The Best One Yet - 🐶 “The 1st ever dog-walk stock” — Rover is SPACing. Willow’s $82M breast pump. Exxon Mobil’s Blockbuster Video alarm.

Episode Date: April 27, 2021

The Uber for dog-walking is going public, but Rover has pulled off something no other platform app ever has. Willow just snagged $82M for a breast pump because it’s the AirPods of MomTech. And Exxon Mobil was the biggest public company in the US, but now it’s #26 — and we just heard someone ring “The Blockbuster Alarm.”$NEBC $XOMGot 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 Tuesday. Tea Boy, Tuesday, April 27th, Jack. One story we're not covering. Yeah, Tesla just got their seventh straight profit. They just announced it.

Oh, follow up to this. Elon, he's getting to host SNL too. And somehow, Ipsopecto. Yeah. Dogecoin rose more than Tesla stock did yesterday. Awkward. I'm Ron Burkandy. That's the world we live in. Also, turns out today's pod is better than yesterday's pod.

This is actually our best one yet. We're kicking this thing off with the dogs. The Rover. The Uber for Daurovert. Rockers is becoming a publicly traded stock. I mean, these guys pulled off something Uber, Airbnb, TaskRabbit, you name it, no other platform app has ever pulled off. Our second story is more old school. Exxon Mobile just got publicly scolded by an activist investor. But here's the new school part. Someone just rang the blockbuster video alarm. Ding, ding, ding. For our third and final story,

Willow has raised $82 million in private markets with their wearable, wireless breast pump for new moms. All comes down to a new thing. Jack and I are calling time. T-I-M-E, Jack. I was so excited when this worked out. The incredible multitasking economy. Let that sink in. But before we hit that honestly wonderful mix of stories today, Jack, did you have a good weekend? Did you get the date night in? I know we were talking about this.

Did that end up happening? Alex and I watched a movie that got interrupted. Okay, see, didn't get the day night in, which leads to the new thing Jack and I just noticed plant-based dating. Real thing here, Snack. Tinder, the dating app, has a list of passions that you can select for your profile, which helps Tinder match you with other potential daters. Wild thing we noticed, the newest passion on Tinder, it's plants. And Tinder likes to selectively release data that could create a story that gets in the intro of

Sacks Daily. Mine are buzz. So they put out this gem. Women say vegetarian diets are one of the most attractive traits they could find in any partner. Not just vegetarian, Nick. Vegetarian and vegan. Those are both in the top 10 most ranked.

passions on the Tinder app. Turns out vegan, it's like the new Raybans. It's the new khakis. The January? It's the month of love, apparently. Why see a movie, Jack, when you can just grill a celery root together? Nothing kicks off a long-lasting relationship like grilling some tempe. I mean, Jack, we've been saying this for years.

Cachshus, the new Cupid. But of course, this data results in an awkward first-date fight that everyone's inevitably going to encounter. I know what you're thinking here. Is it the eggs, the dairy, the fish situation? Yeah, the 50 shades of whey protein. where do those fall in this equation? Is it pescatarian hot?

Is it not? No one knows. Where does this go? P-protein or soy protein? Where do you fall on which side of the fence? So, Jack, what's the takeaway for our buddies listening over here at snacks? I actually want to ask the snackers. Please, Jack.

We're asking you, what is the takeaway? Plant-based diets are a top 10 most desirable passion on Tinder. Snackers, you're going to have to whip up the takeaway for us. Let us know at Robin Hood Snacks. Nick and I are heading our three stories. Let's do it. You're tuned in the snacks daily. We spoke to the lawyers and we got to get something illegal.

the way. The snacks about the here 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. Robberhood Financial, LLC, member FINRA slash SIPC. For our first story, the Uber of Dog Walking, It is finally going public, baby. It's called Rover and it's pulling off the biggest back. We guarantee this in dog sitting history. All right, I'm checking the tag here, Jack. It looks like this boy's name is, oh, okay, official name.

The official name for Rover is actually a place for Rover. That's the corporate name. I didn't get it at first. Yeah. But it actually makes perfect sense for this company. It sounds like a haiku. Now, they're entering public markets, public stock markets via like the side door. They're merging with a SPAC.

The name of that SPAC is Nebula Caraville Acquisition Corp, which just sounds like four random words, and they'll be valued at $1.4 billion. If you're interested in Rover, the ticker right now is N-EBC. Kind of boring. But it will become R-O-V-R-V-R-Rover when the deal closes in the next few months. And the reason you're going to get to know, Rover, is we're talking about the largest online marketplace for pet care on Earth. It's actually 10 times bigger than number two in that category in terms of market share. And if you're thinking in the business model, basically, you know, Uber connects Paul with a Prius. Rover connects at doxoned with a dog walker. Exactly. Two-sided marketplace. You have pet owners and pet caregivers,

and they get together. And the reason Rover wants to jump into the public market is like, oh, boy, is that 2020 was the adopt-a-pupapalooza situation. Sit, stay. Uh-huh. Stay. Stay. Uh-huh. Stay. You're like ordering puppies via DoorDash. Now, somehow, Rover's revenues and bookings fell last year by 49%. I thought that was a type of. Weird. Because, like, even a... adopted puppies, we're adopting puppies. But it actually makes a tennis sense because you don't need a dog walker through an app when you're working from home and you're constantly with your dog.

The dog walker is going to show up at your door and be like, oh, so you're here. Back in March of 2020, there must have been a lot of those awkward. Are we canceling our relationship? Now, Rover itself is going through an inflection point here because they've got themselves a brand new profit puppy daycare and overnight. But let us break down to you what Rover's business has been like with Facebook. phase one versus phase two. All right, phase one over here. It began with the $20, simple, straightforward dog walk. Or for $15, $5 less, the rover person can just come to your

house and let the dog out for a potty. Like going to the backyard, not walk around the block. No judgment. It's very easy. But now, Rover is entering a little thing we found interesting called phase two, the $35 a night sleepover for your puppies. You can match your puppy with a sitter named Milo. Weird guy. And your puppy can stay at Milo's place overnight so that you can have a weekend trip and not worry about your dog. In fact, you can even click to request that Milo sends you an hourly cute photo of your little doggy. I just want to check on him.

I just want to make sure he's up. It's totally normal. Now, get this. For $30 a night. Interesting. You can have what's called a sleep in where Milo, the sitter, comes to your place and stays at your house to tick out of the dog. Not going to lie.

Feels like this one crosses some social boundaries, Jack. I mean, Milo's got five stars. You can trust him. If you're vaccinated and going to Cabo, you're going to need Milo. So Jack, what's the takeaway for our buddies over at Rover? And Milo. Rover benefits from the elusive platform double-dick. Snackers, here is the reality when it comes to platform apps.

One side demands product is willing to pay. The other side supplies the product and honestly just like wants to get paid and get out of there. Yeah. Lyft, Airbnb, Postmates, Tack Rabbit. They're purely transactional. One side pays, the other side receives. Getting Jack from point A to point B, not a passion project for your Uber driver. Rover noticed something that was funny when it comes to a pet platform like they

Yeah, they did. Two-thirds of their dog stays are currently like pre-Rover. They're done by family and friends who are doing it as a favor to the dog owner. They're doing it out of love. They love doing it. In fact, it is a global pastime. People will watch someone's dog for free. Rover benefits because both sides of their platform flock to Rover and they're driven by love and passion for pets. Meanwhile, over at Uber, Uber's got to spend like 500 bucks on bonuses just to get like drivers on board to actually start driving. Rover doesn't have to convince Milo to be a dog sitter, though. And that's why Rover's so fascinating. Rover has found the elusive platform double dip. Who's a good boy?

It's a good boy. For our second story, ExxonMobil is under attack right now from an activist investor. This one's awkward. One big, rich shareholder is ringing the blockbuster video alarm. Ding, ding, ding. On Exxon Mobile. Actually, it's more of a harsh sound. There's no dings.

Yeah. But Snackers, to sprinkle a little kind of. context on this thing. Jack and I jumped in snack style on it. 2013, Exxon Mobile worth $500 billion. We're talking the most valuable company on planet Earth. 2021, it's worth half that. It's falling to number 26 on the list. And it got kicked out ignominiously from the Dow Jones Industrial Average. Take that Princeton review. Well, Jack's busy breaking the SATs over here. We've got to also talk about a company you definitely haven't heard of called Engine Number One. This is a hedge fund that thinks that Exxon

Mobile would be worth way more than they are today, if only they would embrace sustainable energy. Now, this hedge fund knows basically two things in life. First of all, it has an awesome name. Second of all, it just bought $50 million of Exxon Mobile stock because they think the price is too low. And here's their plan. They're going to try to get ExxonMobil to do what they want them to do, which is have a green makeover and become more sustainable, less oily.

And then the glorious plan for Engine Number One Hedge Fund is to sell to higher price, enjoy the games, and then go home at Thanksgiving and brag to everyone about what they just pulled off with ExxonMobil. This is what activist investors do. Yeah. And they also often employ a classic public shaming strategy. Jack, this is classic activist investor pitchbook 101. An 80 slide burn book is what they whipped up, which like just totally ripped into ExxonMobil's management team. It's not polite.

It is what they think, the brutal truth. And they're trying to rally other big ExxonMobil shareholders to get behind their demands, to fire and then replace all the members on the board of directors of ExxonMobil. Yeah, Snackers, this is straight out of mean girls. If you want to read this thing, it actually gets personal. They get a little mean on it. Now, we expect ExxonMobil to defend themselves. Yeah.

And we expect to see like three main defenses. I mean, if you're ExxonMobil, Jack, what are you going to say in this situation? You're going to say, we are focused on an energy transition, actually. Have you heard about our carbon capture plans? Did you see last year we said we're going to reduce our greenhouse gas intensity by 20%? All right. This hedge fund is going to go, okay, cute kid. Now, that whole carbon thing you just mentioned, that's like a little band-aid.

That's not a cure to the problem. And by the way, like, what does intensity even mean? What is intensity? What are you talking about over here? The second thing we expect ExxonMobil to defend themselves with is, you're wrong about oil, hedge fund. It's actually a great business we should stand. The price per bail of oil, it's back to $62. That's higher than it was in 2016, 2017, and you weren't saying anything back then.

The first step, honestly, it's recognizing that you have a problem. And we quote, ExxonMobil refuses to accept fossil fuel demand made a decline. Welcome to reality. Did ExxonMobil notice that a bunch of Western democracies pledged last week to cut their carbon emissions by 50% in just a few years? All right. So now this is going to get awkward. So then ExxonMobil is going to try like one third and final thing to like try to convince them that they're good. Exxon's going to say, we must stay in the oil business. It's the only way we can continue to make money to pay for an eventual transformation to sustainable energy. To which the activist hedge fund is going to say, sure, but you still have no credible plan for this whole energy transition thing. Meanwhile, 110 countries, including China, have pledged for a zero carbon future, a future with no oil and no gas. Where's the urgency?

Like we said, it's an awkward interaction. So, Jack, what's the takeaway for our buddies over at Exxon Mobile? Some industries are like the Titanic. They must sound the blockbuster video alarm early to pivot and avoid the iceberg. Snackers Blockbuster, it's gone because they simply just waited too long to pivot. Maybe if Blockbuster had embraced male DVD or streaming video a few years earlier, maybe Blockbuster could still be here today. Funny thing, Jack and I have noticed about the fossil fuel industry. It's the same situation.

Just the timing is different magnitudes. For Exxon to pivot and avoid the iceberg, they must pivot decades in advance, not just a few years like Blockbuster could have. So like BP, a competitor to Exxon Mobile, They went big and they like fundamentally changed their business, embraced renewables. They're doing a whole zero carbon thing. They're doing the opposite of ExxonMobil right now. Guess when they plan to have that done?

Next year, next spring, next Christmas? 2050. Yeah. It takes decades for them to pivot to sustainable energy, not just a few years. To pivot from fossil fuel to clean energy. If you're early, you're on time. If you're on time, you are too late. And the Blockbuster video alarm just went off because ExxonMobil is still focused on selling the VHS of

energy. For our third and final story, Willow just raised a whopping $82 million for an unprecedented breast pump for new moms. Nick, it's time to talk about time. We're talking T-I-M-E. More on that and the takeaway. Now, this is a tech hardware gadget company. Yes, it is. That's raised 150 million from venture capitalists. Okay. Since they were founded in 2014. And this is how it's going to go down. You're going to walk into someone's house. The first thing you're going to say, oh, do you get new sonos? What is that over there? No. It is. It is. is the first wearable, portable, portable, wireless breast pump.

I mean, this thing looks like it was designed by Johnny Ive. And because it's 2021, it's wireless. And it connects to your app via Bluetooth. Pretty simple, straightforward. It fits right under a bra and it's a wireless, portable breast pump. It's literally, look ma, no hands. It is. And also, this is Jack.

I've read a ton of reviews for this thing. Alex and I bought one. And it's two and a half weeks in, so we just opened it. Full disclosure, also Snackers. We did jump in snack style, but Jack has also been review sleuthing this thing for like three trimesters already. It informed most of the story. And this product is a huge deal for mobs because there's big pressure to pump milk to keep your supply up. So here's how this is going to go down with Willow.

You're going to be at home, but you're not going to be chained to an electric outlet for like an hour. And with Willow, if you're at the office, you don't have to confine yourself to that lactation room. I mean, Jack, I think what we're trying to say here is that Willow is the AirPods of breastfeeding. You can pump at home while doing yoga. It's right on the website. Or maybe you're at the office. You can be breast pumping with Willow while you're like signing deals and talking to four people in the conference room. Now, this is like a Ferrari.

It's $500. Then you have to buy like some $50 containers and then a bunch of plastic bags which are like $25. But guess what? People don't seem to mind because they double their user base over 2020. Snackers, it's a private company. We don't know the valuation. And it's uninvestable until the company IPOs. But what we do know is a really interesting takeaway.

So Jack, what's the takeaway for our buddies over at Willa? Welcome to the era of time. Time, T-I-M-E. The incredible multitasking economy. I kind of love that. Now, funny thing, Jack and I noticed two booming products that are totally connected. You got podcasts and then you got AirPods. There's no debating podcasting is booming.

Apple and Spotify are fighting to win that battle right now. It's aggressive. Actually, Jack, can you share that insane stat you dropped me the other day? 70% of America's teens own a pair of AirPods. insane. Those are expensive AirPods. Snackers, why are you listening to this pod right now? Because it's the ultimate multitasking medium. You may have just painted something while listening to the takeaways. You probably did. Maybe even bench press something while we were whipping up a takeaway. Maybe you sauteing something right now while snacking. Why not? I'm coasting a pod. I basically

just flambay-a-tham. It's not just multitasking. We see a megatrend where people are multitasking many tasks previously unmultitaskable, Nick. And it's because you got this connected wireless technology that makes all the multitasking tasks possible. First with AirPods and now also here with Willow. Snackers, Willow is in high demand, in part because you got this whole new generation of moms totally accustomed to multitasking. And with Willow, they can get 2,000 steps in, listen to a 20-minute pod and breast pump at the same time.

Get a bench press in, who's counting? T-I-M-E. It all comes down to the incredible multitasking economy. Jack, can you whip up the take? for us over there. T-Boy Tuesday. Rover has spacked itself to become a publicly traded company. Dog walking. Apparently, it's the elusive platform double dip. Just about every Western economy is pledging to cut oil and gas, eventually, completely from their economy. And that's why we just heard a hedge fund ring the old blockbuster alarm so Exxon can pivot in time. Willow is our third

and final story. They've created the AirPods of breast pumps. And all comes down to time. T-I-M-E, the incredible multitasking economy. Beautifully put. Now, time. for our snack fact of the day. This one sent in by Merrill from lovely Portland, Oregon. Okay, Portland, Oregon is home to the smallest officially designated park in the world. If you're in Portland, Oregon, which we assume means you're in ath leisure way right now, run over to Mills End Park on old front end avenue. It is clocked in at two square feet. There's just a tree and a little bit of soil, and that's the park. Now, that tree was stolen once. Yeah, kind of like that couch we had in Halloween that was stolen, remember?

True, and I'm pretty sure a Parks and Rec episode is based on this Guinness Book of World Records. Irregardless of everything we just said, though, this park, two feet, smallest park on earth. Snackers, you look fantastic today. Remember to whip up a takeaway for us on what's going on with the plant-based dating situation. But apparently, it's the month of love. And before we go, happy birthday and happy wedding to Dave over in Knoxville, Tennessee. Happy birthday to Santa Vista in Geneva, Switzerland. And Alex Glick, turning 33, visiting all the national parks across the west for the birthday celebration. Happy birthday to Maggie White, not just in Texas.

And Preetham in Fremont, California. And congrats to Brandon, who just got a promotion. And Jeff Wang got the new job at Apple in Boston, but he like keeps falling asleep with the work from home stuff. Congrats to Jacob Mendoza, who just got a new job at Union Pacific. And so did Sienna Park over in Seattle. Congrats on getting engaged to John and Lilly in Yarmouth, I think, Massachusetts. It's just outside Boston probably. And happy belated birthday to Ariavast.

like Ari Stark. Yeah, Irvine, California. Happy birthday again, are you? This is Jack. I own stock of Spotify, so does Nick. And Nick also own stock of Apple. 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, 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 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.