The Best One Yet - ❤️ “Bitcoin’s Empathy Moment” — Ukraine’s crypto-raise. AMC’s Batman pricing. Whole Foods’ slowest move.

Episode Date: March 3, 2022

Ukraine just pulled an unprecedented move in the history of War - Raising $35M in cryptocurrencies to finance its resistance. If you want to see Spiderman this weekend it’ll cost you $10, but Batman will cost you $15… because AMC is bringing surge pricing to movies. And after 5 years, Amazon is finally doing something with Whole Foods: “Just Walk Out” Tech.$BTC $ETH $AMZN $AMC $RBLXGot a SnackFact? Tweet it @RobinhoodSnacks @JackKramer @NickOfNewYorkWant a shoutout on the pod? Fill out this form:https://forms.gle/KhUAo31xmkSdeynD9Got a SnackFact for the pod? We got a form for that too:https://docs.google.com/forms/d/e/1FAIpQLSe64VKtvMNDPGSncHDRF07W34cPMDO3N8Y4DpmNP_kweC58tw/viewformLearn more about your ad choices. Visit podcastchoices.com/adchoices Hosted on Acast. See acast.com/privacy for more information.

This is Nick. This is Jack. And this is Snacks Daily. It is Thursday, the new Friday, March 3rd. Nick, what did the Dow do on Tuesday? Jack, it fell 600 points. What did the Dow do yesterday? I actually jumped 600 points.

Even, Stephen? Call it even? I'm calling today's pod the best one yet. Jack, classic TBOY. What's our first story today? Do the digits 357 A3S mean anything to you, Nick? They don't. But apparently, those are the first six digits in Ukraine's government crypto wallet.

And people have sent Ukraine over 35. $5 billion in crypto donations in just a week. Okay, that's our first story. Jack, second story. If you want to see Spider-Man in the theaters right now, it's going to cost you $10. Yeah, but if you want to see Batman, that's going to cost you $15. Because AMC theaters has brought dynamic pricing from airplanes to movie theaters. Third and final story, what do we got, Jack? Five years ago, Amazon acquired Whole Foods.

It's done nothing with it. Nothing until today. Whole Foods is finally getting something, and that something is just walk. out. Wow. Great mix of stories. Before we hit them now, I just love this mix today, Jack. It's so good. Tomorrow is the first Friday of March. Yeah, which means that the government's monthly job support is going to whip right out for us. We're going to see how many jobs are created in February. We are. But there's only one job people are talking about right. Snackers, there's only one job that we want to talk about right now. Babysitters. Babysitting because babysitting prices,

they've searched to record highs. This is Econ 101. More parents than ever need somebody looking after with their kiddos. Increased demand means babysitters are cashing in like investment bankers. According to Urban Sitter, which apparently studies this stuff, high tech. The national average for a babysitter is 20 bucks an hour. Here's the thing. Down in San Antonio, babysitters are going just for 14 bucks an hour. In New York City, they're doing 23 bucks an hour. I believe they were called themselves, Opares. Babysitting prices have risen 11% in the past year.

Snackers, you want to beat inflation? Become a babysitter. If you're a vaccinated babysitter, You're charging a premium, apparently. Jack, how about if you speak French? Plus de monies, please. Jack, how bad if you're a babysitter who's teaching math? If you can teach the kid math, the parent will give you a company card. Jack, even a Facebook engineer, they would suck a babysitting job right now.

Goodbye, Goldman Sachs, hello weekend babysitting. Didn't Alex used to babysit? What kind of numbers was she thrown up, Jack? Nick, she was a beast of Long Island babysitting. She had business cards made. The only babysitter who was accepting Bitcoin for babysitting. One client told Alex when she was like, I don't know how old, that she should price more. And guess what Alex did?

What did she do? She priced more. Alex was ahead of her time before the Venmo time. Que the babysitting blame. Let's look after our three stories. From 6 to 9 p.m. Does that work for you? You're tuned in the snacks daily. We spoke to the lawyers and we got to get something legal out the way.

The snacks about to hear ain't food. It's air candy. They don't reflect the views of the robberhood family. It's all informational just so. We're not recommending any securities. Nope. It's not a research. report or investment advice.

Not an offer or sale of a security. Right. Snacks is digestible. Business news for you. Robberhood Financial, LLC, member Fenra slash SIPC. For our first story, Snackers, remember when Bitcoin fell as Russia invaded Ukraine? Yep. Well, Bitcoin's price just jumped 25% since then.

Because crypto is having a global empathy moment. Bitcoin is having an empathy moment. Jack, can you whip up the theme of the week for us? us over there besides like the absolute courageousness of Ukrainian resistance. Yes, it's sanctions from the United States and its allies, which have weaponized finance against Russia. Which leads to the question, Snackers, how is finance affecting Ukraine? Ukraine doesn't need financial weapons. No, they don't. They need to finance some weapons. Exactly. Ukraine doesn't need weaponized finance. They just need to finance their weapons. So Ukraine did what governments do in these moments. Exactly. They issued war bonds.

The classic traditional way a country raises money during times of war. Ukraine's government sold IOUs to patriotic investors. Right. Just like we did, Jack, in World War II, the U.S. did the same thing. So Ukraine was able to get 270 million in new funding through the issuance of war bonds this week. Now, that was kind of expected. But then there was a surprise because Ukraine also tried one untraditional method of raising money. Crypto. Exactly. Ukraine went for crypto. Jack, I don't remember. the chapter on Ethereum in Sun Tzu's Art of War. That's why Ukraine's heroic defense against Russian invaders has led to Bitcoin's Empathy Moment. Now, Snackers, here's what Jack and I found

fascinating about this story. The crypto community, they couldn't have scripted this any better. Bitcoin's empathy moment began with a tweet. It began with a tweet. Only thing better would be if it began on Reddit. Ukraine's official verified Twitter account tweeted last week the address to their crypto wallet and asked the world to send donations to help them resist Russia. This is like you basically putting out publicly your Venmo username and then saying, I'll accept cash from anyone. Except it wasn't me. It was Ukraine. Exactly. Who like the whole world wants to help right now. And Ukraine's not just accepting Bitcoin and Ethereum. They're even accepting meme coins like Dogecoin to fund their troops. 35,000 individual contributors

have donated over $35 million through this tweet. with crypto. We repeat, Ukraine's government raised $35 million worth of crypto in just a few days, unprecedented. And it's an empathy moment for Bitcoin because fast, easy support for Ukraine was made possible to anyone in the world thanks to blockchain. Now, perhaps on this positive publicity, Bitcoin has jumped 25% since the invasion started. Now, context is key. Ukraine raised 270 million through the war bonds. That's several times more than they raised through crypto. But the power of decentralized finance is on display for the world to see and it's being used for good. The story doesn't end there.

Ukraine didn't just ask for donations on Twitter. No, Ukraine went further. Ukraine asked eight crypto exchanges to ban Russians from doing transactions in cryptocurrencies. The crypto platforms declined that request with one of the platforms saying that would go against their libertarian values. Which leads to our takeaway. So, Jack, what's the takeaway for all of our buddies donating? crypto. This is Bitcoin's empathy moment, but Russia could undermine it. Snackers, thanks to those sanctions, Russia can't transact through conventional Western financial channels like it used to.

And for that reason, the ruble is worth less than a penny rate. The ruble is actually worth less than a Roblox, Robux right now, which is literally video game money. Under those stressful financial conditions, where might Russians turn? Crypto. Now, major crypto platforms are saying they will comply with Western sanctions against Russia. But officials and experts are concerned that Russians can find a way to evade sanctions by going through cryptocurrencies. Today, we're talking about crypto helping Ukraine. Tomorrow, we could be talking about it helping Putin. Ukraine is Bitcoin's empathy moment, but Russia could undermine it.

For our second story, call up Alfred, AMC Theaters is testing search pricing with the Batman. Are the latest Batman's yelling like Christopher Nolan's Batman's used to? You just get this guy a loss and you would have solved the whole thing. Snackers, this is all about finding the customers, willingness to pay, the old WTP. All right, we've all been there. You get to the movie theater with some friends and you want to watch Batman. Your $16 bucks is ready to go to pay for the ticket.

You're going to splurge on the popcorn. You're going to have an evening to yourselves, maybe some junior mints. And then you see on the sign, Batman's sold out. The only thing showing with available tickets is Hot Tub Time Machine 2. It's like a prequel. It's actually a sequel. Oh, God. Great.

It's a sequel. But nobody wants to watch it. But you're like, guys, we're here. Let's watch. Yeah, you end up watching. And Snackers, this isn't just a social catastrophe. This feels like a market failure, Jack. Why do you have to pay the same price for Hot Tub Time Machine 2?

A prequel. As you do for Batman. Well, you don't because AMC is introducing variable pricing. AMC just announced variable pricing is coming to AMC theaters. Now, Snackers, you've seen variable pricing before. You know variable pricing from the airlines. It's not just one price for whatever ticket. No, no, no.

It's 138 to Chicago, but 600 to L.A. And you've seen it with hotels. 600 for an Ocean View Queen Suite, 500 for a courtyard view. And to go to both those places, you may have experienced some Uber surge pricing. 700, if it's Memorial Day weekend. Well, now that same concept of variable pricing,

it is spreading from the hospitality industry to the entertainment industry. Starting this weekend with the Batman, which comes out today. It's the pricing Gotham deserves, but not the pricing it needs right now. Snackers, the Batman is not to be confused with Batman. No.

Batman Forever. Batman returns or The Dark Night. This is the fifth man to play Bruce Wayne. But I don't know. Who's counting, Jack? This time it's Ryan Packett. It is. Who's really moved on from his vampire. He has. He's still a little gauthy, but, you know, he's got the chest and the biceps for it. And Zoe Kravitz from Big Little Ice.

When you see him together, it looks like they're starting a band. But it works. It still kind of works. Now, AMC is experimenting this weekend by charging more for, certain movie tickets compared to others. And the kind of movie tickets that are going to see higher pricing, it's whatever is given off premium vibes. For example, blockbuster movies, they're going to have higher prices with this experiment from AMC. Exactly, Jack. Batman tickets have higher demand, so they're going to get higher priced tickets. You might also see new releases priced high. Batman is going to be pricier this weekend, but it's going to come down in price in a couple weeks,

probably when another new release hits. And AMC is also charging higher for weekend. tickets. Exactly. They were actually already doing this, right, Jack? Right. They charge more for a Saturday matinee than they do for some Rando Tuesday. It doesn't just stop there. Remember, we said premium vibes. So we're hearing that some AMC tickets also include a butt rumbler. A butt rumbler. If you reserve a ticket early, you can get a seat that includes a butt rumbler. Yes. So you can actually feel the Christopher Nolan movie. That's the movie theater equivalent to extra legroom. Business class of blockbusters. And guess what? Yeah. You're paying more than a normal ticket.

So, Jack, what's the takeaway for our buddies over at Batman? Companies tested your willingness to pay. Now they want your entire willingness to pay. Jack, what do economists love more than anything else in the world? Auctions. Octions. Because the winner of an auction is the person who is most willing to pay. Economists love them.

Economists think that auctions are efficient for that reason. But most of the market that we live in is not an auction. No, that's simply the one price everyone pays for the same thing. For some people, that price is exactly what they were willing. willing to pay, which is perfect. But for others, that price is way too much. Maybe you're not a Joker fan. You're not going to go to the movie because it's too expensive for you. Or maybe the price that they end up paying is way too low. You may be a catwoman fanatic and gladly would have paid double for a ticket. Exactly. Variable pricing, it lets AMC get closer to each customer's

WTP. Willingness to pay. Because you either die a hero or you live long enough to see yourself become the villain. For our third and final story, the Amazon modification of Whole Foods is finally here. Whole Foods just opened their first grocery store with just walk out technology. What? Took so long. 2017, Amazon dropped a hefty $14 billion to acquire Whole Foods grocery stores. Isn't that the price of a standard Whole Foods visit?

Jack, one second. I'm just looking at the receipt right now. Farm raised chicken, two coconut waters, a cauliflower, pretty close to $14 billion. Amazon bought Whole Foods and did nothing with it. Amazon just like didn't seem to innovate the Whole Foods brand at all. The only thing we saw was like more varieties of almond butter, but that wasn't even Amazon. Were there more varieties of almond butter? I mean, I just get maple every time.

All we did see was 10% discounts for Prime members who go to Whole Foods. Honey, the asparagus is $8 now. In theory, Amazon could have used the 500 Whole Foods locations as like useful distribution, return and refund logistics centers. We keep going to Whole Foods, but we hadn't seen evidence of that. But then this week happened. Boom, Amazon has just added Just Walkout technology to the Whole Foods in D.C., one particular. The one in Glover Park.

And the Whole Foods in Los Angeles is getting Just Walkout technology next. Now, Snackers, last year, Jack and I covered the first Amazon Just Walkout store on 59th in Lex. We visited this one. It was an experience. We picked up three kind bars. Yeah. We got an OJ. And we left without any human interaction or contact whatsoever.

You feel like a thief. So it's thrilling. It's concerning, but then it's okay. It's a super softcore way to get an adrenaline rush. Also, Amazon has licensed out this technology to other retailers, which don't have the Amazon brand. We covered this on the pod. You know those Hudson Books convenience stores at some airports? $14 water is familiar with it.

A couple of them are going to have Just Walkout technology. So you can get that $14 water and go without having to wait and want. Now, the actual Amazon Just Walkout product, the technology, it's basically just hundreds of cameras and sensors that are above you in the store staring at you. Those cameras and sensors, they're going to know exactly what item you grab. They actually can tell, even though the avocados look the same, if you picked up the organic one or the inorganic avocado. And then, because you scanned your phone at the beginning, you can just walk out. That's it. No waiting in line, no paying somebody at a cashier. Yeah, as you're walking around the store, you're bag and stuff

up in your bag and then you go. That's it. You get an email about an hour later showing that the charges were charged to your Amazon Prime account. And now that technology is coming to two Whole Foods. That is time-saving technology. And like we're all in a rush. Oh my God, Jack, at the end of every grocery store run we do, you spend like five to 10 minutes. You're basically just perusing magazines at that point.

Is that a Cosmo? It's annoying. It's unnecessary, especially when you could just be walking out. And soon, you could just walk out maybe at all 500 Whole Foods locations. But Snackers, here is the big question that Jack and I were wondering. and frankly, this is what's been bothering us about this. Amazon's had this cashierless technology for over four years. So what took Amazon so long to bring this technology to Whole Foods stores?

Whole Foods, the obvious place where this technology should have ended up. So, Jack, what is the takeaway for our buddies over at Whole Foods? Move slow and test things. Snackers, the legacy of Jeff Bezos at Amazon, it can be summed up in a few values. This is one of them. Experiments take time, but experiments are valuable because they have. ensure success when you launch. Yeah, it turns out Amazon invests years into failing experiments so that a new idea eventually launches and can be a success.

That's why Amazon plays opportunities so slowly. So slow. Or is that New York Times journalist put it, Jack, Amazon moves in long time horizons. It's a marathon, not a sprint, basically. Snackers suck inspired Silicon Valley with move fast and break things. Amazon operates with the opposite. Yeah, move slow and test things. Jack, can you whip up the takeaways for the day before the day before your birthday?

Did you think I forgot? You think I would forget? Snackers, Ukraine, received over $35 million in crypto donations. It's Bitcoin's empathy moment, but Russia could undermine it. For a second story, AMC Theaters is testing out variable pricing with The Batman. The Batman, because it wants your entire willingness to pay. A third and final story is about Amazon. Yeah.

They're finally Amazonifying Whole Foods. Move slow and test things. Now, time for our snack fact of the day. This one sent in by Olaug Perchik from Kalush, Ukraine. The deepest subway station in the world. It's in Ukraine's capital city. Yeah, Ukraine's capital is home to the deepest subway in the world. The metro station closest to the core of the earth.

The Arsenalis station requires four minutes to get all the way down there by taking two separate, very long escalators. Yeah, and you're going to go 340.4. six feet deep, which means your ears are going to pop at least a couple times. You are deeper than the Statue of Liberty is tall. But here's the thing, Snackers, this deepest subway in the world in Ukraine, it's being used as a bomb shelter right now. Another reminder to think about Ukraine. Snackers, you look fantastic for the new Friday.

If you haven't yet, get a babysitting gig. If you also haven't yet, you can click to follow us right here on Spotify app. Nick and I will see you tomorrow. Can't wait. And before we go, happy. Happy birthday to Jack, I'm just going to turn the honors over to you. Happy birthday to Alexandra Kravichie Kramer, my beautiful wife, who is born by the sea but lives in the mountains. Alex, celebrate the win.

Oh, we're going to celebrate the wins this weekend. Alex knows how to make a slam and salmon dinner dish. She knows how to make this slam and salmon happy. And happy birthday to Griffin Shwed, the Fieldsend Eagle of the Upper West Side. And happy birthday to Laura Lakito from Jakarta, Indonesia. And Roni Yadee, turn in 40 and Sunday. Coronado, California. Happy birthday to Maria Cruz in Puerto Rico.

And Chris Johnson in Plano, Texas. Happy 33rd to Taraschina on 3-3, who's also getting an MBA. And Susan Hanson, congrats on being the first female hospital pharmacist in Maine, but retiring after 40 years. We're going to miss you. Big, successful career from Susan. And Dale Handford, congrats on the residency in Dayton, Ohio. Congrats to Ziyomara Ruiz Baez, who just got voted vice chair in Orlando.

And Ron Atlanta, happy 38th wedding anniversary in Michiwaka, Indiana. This guy, Josh Garalski, yeah. 11 years ago, he donated one of his kidneys to save a life. Thank you, Josh, and thank you, Kidney. And thank you, Chicago, Josh's hometown. This is Jack. Nick and I both own some Bitcoin and Ethereum, and I own stock of Amazon and Roblox. Robin Hood Snacks, Newsletters, and podcasts reflect the opinions of only the authors,

who are associated persons of Robin Hood Financial LLC, and do not reflect the views of Robin Hood Markets, Inc., or any of its subsidiaries or affiliates. They are meant for informational purposes only and are not a recommendation to buy or sell any security, cryptocurrency, or investment strategy in any account. This is not an offer or sale of a security, not a research report, and is not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Robinood Markets, Inc., Robinood Financial LLC, or any of their subsidiaries or affiliates.

All investments involve risk, including loss of principle and past performance, does not guarantee future results. Robin Hood Financial LLC, member FINRA SIPC. Honey, the asparagus is $8 now.