Jack Crivici-Kramer

Why is this bad for the economy?

Well, because you can't balance a whole economy on a Birkin bag.

Now, Yetis, there is a political conversation around whether this kind of wealth inequality is okay.

That conversation is happening in California and New York right now, which have momentum to tax the rich.

And in Florida and Texas, it's already happened, where they welcome the rich with no income tax.

But interestingly, the Wall Street Journal, a historical champion of low taxes on the rich, is calling Zuck's tiny taxes an economic problem.

because our economy is unhealthily dependent on the spending of the mega wealthy right now.

I mean, look, this tax situation is great for Cartier and Hermes, but is a huge risk to the rest of the economy.

If the stock market tanks and the wealthy feel less wealthy and stop spending, that could spiral us into a bad recession.

Besties, our economy, it has been robust in the past, able to handle economic shocks and shakes.

But if it depends on the uber wealthy buying another private jet for their Birkin bag, that's a fragile economy.

Jack, can you whip up the takeaways for us for the real Friday?

New Balance sales rose 19% in 2025, while Nike sales fell 10% the same year.

New Balance has tripled in size since 2020, thanks to their Tuesday morning breakfast club.

For our second story, Ring's security camera has put its owner, Amazon, in a PR crisis around surveillance.

Ring.

They didn't watch out for the whip.

The worst interpretation possible.

And our third and final story.

The Wall Street Journal highlighted the buy, borrow, and die tax avoidance strategy popular with billionaires.