The Best One Yet - 💤 🌞 “Extra sleep forever” — Daylight Saving’s economic hangover. Vail’s roof perk. Instagram’s 1st NFT.

Episode Date: March 17, 2022

Losing an hour of sleep on Daylight Saving is universally hated, so the government may end it forever — but Daylight Saving Time may be the greatest human hack of all time. Vail’s new work perk is giving liftees a raise… and a house. And Zuck spoke at SXSW to reveal Instagram’s next thing: NFTs (aka Operation: Zuck Twitter).$MTN $BTC $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.

This is Nick. This is Jack. And this is Snacks Daily. It is Thursday, the new Friday, March 17th. We're kicking this pot off with, I call on you to do more. Those are the big words from Ukraine's president Volodymyr Zelensky yesterday. He actually zoomed into the greatest shrine of democracy in the world, the United States Congress. He called on Congress to remember Pearl Harbor.

Remember September 11th because Ukraine experiences that every night. Now, the next move, it's coming from Congress. It's actually already come. huge amounts of money and arms headed from the United States to Ukraine. In the meantime, while they're on the way, we just whipped up the best pod yet. TBOI, for our first story, daylight savings may be over forever. Forever, out there? The Senate just voted to end the one hour, twice a year, clock shit.

We know you hate daylight savings, but do you really know daylight savings? For our second story, new work perk if you're a lifty over at Mount Aspen. Yeah, ski instructors, they're getting to ski house, courtesy of veil. Our third and final story is Zuck. Zuck just gave the keynote speech at South by Southwest, and he confirmed before the speech that he's not a robot. Yeah, but his other big announcement, Instagram NFT. But Snackers, before we hit that wonderful mix.

A wonderful mixture. It's the most important day of the most important madness. Snackers, March Madness, basketball tournament, it starts today. Grab my glass slippers and get me that pumpkin carriage, Nick. We already got ourselves a Cinderella story. Love this. Griff Aldrich, a former finance guy. He sounds like a former finance guy.

Griff Aldrich, he already is the surprise of the basketball tournament. Cinderella Griff Aldrich worked in private equity his whole career. No time. Making about 800,000 a year buying and selling companies like they were trading cards. Forget this. In 2018, Griff switched from finance to coaching, from the boardroom to the locker room. Griff Aldrich is now the head men's basketball coach of the esteemed Longwood University. in Farmville, Virginia.

Now, Coach Aldrich is making $150,000 a year coaching a school that you've probably never heard of. And that school, Longwood, just earned their first trip to the big dance. Yeah, Jack, checking out the brackets here. They are now the number 14 seed, and they're taking on the number three Tennessee volunteers. Nick and I looked at this story, and we know how the Longwood Lancers can upset the men's Tennessee volunteers. All right, Coach Aldrich, here's what you got to do, whip out the whiteboard. you got to apply private equity principles to basketball.

Move number one, gut the offense and 4X leverage the defense. Then you got to outsource the free throws to a low-cost Lithuanian guard. Why use zone defense when you can lead a hostile takeover of the other side? Now, we know what you're thinking. Don't worry about the fouls, man. No referee is going to regulate you anyway. We lobbied to make sure of that. Yeah, Longwood.

They may not win the tournament, but they'll discount your cash flow. Let's take our three stories, Brad. You're tuned in the snacks daily. The snacks about the hair ain't food is 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 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 Robahood Financial LLC Member Fenra slash SIPC For our first story

The Senate just shockingly voted To end daylight savings time. I used to call it daylight savings, but I guess that's incorrect. We learned this in our research. It's daylight saving apparently. Well, considering daylight saving might be going away, let's talk about why we had daylight saving in the first place. Yeah. Economics. And why it actually may be the greatest hack of all. Snackers, yesterday Nick and I both had to take a decaf napuccino. We're still recovering from that lost hour of sleep last weekend. By the way, how's a while they're doing, you know, as a like eight-month-old? Right when we figure out his sleep schedule.

He gets jet lagged on purpose because of daylight savings. Snackers, daylight saving. It is the most hated day of the year. Well, probably second. Tax day. Oh, yeah, that's true. That's true. That's true.

And according to one 2019 AP poll, 70% of Americans despise daylight saving day. I thought this was a divided country. 70%. So we are seeing the most rare bipartisan support. The Senate voted unanimously to make daylight saving permanent, which means get rid of daylight sale. Which they happened to do literally like three days after they lost the hour of sleep to daylight saving. They were all like ticked off.

Guys, take a napuccino for a second. All 100 of our U.S. senators voted, yes, let's make it permanent. Republicans, Democrats, United, both parties. Now this goes to the House and then the president. And then we could lose daylight saving. It's expected to pass. And here's what this means for you. Okay, Chuck.

No more time changes in the spring and fall. In November, we just won't fall back. This is it. This time is the time. If you never unplug your clock, if you keep it plugged in, you'll never have to set it ever again. No one is happier about this daylight saving situation than your microwave in your kitchen, which just deals with you trying to press buttons every year to figure that thing out. No, Snackers, daylight saving has a history of being hated.

It does. Because it doesn't just mess with our heads. It messes with our economy. Yeah, Snackers, Jack and I jumped in Snacks style. There are a bunch of stats that show that daylight savings time leads to a economic hangover. Daylight saving time has been a nationwide jet lag for our economy. For example, by some estimates, the one hour time change every year, it cuts a half a billion bucks out of the US GDP and lost productivity.

Because you didn't get your sleep. Oh, and get this, there's a 2% drop in SAT scores for students who take the SAT test the week after daylight saving. And it's dangerous, too. There's a 6% jump in work injuries because you're drowsy and a 6% increase in fender benders because you're not used to driving with the sun at this angle in the sky. But Snackers, here's what Jack and I find fascinating about daylight saving. The economic reason we started saving daylight over 100 years ago.

We started it for a business purpose. Yeah. It was born a hundred years ago to be an economic energizer. It was born to be a productivity power pill for the whole world. Most people you're talking to, actually including us, we thought it began with Benjamin Franklin. Great guy. Benjamin Franklin's kind of like Yogi Berra. He gets credited for some things he didn't actually do.

Early to bed, oh, it to rise, yada, yada, yada. That was related, but that wasn't specifically daylight saving. Daylight saving was actually the idea of a man named William Willett, who was just an architect by chance in the early 1900s. And Mr. Willett used to be commuting into London when he realized he could gain an extra hour of sunshine in the summer when the sun was up early. He had the idea that we should change our clocks by an hour twice a year. He's like, why aren't we doing this?

Like, we all enjoy more sunshine. Well, guess who zucked that idea? Germany during World War I. Totally. They found it to be a way to save electricity. because they needed to turn on fewer lights. Great Britain noticed what Germany was doing, and they're like, hey, we want to save energy money too.

That's all right. Yeah. So then Great Britain said, you know what, we're going to adopt daylight saving time too. So this all started a little over 100 years ago. Yes, it did. Now, here's the business benefit. Because of daylight saving,

people are awake more while the sun is up. So retailers love it. Yeah, because the more awake you were, the more shopping you were doing. Sun's out, money's out. Now, that part is a little outdated now because, you know, we have street lights and other lights. and lots of lights out there at night.

Darkness isn't really an issue for shopping. I can't shop. It's too dark. Where's aisle six? Yeah, that's the outdated part. So, Jack, what's the takeaway for all our buddies who are about to lose daylight saving time? We could lose daylight saving time.

So here's a defense of it. Yeah, Snackers, funny thing about permanent daylight saving time, we actually did that in the U.S. before. And people hated it. In 1974, President Nixon announced no more changing of the clocks. We were permanently going to stick with the summer daylight savings. Yeah, and that first winter, when clocks like didn't fall back in November,

winter mornings were very dark. And people hated that. The dark mornings in the winter, even more. So get this, less than nine months later, Congress voted nearly 100% to bring daylight saving time back. Control Z! So Snackers, if Congress passes this bill and the president signs it, and daylight savings time becomes permanent, our winters are going to get more sun in the afternoon, but less sun in the morning.

So in mid-December, the sun won't even rise until 8.10 a.m. in New York City, or even 8.20 in the morning in in Vermont. Or never in Alaska. Yeah, it's going to stink. Here's what we're realizing right now. The reason people and businesses hate daylight saving time really is because of the moment of transition. It's really just the one day in the spring we hate when we lose an hour of sleep. We all love the fall when we get an extra hour of sleep. That one day is universally annoying, economically costly. But nobody's complaining about the other 11 months when daylight savings time, like, corrects our schedule and makes our days literally brighter.

The clock, it was mankind's greatest time invention. Daylight savings time may be our greatest hack. For our second story, Vail Resorts is upping its pay by 30%. And get this, they're building homes for their workers on the mountains. Because there's a major... affordableity crisis in resort towns. By way, skiing, what'd you end up getting Teddy for his birthday, by the way? I got Teddy vocals. Vocal skis because locals, ski on vocals. Teddy is such a local. That's pretty. Snagger, here's the thing, resort towns, resort ski towns. You get the $18

hot chocolate. Oh, okay. Great for tourist Tammy. Yeah. Not so great for local Larry. Yeah, and that's what you're seeing in the Vail Resort's earnings report that just came out. Vell Resorts is a ski glomer. This is a publicly traded ski company that owns 37 winter resorts in North America. And big news from the CEO, they just announced that they're raising pay for all hourly workers in North America by 30%. That's a huge pay raise. 30%.'s a huge raise on average for everyone. All hourly workers are going from like 15 bucks an hour to 20.

Now, that was interesting. But here's what Jack and I find the most fascinating part of the announcement. Vail says they're also going to, and I quote, aggressively build affordable housing, end quote, for their work. We're not talking like yurts. We're talking like full send affordable two-bedroom condos. I'm thinking like a big building with a bunch of nice apartments in it, right? Near the mouth. Although, full disclosure, I would take a yurt.

Yurt's are actually pretty warm and pretty cool. So Nick and I are looking at this update from the CEO of Vail and we're like, why would a ski resort get into the home building industry? Yeah. why are they suddenly so into these yurts? Or maybe it's just us. Well, we get a clue when we realize that this winter, Vail resorts suffered from a serious lack of workforce. Yeah, basically, Vail realized that 15 bucks an hour is not enough to live in Stowe, Vermont, or Vail Colorado, or Lake Tahoe, California. A bunch of mountains on the Epic Pass that Vail owns, their chairlifts weren't running, even though the snow conditions were great, because they didn't have lifties

to operate the chairlifts. Yeah, this happened to us at North Star. Just- Oh, 10? Chair wasn't working. There's reports that some executives from Val Resorts took off their suits and put on mittens to operate the chair lifts on like peak days. What does this button do? Don't press that button, guy. Snackers, here's the situation. There are not enough local workers because they can't afford to live within an hour of the mountain.

For both winter and summer tourist destinations, local workers have nowhere to call home. A big reason for this, you got a booming stock market that let people buy second homes in particular. places. Yeah, they bought second homes where there's a mountain view and where there's a water view. And remote work let people move their primary homes to some particular locations. People move to the mountains and buy the water. Full disclosure, that's what Alex and I did here in Vermont. We're close to the lake. We're close to the mountains. Someone got themselves some vocals. Snackers. If tourists like to come there, then real estate prices have skyrocketed in those places. It's a certainty. If the town is popular with tourists, real estate prices have

skyrocketed in the past two years. And how can a hotel bartender live in Hilton Head, South Carolina, when the rent just surged 24% in the last year. It's a different type of gentrification than we're used to. That's true. Good point. But it is a gentrification. It's an affordability crisis that's happening outside of cities. So Vail is building homes their workers can actually afford. We call it a roof perk. The roof perk. We haven't seen it. Well, we have seen it once. Jack, what's the takeaway for our buddies over at Vail Resorts?

We've seen the roof perk before. We saw it 150 years. Yeah, Snackers, get this. Back in 1880, Pullman train company built an entire town for its workers. The town of Pullman, Illinois. It's still there today, but it was created to meet workers' needs because otherwise they couldn't work at the factory, about a house. And then Jack, further east, Hershey, Pennsylvania, founded in 1903 by Mr. Hershey for his chocolate factory. He had a chocolate factory, but the workers needed schools and they needed homes. So Mr. Hershey built them all in Hershey, Pennsylvania. And the town still exists. They're four. 14,000 people there today. These companies built houses for their workers because otherwise their

workers would have nowhere to live. It's the same thing today, but in glitzy mountain towns and beautiful beach resorts. For our third and final story, the big news from South by Southwest isn't the barbecue cocktails. It's from Instagram. Instagram is getting into NFTs. What kind of NFTs? What are we talking here, Jack? I don't know yet, but I do know that big tech is into NFTs, big cryptos into NFTs. Even big NFTs is into NFTs. So Mark Zuckerberg headed down to Austin got himself a keynote speaking slot at South by Southwest. He didn't say much about the Metaverse, which was surprising.

It was. Although that probably means he's going to launch a copycat conference in Menlo Park called North by Northwest. Instead, Mark talked about NFTs. Specifically, that NFTs are coming to Instagram in the near term. In the near term. Now, in the tech industry, near term could mean like tomorrow. or it could mean 2028. Mark didn't give much details.

No. So we'll guess the details. Probably Facebook will do the same thing as Twitter. Instagram's probably going to let your energized elephant NFT be your profile picture. Something that's actually kind of cool here. That means only you could use that energized elephant NFT. It's yours. It's unique.

Yes. We know how the process works because Twitter has already launched it. Exactly. And you must connect your wallet to prove that the JPEG image, the NFT, is yours. Yeah. So actually, Snackers, if you're scrolling out on Twitter right now, and if you see a hexagon-shaped profile pick for someone you follow, that's actually an NFT.

Yeah, 99.9% of the people have a circular profile pick, but the hexagon means that Twitter verifies you own the NFT of that image. You own that non-fungible token. Those JPEG pixels are yours. The hexagon is the certificate of authenticity on Twitter for your NFT. But, Jack, this now kind of makes me think that, Zuck is up to some zucking. Yep, Instagram is zucking Twitter.

But Snackers, here's the moneymaker from our buddies over at Instagram. Mark Zuckerberg also announced they're working on minting NFTs within the Instagram app. So like, let's say you got that wonderful Photoshop pick of you on the beach. That just looks fantastic. It's a great image. You look amazing, people. Well, you can make it permanently yours as an NFT. And Instagram will do the blockchain work.

So, Jack, what's the takeaway for our buddies over at Instagram? The centralized platforms are snatching up the decentralized assets. The snacker's key part of the entire crypto value proposition is the word decentralized. Whether it's Bitcoin, tokens, or Dow's, they rely on the blockchain, not an institution. But with NFTs, which are digital collectibles, we're noticing they've gotten pretty centralized about a few big institutions lately. Twitter and Facebook are A and B. Profile pictures are now a key use case of showing NFTs.

And then Coinbase is getting into NFTs. A huge publicly traded crypto platform. And the two most famous NFT collections just merged into one giant NFT collection. Right. The owners of cyberpunks and board APR clubs are now one company. So we're noticing something with NFTs that tends to happen with anything new and exciting. The decentralized assets are at risk of corporate centralization. Jack, can you whip up the takeaways for us for the new Friday?

Rest in peace. Daylight savings time. the clock. It was mankind's greatest time invention, but daylight savings may be our greatest hack. For our second story, Vail Resorts is paying workers way more and building them affordable homes. Because there's an affordability crisis in resort towns. Our third and final story is meta's Instagram. They're getting into NFTs. We just call them Facebook. They should. Well, decentralized assets, they're getting kind of centralized. Now, time for our snack fact of the day. This one sent in by legendary snacker and Middlebury Panther, Connor Grant, from a Lovely. Ridgewood, New Jersey. Today is the tip-off of March Madness.

Now, it's the tip-off for both the men and the women in March Madness. Oh, yeah, the men and women's NCAA basketball division one tournament. Okay, so we should make a note here. The women, they dominate in the social media category. Last year's AP Women's Basketball Player of the Year was Paige Becker's, a Yukon Husky. Okay, and Jack, how many Instagram followers did Paige Becker's have? Page Beckers has 965,000 Instagram followers, and it's a lot more than the guys. Yeah, how much more than the guys? Okay, all 20 starting players in last year's men's final four, all 20 of them combined was not as much as pagebackers.

Pagebackers, 965,000 insta followers. That is marketability. Snackers, you look fantastic today. If you haven't yet, when you see someone, I don't know, when you're getting a snack at work, say, hey, HY HYSD. Have you had your snacks, Dale? If you know, you know. Nick and I'll see you tomorrow.

And before we go, a happy St. Patty's Day to our buddy Timmy. Congrats to Tyrone, who just got promoted to Apple. Not a bad company. Oh, and by the way, it's Tyrone's girlfriend's birthday. Oh, and this is Nick and I own shares of Apple. And happy birthday to Jolis Colerina in the Philippines. And Bill Finn, enjoy that 40th birthday in the suburbs of Chicago, dual logistics.

Happy birthday to Cindy in lovely new private. Providence, New Jersey. And Maggie Lundholm, enjoy the birthday in Milwaukee. Three birthdays coming out to Taylor, Connor, and Ryan. They are 13-year-old triplets. Happy birthday. Happy triplets day down in O. Fallon, Missouri. Celebrate that win. Parents deserve a win. And to anyone else celebrating something today, Nick and a T-Boy. Celebrate the wins. This is Jack. Nick and I both own Bitcoin. And I actually ski on Nordica. And I ski on Reynolds. It's an imported brand. Robin Hood Snacks, newsletters, and podcasts reflect the opinions of only the authors who are

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