📚 “Vandanova” — 2 winning colleges. Bond Market’s unsubscribe. Baseball’s craziest hire. +Non-Alc Lawsuit

0:28This is Nick. this pod. Tap, tap, tap, tap, tap it in. Jack, three fantastic stories for the coolest show on capitalism. What do we got for the T-boy? For our first story, the government bond market is tanking right now, and it's all anybody can talk about on Wall Street. So Jack and I will explain the 30-year treasury yield like it's brunch with your buddies, because it is. For our second story, two colleges are crushing it in particular right now. We call them Vandanova. Yeah, Vandanova. Vanderbilt and Villanova. They're winning, and it's not just thanks to the Pope and the Knicks. And our third and final story, Major League Baseball just hired a guy who knocked off their app better than them.

1:03Besties, if you want to get promoted, you need to hear this story. By the way, comment four if you want to hear how to play today. Spoiler, he could have done better. But besties, before we hit that wonderful mix of stories. Love the mix of stories for the new Friday Jack. Best mix. If you listen to this podcast, you know that the best-selling alcohol right now is non-alcohol. That's right. Sales of Alk Free Alk have risen 14 % in the last 12 months. But pause the pot, because non-alcohol does not mean no alcohol. Get this, turns out zero does not mean literally zero. And we know because of a wild lawsuit against Heineken.

1:39Hey bartender, we're gonna need another round for this one, please. Let me pop open some context, Nick. There are three labels in this bubbly new regulated non-alcoholic industry. I got you, Jack. The first is non-alcoholic, the second is alcohol-free, and the third is zero proof. They all mean the same thing, right? Wrong. Alcohol-free means there must be no trace of alcohol. But non-alcohol permits up to 0.5 % alcohol. And zero proof? Kind of an unregulated wishy-washy term. It's like Chambord or terroir. No one really knows what that means, Jack. No, Nick and I are not chemists, but it turns out it's really, really hard to hit absolute zero when it comes to alcohol.

2:17But Jack and I are consumers, and it turns out consumers, it all sounds the same to us. And if you feel confused, you could sue these alcohol companies. Which someone did! Get this, Yetis. Heineken's non-alcoholic beer, it's called 0.0. Like, 0.0 is the literal name of that specific beer label. But that specific beer actually has 0.03 % alcohol content. So Jack, shouldn't they really be naming this thing 0.03? Hence the lawsuit, Nick. Now, Heineken's based in the Netherlands. Let's blame this on a translation issue. You know these Americans, we can be very litigious, can't we? And we're much more conservative in the States when it comes to alcohol than the Dutch.

2:56So Jack, what's the takeaway for all our buddies over at Heineken? You should hire an American lawyer. Yeah, you should. The takeaway for you though, besties? Chugging eight non-alcs gives you the alk of one Bud Light. Sip on that for a second, Jack. Let's hear it jingle. 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.

3:30So just start the show.

3:34Start the show. First, a quick word from our sponsor.

3:45Monarch. Yeah, it is. You know my first money lesson? It was where to put our lemonade stand. I was wondering, it was on the Upper East Side. Do we do it on Lexington Avenue or Park Avenue? Wait a second. New York City has lemonade stands on the sidewalk? They didn't. We were pioneers, Jack. Lexington Avenue is more commercial. Park is more residential. So what did we learn, Jack? Families are willing to pay more for lemonade. So you set it up on Park. Yeah, we did it on Park. Besties, no one gives you financial lessons in life. You end up figuring most of it out as you grow up. But we love Monarch because it's like a financial advisor in your pocket.

4:14Because every minute, it's tracking your savings, spending, investments, and more. For instance, Monarch's goal tracking feature shows if you're on track for that summer trip to Santa Fe. And it tells you what percent of your income is going somewhere that's a surprise. I open Monarch all the time because it takes the mental load off tracking my finances. And whether you're single, you're in a family, or you're dinking it up, Monarch's the way. Our personal fave, the AI Weekly Recap. A once-per-week gut check on what you did with your money. Hey, Nick, you've spent 96 bucks at kids' lemonade stands since July.

4:39Because we pioneered it for him, Jack. Resties, write your own story with Monarch. Use code TBOY 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 TBOY. 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.

5:15Another 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, Bessies, 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'd 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.

5:45Now they've got 70 locations and want to add more. You could be number 71 by launching Another Nine franchise near you. So head to www.franchise.anothernine.com to run one of your own. That's www.franchise.anothernine.com. For our first story, bond investors are unsubscribing from governments across the globe and it's raising your interest rate. Because America keeps breaking its own outrageous record. And it's all got to do with brunch with our buddy Timmy. But besties, the name's bond, government bond. What is a bond, by the way? It's a tradable loan. It's an IOU that you can buy or sell on the market.

6:27And if you own that bond, Yeti, someone owes you money and they pay you interest for it. But right now, across the globe, investors aren't buying government bonds, They're selling them. And that is freaking out the stock market right now. It's why the S &P 500 is down 1 % in the last week. Because when nobody wants to buy government bonds, the government has to offer higher interest to make their bonds more attractive. So our 30-year government bond yields right now are the highest in the United States in 20 years. Japan's bond yields, they're the highest in 30 years. France, Germany, the United Kingdom, same thing with them too.

7:00The cost for their governments to borrow are soaring. Okay, but pause the pot, Jack. perfect timing here, right man? Yeah, yeah. In North Carolina, the United States just hosted the G20 Summit of Finance Ministers. It's like the Olympics of economists. So these finance ministers can get together, have a nice dinner, maybe play some golf, and address this global debt problem with some rational policy changes. Uh, nope. Because at the start of the G20 Summit, our Treasury Secretary said that our economy just has to grow faster. That'll solve the problem. Okay, but that's not credible because our economy is growing 2 % while our deficit is growing 6%.

7:36It's kind of embarrassing, but the hottest meme going viral in China right now, what is it, Nick? It's an animated AI video of an American bald eagle who has a vaguely Alec Baldwin accent. Nick sent it to me. The bald eagle is trying to buy stuff at the grocery store, but, you know, the bald eagle, which is America, his credit card is being denied and the cashier's laughing at him. Yeah, that's what's going viral in China. So, Yetis, that tanking in the bond market we just described, it's actually a wake-up call for the whole globe. The wake-up call is that government debt across the world and inflation are both out of control.

8:10Now, geopolitics, both the trade wars and the actual wars, those are making the situation worse. But to sprinkle on some insane context, Yetis. Please, Jack. When Nick and I were on vacation, the United States government debt hit$40 trillion. That's$117 ,000 per an American citizen in debt that we owe. Now, to sprinkle on some more context, during Trump's first term in 2017, we crossed$20 trillion. So in just nine years, we've actually doubled our debt load in the United States. And now that interest rates on our debt are 5%, not 3%, interest is our second biggest expense as a country. Get this, we actually spend more on interest than we do on our own military right now.

8:50Interest is second only to Social Security. So yet is the fear worldwide right now is a debt spiral, a deathly debt spiral. Because high interest rates slow down economies, which cause deficits to rise even more. Oh no. Which could cause interest rates to rise even further, which could slow the economy even more. Around and around you go, down to a death spiral. It's a death spiral. So the bond market right now, what it's really doing is sending a warning. It's sending a signal. It is sending a freak out flare. And it's bad news in the short term for mortgages, student loans, car loans, because they all move with the interest rates of government bonds.

9:24But that freak out flare is good news for sanity. And the reason is our takeaway. So Jack, what's the takeaway for all our buddies in this freaking out bond market? When your friends start ghosting you at brunch, you ask yourself a question. What's wrong with me? You ask yourself a few. Besties, this bond market sell-off, it could be the wake-up call to force the government to spend more sensibly. To cut spending, raise more taxes, or a combination of the two. And we've seen this before. Back in 2011, bond markets forced Greece to do exactly this. and now Greece has better finances than France or Italy.

9:58In 2022, bond markets tanked so much after the UK's new budget proposal that the PM lost her job and the new PM proposed something a little more sane. And back in April last year, President Trump canceled Liberation Day tariffs not because of what stocks did, but because the bond market tanked. So Nick and I are actually glad this bond market freakout is happening because we care about the future of this country and the country we're going to hand our kids. Now, besties, governments can issue more debt than businesses can, But spending$2 trillion more than you actually make every year, that's not sustainable.

10:29And yet we've been doing it for a decade now. Maybe this bond market freakout could actually cause some change to happen. Maybe this bond market freakout is like the equivalent of a mass unfollowing on your Instagram page. Yeah, what bond investors are doing, it's like swaths of customers ending their subscriptions to your business. Or Jack, maybe it's like friends canceling brunch on you, right? You start to ask yourself, is it me? Like, why aren't people going to brunch with me anymore? Besties, the bond market. It's the only message governments actually listen to. For our second story, universities are in trouble, but Villanova and Vanderbilt are bucking the trend.

11:06Partially thanks to the Pope and the New York Knicks. True story. Partially thanks to our takeaway. Oh, Yetis, it's the most wonderful time of the year for Bed Bath & Beyond. Because it's back to school season. My eldest had his first day of kindergarten last week. Nick's eldest had his first day of preschool this week. Jack, this is an outdoor preschool in San Francisco, by the way. We pay more even though there is no roof. I don't understand that. I don't understand how the tuition is more, but there's no overhead, literally. The outdoors is a luxury product. But besties, there are two college headlines that just got published and caught our pop biz attention.

11:40The first article, Syracuse University. The Q's, the orange, the home of the dome. Home of the dome, 22 ,000 students, number one journalism school, three basketball national championships. Ten lacrosse national championships. Mike Tirico went there. Who's the NBC guy who always does the Olympics? I think you're thinking of the Powell brothers, Jack. All the Powell brothers. But despite that national fandom and a$2 billion endowment, they've got their first time ever facing a budget shortfall. Jim Brown went to Syracuse, Nick. Lacrosse and football players. They need cash over at Cuse. Here was the Wall Street Journal headline Nick and I read.

12:16why Syracuse can't attract the students it needs to pay the bills. In fact, Syracuse just issued an emergency financial aid package in order to lure freshmen to start this fall. There's a couple of reasons for Syracuse's struggles. First is a federal policy of crackdowns on immigrations because international students, they're down 50 % at Syracuse and those are really lucrative pupils. Also, Cuse's basketball team, they missed the NCAA tournament five years in a row and that's bad for the marketing game. That matters. So orange fans are feeling blue. But besties, this is what Jack and I find fascinating.

12:45While the Syracuse Orange are in the red, two of their rivals are thriving. Call them Vandanova and start with Villanova University. Just outside Philadelphia. Villanova is the big man on campus thanks to both the Knicks and the Pope. You see, last week students arrived to Villanova's brand new$70 million campus, but it's not exactly new, is it, Jack? Because that new campus is actually the old campus of Cabrini College, which sadly shut down in 2024. Villanova acquired it. So Villanova can now enroll a thousand more students paying all-time high tuition of 73 ,000 bucks. This new campus is a profit puppy.

13:21And it's just two miles from the main campus. Not too shabby. Perfect timing, by the way, Jack, because how are applications to Villanova doing? They're up 10 % in last year and up 70 % from a decade ago. Now, part of that popularity, the Pope went there. Pope Leo, he was undergrad at Villanova. Jesuits, baby. Another reason for the popularity, three starters on the New York Knicks played at Villanova. And won a national championship there. And now there's a smoothie for each of those Nick's Nova alums in the cafeteria. Okay, but Jack, pause the pod, because there's another V university thriving right now, right?

13:53Vanderbilt. Yeah. The 154-year-old Tennessee University with a Dolly Parton-approved campus. New York Magazine just ran a whole article called How Vandy Bested the Ivies. And my sister, a Kappa Kappa Gamma alum, she keeps sending it to me, Jack. As she should, Nick. Now, the number of applications to Vanderbilt University has quadrupled in the last 20 years. Vandy's now jumped up to the top 15 in the college rankings. Which I'm sure your sister has also sent you a million times. Yeah, I know, I know, I know, the text chain. Now, there's a few reasons for Vanderbilt's rise. First, their president, he embraced institutional neutrality, which helped him avoid politics and the campus protests of the last few years.

14:31And interestingly, Vanderbilt strategically recruited Northeastern Jewish students because, as their president told the Wall Street Journal, Jewish students make universities more habitable places for intellectual life. And now Vanderbilt is opening a$100 million new New York City campus where the Vanderbilt family got rich in the first place 200 years ago. It all comes for a circle. Add it all up, besties in Vandanova and Syracuse reveal a reshuffling of higher education. Nick, you better tee up this takeaway for our buddies at SIGAP. T, give me an A. Jack wants the takeaway for our buddies going to college.

15:05It's the K-shaped economy of academics. Yeah, it is. We've talked about the K-shaped economy before, the growing gap between the rich and the poor. Now we're seeing it play out in academia. In general, trust and excitement for higher ed is at its lowest level ever. Both sides of the political aisle, they're not happy with their local provost. Add in the fact that America has fewer high school-aged kids. Right. Tuitions are unaffordable. 100K. There's spiking healthcare costs for the faculty. Oh, boy. And AI, it's freaking out both grads looking for a job and teachers looking to give their kids tests.

15:38And that is why on the low end of the spectrum, you have trade schools thriving right now. It's cheap to enroll at trade schools that will train you for AI-proof jobs that you use your hands. And on the high end of the spectrum, college has become a luxury product. The Ivies and Vandanova are thriving, graduating people who are going to manage an army of AI agents someday. But the middle is a tough place to be. That's where Syracuse is right now. Although we've seen the Orange Dane some epic comebacks, haven't we, Jack? Bob Costas. That's the NBC guy I was thinking of earlier. Legendary Cuse alum.

16:07Besties, this is the K-shaped economy of academics. 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? Yeah, the irony of having so many chickens to choose from, you cannot choose. This one's raised on a farm. This one's raised on a prairie. Is this range-free or cage-free?

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17:07Nature is 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? If you drop the ball in any one of those steps, you don't get paid. Nope. And you're missing out on cash flow. You should not have to chase your customers. This isn't tags. So powered by AI, Build does all that simply and automated so that you don't have to.

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18:14For our third and final story, a baseball fan built his own version of Major League Baseball streaming app and MLB just hired him. It's proof that to get someone's attention, do a freebie. Yetis, our story begins with Jason Weingart, a lifelong Orioles fan. The Orioles never won a World Series in this man's lifetime, unfortunately. No, they haven't. But this man, he has just finished a Cal Ripken streak of attention-getting. Jason worked at Postmates in a real estate tech firm, but neither of those were his passion. So on April 22nd, he launched his side hustle, a better version of the Major League Baseball TV app.

18:51And using the hashtag buildinpublic, he posted updates on threads as he built this new homemade TV app. And he kind of dragged the MLB. He said they were the pioneer of TV streaming, but they had lost the plot on technology. So Jason's version of MLB's TV streaming app included a half dozen new features that he knew baseball fans would love, but that Major League Baseball hadn't shipped themselves. More on those in a sec. But first, he did things the right way, Jack. This wasn't move fast and break things. This was move slow and make things. He used MLB's publicly available API and required that users have a Major League Baseball subscription to log in and use his app.

19:29And since he didn't have the, quote, express written consent of Major League Baseball, he limited the users to 100 people and used TestFlight, Apple Space for beta apps. But still, Nick, Jason's unauthorized app got the attention of Major League Baseball. And over in the dugout, the executive vice president at Major League Baseball, Kenny Gersh, got this slack message when someone showed him his app. Hey, Kenny, should we alert legal and send a cease and desist letter? Now, 99 times out of 100, Kenny would have replied yes. Jason Weingart's going to get a scary letter that kills his app before it's even taken off.

20:02But according to reporting from Sports Business Journal, this baseball executive said something else in response. Yeah, he said, quote, not ideal, but not a huge problem. Maybe we'll hire this guy. Major League Baseball was intrigued by Jason's app and probably a little embarrassed because of what he was able to build himself. Awkward because this new app introduced brand new features like mobile multi-view. You could watch the Red Sox game and the Yankees game at the same time because they're locked in a playoff race. He also added an enhanced lock screen for live activities. So you can track the game without having to open your phone every five minutes.

20:35He even included an eye-tracking technology from the iPad so that the audio plays on the split-screen game that you're actually looking at. And it mutes the other three split-screen games you're not looking at at this moment. Didn't even know the iPad can know your eye movements for doing that, Jack. Now, Major League Baseball's official TV app, it had no tie-in for your fantasy baseball team, but Jason's version did. Well, besties, after four months of iterating his app, sharing his updates on threads, and responding to people's feedback, Jason finally did get that letter from Major League Baseball.

21:06But it wasn't from MLB's lawyers. It was from MLB's HR department. Because this was a job offer. That same executive vice president, he said that Jason's app was, and I quote, exceptional. Major League Baseball hired Jason Weingart full-time as principal product manager. This guy came out of nowhere to make the big leagues. Get this man an agent. And if MLB's app improves next year, you know it's because of Jason. And his signing bonus. So Jack, what's the takeaway for all our buddies looking to get hired or promoted? Your first project for a dream job should be unpaid. Yeah, it is. In the great gospel of Batman, the Joker once said, if you're good at something, don't do it for free.

21:45We'd modify that though. If you're good at something, do it for free, but only once. And what we're saying is instead of telling them you deserve this job or that promotion, show them by doing it unpaid. And unprovoked. Now, to be clear, Nick and I are all for paid internships. Yeah, like it's not fair to only employ kids who can work unpaid thanks to their parents. But to get someone's attention, there's no better way than to simply do the work even though you're not being paid to. Jack, that's like how we got our new social media video editor here at T-Boy, right? He emailed us out of the blue with some awesome videos attached to the email and said, let me work for you.

22:19They were good. Besties, we believe that people get credit for good work and good work gets rewarded. That's what happened here with this homemade baseball app and Major League Baseball. So best use your first project for a dream job, it should be unpaid. Jack, could you whip up the takeaways for us for the new Friday? Government bond markets are tanking due to high debt and high inflation across the globe. Investors selling your bonds is like friends canceling brunch with you. That's a wake-up call. For our second story, while Syracuse applications are down, Vanderbilt and Villanova are soaring.

22:51Vandanova, it's the K-shaped economy of academia. And our third and final story is Major League Baseball. They hired the guy who publicly built a better but unauthorized version of their streaming app. To get the attention needed to get your dream job, do the job unpaid. But only once. Yeah, only once. Don't do it more than once. But besties, this pod's not over yet. Here's what else you need to know today. First, Timmy Cook is officially out as CEO of Apple this week, but that doesn't mean he's not getting paid, Jack. In fact, Apple just announced Tim Cook will get paid$47 million this year. Yeah, because Tim is staying on as chairman of the board, so he'll be handling the politics behind the scenes for Apple.

23:29Yeah, his new real role is Trump whisperer. Apple is paying Tim to be their liaison to the president so that the CEO can focus on the actual business. And second, the Sam Altman biopic movie is about to premiere and it's called Artificial. Biopic. Nobody knows, Jack. It's like terroir. Well, this film will debut on October 5th at the New York Film Fest. It's basically like The Social Network, but about open AI. And guess who the star of the film is? Andrew Garfield. Yeah. Who was in the social network. That's right. Andrew Garfield is playing Sam Altman in this movie. And yes, we're going to watch it.

24:01And finally, the Chicago Cubs aren't just winning on the baseball field. Actually, I haven't checked the standings. Are they winning on the baseball field? Barely. They're doing better than usual, Jack. But they are definitely winning in Hollywood. Because the Cubs just became the first team to launch a rom-com. That's right, a Chicago Cubs microdrama. It's a multi-part series with like one minute episodes on TikTok called Nine Innings of Love. But they're not the first overall because Crocs launched a micro drama this year, Bilt launched one as well, and now the Cubs are in on the trend. Now time for the best fact yet.

24:31This one sent in by Meredith Johnson from lovely Southlake, Texas. The Minnesota State Fair packs nearly as many people into just 12 days as the Texas State Fair does in 24. Texas gets all the attention with the highest total attendance in the country running twice as long though. Minnesota welcomes nearly 2 million visitors, but in half the time. That makes Minnesota the largest state fair in the U.S. by average attendance. And those visitors, by the way, buy around 500 ,000 buckets of Sweet Martha's cookies each year at the Minnesota State Fair. And at roughly 100 cookies per bucket, that's 50 million cookies baked and enjoyed in just 12 days.

25:05I mean, Jack, those are Magnolia cupcake numbers right there. Deaddies, you look fantastic for the new Friday. Jack, H-Y-H-T-B-O-Y over there. Have you had the best one yet? Now, I gotta go play some golf. Oh, yeah, you gotta go play some golf. Get me out of here. Besties, while Jack is taking a mulligan on his fourth attempt on the fifth hall, you should grab tickets to our live tour. The episode is in our link description. Here's the generic golf hat I was telling you about, Nick. Am I looking good? Or go to tboypie.com. Grab tickets. Our first next stop is San Francisco on September 23rd. Nick and I, we'll see you tomorrow.

25:37Four!

25:44And before we go, a happy birthday to legendary Eddie Luz Garcia from lovely Guadalajara, Mexico. And happy birthday to Kelsey Ford in Austin, Texas. And Peter McCall, aka P-Money from San Francisco, living in San Francisco. Happy birthday, man. And happy birthday to Marcus, the man's man of Manhattan. And Nirav Patel down in Cupertino, maybe the next Apple CEO. Happy birthday. And happy birthday to Veronica Lynn, a five-year Yeti living in San Francisco. And Cole Thompson's turning 26 in the Bay Area. Cole, hope to see you at our live show in just a few weeks. Happy four-year anniversary to Rima and Sean in Atlanta.

26:17And Emily Osborne and Robert Norris also got an anniversary celebrating in California. And a shout out to Henry Ware, who told us about the 94 concerts of Fish. If you know, you know. And to anyone else celebrating something today, make it a T-boy. Celebrate the wins.

26:34This is Jack. Nick and I both own stock of Apple and ETFs of the S &P 500. Gusto. 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. Just kidding. That's not a one 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.

27:03Gusto is an online payroll and benefits software built for small businesses. It'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.

27:33That's three months of free payroll at gusto.com slash tboy. One more time, gusto.com slash tboy.