Help Wanted: Episode Summary – "Funny Business: Lessons From Chipotle's Halloween Costumes, FTX's co-CEO's Prison Announcement on LinkedIn and More!"

Release Date: October 29, 2024

In this engaging episode of Help Wanted, hosts Jason Pfeiffer, Editor-in-Chief of Entrepreneur Magazine, and Nicole Lapin, a renowned money expert, delve into the quirky and sometimes baffling world of business with their signature blend of humor and insight. Titled "Funny Business," this episode explores a series of unconventional business decisions and their broader implications, offering listeners both laughs and valuable takeaways.

1. FTX's Co-CEO Announces Prison Sentence on LinkedIn

[02:26] Nicole Lapin introduces a startling news story about the former co-CEO of FTX updating his LinkedIn profile to announce his impending prison sentence:

"I am happy to share that I'm starting a new position as inmate at FCI Cumberland."
— Former FTX Co-CEO [02:30]

Jason Pfeiffer humorously critiques the move, pondering its impact on personal branding:

"That is the hottest drop."
— Jason Pfeiffer [03:01]

The hosts discuss the balance between acknowledging mistakes and maintaining a personal brand, with Nicole emphasizing the importance of humor in public relations:

"Having some humor about it, you think would actually help him get hired somewhere."
— Jason Pfeiffer [05:06]

Their conversation underscores the complexities of reputation management in the digital age, especially for high-profile figures involved in scandals.

2. Chipotle's Halloween Costume Collaboration with Spirit Halloween

Moving to lighter topics, Nicole Lapin brings up Chipotle's collaboration with Spirit Halloween to create themed costumes:

"Chipotle got together with Spirit Halloween to create Chipotle themed Halloween costumes. There is, of course, a burrito costume."
— Nicole Lapin [06:44]

Jason Pfeiffer critiques the practicality and creativity of the offerings, notably the infamous Chipotle fork costume:

"Thumbs down on the fork costume, because that thing sucks."
— Jason Pfeiffer [07:32]

The duo analyzes the effectiveness of such brand collaborations, debating whether these initiatives are necessary or simply gimmicks. Nicole argues for the potential of surprise and delight in marketing:

"There's something about that makes the brand feel fresh and feel fun and feel like it's just engaging with you out in the world."
— Nicole Lapin [09:00]

They conclude that while some collaborations may miss the mark, others can successfully rejuvenate brand perception and foster deeper customer engagement.

3. Liquid Death's Innovative Marketing Meetings

Jason Pfeiffer introduces Liquid Death, a water brand known for its unconventional marketing strategies:

"Their marketing meetings are basically, let's get everyone together and then get high. Probably the dumbest idea win."
— Jason Pfeiffer [13:44]

Nicole and Jason discuss how Liquid Death disrupts the traditional water marketing narrative of purity and clarity, opting instead for edgy and irreverent branding that resonates with a younger, more rebellious audience.

4. Umaibo's First Price Increase in 40 Years

Nicole Lapin presents the case of Umaibo, a popular Japanese corn snack, facing its first price hike after decades:

"They just raised their prices for the second time in 40 years, and they made a public apology."
— Nicole Lapin [14:09]

Jason Pfeiffer commends Umaibo's transparency in addressing rising costs, highlighting how open communication fosters customer understanding and loyalty:

"What worked was transparency. People will be surprisingly understanding if you are just straight with them."
— Jason Pfeiffer [16:24]

This segment emphasizes the value of honesty in business operations, especially during challenging economic times, and how it can mitigate negative customer reactions.

5. Whole Foods' Recipe Change and Customer Backlash

In a discussion about product standardization gone wrong, Nicole Lapin shares Whole Foods' misstep in altering their beloved berry chantilly cake recipe by substituting fresh berries with jam:

"Customers revolted. So instead of fresh berries, Jason, there would be jam between the layers of the cake because I guess berries are in season at different times."
— Nicole Lapin [37:25]

Jason Pfeiffer parallels this scenario with Taco Bell's successful revival of the Mexican pizza, underscoring the importance of listening to customer feedback:

"If your customer wants it back, then bring it back."
— Jason Pfeiffer [37:48]

The hosts advocate for businesses to view mistakes as opportunities to demonstrate responsiveness and customer-centric values.

6. Nutter Butter's Viral TikTok Campaign

Nicole Lapin and Jason Pfeiffer explore Nutter Butter's recent viral marketing endeavors on TikTok, characterized by surreal and chaotic video content:

"It was just Nutter Butter on drugs at a rave."
— Nicole Lapin [25:54]

Jason Pfeiffer dissects the brand's strategy to align with the unpredictable and eclectic nature of internet culture:

"Nutter Butter is a pretty weirdo brand... it's a brand that you can play with."
— Jason Pfeiffer [27:42]

Their analysis highlights how embracing absurdity and internet trends can rejuvenate legacy brands, making them relevant and appealing to younger audiences.

7. Closing Thoughts on Brand Relevance and Innovation

Throughout the episode, Jason and Nicole emphasize the critical role of relevance in modern marketing. They advocate for brands to:

• Embrace Creativity: Step outside traditional boundaries to surprise and engage audiences.

• Maintain Transparency: Open communication builds trust and loyalty, especially during crises or changes.

• Listen to Customers: Feedback should drive decision-making, ensuring products and services meet consumer expectations.

• Adapt and Innovate: Brands must evolve with cultural shifts and technological advancements to stay pertinent.

Their discussions provide listeners with actionable insights on navigating the ever-changing business landscape, all while maintaining a sense of humor.

Notable Quotes

• "The dumbest idea wins. Go make dumb ideas."
  — Jason Pfeiffer [14:37]

• "Stick a fork in this thing. It's done."
  — Jason Pfeiffer [40:34]

• "Nutter Butter is a brand for you."
  — Jason Pfeiffer [31:35]

Conclusion

In this episode of Help Wanted, Jason Pfeiffer and Nicole Lapin adeptly navigate the whimsical and often perplexing decisions made by various brands. Through their insightful commentary and witty banter, they uncover the underlying strategies that drive these business maneuvers, offering listeners both entertainment and valuable lessons in marketing, branding, and customer relations. Whether you're a budding entrepreneur or simply intrigued by the oddities of the business world, this "Funny Business" segment provides a compelling blend of humor and expertise.

For more insights and to have your work-related questions addressed, reach out to Help Wanted at helprequest@moneynewsnetwork.com.

Note: Advertisements and promotional segments from Airbnb and Chime were intentionally excluded from this summary to focus solely on the episode's content.