The Best One Yet - 😎 “#GigaTweet” — Elon buys some Twitter. Shein’s $100B tank top. Russia’s ruble reversal.

Episode Date: April 5, 2022

Elon acquired 9% of Twitter, because the Technoking wants to rule the #technoworld. Shein is reportedly about to hit $100B private valuation because it knows you want a tank top before you know you want a tank top. And Russia’s ruble has shockingly rebounded because of one wild stat: 70% of the world is governed by dictators — so they’re siding with Putin’s economy.$TWTR $TSLA $BTC $ETHGot 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/viewformID: 2110870Learn 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 Tuesday, T-Boy Tuesday, April 5th. Stocks rose yesterday to kick off the week. But most of all, Jack, congratulations to Kansas. Go Jayhawks. Or congratulations to UNC.

Go Tar Heels. Yeah, we're recording this pod like right before the championship game, you know? Yeah, somebody's really happy. Somebody's not really happy. The one thing this podcast can't do is like transcend the space time continuum. That's not on our business plan. No. In the meantime, though, we wrapped up like the best one yet.

TBI. For our first story, Elon Musk now owns 9% of Twitter. What he plans to do with Twitter is anyone's mean. For our second story, Sheehan, just hit $100 billion to become the most valuable fashion startup ever. Sheen, they know you want a tank top before you know you want a tank top. Our third and final story. Do you remember when Russia's rubble plummeted because the West weaponized finance?

Well, wild story two months later, Russia's ruble has returned. But before we hit that wonderful mix, it just... Fantastic mix of stories, Jack. Do you want to find out where the Bitcoin prices? If you want to know where Bitcoin's prices, look at your forearms. That's right. Whenever there's a spike in crypto prices, there's also been a spike in crypto tattoos. Yeah, crypto prices. They searched in 2021. Well, if you check out Google searches for crypto tattoos in 2021, they more than tripled in the same period. Turns out Bitcoin tattoos, they also popped back in 2017. Funny, that's the same time your coffee shop barista became a bit billionaire. So what we're saying is crypto, it's the best thing to happen

to tattoo parlors since Harley Davidson. Why put mom on your tricep when you can put Satoshi there instead? Jack, the lower the back tat, higher Ethereum's price. That wilting rose, it represents the decline of fiat, period. Sorry, Jack. Does that say love and peace on your ankle? It says block and chain, actually. Oh yeah, and it's not a barred wire. It's literally a blockchain. But there's one problem with crypto investors getting a crypto tattoo. probably paid for that Bitcoin tattoo in U.S. dollars. Let's ink our three stories. 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.

Snacks is digestible. Business news for you. Robahood Financial, LLC, member Fenra. For our first story, call it gigatweet. Elon Musk has asked Twitter what should happen to Twitter. And then he was like, you know what? I'm just going to buy 9% of Twitter. Will he use Twitter for free speech, Tesla or crypto?

Jack, when Elon Musk buys like a huge amount of Twitter, that's like the biggest moment ever for hot takes on Twitter, ever. You're not a Twitter user if you didn't make a hot tweet about this acquisition on Twitter. If you didn't tweet about Elon's acquisition of Twitter, are you even a thought lead? Snackers, Twitter. is to Elon what the force is to Anakin. It's Elon's past. It's Elon's present.

And future Elon it is. Okay, let's start with the past. Elon's first major legal trouble came because of a tweet. A single tweet. Two words. That was it. Funding secured. Because of that tweet, the SEC charged him with fraud,

calling that tweet misleading. And the two sides ended up settled. Okay, so that was Elon's past with Twitter. But Jack, how about Elon's present with Twitter? Elon's buddies with Jack Dorsey. the co-founder of Twitter and two-time former CEO of Twitter. So, you know, Elon has got the number eight most followers of anybody on Twitter with about 80 million. That's a good size.

You think he got his numbers boosted because he's buddies with Jack Dorsey? I mean, it probably doesn't hurt. He's like, can you add a couple zeros to my followers? Jack's probably like, um, can I interest you in Square, actually? And of course, Twitter is now firmly in Elon's future. Boom, Snacker. Jack and I wake up Monday morning. First thing we see, Elon Musk has bought 9% of Twitter stock. Now, he spent $3 billion to become the 9% owner of Twitter.

All right, Jack, can we sprinkle on a little context here about Elon's wallet? $3 billion is about 1% of his net worth. So Elon basically took like a rounding error on buying a coffee for himself and ended up purchasing a large amount of Twitter. He actually is now the biggest shareholder of Twitter. And that's not even the wildest part, Jack. There's no super shares at Twitter. So Elon is number one. Not even the founders have more say on Twitter's.

future than Elon does. So Elon Musk, CEO of Tesla, now owns more of Twitter than the founders of Twitter do. Strong the forces with you. Now, Snackers, Donald Trump, he got frustrated with Twitter, so he tried to launch his very own social media platform. Elon Musk also got frustrated with Twitter, but had the opposite approach as the Donald. Elon's not going to like launch his own thing. He's just going to buy a social media platform off the shelf that already exists. Well, 9% at least. And this all goes back to March 25th, when Elon tweeted, do you believe Twitter rigorously adheres to free speech? He even said free speech was essential to a functioning democracy.

And Twitter is the ultimate town square. So Elon put it out as a poll. Well, guess what? 70% of the 2 million votes in that poll said no. Twitter doesn't rigorously adhere to free speech. So it seems like Elon took a few moments, thought to himself, looked at the mirror, and said, you know what, I'm going to do something about this. He bought 9% on the company.

Now, maybe Elon will use his power as the biggest shareholder to change Twitter's algorithm. To make Twitter more anything goes free speech, less rules-based content moderation. And Twitter stock jumped 25% yesterday. Which is the most since Twitter's IPO like a decade ago. Because the 2021 person of the year wants himself some Twitter. So, Jack, what's the takeaway for our buddy over at Elon actually? Twitter is Tesla's PR horn. And Elon needs Twitter to be techno king.

Yeah, Snackers. Elon, he hasn't said what he wants to do with Twitter, like what he plans to do. We're going to toss out some ideas here. But this is Elon, Nick. So we're not just going to toss out some ideas. The bigger, the better. Yes. At the beginning of this year, Jack and I predicted that Twitter would become a super app, the first American super app.

So what if Tesla's app got rolled into that Twitter super app? Because Twitter isn't just Tesla's PR tool. It's part of Tesla's whole business model. Elon tweets, Tesla stock price rises. Yeah, Elon tweets Tesla will accept Bitcoin, boom. Markets move across the world. Twitter's not just Elon's favorite place to hang out. It's also the number one place for crypto chat.

So Elon could easily acquire more and more of Twitter, launch a Tesla coin, become the techno king of the techno world. There is no out of bounds on Elon's ideas. Remember, he wants to live on Mars in like eight years. So you better think big. For our second story, Sheehan just became the third biggest startup on Earth, on the planet. Ever. Ever. Because Shea knows what you'll want to wear before you don't know what you want to wear.

Oh my God, I'm finishing your sentence. I knew what you're going to say. Oh, wait, before we jump into this, can we talk about the fashion from this weekend? I gave you a peek of my turtleneck. That turtleneck? I had never, I hadn't seen the turtleneck live. It was less slamming sam than I expected, but still, Jack, I mean, that's a serious thing. I saved it for the last night because I didn't think you'd be able to handle yourself.

If you said, day one, took you so long to put on. Snackers, update to the hoarder's almanac. Jack is taking all the cashmere. It's a fine product. It's a fantastic product. It's like a blanket. It's like a duvet. Back to Sheehan.

Please. Snackers, last year Amazon had quite a Joe DiMaggio-esque streak. Yeah, Amazon, 152 days as the most downloaded shopping app in the United States. Guess who broke it? She-in has broken that streak. A Chinese e-commerce startup became the number one shopping app in America last year. Now, Jack and I told you about that, about a year ago. And the way we described it was Sheein isn't fast fashion.

It's created an entirely new thing. Real-time fashion. Real-time fashion. That's what Sheehan does. So, for example, on Monday, Cheyenne notices that zebra patterns are trending. On Tuesday, Sheen shares that data that zebra patterns are trending with their Chinese factories. And then on Wednesday, Sheehan starts selling zebra bomber jackets and zebra maxi dresses on Sheein.

And on Thursday, that zebra bomber jacket and maxi dress shows up at your door. Exactly. Sheehan, they knew you wanted the black and white striped leggings before you'd even seen them. In four days, you became a fashionista involuntarily. Totally. And honestly, it feels like the plot of the next Christmas. for Nolan movie. Now here's what you didn't see. The vast network of Chinese factories pumping out Sheehan's clothes a-sab. What you don't see is what may be their most powerful advantage, just how many

factories they have. Sheehan's big fast fashion rivals are H&M and Zara. H&M and Zara. H&M and Zara. H&M and Zara. H&M and Zara. H&M and Uniclo, sheen isn't operating fast. It's operating now. According to Bloomberg, Sheen is about to raise money at a $100 billion private valuation. Okay, not only is that like seven times more than a lift, that means that Sheen is worth nearly H&M, Uniclo, and Zara combined. And only three startups have ever hit the, what is it, nine digit mark, $100 billion?

Just round up. You got Stripe, you got SpaceX, and you got the company that owns TikTok, bite dance. And soon you're going to have Sheen. And what's powering Sheehan to those incredible valuation highs is the fact that you need a lot of clothes right now, or you want a lot of clothes right now. Sheehan's sales tripled in 2020. Yeah.

Now its valuation is six Xing from 2020 with this fundraise. Because the only thing faster than fast is now real time. So, Jack, what's the takeaway for our buddies over Cheyenne? The line between social media and e-commerce is gone. Commerce is social. Snaggers, we've been describing Sheehan as a faster fast fashion app, a clothing company. At the end of the day, it's a fashion company. It makes money based on what you buy, which depends on a wide network of Chinese garment factories.

But Sheehan may actually be a social media company, not a fashion company. If you open up the Sheehan app, you're going to see a news feed full of fabric, not news. Yeah, it's a TikTok but for tank tops. What you see and buy depends 100% on the algorithm Sheehan designed that populates your feet. Which sounds exactly like the algorithms that Zuck and his team built up at Instagram and Facebook. So shopping on Sheehan, it doesn't feel like filling up in Amazon shopping. No, it doesn't. It feels like an Instagram.

scroll. But your taps aren't likes. Your taps are buys. Sheen didn't just create a new category of fashion. No, Sheehan, they erased the line between social media and e-commerce. For our third and final story, Putin's war crimes in Ukraine, they've been revealed. But his ruble just made a full shocking comeback. It turns out the whole world isn't against Putin. Actually, only 30% is. Okay, Jack, let's jump back one month. We said that the West was weaponizing finance against Russia. It was the best response we had short of outright war. Basically, you could start a war with a country that has the most nuclear weapons in the world, or you could pressure its piggy bank. We chose to pressure its piggy bank. We did. We weaponized finance. We're talking about Russia's

currency, the ruble. It plummeted by 30% in one day on these sanctions. And then Russia's stock market started falling apart too the next day. Then as Putin terrorized Ukraine further, you'd think things would only get worse for Putin and the Russian Rubel. And then this weekend, we saw photographic evidence that Russians executed Ukrainian civilians. There are mass graves in Buka Ukraine, confirmed by photos and by Reuters reporters. Now, if you add all this up, you'd think it would dig Putin's financial hole even deeper. Sadly, though, it didn't. No, it didn't. And that's because Putin has taken drastic moves to stabilize his country's money,

the Rubel. Putin is an autocrat. Anything he wants, he can do. There's no checks, no balance. Just like what she wants she gets. For example, Putin has forced Russian companies to sell U.S. dollars and buy the Russian rubble instead. That supports the price of the Russian ruble. Oh, and then President Putin raised interest rates to a super high 20% in Russia. Which makes investors want to invest in their rubles. And then this one is like the most direct and probably the most straightforward. He forbid people from selling the Russian rubble. Tough for the price to fall when people can't sell.

Basically, this is compulsory economic patriotism. forced by Putin's threats and orders. And they have improved the value of the ruble. The price of the ruble compared to other currencies, it's back up to pre-invasion levels. And there's more, because a more valuable ruble improves Putin's public approval. With no independent news available for Russians to learn the truth, a shocking 83% of Russians approve of Putin and his war right now.

You know who really respects that playbook? Other autocrats. So, Jack, what's the takeaway for our buddies over in all the world's economies? 70% of the world's people are governed by dictators. And those dictators are siding with Putin. Snackers, get this. Of the 195 nations on earth, only 34, only 34 are liberal democracies. Only 34 nations are like the U.S. with rights and free elections.

That's according to the University of Gothenburg in Sweden. And all those dictators, they happen to be supporting Putin. A fellow dictator. And liberal democracies are the ones who oppose them. For example, China just welcomed Putin's right-hand man, the foreign minister for a visit. Oh, and you got OPEC, the Oil-Rish Club of 13 countries, that happens to be led by dictators or royals.

And last week, OPEC stood by an agreement with Putin on oil and turned down President Biden's request to pump out more oil. In fact, over the weekend, Jack and I saw two headlines that describe exactly what we're talking about right now. The first headline, Lithuania, a Western democracy, decided to stop buying oil from Russia. But then China, an autocratic country, decided to buy Russian gas at a discount. the West weaponized finance to destroy their rubble.

But 70% of the world is governed by dictators who undermine that. Jack, can you and that turtleneck whip up the takeaways for us over that? Elon now owns 9% of Twitter. Yeah, Elon needs Twitter to be the techno king of the techno world. Our second story is Sheehan. It's faster than fast fashion and worth $100 billion. Real-time fashion erase the line between e-commerce and social media. Our third and final story is the Russian rubble.

It is bounced back to pre-invasion level. Because shockingly, 70% of the world is sadly autocratic, just like Putin's Russia. Now, time for a snack fact of the day, which Jack and I actually whipped up when we were researching the beginning of this podcast. Well, yeah, we talked about crypto tattoos. We did. We did at the beginning of the pot. We were talking about that. Bitcoin price goes up.

Bitcoin ink goes up too. But then we found, as we jumped in snack style, the oldest tattoo in the world. The oldest ink in the world. It's not on some sailor. It's not in some mummy. 5,300 years ago, an ice man named Otzid. Great guy. Got inked.

Yeah. An ancient human, he died thousands of years ago. Happened to happen in the middle of the Alps. Good place to get froze. His body got preserved, I guess. So when archaeologists discovered the body, they saw 60 tattoos across the skin. Yeah. A 5,000-year-old man covered in ink, none of them Bitcoin.

It was just fired. That's the only one. That was the tattoo. Snackers, we want your snack fact on this pod. So we got a link in the episode description with a Google form for you to submit yours. We'll get your voice in this pod. Even you can send us a tattoo photo too. Maybe we get that out.

And Nick and I'll see you tomorrow. You don't have to send us a tattoo photo photo. We'll describe the tattoo because we can't visually do another one. Nick and I'll see you tomorrow. We'll see you tomorrow. Try it tomorrow. And before we go, happy birthday to Tapukta down the street in San Francisco. Happy 24th to Priya, celebrating her birthday in New York City.

And Caitlin McCarthy, celebrating the birthday in New York City. Happy Cinco Day, McCarthur. And Yako, happy birthday over in London. Happy 29th to Lizzie in Chicago. And I'm Kargelsasi. Enjoy the birthday in Jersey City. And Adriana Barna, happy birthday in Ukraine. And stay safe.

And Marilyn Antaki, congrats on the new dream job in Beirut, Lebanon. Happy first day on a new job to Amy Sophia Campoy in San Diego. And Michael Radigan shot 84 in golf down in Jacksonville, Florida. I've never shot in 84. That's where you're doing. I have shot in 85. Send us a tell you. This is Jack. Nick and I both own some Bitcoin and Ethereum and I own stock of Amazon.

And we both own shares of Square. Robin Hood Snacks, newsletters, and podcasts reflect the opinions if 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 Robintoe Markets Inc., Robinto Financial LLC, or any of their

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