The Best One Yet
š ā3-Pointer Economicsā ā NBAās shot problem. Zelle is beating Venmo. Jamie Dimonās rant.
Tue, 18 Feb 2025
Venmo & Cash App are getting crushed by Zelleā¦ The boringest app disrupted the disruptors.The NBA has a problem: Too many 3-pointersā¦ but thereās an economic reason for them.Jamie Dimon just went on an expletive-laced rant about Work From Homeā¦ and we got the tapes.Plus, the untold origin story ofā¦ The Patagonia Fleece.$XYZ $JPM $BACWant more business storytelling from us? Check out the latest episode of our new weekly deepdive show about the Patagonia Fleece š. Subscribe to The Best Idea Yet: Wondery.fm/TheBestIdeaYetLinks to listen.āThe Best Idea Yetā: The untold origin stories of the products youāre obsessed with ā From the McDonaldās Happy Meal to Birkenstockās sandal to Nintendoās Super Mario Brothers to Sriracha. New 45-minute episodes drop weekly.ā-----------------------------------------------------Subscribe to our new (2nd) showā¦ The Best Idea Yet: Wondery.fm/TheBestIdeaYetLinksEpisodes drop weekly. Itās The Best Idea Yet.GET ON THE POD: Submit a shoutout or fact: https://tboypod.com/shoutouts FOR MORE NICK & JACK: Newsletter: https://tboypod.com/newsletter Connect with Nick: https://www.linkedin.com/in/nicolas-martell/ Connect with Jack: https://www.linkedin.com/in/jack-crivici-kramer/ SOCIALS:Instagram: https://www.instagram.com/tboypod TikTok: https://www.tiktok.com/@tboypodYouTube: https://www.youtube.com/@tboypod Anything else: https://tboypod.com/ Subscribe to our new (2nd) showā¦ The Best Idea Yet: Wondery.fm/TheBestIdeaYetLinksEpisodes drop weekly. Itās The Best Idea Yet.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Chapter 1: What is Zelle and why is it outperforming Venmo and Cash App?
This is Nick. This is Jack. Welcome back. It is Tuesday, T-Boy. Tuesday, February 18th. 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. How was Valentine's weekend? You got like a babysitter for three days over the weekend, basically.
We had an epic day date Saturday. Yeah. Skiing Monday. It was a great weekend. Skiing Sunday as well. Oh my God.
Back to back. Jack, you know what I made Molly for Valentine's Day? What'd you make her? Carbonara. You know why? Why? There are eggs in it. You think eggs are the grandest gesture of love? It's bigger than caviar these days. Yeti's three fantastic stories for today's show. Jack, what do we got on the T-boy? For our first story, it's Zelle.
Zelle.
You're not going to believe it, but Zelle is bigger than Venmo and Cash App combined. So we got the details on what the hell is going on with Zelle. For our second story, it's the NBA. Their TV ratings are suffering because there's simply too many three-pointers. Well, guess what? There's a solution to the NBA's three-point problem, and we found it in an Econ 101 textbook.
And our third and final story is Jamie Dimon. Jamie. He went on an expletive-ridden rant about working from home, and we found audio of it.
Yeah, we got the tapes, so we are breaking it down line by line with Nick and Jack play-by-play analysis. But yeties, before we hit that wonderful mix of stories. What a just fantastic mix of stories after a three-day weekend, Jack. Love it. Trivia. Yes. What product got so popular that the owner told us to stop buying it? Besties, what product found its magic material in a toilet bowl cover?
And what product is beloved by both finance bros and granola crunchers alike?
Jack, the answer, please. The Patagonia fleece. The Patagonia fleece.
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Chapter 2: Why are NBA ratings dropping this season?
And in the case of basketball, the NBA is responsible to step in because it kind of acts like the government here.
Actually, Jack, we've seen this before. Like this happened in baseball when the league banned the defensive shift.
Yes, we did, Nick. And fans love that the shift is banned.
So the NBA, they need to institute some rule changes. Maybe they move the three-point line back. Or Jack, they change how many points a three-pointer is worth. They should change the math and only give you two and a half points for a made three. Honestly, we don't know. But we do know that basketball faces a market failure. And it will take the NBA to intervene to fix it.
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Chapter 3: What economic factors are driving the increase in three-pointers in the NBA?
For our third and final story, an expletive-laden rant from Jamie Dimon about remote work leaked last week. So we're breaking down line by line why he thinks everyone should be in the office every day. We got the tapes. But first, Yetis, our hero stat of the day.
Get this. According to McKinsey, 2024 is the year that workers return to the office.
They surveyed 800 companies and the number of workers in the office doubled in the last year.
68% of the employees at those companies said they're now mostly in person working in the office.
Now, a side note about going back to the office. Amazon now requires you to be in the office five days a week, but Amazon doesn't have enough desks. Hey, Alexa, send Amazon some desks on Amazon. True story. Amazon ran out of desks. But another return to office leader in business is JPMorgan Chase, America's biggest and most profitable bank. And the head of that bank is Jamie Dyer.
Jamie. Who's been the CEO of JPMorgan Chase for 19 years. He's also a born and raised New Yorker.
And besties, you're about to hear his New York accent and his New York cussing in a wild, leaked voice. audio tape.
We're going to play the clip, bleep the bad words, but here's Jamie's rant during a company all hands last week.
A lot of you were on the Zoom and you were doing the following, okay? You know, looking at your mail, sending texts to each other about what the other person is. Okay, not paying attention, not reading your stuff, you know, and if you don't think that slows down efficiency, creativity, creates rudeness, it does.
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Chapter 4: How can the NBA fix its three-point problem?
And don't give me the shit that work from home Friday works. I call a lot of people on Friday. They're not a person you get a hold of.
We're fans of summer Friday, full disclosure. But you know, if someone says they're working and they're not actually working, that could be a problem.
Work from home is a privilege. So don't ruin it for everybody else.
If you're supposed to be on the clock, answer your phone when your boss calls. Which leads to our third point from Jamie Dimon.
I've been working seven days a week since COVID. And I come in and I'm like, where's everybody else? But they're here and there and the Zooms and the Zooms don't show up. And people say they didn't get stuff. So that's not how you run a great company. We didn't build this great company by doing that.
Now that one is hypocritical. You know, last year, JP Morgan actually had to cap worker hours working at their investment bank because a banker at another bank actually died just from working too hard.
Yeah. So like six months after he says you can't work more than 80 hours a week, investment bankers, he tells all those ambitious investment bankers, I work seven days a week.
Yeah. And like implies you're supposed to as well. So Jamie Dimon's basically saying come in seven days a week and his bank saying the opposite. And then Jamie finished with this final point in the leaked audio.
Now, you have a choice. You don't have to work at J.P. Morgan.
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Chapter 5: What is the origin story of the Patagonia fleece?
We owned a jacket. I think legally, technically, we owned the land. I'm just saying. But then Vermont became the 14th state just missing out on the original 13 colonies. You're welcome, Jack. Yetis, you look fantastic over there. And if you are right now wearing a Patagonia fleece, which odds are like more than half of you are, you are going to love our latest episode of The Best Idea Yet.
Yvon Chouinard was an incredible innovator.
He wanted to save the world, but accidentally like was hurting the world with his fleece sales. It's a crazy story.
I love how he literally discovered the fleece because of a toilet seat. And then Jack, when he told people to stop buying it, like he literally said, don't come in the stores anymore.
Of course, of course that resulted in the opposite.
You got to check out this show. So go to The Best Idea Yet. Jack and I will see you there. And before we go, a happy birthday to legendary Yetis Lloyd Brotman and Merrill, who are celebrating in Philadelphia. They are fantastic Eagles, and they are fantastic Philadelphians. Happy birthday to Marielle Sparks-Cardinal in Vancouver, British Columbia.
And Sydney Barnes has turned a nine-year-old down in Aptos, California. Happy birthday, Sydney. Happy birthday to Bi-Chuan Lo in Nanning, China. And Cindy Lester is turning a 60 years old over in Mesa, Arizona. Happy birthday, Cindy. Happy birthday to Chris Sesney in Renton, Washington, who does a morning walk with Mr. Pickles. I assume listening to our show.
And Grace is moving down to San Diego for a new job. Grace, enjoy the tacos. And a shout out to Cordell Zelensky, who's a big fan of Jamie. And Amanda Whitman in Boston, just outside Boston, leaves the best comments on all our social media at tboypod. Amanda, we love having you with us. And the comments are the comments.
And a big shout out to future parents, Cody and Kim Rhodes from Spangdalem, Germany.
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Chapter 6: Why did Yvon Chouinard tell people to stop buying Patagonia?
And Jack, a Fieldston Eagle who I ran into on my flight to SF. Jack, she's fantastic and she loves the show. Great to have you with us. And finally, we did that poll last week on Spotify. If Netflix gets into podcasts, what should we call them? Okay, 22% of you said net pods. And 78% of you said PodFlix. Hear, hear. Yeah. PodFlix and chill.
And to anyone else celebrating something today, make it a T-boy. Celebrate the wins.
This is Jack. I own stock of Amazon and Reddit, and Nick and I both own stock of Apple. Wilder asked me, who is that? When I was like telling Siri what song to play. Oh, that's awkward. I was like, but she's not a real person. And he's like, why is she not a real person? I was like, because she doesn't have a body like us.
You can't touch her. Wow. Jack, in like 30 years, you're going to look back at my convo and it's going to sound racist. If you like the best one yet, you can listen ad-free right now by joining Wondery Plus in the Wondery app or on Apple Podcasts. Prime members can listen ad-free on Amazon Music.
And before you go, tell us a little bit about yourself by filling out a short survey at wondery.com slash survey. We want to get to know you.
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