The Best One Yet - 🍦 “Grab your McFlurry wrench” — Canva’s $40B tap-onomics. McDonald’s McFlurrygate. Rivian’s Ricky Bobby eTruck.

Episode Date: September 16, 2021

Canva just became the #5 most valuable startup, and the #1 most valuable female-founded startup ever. Rivian just hit the biggest milestone yet for electric cars: Actually selling the 1st electric truck (no one else has). And if ya noticed your local McDonald’s McFlurry machine is broken, that’s because it is…So Ronald is getting investigated.$MCD $AMZN $F $GMGot 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, September 16th. Happy Yom Kippur to our Jewish snackers. Yeah, the old Sabbath the Sabbaths, Jack. Yes.

You may be fasting for the next 24 hours. That includes no water. Right, right, right. But here's the great thing. Even though you may be fasting on food, you can still be snacking on snacks. And we're glad and proud to have you snack. And today's pod is the best one yet. For our first story, Canva just became the most valuable female founded startup on

Earth. Yeah, $40 billion to make your powerpoints look like Picasso's. And for our second story, as NPR put it, I scream, you scream, we all scream out of sheer rage that the McFurray machine is broken again. McDonald's is reportedly getting investigated by the FTC for denying you, the people, McFurries. For our third and final story. Funny thing about electric pickup trucks, everyone talks about them. No one has actually made and sold one. Well, Rivian just sold the first First electric truck in the United States. They're having a Ricky Bobby moment. But Snackers, before we hit that great mix of stories,

I'm not sure what to do with my hands. We come bearing a pre-snack story pre-gift. We do, we do. And the gift that we are presenting to you, Snackers, is the gift of new emoji. 37 new emoji. Just got to prove today. There you go.

Fresh off, though, whatever they make these things. Now, here's the thing. Anyone can actually submit an idea for an emoji. We noticed there's. still no emoji for a slamming salmon sweater. There isn't ipso facto. We could submit that emoji for slamming slamen sweaters. We nominated our buddy Timmy as an emoji. They denied it. It's not going to happen, Timmy. The thing is, there's actually a non-profit organization in charge of all this. They're called the Unicode Consortium. Okay, so Jack and I jumped in, Snaftout. This is a secret secret super

organization of emoji like Somaliers curating emojis for you every year. And this is a big responsibility because emoji are the only global language outside of like Justin Bieber song lyrics. True. So that is, again, a big responsibility for the emoji. So 37 new emoji. They're coming to your iPhone or Android device real soon. Can we do this? Can we step on down? New emoji. Get on over here. What do we got you? New emoji number one. Lime beans. The new cauliflower. The new cauliflower. emoji number two, a car tire. But still no chassis. And then a pregnant man emoji. Congratulations. Back to school season. You got to have an empty nest emoji. Good for parents. And then finally, a lip biting itself. Yeah, you gotta love this one. It's a great option for when you text the wrong text chain. That's when you're going to use this emoji. That is the only purpose for this emoji. It's the only time you're going to use it. But Snackers, here's the funny thing. They told us you can't do emoji in a podcast.

Everyone says, emoji are 100% visual. Pods are 100% audio. But Jack, what did we just do? We just did emoji in a podcast. The entire biting lip, Lodus Flower, crying. face. Let's hear her three stories. Goofy face, goofy face, Murman, fires him. You're tuned in the snacks daily. We spoke to the lawyers and we got to get something legal out the way. It snacks about to hear rain 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. Snacks is digestible. Business news for you. Robberhood Financial LLC. Member Fenrow.

For our first story, Canva is now the world's most valuable female founded female-led startup on planet Earth. Actually, we can say in history. Canva is worth $40 billion with their latest fundraise. So here's the thing, Snackers. If your boss told you to make an aesthetically pleasing digital thing, like, what are you going to do? Who are you going to call? I would use a combination of Google slides and the screenshot feature, which is Command Shift 4 on my MacBook. And then I would like mess around a little and then I would screenshot another thing. Copy paste. Enhance. Enhance. Or maybe Snackers, you'd probably use like PowerPoint.

That's the go-toe thigh. Adobe Illustrator, if you are so inclined. Well, Canva is actually the answer to this question for growing numbers of amateur and professional graphic design. Yeah, the business is based around basically this huge archive library collection of digital templates for you to make something pretty to make it easily. It's the Library of Congress for digital templates. They have templates optimized for social media posts, for business presentations, for marketing flyers. They got it all. It's all about efficiency here.

So it's like drag and drop for the win. That's the vibe. We're no Bob Ross is here, Nick. But we made a beautiful deck back in 2018 using Canva. Do you remember? Jack, honestly, slide 8, the font on slide number 8? Oh, my God. I still think about that.

This is when Nick and I ran a start. startup market snacks, and that Canva deck helped us get acquired by Robin Hood. It was all about the seraph. Slide number eight. This is also the third pod in a row. We've referred to like a SaaS product we used back in the day. Enterprise, Enterprise, Enterprise. But Snackers, here's what Jack and I found wild about Canva.

They have grown at a pace we have never seen when it comes to valuation. Canva has accelerated faster than a Rivian pickup truck running on Vibranium. Or is it unobtainium? I never keep back of these things. It's vibrating. Right. So founded 2012, Canva already has a whopping. Get this.

60 million monthly active users, that is huge for like a business SaaS product, you know, targeting business customers. Some Canva users are amateurs crafting the perfect Instagram story to announce their engagement with their boo. And the others are pros paying a whole lot of monthly money to use it daily to design YouTube series for like some big media company, probably Viacom. And this company, when we, say it's scaled quickly. We mean fast. Okay, let's whip out the whiteboard here. The numbers.

We covered Canva on this podcast in 2019 when Mary Meeker invested at a two and a half billion dollar valuation. We covered it again a year later last year when the valuation had grown to six billion dollars. Okay. Two and a half billion dollars to six billion dollars in a year. Okay. This week, though, Canva blew that all away. They announced a new private fundraise that boosted their valuation by seven times to $40 billion. Let that sink in $40 billion. This is probably their last fundraise before an IPO because there's not enough more money in the world to make this company grow bigger.

Yeah. Unfortunately, it's still a sumo stock. If you want to invest, you're straight up missing out. Now, Canva is not just the most valuable female founded female led startup. It is also the number five most valuable startup on planet Earth as well. And since it's based in Sydney, Australia, it's obviously. the most valuable Australian-based startup, too, by far. Yeah, it's like Australia's biggest import after like Artisan Coffee and Nicole Kidman.

True. I can't want up that. So, Jack, what's the takeaway for our buddies over at Canva and you Jackman? Presentation. Presentation is everything in this era of tapenomics. Snackers, Canva was originally designed for amateurs and small businesses to up your creative game perfect for the creative economy. But corporate America now realizes that everything they post online has to be gorgeous.

Because we've gone from shopping in stores to shopping on desktops to shopping on Instagram. That's the world right now. And when you're shopping on Instagram, the things that are the prettiest, they get tapped. And what gets tapped leads to sales. That is why 85% of Fortune 500 companies are using Canva to beautify their digital everything. Canva is becoming what PowerPoint was. The go-to corporate tool for visual anything. A $40 billion tool.

For our second story, this is wild, it isn't just you. It is not you. It is not just you. McDonald's McFlurry machines are breaking everywhere. Yes. The FTC is reportedly investigating this McFlurry gate. Yeah. And it could become a landmark business case.

All right. First, we should set the scene, Jack. It's 92 degrees. You got the cargo shorts on. And the only thing that, will satiate your thirst is busted up Reese's pieces tornadoed into a pint of vanilla ice cream from McDonald's. So you do what any overheated person is going to do. Yeah, go and hit up McDonald's. You're looking for a McFlurry, but then you see a sign that says,

sorry for the inconvenience, our McFlurry machine is unavailable. Yeah. Indefinitely. It's held together by like tape, a toothpick and someone who's not very happy right now. Snackers, it's McFlurigate. And this is a real thing. There are so many McDonald's broken ice. ice cream like machines across the country. It has led to conspiracy theories and petitions nationwide. Somebody went to McBroken.com, recognized that website was available. Real website, McBroken.com. You got to do this right now, Snackers. They launched a tracker to show where McDonald's ice cream machines are working and where they're not working. Jack and I jumped in Snacks style. Get this. If you're in Phoenix, where it is a dry heat,

17% of the McDonald's ice cream machines in Phoenix are broken. 29% are broken. 29% are broken. As of this very moment in the state of New York. That's right. Nearly one ahead of three ice cream machines in the state of New York isn't working at McDonald's. And this is problematic because there's only one way to make that McFlurries. Yeah, you're going to need a spork. This thing is so thick. It's like quicksand of lactose.

You need that trademarked McDonald's hollow spoon with the holes in it that do the tornadoing of the Reese's pieces and the ice cream. And McDonald's need these McFlurries because this ice cream machine makes up like two thirds of their dessert sales. All right. So PFWTM leaked to the Wall Street Journal that the Federal Trade Commission has got involved in McFlurigate. They're investigating this. You don't want to mess with people familiar with the matter. And here's why this is a situation, Snackers. McDonald's isn't just a fast food chain.

McDonald's is a fast food franchise. Right. Franchisees are the actual McDonald's you see on the road. And they pay McDonald's for the use of their brand, the recipes, and the machinery. Okay, but this is where things get dramatic. McDonald's sets the rules for using Ronald's brand. And Ronald says McDonald's franchisees can only use one ice cream machine maker. Jack, who is that maker?

Taylor Company. And the franchisees hate these Taylor ice cream machines because they're more complicated than an Apollo mission. Oh, in a sec. The cleaning tube broke. I'm getting Eremes 6x 432. What does that even mean? These things are chronically difficult to clean at the end of the shift.

And they're nearly impossible to repair once they break. Oh, I'm sorry. It's broken. grab the McFlurry wrench. Oh, you can't find a McFlurry wrench? We'll send a technician. That'll be $10,000. And it's going to take 10 weeks. Good luck. Now, franchisees actually, they showed a sign of unity that is rare among McDonald's 15,000 franchisees in America. Yeah, they made a statement saying, we are tired of being in the butt of jokes like everything Jack and I just said on this podcast. Now, McDonald's made a statement. They said, we actually have no reason to believe that we are the

focus of an FTC investigation. So we'll see what happens. We have reason to believe that there is a takeaway here. So what is the takeaway for our buddies over at McDonald's? The right to repair may be the biggest consumer win of 2022. And Snackers, this could all begin with a caloric ice cream investigation by the Federal Trade Commission. In November, after the election, we told you there was a growing movement among states with right to repair laws. Yeah, right to repair laws. And then in July, President Biden made an executive order to stop companies that intentionally make it really hard to get your basic products repaired and fixed. For example, you drop your iPhone in the screen cracks. Why can you only go to certain Apple authorized stores to get that screen crack? Jack, let's say

you're a farmer and your tractor broke. Why can you only use the John Deere store to fix that thing when the John Deere store is eight hours away? The reason is Apple and John Deere like to take service sales and like even more to just replace your product with the new one because that's how you get the most sales. So they're not fans of right to repair laws getting past. But consumers and businesses would be because they can save a ton of money getting things fixed quickly and easily and cheaper. So here's what we're thinking. Right to Repair could have a wide raging impact on consumers over next year and years beyond next year. And it may all begin with a missing McFlurry machine. for our third and final story, Rivian,

just became the first electric pickup truck that you can actually buy. They're pulling a Ricky Bobby. If you ain't first, you're last. By the way, this weekend, Jack, we did a very lovely hike. And I think this is your favorite hike in the Bay Area. Oh, Tennessee Valley.

I know you loved the Tennessee Valley. We saw a Rivian. I didn't believe it because I've never seen an electric pickup truck. It was like a mirage. Didn't think it existed. Wow. Apparently one of them got loose from the zoo.

We don't know how they. this happened. They let Rivians on the hiking trail. Apparently. It's a very, very adaptable vehicles. Snackers, Rivian just got the thumbs up from three federal government agencies to sell their electric pickup truck and their electric SUV. Yeah. And the business model here for the car company is a direct-to-consumer, just like the startup's advertising on the subway. You can order a Rivian online in all 50 states as of today, just like you could, a Casper mattress, mattress. Yeah, and the first Rivian just rolled off an assembly line in Illinois, like a Hershey's Kiss. It's called the R1T. It's a simple design. It kind of looks like a sneaker made it with like a MacBook,

would you say? I really like that. It's expensive. It is. It is. 67 and a half thousand dollars. But Snackers, this is why Jack and I think this is a big deal. It's a big deal because the U.S. isn't actually a car market. The U.S. is a truck market where some people buy cars. Yeah, get this wild stat. 6% of U.S. car sales last year, they were light trucks, and light trucks are trucks and SUVs. Rivian has spent the past 12 years obsessing over America's obsession with pickup trucks, but also knowing that electric is the future. And that has paid off because Rivian plans to IPO this fall at a whopping 80 billion dollars. It's 12 years old, and it would be worth more than any of the Detroit big three automakers. We're talking GM, Ford,

the Euro company that now owns Chrysler, bigger than all of them. And ironically, Ford is a big investor in Rivian. The student hath become the teacher. The teacher has become very scared of the student. The electric truck market is so critical that the biggest Rivian investor, even more than Ford is an investor, is Amazon. Amazon is betting on Rivian because Amazon's hoping for Rivian's second Rivian product, an electric delivery van. And that electric delivery van is how Amazon, plans to get carbon neutral by 2050. Yeah, and Bezos doesn't like the gas pump waiting time. So, Jack, what's the takeaway for our buddies over at Rivian?

Rivian just passed the first product threshold. The first product threshold. Jack, we got to whip up a list of the electric trucks, Rivian just leapfrog. You might be thinking Tesla has the cyber truck. What are you talking about, Nick and Jack? Like, this isn't the first electric pickup. Love the third person. Well, the Tesla cyber truck is coming late 2022, maybe.

Yeah, and it's going to look like. a third Daph Punk member. You also got the Ford F-150 Lightning, which we've reported on in this pod, but that is also coming next year in the spring. Looks like a regular truck. And GM has the Hummer electric version, which is coming late 2022 as well. Which looks like a midlife crisis. Okay. What about the newbie electric car companies that have been spacking so much recently? Jack, you got nickel in Lourdestown. Both just went public with the promise of electric trucks. But both have been accused of lying and fraud. neither has sold a single electric truck yet. So electric pickup trucks, they are crucial for the

electric car industry. Everyone talks about making them, but no one's actually made one. Only Rivian has passed the critical first product thresholds. Rivian's thinking, if you ain't first, you're last. Shake and bake. Jack, can you whip up the takeaways for us over there? Canva probably started as just a PowerPoint deck in 2012. Yeah, now it's a way prettier version of a PowerPoint that it is killing. For our second story, McDonald's is facing heat for a bunch of broken McFlurry machine. And right to repair laws, that would help McDonald's franchisees fix those dang machines. Third and final story, Rivian is the first electric pickup truck on sale and ready to take home. It also passed the first product threshold. Now, time for our snack fact of the day,

whipped up along with like a little bit of math by Nathan Cormier in Frankenmouth, Michigan. Tonight, Nick, we got the New York Giants facing the Washington. Washington football team for Thursday night football. Which begs the question how many people are fantasing on this game? A lot of fantasy football players are watching that game. 60 million fantasy football players in the U.S. But here's the funny thing about all the fantasy football players. Turns out the average fantasy footballer is spending 4.31 hours a week playing fantasy sports at work.

Over four hours a week at work playing fantasy. Let's say, Nick, the median wage in America is $44,000. Let's roll with it. Jack, let's keep going with this thing. That means fantasy football causes $1,186 in lost productivity per person per year. Yeah, carry the one add the nine. That is $71 billion in lost productivity for the American economy every year because of fantasy football. I think we should flip this around and say that's $71 billion in free wages for the American fantasy football playing public per year. Can we talk about the happiness index? Is anyone talking about

Happiness Index over here? That's 71 billion of free happiness for fantasy football players. Did the number of hugs go up as well? Because I'm pretty sure it did, Jack. Snackers, you look fantastic today. And if you haven't yet, click to follow us on Spotify, Apple, or wherever, you'll listen to this pod right now. And we love seeing your ratings and reviews.

Fantastic. We're always fun. Thanks for snacking. Nick and I'll see you tomorrow. Can't wait. And before we go, Shana Tova for Yum Kippoor to our Snackers. Have an easy fast. And Abyshechip, Piroit, happy birthday down a lot.

in Atlanta. Happy birthday to Peter H. in Brooklyn, Kings County, New York. And Kimber Smith in St. Peter's Missouri. Happy birthday to Michaela from New York, but also happy getting married to Michaela's boyfriend's butt. And happy 10-year anniversary to Jesus and Nancy celebrating down in Houston. Anyone else celebrating something today, make it a T-Bull. Get a McFlurry. Celebrate the wins. This is Jack. I own stock of Amazon. Nick on stock of Apple. Robin Hood Snacks, newsletters, and podcasts reflect the opinions of only the office. 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 Robin Hood Markets Inc., Robin Hood 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. Let me say one more thing before the end. Goofy face, goofy face, Moorman. All right.

You got it. You got it. You got it. I think it's great. Goofy face, goofy face, Murman Fire symbol. That nailed it. Dude, that one,

that one nailed it. Then you got it.