I hate to agree with you, but that is a pretty sizeable math error.
The funny thing is that even if you use the wrong technique to
calculate the percentage, 366% is still the wrong number. I can't
even figure out how they arrived at that number.

Why is it wrong and what is the correct procedure to calculate the
percentage increase? Just curious!

I missed the speech, or statement, so I do not know whether Phil Boyer
actually made such an error--but it is a common one.

The correct procedure is to divide the final value by the original value,
subtract 1.00 from the quotient, and then multiply the result by 100 in
order to express it as a percentage.

The common error is to neglect the subtraction step, resulting in an answer
which is 100 too high--for example 366% when the correct result is 266%.

Bottom line: Phil Boyer's point was well taken, despite the math.

Peter