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Automatic TRANSCRIPT

I grow Bazi James Positions. He's retired first ballot business hall of Famer over here just retired as the CEO of Disney. Suddenly this is the top of the HEAP team. Time All Star Baby Daddy of baby. We're talking about Simba's personal mentor. We're talking about the guy who gave a kidney tinkerbell. When she had trouble flying snatchers. Were talking about Bob. The now former. Ceo of Disney. You've heard of Allama Steve. Jarrett Jack Mosser Richard Branson. You haven't necessarily heard a big Bob Eiger. But he's the. I'm sorry the former CEO of Disney since two thousand five and he's like what he did here is he didn't make his personality. The thing you should. Well you Got Walt Disney Mickey Mouse and like Superman. He let them carry the load on this thing. I gotta think Superman's DC and he was technically supposed to retire at the end of two thousand twenty one as a prize room. Jack and I are preparing the podcast. And we get an update. Bob's out we pulled an audible peyton manning style and we started to research. Bob Eiger Disney for the snack. Probably was gonNA take a three day weekend decided to extend to forever now. We said he's retiring as CEO but he will remain the head of content creation for Disney through twenty twenty one guy with like the whiteboard and like a bunch of Shari's being I think I think it should look like this. If you've seen the movie saving Mr Banks you know we're talking to you. If you know you know now I is arguably the most important person in Hollywood Yup media sports and toys okay. Hollywood Disney is the biggest movie studio by far at six ninety nine per month. Disney plus is basically a public service for TV movie binges. And it's like Oprah given this stuff. The National Parks Right Wonder Jack Sports. Two of the top six most watched things on television last year. We're football games on. Abc and ESPN. Guess what Disney owns both champs and then finally toys baby. Yoda enough said. Disney has battled through the financial crisis. Yes the great recession and the cord. Cutting destruction of cable TV snacker. Jack and I look at what Disney done. We see Bob Eiger as the guy who has seen it through it all took over in two thousand five win Disney owned twenty one cable. Tv Let's time travel back to two thousand five because ESPN was the only prophet puppy for Disney fifty. Five percent of Disney profits came from cable. Tv that's kind of a shock. Three years later two thousand eight NETFLIX LAUNCH. His streaming becomes a thing. That's a huge threat to Disney right. So what a Disney? Do they went out? And beefed up on content before net flicks ever quiet marvel studios they acquired Fox acquired Pixar and they acquired Lucasfilm's Aka Star Wars. And then they said you know we're GONNA need a little bit of technology to go along here. They bought a bunch of tech companies to help with the streaming. Thanks to those savvy moves from the leadership of Barbecue. Disney today is still threat. They got Disney plus theme parks and movies all living their best line. The stock today is five times higher than the day. Bobby Agar took over in two thousand sign my autograph book over here over up. Disneyworld and police tells the takeaway for our buddies over at Disney. The new guy. Disney seems kind of unqualified for the job. He's a theme park. Yeah not to go a little more extra linked to nine you guys but we're doing a little resume deep dive on this thing bikers. Successor Bob Capex Pack. He seems like the wrong guy for the drought right. You know what is a most recent position as head of Disney theme park? We got to endorse this guy for like knowing how to cut the line. He's an expert at Epcot. You'll like pointed a good Mexican restaurant knows all about the animal kingdom. Keep your hands flat if you want him to bite your fingers. It's a small world after all. Everyone knows it's kind of scary. He can kind of guide you through. That's Bob that's not exactly the skills that we're looking at this twenty-seven years ago before he joined Disney. Yeah shape. Pack was at Heinz Ketchup. Comp okay snacker nothing Heinz Ketchup. We use it on everything we squeeze it. Every day doesn't seem relevant though to a company that's trying to define the future of media and Disney's future is all about future media plus ESPN plus in Hulu. Those are the three core things the nucleus drive the rest of Disney's Zico. She heard this news. We sit down and slap each other because it feels like Netflix is offering the CEO job to the guy running the DVD. Yeah you don't want that. Dvd is not the future of noth- and maybe that's why Disney stock dropped six percent after the news. Because Bobby Agar is retiring four. Our second story shake shack stock dropped fourteen percent. Because it's going through a teenage slump full disclosure. Yeah we should do. This is emotionally compromised when it comes to covering shake shack. He met his wife at Middlebury College. But only on a first like four years later at shake shack. When you cut into a Schulmberger and I saw the way the cheese drip down Marley's Chin I knew she was the one barks flew when they touched the same cop. French FRY at the same. GonNa have to get a lot of Napkins but it was a beautiful thing now at shake shack. They're actually innovating here with my idea. Yeah what did they burn? Wedding Managers Four Day workweeks Aka three day weekends America. We need less work. Yes or long weekend. It's a critical thing shake shack. Do more of this by the way a very beautiful looking earnings presentation from shake shack they opened up with lots of delicious looking graphics like the Shack Burger. Getting squeezed is just the juicy you wanted. It was like a lot of hugging going on. It looks like there. The the whole chick chat companies going to community building exercise all that goody two shoes feeling was strategic because the numbers were really ugly. No when you look at same shack sales or like stores that are open at least a year. Those dropped three point six percent traffic. Which is the number of human beings that walked in to shake? Checks fell by five percent. Meanwhile they're like Madison Square Park. Line still goes all the way out to New Jersey part of the reason dropping sales and dropping foot. Traffic is a surprise. Is that most of the two hundred seventy five shake shack locations are BAE authored door. Ably Young. Nearly two thirds of all shake shack. Knackers are less than three years. You would have thought that a brand new shake shack in the neighborhood would have boosting sales because of the novelty of a new restaurant just opened up and cow hollow in San Francisco. You literally have to like lobby to get into this thing. But apparently that's not the case. Nationwide sales are falling. So Jack and I looked into this further and we noticed the answer could be on slide number fourteen of shakes earnings deck. They plan to increase innovation in two thousand twenty. The problem shake shack. It's already twenty twenty two months deep. Yeah and then we noticed the CEO had this critical line. Which kind of solidified that? Yeah Yo l you know. We chose to limit our menu innovation in comparison to prior year. Basically you're saying you gave up on the core foods that drove store traffic. What's going on here? Get this the veggie Shack Burger. It's only plan and Hacia check. Not Sure if you've seen this but plant-based burgers are kind of a big deal. We were going to be like an a plant based ASPARAGUS hotdog. By the time in our laps right. Remember Domino's sold salad's not to sell out. They sold salads to sell pizza. Meanwhile shake shack still pumped chicken bites which are just fried chicken bites that they came out with last year and was like the only thing that came out with last year and hot chicken bites there only a limited time option. Come on stop messing. Just put the chicken shake shack. So what's the takeaway Jack for buddies overtake the future of fast food is acting like attack And that means launching new products and eliminating friction at McDonald's. We've spent one billion dollars in the last year on kiosks so that you can order quicker and get your food faster at shake shack. They have like a bunch of kiosk that looked like a high school computer lab..