The Best One Yet - “One Medical is the Equinox of doctors” — Nike’s olympics shoes. Pinterest’s makeup feature. One Medical pops 47% IPO pop.

Episode Date: February 3, 2020

Shares of One Medical jumped 47% because it’s trying to make you love doctor’s appointments. Nike’s freakishly performance-enhancing shoe just got approval for the Olympics — and gold medals are critical to its brand. And Pinterest whipped up a virtual makeup feature because being your first spot to discovery is what it depends upon.Learn 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 Monday, February 3rd. Welcome back. Yes, welcome back. Nick, happy birthday. Your party on Friday night was great.

And the January is over. It was fantastic, Jack. You still got a little pork belly on the lip right there. Let me just get that for you. Hot Stone Bowl, Bibbim Bab. That's all I got to say. Perfect way to go into the best snacks daily we have ever put together. I love this one, Jack.

Our first story is about one medical. It jumped 58% on Friday on its IPO. as it tries to become the Equinox gym of doctor's appointments. But instead of $199 a month like an Equinox minus the Acey Bowl, it's only $199 a year. It's a health club, but a different kind of health club. Well put, I like what I'm going on. Second story, Pinterest just launched an augmented reality feature. You could try on your makeup without actually touching your face.

It's called get this, wait for it, try on. And we're looking at why Pinterest cares more about indirect. Revenues, then direct revenues. Kind of messes with your head. We have to ask the Pinterest. Third and final story is about Nike. You've talked a lot about performance-enhancing drugs over the course of the Olympics, Nick. They are banned.

What about performance-enhancing sneakers? Good to go. Just run with it. Nothing wrong there, apparently. Nike's controversial vapor flies just got cleared for the 2020 Olympics. Add Nike to the list of favorites for most medals in Tokyo. But before you get to those three stories, we have a bit of a public service announcement. We have got a PSA. Snacker, stop what you're doing. You've got to pay attention to this.

Now, this one's a tad late because the Super Bowl happened yesterday, but we're going to hit this one anyway. It's from Egal Rivera Shine, who hails from Mexico City. He warned us that the rise in avocado injuries before the Super Bowl is something to be concerned about. Now, we couldn't verify avocado injuries related to the Super Bowl by any facts except our personal experience. Let's just say that Jack types with four fingers after the index fiasco of February 2008. Yeah, but that, I may have lost a finger, but Eli beat the Patriots. It was a good deal. Yeah, opposable thumbs are overrated, people.

So we dove in Snackstyle, and we did find a medical study that focuses on avocado-related injuries. This is a true story, Snackers. Snackers, turns out there were 50,413 avocado-related knife injuries between 1998 and 2017. And the increase in the number of injuries is closely correlated to the increase in avocado consumption in general, which isn't much of a surprise. But today, avocado injuries on hands are now 2% of all knife-related injuries. That's right. If you cut yourself with a knife, 2% of the time, or there's a 2% chance,

it's because you are cutting an avocado. Now, the most injured demographic, and this is highly important to focus on, is women age 23 to 39. They are 33% of all avocado-related injuries, no joke. Ladies, I feel you. I have cut my hand, too. When you're cutting an avocado, don't get a sharp knife. A butter knife will do.

Jack, there's definitely a snacker named Julie, who's driving right now, is pulling over and saying, somebody gets me. This is actually the best investigative reporting. This snacks podcast has ever died. We're exhausted from it. We're going to hit our three stories. You're tuned in the snacks daily. We spoke to the lawyers and we got to get something legal out the way.

The 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. 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. Robberhood Financial, LLC, member Fenra slash SIPC. For our first story, Jack, can you turn to the right and cough over there? One medical, just IPOed, and shares popped over 47%. I think I said it popped over 58% in the intro, but it's actually 47%. Either way, a good day.

Bold, rounding up we did right there. Still definitely a healthy diagnosis. But the most important number driving one medical's business is 81%. That's the number of consumers who hate their health care experience. Nick, speak for yourself. Classic exaggeration right there. The S1 document of One Medical, which they had to file to tell all about themselves before IPOing, 81% of consumers are dissatisfied with their health care experience.

That's what they said. we know they're thinking hate. Now, one medical wants to become the equinox of doctors offices. Our words not theirs, by the way. Think about it. Before Equinox, working out was sweaty. It was dirty. It was disgusting. And there were like dried sweat everywhere. The only way you could do it is if your buddy Timmy would spy you. Meanwhile, Equinox made spa-like experiences the thing to do for gyms. Actually, Nick, you meet Timmy and our other roommate, Dave, who should get mentioned more in this podcast. Great, great teammates. We were New York. Health and Racket Club guys, living the sweat life until we got to Equinox.

I think so when at Equinox like massages you when you're doing curls. So also, going to the doctor used to be depressing, but one medical pamperes you with J-Crew-clad doctors surrounded by fig trees and West Elm furniture. It's like a forest. You've got to push the fig trees away and then boom, you can actually speak to the assistant there. Now, the caveat to this one medical and Equinox analogy is that Equinox is a hugely expensive thing that you have to like take out a mortgage to pay for. Meanwhile, one medical isn't so pricey. It's

$199 a year, not $199 a month. Right. Full disclosure, Nick and I are members of one medical, and it gets you access to a primary care doctor only, but those guys and gals will refer you to a specialist if you need to. It's a membership model. There are 400,000 members, and they're still figuring out the whole profitability thing. They were on pace to lose 45 million last year. Now, funny story, Snackers. Jack and I jumped in snack style. and we found this fascinating about one medical's name. They don't want you to think about the word medical at all. No.

Don't even think about the health care industry. They're trying to convince you that they are a different type of company. Don't even bring up the word cold stethoscope because Jack starts getting like hot flashes over there. Now, how about those at home thermometers that make sure you're at 98.6 degrees? It's poking you under the tongue and you're going to impel yourself. I can't breathe with the thing. Funny thing about One Medical is they really do want you to not think about health care. We noticed that their mission is to, quote, unquote, delight millions of members with better health care.

Right. Remember, One Medical is a publicly traded stock now. The stock jumped on Friday. And in that documentation, they mentioned the word delight seven times. But they only mentioned the word doctor five times. That's seven for delight. Only five for doctor. Really tells you about One Medical's priorities.

And other companies using the word delight in recent earnings reports include Peloton, Chewy, and Lulu Lemmon. It's like one medical wants to be a cool consumer company only when it grows up, though. By the way, Jack, great idea for a startup name. Just call it Delight. There's definitely a company called Delish, but Delight should be a thing. True. So, Jack, what's the takeaway for our buddies over one medical?

One medical wants you to sign up for its health care, but it really wants your company to sign up more. Snackers, you may be worried about health care costs, but your employer is way more worried. Apple is so worried about health care. They launched a health clinic on site for their employees. Turns out Google actually owns 5% of One Medical and is one of the biggest One Medical customers. And One Medical has a clinic on site at Google's Googleplex in Mountain View, California. And get this, Nick, the coders, when they need to get their annual checkup, like, once a year and stop coding. They can go right over to the One Medical.

It's only like two minutes, and then they're back in the office in like a half hour. Productivity booster. A friend of ours who actually work there calls it delightful. One Medical's brand focuses on consumers. but the biz model may be pivoting to companies and then getting all the employees with one sales pitch. For our second story, Nike will be the top advertiser in the Tokyo 2020 Olympics. Except without paying for it. We're emotionally concerned about this.

Jack, what is going on? This story is about shoes that will make you jump higher, which goes way back to the sandlot, which I watched as a little boy. Benny the Jet Rodriguez. You remember those Converse All-Stars that made you run fast? Couldn't forget him. Can't forget Benny either. So doping is illegal. because it unfairly makes you run faster.

But shoes that make you run faster? Not illegal. That's totally good to go. That's according to Friday's decision by this international panel of sports referees who regulate the Olympics. We're talking about the Nike Vaporfly sneaker, which is the name of a sneaker you name

when you run out of names for sneakers. These new sneakers have a bouncy soul that make you feel like you're jumping on a trampoline while you're running. Now, Nike on their website describes these things as a built-in secret weapon. Yeah, it has a full-length carbon-fiber plate underfoot that provides a propulsive sensation to help you push the pace. For $250, you can basically have the same technology that goes into like a Tesla.

If you're wondering what carbon fiber is, it's as strong as steel, but as light as a feather. Runners who have worn these shoes, by the way, they have been destroying marathon records. Jack, I heard that some runners who ran the New York City Marathon are still running right now because they're wearing the sneakers. It's true. These shoes have been out for a couple years already. and men and women wearing the shoes have beat the world record for marathons by over a minute each. The vaporflies are changing the game. But here's the thing, Snackers. The sports regulators ended up stomping out a potential arms race for your feet when they did this ruling.

They created a maximum width of the sole. If you know what a vaporfly shoe looks like, you know it's got these giant white clouds under the feats? Adorable. Well, 40 millimeters is the maximum width in the future. Now, effectively, this banned competitors' versions of Vaprify sneakers from the Olympics. That was an additional ruling. Adidas, New Balance, Sasani, A6, Under Armour. They've been racing to make a copycat of the Vaporfly, but those won't be worn in 2020, thanks to this ruling.

Also, we all finally learned how Sassanis pronounced. I had no idea. I honestly thought it was Sikon. But, Nick, this is a huge win for Nike. So, Jack, what's the takeaway for our buddies still running? Don't Stop at Finish Lines over at Nike. Nike shoes are probably going to win a bunch of gold medals. The last time one single product was linked to this many gold medals was 2008.

That was Michael Phelps when I think he won eight gold medals and he demolished almost every swimming record there's ever seen. He was wearing the old LZR swimsuit by Speedo. I assume you pronounce that laser, but they made humans look essentially like seals. And turns out 98% of all swim medals won at the Beijing Olympics. it was swimmers decked out in the old LZR. Remember, Nick, those suits were like full-body jumpsuits instead of the tiny speedos that had been worn in the past. Honestly, the runners should be wearing the Nike Fly sneakers and they should put on the laser swimsuits when they're in the Olympics. So 2008 was great for speedo sales, but 2020 will probably be even better for Nike as its vaporfly gets all the screen time during these metal ceremonies.

Snackers, you know it. People want to run fast. The 2020 track and field is going to be a giant. unpaid ad for Nike. For our third and final story, Pinterest just launched a virtual makeup feature. Pinterest wants to be the online dressing room for makeup.

It's an uncreative name, but we kind of like how it's a really effective name. Try on. Make sense. Right to the point. They're calling the feature try on. Now, Pinterest, according to a buddy of ours who used to work there, is an online repository of ideas.

That's kind of insulting, but kind of, of actually true. What it really is is a website you can go when you need inspiration for something to buy. The makeup is becoming a key element. There are 52 million pinners who are looking for cosmetics inspiration on a monthly basis. Now this new augmented reality feature where you can try on makeup before buying it online. They're starting with lipstick because simulating lipstick on someone's face is easier than like putting makeup on your whole face. No offense to cheeks, but like you're a little more contoured than these puckers right here. Now, the status quo makeup situation you have is you need to schlep over to Sephora,

try out a bunch of different products on your face, literally clean your face between like sample A and sample B and ultimately buy something. Or Nick, you can just shop online and risk having to return. Let's say you're in a situation, you've got the Urban Decay lipsticks. There's so many options. You're going to go with hitchhiker speedball, glossy or mat. It's so easy to go wrong. But with this new Pinterest option, you can open your phone, swipe through the best lipstick options.

Nice. Augmented reality, put them on your face. Good verb there. I like what you did, Jack. And then when you're satisfied with a look, you can swipe up and buy, and your face hasn't even been touched. Now, Snackers, we know what you're thinking. Pinterest is not the first augmented reality makeup company out there. And you're right.

They are not. Is that what the Snackers are thinking? We know you guys well. Now, Target and Alta both have websites with features called The Glam Lab that let you try on a bronzer in an augmented reality way, just like this Pinterest one. Both of these companies, Target and Alta, they're making money directly because you end up buying that bronzer directly from their websites. But Pinterest isn't making money directly from this deal if you end up buying that lipstick. In fact, the whole feature TryOn doesn't make any money for Pinterest directly. So, Jack, what's our takeaway for our buddies over?

at Pinterest. Pinterest wants to be the go-to place for discovery of makeup. And makeup companies will be dying to advertise with Tri-on. Here's the proof. According to TechCrunch, 87% of Pinterest users that are looking for makeup on Pinterest are just about ready and considering to buy makeup. They are actively considering making the purchase. And so with Tryon, Pinterest wants to be the go-to place everyone comes before buying makeup. And once you do that and it gets more traffic, specifically with Tryon, it can start selling promoted pins to the makeup companies who will pay the most to sell their bronzer. So Tryon could make money directly by taking a piece of the sale, but instead, Pinterest is just focusing on ads. Indirect over direct. Jack, can you whip up the

takeaways for us to start the week? One medical is now a publicly traded stock and had a good first day, despite its unprofitability. It's a delightful brand and an experience that it hopes to get other companies to sign up for, like Google. Should have done ticker symbol, or sick. Good call. Second story. What do we got? Nike's controversial vaporflies will be the star runners of the 2020 Olympics in Tokyo. Jack and I are wondering if that panel of Olympic judges may include a Nike board member. Can we get a disclosure over here? This was the best win I've ever seen pre-Olympics for any company. Well played, Nike. Well played. Third and final story. Pinterest has a new augmented reality camera feature for trying on makeup before you buy. It could have taken a cut of sales,

but Pinterest just wants to sell you makeup ads instead. Now, time for our snack fact of the day. This one sent in by Rachel over in San Francisco, good timing. Turns out yesterday was just the second Super Bowl Sunday ever to occur on Groundhogs Day Sunday. We should also point out it was also Rachel's birthday, happy birthday, full disclosure. Now, that's because the Super Bowl used to be in January just about always, but it got pushed back a week in 2001 due to the delays the week of September 11th, and they've basically just kept it in February ever since.

Rachel, happy birthday. Your friend Becca, by the way, lobbied to get this to be a snack fact, so you really should thank her too. So the Groundhog Pucks at Tony Phil has kind of been overshadowed by the Super Bowl. Yeah, a lot of competition. A lot of competition. Great Snackers, Rachel and Becca. Thank you for that one. Remember Snackers, you can tweet us at Robin Hood Snacks to get a snack fact.

We would love to get you a shout out. you haven't followed us on Instagram and Twitter yet, it's at Robin Hood Snacks. This week, we're going to have a bunch of Oscars themed engagements. We got a good T-Boy Tuesday coming at you tomorrow. By the way, this is Nick and I own shares of Tesla. 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.