One reason the $70 billion supplement industry is set to double in the next seven years? Lax regulation.On today's show, we tell the story of a century-long battle between the U.S. government and … you, the people, blinded by your love of a magic pill.We’re talking about protein powders, pre-workouts, creatine, stuff for gut health, joint health, vitamin C, turmeric supplements. All that. You might not wanna hear this.Sources mentioned in the episode:Marion Nestle, Food PoliticsCatherine Price, VitamaniaSupport:Planet Money+Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletterOur weekly Indicator round-up newsletterFollow: InstagramTikTokYouTubeFacebookThis episode was hosted by Sarah Gonzalez and Jane Black. It was produced by Sam Yellowhorse Kesler, edited by Marianne McCune, and fact checked by Sierra Juarez with help with Vito Emanuel. It was engineered by Robert Rodriguez with help from Jimmy Keeley. Alex Goldmark is Planet Money’s executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

Have you ever walked around a street, mall, or airport and noticed two or three of the same franchise restaurant within walking distance? Why might one Starbucks or McDonald’s or Wetzel’s Pretzels sometimes be built so close to another? Are they friends or competitors? And how can that possibly be profitable?Today’s show is one such example. Our pals at Hyperfixed got a knotty question we just had to help them untangle: Why are there so many Wetzel’s Pretzels so close to one another at the Atlantic Avenue-Barclays Center Station?To find out, Alexi Horowitz-Ghazi followed the dough all the way to the top. His journey led him to a jolly pretzel executive, a franchisee with a deep-fried American dream, and a brush with mall security.Support:Planet Money+Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletterOur weekly Indicator round-up newsletterFollow: InstagramTikTokYouTubeFacebookThis episode was hosted by Alex Goldman and Alexi Horowitz-Ghazi. Hyperfixed is produced and edited by Emma Courtland, Amor Yates, Sari Soffer Sukenik and Tori Dominguez Peak.  The music is by the mysterious Breakmaster Cylinder and Alex Goldman. It was engineered by Tony Williams. Fact checking by Naomi Barr. The Planet Money version was produced by Sam Yellowhorse Kesler and edited by Jess Jiang. It was engineered by Robert Rodriguez. Alex Goldmark is Planet Money’s executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

99% of chemicals in our food right now were added without FDA approval. Many were added in secret, through a sneaky loophole built into the 1958 Food Additives Amendment.It was supposed to require FDA approval for new additives. But food companies and chemical makers found a workaround. And the FDA formally okayed the loophole in the 90s — in the process bringing attention to a loophole to the loophole.The FDA has essentially admitted it doesn’t have the capacity to verify the safety of new food chemicals. So they leave it up to food companies and chemical makers to declare their brand new chemicals are safe. These chemicals are used in everything from chocolate and smoked fish, to tea bags, protein drinks, popcorn, and seeds.So, how’d the loophole get there, and what does it tell us about the priority the U.S. places on safety versus speed and innovation? And, how much can one lawyer do about it?Live show tour and book info. / Subscribe to Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Facebook / Instagram / TikTok / Our weekly Newsletter.This episode was hosted by Sarah Gonzalez, produced by Sam Yellowhorse Kesler, edited by Jess Jiang, fact checked by Sierra Juarez, and engineered by Robert Rodrguez with help from Kwesi Lee. Alex Goldmark is Planet Money’s executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

Tax avoidance -- that is, legally reducing your tax bill -- is as American as apple pie. But the line between tax avoidance and tax evasion is often a grey one. On today’s show, a collaboration with Tax Notes, we listen in on the secret tapes that show how the wealthiest Americans avoid taxes. We trace the lifecycle of a tax loophole: how it was born (in Malta), how it grew, how the Feds cracked down, and how the industry came to its rescue -- with the help of one high-ranking Trump administration official. Support:Planet Money+Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletterOur weekly Indicator round-up newsletterFollow: InstagramTikTokYouTubeFacebookThis episode was produced by Luis Gallo and Emma Peaslee and edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo and Robert Rodriguez. Alex Goldmark is Planet Money’s executive producer.See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

How does a poor country become a rich country? There's a simple blueprint — or at least, that's what many economists used to believe. But over the years, a lot of rapidly developing economies have stalled out. These countries aren't poor anymore, but they're not rich either. They're stuck in the middle. The World Bank calls this problem the "middle income trap."And if there's a poster child for the middle income trap, many would point to Brazil. For a time, Brazil had one of the fastest growing economies in the world. On today's show, we head to Brazil to understand why the old blueprint for economic development might not work so well anymore.The story starts in the Amazon rainforest. With an audacious plan to industrialize the country as fast as possible.Support:Planet Money+Read: Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life Our weekly longform Planet Money newsletterOur weekly Indicator round-up newsletterFollow: InstagramTikTokYouTubeFacebookThis episode of Planet Money was hosted by Jeff Guo. It was produced by James Sneed and Luis Gallo. It was edited by Marianne McCune, fact-checked by Sierra Juarez, translation help from Sarah Robbins. It was engineered by Robert Rodriguez and Jimmy Keeley. Alex Goldmark is our executive producer.A very, very special thanks to Carrie Kahn and Valdemar Geo from NPR’s Rio bureau. Also to Otaviano Canuto and Denis Minev.See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

Do you work more for more money? Or work less for more time? For some, this is the ultimate economic choice. Every single worker in the European Union is guaranteed four weeks of paid vacation. No matter how long they’ve been at a company. No matter how low paying the job is. Vacation is a right. In fact, all but one of the richest countries in the world guarantees paid vacation, except: the U.S. According to a 2019 study, people in Japan get 10 paid vacation days and 15 paid holidays; in Australia it’s 20 paid vacation days and 8 paid holidays; and in Spain it’s 25 paid vacation days and 14 paid holidays. And it’s not just a rich country thing: Mexico, Afghanistan, Thailand, Tanzania - they all guarantee paid vacation from work, at least in the formal job sector. In the U.S: Zero paid vacation days and zero paid holidays. So, why is the United States the outlier? We go to several labor economists and historians, to find out what makes Americans different from Europeans. It’s a winding journey, so maybe put in a request for some paid time off and take a listen!Note: This episode originally ran in 2023.Some articles we mention in this episode:“No Vacation Nation”“Study: A Record 768 Million U.S. Vacation Days Went Unused in ‘18, Opportunity Cost in the Billions”“Why the US is one of only a few countries with no paid time off”This episode was hosted by Sarah Gonzalez, produced by Sam Yellowhorse Kesler, edited by Jess Jiang, engineered by Maggie Luthar, and fact-checked by Sierra Juarez. Alex Goldmark is our executive producer. Book info. / Subscribe to Planet Money+Listen free: Apple Podcasts, Spotify, Google Podcasts, NPR One or anywhere you get podcasts.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

If you have a credit card, hope to buy a house, or just want stable grocery prices – let’s talk about the future of Fed independence!It’s impossibly important for the Federal Reserve to steer monetary policy without political interference – an ideal pushed to its brink during Jerome Powell’s time as Fed Chair.Powell’s Fed faced a once-in-a-century pandemic, oversaw the economy as inflation spiked to about 9 percent … went back down to nearly 2 percent … and has started to go back up as the U.S. has gone to war and continued to try and implement the most comprehensive tariffs since the early 1900s.But perhaps Powell will be best remembered as a target – of angry tweets, speeches, and ultimately a criminal investigation, by the very president who nominated him in the first place.On Powell’s last day as chair, we ask where his story fits into the sweep of history. We’ll hear from someone who was on the Fed Board when Powell was appointed … and when President Trump started to pressure Powell. Plus, we learn what to watch for to see if Fed Independence is crumbling – or holding – as a new Fed Chair nominated by President Trump takes office.Recommend Listening: - Happy Fed Independence Day - The case for Fed independence in the Nixon tapes - A primer on the Federal Reserve's independence - Trump's unprecedented attack on the Fed - Should presidents have more of a say in interest rates? - Lisa Cook and the fight for the Fed - What happens to central banks under pressure?Book info. / Subscribe to Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Facebook / Instagram / TikTok / Our weekly Newsletter.This episode was hosted by Kenny Malone and Erika Beras. It was produced by Sam Yellowhorse Kesler, edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Robert Rodriguez and Cena Loffredo. Planet Money’s executive producer is Alex Goldmark. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

Recently, a listener wrote in with a question about OPEC and oil prices. She was prepping for a camping trip… thinking about how much it costs to fill up her diesel-guzzling camper van at the pump. “It would be so awesome if you guys could do an episode explaining OPEC to us,” she emailed us. She wanted to know: why does OPEC exist? Why does it limit the supply of oil? And now that the United Arab Emirates has dropped out, what will happen to gas prices? We love when our listeners write in (and send us voice notes!). The simplest questions can reveal how the complicated web of the economy works.On our latest: we answer our listener’s questions… and the questions behind those questions! Related episodes:• Chevron, Venezuela and the Paradox of Plenty Book info. / Subscribe to Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Facebook / Instagram / TikTok / Our weekly Newsletter.This episode of Planet Money was produced by James Sneed with help from Willa Rubin. It was edited by Marianne McCune, fact-checked by Sierra Juarez, and engineered by Robert Rodriguez. Alex Goldmark is our executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

Today the WNBA season tips off, but Dallas Wings veteran forward Alysha Clark has already won a high-stakes competition. She – and a Nobel Prize winning economist – were on the team that negotiated a ground-breaking contract for the players. And Alysha wrote all about it in her journal.Alysha is the oldest player in the league – and when she started she was making a yearly salary of about $36,400. The players flew economy, the rookies in middle seats. They doubled up in hotel rooms. The league was just starting out, wasn’t bringing in money, and, as Alysha says, “That's just what you got.”Jump forward to 2025 and fans are crowding into stadiums, games are on primetime TV, and the WNBA has a 3.1 billion dollar media rights deal. So when the players’ contract came up for renewal, they had a once in a generation opportunity to change the future for all of women’s basketball. Maybe all of women's sports. Today on the show, we hear Alysha’s minute by minute account of what it’s like to be a rookie doing high-stakes bargaining. It came right down to the buzzer. Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life is in stores now. Subscribe to Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Facebook / Instagram / TikTok / Our weekly Newsletter.This episode was produced by Emma Peaslee and Willa Rubin. It was edited by Marianne McCune. It was fact-checked by Vito Emanuel and engineered by Jimmy Keeley and James Willets. Alex Goldmark is our executive producer.Music: NPR Source Audio - "Nights Like This," "Funk Dive," and "Tropical Heat"See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

Curt Flood was the best center fielder in baseball and one of the game’s highest paid players. He took the St. Louis Cardinals to the World Series three times. Then he got traded to the Phillies. He didn’t want to go. But baseball’s rules said he had no say in the decision. He could either go to Philly or quit the sport. Instead, Flood took Major League Baseball to court.Flood argued that the league should act like any other business and let workers sell their labor to whichever team they liked. But for decades, courts had ruled in favor of the team owners. Curt’s fight would destroy his career and change the sport forever.If you want to learn more about Curt Flood’s story, check out Business History’s original episode. Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life is in stores now. Support: Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Find us on Socials: Facebook / Instagram / TikTok Our weekly Newsletter.This episode was hosted by Jacob Goldstein, Robert Smith and Keith Romer. It was produced and fact-checked by Emma Peaslee. Alex Goldmark is our executive producer. Thanks to Gabriel Hunter Chang and Ryan Dilley at Business History.See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

In the world of commercial publishing, there are few crowning achievements more coveted than a place on the New York Times Best Seller List. But how does a book actually end up there? There is, of course, a playbook that publishers and authors use to try to gin up enough sales at the beginning of a new book’s life to launch it onto the list. But there is also a world of more shadowy techniques – a whole history of hacking shenanigans going back nearly a century.Today on the show, the fourth episode in our series: Planet Money sets out to make the Planet Money book a best seller, and along the way, we uncover all the outlandish strategies that people have tried to hack their way onto the New York Times Best Seller List. There will be mass hallucinations, legal exorcisms, shady book launderers, and scarlet daggers. And we learn the hard way how trying to engineer your way onto the list, just might be the thing that keeps you from getting there.Related:- “Night People's Hoax On Day People Makes Hit With Book Folks” - New York Times: “Jacqueline Susann Dead at 53; Novelist Wrote 'Valley of Dolls'”- New York Times: “Blatty Sue Times On Best-Seller List”- New York Times: “Court Bars A Suit Over Books List”- Bloomberg Businessweek: “Did Dirty Tricks Create A Best Seller?” - Episode 1: Inside a BOOK auction- Episode 2: Our BOOK vs. the global supply chain - Episode 3: BOOKstore Economics- Series: Planet Money makes a book- Laura McGrath’s new book: Middlemen: Literary Agents and the Making of American FictionOur book: Planet Money: A Guide to the Economic Forces That Shape Your Life is in stores now. Support: Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Find us on Socials: Facebook / Instagram / TikTok.Our weekly Newsletter.This episode was produced by Willa Rubin. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Robert Rodriguez and Cena Loffredo. Alex Goldmark is our executive producer. Music: NPR Source Audio - "Quirky Episodes," “Dramedy Scheme,” "Unforeseen Consequences,” and “Impractical Jokes.” See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

It’s way more than fuel costs that pushed Spirit Airlines to the brink of liquidation and led President Trump to muse about “buying” them. Many low cost airlines are struggling due to a canny and calculated set of strategies from bigger airlines that we can think of as ‘revenge of the legacy carriers.’ Today on the show, we go back in time to when Spirit was riding high and pressuring the whole industry to cut costs. We talk with then-CEO Ben Baldanza about his radical vision for cheap air travel and then travel to the present day to hear how legacy airlines beat Spirit and other budget airlines at their own game. Plus, what happens to us passengers if Spirit does go away. Newsletters:Greg’s weekly deep diveThe brand new Indicator link roundupRelated Episodes: People Express and how flying got so bad (or did it?)Book: Planet Money: A Guide to the Economic Forces That Shape Your Life is in stores now. Support: Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Find us on Socials: Facebook / Instagram / TikTok This episode of Planet Money was hosted by Greg Rosalsky, Jacob Goldstein, Zoe Chace and Emma Peaslee. It was produced by Emma Peaslee. It was edited by Alex Goldmark. It was fact-checked by Vito Emanuel and engineered by Jimmy Keeley. Alex Goldmark is Planet Money’s executive producer. See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

Entrepreneur, author, and podcaster Tim Ferriss joins Guy on the Advice Line to answer questions from three early-stage founders. Plus, Tim shares the inspiration behind his latest venture, Coyote—a 10-minute card game that encourages time spent with friends and family.First, Lauryn from San Francisco asks about the best way to scale her biodegradable ear plugs in two very different directions. Then Emily from Kansas City weighs whether DTC or wholesale is where to focus her accessory brand after Taylor Swift wore one of her rings and sales exploded. And finally, Kimberly in Woolwich, Maine wonders how to incentivize her customers to pre-order her high-quality, sustainable, clothing. Thank you to the founders of GOB, EB & Co, and K. Becker Designs for being a part of our show.If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.And be sure to listen to Tim Ferriss’s founding story as told by Tim on the show in 2020. This episode was produced by Noor Gill with music by Ramtin Arablouei. It was edited by Andrea Bruce. Our audio engineer was Cena Loffredo.You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In 1978, Brian Smith quit his accounting job in Australia and headed to California with a surfboard, some savings, and ambition. He figured California was where he’d find an idea or a product to bring back home to Australia to build a business. A year in, he was still looking.But then he saw an advertisement in a surfing magazine for Australian sheepskin boots. Uggs were so widespread in Australia at the time, the name was a generic term - like flip flops - not a brand. Brian was immediately stoked: these boots were virtually unknown in America. If he could get ugg boots for sale in the U.S., they would be a huge success! Almost nobody else agreed.For years, Brian lived on the edge of collapse. He sold boots from the back of his van and worked construction and golf course maintenance jobs to survive. Retailers laughed him out of stores. He lost control of his company twice. At one point, he literally crawled across the floor from stress, ready to walk away forever.And yet…he kept going.What followed was one of the most unlikely brand-building stories in modern retail history — involving surf culture, trademark wars, miraculous timing, brutal financing mistakes, and a product the fashion world initially dismissed.Today, UGG generates more than $2.5 billion a year in sales.You’ll hear how Brian:Turned rejection into problems to solveDiscovered marketing insights that changed UGG foreverSurvived years of cash-flow disastersLost control of the company and regained it a couple of times.Used surf culture to build an emotional connection with customersNearly quit… over and over again…And how he eventually sold UGG to footwear giant, DeckerTimestamps:09:51 Brian's eureka moment that led to the birth of UGG12:41 The first sales trip results in ZERO sales21:10 The mantra that kept Brian going while doing odd summer jobs to survive28:32 Brian gets a critical lesson in marketing…from some 12-year-old kids51:59 Brian’s most effective strategy for retail: the “Six-Pair Stocking Plan”56:42 On track to regain his ownership - Brian hits a huge snag01:01:57 A midnight phone call from Australia saves the business01:11:28 Brian gets the last laugh in the trademark dispute - and acquires a boot factory01:14:54 Pamela Anderson wears UGGs on the set of Baywatch01:23:39 A chance meeting in the Atlanta airport leads to a deal to sell UGGThis episode was researched and produced by Casey Herman, with music by Ramtin Arablouei, and edited by Andrea Bruce.Follow How I Built This:Instagram → @howibuiltthisX → @HowIBuiltThisFacebook → How I Built ThisFollow Guy Raz:Instagram → @guy.razYoutube → guy_razX → @guyrazSubstack → guyraz.substack.comWebsite → guyraz.comSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today’s callers: Kristina in Ohio looks for avenues beyond organic social media to market her furniture designed for toddlers and parents alike. Then Phil in Michigan considers the best messaging to brew interest in his farm-made cherry vinegar. And Caroline in California scouts new ways to cultivate curiosity around her plant-based dog food.Plus, Jeffrey discusses the quiet momentum of social businesses as they navigate ‘greenhushing’ and a polarized political climate.Thank you to the founders of Twenty Five and Pine, Red Truck Orchards, and Petaluma for being a part of our show.If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.And be sure to listen to Seventh Generation’s founding story as told by Jeffrey and his co-founder Alan in 2021.This episode was produced by Sam Paulson with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Jimmy Keeley.You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com or on Substack.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

At 25, Justin Gold was making experimental peanut butter in his home kitchen with a food processor and a stack of recipe journals. His singular obsession: bring new life to a tired lunchtime staple.What started as late-night experiments with honey, cinnamon and banana eventually became Justin's — one of the most influential natural food brands of the last two decades.At first, Justin got rejected by most grocery stores he approached. He worked overnight in a shared industrial kitchen, hand-filling jars one at a time. He couldn’t get a distributor, so he stocked the shelves at the Boulder Whole Foods himself.And when growth stalled… he had an idea during a mountain bike ride that would transform the company: What if peanut butter came in a squeeze pack?In this episode, Justin explains how relentless experimentation and stubbornness helped him build a category-defining brand — and how, with each entrepreneurial milestone, an even more challenging one emerged.YOU’LL LEARN: How Justin reverse-engineered flavored peanut butter in his apartmentHow launching in Boulder gave him a big advantageHow he learned when to listen to feedback, and when to ignore it The deal he made with Whole Foods: “I’ll stock the shelves myself.”How the squeeze pack transformed the business, and why it almost didn’t work The power of naïve persistence in entrepreneurshipTimestamps:00:09:35 — The obsessive recipe experiments that became Justin’s edge00:16:25 — Getting support from Boulder’s startup food community 00:21:28 — Raising $35,000– and shocking his family: “I wanna make peanut butter!” 00:42:51 — The farmers market feedback that changed the product line00:46:56 — Justin talks his way into the first Whole Foods 00:51:47 — Justin’s gets into more stores, but sales start to stagnate 00:53:35 — The mountain bike ride that sparked the squeeze-pack idea 01:19:43 — The brand gets sold, Justin gets fired…and invited backThis episode was produced by J.C. Howard, with music by Ramtin Arablouei.Edited by Neva Grant, with research help from Alex Cheng.Follow How I Built This:Instagram → @howibuiltthisX → @HowIBuiltThisFacebook → How I Built ThisFollow Guy Raz:Instagram → @guy.razYoutube → guy_razX → @guyrazSubstack → guyraz.substack.comWebsite → guyraz.comSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today’s callers: David from New Jersey struggles with self-doubt as he works to grow his muscle-scraping soap brand. Then, Marnie from Australia wants to convince customers that her colorful tick-repellent socks are worth the premium price. And David from New York wants his company to end the practice of throwing away burned out candles. Plus, Sarah recounts rebuilding her brand in the wake of the pandemic and the changing fashion preferences of professional women. Thank you to the founders of Sorsoap, Tick Socks, and Siblings for being a part of our show.If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298. And be sure to listen to M.M. LaFleur’s founding story as told by Sarah on the show in 2020. This episode was produced by Carla Esteves with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Jimmy Keeley.You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

NVIDIA is one of the most valuable companies in human history. Its chips run the AI systems transforming everything from entertainment to warfare. But for years, almost nobody believed in co-founder Jensen Huang’s vision. Jensen spent nearly a decade pouring billions into a technology called CUDA, long before AI made it profitable.In this deeply personal conversation, Jensen tells Guy why NVIDIA’s very first chip was a catastrophic failure … and how at one point, the company was 30 days away from going out of business. Jensen also explains why he thinks fears about AI are overblown, and why he believes the next generation will have more opportunity — not less — because of AI.What You’ll Learn:Why NVIDIA nearly collapsed before becoming an AI giantHow researchers sparked the AI boom using NVIDIA gaming chipsHow to lead through uncertainty when a huge bet hasn’t yet paid offHow Jensen approaches hard decisions like an engineerWe’re “doing ourselves a disservice” by being afraid: Jensen on AI and job lossHow Jensen defends his demanding management styleWhy past failures still haunt himKey Moments From the Interview:00:07:51 — Jensen Huang’s childhood at an unusual Kentucky boarding school00:14:50 — Why Jensen left a stable career to help start NVIDIA00:17:14 — NVIDIA’s first failure: the NV1 disaster00:19:51 — The desperate trip to Japan that gave the company a lifeline00:23:11 — “The only idea we had” for prototyping: the emulator Hail Mary00:30:53 — The book that shaped Jensen’s thinking about innovation00:35:04 — Why NVIDIA kept investing in CUDA while Wall Street lost faith00:41:38 — The moment AI researchers discovered the power of NVIDIA’s chips 00:53:17 — Jensen on fear of job loss from AI, and why America risks falling behind01:01:56 — Knowing what he knows now, would he do it again? Yes — and noThis episode was researched and produced by Alex Cheng with music by Ramtin Arablouei. It was edited by Neva Grant. Our engineers were Patrick Murray and Robert Rodriguez.Follow How I Built This:Instagram → @howibuiltthisX → @HowIBuiltThisFacebook → How I Built ThisFollow Guy Raz:Instagram → @guy.razYoutube → guy_razX → @guyrazSubstack → guyraz.substack.comWebsite → guyraz.comSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today’s callers: Kristina in Florida wants to take her local pottery workshops nationwide. Then Jim from Colorado wonders if retail is right for his quick release camera straps. And Will in Ohio hopes his business will change what consumers expect from tool rental services. Thank you to the founders of Seagrass Pottery, Lemur Strap and Tool Club for being a part of our show.If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298. And be sure to listen to our episodes with Chieh Huang of Boxed, Hernan Lopez of Wondery and David Neeleman of Jet Blue. This episode was produced by Kerry Thompson with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Cena Loffredo.You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com or on SubstackSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

John Gabbert built a massive furniture brand. But in order to do it, he had to defy his family. John grew up working at his dad’s furniture store in the suburbs of Minneapolis. It sold classic, American-made furniture, with flowery prints and curved legs. But in 1972, John took a life-changing trip to Sweden, where he discovered an obscure store called IKEA. It was selling an entirely different type of furniture: simple, modern, and inexpensive, with a manufacturing process they controlled. To John, it looked like the future of furniture. The only problem, his dad didn’t agree. That disagreement led to a 10-year family rift—but also a new business. In 1980—zafter a deal to buy out his dad broke down—John spun out his own furniture brand, Room & Board. Today, it sells hundreds of millions of dollars of furniture in its own classic designs, mostly made by small American manufacturers. This is the story of how John did it, without outside investors, and without chasing growth for growth’s sake.What You’ll LearnWhy the right thing for your business might be the hardest thing for your familyHow John connected with young boomers—not their parents The key to long-term success: growing slow and saying “no”Why John refused private equity moneyWhy Room & Board transitioned to employee ownershipTimestamps:00:06:10 - Gabberts: flowery furniture in a fake living room00:09:41 - Becoming president of the family business at age 2300:13:33 - A fateful trip to IKEA in Sweden: “That's what the future needed to be”00:18:36 - John tries to buy out the family business… until his dad backs out00:35:47 - Design inspiration from modern art—and steel frames00:46:38 - Why making furniture in America makes sense00:55:27 - Investors come to call… and John says no01:01:48 - The decision that transferred ownership to employeesThis episode was produced by Chris Maccini with music composed by Ramtin Arablouei. It was edited by Neva Grant with research help from Rommel Wood. Our engineers were Patrick Murray and Kwesi Lee. Follow How I Built This:Instagram → @howibuiltthisX → @HowIBuiltThisFacebook → How I Built ThisFollow Guy Raz:Instagram → @guy.razYoutube → guy_razX → @guyrazSubstack → guyraz.substack.comWebsite → guyraz.comSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today’s callers: Anthony from Miami considers the best method to grow his pop-up outdoor movie theater business. Then Andrew in San Francisco asks how to set his cat wrestling toy apart from competitors. Finally, Melissa in Massachusetts seeks strategies for getting busy parents excited about her healthy frozen muffins. Plus, Jonah shares what’s next for Buzzfeed as the company marks 20 years of business.Thank you to the founders of Motion Flix, CATSUMO, and Unrefined Foods for joining us on the show.If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298. And be sure to listen to Buzzfeed’s founding story as told by Jonah on the show in 2017. This episode was produced by Katherine Sypher with music by Ramtin Arablouei. It was edited by Casey Herman. Our audio engineer was Kwesi Lee.You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Gregg Renfrew started a movement by making better-for-you cosmetics, then enlisted an army of women to build the business through direct sales. But after selling Beautycounter, she was pushed out of the company she created.Then she got to do something almost no founder gets to do: She bought her company back. Then lost it again. Then took the risky step of rebuilding it into a new brand, now called Counter. This is a story about ambition, humility, and second chances. Gregg learned her first lessons by launching an early online wedding registry and selling it to Martha Stewart. She briefly led a clothing company and was summarily fired—by messenger.In this candid conversation, Gregg talks about the bold innovation she brought to the beauty industry, and the lessons she learned from working with difficult people—including, at times, herself. What You’ll Learn:How to build a movement—not just a productThe hidden risks of “growth at all costs”Why direct sales (done right) can outperform traditional DTCThe emotional toll of being fired from your own companyHow to rebuild your identity after losing your businessWhat it takes to come back—and do it differently the second timeTimestamps:(00:06:15) – Selling Xerox machines and getting doors slammed in her face(00:08:09) – The early inspiration for an online wedding registry.(00:16:44) – The brutal lesson of the dot-com crash: “growth at all costs”(00:21:58) – Standing up to Martha Stewart: “I was cocky.” (00:23:51) – Getting fired as CEO… by messenger… in front of her team(00:32:47) – The moment she realized the beauty industry had a massive gap(00:35:25) – “Clean beauty didn’t exist”—and why that made it so hard(00:47:04) – Building a 60,000-person sales force, scaling to hundreds of millions in sales(00:46:40) – Selling Beautycounter for $1B… and losing control months later(01:00:13) – The emotional aftermath of being pushed out—and what came nextThis episode was produced by John Isabella with music composed by Ramtin Arablouei. It was edited by Neva Grant with research help from Noor Gill. Our engineers were Patrick Murray and Jimmy Keeley.Follow How I Built This:Instagram → @howibuiltthisX → @HowIBuiltThisFacebook → How I Built ThisFollow Guy Raz:Instagram → @guy.razYoutube → guy_razX → @guyrazSubstack → guyraz.substack.comWebsite → guyraz.comSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today’s callers: Barbara in Massachusetts wonders how her nutrition education theater company might live on past her own involvement. Then Jeff in Illinois looks to carry the momentum from his Ninja Warrior-inspired gyms to form a professional league around the sport. And Vince in Virginia weighs the risks from introducing new SKUs for his men’s organic underwear brand.Plus, David breaks down the resource management necessary to keep an airline aloft as rising fuel prices grip the industry.Thank you to the founders of FoodPlay Productions, Ultimate Ninjas, and Gotchies for being a part of our show.If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.And be sure to listen to JetBlue’s founding story as told by David in 2019.This episode was produced by Sam Paulson with music by Ramtin Arablouei. It was edited by Casey Herman. Our audio engineer was Kwesi Lee.You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com or on Substack.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In the late 1990s, Shep and Ian Murray looked at a shrinking category–men’s ties–and saw an opportunity: a necktie isn’t just functional. It’s expressive. It can signal identity, taste, aspiration. With no fashion experience and no outside investors, the Murray brothers started making colorful ties inspired by their childhoods in Martha’s Vineyard — tiny whales, sailboats, island street signs. What began as a small, improbable tie business grew into Vineyard Vines: a half-billion-dollar lifestyle brand with more than 100 stores and major department store distribution. In this episode, Shep and Ian talk about why they quit their stable jobs to turn a sleepy product into a national brand, which began as a family business and remains so to this day. What you’ll learn: Why a great business can start in a category that everyone thinks is dyingHow to build distribution when you have no roadmap and few connections What bootstrapping teaches founders that outside capital often doesn’tHow improvised marketing can create outsized attentionKnowing the difference between a fashion brand and a “brand” brandTimestamps: 00:10:22 - The brothers both hate their desk jobs: “How was your day?” “It sucked.” 00:11:20 - Vineyard Vines starts on a family trip, with a nudge from a hotel manager00:13:46 - Early designs: whales, fish, jeeps, street signs 00:25:39 - Finally quitting their jobs– they’re thrilled, their parents–not so much00:30:42 - Landing their first order for $1800. “We’re never gonna have to work anymore!”00:34:40 - The brand gets a boost from a PR stunt during the Clinton-Lewinsky scandal00:47:00 - The “Get to $5 million” mentor advice that kept them focused 00:49:23 - The brothers open their first store - and realize they have a lot to learn 01:01:18 - The 2008 financial crisis, and the brutal inventory decisions that help save the business01:09:06 - Why stepping back from the CEO role didn’t work — and what it taught them about brand cultureThis episode was produced by Kerry Thompson with music composed by Ramtin Arablouei. It was edited by Neva Grant with research help from Casey Herman. Follow How I Built This:Instagram → @howibuiltthisX → @HowIBuiltThisFacebook → How I Built ThisFollow Guy Raz:Instagram → @guy.razYoutube → guy_razX → @guyrazSubstack → guyraz.substack.comWebsite → guyraz.comSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.