7investing Now #54: What’s the Next Big Thing in Technology?
February 22, 2021
The iPhone changed the definition of “phone” and led to an era where smartphones are ubiquitous. But that revolution occurred back in 2007 and smartphone sales have already hit their peak. That has left big tech companies searching for the next big thing. Will it be augmented reality or maybe something in the heath tech space? Maxx Chatsko joins Dan Kline to look for “next big thing” investing opportunities.
Samantha Bailey 0:16
Welcome to 7investing Now, a show that teaches you how to take a long term view on investing by better understanding what’s happening in the market now.
Dan Kline 0:26
Good afternoon 7investors and welcome to the Monday edition of 7investing Now my name of course, is Daniel Brooks Kline. I’m being joined today by Maxx Chatsko. Maxx, how are you holding up?
Maxx Chatsko 0:38
Pretty good. It’s still cloudy here in Pittsburgh, but it’s like been like that since August. I don’t think I’ve seen the sun since August. And so you know,
Dan Kline 0:45
Yeah, I got back to West Palm Beach and was all excited that it was like in the 80s, I was gonna go swimming on Sunday, and it immediately dropped to like 70. And like me from like two years ago might go swimming and 70 me from having lived here for four years isn’t doing that before we get started talking about the next big thing in tech. And that’s going to be our lead subject today. Want to talk a little about our personal tech.
So as some of you know, Maxx is broadcasting at home, I’m broadcasting in a dedicated studio space I’ve built in my house. But the problem is, I’m not a handy person. So I’ve thrown a lot of money at solving the problem. Sam Bailey, if you could share what my setup looks like I shared a picture. As you can see, I built this little arm thing. And it has my monitor sitting on it or my laptop on one hand, a monitor on the other. But Max, can you see the little black square on my monitor?
Maxx Chatsko 1:35
Yeah, what is that?
Dan Kline 1:36
That is a dead spot. So I I got Sam, you can put this back up, I got this arm. And it didn’t tell me I needed a monitor that has like the the fixture that your TV has where you can just like click the thing in so I had to buy this like weird x bracket that’s holding it and put that together. And this all took me like three hours because again, like if my car gets a flat tire, I get a new car like I am not, I’m not capable of fixing anything. Like I once was so proud of myself that I changed a light bulb. And then three seconds later heard a giant smash as the entire fixture fell to the ground. So not handy. But I get all this setup, I instead of returning the monitor and getting the right one that has the right hook up, I get this device. And then I plug everything in. And the damn monitor has like a dead spot like clearly it was like dropped or something in you know in submission. So it is not working for me.
But we’re going to talk the next big thing in tech. And of course, we would like your questions if there’s anything you want to talk about in the biotech space in the investing space what’s going on now what isn’t? Get your questions and comments and we will be happy to take them as we go along.
So Maxx, let’s talk about the next big thing in tech guts. The smartphone is arguably the last big thing in tech, the iPhone, which came out in 2007. That’s unfathomable to me, kind of changed everything. It put a smartphone as kind of a necessity. Like back when there was a Blackberry. That was a luxury business guys had the Blackberry, but smartphone sales have started to decline. They’vr fallen for two straight years. And everybody out there is looking for the next big thing. So what do we know isn’t the next big thing max out throat 3D television Remember that? Not the next big thing? 3d printing? I think it could be bigger than it is also not the next big thing. But uh, I’ll throw it to you here. Maxx, a lot of people think it’s going to be augmented reality and Apple, Google, Facebook, Sesame Street workshop, anybody you could think of is working on augmented reality devices. I don’t believe this is going to be the next thing. Maxx What are your thoughts on augmented reality?
Maxx Chatsko 3:37
Yeah, I mean, I don’t know, I could see like niche applications where it might take off, right? You think like gaming or something or maybe like maps and navigation. I don’t know, it’s kind of tough to see it from where we’re sitting now. But I also don’t want to be the guy who says it’s never gonna work. And then this is a soundbite 10 years from now. And then I have no career, no reputation. So I’m gonna leave, I’m gonna leave some room for doubt. But I actually was one of the first people to have Google Glass way back in the day.
So my brother’s a developer, he’s in the beta programs, he got it, then he got to share it with three other people. He shared it with two way more important people to me, and then his little brother for some reason. So I got the walk around with it. And you know, it was kind of cool. More of a novelty thing wasn’t really that useful, but you could see like, where it might be headed. So I don’t want to base anything on first generation tech from the mid 2000 10s. But my experience with Google Glass was that it left a lot to be desired and maybe wasn’t as practical as you might think, when you’re walking around with glasses on and you can get a you know, your email and texts on a little screen up here. But you have your phone in your pocket, and it’s way easier to look at that. So you know, I don’t know what these next generation devices have. But, you know, not as practical as you might think.
Dan Kline 4:49
So Maxx you’re right that you can’t judge things up the first generation. You may not even remember what this was. But I had an apple Newton which for those of you who are younger, the apple Newton was kind of the predecessor to the iPad. In the end the iPhone, it was this big giant, clunky device that was supposed to have handwriting recognition. And it essentially couldn’t do anything more than like a basic calendar with like an address book function, but you could see kind of where the world was going. But when I look at augmented reality, I don’t think it’s going to be headsets. Now Apple is working on a headset, they’ve been testing one for years, Microsoft has the HoloLens, which, again, surgical applications, design applications for buildings and things like that those business applications I see is logical. But Maxx do you think people are gonna, you know, forget that Apple’s price point might be $3,000? Or even $2,000? Do you actually think people who don’t wear glasses or generally wear a headset? are gonna wear a headset? Or glasses? Unless it’s literally like, you know, the Tony Stark glasses from Avengers that just like control absolutely everything?
Maxx Chatsko 5:50
Yeah, I don’t know, I have a tough time seeing it. I mean, I have perfect vision, Dan, as you know, and I don’t know, if I would wear a headset just to get augmented reality. I’m kind of, you know, pretty simple and minimalistic as it is. So maybe I’m not the best example. But, you know, with these price points, too, it’s important to point out I mean, isn’t that one of the reasons that smartphone sales have been declining? Like people kind of woke up? and were like, do I need to spend $1,000-$1,200 on a phone when I’m just gonna like text and search social media and like play Candy Crush all day? You know, you don’t need like the souped up processors for that.
So and we’ve seen that right, with different companies issuing you know, more like budget phones, right pixels, like before a now, iPhone, I think it’s the right is like their budget version of a phone. And like, that’s good enough for most people. So you know, you’re gonna spend three grand on a headset. I mean, there always will be people and like, it’s like any new technology, right has to come down the cost curve. So maybe five years from now, it’s a lot cheaper. But uh, yeah, I might have a tough time getting off the ground? I don’t know.
Dan Kline 6:48
So I think the problem is with smartphones, and we talked about, it’s a declining trend. And the reason for it is, so even if you’re Apple, I think Apple is a good investment. And we’re going to talk about sort of investing in the next big thing and how risky that can be. But here’s the problem. So I have the iPhone, is it a 12, whatever the newest one is I have, and it is appreciably no different than the one before it, or the one before that. Now, it does have the magsafe technology, which is pretty cool that it can it can click into the charger or to the thing in my car to hold it. That’s kind of neat. But it’s not game changing.
It’s not the difference of not having Siri or having Siri. It’s not the difference of of Apple wallet or, or facial recognition, it does feel like we’ve kind of maxed out where phones can be but so I have an Oculus go and it’s a fine novelty device. You can play some games, like hang on hang gliding, but nobody’s ever gonna wear a big bulky headset Maxx Is it more likely that we see augmented reality in like the screens of our cars or in other places, like, you know, maybe there’s an overlay for doctors and a surgical suite where it’s not necessarily glasses, it’s something giving them, you know, real time information in their field of view, like, I know, it’d be valuable to be able to see even just my GPS on my dashboard as I go, you know, not my Netflix movie, that would be dangerous, but my GPS or that I’m about to run out of gas or or whatever it is, is that more practical for where we should be looking to invest in in AR?
Maxx Chatsko 8:16
Yeah, I mean, that seems much more practical. In the healthcare thing is interesting, too. You know, when when my older brother had Google class, that was one of the applications I think Google was talking about at the time. And the company my brother worked at was involved in perhaps, you know, could we a doctor be wearing this when they’re performing surgery to make sure they’re targeting the right tissues? or so on? Right, so those types of applications? Maybe make more sense, maybe even initially, as well then, you know, hey, you can, you know, catch more Pokemon if you wear these glasses or whatever, you know, some application like that.
Dan Kline 8:50
I stuck with Pokemon Go for a very, very long time. It was unbelievably fun. But at no point did I ever play the augmented reality version of the game like it was not exciting to me that the Pokemon were kind of sort of at the restaurant I was in it was just sort of the the monotonous fun of playing it even that eventually ward off.
Maxx Chatsko 9:10
Dan falls asleep with his glasses on and wakes up to a Pikachu standing next to him.
Dan Kline 9:16
I could only hope thank you for Gerald says like a Palm Pilot, sort of a Palm Pilot was sort of a predecessor of the iPhone, maybe even after the Newton the Newton was much bigger. It was a very bulky there was actually a whole chapter on this in my book Worst Ideas Ever, which they don’t send me any money if you buy but there are digital copies out there. And really, it was one of those things where you could look at it and go this failed but it might work. My challenge with investing in any company whether it’s Facebook because they own Oculus, Microsoft because they own HoloLens Apple because they’re investing in this space is I don’t see a demand for this product Maxx like, like even the Avengers glasses if you don’t have an Iron Man suit.
What’s the benefit of those like I could correct me if I’m wrong. But like, are you missing a lot of real time data? Maybe sports gamblers would want something, or like coaches like that. That could be, you know, where you’re really getting like real time stats and plays or something. But I don’t know, Maxx is this sort of like companies trying to create solve a problem? That isn’t a problem?
Maxx Chatsko 10:19
Yeah, I mean, you can see why everyone’s getting involved, right? Like, it might not be an opportunity. But everyone almost needs a strategy, because you don’t want to be the odd company out, right? You’d like Amazon and Apple and Google investing? And it will Facebook can’t sit out. Because if it is a thing, then you know, they’re gonna hear about it years later, when investors are wondering why they don’t have any AR. And of course, they’re one of the leader in the space, right? It’s made those bad example. But you know what I mean? So you can see why they have a strategy. And then if it doesn’t work, they can say, ah, we tried.
Dan Kline 10:48
Yeah, I feel like you’re, you’re chasing nothing here that, you know, the best technology solves a problem. So let’s send over to Max. Lucas, we will take your question. In our in the question segment, we’re going to do to the end of this, I have a whole bunch of comments from Twitter that we’re going to take as well. But Maxx, you’re in the biotech, the healthcare space. I know that’s a very broad way to describe what you do. But I think I have an Apple Watch. And the Apple Watch, in my opinion, solves a problem. So it does a couple of things. It forces me to move every day, if I don’t move a certain amount. If I don’t stand up a certain amount of time, I don’t close my rings. And if I don’t close my rings every day, my trainer is allowed to do the punch me in the stomach thingwhen , I do sit ups No, not literally, but we do monitor it. So I am beholden to it.
It also shows me my heart rate. So I’ve started to learn what causes my heart rate to rise, I’ve made efforts to lower my resting heart rate and really track that. And it can start to do some rudimentary things like, check whether my heart is in rhythm, I feel like going forward, and maybe I’m wrong, that we’re gonna have wearables that like can tell a diabetic I mean, these exists, but like mainstream, everyone has one wearables that just have these functions built in, where like, it’ll be able to tell you your vitamin C deficient, a diabetic that you need insulin, or your blood sugar’s low, you know, a distance runner that you need potassium, like whatever it is, am I wrong in thinking that that solves a real problem, and that will become a major part of sort of the medical chain as we go forward?
Maxx Chatsko 12:17
Yeah, I think there’s a big opportunity in healthcare. And, you know, we were kind of talking about this recently, you and I, we’ve had a happy hour, I don’t remember when it was, I don’t think it was a public facing thing. But um, you know, I was actually, so I’m like one of the first people to call out hype, right. But I’ve also been impressed with how Apple’s managed to get relatively accurate data about heart rates from you know, a wrist wearable, that’s always been a challenge. in health care, right? A lot of these devices, you need electrodes on your chest, right? If you go into a hospital, hopefully not. But you know, they put it there, they try to get as many readings and to try to get an accurate reading as possible. So to get the data that Apple does from a wrist is actually very impressive.
Now there’s, you know, there are limitations to what kind of data we can collect from a wearable from an external device in terms of human health. But I don’t doubt that we’re going to find ways to collect a lot more data and not just heart rate, like you said, we can maybe analyze sweat and you know, determine electrolyte contents or something like that. So there’s two ways of looking at it, though, right? I mean, when you go to your doctor, maybe go once a year, right, you get like the check your weight and your blood pressure, maybe do a blood draw, and they compared to what you did last year, and for most people, it really, you know, that’s all you need, you need to go once a year, the body is a self regulating machine. You know, we’re biologic, we’re doing what we’re supposed to be doing. So there’s an argument that you really don’t need 24, seven data for all of these things, right? It’s just overkill.
But there’s the other argument where maybe, you know, by having 24, seven heart data, you know, for 10s of 1000s, or millions of people, now we have data to start to correlate that to other health indicators, right. Maybe there’s some way to, you know, correlate that to, you know, Alzheimer’s onset, you know, 20 years out or something, right, we’re seeing a lot of crazy things like that, in AI that aren’t very intuitive, and you need a lot of data to even correlate. So there’s that argument as well. And, you know, I’m a nerd. I have spreadsheets for everything, Dan. So I lean towards give me more data. Let’s figure it out. If it’s nothing Oh, well, so I think you’re right, but it’s one of those things. Is it a big opportunity? Is it a gargantuan opportunity, like we kind of can’t really pin it down yet but
Dan Kline 14:26
I actually think it is because people want to be told what to do I as much as anybody in areas where you’re not naturally inclined. So my watch telling me you haven’t walked enough today go walk has literally added seven or eight miles a week of moving for me, it’s lowered my resting heart rate considerably. It’s improved my recovery time. And it’s hard to tell here on whatever platform we’re using that but I’ve lost some weight like and I’ve been lifting weights and working out with a trainer and doing all the things I was supposed to do aside from moving enough. So that was meaningful. But if it can also tell me, oh, hey Dan, like you need more protein or you worked out, but you didn’t drink enough water like your 12 ounces of water in deficit, I feel like that kind of gimmick is actually meaningful to people. And if you tie that into like, oh, wow, like, maybe we can notice the signs of a heart attack 36 hours in advance and send you a get to the hospital alert. Oh, and by the way, tie-in with Uber and Uber deliver you to the hospital, not stopping by for a pizza on the way.
But you know, there’s, I think, and we’re gonna get to your what you think the big opportunities are? I think healthcare overall, is the biggest opportunity for Apple. It’s the biggest opportunity for Google, it’s the biggest opportunity for Microsoft. Do I think that’s all going to be devices? No, I think there’s going to be a massive overhaul and how healthcare is provided Maxx more your space than mine. I like gadgets. Do you disagree? Do you think I think the healthcare system is just so fundamentally broken? That like Google and Amazon have a much better chance of fixing it than like Aetna?
Maxx Chatsko 16:04
Yeah, again, I tend to be a little more cautious. You know, some of it is hype, right? There’s a lot of concerns to here, in terms of like data and privacy, in terms of we already seen problems with that, right? It’s been difficult for Google to, you know, ethically get its hands on healthcare data, and the amount and volume it needs in order to, you know, have any insight into some of these applications. So, there’s some concerns there. And again, you know, it’s just some of it is a little hazy in terms of what we can tell from external devices right now.
Dan Kline 16:38
And it’s one of those where I’m very wary of investing in purely speculative companies. If you tell me who’s going to be the leading healthcare wearable, I would tend to think it’s gonna be Apple, or Google or somebody you’ve heard of.
Maxx Chatsko 16:53
Yeah, I mean, if anyone’s gonna do it, it’s gonna be these big companies, right? Not some startup that just SPACs it is a $400 million company or something. Right. So yeah, that’s a good point.
Dan Kline 17:04
Now, but Maxx for like, very specific things, let’s say pretend this as possible, a, a wearable that helps leukemia patients monitor their white blood cell count, I think all of those words make sense in the context I was, I was using them. And I have a cousin who’s struggling, you know, who has, you know, manage leukemia, and he has to go get his numbers checked a lot. If there was aware of now that’s an area where I think startups, very specific devices, I think, aren’t the game Apple plays, but of course, you always run the risk that Apple is accidentally going to have the very specific feature and then just knock your company you know, I’m sure my cousin would prefer to wear an Apple Watch than a specific, you know, blood cancer watch or whatever it’s called
Maxx Chatsko 17:46
Yeah, I mean, we’ve seen that already. Like, you know, Tandem Diabetes care, right. It was a tiny little company never really was successful. And then it was successful. And now it’s like very successful, right, growing at a good clip. It’s, they believe it’s profitable by now. So like, a good example, that like it’s a niche application, Apple said no, or whatever just didn’t seem it was worth its time. And now you have these other companies that are you know, leading that space. So yeah, that’s, that’s another good point. Okay, you always good points, Dan.
Dan Kline 18:14
Tandem Diabetes would be an awesome name for a punk band. We’re gonna take some of your questions and comments about what the next big thing is. This is an interactive forum. So I see a few questions in there, I see a few comments. We’d love to see some more. They don’t have to be about this. We’re gonna have some open time at the end of the show. So if there’s anything in the investing world you want to weigh in on, go ahead, but via Twitter, Max, Lucas said, and again, these are your ideas for the next big thing. I think you’re starting to see it but the micro business slash freelance economy will grow not the commodity freelance economy, like Uber and doordash. But the professional freelance and micro business economy created by Fiverr, Etsy and shop.
Max I like what Etsy is doing. I think there’s a demand for one platform to sell crafts, and there’s an ability to set prices, really sketchy about Fiverr. I think the quality of work you get done on Fiverr is generally like, Hey, can I get the placeholder graphic until the real guy does it? Like, I’m not as big a fan, but I do agree with what Maxx Lucas is saying. I do think the world is going to be more people who aren’t working a traditional job, and more of a transactional based economy, your thoughts?
Maxx Chatsko 19:26
Yeah, I would agree. And, you know, I’ve read some books and listen to some podcasts about this, but there’s almost like fundamental shift that needs to happen, right? If you think about it, like the macro view of, you know, we still kind of train people to be like good factory workers, right? That’s not really how the economy works anymore. But yeah, if you were a contractor work for yourself and you had a, an LLC to handle taxes and all that all those nightmares, right for accounting. But yeah, and then you could maybe go sell things on Etsy or do things on Fiverr or some other platform like that. I think that’s definitely going to be more common. It’s already pretty common. I don’t know any stats off the top of my head, but like number There’s a much higher than I thought when I saw them, how many people are in the freelancer gig economy. And there’s also like this gray zone, right? You’re either employed or you’re, you’re not like we need to kind of change some laws to to do that.
Dan Kline 20:13
I think you and I know that gray zone as well as it. And I do think and I don’t want to belabor this. But there needs to be almost like a third category where if you work for a company X amount of hours, and it’s a company of a certain size, they’re paying a certain percentage into a pool where you can get benefits or what that needs to be a big overall, I actually think as an investing opportunity. Companies that are facilitating that tend to be a good investment. That being said, one that’s out there that people always throw up to me is Upwork, and Maxx here familiar with Upwork. I’m familiar with Upwork. But I actually at our previous place, managed paying people in Upwork. And they are not friendly to freelancers. And I am very concerned about a company whose entire business is being a freelance marketplace, that takes a ridiculous cut of your earnings, and makes it very difficult if a company if they didn’t help the company find you, the company had you and puts you into their system wants a very high cut. So I am not at all a fan.
Roman. Michael, I see your question in my personal Facebook page. I don’t know why that doesn’t share to the group. We’re going to get to that in the latter half of the show. So there’s a good question there. We will absolutely take it it’s not directly related. David says I actually do think it will be in the biotech space. I really believe in this decade, a cure for cancer will be here, and will be the gene editing and therapy space. Maxx we don’t just need one cure for cancer, right? Like we need a lot of cures for cancer. Is that fair to say?
Maxx Chatsko 21:42
Yeah, that was gonna be my point. So it’s kind of a two parter. First, you know, we talk in the public discourse, we say the words cure for cancer. And that’s not accurate at all. Because, you know, if you have non small cell lung cancer, or you have liver cancer, or you have acute myeloid leukemia, well, those three things are cancers and become cancers for three different reasons. So there’s not one thing we can target at the bio molecular level to stop or, you know, put all those into remission. So we need individual cures for individual cancers. I would also caution that, you know, doctors are very, they hate the C word. They hate saying cure. And that’s when you think about it, it’s true, right?
We put things into remission, we’re not sure if it’s gonna come back in a year or 10 years or five years. So it’s not necessarily a cure, in the sense of, you know, you’re don’t have that thing anymore, right? This is especially true for rare diseases, because we will start to see some, you know, things put into our mission, with gene editing or gene therapy, right going forward. But you have to remember, these aren’t cures, because a lot of times there’s organ damage. And we might be able to change the genetic defect, but we’re not reversing the damage that’s been done to the rest of the body. Right.
And there’s some good examples of this, like, there’s been some gene therapies that are on the market now for rare forms of blindness. So we can treat children with this. And you know, they see better, right, they can operate a microwave, and they couldn’t do that before. But can they operate a car? We don’t know that yet. Right. So it’s not the same as they have perfect vision. They’re walking around. And they’re the superhumans because we have gene editing, and gene therapy. Now, there’s a lot more nuance to consider there.
Dan Kline 23:19
So Maxx is more about managing cancer. I mean, nobody talks about the fact that we, I don’t want to say have cured HIV, but HIV isn’t the death sentence it once was, at least if you have money, it isn’t the death sentence at once was, and that’s sort of underwhelming because it’s not actually a cure. It’s sort of like, here’s what you have to do the rest of your life. And this probably won’t be what kills you, is that what’s likely to happen with with cancer and other sort of insidious diseases.
Maxx Chatsko 23:45
Yeah, that’s probably true. It’s more about management. And again, another component of this is we’re also getting better at detecting these diseases or these cancers at earlier stages of development. So you know, if you detect it when it’s before, it’s, you know, stage four, or stage three, and it’s in your lymph nodes or elsewhere in your body, then we do have much better potential for the like your long term survival, again, so maybe it’s remission for the rest of your life for decades, instead of a couple years.
We’re also getting better at you know, pinpointing, or like boxing in cancer, right? We can treat it very well, initially with some of our current generation therapies, but cancer is going to mutate, it’s going to find other ways to evade, you know, that treatment. So we’re finding better combination therapies to kind of like box in all the mutations that are possible, so that a cancer really does die and get put into remission for a very long time. So, yeah, management’s probably a better word. And that’s, again, to the point of doctors hate the C word for cure. They talk about the durability of, you know, the treatments. So, you know, I would say focus on the durability of the response, not the cure word, right.
Dan Kline 24:55
It’s also important to know and Maxx I’m not quite this old, but is it fair to say we’re only about 100 years removed from unlike a bad cut that gets infected had a decent chance of killing you like, like we’ve come a really long way even in my lifetime, you know that that things that that probably killed my my grandparents, at least on my mother’s side who died fairly young. Probably wouldn’t have killed them now.
Maxx Chatsko 25:19
Yeah, I, one of my hobbies is I collect antique science books again, I’m a nerd. So you know, I’ve read some books on like, the history of genetics or epic or eugenics. That’s like a dirty word now, right. But back in the day, that was just like amazing breakthrough, oh, we can have eugenics we control populations of people at the genetic level. Obviously, I understand this is a terrible idea now. But back then, because like, you know, people were surrounded by death, people died in childbirth. You know, the mortality rate of people under five was was very high. You know, and yeah, you could die from getting a cut on your finger. Right? I think, like President McKinley, son died from getting a cut by a rose at the White House. Something I might be mixing up that president but yeah, it wasn’t that long ago, people were dying for things that we don’t even think twice about. Now it’s more of an inconvenience.
Dan Kline 26:08
So we’re talking the next big thing, you’re watching 7investing Now. And again, I will, I will give a little note of caution as investors, it’s very exciting to decide that, you know, the next big thing is biotech or agricultural tech or tech at Tech, or whatever it is, it doesn’t matter. And then go find a bunch of obscure companies and invest in them. And the reality is that strategy requires a level of expertise of someone like Maxx Chatsko, of our own Manisha Samy, who are covering the biotech space, and they are separating the wheat from the chaff like, like that is not something that I could hear about a company and it could sound awesome. But the reality is, it could be a bad idea. It could be a company that’s great at executing, but terrible at marketing, it could be something that’s going to be so expensive, that it doesn’t matter that it’s a cure for whatever, nobody’s ever gonna be able to get it.
There’s a lot of nuance to this. And that’s true in technology as well. If you see I saw the early demo of the Microsoft HoloLens where mostly we played Minecraft, but for the most, you know, they showed off some of the cool things they could do. And I could see that the high end business implications if you were designing a, you know, 90 storey skyscraper in a city and and to show what your plans are going to look like you put a HoloLens on everybody, and they sign off on your $400 million building or your billion dollar sports stadium. Well, that’s going to be worth a whole bunch of $2,000 HoloLens is if you can put a HoloLens on in LA and direct a surgery in Sydney, Australia, that’s going to be worth whatever it costs. But if HoloLens makes it more fun for me to play, I don’t know Batman Arkham Asylum, that’s not that important.
Like, I’m sure my son would want, you know, a headset, so he can play like more and more immersive fortnight or whatever he’s playing. He’s not playing fortnight whenever he’s playing now. But But I don’t think those are going to be game changers. So it’s really easy to talk yourself in as an investor, that these are great ideas that these are the next big things. And then even some of the things that are the next big thing. So let’s look at cannabis and people all the time. Oh, my God, cannabis is going to be legal. We see increasingly … all these companies are going to do great. Well, actually, cannabis is kind of like milk. It’s pretty much a ubiquitous product. It’s not that hard to make. And it’s really hard to make money in this space doesn’t mean there aren’t winners in cannabis, there are absolutely going to be some big winners in cannabis. But it’s probably not the people whose main thing is growing cannabis.
So you’ve got to be really careful here AR might be a thing. I don’t think it’s gonna be the next big thing. Panda capital says, What about quantum computing in five to 10 years? Max, do you live next to the Pittsburgh giant computer and french fry hut or whatever it’s called? quantum computing, to me still seems like it’s gonna be really useful. But I don’t have any need for quantum computing. I’m pretty sure.
Maxx Chatsko 29:03
Yeah, obviously, initially, this will be like commercial applications, right. And in my little area, the market for you know biotech and biology. Quantum Computing could be huge, right, we could almost instantly solve a lot of these problems that take us years and years and decades today, with today’s you know, computing power. I have no insight into whether it’s five or 10 years away, or how viable it’s going to be at the commercial level in five or 10 years. I we’re making great progress, but I don’t know how soon that is coming in terms of investing opportunity either. Right?
Dan Kline 29:36
It feels really important. It doesn’t feel like the next big thing. Now it might be the next big thing in terms of serving humanity’s problems, but I don’t know that it’s gonna be investing.
Maxx Chatsko 29:45
Yeah. When I when I was in grad school, right? The joke was, you know, nanotech. It’s been five years away for 10 years, like every year. It’s one of those things quantum computing, it’s coming eventually.
Dan Kline 29:55
And I yeah, that is a that is what you hear a lot. If you’re a Cleveland Browns fan, where Five years away, it’s been that for 25 years, the money cog, who I will point out, the only real cog is a Cogswell cog, suggest ag tech, that’s agricultural technology. I actually think I don’t know what the investment plays are here. But I do think as we head to the stars, that which is something I think we’re going to do in the next 20 to 40 years, maybe a little sooner than that, we are going to have to figure out how to grow food in different ways. And we’re, we’re starting to see practical products and applications of that. And, you know, things like vertical gardens, which weren’t a thing, at least a mainstream thing a few years ago, are readily available. So Maxx is close to your space, is it one you believe in?
Maxx Chatsko 30:42
Yeah, so in terms of like space, right, we always talk about like Tesla, or the Blue Origin, zero, you know, NASA, whoever, right. And, you know, the important thing to remember is all those space companies aren’t going to be going anywhere, if they don’t have biology, right, we need to grow food, we need to purify water, we need breathable air on a Mars colony or Lunar base. So we do need some pretty good advances in industrial biotech to grow foods and then and grow materials for building right, I can shoot people up into space with a test tube of microbes that are going to expand and grow a lot harder to bring, you know, 1000s of tons of concrete up to space, right?
In terms of Ag tech investing opportunity here on Earth, I think, again, this is kind of a space, that’s a little hypee. It’s also a pretty broad term, right? ag tech can be, you know, digital platforms for surveilling, you know, millions of acres of farmland. We have another question here. I see also an ag tech, you know, and it’s like indoor farming and things like hydroponics. So there’s some great opportunities there. But it’s mostly niche, you know, either remember, agriculture requires, you know, 10s of millions of acres, just the United States, it’s very land intensive to grow the volume of food we need. So it sounds great to put these things indoors, but you’re limited by how much space you have, right? So yeah, it’s a niche application, I can see it supplementing food production, maybe in certain regions. But in terms of the actual opportunity, or an investing opportunity, I think it’s still relatively limited.
Dan Kline 32:10
So let’s recap a little bit space, concrete, terrible investment, you don’t want your money in space concrete. And a lot of these spaces and kind of the reason we’re doing this show today is I do feel like a lot of times people who view themselves as long term investors are chasing things that are going to be 30 times in a year because it explodes. And here’s the reality, that’s not typical, typical is that Google buys some four person startup you’ve never heard of, and all of a sudden, they’re 3D printing, you know, new lungs, and and it doesn’t become an investing opportunity, unless you were the rich guy who started that four person company. So I do think you want to be careful. Here’s another one from Sparta. 16. If you want to put that question up, Sam, he asks about AD tech, talks about a company named acuity. And he wants to know if there any, you know, any thoughts on increased engagement with ads with ad tech.
And here’s what I would say is your best advertising technology plays are Roku and Google, there are companies that have massive amounts of ad data that are being able to deliver efficient ads. That doesn’t mean I don’t know acuity doesn’t mean, there won’t be other companies, you know, that are in that process. The trade desk has obviously done well, for a lot of people. But this idea that you’re going to have startups that come into spaces where giants control most of the inventory, it happens, but it’s not typical Maxx I know, this is not your space. But do you feel that ad tech works. And I will say like, I don’t feel that I’m ever getting served ads or not ever, but usually, from what I would actually want, I feel like there’s a long way for this to go.
Maxx Chatsko 33:51
Yeah, and I left my tinfoil hat in the other room, Dan, but I’m very pro privacy. So I have some interesting takes on. You know how advertising works today. And it’s kind of built on this surveillance model, right. And a couple of privacy laws could really change how this industry operates. So again, I don’t know a lot of the players in this space, but the largest companies are probably ones that will continue to win. And they might have a trickier time to if there was even some very basic low level privacy laws that get introduced here in the next decade. So, you know, is this opportunity maxed out? I don’t know. But advertising is kind of in this eternal industry, right? It’s been there for hundreds or 1000s of years. So I can’t imagine to go anywhere, but it might look a lot different in five or 10 years.
Dan Kline 34:37
I think there’s a huge market in better advertising, more focused advertising, where we’re literally the Superbowl is making more money, because not every ad is going to every person or every home and and instead of getting paying five and a half million dollars for an ad that goes to everybody. Maybe somebody’s paying 4 million somebody’s paying 2 million somebody’s paying well million. But but the same broadcast you’re getting the right ad for you. I think there’s a lot of technology. Obviously Roku can do that. But it only knows so much about me like, somehow it knows that I have been looking at used cars. The problem is when I buy a used car, I won’t need another used car. That that is a big problem in this technology.
I’m not as big a fan of privacy. I am someone who is very public, it is not hard to find my personal email address or probably my phone number. My wife has told me to not say where I live specifically on air. So I try to not give away my address. But I am pretty easy to find. I’d love to be able to go in and say you know what kind of ads I want. Boy, I love superhero shows like Could you give me every trailer for a superhero show or movie that’s coming up? on by the way, like I’m thinking about buying a new monitor to replace my monitor with the whole one it like, can you start giving me some ads for that, like whatever it is, I agree with what Maxx says like, it is creepy.
Sometimes the ads you’re being served where like, you just like looked at something and target you didn’t say it out loud. And then you go home and there’s ads for it everywhere. It’s like, that’s not great, like so I do want to see more privacy. But we’re going to switch gears in a second. We are going to talk about some new Pfizer vaccine news. Before we do that, Chooch, we appreciate your comment. AI will be powering all future tech that part I agree with advanced neural networks. So neural networks Maxx that’s the that’s like implants or headgear where like you could do brainy or stuff and control. It’s like what Elan Musk was testing with pigs. I kind of don’t feel like that’s gonna be a thing. Am I wrong?
Maxx Chatsko 36:37
No. Neural Networks. like machine learning how to integrate data I believe that makes
that makes more sense. That’s why Maxx is here. And not just me.
Maxx Chatsko 36:46
Yeah, I mean, again, ai? You know, it’s um, yeah, I don’t know, it’s powering a lot of things increasingly, right health care, renewable energy, when to send power to where and the grid, a lot of these very complex systems, ai or machine learning? Great. You need to have enough data and you need to know how to train your algorithms, right? You need to have annotated data, you need to know what the data say. So just having a bunch of data is not that valuable if you don’t know what to do with it. But yeah, we’re increasingly seeing it use and provide value. Again, man, I sound like I’m such a Luddite. Hmm. But like, there is a lot of hype around AI. And a lot of companies say the term AI, we’re using artificial intelligence to do some stuff. And then, you know, it can be a little misleading, I think.
Dan Kline 37:28
So we’d happily take some more questions and comments. But Maxx, let’s do a little bit of a promotion here. So I was away last week, you know, I was volunteering and, and getting that my second vaccine dose. And a number of times someone asked me, Well, what do I do? What is seven investing? And it’s really easy to say we share seven best stock picks every month. But when I really thought about it, what do we do is we make investing something that’s for everybody. And there’s a lot of people watching that are pretty seasoned investors, they know how the market works. There’s a lot of people that are going oh my god, did I miss out on GameStop? Should I have bought AMC? I feel like as much as we’re here for the season, guys who want our pics and really know what to do with them, that we’re here that this show and that the seven investing subscription is for the person that’s pretty sure they should be in the stock market. And don’t know what that means that that wants to know every step of the process. So like when we do our new members call, we talked through basic things like how do you get a brokerage account?
You know, on the show, we just did a show last week, what is long term investing. And, you know, we talk about that fear of missing out, it’s not that important, it doesn’t really matter when you buy a good company. You know, valuation can matter. But buying it Monday versus buying it Wednesday, generally isn’t that important, or just because something’s hit an all time high doesn’t mean that’s time to sell it, or sort of tuning out all these people who are talking about like, you know, price targets and charts and, and brokers we’re giving you advice based on the fact that the more moves you make, the more money they make. I feel like what we do is make something that seems really complicated, really easy for everybody. Maxx tell the people how they can subscribe to 7investing
Maxx Chatsko 39:08
yet and Absolutely, I mean, you know, long term investing is absolutely your biggest advantage as an individual investor. And a lot of is just about suppressing emotion just buying a good company knowing what you’re getting into. And then just holding it for a longer period of time, then you know, a day trader or, you know, don’t get into penny stocks. So I think we provide a lot of insight that maybe beginning investors don’t have access to it’s not really always readily available in a palatable format. So that’s what we do. If you want to subscribe to seven investing, you can go to seveninvesting.com/subscribe, make it very easy. $17 a month, also an option for $170 per year, which is an even better value. Dan, I don’t know what the math works out to you, I forget but uh, it’s less than $17 a month.
Dan Kline 39:50
That is two months for free. So we’re happy about that. And of course, if you follow us on at seven investing on Twitter, you might find a sharing one of our friends Members who share their referral code. Every member gets a referral code for every person who signs up. Not only does that new person get a deal, they get it for 10 bucks a month, the member gets a free month we have people who are going to keep me working well past old age here that have, you know, 5, 6, 7 years. Well, that’s not that old, but 5, 6, 7, years of free membership because they liked the product so much and they share it.
So Maxx, you know, I got the Pfizer vaccine and I got to be around at my first volunteer appointment. I was around the pharmacists who were taking this out of cold storage, mixing the vaccine, it has to be sort of reconstituted, and then put into individual syringes. I got to see this. There were some very strict parameters for how this had to be handled. But Pfizer actually thinks this could change Maxx do I explain what this news is?
Maxx Chatsko 40:49
Yeah. So Pfizer has been collecting data from batches of its vaccine that’s collected when it was in clinical trials, and even some of the first that were distributed. And to go into the arms of Americans or Europeans around the world. I then went to the FDA and said, hey, look, we have data that show, you know, our vaccine is viable at a warmer temperature, right? So if Sam can show the graphic that I have there, but you know, a lot of these supers to vaccines for moderna and Pfizer also it’s really a biotech vaccine are based on mRNA talk technology. And that’s great has a lot of advantages.
But one of the disadvantages is RNA molecules like to degrade they’re not very stable. So they have to be kept at very cold temperatures in order to keep their stability. So as you can see, moderna is at negative 20 degrees Celsius, for their storage temperatures for how long it can remain stable. And I think this graphic is for six month viability. And for bio entech and Pfizer’s vaccine, it’s at negative 70 degrees Celsius, that’s colder than where Steve is in Montana most of the time. So the data that Pfizer and biotech have show that this vaccine can actually be viable at kind of closer to negative 20 degrees Celsius for two weeks. So it’s not forever, it still has to be shipped in colder storage containers and specialized equipment.
But you know, at this point in our vaccine drive as a country, there’s no reason that this has to be is stored anywhere for 30 days, right, we should be sending these out and putting these in the arms and shoulders everywhere every chance we get right now. So if we can increase the temperature that you can store, the Pfizer vaccine that makes a lot of these distribution and logistical bottlenecks. A lot easier to manage. Right. So maybe we can distribute this in different regions or localities, maybe suburban or rural communities don’t have as much of the medical infrastructure. As you know, a negative seven year negative 80 degree freezer would require. So this can really help. And especially, you know, we have the Johnson and Johnson vaccine, which is coming soon. I believe there’s an advisory panel for that this Friday at the FDA, so that should be approved maybe this weekend or early next week. So we’ll have three vaccines soon from three major producers, that’s going to make it much easier as we get into the spring to distribute more vaccines, and probably actually most Americans that are eligible. You know, by the end of the spring by the summer, I think that’s very plausible.
Dan Kline 43:10
So a couple of notes here. First of all, I just love the idea that Steve in Montana just keeps the vaccine outside, like you don’t even need any special equipment. It’s not that cold there. The second thing is if you go someplace to get vaccinated, and they don’t do it in your upper arm around the shoulder, you’re not in a vaccine place. So if they ask you to take your pants off or or any other sort of vaccination, they are not giving you the COVID vaccine, you have fallen for a scam. I’m teasing a little bit, but there are a lot of COVID scams out there. So be really, really careful to make sure you’ve actually got an appointment at a legitimate center. It’s really easy in most communities to know where the vaccine is being given out that those places will increase soon.
Maxx Chatsko 43:50
Wait, Dan, I bought all these vaccines online. What do you mean?
Dan Kline 43:53
That Yeah, and be very wary of Maxx I’m sure you’ve seen all these commercials where it’s like, it’s 99.9 effective at containing the virus and like it’s great if you buy like a wipe or a spray or whatever, or UV light. But that’s not that’s not the same as wearing a mask and following good procedures and doing what you’re supposed to do. Be really wary of like companies you’ve never heard of making claims that are are pretty far out there is that Yeah, give the give the medical take there.
Maxx Chatsko 44:25
I always love that actually before the pandemic, right you have like sanitizer that says it’s 99.9% effective. With biology you have like billions and trillions of cells. So that point 1% that’s not effective. It’s still like billions of cells that’s more than enough in terms of as biology is concerned to to infect you or whatever. So yes, absolutely wear a mask, you know, get vaccinated when you can be wary of all these claims are out there. There’s a lot of people trying to profit off of this.
Dan Kline 44:53
So Maxx I’m seeing all sorts of like competing timelines here. So let’s pretend we get efficient in that. To end we have enough vaccine and enough willing Americans that let’s say 75% of the population, including kids, say at least 16 and older, are vaccinated by the end of the summer. What does that mean, in terms of return to normal? I think that in the investing world, the whole return to normal is something a lot of people are concerned about, and, and sort of, you know, ready to have happen, but it doesn’t mean everything is okay. Right, when we if we get to those numbers.
Maxx Chatsko 45:30
Yeah, that’s true. So I think by July, or in sometime in July, the United States expects to have 600 million doses available. So there’s only 330 million Americans. But for each of these mRNA vaccines, you need two doses, right? So if you exclude children who currently cannot get vaccinated, because we don’t have the data for that yet, we don’t know the dosing that is needed to provide protection for children. Basically, everyone that wants a vaccine can get one or both doses, certainly by July by this summer. So that says things are pretty well for the fall in terms of returning to a significant degree of normalcy.
But I think, you know, we’ve already had health leaders come out recently and say just that, yes, by this, by this fall, by this winter, we should be in pretty good shape compared to the last year. Well, we also might need to wear face masks in 2022, as well. You know, with the virus potentially mutating as well, you have to consider that every host, every person that gets infected is an opportunity for the virus to mutate off of a vaccine or off of some of our antibody drugs. We’ve already seen that playing out in South Africa with some of those variants. So we do not want that to happen. So the longer we can all you know, protect each other and ourselves, the you know, higher chances we have to actually put the pandemic behind us.
Dan Kline 46:49
Last question, Max, then we’ll hit the homestretch. We’re going to do just a quick one for the homestretch. Today, we’re gonna we’re gonna skip what we had planned. We had planned to talk about Disney taking on the NFL, and a bump that to Wednesday or Friday show I thought this was kind of too important. Maxx I’ve seen a lot of let’s call it analytical, or we believe data about whether vaccinated people can pass it on or have a lesser chance. And we don’t have that data yet. And I read about this today, because they weren’t swabbing people’s noses. Because that’s the first place the data the virus goes is the mucous lining of the nose of the eyes of places where you don’t get it, but you might carry it on, when are we going to get actual data on whether the fact that I’m vaccinated makes it safer for my wife and child who I’m around regularly without a mask,
Maxx Chatsko 47:36
I actually have no idea. So I don’t want to comment. I don’t want to give out health advice, just speaking off the cuff. I would say though, you know, once you’ve been sick, then you have a much lower chance of passing it on, right, we’ve already that’s been the guideline for a year, if you’ve been sick, and you quarantine, after so many days, it’s okay to leave quarantine because you can’t pass it on anymore. So I would expect the same thing to be true for vaccines.
Dan Kline 47:58
So I so I should have shared the story I read with you basically says that they’re doing those studies now that many of the people in the initial vaccine studies, it doesn’t end when they approve the vaccine. So those people are now going in to see what their viral loads are.
And, again, anecdotally, the initial data shows that you probably have a much lower chance of spreading it. And we will see in the next few weeks, months, depends how they process the data, you know, some guidelines on that and sort of what it means, like I know, you know, my wife wouldn’t be thrilled if I gave her a mild case of it. But if that was the risk, that would be a different risk profile than if it was likely she could still get a full blown case of it, even if I you know, have have mostly immunity. So with that said, we’re gonna go right to the homestretch.
And it’s one question we’re going to Roman Michaels. And I hope you have some thoughts on this, because this is not in the chat here. This was in my Facebook stream, which did not pop up on the chat. He’s Maxx. Do you have any thoughts on 23andme going public via merger in the next few months? I have thoughts, but I’ll give Maxx the first word here.
Maxx Chatsko 49:05
Can’t wait. Yeah, I think it’s gonna be like a SPAC right. So you know, 23andme. So this is complicated, right. But when people hear genetic testing, I think everyone thinks that’s one thing. And the reality is it’s not there’s a lot of nuance into those different products or how companies go about reading the genome or genes, things like that. Right. So my analogy, and I hate analogies, but I think this is okay.
When you hear genetic testing, you think this is big opportunity. Every time you hear the word or the term genetic testing, I want you to think beverage industry, right. So imagine if you were talking about the beverage industry being this great opportunity, it’s going to be full of growth. There’s a beverage revolution, right, whatever hypee marketing terms you want to use. That means almost nothing, right? What kind of beverages are we talking here, we’re talking about infant formula, we’re talking about alcoholic beverages or like aged whiskey, there’s a lot of beverages and that’s the same exact thing for genetic testing.
So with 23andme it’s very low level, we call it genotypic data do you know type data. So it has like population level data, right from everybody spitting the tubes and mailing it in. And they’re trying to say they can sell that to drug companies. And that’s useful somehow to them. And it might be and they’ve sold some of the data for a lot of money. I would question though, as we get better at providing higher quality data at lower cost, that opportunity for these population level companies might fizzle out, it might not be a sustainable opportunity.
And also, you know, health isn’t about what genes you possess, it’s about what genes you are expressing. So you might have a gene that says you’re more likely to get prostate cancer, but you can also live to be 130, and run a marathon at the age of 110. So having that gene doesn’t really tell you a whole lot. So I would be a little more cautious and dig into the nuance around a lot of these, you know, genetic testing companies, there’s a lot of ways to do it. Not all of them are the equivalent opportunity.
Dan Kline 51:00
The core product for 23andme is a novelty product. It is you know, get some genetic information, find out if you have siblings you didn’t know about that can get some some people in trouble. But here’s the reality. It’s kind of like a step beyond like the eight foot teddy bear or like having a star named after you’re like I get it, there’s some useful information they might sell it. Um, but to me, this does not feel like an investable company. And again, I haven’t, we don’t have an s one because it’s not a traditional IPO. Any company like this, give it a couple of quarters of reporting earnings and have the SEC requirements for what they’re putting out there give you a much better window into what you will learn than just going
Oh, it’s company I heard of genetic testing that should be big. Like you’ll know a lot more two quarters from now than you know right now. Sam Bailey, it is time to hit our finisher, which industry has the least chance of being successful for investors? So Max, I asked this question. And, Sam, I’m going to talk to Maxx for a minute so you can put it back up? in a second.
I asked this question because I got food delivery this weekend I ordered from doordash. And this is not a unique to doordash problem. I’ve had the same problem with all the food delivery people but we ordered from the Cheesecake Factory. And right now your driver cannot look in the back and see if your order is there for obvious reasons. We ordered three entrees, my wife got a salad. My son got a flatbread pizza, and I got the spicy cashew chicken. So mine would have weighed like I don’t know twice what there’s weight. What showed up my son’s pizza, my wife said. So I contact doordash and which has still not responded, I tagged them on Twitter. I mean, I contacted them the correct way for customer service. But I also called them out on Twitter,
Maxx Chatsko 52:51
Calling them out on Twitter. That’s the best way to do that.
Dan Kline 52:53
Because here’s what happens when you report this via customer service. They refund your money. Now, I don’t want a refund. I want my spicy cashew chicken. That is the problem like this would be like and I use this analogy online. If United Airlines flew me west palm to LA, but stopped in Denver and went, hey, you’re on your own to get to LA. But here’s $42 back. No, that’s not. So I think the customer service problem that this business has, is insurmountable because they don’t care. I’ve had the same thing happen for Doordash, Uber Eats and Grubhub. None of them say okay, the issue is you didn’t get some of your food, here’s how you can get some of your food, you can go pick it up yourself, and we’ll give you $100 back. We’ll deliver it to you but it’s going to take 20 minutes, or whatever it is, you know, that needs to be solved.
So Sam, if you could bring the graphic backup, you can tell which one I don’t like but ride-sharing got 17.7% I also don’t think ride-sharing is ever going to be a viable business until we have automated cars. And if we have automated cars, that business gonna look very different. cannabis is a tough business to be in as well. food delivery was at 41.3% and space tourism came in at 26.3% I actually think space tourism, tourism will eventually be a massive business. I just don’t know if that eventually is 10 years from now or when my kid has grandkids like it’s it’s haven’t figured that one out. Maxx, what’s your thought on this question here? Yeah, I
Maxx Chatsko 54:25
think, you know, Cannabis, he brought this up earlier. You know, there’s a lot of bad companies out there. But that’s an opportunity that is going to be successful, I think for the right businesses and the ones that execute space tourism. Maybe that’s a niche luxury thing for a while if that ever takes off, but that could still be big. I would probably I would go with either ride sharing or food delivery, the they just seem to be based on these really poor economic assumptions. You know, you can either like, charge too much and then nobody wants to use your service or you charge too little and then who wants to deliver food for $3 An hour. So it’s just weird. Just being the middleman doesn’t work. And like you said, when you’re the middleman, you don’t care, you know, customer service. Like it’s what are they out? Right? So it’s,
Dan Kline 55:08
and yeah. And people always say, Well, what about automated drones? And I’m not sure most municipalities you know, Maxx, we both live in cities of different densities. But I’m not sure my Hoa complex wants drones delivering me a pizza? And how would that work in New York City like you live in like the 15th floor, how many people will fall to their death, trying to get a burrito off the drone like that, that doesn’t seem practical to me. And we do see some robot last mile delivery with with Amazon and other people. But we are a long time away from this happening. So who does delivery?
Well, Domino’s does delivery? Well, if you have a product people really, really want, it might make sense for three or four restaurants to team up on a delivery service or some of these, you know, big chains that have a density to do it on their own. But Domino’s is still cheap, they’re really good at delivering, they provide full transparency with their tracker app. And I could 99.9% guarantee if I called Domino’s up and said I ordered four pizzas and you sent me one, that they would then just send someone else with three pizzas, that is the correct solution for the problem.
Maxx Chatsko 56:17
And you know, I’m sorry, with with like, you know, I’ve a lot of local restaurants that maybe because of the pandemic, you can now order online on their website. So doesn’t that kind of change the need for them to go through Uber Eats or one of these other food delivery companies, you know, if you can order on their website, and then they have delivery drivers? Isn’t that kind of take the convenience back and they’re in control of that again?
Dan Kline 56:37
It does, and I’d rather pay for the better experience. So our initial order on on Saturday night was we tried to order from a local Japanese Steakhouse here on it was on Uber Eats might have been doordash might have been grubhub, it doesn’t matter. And someone called me and said, Hey, they don’t have this item on your order. And I said, Is this the restaurant? They said, No, it’s it’s Uber dash or whichever one I was using? And I said, Wait, are you just calling my order into the restaurant? And they’re not actually on your platform? They said yes. And I cancelled my order. Because one, there’s no way the sushi place was out of salmon that is absolutely impossible. And two, if the restaurant didn’t agree to be on the platform, this method they use of like taking the order anyway and calling it in doesn’t account for things like specials price changes, like it is a very, it shouldn’t be legal and it’s not a great system. There should be full disclosure when that happens.
You’ve all heard my rant on that before, so Maxx gonna end the show. I appreciate you doing this. We appreciate we appreciate so many people watching. How can you get in touch with us? It’s really easy. If you want to email us and email things that are questions about our service questions about how the site works, problems you might be having. Don’t email us about an individual stock that’s better for Twitter, but you can email us at email@example.com it’ll get sent to the right person. And if you want to ask some of those like broader stock market questions that you think might be useful on 7investing Now are useful to a broad audience. That is at @7investing the number seven, investing on Twitter, we’re really responsive.
But generally like today, I had a bunch of people throw some penny stocks at me and oh, wow, there was no, we don’t cover penny stocks. We’re not interested in penny stocks. We are trying to make investing in good companies available to as many people as possible. We appreciate you coming along for the journey for Maxx Chatsko. I am Dan Kline, we will see you Wednesday.
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