The Best One Yet - 👩‍🎤 “Pre-Coachella Tindering” — Tinder’s dating fest. Netflix’s (b)ad quarter. Cannabis’ 4/20 Inc.

Episode Date: April 20, 2022

After 2 years, Coachella is back, but the star act is Tinder’s festival mode. Netflix’s earnings reveal it’s thinking about… The A-word. And 4/20 isn’t just an underground cannabis-munchies-marijuana-sidewink-holiday you whisper about. This year, 4/20 is corporatized.$MTCH $CGC $NFLXGot 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: 2159032Learn 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, April 20th. And this is the best one yet. Snaggers, this pod is absolutely the best pod, Jack and I have ever whipped up for you. TBOI. For our first story, we are made Coachella.

The week long made for Instagram music fast. But the real headline act, it's Tinder. For our second story, Netflix just announced quarterly earnings. Big deal. Did they utter the A word, though? Did they utter the A word? Jack, the A word. Do you want to say it?

Can we say it on this? Pod? Ads. Do we have to bleep that out? Okay, we can just move on. For our third and final story. 420 isn't an underground cannabis munchies marijuana side wink any. No, Snackers, this year, 420, it got corporatized.

But before we hit that wonderful mix of stories. The best mix we've ever put together. I love this mix. You know what we all have in common right now? What we got going on Jack? RZF. RZF. Resting Zoom face.

We all got it. So many Zoom meetings. So many Google Hangouts and FaceTime here and FaceTime here and Facebook. there. Your jaw line has shifted permanently. It's changed. Now, Snackers, Jack and I know what you do because we all got the RZF. You turn off your video. Yeah. You put your face on mute once in a while. You turn off the zoom camera. It's like going in the water at the beach, right, Jack? You can finally exhale fully when you turn off the camera. I got the camera off. But Snackers, we have an unfortunate and startling updates. Snackers, get this. Turning off your Zoom video, it may now be a problem.

percent of executives say that employees who turn off their video during meetings don't have a long-term future at the company. We repeat, you may not have a long-term future if your camera is Xed out. And that's according to a terrifying survey of executives from the company Viopta. So Jack and I are trying to say here, if your camera is off, your promotion may be off too. Hey, this is Todd. I'm just calling it. Goodbye, Todd. Some companies actually require that your camera be on. I'm sorry, is this in all hands or is this an only first? fans. But resting Zoom face isn't the only reason that we're dropping our faces. No, Snackers, Jack and I, we got your backs. Jack and I are pro multitasking over here. If you want to curl some

dumbbells mid-meeting and you're not leading the meeting, you should be able to. If you're hungry, flip some flapjacks in the middle of the meeting. After all, Zoom doesn't pick up smell yet. So Snackers, turn off that camera. Take a little five-minute napuccino to yourself in the middle of the meeting. And face the meeting without facing the meeting. Jack, let's stare at our three stars. 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 hearing food is 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 FINRA slash SIPC.

Our first story, the highlight of Coachella this year. It isn't Harry Styles and that Chenaya Twain duet that they dropped on day one. No one saw that coming. It's also not Billy Elish being the youngest ever headliner at Coachella. Snackers, the highlight of Coachella this year and every concert that you're going to go to is Tinder's newest dating feature. Festival mode. Unless you're in a happy relationship, in which case, this isn't really relevant. You're probably going to skip for the second story.

But if you're still with a strap of feather on your hat and toss on that denim bikini. Brush up on your Swedish house mafia because after. two years, Coachella is back, baby. But this story, it's actually about the Tinder dating app. Yeah, it is Tinder's dating app, which is owned by $26 billion match group, which just has a monopoly, essentially, on all the dating apps out there. Except for Bumble. That's true.

Snackers, if you open up Tinder's Explore tab, you're going to see Tinder's experiments. You are. Like, they're new features that they're checking to see if they work with. It's a single tab, but it's kind of like Tinder's, what do you call it, like a love laboratory, Jack? Sure. I'll take that. They should run with that.

The newest feature in the Explorer tab is called Festival Mode. Festival mode. Connecting concert goers with concert goers before the concert for the concert. Now, the key with this festival mode is that it's coordinating people in a way that you don't typically coordinate in a dating app, which is one-to-one. If you tap festival mode, they're going to show you a button that says Bonnero, stage coach, governor's ball, Lollapalooza, and you can click it if you're going to those concerts. Now, sadly, for your well-funded and well-feathered friend over there, no coach-choo. right now, but it's probably getting discussed at Coachella. Yeah, the next festival, Tinder will partner up with Live Nation, the concert organizer,

so that up to one month before the music festival, you can see who's going and who's on Tinder, who's going. Yeah, and then, hey, you strike up a conversation and make sure you're on the same page when it comes to Kanye. Boom, that's how the magic happens. And if you are on the same page when it comes to Kanye, you can plan a rendezvous at that music festival near the Ferrisville under the palm tree on day two. you go. You and some lucky other already built at Tinder Garden. So there's less pressure when you actually meet up IRL at the music festival. And then you can further bond when you figure out that

you both just dropped $26 on like chili cheese fritos. So Jack, what's the takeaway for our buddies over at Tinder? Tinder thought they had a good idea. Now they know it's a good idea. Snackers, Jack and I jumped in snacks out to the story because the way that this new product came about, we thought that was particularly fascinating. Someone at Tinder thought festival mode would be a win for the company. Yeah, but here's the thing. Thinking something's going to work, that isn't enough if you work at a tech company.

You gotta fit data. So Tinder whipped up a survey on concert dating to transform that, I think, into an I know. Tinder discovered that the number one interest across all their Tinder profiles isn't puppies. It's not travel. It's not finding yourself. It's not mansplaining your crypto investment strategy

to some randau. What is it, Jack? It's music. It's music. And 64% of singles on Tinder enjoy meeting new people at a live event, like a music festival. Okay. Then they discovered this. 61% of singles say they've become friends or more than friends with people who they met at a music festival.

And guess what the top activity Tinder users are excited about this summer? Jack, I'm going to take a gander. It may be concerts and music festivals. That's right. A third of Tinder singles are going to a concert or music festival this summer. Snackers, festival mode. That was Tinder's idea, but it was confirmed by the data. Tinder survey. Got them from I think to I know. For our second story, trigger warning, Netflix just announced the absolute worst earnings report. Jack and I have just ever seen them report. Yeah.

As subscription hits, Netflix just said the A word. Are we bleeping this? Ad Snackers, Netflix. They just announced their first quarter earnings. One of the most culturally relevant companies of our era. But financially, Netflix's relevance has been. waning for months. This was kind of a shocker. Jack, where is Netflix's stock right now? Because it's not where you think it would be. Nick, it's down. Netflix is down since before the

pandemic started. Shrinkage. Netflix Nation just had shrinkage for the first time that Jack and I have ever seen. In the first sentence of the report, they said that revenue growth had slowed considerably. Yeah, we're talking George Costanza level. This company was just hit with a trilogy of problems. Okay, the three problems are subscription. People just have too many. accounts, password sharing, people are sharing too many passwords, and too much competition in stream. Everyone has a streamer and you're probably paying for that streamer and then you shared your password to Netflix with your friend who also has that streamer. And one number was the star. One number was the anti-hero of this report.

And that number was negative 200,000. Wall Street wanted a two and a half million gain in the global subscriber account for Netflix. Instead, they lost 200,000. Now, interesting, detail here. A lot of Netflix losing these subscribers was driven by Russia. Yeah, because Netflix shut down Netflix and Russia to punish Putin. And so they lost 700,000 Russian subscribers. Okay, but Jack, let's put all those Russian viewers aside for a moment. How would Netflix's numbers looked if we don't even like include Russia? Still would have been really bad. And that's why the stock plummeted by 25% yesterday. Okay, Snackers, sit down, stand up, sit back down again. Netflix lost a quarter of its value in minutes yesterday because of that 200,000.

subscriber loss. Even before that brutal 25% drop, Netflix stock was already at a level below where it was before the pandemic. In the meantime, Netflix can't blame that shrinkage on the pool. So, Jack, what's the takeaway for our buddies over at Netflix? It may be time for the dreaded A word ads on Netflix. Snagger, since Netflix is founding a distinguishing feature was how Netflix treated its customers like you and us really well. And that was different from the cable TV industry. They double-dipped their customers in cable. Yeah, Jack, you get that huge monthly bill and you get the commercials.

Fantastic. You get charged twice for cable, but the OG streamer Netflix, they charge their customers just one time. A simple, honest, good old-fashioned monthly subscription, that is it. So it makes sense that CEO Reid Hastings said back in 2019, this. When you read speculation, we're moving into ads, be confident that this is false. Because customers hate... ads. But Jack, what did the CFO of Netflix say just a month ago? Ads aren't in our plan right now at Netflix, but never say never.

Well, that sounds like a subliminal ad for ads. That was a trailer for a version of Netflix that has ads to. Enjoy watching The Crown and then enjoy hearing a nationwide insurance jingle. Now, Snackers, most streaming networks have already moved into ads. They have a cheaper ad-supported version. But Netflix would be by far the biggest streamer to say the A word. For our third and final story, 420. 420 used to be like an undercover weed holiday that you didn't really talk much about, but people were aware was going on.

This year, it's an overcover holiday because it's been corporatized. Snackers 420. It means one thing. Elon Musk is probably upping his bid to buy Twitter to another price. 420 Snackers. It's code for marijuana. It became an under-the-radar marijuana holiday in the 70s among California teens. Okay.

Jack and I have noticed a transition happening here because big business used to hesitate to associate with 420. But now they are embracing it. They kind of have to because like a third of Americans now live in a state where weed is legal. And that's given corporate America cover to go from sidewink in 420 to an open embrace of 420. Jack, can you tell us what Ben and Jerry's whipped up down the street from you the other way? They were early movers in the embrace of 420 when they launched half-baked, which is literally half-baked, an ice cream, paper back in 2006. But Snaggers, this year, things got kicked up a notch. Like publicly traded wingstop, they just came out with a 420 special. Yeah, they're selling blazed and glazed wings today.

And publicly traded Uber. They also have a 420 promo. That's been going on. They're delivering special extra greasy food from TGI Fridays because that's what you need today. Yeah, 2022 has now seen the greatest overuse of the word munchies in marketing history. But a strange contrast, while corporations aren't loving cannabis more than ever before, cannabis stocks are struggling more than ever before. Jack, let's pull up the whiteboard here. We got canopy growth, the biggest producer and distributor of pot in the entire world. How are they doing?

Well, first of all, all the cannabis stocks are based in Canada because of the legalization issue here. True. And canopy is down 90% to a five-year low right now. Okay, that's canopy. But then how about Tilray? Till right, they're making the edibles and cannabis medicines, also one of the largest publicly traded cannabis companies. Their stock's down 75% close to an all-time luck. Oh, so Snackers, this is the strange situation here.

Big business is becoming best buds with 420 in a way we have never seen. But cannabis stocks are in their worst shape than we've ever seen. So, Jack, what's the takeaway for all our cannabis company buddies over on 420? Cannabis growth depends on politics. And the political window is closing. Snackers, when Democrats took control of Congress and the White House, this was expected to be weeds moment. Yeah, sports betting was decriminalized.

Everyone thought cannabis was going to be next. But here's the thing. It hasn't. Yeah. And with midterm elections this November, the political window for decriminalization is closing. Yeah, because experts are expecting a divided government after the midterms with Republicans taking the House

and the Democrats control on the rest. And divided government usually means one thing. Yeah. No meaningful new laws get passed until the next election. And Snackers, that is why you see the epic disappointment in Canada's cannabis stocks right now. Because the political window down here in the States, it's closing. Jack, can you whip up the takeaways for us over there?

Tinder's new festival mode just missed Coach out. Tinder said, I think. Then it said I know. For our second story, Netflix announced user shrinkage and expects more user shrinkage this quarter. To get out of this funk, Netflix may have to drop the A word. And our third and final story is 420. It's today. Corporations are tweeting things about munchies at an unprecedented rate. But cannabis stocks are down because the political window is closing.

Now time for our snack fact of the day. This one sent in by legendary snacker Jason Raymond Werner from lovely Portland, Oregon. Although it snowed in Vermont last night. And I actually lost power yesterday morning. Almost lost a toe based on that weather I saw. It is getting warmer pretty much everywhere else. And it's almost popsicle season. Snackers, one issue, though, when it comes to popsicle season,

be careful if you write down the word popsicle. Don't write the word popsicle. You can say it. But don't you down. Should we bleep it out in this one, too, Jack? In 1989, the food conglomerate Unilever bought the rights to the word popsicle. So the word popsicle. Singular.

And popsicles, plural, are the registered trademarks of the Anglo Dutch conglomerate Unilever. Now, we should point out that Unilever does own Ben and Jerry's. And they do. You sell more ice cream than like any company on earth, actually. So they've kind of earned the rights to the word pot. And we from this point, stop saying the word pop. That's so stupid.

Snackers, you look fantastic. Jack, what time's your flight? I come into Cedema. Here we go. Oh, yeah, I'm coming to San Francisco. I know what you're not going to have with you. I know you don't like those airline kind bars. There's so much sneaky sugar in there.

It's just sneaking in there. It's more sugar than a kind. I like honest sugar, maple syrup. We're not snobby about our sugars, daggers. But seriously, this pod was the best one yet. Wait to hear what's next. Jack and I, I'll see you to me. And before we go, happy 28th birthday to Snacker Zachary Zuzak

over in Kupelai, Hawaii. And happy birthday to Johnny in Miami. And Kristen Melvin and Kelly White, happy twins birthday in Austin and Denver. And happy birthday to Juan Wong in Belmont, California. And Blake Senior, over in Kitty City, D.C. Happy birthday to Matt Pag, celebrating at Foxwoods, the Canadian Resort. Fox Woods. And happy birthday to Zach Cook in San Carlos.

An early birthday to Dartmouth dude, Jake Dwyer, who's from just outside of Boston. And happy birthday to Kelly, in Indianapolis, India. And Kurt, and Pryor Lake Minnesota. Kurt, did you touch your brother's drum set on his birthday? Oh, and Jack, Christina and Brendan, they just had an anniversary. They're a couple that snacks together in the north end of Boston. Happy anniversary to Eric and Francis Reichenberg. Celebrating together in Puerto Varata, Mexico.

And Catherine, Lou, congrats on the internship offer over at PWP. And congrats to Eric Tal, who automated a model in Queens, New York. We don't know what kind of model, but we're actually very impressed because we can't do that. And to anybody else celebrating something today, make it a T-boy. Celebrate the wins. This is Jack. I own stock of Netflix, Bumble, and Unilever, and Nick and I both own stock of Twitter. 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 as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Robinood Markets, Inc., Robinood Financial LLC, or any of their subsidiaries or affiliates. All investments involve risk, including loss of and past performance does not guarantee future results.

Robin Hood Financial LLC, member FINRA SIPC. Popsicle.