The Best One Yet - 🍣 “Crypto’s sushi club” — InstaTikTok’s subscriptions. Peloton’s missing leg. NFT’s 1st restaurant.

Episode Date: January 21, 2022

NFTs are digital, but a new restaurant is serving physical sushi based no digital assets (and you gotta know a guy). Peloton stock is now at an all-time low — it’s like the pandemic surge of bike sales never happened. And Instagram is zucking TikTok (or is TikTok zucking Instagram?) because creators are the differentiator of social media.$ETH $BTC $PTON $AMZN $FBGot 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.

Actually, I think there's someone at our door. Oh, you know what that is? You know who's at our front door? Cold belly? The Momofuku. Yeah. The Bosaan pork shoulder. So much pig that I'm like already full.

Fine product. It's a fine product. I wish you could be here for it. You should just show up as a surprise and bring chili sauce. I'm going to send my hologram. Jack, this pork shoulder's so big. You got to lift with your legs, not with your back. Here we go.

Three, two. This is Nick. This is Jack. And this is Snacks Daily. It is Friday. The Real Friday. January 21st. Today's pod is the best one year.

It is by far the greatest podcast, Jack and I've ever put together for you, Snackers. Jack, what's our first story? Want to know how similar TikTok and Instagram have become? Yeah, please, how similar, Jack? They made the same announcement on the same day. Snackers, prepare for subscription Instatikram talk. For our second story, the world's first NFT restaurant is coming to New York City. Here's the deal.

To get real sushi, you got to join a digital club. And for our third and final story, Pelton stock fell 20. 25% to an all-time low after a truly damning report. The pandemic, it has officially become net negative for Peloton. Never thought I'd see the day. Are we going to sell our Peloton stock, Nick, live on this podcast? Has anyone ever done that on a podcast? If we did that, Jack, do we still have to disclose that we own Peloton stock at the end of the podcast?

No. No, I guess we don't. Although we'd say we owned it at the beginning of the podcast. On that planet to do it. Yeah, we won't do it. We'll continue on with the pod. Unless you want to sell it. I don't want to do it.

I don't want to do it. You know what's the worst? What? Not Peloton stock. Gravity. Gravity. I thought you were going to say something else. But yeah, gravity.

Gravity's the worst, Jack. I hate gravity. It is so needy. It holds us back. I mean, literally. Gravity is holding you down right now. Like professionally, emotionally, physically.

You know who's sick of gravity? Tom Cruise. He's sick of every 9.8 meters per second square out of it. Tom Cruise, he's looking in the mirror. like, hey, I'm making movies. I'm jumping in the air. And then, you know, gravity's dragging me back down again every single time. So Tom Cruise is making the first movie ever filmed in space. Get this, Snackers. According to CNBC, the studio that is doing that Tom Cruise film in space is building a permanent film studio in space. It's not called Universal Studios, but this is

literally a universal studio. They're calling it like space entertainment enterprise, something like that. Not a great name. Could be a better name. sticking this studio onto the International Space Station like it was a pimple by 2024 is the plan. It's not going to be powered by lithium ion batteries. It's going to be powered by Tom Cruise's ego. This intergalactic studio, it's a lot like Disney, but a lot more waivers you need to sign. Jack, are you picturing that scene from Mission Impossible where like Tom's hanging and like he's trying not to touch anything? So he's being really quiet. Don't move. Don't sweat. Oh my drop.

It's going to be a lot easier to film that scene when you're at, you know, in orbit. He could sleep. and film that scene from outer space. Gravity, it's the worst. You may as well put a film studio up in space. Let's hit our 9.8 story square. You're tuned in to 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. It's not a research report or investment advice. Not an offer or sale of a security.

Right. Snacks is digestible. Business. for you. Rob her financial LLC member Fenra slash SIPC. For our first story, TikTok and Instagram both just announced the exact same thing on the exact same day. Subscriptions. Subscriptions. Subscription. Because the only differentiator between Instagram and TikTok right now is the one thing they can't control. Let's turn things over to Instagram head, Adam Osseri, who made an announcement on Wednesday via Instagram, you know, about Instagram. It was an awkward

start. He said, as you know, on Instagram, we're going to build primarily for teens and creators this year. Awkward because teens are on TikTok and Snapchat, they're not on Instagram. And awkward because creators are on TikTok and YouTube, not as much on Instagram. So this announcement was focused on the creators and it was all about subscriptions. The big ass word. Here's the deal. Influencers can now post content on Instagram that only their paying subscribers will be able to see. That is right. Grab the plants because Instagram influencers are building a little gated garden around their good stuff. Now, only 10 creators are invited.

This is a super small test because Instagram likes to test things out before rolling it out to everybody. Very elite. There's like the Alpha Squad. And they're going to choose a price for their super special secret videos of between $1 and $100 a month for you to watch. And then these 10 creators can designate

that this Instagram Live I'm about to do, I only want my paying subscribers to be able to see it. It's only for my special friends. But Snackers, before you grab, your credit card and feel like you have to delete Instagram. Again, you don't have to pay for Instagram. No, if you want, you can keep using it for free. You'll be fine.

Absolutely. But just so you know, the top creators can decide to charge subscriptions to their followers if they're going to have some very special super secretive posts. So you can keep not paying for Instagram, but you might not see that really nice post that Cardi B decided only her secret subscribers will see. Yeah, only if you're paying the Cardi B. bucks. And if you do become a Cardi B subscriber on Instagram, and then you decide to DM her because you're a super fan. Guess what? Cardi will know that you're a super fan because of this purple badge next to your

username. Now, the blue badge has always meant that you're a verified person on Instagram. But now the purple badge means that you're a paying Cardi B super fan. And if Cardi B knows that you're supporting her? Maybe she does. You might be more inclined to DM you back. She might even be listening right now. Funny thing, though, Snackers. Jack, can we talk about the timing on the right now. Yeah, TikTok on the same day, Wednesday, confirmed that they're testing the same thing basically in the same exact way as Instagram is. Someone zucked the other one, but we don't know who. So, Jack, what's the takeaway for our buddies over TikTok and Instagram? Social media apps. They're all the same now. Creators are the only differentiator. Yeah, Snackers, TikTok,

Instagram, Facebook, Snapchat. They are commodities these days like oil. They all have posts. They all have stories. They all have videos and they all have text. Was that funny thing I just watched? Was it reels or was it a TikTok? I have no idea. Did that person announce they had a baby on Instagram or is it a tweet? Jack, it is one big Zuckfest out there. Everyone is just copying every other social media platform.

The crucial differentiator between the social media apps right now is the one feature they can't control. The creators who actually post the content. Which is why every social media app is courting creators trying to become their platform of choice. YouTube attracts creators. by giving them 50% of the ads made on the videos. Yeah, Snapchat, Instagram, and TikTok. They're creating huge funds of cash and just giving it to the top influencers who are going to post on their platforms. And now they're all letting creators charge subscriptions to.

Because when social media becomes a commodity, creators are the only differentiator. For our second story, the world's very first NFT restaurant is coming to New York City. Crypto. It could be more physical than you realized. Okay, so Jack, I'm looking at this. Honestly, we had Chinese last night. We had pizza the night before. I'm craving some NFTs. I'm really craving some NFTs. Side note, I had tuna last night and salmon tonight. Back-to-back seafood. I got to stick a thermometer in you. Check those mercury levels, man. Perfect timing, though, Nick. You're looking for some NFT. Flyfish club is coming to New York City next year. The first ever NFT restaurant, they happen to be serving sushi. Launched by legendary entrepreneur Gary Vaynerchuk, who loves beanies, content, the New York Jazz. and PR. Now, we said NFT and restaurant.

NFTs, those are like digital board apes, pixelated portraits you see on Twitter. You can picture them, which leads to the question, how are you going to eat a salmon roll of pixels? Right. Is this like virtual real estate? Is there virtual California rolls

that you're eating in the Metaverse? Is that what this story is about? Jack, the Edomami NFT, it looks great, but like, do I lick the screen? Like, what's going on over here? The answer, Snackers, is no. The first NFT restaurant is almost 100% physical. Not digital at all.

Jack and I jumped in snacks style. We were kind of shocked by this. First of all, the location of this NFT sushi restaurant is physical. It's called the Fly Fish Club. It's not built yet, but it will be designed and constructed by a leading architect in one of the most beautiful buildings in New York City. And the food in this NFT restaurant is physical. It's not coded by an engineer.

You don't need to convert the JPEG to PDF. Nick, this raw fish, it's flown in from Japan. Even the payment is physical. in an NFT restaurant. It seemed like a no-brainer to only accept Doge or Ethereum, but you actually pay in U.S. dollar at this restaurant. You want the omicasse? You're paying in real American dollars.

The one thing that's NFTE about this. Yes, I just said NFTE. Yeah. Is the ticket to get in. Yeah, Snackers. Only members can enter the NFT sushi restaurant. And only people with the NFT are the members. Flyfish is selling right now 3,000 tokens.

for a price of 2.5 Ethereum each. And each one of those tokens is a membership card. It gets you and like 2,99 others access to the place for dinner. Now, they're selling the tokens right now and proceeds from the sales of those tokens will pay for the construction of the restaurant and the cocktail lounge and the VIP space. That is the Flyfish Club. Now, it's opening next year, but like pop-up events, parties in the Hamptons and in Miami, that starts next month if you got the NFT token to get into the sushi restaurant. So like Nobu, this is a very high-end physical restaurant that you want to see and be seen at. But unlike Nobu, you can only dine on the black miso cod if you own the NFT token.

And since it's an NFT, you can be a member of this restaurant for like a year and then eventually sell it. Maybe at a profit. Who knows? Yeah, maybe because you don't like the shrimp tempore. So Jack, what's the takeaway for our buddies over in the NFT space? NFTs are digital artwork. They are online profile pictures and they will become garb you can wear in the Metaverse. But they can also be your exclusive ticket today to something physical. Funny thing, Jack and I have noticed, take for example Gap's new Yeezy NFT.

That unlocks access to a limited edition sweatshirt in real life. The Borde Ape Yacht Clubs is a collection of freaky monkey NFT images, but the owners of those freaky monkeys, they get together in real life for parties. And this first NFT restaurant requires an NFT to get into the real sushi restaurant to eat real sushi in real life. Yes, NFTs are purely digital images and the great majority of them are going to be seen through screens. But to get some people interested with NFTs, brands are connecting them to real world things. And making you feel like part of an exclusive club. For our third and final story, Jack, how long are we supposed to cook the pork shoulder for?

You take 90 minutes to get it to room temperature. Then you cook it for 50 minutes. Oh my God. Then you crank it up to broil, put on the glaze, and every three minutes, you take it out and rebased it with like that delicious liquid. Is cooking a pig or is this like the fourth episode of Lord of the Rings? It's a three-hour ordeal, but it's worth it. I'm not even going to use utensils, man.

I'm just going direct to my consumer face. Is this a gold belly ad, by the way? This is, it feels like it, but we have no coupon coat. Snackers, third story, Peloton stock just plummeted 25%. And now it is below its IPO price. Peloton's entire pandemic stock gain is gone because investors think the bike is a fad. Okay, little context we'll sprinkle on here, Snackers. Jack and I were actually preparing a different story on Amazon's new fashion stores called

Amazon Style. They seem pretty cool. We thought you'd like it. And then this happened. Then my phone told me Peloton stocks down 5%. Then it told me Peloton stock is down 10%. And then at 1 p.m. Eastern Standard Time, we got breaking news from CNBC. Ding, ding, ding.

Peloton is halting production of their bikes. Peloton didn't just pull a hammy. Peloton lost a leg. Apparently, Mr. Big gets the last laugh. Yeah. According to CNBC, Peloton is temporarily unplugging its Peloton bike factory because, quote, unquote, demand has waned. Waning demand is corporate speaker. People aren't buying our stuff anymore.

Palaton, you know, they've got months of inventory that they want to sell before they even start production again. They've got too much stuff. Nick, this is the opposite of the hoarder's almanac. There's too many $2,000 bikes. So Peloton, they actually bought a manufacturing company last year on expectations that you would keep buying their bikes and that bike sales. You know who's sweating right now? Not because he's on a Peloton. Andy, the analyst over an accounting.

Brutal. Who badly misforecasted Peloton sales. Oh, but wait, Snackers. that's not all. There's also reports from CNBC that Peloton is planning to close a bunch of showrooms. Brutal. Make customers start paying the $250 for shipping and installation.

Are you kidding me? And lay off some of their 6,000 workers. I would just go to the Peloton factory and bike the bike home myself rather than pay $250. Nick, did you see Peloton has 22 showrooms in Germany? Are you kidding me? What is going on over in Germany? How do they need that many?

There's actually a lot of German Pelotoners. Okay, okay. But I bet Peloton wishes they had about two showrooms right now. Chicago does logistics. Berlin does third's position. Despite those dramatic moves to save costs, it's too little too late. It is. Yeah, the stock of Peloton. It fell off a cliff yesterday. NASDAQ literally had to halt trading of Peloton stock. You could not buy or sell the stock for a period of time. One year ago, the stock was at $159 a share. Jack, where is Peloton stock now?

24. I looked at the stock chart, Nick, and it looks like a hill climb followed by a massive descent all the way back down to the bottom. Pay Peloton, your stock, it's going to have to sit this one out. And get this, despite quadrupling the user base to over 2 million Pelotoners during the pandemic, the stock is now worth less than before the pandemic. Let that sink in. So, Jack, what's the takeaway for our buddies over at Peloton? Peloton is still just a bike company.

And the bike, it may be a fitness fact. Yeah, Snackers, let's go back to Peloton's IPO a couple years ago. Jack and I were actually there on site. NASDAQ 2019, and the CEO described Peloton as six or seven different companies in one company. It's not just fitness. Peloton was also a tech company, media, hardware, retail, and logistics. Logistics, baby. Peloton. They also believe that today they are not just a bike company. Yeah, they also have a treadmill. They have their own apparel and they have a new weight training product. But Jack, then the treadmill got recalled for that dangerous issue with pets and kids.

And then the apparel sales have reportedly been very weak. And then according to a leak this week, their new Peloton weights have had a disappointingly short weight list. Peloton is still just a bike company. And like other fitness products, the Peloton bike could be a fitness fad. Jack, I'm looking at the Bowflex, the Nordic track. How about the shake weight? All of them were once the rage, but then, you know, short-lived fitness fads. Wall Street thinks the Peloton bike is a fad.

Yeah. And they also think Peloton's one company, not seven. Jack, can you whip up the takeaways for us for this fantastic weekend? Instagram is testing subscriptions. TikTok is testing subscriptions. Probably they both are zucking each other because they want creators because that's the only differentiator. For our second story, an NFT restaurant will be exclusive to NFT owners only. Yeah, because some NFTs are finding physical relevance today.

And for our third and final story, Peloton stock, it's at an all-time love. Yeah, it's like the pandemic surge of Peloton. buying that just never happened. Now, time for our snack fact of the day, which I'm going to send in before my birthday, Jack. Does that work for you? Somebody's the birthday boy over there. You get the birthday glow. Feels like very nice.

I appreciate that. Thanks so much. All right, here we go. Here we go. Now, this doesn't involve the pork shoulder, although I am very sad. You're not going to be there, Jack. So I'm setting aside a rib in your honor. New York City Caps.

You know they're yellow. You're used to them being yellow. Yes, yellow caps. They only became yellow in the 1960s. And the color, Yellow actually came from a man named John Hertz, which, you know, John Hertz? Uh, Hertz rental car. Kind of. He had done a study in Chicago on what color would attract people to cars.

Turned out it was yellow. So New York City started using yellow on their cars. That yellow is iconic. It's as iconic as the orange paint on the Golden Gate Bridge. It is, and it is the same yellow that is in the Hertz logo. That is a birthday snack fact classic. It brings it all full. circle. Well, I love that it's New York-based because you're just like the King of New York. I wish they'd bring back the checkers. I like the checkers. And you hear I mentioned San Francisco

where you live now, Golden Gate Bridge. I like what you did there. Again, we brought it full circle. Snackers, great pod despite a horrible Peloton investment for Nick and me. Did we sell? Did we not sell? Stick around. You'll hear it in the disclosures. The Canalysia of Monday. Can't wait. And before we go, happy birthday to anyone else with a January 22nd birthday. Great day to have a day. birthday. Happy birthday to Jan Alson in Austin, Texas. And happy birthday to Mave the Rave McGilloway straight out of Long Island. Manhasset's finest. And happy birthday to Chun Schlesinger Freed, the Fieldsden Eagle down in Tribeca. And happy birthday Chris Hanna in Ventura, California.

And Christian Quinonez in Providence, Rhode Island. Happy 23rd to Raphael down in South Carolina. And Jenny, celebrating with the Broadway show. Happy birthday. Happy birthday. Happy birthday, Leanne in San Diego. Randy, Openshaw, have a good birthday down in Ashland, Massachusetts, just outside Boston. And Gabriel Rodriguez, out in Boston, just outside Boston. And Veehan, happy birthday in San Antonio. Happy birthday, Alex Farrar in Dumont, New Jersey. And Doug in Harrisburg, Pennsylvania.

And Isaiah Jacob Pratt in the great state of Washington. Oh, and Jack, Victoria and Carmelo Triango, they got secretly married last year. But now they're getting real married, like, not in the Metaverse, but in real life. Do you, Victoria, take this NFT? And Brad Morgan and Taylor Morrison. Enjoy that two-year anniversary down in Orlando. Happy 27th anniversary to Clay and Rebecca Dover down in Texas. Big numbers.

And to anybody else celebrating Nick's birthday today. Happy birthday, Nick. Make it a teapy. Eat good barbecue. This is Jack. I own stock of Amazon. Nick and I both own some Bitcoin and Ethereum, and we both still own stock appellate.

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 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 Robinto Market Inc.,

Robinto 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. Don't move. Don't sweat. Oh, my drop.