The Best One Yet - “We made the 1st ever podcast NFT” — LEGO goes norm-core. Netflix ends password sharing. Coupang out-Primes Prime.

Episode Date: March 15, 2021

LEGO is winning the toy world by going hardddd into normcore. Netflix is testing tech that prevents you form using someone else’s password. And the biggest IPO of 2021, South Korea’s Coupang, is actually the biggest innovator in ecommerce.$CPNG $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/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 Monday. Welcome back, March 15th. Give us back our hour of sleep. I guess we got like in exchange one hour brighter dinners. Yeah, actually one hour less sleep in exchange for six months of an extra hour of daylight.

Sounds like a good deal. I can actually see the meat love now. Now I can see it. This also happens to be our best snacks daily yet. Jack, first story today. Toy legend Lego just announced earnings and it's going full on norm corn. Okay, Phoebe gets a Legos, Monica gets a Legos, Ross gets a dinosaur Lego. For our second story, Netflix is cracking down on password sharing. It's finally happening.

Jack, we got to patch up Netflix's leaky faucet situation. For our third and final story, the biggest IPO of 2021 so far is e-commerce icon Khopong. Koppong, because South Koreans are doing double the online shopping that whatever you're doing doing. Snackers, before we hit those three stories. Wonderful mix. Get ready for this. There's a big update on non-fungible tokens. Big update. NFTs, the one-of-a-kind digital images, videos, and other things you can look at on your smartphone

verified on the blockchain. Think collectible baseball card, but crypto version. And last week, we told you a video of LeBron turned into an NFT, sold for $200,000, Jack. Then Jack Dorsey turned his first ever tweet into an NFT. Adorable. And he's asking for $2 million for it. And then, casually, a piece of art sold.

last week as an NFT by Christie's for a whopping $69 million. So guess what, Snackers? Nick and I, we created an NFT. Bigger news, we think we created the first ever podcast MFT. Anybody can listen to a Snacks Daily episode, but there's only one NFT of a Snacks Daily episode. Okay, we're going to jump in Snacks on this. Honestly, Jack and I, we spent, you know, give or take it, the entire weekend trying to pull this off. We have to basically mine some Ethereum to do. with us. A Ethereum, a cryptocurrency that sounds like an ancient Greek disease. That's what it sounds like. And then, then here's what you do. After you get the Ethereum, it's like sitting on it, you turn your podcast episode into an NFT. It's not fun. No, it's not.

There's so much friction I've got sunburn. It's like a 48 hour complex process. We don't recommend it for anyone. After two days, we found a site called Cargo, made it a lot easier. But now there is if so facto a snacks daily episode on the blockchain, Jack. It is unfundated. You can't fund us, baby. No one's got to fun just. Here's the best part Snackers. Guess what episode of Snacks Daily we turned into an NFT?

The Snacks Daily episode we turned into an NFT is our Snacks Daily episode about NFTs. Booyah, baby! We're not taking any bids on this yet. Actually, we have no idea what we're going to do with it, to be honest. We have an NFT. We don't know what the value is, but it's a Snacks Daily NFT.

Follow us on Twitter and Instagram at Nick of New York, at Jack Kramer. We're at Robinette snacks. We're going to figure it out there. We'll share this NFT. It's the best one yet because it's the only one. Yeah, it's in 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. We're not recommending any securities. 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. For our first story, we got Moochapalooza over here. Netflix is cracking down on password sharing. This is a PSA. The era of one Netflix account for your extended family and your partner's extended family is ending. Oh no.

Netflix password sharing. Jack, the most socially acceptable crime in America. That's what this is. Do you know how many people you shared your password with? This is Officer. It is so widespread, Nick. because Netflix doesn't seem to care about it. Yeah, they don't.

Jack and I jumped in Snackstyle. Apparently, like one research firm says, about a third of users share their passwords. We think it's, I don't know, give or take a lot more than a third. That's a gross understatement. It is. Netflix hasn't done anything to stop it, really,

except occasionally blocking you from viewing when someone else on the same account is viewing at the same time. Which leads to an awkward question that you get in the high school ethics class. Is it stealing if Netflix leaves the bowl of candy on the front porch? With a big sign that says candy right here.

Right here. That's basically what Netflix has been doing. Here's the scooper. We'll give you the bag. Be on your way, people. But Snackers, this is a true story. The crackdown is officially coming to Netflix. Jack, suppose you've been borrowing,

I don't know, your brother's password. You're the only one here of brothers. Yeah, what's the situation there? Suppose you really appreciate your brother. Let's call him Tuck, in this case. Tuck Raymer. And Tuck even set up a profile for you on his Netflix.com account. There you go to Netflix.com.

It's going to show, hey, are you tuck? Are you Anteem? Are you you? Each one gets a watch list. Each one gets recommendations. Netflix has been so accommodating to password check. The lax policy has been incredible. They're like serving these up like Kit Katz. Just giving away, trick-or-treating. But according to news website, The Streamable, some moochers are being greeted by an unwelcome new message when they use someone else's password to log into Netflix. This is straight out of Reed Hastings' lawyer's playbook. You're going to get this gem message from Reed Hastings lawyers.

We noticed you're not in the home this account is registered to. Please confirm that you are tuck. By entering the confirmation code, we just sent tuck. And if you're not tuck, which, come on, we know you're not tuck. Oh, yeah. Why don't you go ahead and set up your own account? Reid, say it ain't so, man. Netflix confirmed it, Nick.

It is so. Okay, so Snackers. Only some people are going to see this. We bet Netflix is testing it on like 1% of its users right now. And then they're going to watch the I. of previous moochers. And they're going to say, okay, we're stopping them for mooching. Did they respond by setting up their own Netflix account like we want them to? Or did they stop watching Netflix?

If enough people set up a Netflix account, then Netflix will probably explain this test to all 100% of Netflix users. But if moochers end up quitting Netflix because of this, Netflix might be like, damn. Okay. We might as well keep letting a mooch. Just give way the candy, stay as socially relevant as possible. So, Jack, what's the takeaway for our buddies? Why are you doing this over at Netflix? It's time for Netflix to fix its leaky faucet.

It's a leaky faucet situation. It's when you've got the cracks in your businesses, pipes, and that's causing lost profits. For Netflix, there's been huge amounts of potential revenue dripping to mootures over the years. Netflix didn't care because its priority was to become the number one streamer in the world, expand as fast and as wide and as far as possible. Netflix with 200 million subscribers has clearly achieved that goal, and now it is time to finally patch up the leaky faucet. When a company's in hyper-scale mode, the leaks, the leaks are okay.

When your company's made it, oh yeah, patch up the leaks. For our second story, this one's wild. Legos, it shouldn't be thriving in a screen world. No, it shouldn't. No, but according to its earnings, Legos is thriving in a screen world. This is a great snack fact. Somebody sent this in after our show about Goodyear Tires. We actually promoted this up to this story.

We couldn't find the tweet, though. So someone, did you delete your tweet about this? Here was the tweet. All right, the largest tire maker in the world, it's not Bridgetown. It's Legos. It's Legos. Plastic, not rubber. Now, the Christensen families, who's behind Legos, they've been making toys in Denmark since 1932.

And the company is still run by the Christensen's. It's a private company owned by the Christensen's, but they do report earnings publicly like a public company does. Yeah, it's Sumo, straight up missing out for us. But we appreciate they do this. Thanks for doing that, Lego. The CEO points out a challenge for this, you know, plastic toy company. Kids today are digital natives.

That should be like a huge problem for Legos, because it's been a really big problem for Mattel and Hasbro the last couple years. Right. Kids don't want Scrabble blocks. They want artificial lenses to like swipe right on. A-I-I-R VR VR goggles. But Lego just had its fastest growth in five years. Revenues jump 7%. Profits popped 11% last year.

We think it's because Legos is leaning hard into Normcore. Normcore. not about having the cutting edge, it's about having the edgeless cut. Snackers, Normcore is a fashion thing. It's a trend of 90s fashion coming back, but we think 90s toys are coming back too. Jack and I jumped and snacks out, guess what was a big seller over in Lego's earnings? Something from 1994, basically. Friends, the TV show, Central Perk, you can set up the whole coffee shop with Legos. They made Legos out of a TV show that ended before the iPhone came out. They didn't pony up millions of dollars to Disney to make Olaf Legos, although maybe

they did. I'm not sure. Yeah, maybe they did. But apparently they're selling a lot of Legos with Monique and Phoebe and a whole bunch of latte art. Another top seller from last year is the Ghostbusters car, which costs $200. Yeah, this thing is complicated. There are a lot of pieces. You need like a PhD to finish this thing. Funny thing we noticed though, both friends, the TV show and Ghostbusters the movie, those mean nothing to children these days. Absolutely nothing. Which must mean that parents are playing with their kids these days, especially if they're all at home. Kids get to play with the toys. Parents get some nasty. doubt. And so, Jack, what's the takeaway for our buddies in Denmark over at Lagos?

Legos isn't going digital. It's letting digital come to Legos. Edline sounded less profound, Jack. But all these anti-digital moves by parents, Lego still ended up going digital without trying. Thank you for saying the sentence correctly. According to the Lego CEO, every 2.7 seconds, someone posts a Lego creation on social media. Yeah, 2.7 seconds, another Lego pick. So while Legos is focusing on the physical block, Another Lego pick. Another Lego pick. You're doing the Instagram marketing for them.

A third Lego pick. Legos didn't go digital. No. Digital found Legos. Please IPO Legos. We would love if you became a publicly traded stock. Mockenzy Schnell. For our third and final story, we got the biggest IPO of the year.

So far, it is South Korea's copon, which is showing that geography can determine design. Copon. All right. Founded by Bomsa Kim, who drew. dropped out of Harvard Business School, started the company Coppong in 2010. The best founders of dropouts, Nick. He started what many are calling the Amazon of South Korea, and the IPO happened yesterday. The stock jumped. It's now worth $90 billion. $90 billion. Copon basically said, we want to access U.S. investors, so now it's trading on the New York Stock Exchange.

Revenue last year for Copon, it doubled to $12 billion. But like Amazon, copon doesn't plan to profit for years. They're reinvesting everywhere. want in growth. But here's the thing, Snackers. Copon is not your typical e-commerce company, and you can't think of it that way. First of all, they have no plans to expand beyond Korea. They just want to, like, dominate their home country. That's it. Oh, and then Jack and I jumped in Snacks style to the S-1. We control F this thing. They mentioned the word self-triving zero times. They didn't mention it a single time. But they mentioned drone delivery. Yeah, they did. Also zero times. Yeah, they did. Zero times. This is not your typical e-commerce company. Nick, it's also

out e-commerceing the rest because they are out priming Amazon Prime. Copon is doing things no other e-commerce company is doing these days. Case and point, rocket delivery from Copon. That is guaranteed same day, any day delivery in South Korea. Oh yeah. Forgot a gift, Christmas morning earring miracle, courtesy of copon, they'll make it happen. Another service is even more intense. It's called dawn delivery. Don delivery. Here's how this works. If you order from copon.com before midnight, even one second before midnight, they'll get it to you by breakfast. 11 p.m. bacon and pancakes craving, they'll get you the bacon by 7 a.m. on your doorstep. It is wild. Oh, and then get this snackers. 75% of copon shipments have no cardboard packaging, none at all.

One of our big wishes of two years ago was for Amazon to introduce a naked shipping policy where you could opt to not have cardboard boxes to reduce waste. Jack, we literally tweeted this at Amazon. They haven't even put 40 MBAs on this yet. But Copon is doing it with 75% of their packages. Oh, and then get this. If you want to return something to Copon, you don't have to box it up and schlep over to CVS and FedEx. You just leave it outside your front door. Yeah, you tell the app you want to return the package you just bought, and they're like, okay, leave it outside between three and four. We'll take care of it. So, Jack, what's the takeaway for our buddies over at Copan? Location can shape a company. South Korea is only 52 million people, but it's an online shopping paradise.

It is number one in the world in terms of highest percentage of retail sales happening through online shopping. This is wild. Two of every five things bought is bought online in South Korea. Okay, then you've got the culture of South Korea. They've got a 9-96 work culture. 9 a.m. to 9 p.m. 6 days a week. So customers, they don't have much free time. They want packages delivered stat. So Copon focused on same-day delivery from the start. In South Korea, there are no giant logistics and shipping companies like we have UPS and FedEx in the U.S. So Copon built its own logistics network from the start. And finally, geography. South Korea's mountainous country means that most people live in the valleys and are condensed in cities. Incredibly dense population.

So Copon fulfillment centers are within seven miles of three quarters of Koreans. That is how they're able to deliver bacon seven hours after you order it. Copon is the innovator of e-commerce because South Korea innovated copon. Jack, can you whip up the NFTs or just the epi or the takeaways for us over there? Netflix is cracking down on password sharing. Billions of revenues leaked. Time to patch the leak. Legos went hardcore into normcore.

Didn't go to digital. Digital came to it. For our third and final story, Copon is able to do things that are impossible in the U.S. because of geography. South Korea is how Copang is out prime and prime. Now, time for our snack fact of the day. This one sent in from Erica Balbuena in lovely San Francisco right down the street. Ray Montague is a hidden figure of American history.

Okay, born into a segregated Arkansas in 1935, her dad showed her a captured German World War II sub, and that was critical. That inspired her to eventually become the Navy's first female program manager. All right, then this is where it gets wild. She revolutionized like the whole way the Navy designed ships using a computer program that she developed herself back in the 1970s. Remember Snackers, in the 1970s, computers were like the size of a tank. Yeah, and she just did one of those. She just made it. Snackers, we want your snack facts to celebrate women's history month.

So we got a link in the notes of this episode where you can submit yours. Send us your snack facts. Get on the pod. Ask your friends, H-Y-H-Y-S-D. Have you had your snacks daily? We'll see you tomorrow. If you know, you know. And before we go, happy birthday to Asba and Raye Khan, a mom and daughter who have the same birthday. Happy birthday to David Santana in Fontana, California. I love that that rolls off the tongue. And Jorge Correa in Teguizigalpa, Honduras.

And Michael G. in Detta, Massachusetts. And Melanie in Brentwood, California. And Olivia Marquez in Woodstock, Georgia. And Chris Braley in Kansas City, not in Kansas, in Missouri. And Jose Salazar in Caracas, Venezuela. And Ana Angeles in Vallejo, California. Happy birthday, Sheldon in London, Ontario, Canada, and Ann Aruta Desai in Jersey City, and Annaa Stout in Deerfield, Illinois.

And join Ma in Boulder, Colorado. Congrats to Esteban Gonzalez, who has a new job in Dallas, Texas. Meanwhile, Zach Gwainan has a new job in San Francisco. Congrats to Ian Lichtenstein, who got into medical school in my neighboring state, New Hampshire. And Coho bought a home in New York City. And congrats to Percar and Elizabeth, who are getting married in Pensacola, Florida. May you have many, many oysters. This is Jack. I own stock of Netflix.

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 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.