with the new CEO, John Ternus, announcing 12 % revenue growth last quarter.

22:40John Ternus said nothing of the iPhone Duo or HomeView, which launched after the quarter ended. At the same time, Palantir CEO Alex Karp said this wild quote about his earnings. I don't believe anyone's had consistent results like this in the history of software AI ever. Both stocks fell though. To be clear, the history of software AI is only a few years. Yeah, it's not much of a history right now. But both Apple and Palantir stocks fell. So did the NASDAQ overall, which is now down 9 % from its all-time high. Second, Rent the Runway just expanded into handbags for the first time. If you're not dropping 10 ,000 bucks on our maze, you could take one to a wedding weekend for 200 bucks instead.

23:16And trick people. Isn't the point of a handbag like owning the handbag? You try to convince people you own the handbag? Jack, that is a ludicrously capacious thing to say because there's no greater flex than I may have invested in what's on my arm right now. Rent the Runway stock fell 9 % yesterday on the news. It's now worth less than$100 million. But could be an eligible bachelorette brand to buy. And finally, happy college basketball season to all those who celebrate. On campus are off. Did you see that Villanova tipped off against Notre Dame in the Vatican this week? Holy. Holy C. Holy C. By the way, this is a profit puppy of a year for the NCAA because March Madness is expanding to 76 teams.

23:58And UConn's top player, Braylon Mullins, chose to stay in school this year, not jump to the NBA because of all that NIL money he's making in college. Not too shabby. Now time for the best fact yet. This one, also a correction, sent in by Alberto Navarro from lovely Jersey City, New Jersey, just outside Manhattan. Last week, we talked about tequila on the pod. Given the drop in alcohol demand, California wineries are pivoting to making tequila. But tequila is like champagne. To call it tequila, it must be from a specific protected region of Mexico. True tequila can only be produced in five particular Mexican states.

24:31And who are they, Jack? That would be Guanajuato, Michoacan, Nayarit, and Tamaulipas. Jack, that would be four. Last is Jalisco, the heartland of tequila, home to the tequila itself where the spirit gets its name. So if you make tequila anywhere else in the world, it's not tequila. It's technically called agave spirit. That would be Jalisco, the heartland, home to the town of tequila itself where the spirit gets its name. And if you make tequila anywhere else in the world, it's called agave spirit, which doesn't roll off the tongue. If California does make this pivot from wine to tequila-like agave-based spirit, they gotta come up with a new name for it.

25:06They can't go with agave spirit. Like Italy did with Prosecco, right? We got to rebrand this, right? Yeah. Yeah. Come up with just a brand spanking new name. Cali Kila, Tecafornia. I don't, it doesn't even have to be name-based. It could just be a totally new name, like Scrum Treless. Yetis, you look fantastic over there. And Jack, Dios mio, you are glowing right now. I'm actually poisoned right now. Yetis, tomorrow is the live show in Seattle. Grab your final ticket to tboypod.com or just click on the link in this episode description. And if you want to come up on stage to give us the best fact yet, send us yours about Seattle.

25:42We may call you up. DMS your best facts at tboypod and Jack and I will see you on stage.

25:51And before we go, a happy birthday to our legendary Yeti buddy, Mia Panzer from Montclair, New Jersey. Thanks for being a longtime Yeti man. And happy birthday to Andrew Nave from Syracuse, New York. And Teresa Gustafson from Aurora, Illinois, the realtor of royalties, turning 45. Happy birthday to Brittany Wade, turning dirty 31 in New York City. And Christopher Ang, we see you're 32nd over in California. Congrats, man. Happy birthday to Frank Nala in Long Beach, his fifth or sixth birthday shout out on the show. Who's counting? And Carol of P partying up in San Francisco for the birthday trip.

26:20Enjoy Napa next weekend with or without tequila-like spirits. And happy birthday to Todd Kushner of Maryland. Thank you for the correction, by the way. In our story about Chiefs of Staff, we said that Josh Lyman was the Chief of Staff in the West Wing. That was obviously Leo McGarry. Josh Lyman was the Deputy Secretary of State. Did I get that right, Todd? Did I get that right, Todd? Jack, Todd has filibustered you right now. Todd is filibustering. We'll have to see the Yetis on tomorrow's show.

26:53This is Jack. I'm on stock of Disney, and Nick and I both on stock of Apple. Yetis, this holiday season, don't miss your chance to turn just looking into just bought it. Make it easy for your customers to say yes on the spot. PayPal checkout is a trusted conversion engine fueled by 400 million active PayPal and Venmo accounts. And when you add pay later, you can turn holiday shoppers into regulars. 96 % of pay later shoppers are repeat users. So if you give them pay later flexibility now, it could help earn their loyalty all year long. PayPal is built for all business. Get started at paypal.com slash business.

27:26PayPal data, eight markets, March 2025 to February 2026. Repeat users defined as more than one pay later purchase in the past year.