The Best One Yet - 🥰 “FaceTime for all” — Fastly’s mess-up. Bitcoin’s last straw. Apple’s FaceTime hero.

Episode Date: June 9, 2021

Did your internet go down yesterday? It probably did, and the company to blame was Fastly… yet its stock jumped 11%. Apple’s major conference has 1 critical Takeaway for ya: FaceTime is its new hero product. And Bitcoin fell yesterday because of that 3-legged stool of crypto.$FSLY $BTC $AAPLGot 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 Wednesday, June 9th. This is the best one yet. I think we can start with that. Funny, we're covering FaceTime today. We are.

And this is the first pod in a year with no FaceTime. Because this is real. One second, please. He's real. I can touch him. Nick, it was the first hell got given you a year. It was. Have you swollen or are you working out?

I don't want to take credit for it. It's the plant-based meat. Snackers, this is the best one yet. It really is. Jack, in New York City, recording live. And Jack, what do we have for our first story? Did your internet break yesterday? Did your, it probably broke yesterday?

Because for everyone, it probably broke for about an hour. Yep, and you can blame Fastly. They broke the internet, but get this, news for Fastly stock. For our second story, Apple had its annual tech fest known as WWDC. Yeah, brutal acronym, but we noticed one specific thing. FaceTime is Apple's new hero products. For our third and final story, Bitcoin is now down 50% in just the past. Ransomware is the straw that broke crypto's back.

But Snackers, before we hit those three fantastic stories. This is a wonderful physical mix. We're going to run down some epic duos. I mean, Jack, you got Kobe and Shaq. You got Tina Fey and Amy Powell. Can I introduce you to Sunny and Cher, the OGs, the original? There's also been some odd couples out there. You know, a lot of people wouldn't think this, but peanut butter and hamburger.

Honestly? Yeah, Jack. I had it in Puerto Rico. I think it's fair. It's delicious. It's the cousin of the bacon peanut butter combo. How about Martha Stewart and Snoop? You don't see it coming, but get this.

They have a CBD brand together. Best of both worlds. And this one brings me back to Southern Vermont. Elbein and Subaru. Actually, that one makes sense. It makes a ton of sense. That's not awkward at all. It'd be awkward if they weren't together.

I think the crocodile guy was the spokesperson on the commercial. Which also makes sense. Then it's a trio, not just a duo. Now, we just discovered maybe the most awkward duo tag team yet. We've never seen this before. Get this, Snackers. Stiletto Crocs. Classic.

with a platform heel that we're going to estimate at four inches. Yeah, we are. We're going to eyeball this thing, aka we're talking high-heeled crocs people. Real-life collaboration between Crocs and Balenciaga. Yeah, so Crocs, you know, they do the $50 rubber shoes. Valencia, you probably don't know, but based on that name, you know it costs $5,000. I'm sorry, you had to import this thing. Now, since this isn't a full Belenziaga, it's just a four-inch heel.

It's a half a shoe. They're marking this thing down to $850 for the high-eastern. healed crox. It's perfect for when you want to strut out and don't want to look like you're trying. But you're really thirsty and you're really trying. Oh, sir, I don't have a reservation but I'm wearing platform crops. If Tim Tebow hadn't got married, this would be

a great item to catch his century. The takers, the takeaway here, wear the healed crocs. Don't let the healed crocs wear you. Let's hit our three stories. Yeah, baby. Yeah, baby. You're tuned in the snacks daily. We spoke to the lawyers and we got to get something illegal out the way. The snacks about to hear rain food. It's

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. Snacks is digestible. Business news for you. Robberhood Financial, LLC, member Fenra slash SIPC.

For our first story, the UK government, CNN and PayPal, they were all down yesterday because of one company's mistake. Fastly. Fastly. They did it. And their stock jumped 11% after. This is weird. It feels like we're going to hit that in the takeaway.

But Snackett, before we jump into that, a lot of people are always curious, Jack, how do we make this pop? What are we doing? What's our process? We get up Burley and we check the news. Rob Burley. And we went to the New York Times.

6.40 a.m. This morning. No New York Times. Then we went to Spotify to make sure the pod got published because, like, we want to make sure you can get your snacks. You know, make sure you get your snacks. It's part of this balanced diet. Wasn't there.

No. You try to Venmo someone back for something, Jack? By the way, the sweet green's on me. It's on me, I insist. Harvest Bowl, no chicken. No chicken dressing on the side. Well, guess what? Venmo wasn't.

Every website said 503. Service unavailable. Cannot compute didn't work. You want to blame someone? It's Fastly. Fastly. A $6 billion San Francisco-based company that I p.oed about two years ago. And Fastly is a classic, what we like to call a stoxygen company.

It's a company you rely on every day. You depend on it. Like the air you breathe. You can't even see it. You don't even realize it's there. Like the air you breathe. Now, Fastly gets content from like Reddit and Twitch and Hulu to your screen. And the way it does that is it has what's called a CDN.

It is a content delivery network. Which is a classic sounds more confusing than it shows. Absolutely. Oh, you want a little bit more confusing for Fastly? Jack, can you enlighten us with the tweet Vasily said? This is the announcement they make to announce the outage. We identified a service configuration that triggered disruptions across our POPs globally. We've disabled that configuration.

Incredibly helpful. Thank you, Vasley. Actually, fastly, can you be slowly? Jack, can you put that into Google Translate for us? Now, here's the funny thing, Jack, and I noticed when we jumped in snack style. The digital world is actually a physical world. And it's physically hard to get digital content across the earth. True thing.

Let's say you're in Boston Snackers and you're streaming the Great British baking show, which is filmed and distributed from Great Britain. There's going to be some lag. That content literally has to flow across a cable underneath the ocean to Boston. It's subtle, but it's there. So in Boston, harder to watch. In London, a lot easier to watch that show. If you're in London, you actually might watch the show quicker because there's less lag.

Now, what solves this problem for our friends over in Boston is CDNs, those content delivery networks like Fastly. It's like the local grocery store of the internet that offers all the favorite content you like to binge. Say a media company is like a farm creating the content. Then the CDN is the local neighborhood market holding the content for you. So Fastly is basically a vast network of servers holding. the digital content physically close to you in Boston.

So the New York Times article you may have read this morning. Like we did preparing for this pot. Your phone got it from a local Fastly server. Except this morning, it didn't get it because they were something wrong with Fastly. It wasn't just the New York Times. Fastly reported in March that they have 336 enterprise clients, which means 336 enterprise websites were darkest. Including the government of the United Kingdom.

Okay. So Fastly broke the internet in the UK. Not a good luck. In the United States yesterday. Why is the stock up 11%? Jack feels like a takeaway moment. So what's the takeaway for our buddies who broke the internet over at Fastly? When bad news includes flattering details, it can be good news.

The flattering details become the new story. We saw that Fastly stock was up yesterday. We tried to figure out why. The truth is nobody knows for sure. But here's our best guess. Here's what we're thinking. The Fastly story got a ton of buzz because the world wanted to know, hey, why is the internet down?

We think investors realized how crucial fastly is to the internet after reading up on this sort. So then investors are like, all right, wait a second. This is such a systemically important company that the internet depends on it. Maybe it's worth more than $6 billion. Maybe we should pump up the stock a little bit. It's like when you hear our buddy Timmy Jack when we're like, you know, hey, how you doing Timmy? Timmy's like, nah, it's so good. The charity I volunteered for it burned down with a fire.

Excuse me one second. You volunteer for a charity, Timmy? Bad news for Timmy includes flattering details for Timmy. It's actually good news for Timmy. For our second story, Jack, first of all, tickets, apparently lost in the mail. Tickets to the gun show. I'm sorry, I don't know where we're going. Actually, the Apple Worldwide Developers Conference, our second story.

Apple is hosting its worldwide developers conference this week. A lot going on, but one thing we want to focus on. Those tickets. We want to focus on FaceTime, which is Apple's new hero product. It's the hero product, but everyone's talking about the worldwide developers conference. It's basically the steep Urquil of product events. What hyper-n nuanced operating system tweak will roll out in the next two to eight months? I'm going to assume the verge has 46 articles written on this online.

They're great articles, but it's a lot of articles. There's a whole section of Twitter that was thrilled to live tweet this thing. In the meantime, Jack and I jumped in snacks style. And what we think the most relevant update for you is, is this, FaceTime. FaceTime got prime time. FaceTime is Apple. new hero products. Specifically, FaceTime is becoming an inclusive Zoom killer.

Yeah, it is. And Disney Plus Love. Okay. So here's how this happens. FaceTime, you know, it's the video calls on the Apple products that your parents are still trying to figure out how your mom's face isn't ever in the frame. Nick and I have figured out because it powers every podcast since the pandemic started. So FaceTime, it already became a verb.

Basically, Apple is trying to turn FaceTime now into a brand. The first big announcement this week, Android users can now join into FaceTime. Yeah, I mean, let that sink in. Everyone can now use FaceTime. Side note, Android users still get the green messages. Whenever that happens, it's just, it's awkward for all of us. The second big announcement, scheduled FaceTime. Okay.

So your FaceTime could actually link to a calendar invite instead of just being a spontaneous FaceTime. And this is implications. Because you could invite Omia Nuno to a group FaceTime tonight at 730. Yeah, the grandparents. But you could also potentially invite the entire accounting team to a FaceTime. So you can invite family. but maybe you invite some of the business partners too.

So you could be on Zoom and be like, Larry, you're on mute. Larry, Larry, mute. The camera isn't on Larry. Or the incredibly simple one-touch, FaceTime. Ipsom facto Zoom killer. Dad's law firm probably isn't going to use this, but the marketing company that reps Dad's law firm, maybe they will. Yeah.

One more thing. One more thing. Classic Apple style. And that thing is SharePlay for FaceTime. Not crazy innovative, but it lets you watch streaming videos together with someone via FaceTime, like if you're on a long distance relationship. So, like, Apple partnered with Disney, with Hulu, with ESPN, with HBO to make this happen. They also partnered with TikTok.

So you can, like, scroll through hilarious TikToks together. With the friends. So this works on iPhone, iPad, or a Mac computer. You're both watching and your FaceTime. Oh, sorry. It apparently also works with Android devices now, too. Absolutely. So Wanda Vision on iPhone with Cousin Wanda.

Wow. So, Jack, what's the takeaway for our buddies over at Apple? FaceTime. The value in building barriers is eventually taking down those barriers. Yeah, Club Apple. It is built upon the smooth, white, fancy furniture that is exclusive, expensive Apple hardware. The price of admission to Club Apple, it has been, it always will be. You got to buy an iPhone, an iPad, or a Mac. Jack, I'm looking at a $1,000 entry fee to Club Apple, aka that's a barrier. It's expensive. But services from Apple, they're monthly subscriptions you've heard so much about. They're cheaper. if only everyone could access them.

Well, now that Apple's got as many people in Club Apple as it can, it's handed out guest passes to the Android crowd to jump on into the Club Apple pool. For instance, Apple TV, you can now download that app on a Roku, on an Amazon Firestick, on anything. Jack, hold my sunscreen, Apple music. You can download that on Android now, too. And now Apple's FaceTime, you can download that on anything.

Snackers, Club Apple, it's rich saturation. So Apple is breaking down the hardware barrier. This is all about boosting services revenue, which is the fastest growing part of Apple's builds their barriers, but then take down the barriers. For our third and final story, Bitcoin's price just fell down to $32,000 its lowest level in months. Ransomware. Might be the straw that broke the Bitcoin's back. Ransomware is like, this has become a scary story the last couple of ones.

Russian blessed hackers hacking and disrupting critical U.S. infrastructure. At first, the hackers held our gas ransom. they held our meat ransom. In case we weren't feeling sufficiently vulnerable. Save our peanut butter. White House officials made us feel even more vulnerable. Don't touch the skippies. FBI chief Christopher Ray said this week that ransomware is a threat to our country on par with September 11th. Then we notice this gem from Energy Secretary Jennifer Grohom that kicks this up a notch further. Our enemies have the power to shut down our energy grid right now. I'm going to let that sink in. Ransomware could shut down the entire U.S. energy grid.

Last time we talked about ransomware was June 3rd on this pod. We said that ransomware was a corporate problem that demanded a government solution. And one of those solutions would be crypto regulation. Right. Because a cybersecurity expert calls cryptocurrency the oxygen that fuels this ransomware fire. And the reason that's the case is because all these ransom payments you keep hearing about in the millions of dollars, that's actually being paid to the bad guys in Bitcoin. Because Bitcoin's untraceable.

But guess what? The government this week has cracked down on that. crypto oxygen to fuel the fire. Jack, take us back to two weeks ago when that colonial pipeline had to pay a big ransom for the oil. They paid $4.4 million to get access to their computers back so they could turn the pipeline back on and they paid for it all in Bitcoin. Well, turns out on Monday, the FBI whipped out the old magnifying glasses had tracked down the wallet that contained that dirty Bitcoin money that was paid in the ransom.

It's big news. Yeah. And it was achieved by a newly launched ransomware. and digital extortion task force. Yeah, neat to work on the name. Launched by the Biden administration. Feels like that should be an acronym that somehow spells coin. It's actually simple, according to an FBI spokesperson who bragged that,

we just followed the money like we've done for decades. Yeah, and then they found DarkSides wallet and then took the Bitcoin apparently out of the wallet. They took 64 Bitcoins from DarkSides wallet, which is 85% of the Bitcoin paid in the ransom. Actually, Jack, I love this quote that the government said yesterday. They said, today, we turn. the tables on the dark side. The dark side? Maybe not the. I don't know if they said the. But what everyone's thinking is, we thought it was impossible to trace Bitcoin. Like this? We just thought it was like untraceable. Yeah, I know you can do this. So Jack, what's the takeaway

for our buddies over at Bitcoin? One leg of the crypto stool got further crashed. Snackers. Here's how Jack and I like to think of price movements with Bitcoin. When Bitcoin's price falls, it tends to be because one leg of the crypto stool has cracked. It's a three-legged stool. Public enthusiasm. corporate validation and lack of government regulation. Those three stool legs are what keep Bitcoin's price up. Now, the price fell to $32,000 on Tuesday, the lowest level since January, and it's down 50% since mid-Apr.

Now, the most recent reason, because the FBI tracing Bitcoin payments and seizing funds sounds kind of like regulation. For years, policymakers in this country have discussed the need to oversee cryptocurrencies. Now, ransomware may have been the straw that broke Bitcoin's lack of regulation. regulation back. And if one leg of the crypto stool cracks, so does crypto's price. Jack, can you whip up the in-person takeaways for us over here? Gladly. I can hear you wild and clear. Bassley is a relatively tiny tech stock with apparently huge importance to digital everything.

Well, and bad news is flattering details. The flattering details can become the good news. Apples using FaceTime to hand out guest passes to club Apple. First, you build the barriers. Then they break. down the barriers to build the value. The FBI showed that the government has some ability to regulate payments made in Bitcoin. One leg of the crypto stool cracked, but there's still two other legs. Now, time for our snack back to the day. This one's in from a fellow podcast host, Maria Chavez Hones from lovely New York City right around Washington Square Park. The largest ever returns date in America was January 2nd, 2020. Within a 24-hour period, UPS saw a whopping 1.9 million

returns. Now, this is a result of increased online shopping. It is. And it also feels like one of those records that's going to be beaten every single year. It's also the result of us just being way too persnickety, Jack. I ask for slim fit, not extra slim fat. Snackers, you look fantastic today. Jack, are you crashing my sister's room technically? Buckbats. Yeah, technically. We got to hit Ballabusta. All right, congratulations to Jeremiah Martin, five-year anniversary of being a California firefighter fighting forest fires. Say that once. Slowly. Congrats to Andrea Wyman, who's gone to the gym every day for five weeks.

Andrea's from LaGrade, Scenacan War Gym. Dexter, congrats on starting summer camp. You're going to have an awesome day, man. Adam, congrats on the move from Florida to North Carolina. R.W. You're graduating middle school. High schools meet fantastic in Illinois. Happy birthday to Robin Hoodie, Alan Aisbet in Dublin, Ireland.

And to Isabella over in Milwaukee. And Delane and Neratless in York Mills, Canada. And happy birthday, Ashland, in Monts, Louisiana. And Brian Schweitzer in Avon, Connecticut. You get the German twist there. And cold down in Tennessee. And big thanks to Katie Martel for letting me crash in a room on the Upper East Side. We've got to hit that reservation.

Snackers. We'll see you tomorrow. This is Jack. Nick owned stock of Apple and we both own stock of Spotify. 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.