Big Banks Pushback Against Credit Card Cap & Beyond Meat Launches Protein Drink
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Good morning Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, Ben Affleck goes from robbing Fenway Park to disrupting Hollywood.
Then Beyond Meat is launching its first non-meat product ever, a drink. It's Friday, January 16th. Let's ride. Let's ride.
Good morning and happy Friday. The year may be 2026, but at least on social media, it's 2016. You've probably seen this on your own feeds or participated it in yourself. A viral trend has users posting pictures and memories from 10 years ago when Hamilton was huge, Beyonce released Lemonade, and everyone was doing the mannequin challenge. Apparently people are nostalgic for the summer of Pokemon Go. Toby, what were you doing in 2016?
Well, that was my first year of college, and I hate to say it. I had a full-on man bun during that time. But I also went back through the year and found some things to reminisce on. On social media, in addition to the mannequin challenge, we saw the rise of the evil Kermit the Frog meme where he's wearing the hood and also Arthur's fist. Feels like those have been around internet lore forever, but no, they emerged in 2016. 2016 is when Instagram stories were first introduced, which is wild to think about. I do remember Pokemon Go, too. I was running down a road looking for Blastoise. My mom was visiting me at college. It was not my finest moment ever, but hey, that was a fun time. 2016 is when Stranger Things was released.
That is insane to me. We're still watching Stranger Things to this day, and also AirPods were released. This is a dangerous game, though, because I could go on all day. The year you entered college is one of the last years I feel like you really, really remember, so I'm going to stop there. Are you going to post on social media? Are you going to join this trend? I don't know. You really don't want to see me with that man, bud. It was not a good look. He was a little ratty. And now a word from our sponsor, Indeed. Neil, I got something pretty exciting for you. A snowmobile? Nope. Better insights highlighting six dynamics that will define hiring in 2026 from evolving skill demands to the growing influence of AI on job structure and productivity.
Where'd you get something like that? From Indeed.
They're gearing up for something. Yeah, the World Economic Forum's annual meeting in Davos next week. And Indeed will be there giving business leaders the inside scoop on all things hiring. We'll be there too.
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You listeners can also explore the insights at Indeed.com slash 2026 Hiring Trends, you lucky little ducks. That's Indeed.com slash 2026 Hiring Trends. After a years-long run where it looked like they could do no wrong, Wall Street is looking like it's emerging from a four-martini lunch a little shaky. Bank earnings this past week fell short of expectations across the board as Bank of America, Citi, J.P. Morgan, and Wells Fargo all saw their shares wilt under a variety of different pressures. It wasn't one issue per se, but a range of problems, from J.P. Morgan reporting a slowdown in money-making relationships, However, one bank was able to emerge unscathed thanks to a focus on the 1%. Goldman Sachs had a particularly strong quarter on the back of record fees from its wealth management business.
plus a gangbusters trading quarter that saw its traders bring in $4.3 billion, the biggest haul on Wall Street. And though the halo around the banking industry was dimmed somewhat, it's still coming off a pretty dang good year. The six biggest banks in the country paid out more than $140 billion in dividends and buybacks in 2025, surpassing a record set in Trump's first term, according to Bloomberg.
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