The Best One Yet - 🦧 “The bored apes are yachting” — Beyond Meat’s not-that-into-you. Bored Ape’s NFT. Disney’s sports betting.

Episode Date: November 12, 2021

The newest trend in NFTs can be summed up by 4 words you’ve never seen together: Bored Ape Yacht Club. Beyond Meat stock fell 20% this week because (as Jennifer Aniston said best) ‘they’re just not that into you.’ And Disney’s latest trick isn’t a new ride or a princess sequel: It’s sports betting (Mickey’s putting $100 on the Yankees).$ETH $BYND $DISGot 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 Friday, the real Friday, November 12. Last part of the week, I'm actually going to a Middlebury College football game to me. There you go. You're wearing your Friday outfit right now. You've got the flannel on.

You're getting ready for this. I'm going to watch from the stand. My mom's going to be there. It's going to be great. Are you going to get the purpose pleasure? We're actually going to Two Brothers Tavert and Noon. The only cheese steak that's one roll that they hollowed out. Great sandwich.

This pod is the best one, yeah. This is the best episode we've ever done. Jack, first story, what do we got? The newest trend in NFTs can be summed up by four words. Bored Apes Yacht Club. This story is about the Bored Apes Yacht Club. Bored Apes Yacht Club, four times fast. For our second story, Beyond Meat Stock plummeted 20% this week. Honestly, Jennifer Anderson said it best, Jack, he's just not that entity.

For our third and final story, Disney's latest magic isn't from rides or princesses or fireworks Shroes. No, the latest magic from Disney is sports betting. Mickey's got $100 bucks on the dolphins this week. Come on, Goofy. Come on Goofy. We got this baby. But Snackers, before we hit that wonderful mix. I love ending the week on this mix. The latest celebrity ghost kitchen is one of the largest restaurant chains ever. DJ Collett. He's doing a ghost kitchen and it's featuring not Bieber. It's featuring wings. DJ Khalid's ghost kitchen is called another wing. Because when you order another wing, you order another one and another. one and another one.

My favorite item on the menu is all I do is wing. We're talking 10 piece wings with two flavors and one dipping sauce. Yeah, all I do is wing. Now, DJ Cala drops bombs. So he's lined up 150 kitchens across the world as his restaurant chain. Here is the kicker. If you're in Miami, he's delivering those wings to you via jet ski. And we're serious about the Jetskis.

Now, he says that this is the world's first ghost kitchen to launch on three continents at the same time. And we believe it. It's a fascinating story because this is a collaboration with Reef technologies. Fascinating because we covered Reef in this podcast once. We did. In November of last year. Because Reef is converting shipping containers into workspaces in parking lots. Or into 150 wing kitchens for DJ Khaled so he can run a restaurant wing business for cheap.

Now, Jack, I believe we asked Reef if they could turn a shipping container into a podcast studio in a parking lot to a studio for us. We did. We asked him that on the podcast. And the next day, they did. They did. They marked up a snack studio picture. Sent us what it looks like. We could have recorded this from a shipping container.

So this story is a little personal. Congrats to Reeve. Congrats to DJ Callag. Let's hit our three stories. And another one. And another one. It's 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. For security. Right. Snacks is digestible.

Business news for you. Robberhood Financial, LLC, member Fenra slash SIPC. For our first story, do you want to know about NFTs? Do you want to know about NFTs? Then you should know the Bored Apes Yacht Club. The Bored Apes Yacht Club. Because NFT's most sensible use is in the Metaverse. First of all, life goal, get profiled in Rolling Stone magazine.

How are we going to make this happen? Is that named after the British rock band or Bob Dylan's, like at Rolling Stone. I feel like they were all named on the same day at the same time and it was just a complete coincidence. Well, guess what? Four 30-somethings who side hustled to start a project one year ago, they got profiled in Rolling Stone magazine. They did. And what their project was was a little thing called the board ape Yacht Club. Okay, first of all, a board ape is someone who goes all in on a pretty random investment. Pretty aggressive. Well, the board ape yacht club is a collection of artwork that is all tied to a bored-looking ape like a monkey. They're cool-looking pieces of art. There's 10,000

versions of a virtual ape. Yeah, you got like a monkey with a hat, a monkey with a frown, a monkey with some baggy jeans. There's that one with the purse, Jack. There are a lot of monkeys. It's like statistics, like multiply number of shirts by number of monkeys, jewelry, by number of hairs, by number of colors. By number of monkeys. And you get 10,000 different virtual ape artwork pieces. So Snackers, you can go to board ape, Yacht, Club.com. And you're going to notice there is a whole universe of pure unadulterated apery. Yeah, there's a whole world there. Like your ape, your digital ape, it can have a digital dog. It's called the board ape kennel club. It's messing with your head on three different levels.

And each digital board ape and each digital ape dog is for sale. It's an NFT. Yeah. You can purchase them by buying an NFT, a non-fungible token. There's one and only one of these images. And if you do, the ape is yours. You prove it with the token which lives on the blockchain. And if you own a Bored Ape NFT, congratulations. You are a proud member of the Club of Bored Apes. The Yacht Club of Bort Apes. But here's what Jack and I find fascinating about these Bored Apes. Those funky virtual monkeys didn't just go viral.

They created a community. Many members of the Bored Ape Yacht Club were physically in New York City for the NFT convention last week. So this was Ape Fest, a climax of NFT hype made up of real people who like virtual monkeys. And Sotheby's and Christie. are 100-year-old auction houses, they want in on this hype. So they are hosting auctions to give away Bored Ape Yacht Club Apes to the highest bidder. I get this, ape number 8,8,817.

Jack, how much did this virtual ape NFT sell for at auction this past week? $3.4 million. $3.5 million for an ape in the Board Ape Yacht Club. It's a real asset class, folks. And it's not just auctions. Universal Music is turning four digital apes from Board Ape Yacht Club into a digital band. That's right.

The world's largest record label is going to promote four virtual apes as online singers. They're going to turn those four apes into like an animated music video. I don't know whose voices or instruments are doing the music. Or if they're even good voices. But it's happening. Now to sprinkle on a little context here, this surge in NFT interest, it coincides with a surge in Ethereum, the cryptocurrency. Because Ethereum is the cryptocurrency that can act as the building block for NFTs.

Like the bored apes. So, Jack, what's the takeaway for our buddies over at the Bored Ape Yacht Club? NFTs are born on Ethereum, but they live in the Metaverse. Snackers, haters of NFTs, they're going to say this. They say, hey, I can own a Bored Ape for free. All I got to do is screenshot the picture I just saw on the website. And those haters are right. For example, Steph Curry has apparently purchased a Bored Ape and used it as his Twitter profile

picture. And so can you, if you just screenshot it and upload it to Twitter. Yeah, you can do that in real life. But Jack, can you pull that off in the Metaverse? No. Snackers, if Zuck has his way, we will be spending a big chunk of our days in the future in his metaverse. Yeah, the metaverse, the virtual world where we will get to by wearing virtual reality goggles. And in that virtual world, there can be rules that let you only display an NFT of a board ape if you own that NFT. Yeah. So like Jack, if I want my avatar to wear a

t-shirt with my board ape on it, only I could do that if I own the board ape NFT. That's right, because you have the token. And that token is the password to use that ape image. And only you have that token. Only me. So Snackers, on today's internet, anyone can copy and pay some NFT image of like a board aid. And claim it as theirs. But in the Metaverse, only one can own that one board ape.

Board ape yacht club. Now you know. For our second story, beyond meat, it's stock. It just plummeted 20% this week. To quote, Jen Anderson. Please, Jack. Just not that into you. Beyond Meat.

Okay. Do you remember when we invested in Beyond Meat stock, like right after the IPO? Wild Day. You and I both bought the stock on IPO Day. He's like, Jack, on three. It's actually still the only time I've done that on IPO. It was a fun ride. Well, the stock, like, it was up four or five X on that first day.

It was like a plant-based party and everyone was having seconds. Yeah, well, Beyond Meat stock is now down 65% from their all-time out. Yeah, get this Snackers. It used to be 235. four bucks a share. Now it's $81 a share. It's a quarter pounder. And this week, it dropped another 20% to an all-time loss. Yeah, because losses tripled last quarter. And that's not even the worst part. That's not even the worst part. Jack, what's the worst part? The worst part, this company is supposed to be growing fast. Like plant-based meat is young. And sales in the U.S. fell by 14%

last quarter. But we noticed that Beyond Meat kind of gave the old dog ate my homework excuse for everything we just said. Apparently, Beyond Meat is Doug funny. Oh yeah, we had labor shortages, bad weather, and there was an explosion at a factory, okay? What does weather have to do with burgers? What do you, Southwest Airlines? What's going on over there? Nick and I really think this is a

he's just not that into you situation. He's just not that into you. I don't know if Bradley Cooper really said it, or Scarjo, or maybe it began with Miranda. I'll tell you, all-star cast. Ben Affleck was in that, too. There were like too many people. There were like a dozen B-plus listers in that one, but also a bunch of A minus listers.

Dude, there were A listers. There were a lot of A listers. Well, Beyond signed a partnership with McDonald's. A huge relationship to score. Ronald was getting vegan curious. McDonald's has 14,000 restaurants. Everyone was excited for Beyond. It was called the PLT, the plant lettuce and tomato sandwich.

Cool name. Yeah. But McDonald's tested it at only eight locations out of 14,000. That was it. Just eight locations. Kind of lame. And then there was a Dunkin' Donut partnership. Yeah, there was.

That was exciting too. The Beyond sausage sandwich, promoted by Snoopal Loop. But then Duncan this summer ended the relationship. They just shut it down. Finally, Beyond Meat partnered with KFC. Yeah, they did. They've been testing this Beyond Chicken for a while now, like a bunch of KFCs, and they're still testing it. They're still testing it.

They haven't committed to each other. They're not moving in. They're not taking the next step in the relationship. So what we're trying to say is Beyond Meat, it looks like fast food customers just weren't that into you. Dude, there were A-Listers. So, Jack, what's the takeaway from? our buddy Ben Affleck and our friends over at Beyond Meat. Novelty can build a brand, but it doesn't necessarily build loyalty.

Snackers, Beyond Strategy, it was focused on partnerships with fast food. And they were the new fun novel dish beyond any. McDonald's and Dunkin' Donuts and KFC, that is where people could try out their first ever plant-based meat sandwich. Exactly. And that strategy, that made Beyond Meat the number one most recognized plant-based brand out of all of them. It was a good strategy, we thought. but it didn't get customers to come back for seconds.

And because of that, fast food just like wasn't that interested in keeping the relationships going and extending the deals. Novelty built beyond brand, but it didn't build beyond loyalty. For our third and final story before the weekend, Disney just announced honestly dismal earnings because Disney Plus growth is slowly.

But Disney just gave their parental blessing to sports betting. Okay, honestly, ever since the pandemic began, all people are talking about is Disney. Honestly, all you talk about is Nick, how come you're not watching Disney Plus? I'm always getting like peer pressure from Jack. Mandeloreen's a great show, but Baby Yoda is crying right now.

I'll get to it when I get to. I'm like working my way through your other 50 recommendations, Jack. Snackers, Disney just announced that Disney Plus only gained 2.1 million subscribers last quarter. Their smallest quarter of growth since launching in 2019. I watched the first episode of Succession and I like feel like you're not even happy about it. But I did that for you, man.

But here's the bigger problem facing Disney. Revenues for Disney are still below where they were from before the pandemic. And profits are still a quarter of what they were before the pandemic. But here's the thing about Disney Snackers. You don't want to forget about the kingdom in Magic Kingdom. Disney is also ESPN, the self-proclaimed worldwide leader in sports. Disney conquers all. And cable TV has been Disney's profit puppy for decades.

Anchored by ESPN. But cable TV is declining, obviously. Because every time somebody cuts a cable cord, Disney loses a potential sports fan and $8 a month in ESPN affiliate fees. So you're thinking, how can Disney offset the decline of the sports business that goes along with the decline of the cable TV industry? I don't know. Maybe they go all in on sports.

With sports betting. Boom, sports betting. Everyone's doing sports betting these days. Everyone's doing sports betting these days. I know what you're thinking of them. Like, no way Disney's doing sports bets. Disney's a wholesome family company. All part of this balanced content, Brett.

Bob Eager said it well back in 2019. He said Disney has no plans to engage with Gamble. Understandable, because bookies don't mix well with Snow White in the seven doors. You know what, Ursula and Jafar like cornering some guests in the theme parks here? Where's my money, man? Here, my tentacles will take the money from you. The Red Sox lost, so you're paying up or I'm taking away your pass. Hey, thinkerbell, I heard you put all your pixie dust on the Lakers in six games.

So until now, the worldwide leader in sports has not really participated in this booming sports betting trend. Well, shocking thing, Jack and I just noticed. Disney's newish CEO, he finally gave sports betting the Disney OK yesterday. Yesterday, Bob Chapec said that sports betting on ESPN is a very significant opportunity. that ESPN will be pursuing aggressively. And Disney Research, it shows that sports fans are craving gambling built into ESPN right now, which Disney owns. And Disney Research also says that if Disney put gambling on ESPN, hardcore Disney fans wouldn't be upset about it.

So, Jack, what's the takeaway for our buddy, the bookie Ersel and our buddies over at Disney? Some vices just aren't that vise. Yeah, that newish CEO, Bobby Chapeck, he specifically mentioned changing perceptions of the acceptability of gambling as why he's changed his mind. Gambling is accepted today. But back in the 90s, PBS was describing gambling. We saw it on one show as destroying individuals, wrecking families, and increasing crime. Did fantasy football, like, change that perception?

I think fantasy football has made sports betting, like, acceptable. Yeah. So, if Disney is the ultimate family brand and they're saying that sports betting is okay, then betting has won the debate. The vice has become less vicing. Disney is the last adopter. At this point, we have 30 states and Washington, D.C. They've all legalized sports bets.

Yeah, but it's not just sports betting because the public has come around to accept the formerly unacceptable as now acceptable. 19 states plus D.C. have legalized marijuana too. Jack, last year, we saw Oregon become the first state to legalize psychedelics. As vices become a little less visey, business opportunities are opening up. Jack, can you whip up the takeaways for us while you peer pressure me into season two of succession? Jeez, working my way through it, man. Nick, the board ape yacht club, the cheapest board ape right now is 32 ether,

aka $165,000. The board ape yacht club snackers, now, you know. For our second story, Beyond me, just announced that sales fell by 14% in the U.S. last quarter. Beyond, he's just not that into you. For our third and final story, Disney Plus just had their worst quarter of streaming growth yet. But Disney just blessed sports betting because vices are getting less vicy, which is just really fun to say.

Now, time for our snack fact of the day. This one tweeted in by Melissa from lovely Minneapolis, Minnesota. Nick, your fly is open. Okay. I think we did, though. Snackers, check the zipper on your fly right. Yeah, we'll give you a second. There you go.

And if you got a button fly, check your jacket. And your zipper fly, you're going to notice the odds are it says YKK on that zipper. Half the zippers in the world are created by that one company, YKK. You're going to do Shida. Well, Sadnik. Thank you, Jack. I cannot believe one company controls a global market this much. I've always looked at my zipper and just been like, what is the YKK on this zipper?

What is going on? It's a global dominator of the zipper industry based in Japan. The world's most subtle and most intimate monopoly. The snack fact is over. Zip it. Zip it. Snackers, you look fantastic today. It's Friday, so you got to celebrate the wins. Oh, I know how you should celebrate the wins this weekend, Jack.

What are you thinking? I'm thinking the cheese steak. You got to get a two brothers cheese steak. Two brothers tavern. Best cheese steak in all of central Vermont. It's a single real of bread that they poured the chief steak into. I mean, I just can't, it should be, you know, honestly, make an NFT. Zuck, can we see this in the Metaverse?

Well, you don't want the steak and cheese drippings to fall out of the sandwich. It solves the drippage challenge. Nick and I, we'll see you Monday. Can't wait. And before we go, congratulations to Man Spire, who just submitted like a dozen college applications and he just turned 18. Congratulations to Miriam, who's going home to Sydney after five years. Wow. And congratulations to Ingrid and Alejandro, who just had their anniversary down in lovely Puerto Rico. Lauren Kay just had her first baby in Covington, Louisiana. Congratulations.

And a spoiler here. Are we doing a gender reveal? You want to take the honors on this one? It's pink. It's a girl. Congratulations. And happy birthday to Philip Cabasines from St. Albans in the United Kingdom. And Eric Neal in the Big Apple. And Michael Yang, turning 31 in Queens. Happy birthday, Carly Holt in Memphis, Tennessee. And Mike Rand, happy 21st in Tuscaloosa, Alabama. Happy birthday to Emma Bloom in Fort Wayne. And Adida A in Westchester, Pennsylvania. And Adam Rosenberg in in Fort Myers, Florida. And Elizabeth Aredondo, happy birthday with the logistics in Chicago. And happy birthday, Michael Mapfumo in Brooklyn, New York. And happy birthday to Ryan in New Jersey. Congrats to the Black Sheep Foods team on launching plant-based lamb in San Francisco.

He is into you. It wasn't real and it was fantastic. And by he, I mean, Nick is into you. That's delicious. This is Jack. Nick owned stock up beyond meat and Nick and I both own some Ethereum. 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. Robynhood Financial LLC, member FINRA, SIPC. Dude, there were A-L-L-L-L-STERs.