The Best One Yet - ⚽ “Kardashian vs Messi” — WeWork’s new SaksWork. Weight Watchers’ cold vaxx summer. Lionel Messi’s Nike shirt.

Episode Date: August 12, 2021

Lockdowns grew our waistlines, but Weight Watchers stock plummeted 25% yesterday. The real celebration of Lionel Messi’s record-breaking soccer deal is at Nike: The business of obsolescence. And say goodbye to the old WeWork… say hello to WeMall.$WW $BOWX $NKEGot 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, August 12th. You know how I know we had a great weekend together? Yeah, you know how Jack? I pulled out my wallet this morning and you know what it said? Credit card. John Kellen Kramer. Who is that? We swapped cards. We swapped cards. We pulled the old switchero on the plastic accidentally. Do I have to send you your card back? I'll send you your card. You send me my card. MX Schmamex. This is the best one. I owe you for $40 a gas by the way and like, I don't know, a few kind bars. Jack, TBLY. For our first story, Weight Watchers was supposed to be the star of Hot Back Summer. We wanted to be healthy. We just didn't want to be lectured. Weight Watchers. For our second story, We Work isn't the old we work. No, no, no, no, no.

They just launched their first Sacks work, a co-working mall. A co-working mall that's unleased. At least. Third and final story, Jack. Liddle Messi has been on FC Barcelona since he was 14 years old. I thought it was Lionel Messi and I thought it was Barthesie. Falona. I don't know. No more. Linole Messi is on PSG and that is great news for Nike. Nike, maybe the real winner here. But Snackers, before we hit those three great stories, Thursday is the

new Friday. Yeah, it is. But you have an extra reason to feel good today. Yeah, because 2020 wasn't just a record year. It was a record year for records. According to the ringer, 2020 set a record for the most Guinness World Records. So, Jack, what you're telling me is last year gets a trophy for most trophies. Last year, the Guinness Booker World Records got 10% more applications for human milestones than the year before. That's 10% more humans being marginally better at an obscure accomplishment. Because how do you give your life purpose during shelter in place? Yeah, what do you do, Jack? I don't know, maybe you stack 400 paperclips in a row. Well, one snacker, I hope, Zela set the record for bounce juggling four basketballs. She bounced them 255 times in one minute.

what a bounce juggle is, but this sounds impressive. Randy D. Gregorio set a record for 18 pizza boxes folded in one minute. Jack, it's a lot of folds to get from flat piece of cardboard to a lovely consorted box. Domino's, I are this man. Snackers, we just set a record for most snacks daily episodes mentioning Guinness Records. And we're about to set a record for the best one yet. Today's pot, DB O.J. Jack, let's hit our three stories. 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. Snacks is digestible. Business news for you. Robberhood Financial, LLC, member Fenra slash SIPC. For our first story, Weight Watchers, just plummeted at 25% on this shocker. No one saw it coming.

Hot back summer. Yeah. Doesn't include dieting. Snackers, COVID-19 gave us the COVID-19. If you know, you know. The elastic waistband is here to stay. Gene sales down, belt sales up. Jack, wild statistic, according to the Journal of American Medicine.

Can you share this one? We put on, on average, in America, a half a pound of weight every 10 days during the lockdown. You could get a peloton or you could get Pringles. Now, that could have been great news for Weight Watchers. That's what we're thinking. You know, they signed all these people up so you could emerge from a bunker, show off your new, like, third bicep, your new minus COVID-19 body, right? Show off your COVID-minus 19 body. There you go.

That's the equation. That's what you want to show. But it wasn't good for Weight Watchers. They described the last three months as challenging. Get this, Snackers. The number of paying Weight Watchers subscribers is 2% lower today than last year, only 4.9 million. And that's why the stock plummeted 25% yesterday. It's now a quarter.

as high as it was at their all-time high. Now, Jack, we really got to be fair here because, you know, summer just, it's typically the worst time for the diet industry, right? That's true. Typically, you shape up in the wintertime after your New Year's resolution so that you can live your life in style in the summertime. I remember we used to go to the Health and Racket Club on like 12th Street. Timmie would be our spotter.

We went in January. It was terribly cold. But this earnings report, you can't just write it off as like a summertime. No, no, no, no. This is different. Americans have ditched their weight watching as the economy has real. Yeah, Weight Watchers put it very politically in their earnings call. They said that people are acknowledging the need for weight loss, but they're asking for a pause. It seems we're so happy

this summer to be outside without a mask that what we're eating and calorie counting became less of a priority. Jack, you're saying yes to the backyard barbecue. You're saying no to the Meatless Mondays indoors by yourself. Right. We're celebrating being vaccinated with our buddies, Ben and Jerry's. The worst part that investors hated the most, Weight Watchers admitted that their research shows no signs that these trends will change after Labor Day. That's kind of scary. So, Jack, what's the takeaway for our buddies over at Weight Watchers or as they call themselves WWW? Weight Watchers is the right idea, but the wrong approach right now. Okay, Snackers, right idea, wrong approach. Funny thing happened on this earnings call yesterday. An analyst pointed

out that other products in the wellness area are thriving, specifically weight loss foods. For example, Atkins and Slim Fast, they both sell food specifically for weight loss. And they're having a great 2021. Yeah, they are. And that suggests that consumers do care about weight loss right now. They're just handling it without weight watchers. Instead of paying weight watchers to micromanage and plan your diet, they're doing their dieting DIY. After a year of being told what to do by local health officials and by retail stores and by the news and by that other store down the street. People don't want to be told by Weight Watchers what to eat. You can have the right idea, but the wrong approach. For our second story, WeWork. WeWork is back in its SPAC, publicly traded life. But get this, Snackers, this isn't

the old WeWork. WeWork is unleasing itself with Sacks Fifth Avenue. This is a great story. This is a fantastic story. Can we talk, Jack, about the cult of we? Great tell all book. I haven't actually read it. Yeah. But I've heard it's really illuminating and wild. Snaggers, nothing we do better than summarizing a summary of a review of a book. That's what we do. That's what we do well.

All right. The cult of weed just came out. It's written by Elliot Brown and Maureen Farrell, two Wall Street Journal reporters. The co-CEO and co-founder of WeWork, Adam Neumann, apparently convinced himself he was going to become the world's first trillionaire. Right. That was MeWork. And the IPO, how would you describe Jack? It kind of just fell apart a year and a half.

It was a colossal debacle. This was like weekend at Bernie's, but for the finance industry. Because it was less of a tech startup and more of an Adam Newman cult. The old WeWork was actually leasing buildings that were owned by their owner, Adam. Which Adam bought using stock of WeWork as collateral. But like we said, that was the old Wework. That's a different Wework, right? Jack.

Yeah, the company now has spacked itself. They're already trading under ticker symbol BOW-X. And when the deal closes this quarter, they're going to change the name of the company to WeWork. But Snackers, like a Griffin, it has risen again. WeWork just announced a whole new thing called SacksWorks. Sacks Work. This is a partnership with Sacks Fifth Avenue, the 100-year-old department. Your mom is going to love this.

This is how she's going to finally understand WeWork. Here's how it goes down. Sacks gives WeWork some of its department store and ask them to convert that space into a WeWork Co-Working space. They should call this Weemall. Well, if it's Weemol, you're not going to take a coffee break at the water core. You're going to take a Gucci break and you're going to have a team meeting in the women's department on the sixth floor. Alyssa, I. I.O.6, you're going to be late. TPS reports. Bring up.

We're pretty excited because Sacks Works is a potential win-win for two industries currently facing a lose-lose. Packers, we've got a kumbaya situation here. You got to love it. Department stores are losing sales right now because there's less in-person shopping. Right. and office buildings are losing tenants right now because workers are still zooming from home. Jack, I'm no matchmaker. This sounds like a beautiful match. Well, Hudson's Bay, the owner of Sacks Fifth Avenue, can make money with WeWork by giving it some of its leftover extra space they don't need anymore.

And Jack, WeWork comes along. They can make money with less space without ever signing a lease by being inside of Sax Fifth Avenue. The first one launches in New York, but they're expanding to L.A., Seattle, Philadelphia and Boston if the New York pilot goes well. And WeWork's top priority for their new Wii malls is to unlease themselves. So Jack, what's the takeaway for our buddies over WeWork? Unleasing could finally turn WeWork into more of a tech company. Snackers Adam, Adam Newman, the WeWork co-founder, who we mentioned before, he used to brag that WeWork could scale like a tech company, like co-working, acting like a Microsoft. But he was wrong. WeWork was very much at its core

real estate company, it signed long-term leases of office buildings. And that is the opposite of what a tech company does. Yeah, it's a big problem because WeWork lost billions during the pandemic when it owed all these lease payments but didn't have anyone filling its WeWorks. But with Sacks Works, WeWorks doesn't have to sign a lease. They don't have to pay rent. They just use Sacks's space. And Jack, those leases were the most expensive part of WeWorks' old business model. With Sacks Works, WeWorks can provide the services of a sweet, office with those neon signs, not the expensive real estate part. And that's much more techy of a business model. We work hopes to scale that business model like a tech company across the

country as the remote worker trend continues. Get this, a whopping 70% of all new Wiiworks are going to look like Sacksworks. They're going to avoid the lease. For our third and final story, Leonel Messi just left Barcelona for Paris-Sand Germain. When big players or big teams, change their jerseys? Oh yeah, big deal. The winner is Nike. Snackers, the news, our buddy, not quite a snacker, but maybe Lionel Messi, the 34-year-old footballer sensation from Argentina just switched clubs. Lino Messi is right there with Cristiano Ronaldo as best player of the generation. Jack, he is five-foot nothing, and he's just doing magic over there. He's hundred and nothing. And he can pass. He can pass. He's getting paid by Paris Saint-Germain

$41 million per year for two years plus a $41 million signing bonus. But here's the think, Snackers. Those wild numbers, that's not really the news we think. There are three other related stories we want to tell you about. First thing, Jack and I noticed, Messi just passed Kim Kardashian on the list of most Instagram followers, another accomplishment. He now has 245 million followers on just that one platform, which is number six overall in the world.

Jack, if Messi's followers were a country, this would be the fifth biggest country in the world. They're beating Pakistan. They're beating Pakistan. They're beaten Pakistan. The second bit of related news is that Paris Saint-Tremaine's Instagram account gained four and a half million new followers in the 24 hours since the Messi announcement. Which leads to the third point here, which could also just be a wild snack fact that you're going to tell everyone today. That four and a half million new Instagram followers in 24 hours is more. than any NFL team has ever in Instagram followers. Sit down, stand up, and sit back down again. Soccer is the world's beautiful game.

But here's what Jack and I are thinking when we saw this whole, you know, messy deal go down. Messy is the winner, but Nike is the one who's actually celebrating. Because Nike loves giant soccer HR moves like this one. Funny thing Snackers, Nike's Jordan brand, they actually have all the rights to do all the official gear for this Paris soccer team. And guess what? They were ready for the news on the Paris Saint-Germain online store. They had 22 messy shirts ready to go for the announcement. Messy fans, they're going to want his Paris-Sand-Germain shirt.

Paris-St. Germain supporters are going to want the messy shirt. And I'm sitting here with Jack's credit card and I'm probably going to order a few of them. So Jack, what's the takeaway for our buddies over in Nike? The business of obsolescence. Consumers hate it. Companies love it. Snackers, when the product you own becomes a lot of. obsolete, you need to replace it with a new one. And some company makes money when you do. Oh, Jack, can we talk about Apple here? Apple is the legend at doing this kind of thing. They are infamous for changing the shape of like the plug-in or changing the size of the charger

you need to plug your thing. It's donglegate because you can't be an iPhone user unless you get the new charger and then you got to buy the new charger. This iOS update, oh, it's going to require an iPhone 8 or later. The worst. So Snackers, why do European football clubs change their colors, change their stripes, new sponsors on a New Jersey so often? The answer may be to boost sales of shirts because they know true fans are going to want the latest, greatest shirt that the players are wearing. Now that Messi just switched to Paris and Germain from Barcelona, his Barcelona shirts are obsolete.

Fans are going to have to replace it and Nike sales are going to pop on that jersey volatility. And that's why companies love the business of obsolescence. Jack, can you whip up the takeaways for us for the new, Friday. Weight Watchers lost subscribers in the past year. After being told what to do for a year, people don't want to be told what to eat. WeWork doesn't want to sign expensive leases anymore. So WeWork may finally become techie with the new Wii malls. And a big shout out to Little Messy in the city of Paris for getting married. Yeah, although the real one celebrating here, it's Nike because so many jerseys just became obsolete. Now, time for a snack fact. Now,

this is a special snack fact. Send in from a snacker whose name they won't share with us. They just go by Snack Factor and they send us a bunch of snack facts all the time. Nothing like an anonymous tweet. We love the Snack Factor. So here's the Snack Factor, Snack Factor, Snack Factor, which we recently said we needed a snack fact for. Snack Factor delivered because Alaska has the highest bear to human ratio of all the 50 states in the U.S. Jack, I don't know what the typical bear to human ratio is, but 21 bears to every one human sounds kind of freaky to me. I didn't know the Department of Wildlife did a bear census. Yeah, they did. Oh, and by the

the way, Alaska, also the most volcanoes to humans ratio in the United States. We should point that out. Big state, small human population. Lots of stuff that could kill you. Snackers, you look fantastic today. Jack, if you see a restoration hardware charge on the credit card, just keep doing what you're doing. Thanks for snack and snackers. We'll see you tomorrow. Can't wait. If you know, you know. And before we go, a happy birthday to Clemens, a brown bear, like Brown University Bear, not an Alaskan bear, in Vienna, Austria. In German, it's pronounced bear. And happy birthday to Melissa Cahan from Istanbul, Turkey, the country. And John Carlos Rodriguez in Puerto Rico.

And Jason Engangorro from New Jersey. Happy birthday, Ernesto, in Fort Lauderdale, Florida. And Ken and Andy Hay, a father and son with the same birthdays over in Cincinnati. Well, him on the lake. Dad goals right there. Yeah. And happy birthday to June on Strong Island, New York, who wonders, where are the best donuts in San Francisco? But you're going to want to dip them in some salt and straw ice cream.

I think it's at Dunkins. thinks it's a bobs. It's a bobs. And happy nightth anniversary to Nikki and Christian, who are also celebrating the fifth birthday of their daughter Vivian in Encino, California. And sweetie and Samir, happy anniversary over in New Jersey. Happy anniversary to Andrew Munchback and his wife over in Boston. And Eric Torres is just happy to be listening to the pod on his way to work in Fort Lauderdale. This is Jack. Nick owned stock of Apple and I own stock of restoration hardware, which Nick mentioned at the end there. Robin Hood Snacks, Newsletters, and Podcasts. reflect the opinions of 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 on 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 principal and past performance, does not guarantee future results. Robin Hood Financial LLC, member FINRA, SIPC.

Yeah, we're not live. I was wondering, like, you see debt over. I was just thinking, I was like, wow, Jack's really up to his quality bar here.