This is Nick, this is Jack, and this is Snax Daily, it is Wednesday, March. Twenty fourth to all our snackers from coast to coast, from New York to California, from VTE to your team and all the Krypto brothers who moved to Miami for one year exclusively for tax purposes. Today's pod is the best one. Jack, first story. What do we got over here? In January, we had game stocks, dot, pop. Yesterday, we had GameStop earnings like looking in the mirror the morning after for our second story, Go Puff just hit a nine billion dollar valuation for bringing the bodega to you.

Jack, they saw the age old challenge last mile Slim Jim for our third and final story in the nineteen hundred railroads got broken up old school in the nineteen teens.

It was aggressive in the nineteen eighties telecom snackers.

Welcome to the era of hipster antitrust, not a curfew. It's a move with the thirty two year old leader who doesn't like Amazon but snackers. Before he hit those three fantastic stories, we just discovered the best resume ever. Jack.

It's not accomplished. It's not lead. It's not built. It's not launched. It's none of those actually sat down as in sat down with Oprah for an interview.

Fresh off the big chat with Oprah on CBS, Prince Harry is taking his talents to Silicon Valley. Yeah, get this new resume. But he's going to be the chief impact officer at a startup called Better Up. That's a startup focused on mental health and employee coaching. And we applaud the Duke of Edinburgh move. We also respect the mental health focus he's had for like a bunch of years. Yeah. By the way, chief impact officer, I guess they're continuing the tradition of making up new titles for royalty.

They are. And by the way, the prince is going to have to make a few changes. We have some ideas for you. Yeah. Highland hunting jacket that's out Patagonia, half zip. That's in Prince. Well, these are our Aubert's. Those are in. That's what you do. Oh, yeah. You're going to want to leave your sword and crown by the robot.

Peristeri No more poached salmon launches with a side bowl of hollandaise sauce. Instead, just lecture everybody around you about intermittent fasting routine. But remember, Harry, we know you're listening. Send us a snack fact. By the way, every tech company is actually a flat organization, except, of course, for the Royal C Suite and his loyal subjects. His Majesty, the VP of Sussex and Silicon. Let's hit our three stories.

You tune in this next day. We spoke to the lawyers and we got to get some legal out of the way about to hear. Ray Giudice. They don't reflect the views of the rabbi, her family. It's all informational. Just so you know, we're not recommending any securities. No, it's not a research report or investment advice. Not at all a sale of a security. What's next is digestible business news to your family. Finance LLC member Fembot ABC for our first story.

Here we go. GameStop just had its moment of truth.

It's the first earnings report for GameStop since January. GameStop stock well said. If you can say it three times fast, send us the video. I mean, we'd love to see the video. I thought you did great, though. That's the first time I've said it one time and you did a live on air. I thought that was fantastic. Now, Snackers GameStop is the video game retailer that got the Paris Hilton treatment. GameStop, it is famous for being famous.

That's what they're doing. It's the blockbuster video games that some investors think is the Netflix of video game Real Housewives of GameStop. Now, ironic because Jack GameStop is getting a Netflix show about the situation that happened in January. Now, back in January, the stock surged ten times higher out of nowhere and then it lost half of its value since then. So there's been some change, but we just got the first earnings since the GameStop stock pop. Oh, yeah, snackers.

You know, we did Jack and I jumped in snacks. Dow got to see everything that happened with GameStop from November to January. All right. So last quarter, comparable sales at stores that were open were up seven percent and online sales jumped to one hundred and seventy five percent from the year before. Jack seems nice. You want more profits hit eighty one million last quarter, which is also up from last year. Jack seems very nice. Unfortunately, most of that profit tax benefits, including from the Keres Act, which was the first covid relief bill Congress passed one year ago.

All right, Jack, we're talking seventy million dollars in tax benefits. Think this is like this is like a corporate tax refund that comes out helping their profits. And they made eighty one million in profit last year. Without the seventy million tax benefit profits would have fallen compared to the year before.

OK, so it feels like we should also sprinkle on a little bit more context on top of these sales. Most of the sales growth from last quarter actually came from sales of PlayStation five and Xbox series. We're talking the left and right biceps of gaming consoles over here. Both are new gaming consoles, rush of holiday buyers that probably won't continue as much in the future.

Unfortunately, both those gaming consoles are less profitable than games for GameStop.

And that's why the stock fell by seven percent yesterday before the report and twelve percent more after the report dropped. So, Jack, what's the takeaway for our buddies over at GameStop who popped in a. That was GameStop numbers, but what about the GameStop story we've heard so much about? Snacker Some investors in GameStop believe in their turnaround strategy, which Jack and I like to call the people and places turnaround strategy. Let's start with the people. Tui's co-founder is now on the board of GameStop and they have a brand new CIO, a chief operating officer who's from Amazon and Google, which also sounds very e-commerce.

Jack, thank you for introducing us to the people. Can you take us and tell us about the places to be more like an online retailer? You need to shut down some of those like five thousand stores. They have just a few. And last year they closed 700 of the worst performing ones. OK, so that people in places turnaround strategy. That story got like some support in this earnings report that we were just talking about. But other GameStop investors don't care about people in place now that they bought in January because they believe in camaraderie.

Yes, chirality, true. Beating the heck out of the hedge funds. Well, this November, the January earnings report, it has nothing to do with any of that. To recap for some, the GameStop story was supported by this earnings report. But for others, these earnings had nothing to do with their GameStop story.

For our second story, go puff. Just raise one point two billion dollars to hit a nine billion dollar valuation. Jack, we think, you know, you're thinking they should call themselves Bodega Plus, founded in Philadelphia. Twenty thirteen on the charming Drexel campus of West Philadelphia Jack. Yeah, a lot better story than a Harvard dorm room. Yeah. Glad to hear Drexel. Those engineers, they get hungry because the core business for this company, 30 minute convenience store delivery for the average user who's in their 30s, they started by serving the dorm.

I love it. It actually started with OnDemand Hooka. And then they expanded to snacks, alcohol and cleaning supplies. It's not quite a pyramid. I guess that's more of like a trapezoid. But then they matured. If you look at the website of gulper now, you'll immediately see Vermontville and Ben and Jerry's and then you're going to see an IPA, some Tylenol and a paper towel. Are we really going to say they mature that much? Yeah, I'm thirty three and I consume all of those.

So yeah. But here's the thing. Staggers there that f and go puff.

It is a it's a devil's tail technically if you look at the logo. Yeah. Look at the logo. There's still little done in the past and the name of the company literally implies smoke. I said we're the perfect rebrand for you guys. Bodega Plus Go Puff has become the around the corner store from you but digitized bodega plus now you might be thinking Postmus, Amazon Prime Instant Car, Uber, they all deliver stuff on demand.

What is go puff's differentiator. What is the difference? The difference is that they are able to do an absurdly low delivery fee, one dollar and ninety five cents to deliver with thirty minutes like not guaranteed but they think they'll get to you in thirty minutes. Now we don't know their financials. They're a private company, but we do know how they pulled off that low delivery fee.

And it's because they're vertically integrated. They order Ben and Jerry's paints directly from Ben and Jerry's and then store them in one of their two hundred and fifty mini fulfillment centers. Go above isn't like sending someone to dash over to Whole Foods shop for you and then deliver it to your home and cutting out that middleman Whole Foods. In this case, it keeps the cost down and maybe they're even marking up the product on that monkey to take a little profit for them.

It's a little bit more expensive. So, Jack, what's the takeaway for our buddies over at Karpoff? The rest of On-Demand delivery is routine and habits go. Puff wants impulse buys and surprises. Snackers the delivery wars. They are function over fun. That's what they are. They're fighting for your routine. You're habit focused, practical needs. Insta Cart wants your biweekly blueberry orders. Amazon wants your monthly TP refills go above, says, you know what?

We're just going to avoid that whole battle. We're focused on the delight of surprise and impulse delivery. We messed around on the apple. We saw their happy hour deals. Oh, yeah. Ditch the five o'clock Friday's meeting and order a thirty percent off martini delivered in thirty minutes. Jack Then they got the mystery boxes. We could send our buddy Timmy some random box, a mani pedi gear.

And then if you look right now, you'll see their March Madness snack bracket. Real thing with number one seed Sprite facing off against sixteen seed Doritos. Jack, I can tell you this one thing with certainty.

Insta Kaat Amazon housemates would never do any of this. Go Puff isn't chasing your boring routine refill?

No, they're all about the charming surprise and spontaneous cravings. Unfortunately, Go Puff is still a sumo's stock. If you want to invest, you're straight up. Yes. No naughty.

For our third and final story, welcome to the era of the hipster antitrust. A thirty two year old could make the big four tech companies have to split into eight. All right. That thirty two year old Jack talk about look it up on LinkedIn. President Biden has nominated Elena Kagan to be the commissioner of the FTC, born in nineteen eighty nine T. Swift. Yes, to Swift. And she's a year our junior. She would be the youngest person to lead the FTC, the Federal Trade Commission.

OK, so just make sure I get this right. One of two. Agencies that protect consumers from Annapolis will be run by someone younger than us, I guess, rounding up to the 90s on this. She's a beast. And Nick, we all had a dream in college to write a paper. Yeah, that would change the world. My favorite, Jack, you actually proofread this, I think, sophomore year, Stewie Griffin, Psych 101, a breakdown of his psychology.

That paper was ahead of its time. Yeah, I'm telling you, it was edited for me. I was proud of it. It was my paper advocating for football to make a playing surface that slows people down so that tackles are less forceful and fewer concussions. The sequel to that was melting the ice in hockey games to also affect concussion numbers. Right? I figure it's like riding on the sand.

Olina Conchi whipped up a paper when she was 20 at Yale Law School, jacked the title. Well, it had a little more impact than our Stewie Griffin and like football running one day it was called Amazon's antitrust paradox and it has caused a rethinking of the whole antitrust regulatory system. Now, snackers, there are three sentences back from like a twenty eighteen interview that Lenaghan did that explain her whole philosophy and connect everything she's thinking to the products you use first, as consumers, as users.

We love these tech companies. That's what Lenaghan said. She's referring to the four big tech giants who don't jack up prices like past monopolies. They actually offer them at lower or free prices. Second sentence, Lena went on to say, But as citizens, as workers, as entrepreneurs, we recognize that their power is troubling. All right. Here's what is talking about. Amazon has driven destruction of shopping malls and Main Street. Good luck to the startups out there jumping into the e-commerce space, Jack.

Finally, Lenaghan said, we need a new framework, a new vocabulary for how to assess and address their dominance. Let that sink in. She's talking about the apps because apps are everything right now. And Facebook has four of the ten most downloaded apps of twenty, twenty and the other six. It doesn't have it's probably sucking their core products right now. If you want to be social in this world, you cannot avoid being on Facebook's products. So after all three of these quotes, roll them all up.

Lenaghan has a final proposal that we would expect to see if she's FTC commissioner. Her critics call this hipster antitrust. We think that's kind of a bad philosophy. I don't drink coffee, but I would prefer hipster coffee. Jack, what's the takeaway for our buddies over at Hipster Antitrust, the four big tech companies, they could be split into eight companies. If Lenaghan becomes FTC commissioner, she'll probably advocate to pass these hipster antitrust reforms through Congress. She may call for Apple and Amazon to be banned from competing on their own marketplaces like they do today.

That's right. The App Store, the toll booth of all apps that could be spun off away from Apple, Amazon basically could be torn apart from Amazon.com. OK, so that's Apple and Amazon. Then you got Facebook and Alphabet, which could be forced to undo the acquisitions that were anti-competitive from the past. To make sure consumers have a choice. She may require that Instagram gets split off from Facebook and then she may be on a roll there and say, you know what?

We're going to split up YouTube from the rest of Google, too, while we're at it now. Snackers, it would take years. Years did happen decades. And it would be fought so aggressively by these tech companies, lawyers. And we have a hyper partisan Congress, so there's no guarantee the laws will change. But if Khan disrupts the disruptors, we could end up with get this for new publicly traded companies, maybe even more. All right.

We've got the OG's Apple, Amazon, Facebook and Google, but then you also get the new GS App Store, Amazon, BASIX, Instagram and YouTube, boom, their own publicly traded companies. Wow. Yeah, that would be something that would be great for this podcast. This is Nukak.

This is Jack. What ticker symbol should we have for Instagram?

Jack, can you whip up the takeaways for us and say the word naughty one more time for everyone, please.

You're going to get me banned for you. I mean, is this an explicit podcast? Now, GameStop earnings show us OK, numbers and progress towards their e-commerce, but honestly, not that much. It has anything to do with the GameStop stock pop for Gopalnath, better known as Bodega. Plus make it half is now worth nine billion dollars delivery. That's not about function delivery. That's about funding for a third of our story. Lina Khan was nominated to be the FTC commissioner, and if she's confirmed, her hipster antitrust could break the four big tech into this still extremely big issue.

It's all relative. Now time for a snack fact of the day. This one sent in by Jordan Marcus from a lovely Oakland, California. OK, the longest word in the English language would take you about three and a half hours to say, yeah, we double confirm this. It is one hundred and eighty nine thousand eight hundred and nineteen letters long. Its nickname is Titan. This ain't no supercalifragilistic X Baadasssss. This is a chemical composition which has protein science names.

Apparently it's the largest protein in the world. Technically, it's not in the dictionary, but it is science snackers.

You wrote a paper in college that's cooler than Family Guy in Slow Grass, we want to hear the title of this thing. Yeah, tweet us at Jack Kramer at Nick of New York at Robinett Snacks.

What paper did you write in college that was really bad weather wise, if you know. You know. We'll see you tomorrow.

We'll see you tomorrow. And before we go, congrats to snacker Hayley. Pinsker just got her driver's license down to Florida. Happy birthday to Lily van der Blumen in Cleveland, Ohio. Parasomnia like M0, Hanahan just had her birthday in Armenia. And congrats to Vicki Mueller for having a birthday six months ago. I guess we're two and a half birthdays. There's a little sneaky there, Miguel. Pretty, aren't they? Happy birthday in Quito, Ecuador, and Chloe Williams in Philadelphia and Nick Rosano in New York City and DJ Prentis in Atlanta.

And Hilary Miller in the Woodlands, Texas. And Phil Odyn Corn, Hoboken, New Jersey. And Stefan Richi in Arlington, Virginia. And Dan O'Gara and Longbeach and Devin Silbert, Newport Beach and Sandy Trin Philadelphia and Ramsey ofMan in Pacific Heights, San Francisco down the street. I'll see him. I guess I'll see him on a run to Lionised or Sandy. Tranh, did you go to the University of Michigan Public Policy School? Are we classmates?

This is awkward. No, this is fantastic. And congrats to Rebecca Reed and Simon Rákosi for having a baby girl, Elliott Reed in Chicago and David Elizabeth Gonzales. Happy anniversary in Miami. Congrats to Rudy Hardaker for getting her safety certification in Texas and Dairyland graduating down in D.C. had Barbara Alvarez launched a tech company. Sounds like something from a fairy tale in Venezuela. Jack and I are both chocolate guys. We'll leave it at that. This is Jack, I own stock of Amazon and Netflix, Nick own stock of Apple, the Robinhood Snacks podcast you just heard reflects the opinions of only those 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.