Ben Stiller

Michael, thanks for having me.

Michael, thanks for having me.

I hear it's not just us that we'll be hearing today.

I hear it's not just us that we'll be hearing today.

I love this. And I have to say, I hear all the time recently from friends, from family, from long lost acquaintances who are asking me these kinds of questions. And we're all spending our time asking these questions because like you say, it's not that clear in the data yet, but clearly something is happening and we're all trying to figure it out.

I love this. And I have to say, I hear all the time recently from friends, from family, from long lost acquaintances who are asking me these kinds of questions. And we're all spending our time asking these questions because like you say, it's not that clear in the data yet, but clearly something is happening and we're all trying to figure it out.

I'm not surprised we're getting these questions, and I will do my best. But frankly, the policies have been changing at such a speed that I don't know if by the time listeners hear this, we won't have had another round of changes. So I will do my darndest, but bear with me.

I'm not surprised we're getting these questions, and I will do my best. But frankly, the policies have been changing at such a speed that I don't know if by the time listeners hear this, we won't have had another round of changes. So I will do my darndest, but bear with me.

I was going to say, first of all, congratulations. You know, we normally think of tariffs as being mostly about higher prices, and they are for sure. But they can also be about the availability of goods. And when we talk about goods from China in particular... Right now, President Trump has imposed 145 percent tariffs on products from China. And you talk to some businesses.

I was going to say, first of all, congratulations. You know, we normally think of tariffs as being mostly about higher prices, and they are for sure. But they can also be about the availability of goods. And when we talk about goods from China in particular... Right now, President Trump has imposed 145 percent tariffs on products from China. And you talk to some businesses.

I talked to a toy manufacturer recently who said at a certain point, 145, 150 is at a billion percent. It doesn't matter. I cannot pay that. And so there's certain things that just may not come in. Baby goods are a prime example of this. A ton of our strollers and cribs and other baby equipment comes from China. And a lot of that is not going to come.

I talked to a toy manufacturer recently who said at a certain point, 145, 150 is at a billion percent. It doesn't matter. I cannot pay that. And so there's certain things that just may not come in. Baby goods are a prime example of this. A ton of our strollers and cribs and other baby equipment comes from China. And a lot of that is not going to come.

Now, look, eventually, right, people will figure out workarounds. It's not like no crib will ever enter this country again. But, you know, babies famously come on a timeline, right? Sometimes ahead of time. Sarah can't presumably just say, you know, never mind, we'll get the crib sometime next year.

Now, look, eventually, right, people will figure out workarounds. It's not like no crib will ever enter this country again. But, you know, babies famously come on a timeline, right? Sometimes ahead of time. Sarah can't presumably just say, you know, never mind, we'll get the crib sometime next year.

And so this is a situation where really the idea of trying to get something now before the tariffs make it impossible to get at any price is something I think we're going to see a lot of people starting to think about.

And so this is a situation where really the idea of trying to get something now before the tariffs make it impossible to get at any price is something I think we're going to see a lot of people starting to think about.

Yeah, I mean, look, we saw in the pandemic how complicated supply chains are, how small disruptions can filter through in unexpected ways. Look, I don't think you need to rush out and buy a year's worth of socks right now, necessarily. But it's probably not a bad idea to buy a crib. You know, look, I'm cautious about giving specific advice to a specific person.

Yeah, I mean, look, we saw in the pandemic how complicated supply chains are, how small disruptions can filter through in unexpected ways. Look, I don't think you need to rush out and buy a year's worth of socks right now, necessarily. But it's probably not a bad idea to buy a crib. You know, look, I'm cautious about giving specific advice to a specific person.

But yeah, I don't think it's crazy to say I better place that order for the crib now, even though I'm not going to need it for a little bit.

But yeah, I don't think it's crazy to say I better place that order for the crib now, even though I'm not going to need it for a little bit.