This is Nick, this is Jack, and this is Snax daily, it is Wednesday, November 18th, everybody stocks inched down a tad, but there's so close to the record highs, Jack. Bitcoin jumped past seventeen thousand dollars for the first time in three years, both for no particular reason.
That makes any sense. But we made this the best one yet.
Why, Jack, what do we got? For our first next daily story? We booked an entire place with flexible cancellation policy and dog friendly to jump into Airbnb IPO paperwork. You got to do that. And Airbnb, who's getting ready to IPO, just told us who their favorite child this hosts or guests. So is it going to be second story?
Jack, what do we got? Candy legend, Mars Inc. They get hungry, too, so they just acquired Kind Barres Jack Windigo poetic on this.
Snax springs eternal. I do not know that idiom, but it sounds smart. Third and final story. What do we got over there? Did you notice Walgreen's stock fell yesterday. Jack, did you notice Amazon just launched its own pharmacy? That's a funny thing. Same story explained above headlines all in one story but snackers.
Before we jump into that wonderful mix of stories, we are one week out from Thanksgiving Eve, Thanksgiving eve, something that should definitely be a real and respected hard.
Honestly, we're all thinking it. You know, you're thinking we've all thought about this.
Now, sadly, this Thanksgiving, we won't be with our extended family is bringing out the extra leaf to make the dining table bigger.
Like most Thanksgiving, we ordered the eight pound turkey this year, not the eighteen pound mutant super turkey who does crossbow.
And that means you may actually have to cook yourself this year snackers because Aunt Peg, she won't be coming with their awkward casserole. No. So that means you got to buy an extra smoke detector, maybe a fire extinguisher. Jack, do they still offer the Mel proof oven mitts? Is that they do. I'm thinking of Tim Allen in the Santa Clause. You remember that same great guy. Great scene.
But Snackers Jack and I noticed the smartest thing to happen to the insurance industry in ever just happened. The insurance industry isn't very sexy, but progressive insurance just partnered with Whole Foods because they know you're probably about to botch the turkey in the oven. So they will insure your boccie turkey situation.
That's right. In case you commit a quote unquote, turkey cooking fail, there is now a Thanksgiving turkey protection plan offered from Whole Foods and progress. Jack. Overcooked, undercooked, burnt, dry boom. Doesn't matter what went wrong, you can just submit a claim if you're asking your guests at the table, did I overcook it? Do you think I overcooked it? Guess what? Yeah, overcooked. It staggers insurance payouts like this. They only apply to the bird, not the yams.
And by the way, the walk, it's still extra. It's always extra snackers. It is up to you to not overcook the turkey this year and not let stuffing become a super spreader.
Let's hit our three stories this next day. He spoke to the lawyers and we got to get some legal out of the way about the here rain. Food is the 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, for Nancy Pelosi, member favor AIPAC for our first story.
No more smoking on Airbnb, no more straight out missing out. That's because Airbnb stock will be available for us all starting in December after its IPO starting in December.
Airbnb going public on Nasdaq next month, although I mean, the ticker symbol coming Airbnb, Airbnb, a big, huge missed opportunity. They could have gone with stay. Why stay with home or CASA or house to bring in different languages. US condo, condo.
But Jack, can we just share our favorites so they can run with it quickly? Keys.
Yeah, 60 percent. I'm making the stat up. 60 percent of messages on the Airbnb are about. Can you tell me where the keys are down.
Oh I'm sorry I forgot the code. Can you just let me know where the keys are in the code fix snackers. This was a dramatic S-1 filing for everything be to officially prepare to IPO. Honestly, Jack and I jumped into this. This is so twenty twenty.
The first line in Airbnb IPO paperwork in the beginning. Isn't that how the Bible began? Yeah, it's exactly how the Bible became. Oh, and then they go on to mention crazy seven times because they were crazy for starting this company. We get it guys. We get like relax.
Then they added some fluffy language. They mentioned belonging community and showed like an Instagram style feed of, like, diverse and lovely looking hosts. Honestly, Jack, this IPO paperwork felt more like a summer camp reunion than like an IPO paperwork.
Now, Airbnb knows the number one thing on investors minds is what the heck has been going on in twenty, twenty four Airbnb?
And so they thought they should address that, which they did on page number nine, covid impact on our business. That's their number one risk that they highlighted. Let's rewind to March and April. In the spring, revenue dropped by seventy two percent for Airbnb, it's worst quarter ever and it lost a half billion dollars in profit.
So Airbnb made some moves. They cut their marketing budget in half. They fired. Twenty five percent of their employees and they hope things would work out OK. Two months later, a whole bunch of people, myself and Nick included, are like Airbnb is kind of perfect for the summer. Revenue quadrupled back and then they actually squeezed out to get this. You don't see this that often. A two hundred and nineteen million dollars profit their first one of the year.
So they covid crisis hurt Airbnb. Its revenues are back up to the twenty eighteen levels. But it didn't hurt nearly as bad as investors feared.
The real story here about Airbnb and being covered is it how badly they got hurt? It's how quickly they bounced back. Think Rocky for the first and second rounds were brutal. So we're focused just as much on the other rounds. When Rocky got back up, Jack, I think didn't Alfred said a bad man like it's not who you are, but it's what you do that defines you.
We're mix in movie analogies and I really like it.
I think it works. But snackers, when it comes to Airbnb, it's a platform that connects travelers in homes. What Jack and I found fascinating, though, is they just revealed who their favorite child in that equation really is. Page number two, Brian Chesky of Airbnb announces basically who he likes more.
He says hosts are at the center of Airbnb. Jack and I had to whip out the old Apple app. Turns out in this S-1 IPO paperwork, Airbnb mentioned guess seven hundred and eighty seven times. Jack, how many times did Airbnb mention hosts? One thousand one hundred and seventeen times. If I was a guest, I'd be not feeling good about my dad. Now I'm loving it. This is kind of awkward. And then Airbnb went on to mention one of their top five risks is if we fail to retain hosts because hosts could easily switch from listing their condo on Airbnb to going to HomeAway or Vario, two companies that basically do the same thing.
So CEO Brian Chesky created an endowment like colleges have specifically for hosts. This one's interesting. The proceeds of the endowment are going to benefit hosts and it's getting funded with nine million shares of Airbnb, which are about to be worth cash money after the IPO.
And then Brian Chesky mentioned basically his whole life goal here.
He wants to see guess grow up to become house your first Airbnb spring break in Miami. Eventually, you have a place to book out to spring breakers. So, Jack, what's the takeaway for our buddies over at Airbnb?
Airbnb needs to think like Uber, not like Lyft snackers. Lyft is a big platform focused on rides. Transporting you from A to B airport to Uber has become a big platform to transport anything, not just humans, also food, freight, medications, etc., etc.. So right now, Airbnb is a sharing platform. Focus specifically on homes. So condo, ski house is Lake Cottage kind of a Airbnb. It needs to become a sharing platform for anything snackers.
Jack and I are envisioning an acquisition spree from Airbnb so that they can own all the items of an entire sharing economy menu.
Imagine whipping open the Airbnb app and seeing the first tab is dedicated to staes that you can book for the weekend.
But then there could be another tab dedicated to booking someone else's car and another tap to booking someone else's parking space, and another for ARV's, another for pools that you're not using for the weekend.
And finally, maybe somebody can just book out their basement for your storage. Airbnb is expertise isn't a two bedroom apartment. It's making the sharing economy via Airbnb should become the everything sharing company, not just the house sharing company. For our second story, Mars Inc is going beyond candy acquiring kind bars for reported, get this, five billion dollars. That's like so many elements. Slotnick How kind is kind bar? That's what we wanted. It's a great question.
So Jack and I jumped in snacks to Mars to kick things off. Is this close to Willy Wonka Chocolate Factory as I corporately possible, five generations of Mars family members have run this company, starting with Frank see Mars way back in nineteen twenty, what was then called the Nugget House.
Back in my day, we used to turn the egg whites with real stomping horses.
Moriba was the first product in nineteen twenty two, followed quickly by Milky Way, Snickers and Three Musketeers and it's a classic. And then you got Skittles and Eminem. They joined the Mars family and finally they merged with Wrigley's gum because you need something for after the chocolate.
If this all sounds appetizing, which of course it does. Sadly, Bars Inc is still a private company still owned by that family. So it's a Sumar stock. Yep. We're straight up missing out. But snackers. Here's what fascinated Jaconi.
Mars started a corporate diet of like less sugar about three years ago when they bought forty percent of bars and kind bars isn't just bars. It's not just a nutty fruity energy bar. They also do granola, oatmeal and cereal.
So this acquisition is really similar to Kellogg's buying our X bar, which became the fastest growing snack bar of all time for six hundred million dollars. Our X bar famous for their clean ingredients and for getting stuck in your teeth. Yeah, I still but our bar from yesterday jacket's maple is the maple is the best. I've been meaning to tell you all that, Nick, this also looks like Hershey acquiring one brands, which is a plant based snack food bar for three hundred billion dollars.
Yeah, early takeaway here, Jack. This podcast should be literally a snack bar because someone would acquire us for five billion dollars. Apparently, the multiples are really high on this stuff.
Now, Kind Foods has somewhat of a healthy and transparency reputation. You can literally see through the package. Right. But how healthy and how transparent is it? Well, stackers, the snacks industry itself, it's like an onion. It has layers.
It has layers like ogre's so on the healthy snacking spectrum. And we know snacking is Jack. An ideal kind is kind of like a gateway snack. Its biggest ingredients in a bar is nuts, oats or fruits, and they're also gluten free and vegan. Vegan, if you're not including honey know, that's controversial. It's very controversial. But they also have bars that have chocolate and syrups and unpronounceable elements and up to 21 grams of sugar, which is a whole bunch of sugar and some kind bars, have a bed of chocolate and are drizzled with even more chocolate.
They're basically one degree away from a Snickers is you want to look at. So Kibar isn't a totally healthy snack, but that's exactly why Mars is acquiring. So, Jack, what's the takeaway for our buddies over at Mars? This is a Prius aquisition, snackers, Prius, Toyota Prius. We're thinking original hybrid on this. This thing has an electric motor under the hood, which is really nice. But guess what's right beside the electric motor, a gas burning old school combustion engine, Jack, right there next to the chassis.
Now, Toyota knew when they launched the Prius that electric cars would be the future, but consumers weren't ready to go. One hundred percent electric back in nineteen ninety seven. They still wanted to make progress, though, at Toyota towards this inevitable environmental sustainability that was coming, Jack. And I think it's the same situation over at Mars with Mars customers. Mars customers are still crushing Milky Ways and Snickers bars like every other day. So Mars is thinking they need a transitional snack to get to the inevitable healthier lifestyle, like a nut bar with a little bit of cocoa drizzle, like an electric motor with a little gasoline drizzle.
So if Mars current candy bar brands are gas guzzling trucks, then we're thinking Kindt is their first hybrid option. This is a Prius acquisition from Mars because Kibar is a gateway product to healthiness for our third and final story.
Cross off drugs. You can now order those from bed on Amazon to Amazon Pharmacy is actually the big bully that American health care needs. And so we're going to travel all the way back to twenty eighteen. When Amazon partnered with two behemoths to launch a health insurance company.
Yeah. Then it spent nearly a billion dollars to acquire an online pharmacy called Killpack, and then it started making its own generic Advil under the Amazon Basics brand. You don't need to read these tea leaves, these tea leaves, read themselves CVS, Walgreens and Rite Aid.
They hired a whole bunch of consultants after that and then started bracing themselves for the inevitable. Well, it is finally here. That's right. Snackers Americans and forty five other states can now buy prescription drugs in their Amazon basket.
Does Amazon Pharmacy take health insurance? Yeah. Yes, they do. You just add the account info. I assume Bezos knows all our socials, right.
Ken Bezos, his company read those like messy doctor notes for the prescriptions.
No, Jack, no one can read those. But yes, you have to add a doctor's prescription to get the drugs that require the drugs. Let me ask you this. Do prime members get any special treatment? Jack, club prime is club prime free delivery and discounts. If you're a member of Club Prime now, what about five for for that thing on your thigh? You take it twice a week. There may be some side effects, but it helps with that thing on your thigh.
I'm glad you asked. DataStore Sol will be forty percent off the brand name version, up to 80 percent off the generic version on Amazon. Yes, that last point is true for all real drugs on Amazon Pharmacy, not a fake drug Fantastics all which Nick and I haven't trademarked. Even though you may have a real thing on your shop. We all do. It's weird, Jack, but moving on, snackers, the news here is as much about the disrupted the pharmacy companies as it is about the disruptor.
Yeah, because Amazon stock, we're looking at it, it kind of barely budged after this announcement.
But the seas were rough for CVS, Walgreens and Rite Aid, whose stocks all fell about 10 percent yesterday on this news. CBS, it has ten thousand physical locations. Walgreens got nine thousand. Rite Aid got like two and a half hours.
Now, until today, that real estate, those brick and mortar locations, they could be seen as an advantage in the pharmacy space. Right, because you're walking into that drugstore, you're picking up your Lipitor, but on your way out, maybe you grab some shampoo or some cereal or some lipstick and you need the Lipitor, the drug Anker's you to Walgreens and then you buy a bunch of other stuff.
Now, those buildings are just extra costs that let Amazon undercut prices. That's what investors might think. So, Jack, what's the takeaway for our buddies over at Amazon? American health care kind of needs a bully and Amazon can be that bully. Today occurs in the US. We spend about double as much per person on health care as. Any other developed country, part of that reason is because we don't comparison shop when it comes to health care. You just do what the doctor tells you to do as what you do.
Now, there was an online market to compare cars for buying. Not so much for Pilbeam, but Amazon Pharmacy will allow comparing prices. It'll show you the price for drugs with insurance and without insurance, you can pick the cheapest one. So drug makers like Cardinal Corpore McKesson, they're going to have to start selling drugs directly to Amazon. And their stocks fell five percent yesterday on fear that Amazon is going to force them to lower prices, just like they've lowered prices on everything else.
Jack, can you whip up the takeaways for us over there? Airbnb is going public in December on the Nasdaq stock exchange. Obviously big opportunity here, Jack. And if they can become the sharing everything company, not just the home sharing company. For a second story, Mars is starting to wean itself slowly away from sugar cane bar is the perfect gateway healthy snack, a.k.a. a Prius acquisition for our third and final story. Amazon Pharmacy finally launched and could finally make comparison shopping for drugs.
A thing for that thing on your thigh. Now time for our Snack Fact of the day. This one tweeted in by classmates Elena and Sally over at Yale School of Management, where they're in class together and they've been sharing some notes.
Elena and Sally are taking a class called Mastering Influence and Persuasion with integrity, of course. Right. With Professor Zoe Chance. That's the way to do it. An interesting little study that they came across here. It turns out making being an organ donor the default on your license, requiring people to opt out of it has a huge impact. Now, opting in is the other way. When you make people decide to become organ donors, that's how it is in the US.
And opt in countries generally get less than 15 percent of people volunteering to be organ donors. But over in Australia, they actually have an opt out situation. So you're automatically an organ donor unless you say, no, I don't want to be. And they get 90 percent of people becoming organ donors simply as a result of that. The take away here, people are influenced by the default choice and they're like afraid to not do the default. So you can use that to your advantage.
The extra takeaway here, people are lazy snackers. You looked fantastic today. Let's do this again tomorrow. Maybe I should ask some friends YHWH. I will be there. Have you had your snacks daily? I have, if you know. Now, before we go stackers. A whole bunch of engagements just went down yesterday, apparently. Congrats, Democrats. Savitch just got engaged over in the lovely Catskills and Mario and Maria, fantastic names for an engaged couple, just got engaged in Silicon Valley.
And Chloe Ames and Jared Pierce also got engaged somewhere else in California. Unreal. Happy birthday to Nishan George in Mumbai, India, and evet Cheesman in West Palm Beach and Kristen, Houston in Seattle, and Matt and Carrie, North Carolina and tie dinner in Madison, Wisconsin. Go Badgers and why it Tiree in Denver and Morris Lecoq in Boston. And happy birthday, Sammy. Román over across the street, potentially in San Francisco. This is Jack, I own stock of Amazon, and Nick owns one Bitcoin.
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