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This is Nick. This is Jack and this is Snax Daily, it is Friday, March twenty six. Happy early birthday to my oldest brother, Nesterov. It's fair. It's confusing, but have more than one. Yeah, there's two nicks in my life. It's weird, but it's cool. Also, we're about to finish the first quarter over here, Jack. Yes. And Alex and I are about to enter the fourth trimester because this baby is due April 5th.

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Baby, it is. That's the due date. Have you memorized the forces or is it the five? It's the five S's I think I've memorized for it. You got Swadling shushing swinging suck. And I think it's syrup, as in candy, candy, corn, candy canes and stuff. You have to phone a friend. But this is our best podcast yet, Jack. What we got for our first story. The Olive Garden's owner is at a record high stock price.

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But the numbers, they have layers like, listen, they got layers. For our second story, Picasso is the fastest US company to become a unicorn, worth over a billion dollars to make your first home, a second home or your second home, a first home. It's a snake to the mongoose situation, Jack.

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The mongoose to my snake for our third and final story, the Suez Canal thing that we mentioned yesterday. Oh, remember it? Well, it's still blocked. Still blocked. We're looking at the most important one hundred and twenty miles in the global economy. But before we hit those three fantastic stories, wonderful mixed last week, Nick and I mentioned a scientific academic study in Australia. Yeah, people apparently hate Zoom happy hours. That was the conclusion. So guess what they did at Citigroup, the New York based investment bank.

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Not going to believe this. They killed the five pm Friday Zoome. Happy new thing at Citibank. Zoom free Friday, starting immediately. In fact, all internal meetings are banned the day before a weekend. Carol, in accounting is going to have to just figure out that issue herself that she emailed you at four fifty on Friday afternoon. I'm sorry, Carol. We'll see on Monday. It can wait. And Citibank went one step further to hook up its employees with a little rest, their own company holiday.

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This almost feels illegal. City reset day. It's May. Twenty eighth. The entire company boom just gets the whole Friday off the day before Memorial Day. It's a great thing. Not too shabby. They just made it up. Poof. Citibank is a calendar magician.

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The thing going on were investment banks are nervous about overworking their employees, understandably so. Their rival investment bank, Jefferies, is giving every junior employee a peloton instead of like extra time. Must be nice. Hey, Goldman Sachs, your move. Yeah, we suggest you one up these rivals with the permanent three day weekend. We've been asking for it forever, Jack. Spreadsheets, more bed sheets, less business meeting, more brunch eat less number crunching, more crunching on dinner at a reasonable hour.

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Let's say that three start you tuned in the next day. You spoke to the lawyers and we got to get something legal out of the way about the food is Ray Candy. They don't reflect the views of the rabbi, the 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 an offer with that level of security by what's next is digestible by Nancy Pelosi. No favors as ABC or our first story, the Olive Garden.

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Its stock just jumped to a record high in the era of year over year. Shrinkage is over. The era of year over year growth has arrived.

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We're talking the Olive Garden, but I'm not really talking the Olive Garden. And this is we're talking Darden Restaurants, Jack. It's got to just the Olive Garden. They also own Longhorn Steakhouse, Bahama Breeze Capital Grill, some goatees out there, but only the Olive Garden was where I worked for four months, winning three consecutive Wine Salesman of the month awards. I was about to say snackers. Every time we start this project, like, what can I do to get you into a Brunello tonight when you hear your family?

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This guy's got Doc G tattooed on his left calf. You've never been to the doctor. I was a volume sales volume. No, God, I was working on volume. Now, honestly, Jack, I like spat out our marinara when we saw the Darden stock price record high. You might think restaurants have been the biggest losers of the pandemic. Jack, you'd be wrong. Yes. Now, thousands of independent restaurants have suffered badly. They've had to close their doors.

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But if you figured out how to do takeout and delivery efficiently, you might have been OK. OK, you may have gotten through. But honestly, there is a sad reality right now because you got nationwide chains emerging stronger than ever with less competition because some mom and pop restaurants definitely went out of business.

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Case in point, Darden Darden Restaurant Group's revenues in the past twelve months, all pandemic months are only 20 percent lower. That's it from where they were a year ago. Pre pandemic. That's pretty good. Yeah. And Darden just announced this week that they brought home two hundred sixty million dollars in profits from December through February. They're bullish that diners are going to keep taking tours of Italy via the breadstick basket. It's on them. They are so confident, they just reaffirmed that they will send shareholders two hundred six million dollars cash dividends this next quarter.

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This is like a birthday check from your grandmother. For every share that exists of Darden, they're going to send 88 cents on May 3rd, so if you have a bunch of shares, that money adds up. Oh, and Jack, they just reaffirmed plans to spend five hundred million dollars on their own stock, boosting the value of those shares even more. They are dishing out cash like their host in their daughter's wedding. And the day of my dividend payment, you delivered to my shareholders.

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So, Jack, what is the takeaway for our. But he's over at the Olive Garden the year over year thing. It's going to change how things look the next year. Darden they show every week how this week's sales compared to the same week one year ago, they loved it. This is called a year over year comparison. And guess what? Snackers for over 52 weeks, year over year, sales were negative for Olive Garden because the pandemic Olive Garden was worse than the pre pandemic Olive Garden.

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The most important thing about Darden's earnings report, big, was that last week, the week that ended March, twenty first week sales grew year over year for the first time since the national emergency was declared.

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And that is big because we're now at a point where we're comparing the pandemic year to to the pandemic here, one for the first time.

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It's a milestone and a pandemic. Year one. Twenty twenty was so bad for restaurants, it was really bad that Darden expects each week of this coming year to be better year over year than last year.

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So Snackers, don't be shocked when you see Darden second quarter, third quarter, fourth quarter results come through and they show huge growth year over year. And it's not just Darden. Twenty twenty one is going to show a reversal of year over year trends for all companies. Most likely, Pelton's growth this year is going to look like a slowdown from last year's search year over year. And planet fitness is growth. This year will look like a surge from last year, year over year.

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So whatever. Twenty twenty year over year numbers look like reverse and for twenty, twenty one it's a year over year thing.

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For our second story, the Suez Canal is clogged by a huge ship. It's created an epic traffic jam, but it's also a huge tax on commerce spread across the entire world. That's how you got to think of it. And also, don't call it a boat. Don't call it a yacht. Don't call it a ship. Jack, what you want to call this thing's a vessel. It's a two hundred and twenty four thousand ton vessel. Yeah, we got vessel status on this thing.

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The ever given it has clogged one of the most important waterways really in the entire world, maybe the most important. It's the length of the Empire State Building. Impressive. It's a quarter mile long. If you walked it from tip to tip, would you walk it? I think about it. I do it for exercise. You get a lot of steps on the tip to tip is the equivalent of walking around the track at your local high school.

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The Suez Canal is the body of water we're talking about. It connects the Mediterranean Sea to the Indian Ocean via the Red Sea. It's right, Jack. If Chicago does logistics, the Suez Canal does logistics. Plus true, but Mother Nature got involved with 30 mile per hour winds, an epic sandstorm, low visibility, which caused the ship to get stuck on Tuesday. Basically, they perpendicularly parked in a parallel parking zone. Yeah, they brought in the experts, the trying to dig out the sand from underneath this thing to straighten it out.

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But experts say it could take days to weeks to move this ship out of the way. OK, fun to kind of jump into the Suez Canal history on this thing, Jack. It's not just featured in the crown season. No, it's not. It is a hundred and twenty mile human built waterway. It is to the world's economy what the like is to the entire island of Long Island. It's my way. Or the Long Island Expressway, baby, get these numbers.

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Thirteen percent of global shipping trade among nations goes through Suez. Nineteen thousand vessels pass through this canal every year, Jack, every day.

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Fifty two ships don't deliver their cargo because of this miss parked ship. Nick, you think you could just take a detour? I believe that's a lap around the continent of Africa. Then you got to get through Gibraltar, Jack. You know how you get through Gibraltar. It's a narrow strait. You got to like you got to suck it before you go to school in a bit. Oh, it'll also be a two week delay to do that.

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It's kind of brutal, said Jack. What's the takeaway for the entire world? Because of this ship, this giant ship has become a huge tax on the global economy. It is a tax snackers because billions of dollars of money is being lost every single day. But those billions are spread across the entire world, whether it's TVs, tank tops or tomatoes. Each one uses oil in some way to get from raw materials to product for you. OK, Jack, again, huge number here.

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Ten percent of seaborne oil goes through the Suez Canal and this crisis has been a dent to the whole global oil supply. Let me put on my econ hat. When supply shifts up into the left, like we're experiencing with oil prices rise. And if you buy oil and gasoline right now, you're going to see that directly. But if you're buying TVs, tank tops or tomatoes, you're only going to see that higher oil price indirectly. OK, but here's the thing, snackers.

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That increased cost we're talking about, it's spread across the entire world. It's like an Olympic size swimming pool. It's big, it's big, but it's being spread across Lake Michigan. That's why you haven't seen the price of oil changed. Despite this Suez ship, Castroville, for our third and final story, Picasso just became the fastest US company ever to become a unicorn ever.

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It's worth a billion bucks and they're trying to make vacation home ownership a thing for millennials. It's spelled Picasso, but they, like, throw in a few typos in there because startups, it's just like Pablo Picasso.

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Actually, no, it's not. It's spelled differently. But you get to say, I own a Picasso, but not that Picasso. Right. But there's going to be some like Googling issues. They're going to be like, did you mean Pablo Picasso?

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Now, Jagmohan, we're throwing it is there are a lot of butts involved in this situation that the co-founder of Internet real estate company Zillow has raised 90 million dollars for Picasso in equity in six months, just six months. It is now worth a billion dollars to buy up the properties that this company is peddling. They also raised a billion dollars in debt because real estate's expensive and I guess they need mortgages, too. So here's what Jack and I find fascinating about Picasso.

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They know it's hard for you to buy like your first home. So they're trying to make it easier for you to buy your second home. But first, right there in the business of vacation homes, particularly for like city folk who are probably renting vacation homes are only used five weeks out of a year on average by the owner. So you might be thinking, is this a timeshare business? Kind of, yeah.

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We jumped in snacks while you go to the Picasso website, it's like a top shelf Trulia. Yeah. The first property you see is in Napa. It's got a sun nice for private yoga. It's a lot of private Shahbazian going on in the pictures. And then there's a Lake Tahoe house that's four bedrooms and three bathrooms available on Pagosa. It is lovely. You got the wood beams that wrap you in warmth. Jack, this house is gorgeous. And Picasso shows right on their website that it cost two point six million dollars to buy this house and they put in thirty four thousand dollars of renovations to make it so glamorous.

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Stoneheart didn't put itself in there. Now Picasso set up an LLC to buy this two point six million dollar house. That part is key. And then they sliced up ownership of that LLC into eight different pieces. Right. So you're going to pay four hundred and three thousand dollars to get one of those eight pieces and access for forty four nights out of the year. Picasso cleans the house between owner visits and get this, they swap out the photos like the framed pictures.

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You have to make it feel like it's your house, but you show up for the weekend, which is both satisfying and creepy at the same time. That's what you get, one eighth of an unbelievable house. What Picasso gets is a couple of juicy fees, Jack. They're getting a 12 percent transaction fee, which in this case is like three hundred thousand dollars. And then every year they get one percent of the home price to manage that home, which in this case is like twenty six thousand dollars per year.

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Ipso facto, you're paying three thousand dollars a year in dues, each of the eight owners. So it's basically a timeshare coated in millennial paint. So, Jack, what's the takeaway for our buddies over at Picasso? First we got the sharing economy. This company is the splitting economy snackers. In the last decade, the sharing economy has become the dominant trend.

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If you got a car, share it with Uber. If you have a home share for the weekend on Airbnb. Yeah, and sharing makes a lot of sense because it's optimizing assets that are just sitting idle. Most of the time the average car is idle sitting in a parking spot. Ninety five percent of the time. Yeah, no reason a condo can't be used when you're away. And unlike the sharing economy, though, the splitting economy involves ownership and gives you upside that Malibu Picasso condo is professionally managed and only a small, limited crew of fellow owners get to use it so they will take care of it, unlike maybe an Uber and Airbnb.

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And because you own it, you can grow your wealth. If the House appreciates the splitting economy could be the next variant of the sharing economy. Jack can whip up the takeaways for us before the weekend. Matt, Olive Garden stock is at a record high. Get ready for the year over year thing to reverse got started. The Suez Canal. It's still jammed the ship. It is a tax on the global economy, but that cost is spread out across the whole globe.

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For a third of our story, Picasso is trying to make vacation homes achievable. It's not the sharing economy, future splitting economy. Now time for our snack. Back to the day. This one a record, I think. Check fifth submission from Kelsey. Let's take it away.

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Hello, Stackers. This is Kelsey Black from Austin, Texas. You want to. Gutenberg invented the printing press in fourteen forty by fourteen fifty two. He was printing calendars, pamphlets and newspapers. He only ever produced one book though. The Gutenberg Bible. I mean, he burned at about one hundred and eighty copies, but it was one book and I was the first book ever printed on a printing press. The invention of the printing press was instrumental in the scientific revolution and spearheaded the Renaissance because when printing presses became more widespread across Europe, more secular books were printed.

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The access to printed information was the cornerstone of communicating and advancing scientific knowledge.

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That was impressive. Yes, she like stuck the landing. That was exactly 30 seconds. Lot of information and the printing press, revolutionary dissemination of ideas.

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Couldn't have the podcast without the printing presses. But we're trying to say true snackers. You look fantastic today. Remember, it's five star Friday. Scroll down, drop us five stars. Leave a rating lever of. You follow a Spotify, follow us, Apple will see him. And if you want to submit an audio snack fact, there's a link to a Google form and the description of this episode, if you know, you know. And before we go, happy birthday to Nina down in Guatemala and Eddie Ortiz in San Juan, Puerto Rico and Dr.

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Jennifer Davis in Dallas. Sounds like a TV show. And Amy Green, Manhattan, New York and Pooja A.. Morganville, New Jersey. And Rikabi in Redding, Massachusetts. And Ryan Deringer in Newport News, Virginia. And Matt Kovalchuk in Amherst, Pa.. And Kevin Vandeleur down in Boston, Mass. And Jared Berten in Omaha, Nebraska. And Kevin Herek in Albuquerque, New Mexico. And John Roitman in Tampa, Florida. And happy birthday, Valerie Vermonter's in Encinitas, California.

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Happy three year anniversary to Matt and Sophie Water in South Hampton, UK. Jack, Lindsey and Alex just got engaged over in Chicago. Congrats to Eric McKinney for getting a CPA, a broken arrow, Oklahoma. And Jack Mike is quitting his job to start a company up in Toronto. Brave man. Mike, congrats to Pesenti porta potty for moving into a new place in Oakland. And Alex Jordan got into the Barclays master's program. Happy long distance anniversary to Lucas and Peyton in New York City and Dallas.

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They're doing this long distance. And Jack, look out your window because Caroline and Alex Engler just moved up to Vermont. Honestly, look out your window. I heard this is like making some delicious cheese down there. I'm serious. Look out your window. This is Jack Nikken, stock of Zillow, 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.

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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.