The Best One Yet - 🏖️ “The Host Economy” — Airbnb’s home-fluencing. Vuse’s approved eCig. The Government’s grand intervention

Episode Date: October 14, 2021

The Creator Economy gets all the attention, but Airbnb thinks a new thing will get just as big: The Host Economy. For the 1st time in history, an ecigarette just got FDA approval because Vuse is Moving Slow & Asking For Permission. And chips, ships, and ransomware are messing with markets worldwide, so the government just kicked things up a notch this week.$ABNBGot 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, October 14th. Today's Paul. Preach Jack. Is the best one yet. By the way, happy double season to you.

We got two seasons going on right now. Football and baseball? We got leaf season and earning season. Where are you? For our first story, the new American dream is to quit your job and join the creator economy. One thing, though, Airbnb says there is another thing that's going to be just as big, the host economy.

For our second story. For the first time ever, the FDA just approved an e-cigarette. Yeah, I'm sorry, Jack. I thought they were working on coronavirus. Can you repeat that one? The FDA approved an e-cigarette. It's called views, and it isn't moving fast and breaking things. It's moving slow and asking for lots of permission many times.

Slowly. For our third and final story, three major shortages have been messing with the economy for months. Well, we just noticed that governments are staging three interventions to fix them this week. TP on you. It was my grammar correction. No, I thought it was fair. You get an A-minus for attention to the details. Mark Zuckerberg, it's moved fast to leave and break this. Mark dropped out, so that's his excuse. But Snackers, before we hit that mix, a wonderful mix. The mafia's been having some issues lately.

Yeah, the mafia's having trouble, not with the FBI, but with millennials. We're talking about the Italian mob, the Cozenostra, the godfather. Yeah, the Corleone's greatest threat these days is a, it's a 33-year-old. running their operations. According to the Wall Street Journal, older members of the modern mob are complaining about younger members of the modern mob. Yeah, the old mafia guys are complaining that the younger guys grew up in the suburbs, not the streets. Maron, these kids are scrolling Instagram. They're not learning from their elders. Oh, by the way, the pay phones, Jack, can we talk about the payphone situation? Pay phones. The mob's communication of preference, they don't exist

anymore. Tony Soprano can't like tell you to call him in three minutes from that particular pay phone on the side of the turnpike. Gabagul, no thank you. Do you have any tofu bond me? That provolence dairy free, right? Now, but here's honestly the best line that Jack and I found. Incredible line said by one of the top mafia guys of the Colombo crime family. Everything is on the phones with that. Yeah, what's with these millennials texting away? First, millennials got brain for ruining call. Then we got blamed for ruining marriage and home ownership. Now we're getting blamed for ruining the mafia. The one thing we haven't ruined,

it's the canolies. We don't make a gluten-free. Forget about it. I'm going to make them an emoji. He can't refuse. What's in every? Bada bian. 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. We're not recommending any securities. Nope.

It's not a research report. or investment advice. Not an offer or sale about security. Right. Snacks is digestible. Business news for you. Robberhood Financial, LLC, member Fenra slash SIPC. For our first story, everyone is talking about the creator economy, but Airbnb thinks there's

one thing that's going to be just as big. The host economy. Yeah, host economy. By the way, 4.3 million Americans quit our jobs in August. Great resignation. A lot of people quit. That's the most people joining the fun employment roles in one month ever since the government's been keeping track. It's tired of having a boss, tired of come to the office, working down to five, doing the thing where it's like, hey, Darlene, how's the weather?

Everyone knows. So the new American dream is to join the creator economy. It is. The creator economy. What's the formula for the creator economy, by the way? Create something. Distributed online. Monetize it somehow and be your own boss.

Jack, did you hear that Jesse step down? She started a podcast newsletter that's streaming on Twitch and she monetized it with a merch store. Exactly. 50 million humans globally are now making a living in the creator economy, according to signal fire a venture capital. Okay. 50 million is a huge number of people, but then Jack and I noticed a bold line coming from the company Airbnb. The host economy will be just as big as the creator economy. Okay, let's look at the numbers here. 50 million people have quit their jobs and joined the creator. economy to just create stuff. But less than 6 million people have places listed on Airbnb.

Okay. So less than 6 million hosts on Airbnb. Jack, how many hosts are on VRB out down in Austin? They actually go by Verbo, according to their latest commercials. And there's 2 million hosts on Verbo, less than 6 million on Airbnb. So a ton more creators than there are hosts right now. That's how it's feeling. So if the Airbnb executive is right, that means that their business is going to get bigger, like way bigger. Like almost 10 times bigger. So here's what Jack and I are thinking. The creator economy is huge.

But can a $500 a night treehouse, Airbnb in the Redwoods have the same economic role as newsletters, podcasts, and influencer accounts? That's the big question. But Nick and I actually think that the creator economy and the host economy are shaped by similar forces. They're just playing out in different mediums. Yeah. You need an income.

You monetize a passion. Your passion. Podcast for one. There we go. Condo for the other. Case in point. Jack, remember my birthday weekend? We recorded that pod.

I was at the Tahoe A-frame ski house on Airbnb. That's like a proper noun because that's an Instagram account with 16,000 followers. Snackers, we're talking about an Airbnb that literally has an influenced following. 16,000 followers. We're talking about an Airbnb and an Instagram account. Greater economy meets host economy. So, Jack, what's the takeaway for our buddies in the brand new host economy? If content is king, then hosts matter most.

Snackers, dirty little secret about the tech platform. So get up close to the speakers. Here it is. They can't exist without the content that you post. Without content that you post, these platforms are just blank feeds. You can't even scroll them. And that's why Facebook and Instagram are paying a whopping $1 billion to creators this year to keep them from leaving the platform.

I need them. Zucks like creators, stop using TikTok. Please stop using TikTok. Here's a check. You just tell me the amount in a name. Now, for Airbnb, listings of like your condo or your house, that is the content. And hosts own the listings. And that is why Airbnb mentioned the word gas 787 times in their IPO paperwork, but they mentioned the word host over 1,100 times in that same paperwork. And that's also why Airbnb is constantly saying hosting is at the center of Airbnb's business. If content is king, then hosts matter most. For our second story, for the first time ever, honestly never thought we were going to even say this headline, Jack. An e-cigarette just got FDA approval. Food and drug administration just approved views, views. Because it did the opposite of what Jule has done. First of all,

this was like the year of the vape purge. They were out of here. Shame, shame. Shame. Out of here. Shame. Shame. Shame on you. Thousands of Jewel-like vaping products have been kicked off the market by the FDA, including puff bars. What is a puff bar?

Is that a snack? Puff bar is the vaping product that is now most popular with teens, having overtaken Jewel's throne. It sounds like a new Pringle. In the meantime, though, one company has not been purged by the FDA. And that company is the Vue's, the Vue's solo. Stepping back, Jewel is owned 35. by Altria, which is a major U.S.-based cigarette maker.

Views, though, is owned 100% by R.J. Reynolds, which is the other huge U.S. cigarette maker. And Vuez just got FDA approval because it's doing what Jules said they would do, but didn't actually do. Yeah, Vuez is not about addicting a new generation of people to nicotine. That's what Jewel was doing. Views is marketed to people who are already addicted to cigarettes and who are adults and who want to replace very harmful combustible cigarettes. with less harmful e-cigarettes.

Now, the two keys to the Vue's product are, first of all, it has a U in it, and you aren't a vaping company unless you have multiple U's in your name. That's right. The second key is no tody-frutty flavors allowed. Yeah, this isn't like a jamba juice flavor situation with three mangoes. The FDA has only approved the Vue's e-cigarettes that are tobacco flavored, which they describe as less appealing to teens. So if, like, Jewel was pumping out bubble gum flavors before,

this company views is only doing like broccoli flavors. And the FDA knows, given the history of teens and high schoolers and middle schoolers vaping in the U.S., they know it's risky to approve an e-cigrat at all. But the FDA said there is a potential benefit to smokers who switch to something like views, and that would outweigh the risk to use. But this all comes down to marketing, because marketing is how Jule became a verb with teens. Teens flocked to Jule because it was marketing like Frosted Flakes used to market. That's why you had cream of caramel flavors. Right.

So, Vue's has permission from the FDA to advertise on TV, but not on shows that are commonly watched by teenagers. But teens can still find the ads for Vue Z cigarettes on YouTube and social media, which is where they're going to be. Yeah, you'd think the FDA would limit commercials for e-cigarettes, just like they limit commercials for regular cigarettes, but I guess they don't. They're not, in fact, shockingly, the FDA is letting views use celebrities and influencers to sell views vaping. That sounds like the wrong move personally. It sounds like a strange move. So, Jack,

what's the takeaway for our buddies over in the vaping industry? This is the first major test of move slow and ask for permission. Yeah, Snackers off. Facebook, mood fast and broke fast and social media. Uber move fast and broke things and they're still number one in Ridehouse. And Jewel move fast and broke things. They're still number one in these cigarettes, even though the FDA has not even approved their product ever. Well, Views is testing something. something else. They're moving slow and asking for permission and trying to become number one that way. So will Hughes's regulatory blessing help it overtake Jewel or is it too far behind? We'll see. We're going to see. For our third and final story, Jack, do you think the

mafia would like our podcast? Think they would like us? No, I don't. I don't. I don't think we would work well in that industry. Third story, the markets are failing in three key areas of this economy right now. Ships, ships, and ransomware. Yeah. some wear, but the government is getting involved starting this week. Big deal. Snackers, every Monday, the hoarder's almanac, our tracking of the strange supply and demand imbalances we've had during the pandemic. We love whipping it up for you. Things we run out of during the pandemic. First you ran out of toilet paper, then hair clippers, then pool chlorine, then chicken wings, and then Jack, I know you got a travesty going on up north over there, right? We're out of

toilet paper again, in Vermont. It's not a good look for my state, but people are hoarding the sharp Life comes full circle. Ironic because there are so many trees. But there are three problems way more impactful than toilet paper and are affecting the entire market. Yeah, not just a single company. And those three market moving things are first, ships, supply chain jams. You know them.

Whether it's Nike sneakers or like a wooden dresser you ordered 14 months ago, stuff is stuck on ships just outside the port of Los Angeles. Second big thing we got a problem with is chips, like the global semiconductor shortage. From cars to iPhones. They need chips. We don't have them. And then finally, you got chips. You got chips.

And then honestly, like, we checked a thesaurus. We couldn't find a third thing that rined with this, but ransomware. Yeah. Ransomware. You hack a company. You blackmail the company. You demand a ransom. That's the unfortunate new thing.

Jackie, you whipping up like the beginner's guide to ransomware over there. How to do ransomware for idiots. This is what you. It's a four-step process. Brought to you by Jack and Nick. But stack is this week. Yeah. The tides have turned because the government is taking major action to try to fix all the record.

First, on chips. What's going on with chips, Jack? Well, the Taiwan Semiconductor Manufacturing Corporation. Brutal name. He's partnering up with Sony. They're considering building a huge new chip plant in Japan. And here's the key snackers. The government would reportedly pay for half of it.

And so badly we need chips. In the Ships Department, the Biden administration invited the Port of Los Angeles and a bunch of private companies yesterday to the White House. We're talking the biggest port in the United States, Los Angeles. They've decided to expand the port of Los Angeles to 24-7 operations in order to fix the bottleneck so that your shoes or wooden dress or arrive on time. You know, you got to get the Air Jordans there. So you got chips, you got the ships.

And then finally, again, doesn't rhyme, but ransomware. How are we fixing ransomware? The White House is hosting a virtual summit this week of 30 countries to brainstorm how to fix this ransomware problem. Basically, they're whipping out a whiteboard and all of us. Maybe they'll agree to make it illegal for a company to pay a hacker's ransom. That would be nice. If paying a ransom is illegal, then hackers could stop hacking because they're not going to get paid because

it's illegal. That's the final chapter in our ransomware book. So, Jack, what's the takeaway for our buddies over in the entire United States economy? I would say actually the whole world. Let's go with the whole world. What's the takeaway? Free markets are extremely efficient, but free markets sometimes fail. Snackers, that is why governments exist, fundamental economics, to intervene when market forces fail.

Now, of course, there's political debate about how much to intervene, but there's no debate about the need for intervention in market failures. Jack, we got ourselves maybe a classic government intervention example, public schools. If we had a chunk of the population that couldn't afford education and therefore couldn't read, that would be a disaster for our society. If so facto, that's why the government provides guaranteed schooling, K. through 12. To fix a market failure. Well, more broadly for the entire world right now, chips, ships, and ransomware are problems that the market is failing to solve in this moment. That is why governments from the U.S. to Japan are starting to intervene. Jack, can you whip up the takeaways for us over there? Airbnb thinks the hosting economy is

just as big a deal as the creator economy. Content is king, but hosts matter most. Views is RJ Reynolds's e-cigarette, and it just got FDA approval. R.J. Reynolds is moving slow and asking for permission very politely. Chips, ships, and ransomware. Not enough of the first two, too much of the third. Markets aren't fixing it so governments are intervening now. Time for our snack factor the day. This may be per second from Savannah Westwood from lovely Orlando, Florida. I don't want to read this one because I have a recurring nightmare about alligators nipping me in a pond. So you go ahead, Nick.

Snackers, we're going to skip. the snack fact this week on account. Trigger warning for Jack Kramer, co-host of the podcast. Alligators and crocodiles. Not the same animal, not the same homes. All right. My mom's from Gainesville, Florida, so I'll continue.

Thank you, sir. Everglades National Park in Florida is the only place in the world, which is home to both crocodiles and alligators. Yeah, and to distinguish between the two, should you run into this situation, alligators have a more... In your nightmares. Alligators have more U-shaped snout in reality,

and nightmares while crocodiles have a more V-shaped snow. Alligators are black while crocodiles tend to be light brown. Crocs tend to prefer salty waters. Gators hang out in fresh water. If you see something and you're not sure if it's a crocodile or alligator, run away. Don't take the time to figure it out. Alligators do decaf. Crocodiles prefer caffeinated that purchase.

Snackers, you look fantastic. Are you okay? Do you survive this? You doing okay over there? Yeah, I'm a lot. I'm a huge gators fan. You of that. You look like you're in great shape.

I think you're better off after that snack. I'm actually like Bruce Wayne. He's terrified of bats. Okay. He loves bats. It's the same with me. Gators. That feels like a humble brag about your biceps.

Snackers, you look fantastic today. If you haven't yet, tell a friend, get him snacking. Ask them H-Y-H-Y-S-D. Have you had your snacks deal? If you know, you know. See you later. Alligator. And before we go, shout out to the snacks fans on Instagram who have a new segment on Reels,

whipping up the takeaways from every one of our episodes. They managed this account from Philadelphia, PA, Snacks fans on Instagram. And happy birthday to you, Patrini over in Arles, and Otto Ramirez in Louisville, Kentucky. And Don Roy's turning 60 in Portland, Oregon. Happy 17th to Spencer Merced in Queen Creek. And Rico Wang hasn't missed a day of snacks, also celebrating a birthday in Midtown Manhattan.

Happy birthday, Eric DiVanizia in Flanders, New Jersey. And Kelsey Flynn in Solana Beach. And Tenzin, Chofield. in Cambridge Mass. And Army legend Tommy Morin in Weston, Florida. Congrats to Matt Greer, who has been running his startup, which does lawn games for a year in Boston Mass.

And Michael and Ammon Silver, happy fifth wedding anniversary in Sacramento. Anybody else celebrating something today, make it a T-boy. Celebrate the wins. This is Jack. Nick and I both own stock of Airbnb. 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 Robintob Markets Inc., Robinto Financial LLC, or any of their subsidiaries or affiliates. All investments involve risk, including loss of principle and past performance,

does not guarantee future results. Robin Hood Financial LLC, member FINRA SIPC. Here's a check, you just tell me the amount and a name.