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The Best One Yet

🧻 “TP to AI” — Toto toilets’ tech pivot. Minnesota’s CEO moment. Graza’s olive oil envy. +Spend-vesting

27 Jan 2026

Transcription

Chapter 1: What is the main topic discussed in this episode?

0.031 - 25.47 Nick Martell

This is Nick. This is Jack. It's Tuesday T-Boy, Tuesday, January 27th. 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. And you know, Jack, they say those stories do sound better when it's negative 12 degrees outside. It was negative 22 on Saturday. Yes. Negative eight on Sunday. And we got 15 inches of snow on Monday.

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25.55 - 45.836 Nick Martell

That's right, Yetis. Jack is officially podcasting within an iceberg right now. So put on the earmuffs. Yeah, apparently Arc'teryx should be the sponsor of this show. And pass on your beaver skin pelt hats. Jack, three stories for today's T-Boy. What do we got on the pod? For our first story, everyone in America is watching what's happening in Minnesota, including Wall Street.

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45.936 - 59.755 Nick Martell

And 69 CEOs in Minnesota just broke the vow of silence in corporate America. For our second story, Graza disrupted the olive oil industry with shampoo-shaped squeeze bottles. But now Graza's facing a grand old problem.

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59.735 - 84.289 Nick Martell

grossification everyone is sucking it and our third and final story why did toto the japanese toilet and bidet company see their stock surge by 11 in one day well because this bidet business can actually power the ai industry according to golden sacks we thought it was a joke no it's not a joke flush it twice guys But yetis, before we get that wonderful mix of stars.

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84.47 - 87.933 Nick Martell

Seriously, Jack, what a mix of stories. Love the mix for T-Boy Tuesday.

88.033 - 92.137 Unknown

This week is your last week to set a New Year's resolution.

92.157 - 111.797 Nick Martell

I mean, after this week, you may not resolve to do anything else in 2026. The statute of limitations situation. So here's our last idea that can help you start investing this year. Here's the plan. Every month, find one product that you bought, but then buy the stock. We call it spendvesting. Ah, spendvesting. Jack, can you whip up an example for us over there, please?

111.777 - 124.529 Nick Martell

So let's say you see a $100 Ralph Lauren item on your statement from your credit card that month. Boom, you're going to buy $100 of Ralph Lauren stock right there. Let's say you count $20 worth of lattes that you bought. Boom, you count a $20 Dutch Bros stock right there.

124.649 - 129.954 Nick Martell

And if your parents are still sharing their Netflix password with you, well, then you should be buying Netflix shares, obviously.

Chapter 2: What are the significant developments happening with Minnesota's CEOs?

130.094 - 149.756 Nick Martell

Spendvesting. It's also an alternative to No Buy January because it encourages investing instead of consuming. It's for future you. Five years from now, you're going to thank yourself. Because the average stock in the last five years is up 15% per year. You can thank us, too. Oh, another way to spend Vest? Every month, pick the one product that you can't live without.

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149.977 - 155.464 Nick Martell

Again, go through your credit card statement and say, YouTube Premium, I can't live without that. Then you buy Google stock.

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Chapter 3: How did Graza disrupt the olive oil industry?

155.524 - 175.482 Nick Martell

Going through your statement, can't ever live without Kirkland brand peanut butter? Then you buy Costco stock. It's impossible to do my job without a Salesforce CRM of every person I've ever met. You cash in on some CRM stock, Jack. This is the last week you're allowed to make a New Year's resolution. So, besties, we hope you consider spendvesting.

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175.502 - 183.06 Nick Martell

Because as Snoop Dogg also once said, less spending, more vesting. That guy's got a lot of cash. Jack, let's hit up three stores.

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183.31 - 187.675 Jack Crivici-Kramer

15 years before this song, two boys from the Northeast met in the dorm.

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Chapter 4: What challenges is Graza facing with its innovative product?

187.695 - 205.757 Jack Crivici-Kramer

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, so just start the show.

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208.977 - 245.961 Nick Martell

For our first story, the killing of Alex Bredy in Minnesota has us heading for a government shutdown on January 31st. And on Sunday, 69 CEOs showed the business community how to speak up in Trump's second term. Do it together. Yetis, look, over the weekend, we were horrified, angered, saddened to watch Alex Peretti, a guy our age, get gunned down in Minnesota.

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245.981 - 260.035 Nick Martell

The Trump administration publicly labeled him as a domestic terrorist and a would-be assassin. Now, if you've seen the videos, and pretty much everyone has seen the videos by this point. Alex Peretti was helping a woman who was being pepper sprayed when he was tackled and ultimately shot as many as 10 times.

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Chapter 5: Why is Toto transitioning from toilets to AI technology?

260.376 - 266.862 Nick Martell

He was legally carrying a concealed weapon, but at the time he was holding a phone, not a gun, to record the officer's actions.

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266.842 - 271.209 Unknown

But that sad and political story has also become an economic story.

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271.349 - 271.99 Nick Martell

Yeah, it has.

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272.01 - 280.023 Unknown

Because Senate Democrats now say that they will refuse to fund the Department of Homeland Security, making a government shutdown possible on January 31st.

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280.223 - 297.851 Nick Martell

Jack, we should point out that this all came after an economic strike that happened in the Twin Cities on Friday to protest ICE's presence in the city in the first place. We have some friends in Minneapolis. We know this situation's incredibly intense there. I mean, we have one friend who said they're not even going into work right now. It is just too scary out there.

297.931 - 299.713 Nick Martell

So we're thinking of all of you in the Land O'Lakes.

Chapter 6: What impact does AI have on Toto's business model?

299.934 - 323.614 Nick Martell

It's huge news for this country. The big news from a business perspective is the letter that was signed by 69 CEOs on Sunday. Because yetis, this is what we love about the great state of Minnesota. 22nd in the country in terms of population, but 9th in the country in terms of epic companies. Get this, Minnesota has 17 Fortune 500 companies headquartered there.

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Chapter 7: What is 'spend-vesting' and how can it benefit consumers?

323.634 - 343.719 Nick Martell

17! That is 9th in terms of the rankings among the 50 states. And all 17 of those CEOs just called for an immediate de-escalation of tensions, quote unquote. Target, Best Buy, UnitedHealthcare, General Mills, 3M. I mean, Jack, from Target to Post-it Notes to Serial, they all just signed a letter that was published online by Minnesota's Chamber of Commerce.

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343.799 - 349.105 Unknown

Now, they did not say who is causing the tensions happening in Minnesota and who therefore should de-escalate right now.

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349.226 - 367.251 Nick Martell

No, the interesting and nuance of this letter is that instead, the CEOs called for cooperation among state, local, and federal officials. And they seem to have gotten some results that they hoped for already. They have because President Trump said on Monday afternoon that he would reduce the number of ICE officers in Minnesota if local police cooperated more with ICE.

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367.412 - 369.655 Nick Martell

And that happened after a phone call with Governor Walz.

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Chapter 8: How can consumers invest while spending?

369.735 - 378.81 Nick Martell

But besties, here's what Jack and I find fascinating. To us, this signals an interesting growing trend of corporate leaders willing to push back on President Trump.

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378.79 - 388.568 Unknown

One quick example from yesterday is that Volkswagen announced they're pausing plans to build an Audi factory in the United States, and they cited tariffs as the reason they're not building that factory.

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388.749 - 394.7 Nick Martell

Yeah, you want to sprinkle on more context to that one, Jack? One year ago, CEOs promised to build plants in America because of tariffs.

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395.381 - 401.214 Unknown

Now, this is the first time we've seen the opposite announcement. They're not building a factory because of tariffs.

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401.455 - 420.595 Nick Martell

It's unprecedented as a moment in a lot of ways. So Jack, what's the takeaway for all our buddies over in Minnesota? Minnesota CEOs show how to make public statements in Trump 2.0. Make them together. Yetis, in the last year, we've seen an unprecedented amount of capitulation from CEOs to a president of the United States.

420.615 - 439.341 Nick Martell

This is the only president to face zero public dissent from the business community. So it got our attention last week when Jamie Dimon voiced his dissent with three different Trump policies, but then he got sued. And here's the key. If instead Jamie Dimon had formed a coalition with other bank CEOs, he probably would have been harder to punish.

439.321 - 452.702 Nick Martell

And remember last year when every law firm was getting sued by Trump and every university had their funding taken away? Well, in both cases, those defendants were divided and they fell. But with Minnesota's CEOs, they're showing a different approach here.

452.782 - 467.031 Nick Martell

With falling approval numbers for the president and a precedent now happening for Minnesota, we think more of this vocalism from CEOs will come. You're going to see this because the leverage has shifted. CEOs will do again what they used to do and always have. And what is that, Jack?

467.171 - 491.496 Nick Martell

Voice their opinions on issues fundamental to the economy and their industries, even if those opinions displease the American president. And if they do, we bet they do it together. For our second story, Graza is the olive oil brand that went viral by using a squeeze plastic bottle inspired by shampoo. Well, the entire condiment industry has copied that innovation.

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