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This is Nick, this is Jack, and this is Snax Daily, it is Friday, October nine. Nick, I'd love to banter with you, but there's too much sex, not enough time. We're just going to make this the best one yet. Instead, let's just go with that for our first story. JP Morgan Chase, America's biggest bank, just added a second business line.


You know, casual financing, racial justice for 30 billion dollars.


For our second story, Kroger's is looking at a situation like think I'm going to Airbnb out our kitchen every day.


We're merging ghost kitchens with the sharing economy in unused aisle for checkout. Aisle four for our third and final story.


Dollar General feels like they're limited by the dollar in their corporate name.


So they're locked in the all five dollar footlong dollar store. It's a chain. It's called top shelf. New thing, a five dollar store, just what we all need.


But snackers, before we jump into that wonderful mix of stories you're not going to see anywhere else, we're just in time for earnings season. We got a big news family update. Pleased to announce the snackers. Alex and I have a baby coming.


Its corporate will review the profit puppy is actually very protective in this situation. She won't even let me close. She's become like the Amazon protection puppy brought to you by Ringham Security. Yeah.


So we jumped in snacks out of this pregnancy announcement. Notice how Jack is one of four boys. Alex is only child. Well, for gender reveal idea. Nick, we're thinking like a ticker symbol based x, x, x, y. Only two options. NYSE, Nasdaq. We got opportunities there. Let's go with it. But, Jack, the big question here, will you be issuing a forecast or expecting a second quarter?


Baby, I'm thinking eight pounds, fourteen ounces, same weight as I was when I was born. Jack, I'm looking back at the historical figures here. It looks like the analysts are typically wrong when it comes to this situation. How naive of your neck. We're expecting at least a 50 percent pop in its share price on day one of trading. Oh, Jack. Of scrolling down in this S1 IPO paperwork. Looks like there is a strong risk that this baby bankrupts the parent company.


Well, to protect our fiscal situation, this baby won't just have any birthday parties.


They're all dependent on the annual performance review. It's a classic move, Jack. Now, no birthday presents are, we think, an annual retention bonus. Instead, Glocke is always extra. Congrats, Jack. Congrats, Alex. This is a beautiful thing.


Alex has been heroic. River has been protective snackers. We're happy to share this news, tbh.


Why? If you know. Yeah. Now it's my honor to announce that on the POV with your man. Let's hit our three stories you tuned in this next day. He spoke to the lawyers and we got to get some legal out of the way about the way food is candy. They don't reflect the views of her family. It's all informational. Just so you know, we're not recommending any securities. Nope. It's not a research report or investment advice, not an offer of a sale of a security.


What's next is digestible business news for you if an LLC member is ABC for our first story, JP Morgan Chase just pledged 30 billion dollars to fight the racial wealth gap.


It's the biggest social responsibility move we've ever seen by any company ever.


Jack, I'm counting it. I remember when the Grinch's heart grew was a one size.


It was three sizes, three sizes too big to get a doctor over to 270 Park Avenue Chicho. JP Morgan's cardiac situation. Clear glass. As we discussed in June stackers when Black Lives Matter movement was capturing the country's attention. There were some wild and impactful statistics that Jack and I were excited to share back then. For example, white families in America today have nearly ten times the wealth on average of black families. That's nearly a thousand percent more wealth.


And the reason is pretty straightforward. This is from the legacy of slavery and systemic racism that continues to have an impact on the economy. Intergenerational wealth has a huge impact on your family's wealth today.


So here comes America's biggest bank, JPMorgan Chase, and they're making a pretty aggressive move to change that with 30 billion dollars. That is three lifts worth of money. We're talking loans, equity investments and straight up donations over five years. Jack, we've never done this. But I'm gonna go as far to say that is half Anubha Avenue. It's half an hour. So here's how it's breaking down snackers. This is impactful money.


You got 14 billion dollars going to new home loans to black and Latino borrowers, a billion dollars for affordable housing and to increase homeownership in other underserved communities.


You got six billion dollars from mortgage refinancing and small business lending and then a two billion dollar grab bag for donations. Let's just review here. We're not talking millions with an app. We're talking billions with a B. These are staggering numbers, six billion dollars a year.


That's sixteen percent of last year's profit for JPMorgan Chase for the next five years.


Insane generosity. Imagine if you donated sixteen percent of your paycheck. To charity, I bet you know, and you're not doing over the next five years, although that would be a great thing to do, you should consider now we covered on snacks daily in July when Netflix moved a hundred billion dollars of their corporate cash to black owned community banks. Now, we love sprinkling some context here.


So that was a that was a nice that was a generous that was an exciting move by Netflix at the time. That was a big story.


We found it worthy of coverage in this pod. But this this is three hundred times more money than that. Plus, JP Morgan's actually putting that money to work, not just parking it in a bank.


We have never seen such corporate generosity ever. But here's the things.


Naggers, JPMorgan. It's not a unisex. So why is America's biggest bank doing this, Nick? It's the right thing to do that doesn't hold water in corporate America if it has any conflict with profit. That's what's happening. The press release. But out in the boardroom, this could very likely hurt profits for JPMorgan shareholders. So as citizens, Jack and I are looking at this, we love this move.


We literally applauded when we saw the headline Standing Ovation to our buddies over JPMorgan Chase. So we're thinking that JPMorgan shareholders, there may be a few who are thinking that's a lot of billions. Wonder what we could have done with some of those other billions to generate more money for the company. That also could have been done it because JPMorgan Chase isn't going to say so. Jack, what's the takeaway for our buddies over at JPM? The purpose of a corporation has changed, but this is also good business snackers.


Jamie Dimon, legendary CEO of JPMorgan, also the head of the Business Roundtable, which was a group that redefined the purpose of a corporation just last year. It's not just profits and shareholders. They have to also consider the environment, employees, customers and other stakeholders. Well, impressive to see Jamie Dimon putting his money where his mouth is from the description of what he redefined as a corporation.


This is literally that. But, Nick, this also changes JP Morgan's image from big bad corporation to big good corp, actually. Yeah.


It's also a highly strategic move potentially ahead of the election.


The polls suggest a blue wave is coming to Congress and possibly the White House on November 3rd. And guess who's a top candidate for treasury secretary?


Could be Elizabeth Warren, who's had some words for JP Morgan before this 30 billion dollar investment could fend off regulation, fines, penalties and more from a Democratic majority in Washington. No matter what, though, we're still applauding it. And the stock actually ended up two percent yesterday, too. For our second story, Kroger is about to pull off the most innovative thing it's done since emoji, Kröger, emoji exergy.


Those are great. Instead, Kroger's going from milk cartons and carrots to ghost kitchens.


Now, ghost kitchens should have been your food hero during the shutdown. Economic pandemic, Jack. These are like the first draft pick situation, but they end up in the minors two years later.


Pictures seeing this delightful, delicious looking door dash item. Jack, I got the app up right now slamming Sam's salmon. Sando sounds incredible. I trust Lamb and Sam to make a good salmon Sandown. But you can't go there, Nick. No snackers. That location of that slammin Sam's kitchen not disclosed. It does delivery only. There's no store front, no busboys, no tables, no nothing. It's just a kitchen, a.k.a. a ghost kitchen.


And in a world where food delivery apps have surged recently, you'd think that like delivery, only restaurant should be seargent. And yet no major ghost kitchen has emerged from this pandemic as the big nationwide winner. That led us to a fascinating headline. We jumped into snack style Cincinnati based grocery store chain Kroger is jumping in with some Silicon Valley disruption of its own Ohio style.


Turns out Kroger just partnered up with a local ghost kitchen with the name Get this, love it cluster truck.


Cluster truck does the delivery app. It sets up the menu on the delivery apps. It preps the food, it boxes them and it ships them off for delivery to your house. Honestly, cluster trucks kind of doing everything here. It seems like that's what's going on. Kroger, though, is providing the real estate. They got a thousand square feet of their grocery store, like one percent of the whole place that they sectioned off and let cluster truck use.


But here's the thing.


That's all that cluster truck even needs to get you a hoagie to your mouth and twenty seven minutes and over in that corner, if cluster truck runs out of butter, they can dash over to the dairy aisle like one hundred feet away.


Boom, they're there. Butter. They're probably buying it at a wholesale price. Nick, you know what this looks like. Jack, I know you're thinking over that. We got an urban mead's ghost kitchen situation, Jack. I'm seeing price check sharing economy, aisle six snackers, the space that Kroger is offering up Kluster truck. That's probably the space they use in the mornings to like prepare pasta salad, which you can buy per pound in the deli section.


Honestly, that pesto making factory, it's like unus eight hours a day. That's why they offer it up to your truck. It's the sharing economy. But snacker is one reason why goes kitchen startups are so small right now is the economics.


The unit economics of the business doesn't work is tough to turn a profit without the markup of alcoholic beverages and with the high cost of delivery. But Jack, what if you get a. Grocery store to offer up its kitchen facility may maybe the economics can work, the costs come down. So what's the takeaway, Jack, for our buddies over at Kroger's, the future of grocery stores is food, civilities, snackers, key pandemic highlight. Everyone wants and hoards food, but you can't fully digitize food.


That sales trip to Dallas that can be digitized the resume. But fresh corn must be corn fresh.


It's got to be fresh just as and Sam and Sam over there. In the meantime, your digital life has forced grocery stores to blur their own definition of themselves.


In just six months, you that Whole Foods was just a grocery store. They just opened up a store in Brooklyn that only shelves itself for delivery owners. How about Inforum, which just raised a few million bucks to put vertical farms growing kale inside the grocery store? Panera is not just there for your bacon, egg and cheese. And nope, they're restaurants or grocery stores, too, that also sell bulk ingredients.


And the reason this can happen is because grocery stores have three unique features. They're big, yet they're close to you to keep things fresh. Not too bad, but they are now learning to become fulfillment centers and farms and ghost kitchens to the future of grocery. Is food civilities for our third and final story.


Dollar General is going from single dollar to five dollars. That's right. The Oju Dollar Store chain is launching a fancier, higher end, five dollar store chain snackers. We got to travel down south to the latest product from Goodlettsville, Tennessee based General Jack. What is it? Top shelf? It's top shelf. It's not a product. It's actually an entire chain store concept. They're launching a new chain store. The first of the pop shelves has already opened in a Nashville suburb and they plan to have 30 pop shelves by the end of this year.


Pandemic flu pandemic, lots going on. This feels like the whole store is made in China. Jack. Nick, pop shops not targeting wealthy shoppers with this five dollars. No, no, no. They're targeting wealthier shoppers than the dollar stores. Exactly. A key distinction here. Dollar General stores focus on people with incomes up to forty thousand dollars. Top shelf is targeting consumers with incomes up to one hundred and twenty five thousand dollars. And you are seeing this on the store shelves because the average price at a dollar general is a dollar and at the top shelf it's five dollars.


That's why we think it should be called the five dollar store. But they're calling it pop shelf. Honestly, pop shelf sounds more like something we should be eating. Pop, pop shelf, bottom mattress matches. Now, here's the thing.


Stackers that Jack and I found fascinating to target these middle and upper income women. Top shelf is using what they call the treasure hunt strategy, rapidly changing inventory. So you're always excited to come back and see what sprung up on aisle three. And we're looking over Nijole three right now. And it's not the need to have things. It's the nice to have things top shelf.


It's not going to have toilet paper and cereal like a no, but they will have nice candles and a party. The three areas of focus, you're going to see beauty products and home decor and party supplies because we all need that exfoliating facial cleanser. Yes, we did. Fall harvest. Why not? And the six piece copper mugs, that jacket adds to the feng shui. But here's the thing, snackers. It's kind of a surprise that Dollar General is even doing this because Dollar General is living its best life.


When we look at it, Dollar General, it's kind of a keep doing what you're doing. Dollar General situation. Jack, I just pulled out the stock chart here. Stocks at an all time high.


It has tripled in the last three years and recently with the pandemic even better. Nineteen percent sales jumped last quarter from the year before.


We're talking about a chain snackers that has led this sixteen thousand seven hundred dollar general locations, more dollar general in America than there are Starbucks. Yes. And then there are McDonald's. So Dollar General is a dollar store, but it's making bank and then they go in and out pop shops. What is going on, Jack? What's the takeaway for our buddies over at the Dollar Store? This goes against every trend we can think of right now. Honestly, Jack, how about let's see, I got a list here.


E-commerce word wasn't mentioned in the press release for pop shops. All right. Another kind of trend we're seeing right now. Middle class is getting squeezed in America. Oh, funny. That's exactly who they're targeting, the class that's getting squeezed in America. And what about sustainability? Everyone's focused on sustainability. Tough to be sustainable when every month you got new seasonal things shipping in that you're probably going to throw in the dumpster if it doesn't sell.


Jack and I are thinking the Dollar General may want to do less right now. Stick to the dollar, not the five dollar. Jack, could you whip up the takeaways for us over there?


Mattress match. JP Morgan Chase is committing 30 billion dollars to fight the racial inequality of black and Latino communities in America. The most generous corporate act we've ever seen could also be good for business. Second store Dollar General isn't satisfied by the dollar is new. Five dollar stores are all going against big econ business trends.


For our third of our story, Kroger is leasing out a thousand square feet of their grocery stores to ghost kitchens because grocery stores are becoming food sell. It is now time for our snack back today, this one. We in by someone who wouldn't give us their first name just goes by med tiger, kind of like Oprah, but Med Tiger did use the hashtag snack fact that's key, which helps us all find snack facts on Twitter. Please do that snackers.


Now, here's the thing about Kentucky. It's the home to apparently more barrels of maturing bourbon than human beings. That's right.


Eight point five million barrels of bourbon are maturing.


That doesn't even tell us how many immature barrels there.


Meanwhile, and went door to door found only four and a half million people in the state of Kentucky.


Every state should have a stat like this and put it on their welcome to blank state sign on the interstate. We should point out all four and a half million were mature people.


Snackers before we go, and you have a fantastic weekend. Remember, we all want to grow snacks, so let's share snacks. The best way is when you share snacks with your friends and give them the I love snacks because then drop the Wii twice. Have you had your snacks? You have a fantastic weekend if you know. You know. Now, before we go Snackers Terry in Los Angeles, we have a message for you. Gardner wants to know if you'll make it official and become his girlfriend.


We'll have a moment of pause. We're going to assume that's a yes. In the meantime, Matt and Caitlin Brown, happy wedding down in Virginia, 10, 10, 20, 20. Good day. And congrats to ACBAR and Araba in Houston, Texas, also getting hitched. And Chantelle and Bobby down in Jersey City, New Jersey, and Dylan and Courtney are buying a house up in St. John's, very Vermont. Nick, do you know what county that's it?


I don't know, but it's better than Johnsbury. It's the northeast kingdom. Oh, baby, I love that kind of Jack. Matt and Meredith Roberts. Congrats on the four year in Athens, Ohio. Ryan and Savannah, happy three year anniversary in Gainesville, Jacksonville, Florida, when Alex Rodriguez, three year down in Pearland, Texas, and Christian and Heather Kim, happy 12 years in Atlanta, Georgia. But happy birthday to Sanjayan, already in Hyderabad, India, and Serena Podres in San Diego, California.


And Tom Morgan and OLAP, Kansas and lizarazo West Hills, California. And Tan in Los Angeles, California. And Katie Sun, New Haven, Connecticut. Great Pizza. And Travis McAvoy in Austin, Texas. Happy twenty seven to Melissa Florea, Los Angeles, California. And Andrew Beeny from the same hometown as Joe Girardi, Peoria, Illinois.


This is Jack Ilhan, stock of Amazon, the Robinhood 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 Inc 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.