The Best One Yet - 🍯 “Date-friendly food” — Bumble’s 1st restaurant. Trane’s air conditioners. Gympass’ $2B workout.

Episode Date: July 1, 2021

Bumble is opening up its very first restaurant (not a typo) in New York. With an epic heatwave, we’re looking at air conditioner icon Trane Technologies, whose stock is enjoying an all-time high. And while your yoga studio was on lockdown, Gympass hit a $2.2B valuation because it… went after fewer customers.$BMBL $TTGot 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, July 1st, new month. July 1st, halftime for 2021. Oh, Jack, whip out the old halftime report for us over there. Stocks are winning. They're up 16% so far in 2021, according to the S&P 500.

Not showing off, but not falling behind either. I think up 16% for half a year actually is showing off. It's like right in the meaty part of the curb. This pod's showing off, too. It's the best one, yeah. It's a T-boy. Jack, what's the first? story for us today. Bumble is opening up their first ever restaurant. It's not about the dating app,

it's about the community. For our second story, that brutal record heat wave in the Pacific Northwest, sweating. Train technology is an air conditioner stock that's at a record high. Yeah, because we need air conditioners to survive climate change, and yet air conditioners make climate change worse. True. We dive into that. Third and final story, Jim Pass just doubled their valuation to $2.2 billion, even though yoga studios have been closed for like a year. All right, this is wild. It decided to go after fewer customers, which resulted in way more customers. Snackers, before we hit those three wonderful stars. This is my favorite mix we've ever done, Jack.

Just saying that. You may have heard of Postmates, the food delivery app. You've ordered food, you've gotten it via Postmates. But have you heard of Post dates? That's right, post dates. Because post dates does the opposite of Postmates with an emotional twist. Post dates, real thing, just launched. They're not delivering food.

No. They're delivering things you left at your exes apart. Yeah. So post dates is like postmates, but for returning stuff after a breakup to you. We jumped in Snacks style. First, you select the type of relationship that you just broke up from. Yeah, maybe you lived together or you met their parents or it was just a hookup. You selected in the post dates app.

Then you indicate in the app with a few taps what you left behind at your ex's place. This is why you need to retrieve. You need to get pants, maybe a toothbrush. How about the Vitamix, Jack, the Vitamix? How much does this thing cost for this delivery? The price check, I don't know. Can you put a price on revenge and closure? Well, I'll tell you, if you take back the Vitamix, you won that breakup.

Let's just say the winners in life, you get the Vitamix. You'll be missing me the next time you try to make a smoothie, Tina. Yeah, good luck with the Asai Bowl solo. Now, Post-Dates isn't Unisat. No, it's not. They're trying to make some money here. So their delivery fee, it's $25. And they just launched in New York City and L.A.

It's $25 bucks is the base price. Then you got to pay their $3.99 cent emotional labor fee. Is that a real add-on? Yes, it is jagged. It's apparently a real ad on. They throw that in there. Satisfied customers get a brown paper bag, including all the stuff they left behind,

including that expensive tube of thytastro. And your ex gets the awkwardness of a post-dates dude combing through their pantry at 8 a.m. on a Saturday morning. But here's the best part. Post-dates? Probably the only delivery startup. That's actually profitable. The emotional baggage fee, $3.99.

That's the profit. Let's in our three stories, Tina. You're tuned in the snacks daily. We spoke to the lawyers and we got to get something legal out the way. For snacks about the hair ain't food, it's air candy. They don't reflect the views of the Robberhood family. It's all informational just so, you know. 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 news for you. Robahood Financial, LLC, member FINRA slash SIPC. For our first story, the dating app Bumble is opening its first ever restaurant. Unlike Bumble's app, Bumble's restaurant has nothing to do with an algorithm.

So I'm just going to turn things over to full disclosure here. Bumble shareholder, Jack Kramer, Jack, can you give us an update on the stock from where you're sitting? Backer! The stock's not doing well. No, it's not. It's hard. It's down 25% since it's February IP. It's down 19% for me.

So technically I'm outperforming here. Not too shabby over there, Jack. Snackers, get ready to meet something called Bumble brew, Bumble's first ever cafe in Soho, in New York on July 24th. We should call this a straight up restaurant because they're partnering with the restaurant group behind the restaurant Pascal A. Jones. Oh, yes.

No relation to Pascal's Triangle. No, but fantastic pizza, especially the clam one, right, Jack? Now, hilariously, when Bumble announced this two years ago, it got a little delayed, but they really bumbleified the food menu. Yeah, the focus of the menu was actually on date-friendly food. No, two napkins situation dishes.

Right. They figured there'd be a lot of Bumble couples on their first date. So they didn't want like baby back ribs. We're going to get sauce all over your face. You don't want to be sticking that whole face into the volcanic bean burritos dip situation. But like we said, the pandemic delayed the launch by a year.

So post-pandemic, they're not joking around with their menu. It's okay. I brought another sweater with me. If he brings a tied to go stick, he's a keeper. New menu? It's mostly Mediterranean. Going to be some more of the finger food on there. I think they might even have a whole lobster with like a bowl of melted butter,

which is the messiest dish. I mean, that's the sixth date food you get. You crack open the claw. Ah, my eye! By the way, no spaghetti. Are you kidding? You want to create the lady in the tramp situation. I feel like that should be mandatory to serve that.

Big missed opportunity. But snackers, 90% of Bumble users, according to Bumble's data, want to date in real life again after the pandemic. So it makes sense they're opening the restaurant now, so you can literally Bumble at Bumble. Now, Bumble brew isn't just a safe space for your first date with Rohan, who you've been chatting with on Bumble for a while. No, this is what Jack and I find fascinating about Bumble Brew.

It's really also a location for Bumble Bizz to go down. Bumble Bills is Bumble's LinkedIn-ish feature on the app, which is networking, interviews, looking for a mentor. So you're not just like going to the restaurant for the first date for the lobster. Bumble brew could also be applicable to Bumble fund, which is the venture fund of Bumble focused on women-led startups. They actually are considering having pitch competitions in the back of the Bumble. Bumble Brew Cafe.

So to add it all up, you can meet a co-founder. Okay. Fund a direct-to-consumer startup led by women. All righty. All over a $9 honey latte all at Bumble Brew. It's a delicious concoction. Only one location is planned so far in New York City. They're just testing it out.

They haven't committed to a second one. We'll see how it goes. So, Jack, what's the takeaway for our buddies doing physical things over at Bumble? The app gave Bumble scale, but community gives Bumble relevance. Snackers, remember this key part of the dating app industry. When a dating app is successful, you delete the app. That's why we told you last week that Tinder is adopting more social media, not necessarily dating features. Yeah, because they want to stay in your life just a little bit longer.

But Bumble's physical restaurant, offline, makes it even more relevant. Yes. Even if you're in a happy relationship. I mean, married with three kids, Jack, no problem. Now your mom can Bumble with you. Over some baby back ribs at Bumble Brew. So Bumbles transformed from a digital commodity for 26-year-old female. to a potentially lifelong value brand.

Snackers, Bumble's algorithm in their app got them to the IPO. But the Bumble community is what could stop investors from deleting the stock. For our second story, the Pacific Northwest Heat Wave has made a few things, especially this one, incredibly clear. We need more air conditioners. Yeah, and trains air conditioners are both because of and the solution to climate change. All right, Snackers, on Monday, Portland, Oregon suffered a really bad way. There's situation.

116 degrees. Okay. Can you share that other wild snack fact that you were telling me earlier, Jack? 116 degrees is not only a record for Portland. No, it's not. It is hotter than Miami. Dallas, Texas, or Los Angeles have ever been in recorded history. Let that sink in.

Oh, and by the way, Portland's Pacific Northwest cousin, Seattle, people are dying in Seattle because of this. 357 people, according to the Seattle newspaper, visited the ER over that span because of heat-related issues. And a clear reason why, in Seattle, only 44% of residents enjoy and even have air conditioners. Seems like that's definitely going to have to increase because days like this are going to be more frequent. So, funny thing about the air conditioner industry, climate change is actually a major helpful tailwind for all of them. Yes. People are going to buy a lot of AC units as this gets worse and worse of a problem. But then here's the messed up thing about the air conditioner

industry. Air conditioner units are huge electricity hogs causing more climate. Change. 15% of global greenhouse gases are for heating and air conditioning. Yeah. So, like, unless your air conditioner unit is powered by solar panels on a roof or, like, some nearby wind turbines, it's talking a lot of electricity. So you get this brutal cycle. We need more air conditioners to adapt to climate change. Yes. But air conditioners exacerbate the climate change problem. And then the cycle goes on and on. So whose stock is at an all-time high right now? Enter. Train technologies. Train technologies. who calls themselves a leader in climate and sustainability. Now, a little asterisk here, when they say climate over train technologies,

they're talking about like local climate. Yeah, they're talking about the temperature in your living room or in like the office. They're doing commercial and residential air conditioners over at train tech. They're based today in Ireland, but your business goes all the way back to 1885. Back then, what you do is you would hire someone from train to just come over with a giant palm leaf. Or giant ice cube. This blow on your face. Speaking of ice cubes, they also do refrigerated trucks to keep your milk and cookie-dell ice cream cold while they're in transit.

Now, fascinating thing Jack and I noticed about train technologies ACs, they're pledging to be carbon neutral in their operations by 2030. But it's the clients that use the AC units and use up all the electricity, so they're thinking about the clients too. They are. They're also pledging to help their air conditioner customers cut a gigat ton of carbon by 2030 as well. So train stock is at an all-time high because a climate-friendly air-friendly air-conciliation. conditioner, that's a business that Wall Street wants to bet on. But Wall Street also is kind of a fan of the current air conditioner's given everything we just said about that vicious cycle. Carrier, Lennox, comfort services. Those are all AC stocks too, and they're all at all-time highs as well. So, Jack, what's the takeaway for all our buddies who use air conditioners? The worse, the offender,

the bigger, the potential impact. Snackers, let's say you got two buddies. Both want to save the world by working on an environmentally sustainable role at some company. One of them, chooses to work at Patagonia, which has an incredible reputation as like the cleanest company ever. The other one takes the opposite route. They want to join BP, a British oil giant. The one who went to Patagonia actually has a major challenge because that company is already more sustainable than a dandelion. Pretty tough to make those fleeces even cleaner. But the one who went to BP, there's way more potential impact to clean up that very dirty business. Well, to bring it back to train, train operates in a dirty industry. They're an offender.

in the electricity-hogging air conditioner business. But clean air-conditioners could potentially make a huge impact. For our third and final story, Jack, leg day or chest day? Mm, core day. Well, trick question. It's both, Jack. It's both. GymPass just became a $2.2 billion unicorn.

The corporate gym membership app is thriving because of their huge pivot. Snackers Gym Pass. Based in Brazil originally, now it's located in New York City. They call themselves a wellness platform. Which is a gym platform that's gotten into meditation recently. You should really try it out. Now, GymPass, if you're trying to explain this to someone. Which you are.

Exactly. There's a membership to connect you to a whole bunch of gyms, basically similar to Class Pass. So you don't need to be a crunch fitness member for your weight workout. And then a pad member for your yoga routine. No, you don't. One subscription to Gym Pass, you get access to a book. Gym Pass, you're paying $10 to $250 a month. And they cover, get this, a whopping,

one-third of all gym studios in the United States. If you're paying $250 a month, they're like platinum membership, you get access to all those gyms, including SoulCycle. Yeah, you do. If you're paying just $10 a month, you're getting access to like the calm meditation app and maybe a couple things. And a kettlebell. But here's the thing about gym snackers.

The pandemic crushed fitness studios and especially class pass. All the gym shut down. So 10 days into the lockdown back in March of last year, 95% of class pass as revenues, disappeared. And yet, Jim Pass, which has a similar business model, the Class Pass, experienced a boom during the pandemic. They just closed a fundraise, which doubled their valuation to $2.2 billion. And here's why and how. Jim Pass went through an epic pivot back in 2016 that was critical. They didn't really change the product. It's still essentially Class Pass. They changed the customer

they market that product too. Ah-ha. That's the key. The market for fitness memberships, it's fierce. Anybody with the body is potentially a customer. Instead of fighting that fight and trying to sell an app to consumers, which is very hard. Very hard. They sold to consumers' bosses instead. They pivoted from B to C. Business to consumer to B to B. To B.B.

Business to business. It is so B to B now. If you go to Gimpass.com, you can't even sign up for Jimpass unless your company is partnered with it. That's right, Snackers. You can't use Jim Pass unless your company uses JimPass. And guess what? Double the number of companies. are now on GymPass despite the pandemic.

McDonald's, Accenture, Unilever, you're the user of GymPass, but the employer is the customer. And JimPass grew during the pandemic because we think employees spread across the country during work from home. And so the traditional gym membership that companies had that might not have worked anymore.

So with GymPass, a consulting firm like Accenture, can give all its workers access to their local gym wherever they are, wherever they're working from anyone. Because 50,000 gym, are in the gym pass network. Oh, extra plus point here. GymPass gives access to meditation apps, which were crucial as a selling point

during the stressful pandemic. You should really get into meditation. So, Jack, what's the takeaway for our buddies? That's the least Zen thing I've ever. So Jack, what's the takeaway for our buddies over at Jim Pass? When you go B2B, business to business, fewer sales can mean more sales. Yeah, Snackers.

Other health tech companies, they've added business customers too. They've done that in the past. Not new. Fitbit, Headspace, they have corporate clients, just like JimPass does. But Jim Pass went 100% in its pivot to business to business only business customers. Now, there is a cost to that. It's hard for Jim Pass to go viral and get like number one in the app store. Totally. If your HR team has to approve your access to get Jim Pass.

They're not getting to consumers. They have to sell to HR teams a company. But once they succeed in convincing the HR department to subsidize JimPass memberships for all, the employees, then it's really easy to get all the employees to sign up. And McDonald's, Accenture, Unilever, all these companies that signed up for JimPass, they together have millions of employees. So three big sales for Jim Pass, to those three companies, results in millions of new users. Fewer sales can mean more sales. Jack, can you whip up the takeaways for us over there?

Bumble finally launches the restaurant in New York City, Bumble Brew on July 24. It's an investment in the community. That's how Bumble stays relevant. Train Technologies brands itself as the sustainable air conditioning company. Dirty industries have the greatest potential for positive change. Jim Pass pivoted from consumer marketing to business marketing. Fewer sales turned even into more sales. Now, time for our snack fact of the day.

This one sent in by our buddy Dave Paley from lovely San Francisco. If you're celebrating the 4th of July, any of Disney's theme parks, you are in the presence of a record holder. Yeah, get this Snackers. Disney is the largest consumer of fireworks in the world. I bet they get most of them in New Hampshire, which is like, should be New Hampshire slogan. We do fireworks and no taxes for alcohol. Just drive across the border. That's all you got to do. Oh, by the way, Disney is also the second largest purchaser of any type of explosive in the United States.

Right, because fireworks are explosives. But the number one explosive purchaser, wait for it. The United States military. Boom. Department of Defense, Pentagon and Orlando. know. Now, I want to know what national defenses Disney buys more explosives than. Snackers, if you know the follow up to that snack fact, tweet us. Also, if you got a July 4th snack fact, tweet us too. At Robin and Snacks. Snackers, you look fantastic today. Jack, I like a lobster role like the next guy, but I feel like that's a first date risk with the shellfish

allergies at the Bumble shop. Honestly, though, whole lobster is never worth the risk in mind me. Never worth the effort. The whole state of Maine just unsubscribe from this spot. We're kidding. We like it with butter. We'll see you tomorrow. Can't wait. And before we go, congrats to snacker Steve Brent, who's completing a month-long Euro trip listening to Snacks Daily. Or is they called in Europe? Schnax Daily. Congrats to Rock and Zach, who just launched a software startup in lovely Oakland. And Elias just got promoted in Carlsbad, California. Congrats on getting her first home, Diego and Kat, in Victorville, California.

Rob and Sandra also got the first home, designed it for snacking. They put the sound parts like in very critical places. Incredible. Happy birthday to Sean Far Marcus in Los Angeles, California. And our Sean Jane in Boston, but flying to Seattle to celebrate. Birthday greetings to Bradley Beach, New Jersey to Mary Lee. And Athena Howell, happy birthday in Columbus, Ohio. Happy birthday to Kendall McCacky in San Francisco. Also part of a couple that snacks together, Jack.

And Sean Campbell in Seattle, Washington. And happy birthday, Johnny Wong. Also in Seattle. Stay cool, guys. Anyone else celebrating something today? Make it a T-Boy. Celebrate the wins. This is Jack.

I own stock a bumble. The Robin Hood Snacks Podcast, you just heard. reflects the opinions of only the hosts who are associated persons of Robin Hood Financial LLC and does not reflect the views of Robin Hood Markets, Inc, or any of its subsidiaries or affiliates. The podcast is for informational purposes only and is not intended to serve as a recommendation to buy or sell any security and is not an offer or sale of a security. The podcast is also not a research report and is not intended to serve as the basis of any investment decision.

Robin Hood Financial LLC, member FINRA, SIPC. Hold on. I was about to make a fictionized name. Can you help me with a fiction? I was going to say, dude, I was going to say, Tina. No, Tina's good. Tina's good. Tina's great, actually.