The Best One Yet 3️⃣ “AI Bubble Wrap” — Our Warren Buffett stock pick. Cali’s Billionaire Tax. Jollibee’s spaghetti IPO. +Unhappy Hour
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Jan 9, 2026 The hosts dive into California's proposed billionaire tax, stirring debate over its impact and the possibility of wealthy residents relocating. They explore Jollibee, the Filipino fast food chain planning its U.S. IPO, highlighting its unique menu and diverse brand strategy. Additionally, they pitch Berkshire Hathaway as a safety net in uncertain markets, outlining its investment strength. Tune in for quick news bites, including NFL ratings and tech highlights, along with fun trivia about bobbleheads!
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Happy Hour Hasn't Recovered Post‑Pandemic
- Nick and Jack discuss the decline of traditional office happy hours since the pandemic and rising remote work.
- They contrast this with Europe's still-thriving pub culture and suggest inviting your VP for a post-work drink.
California's Retroactive Billionaire Tax Debate
- California may vote on a one-time 5% wealth tax targeting residents worth $1B+ that applies retroactively.
- The proposal could raise ~$100B short-term but risks billionaire migration and long-term revenue loss.
Why Income Taxes Fail On Billionaires
- Billionaires avoid income tax by holding wealth in stock and borrowing against it instead of realizing gains.
- A state-level wealth tax may be less effective than a federal wealth or inheritance tax at addressing inequality.