The Best One Yet - 🧼 “You stopped washing your hands (admit it)” — BeReal’s anti-Insta app. TurboTax’s lawsuit. Honest’s awkward soap.

Episode Date: March 30, 2022

You can tell us the truth: Are you washing your hands less? Sanitizing not-so-much? Jessica Alba’s Honest Co stock fell 20% because it appears so. BeReal is the anti-Instagram app trending on campuses because you get just one post a day… and they choose when. And just in time for tax season, TurboTax is getting sued by the FTC for messing with your tax season.$INTU $HNSTGot 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: 2102091Learn 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, March 30th. First, Ukraine and Russia, there are ceasefire talks happening right now. Yeah, Russia may actually scale back into Tax on Keefe. That is great news. Wall Street loved the progress.

And stocks rose big yesterday. And today's pod just happens to be the best one yet, TBO1. Yes, it does. Yes, it does. Yes, it does. For our first story, the newest trending app everyone's talking about is everything Instagram isn't. This is amazing. And be real. It gives you one post a day and they decide when you can post it.

They decide when you have to take a picture. It's a wild start. They tell you when you post it. For our second story, taxes are due in 19 days. This is just great for enough check. Well, the FTC has sued TurboTax, alleging they're messing with us during taxes. TurboTax, just a perfectly timed story. Third and final story check? Honest company plummeted 20% in one day because of something we got to discuss. Okay. Snackas, we got to discuss.

to talk about this. Have you stopped washing your hands as much? Guilty. Yeah. I don't let that one sit there. Guilty. Lilty. Snackers, before we hit that wonderful mix. Just a fantastic mix. We're checking out the hoarders' almanac. The first ever midweek hoarders omnis. Yeah, Snackers, things were running out because the pandemic, Jack and I have been keeping track for you. Typically, we open up this book on Mondays. But this Snackers, this is an emergency hoarder's ominac. Because this week, we're running out of Chris Rock tickets. Chris Rock tickets. If you want to see Chris Rock Standup Live, you can't.

There's no room, no space, no seats. More tickets have been sold to Chris Rock stand-up comedy shows in the last 24 hours than there were in the last 24 days. Jack, I'm looking at the map right here. Let me read it to you. Vegas, Denver, New York City, Toronto, Dallas. Sold out. Sold out. There's like five events in Boston coming up.

They're all, like good luck on Stubhubhubbh. Prices are high. Chris Rock tickets, they're the new Hamilton. Before Chris Rock got slapped at the Oscars on Sunday night, the price for a ticket to a Chris Rock show was $46. Just 46 bucks, according to Tick Pick, which tracks these kind of ticket prices. After the slap heard around the world, they're selling for $341 on average. We'd love to see Chris Rock live, but we ran out of Chris Rock live. Prices have 7xed to see Chris Rock and a microphone stand on stage and try to make you laugh. Chris Rock, he's doing more than Bitcoin lately. Let's hit 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 to hear ain't food. It's air candy. They don't reflect the views of the Robin Hood 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. For our first store, the newest trending app on college campuses is the opposite. The total opposite of Instagram. It's called Be Real. And they tell you when you have to post.

So whatever you post, it's not going to be Insta perfect. It's like guaranteed not to be. What do we call this? This is like anti- Instagram. Anti-Internsagram? An Instagram. Yeah. It's like Instagram casual?

I wouldn't call it. Okay, okay. Dine Instagram, Instagram light. Can we work on one of these? No. What's Instagram backwards? Mammista. We have to prepare for this pod more advanced for that check.

Plum. Bloomberg Snackers, Bloomberg was basically going across college campuses. They noticed a new app was trending and it's Be Real, which isn't social media. It's more like authentic media. If you open up Be Real, it's going to look like Instagram. It will. It's a feed of pictures that your buddy's took. But then basically over at Be Real, they said, you know what?

We're going to do like literally the opposite of everything that's in Instagram. Rule number one, no liking. No likes on Be Real. Your posting is not a public popularity contest. You have no idea if everyone saw. and loved it? Amazing. Or your weird cousin's side, and that's it.

Yeah, totally. All right, the second difference from Instagram, on Be Real, you can only post once per day. No photo dumps. None. No eight picture carousel three months after the trip. You're like tagging your eight flower vendors. You can't do like six minutes worth of stories documenting every turn of the trip you just

took to Tulum. Here's the wildest part, though, of Be Real. This is crazy. You don't decide when to post. Okay. This is when Jack, We've got to cover this story. They tell you when to post on D-Real.

You literally have to wait until you get a notification. Once a day, you'll get a notification on your phone that says time to be real. 8 a.m. or 8 p.m. That's when you have to take out a camera, take a picture because that's your post. Yeah, wherever you are. When you get that time to be real notification, you just, you have to use your camera. That's key. So you can't grab an epic picture you took three days ago and posted at 8 a.m.

When you get that ping. You have to take a picture of right now. Like, Photoshop is just physically not possible with this. So when you get the notification, you could have like a saltwater hair. And you look amazing. But when you get the notification, you might be in a post-shampo pre-hair product situation. You might be a total mid-bathroom mess right now. You don't know, because you have to be real on this app.

Oh, and one more thing. No filters. No filters. So, Jack, let's say you took a cloudy hike. Weather wasn't great. It was a bit overcast. The pick you took, it's going to look like a cloudy hike. The weather wasn't great and it was a little overcast.

Snackers, what Be Real is doing, it is purposely doing. It is the opposite of the most popular millennial app and it's working. Be Real is based in Paris. They raised $37 million of venture funding and they have $4 million downloads so far, growing really fast. Now, Be Real could just be a fat. It could be over in a month. And we've all seen Zuck, Zuck ideas like Be Real with like the snap of a finger and assigning

three engineers. That's all I needs. But Be Real, we're thinking it reflects something larger in our lives and in our minds. So, Jack, what's the takeaway for our buddies over at Be Real? The solution to the paradox of choice is the satisfaction of limitation. The paradox of choice, a term coined by American psychologist Barry Schwartz. When we have too many options, which we all do every day, we feel powerless, confused, and frustrated. Yeah, Snackers, you've been there.

You're like at the grocery store. Jack, you're in IL6. You spend 10 minutes choosing an almond milk because there are 27 varieties. One of them's vanilla. One of them's unfiltered vanilla. One of them's on Sweden vanilla. You open up Netflix. 25 minutes later, you haven't watched anything.

Nothing. Because there's too many schmovies and you couldn't decide. Well, we're thinking Be Real Success is in the satisfaction of limitation. In a world of choice, we're seeing consumers want fewer options. Like just the other week, Jack and I were telling you about the dating app called Thursday, where you can only do dates on Thursdays. And dumb phones are making a... come back. The ones you can only text or call on, there's no apps to open. With Be Real, users make fewer

decisions and they spend less time in the app. And guess what? They prefer that. After years of more and more choice, there is a satisfaction to limitation. For our second story, TurboTax, like, the ultimate tax software just got sued by the FTC just before you file your taxes. Is it free? TurboTax? Is it free? Is it really free? By the way, taxate literally like 19 days away. And some people are listening to this pod like two days late. So probably like 16 days. True.

Yeah. And if you're seeing the deadline coming up, there's only one question point. TurboTax or H&R Block. Hundreds of millions Americans are about to get blasted by charming emails that you're probably going to delete. Get your refund today. You go to TurboTax.com right now. You'll see free, free, free, free, free, highlight it, all caps, everywhere in rent. Get as much tax help as you need for $0.

And then there's a big button that says file for zero dollars. You got to have the big button. Here's the problem, though. For two-thirds of American tax filers, it's not free on TurboTax. Oh, you made money last year? You're going to need TurboTax premiere. So the FTC has sued TurboTax's parent company into it. Yeah, into it.

Owns TurboTax, Credit Karma, QuickBooks, budgeting app mint, basically like the whole kind of JV Fintech crowd. The FTC said this in their complaint against TurboTax. They're saying that TurboTax is deceiving consumers with bogus advertisements like we just described. The FTC went on. They're pitching free tax filing that millions of consumers can't use. So this is how it's going to affect you, Snackers. From Bankers to Burger King, if you've been the employee of a company, you've received a W-2 tax form, just like you do every year.

And if you've received the W-2 tax form, you might be eligible for that free version. TurboTax. Keyword there, keyword might. But if you have a 1099 or if you're a gig worker or independent contractor, like on DoorDash, then you can't use the free service turbotax for filing. And that's what leads us to the most annoying part about this whole turbotax situation. You did all this work entering the information out of your W-2. You know, box one, box two, box three, box 14C.

You're just trying to fill your taxes and you got a subsection under a subsection. Your state employee identification number. And it's only after an hour of deeply filing your taxes with TurboTax, do they tell you that you're probably going to have to pay extra? Oh, you have capital gains? That's going to be 50 bucks. And if that's too much, feel free to start all over with somebody else. So that annoying situation, that is why the FTC is asking a court to, quote, immediately halt

this bait and switch. To protect taxpayers at the peak of filing season. Now, TurboTax, they say that these claims are simply not credible. They also say that their ads touting free tax filing raise awareness that there's at least a free option out there. But even though they say that, Jack and I whipped up a takeaway. So, Jack, what's the takeaway for our buddies over at TurboTax? Complexity equals business opportunity.

Snackers, where there is mystery, there's margin. I like the way you said that, Nick. It's good. It feels good. It feels good, Jeff. Snackers, what I don't love is the American health care system and Americans tax code. Because it's confusing, complex, and sometimes infuriated. Yeah, confusing complex and can give you a headache, the three brutal Cs. You know, though, who loves the sometimes infuriating American tax code? Software companies like TurboTax and H&R Block.

TurboTax is in the business of solving this confusion. Its business depends on tax filing confusion. Which is why millions are happy to pay the fee every year to not deal with pages of tax form confusion. So it's the insane. complex tax code we have in America that TurboTax benefits from, which is the real issue here. Because where there's mystery, there's profit margin. For our third and final story, Jessica Alba's honest company just saw its clean diaper stock just plummet. And you know why?

You stopped washing your hands as much. I mean, I did. Guilty. I'm like, is anyone looking? Is anyone with me in here? Jessica Alba's IMDB page. What does she got on this thing? You got Sin City.

Fantastic Four. Into the blue was actually my favorite. And founder and chief creative officer of Honest Company. Honest Company. The direct-to-consumer diaper and home cleaning goods products company. Basically, a company that's like if Clorox and Pamper's had a millennial grandkid. They're famous for their diaper cake of diapers. Yeah, this is literally a three-tier cake of absorbency.

No leaks. But just like other direct-to-consumer companies that happened to go public last year, honest company stock is down. But it's even more down because it plummeted 20% last week after the earnings report. Now, Jack and I jumped into the earnings snack style. And, you know, you saw anemic growth, no profits. But there was really one issue, one key issue that caused the stock to drop. Sales of cleaning products dropped by 68% compared to last year.

68%. An awkward revelation for society in these earning snackers. hand sanitizer was left hanging. We got ourselves a hygiene problem. Yeah, Snackers. According to the CEO of Honest, they saw, quote, unquote, continued decline in disinfecting products. They have $3 million of unsold cleaning products. It's just like a pile of cleaning products that no one's buying.

Imagine $3 million worth of alcohol sanitizing whites. Okay, so it's, look, it's just jacking me. So we're going to get closer to the mics and we can be honest with each other. Snackers, when you're. washing your hands, are you still singing Happy Birthday twice when you're at the sink? Remember at the beginning of the pandemic? We're supposed to do it and sing the song twice?

I don't know if I'm even getting to the name in Happy Birthday. Are you still dosing yourself in Purell because you saw somebody? Yeah, you get anxious because there was another human. That stuff, it made your hands smell like tequila. The answer, Snackers, no, you're not. An honest says that the more

people who have gotten vaccinated, the less demand there is for their sanitizing products. To be clear, We should all be cleaning our hands. We should wash our hands. Yeah, now that we've done this story, Jack, I'm washing my hands more. I did it before this story. I'm washing my hands right now.

But since the pandemic waves have relaxed, people are just getting less regular with the washing. You're hanging out less at the sink. And if you want proof, proof, just check out Honest Company's website. You'll see right at the top, cleaning products are 60% off. So, Jack, what's the takeaway for all our buddies cleanly over at Honest Company? What's a takeaway for buddies who aren't honest about how often they're wash their hands. What's the takeaway for all our buddies feeling a little dirty over at the Honest company?

Nothing feels better than a sticky product. Honest, they love diapers. That is a sticky product. Your baby's butt needs diaper refills like six times a day. So you order automatic boxes to come to your door like every couple weeks. You set it and forget it. It's a sticky product. It's hanging around your credit card statement every month.

Honest was hoping they would get a second sticky product. Yeah. They were hoping that their big investment. in cleaning products during the pandemic would be their second sticky product. Yeah, Jack, maybe you refill your sanitizer every month, so you never run out. That was scary when we had no hand sanitizer. But here's the reality, according to Honest Company. We have not seen stickiness of demand for cleaning goods.

Yeah, so honest is defunding and deprioritizing the entire cleaning category that they built up. Because some products don't create a habit. Some products just aren't sticky. And you want sticky. Jack, can you whip up the takeaways for us over there? Be Real is catching on because it's the opposite of Instagram. Instagram is unlimited choice. Be Real is the satisfaction in limitation.

For our second story, TurboTax has been sued by the FTC related to its big red file for $0 button. Because where there's mystery, there's Martian. And our third and final story is the honest company. They've discounted their cleaning products by 60%. It's ironic, but cleaning products just aren't sticky. Now, time for our snack fact of the day. This one sent in by Gustavo Chavaria from Phoenix, Arizona. Nick, if I asked you what elements comprised the human body?

Yeah. You'd probably say oxygen, carbon, hydrogen, nitrogen, nitrogen. You're taking the words out of my mouth. You would be surprised by one element that's in the human body. Snackers, there's gold in your body. Gold! Gold! Gold is gold in that their body?

Silver and gold. Snackers, you were like, literally born with gold in your body. There is 0.2 milligrams of gold in the average homo sapiens body. And honestly, you should be happy to have it because that gold, it helps maintain your joints. 0.2 milligrams is incredibly tiny amount. It is. It is. It is a small amount. But gold's a valuable metal.

So like Snackers, when you wear jewelry on your body, you're also wearing jewelry in your body. Snackers, you look fantastic. You look clean. Hey, this is no judgment zone. It's just me, Jack, and you right now. Still washing my hands. I'm saying like 13 birthday signs. Yeah, this entire podcast, Jack has been scrubbing away over there.

Jack and I, we'll see you tomorrow. We got to try these things. Jack, I got to eat. And before we go, happy birthday to Snacker Douglas Lopez. And good luck at Y Combinator Demo Day with that onyx car. Yeah, and Joseph Valencia and his wife, happy third year anniversary. Congrats to Jenae Chavaria, who started a jewelry business down in Phoenix. And Olivia W started a new company over in Indianapolis.

Congrats to Kelly Hale for snagging that first client down in Jacksonville. And Daniel and Mary Beth just bought their first house in Denton, Texas. Happy four years together to Angel and Annalie Gonzalez in Salt Lake City. Oh, Jack, Skyler, and Lily Reddington. They got a nine-year anniversary in Gilbert, Arizona. Congrats to Jeremy and Tiff. Big congrats on a new baby in Denver. And Brandon S. just became Associate Actuary over in Cleveland.

Austin Leach. This guy's going places. Got a summer internship at a big consulate. Salting firm. Lana Suarez also got that new job over in Chicago doing logistics. Congrats to Victor Jakopovich for moving to Dallas. And Kaylee and Andre, enjoy the vacation in the Bahamas. Glad you found a sitter for the Tesla. And Gussie, happy birthday down in Houston.

Happy birthday to Amanda in Toronto. And happy birthday, Jennifer Doe in Westminster, California. And Mary Margaret Wagner in Mount Pleasant, South Carolina. Happy birthday. And to anyone else celebrating today, make it a team. The wins. This is Jack. Nick and I both own some Bitcoin and I own stock of Netflix. 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. Robin Hood Financial LLC, member FINRA, SIPC. We should wash our hands.