TBOY Newsletter · Thursday, July 30, 2026

In recent weeks we’ve covered Ferrari’s new EV (the Luce), Fiat’s smallest car ever (Topolino), and Ford’s custom drop (Desert Bronco). But growing faster than all of them? The Minivan. 2025 sales popped 21% to 400K units, led by the Toyota Sienna's 35% growth. Sliding doors for the kids, nostalgia for the Millennial parents, and $30K cheaper than your avg full-size SUV. Turns out becoming your parents has a pretty good ROI.

The tech-heavy Nasdaq index is down 10% from highs set just over a month ago, pushing us officially into correction territory. Why? Couple theories:

• “The Great Brotation” theory: Risk-hungry traders trying to get rich trade AI stocks, crypto, and sports betting interchangeably.

• During the World Cup, the bros sold tech stocks to bet on Fútbol.

• The “Bros” were “rotating” cash out of AI names throughout June/July (sending prices down) & into gambling apps or prediction markets.

Cute story, wrong culprit. Because stocks the Memory stocks that powered the recent AI rally are the ones cratering now: Micron is down 32% in the last month, Intel and Marvell are down 37%, and Korea’s SK Hynix and Samsung are off 52% and 38%. Memory chips were the hottest sector in the market. Now they're the reason it's bleeding.

• But it all comes back to Big Tech: The hyperscalers that buy memory chips may run outta money.

• Tesla & Google announced last week they flipped to cash-flow negative… because they’re splurging on expensive Memory Chips. Don’t forget it.

• Meta stock is down 10% after announcing Wednesday they made $15B in profit last Q, but spent twice as much as that on data centers.

THE TAKEAWAY: If you're diversified, you've got AI bubble wrap.

About 400 of the S&P 500's 500 companies aren't tech, which is why the index is down just 0.6% this month versus the Nasdaq's 10%. Berkshire is actually up 3% as nervous investors rotate into value. Owning non-tech stocks is like wrapping your portfolio in bubble wrap, in case there’s an AI pop.

Who created the 1st gummy bear? Hans Riegel in Bonn, Germany (Ha-Ri-Bo). 106 years later, the King of Cavities is opening its 1st pure-play gummy stores in the US, with NY & MA locations opening in August. We’re talking retail concepts built like Willy Wonka got an architecture degree on TikTok.

• Walk in and you get a mystery bag: a Labubu-style blind pull of sour sharks, coke bottles, or raspberry sugar things.

• Above your head: Hollywood-studio lighting, for you to livestream the gummy unboxing.

• Haribo isn't chasing GLP-1-friendly protein gummies or wellness fads either. The company's philosophy, straight from the CEO: "We don't like to change."

That stubbornness made Haribo the world's biggest gummy maker — still 100% owned by the Riegel family. Oh, and 65% of gummy revenue is from adult eaters… so the Haribo store is targeting Zillennial date nights.

THE TAKEAWAY: One-trick pony? More like a one-trick racehorse.

Analysts have knocked Haribo for decades for only making gummies. But putting every resource into one category instead of diversifying is exactly why Haribo dominates gummies… and can charge a premium for it. If the 1 thing you do becomes your craft that you can do better than anyone? You’re a 1-trick thoroughbred.

In 1999, Ina and David Steiner launched a media startup called EcommerceBytes to cover the new world of online auctions. Two decades later, they published a few unflattering stories about eBay — one pointing out the CEO made 152x the average employee's salary, another about eBay increasing seller fees. The then-CEO texted this to his head of comms: "We are going to crush this lady."

What followed reads like a horror movie script from Jackass.

• eBay employees mailed the Steiners a box of live cockroaches, a bloody pig mask, a funeral wreath, and a book about surviving spousal death.

• They posted fake online invitations offering strangers “a good time” at the couple's house. And mailed the Steiners pornographic magazines — but had them sent to their neighbors’ doorsteps instead.

• The eBay employees even flew to Massachusetts to stalk them and vandalize their home.

7 eBay employees were sentenced to between 1-5 years of prison. But here’s the new news: The Steiners won their civil case on top of the criminal one: eBay pays $49M to the Steiners, $6M more to charity. And that former CEO who sent the text? He’s personally cutting a $1M check to a free speech nonprofit in Ina Steiner's name.

THE TAKEAWAY: If journalists are getting harassed, it's usually because they're telling the truth.

The US has federal, state, and local law enforcement, plus the SEC and the Fed to police public companies and banks. But it's often journalists, like the Steiners, who surface the wrongdoing first — which is exactly what the people they cover don't like. Violence against the press is trending upward worldwide. If journalists are telling lies, they can be sued for libel. If journalists are being intimidated, humiliated, or harassed, it’s because someone doesn’t want the truth being published.

Share today’s newsletter with your buddy who called dibs on the Captain’s Seat of the Honda Odyssey. More power to ‘em.