Robinhood Snacks - 📲 Twitter's CEO gets ultimatum'd

Not getting vipassana meditation vibes... — Elliott Management. The huge hedge fund has bought up over $1B worth of Twitter stock and is putting that power right to work — first by reportedly nominating 4 new directors to Twitter's board. But Elliott also reportedly wants to remove/replace Twitter's CEO/co-founder Jack Dorsey. They think Twitter's better off with a new CEO because...

• He's (too) quirky: Silicon Valley founders are known for their visionary-ish eccentricity. Dorsey takes it to another level: 10-day silent vipassana meditations in Myanmar, a planned 6-month trip to Africa this year, eating 1 meal a day, walking 5 miles to work each day. Objectively cool, but investors are concerned.
• He's got a (huge) 2nd hustle... Dorsey's also the CEO/co-founder of Square, the digital payments company valued at $35B (more than Twitter's $27B). This double CEO-ship of 2 big public companies is unusual. Elliott wants a CEO for Twitter focused on Twitter.

Annnd, Jack might have a favorite child... Dorsey owns $531M worth of Twitter stock, but a re-tweetable $4.9B of Square stock. Twitter's stock is barely higher now than it was in 2013 when it IPO'd — meanwhile, Square is thriving.

The limit does not exist... Panera is launching an $8.99/month coffee subscription for members of its (creatively-named) rewards program, MyPanera — which reportedly has 38M members. Starting Thursday, you'll be able to endlessly fill your cup with hot (or iced) Panera coffee and tea. Panera's CEO said it's the 1st brand to do it, but Burger King launched a similar $5/month subscription last year. Here's the idea:

• $1,100: Americans' average yearly coffee spend, according to Acorns (probably double for nitro cold brew fiends) — Panera's subscription costs $108/year.
• $2.20: The price of a Panera coffee — if you have 5 or more per month, the subscription saves you $$$.

Too good to be brew?... Exactly what Panera wants you to think. It's betting that you'll be a better customer if you're a subscriber:

• Frequency: Subscribers' monthly visits increased from 4 to over 10 in markets where the program was tested, according to Panera's CEO. Plus, 90% of subscribers renewed their subscriptions.
• New Business: Almost 25% of subscribers were new members to the loyalty program.
• Food Sales: Panera thinks you'll stop in for the unlimited coffee, then probably grab a bagel, croissant, or huge kale salad on your way out.

Early bird gets the QR code... Electric scooter company Bird is trying its wing at payments with a new service called Bird Pay. How Bird envisions it: you open the app to unlock a scooter, whizz down the street to a sandwich shop, then pay for your hoagie via a QR code in the app. The angle for customers:

• Novelty: Pretty much none. Apple, Google, Venmo, Samsung and even Uber offer mobile payment products (with wider offerings).
• Convenience: Some (maybe). Saves you a couple seconds if you already have the Bird app open — plus, it's only being offered at certain stores.

Getting locals on the Bird wave... Bird — last valued at $2.5B — is live in 100 cities. Now it's looking to partner with local businesses in scooter-heavy areas through its new payment feature. The B2B sales pitch:

• According to Bird, 58% of all Bird rides start or end at a local business, so...
• Businesses can increase sales by getting promoted in the Bird app (riders scooting nearby see a $3 hazelnut cold brew around the corner)
• In sum: "Birds outside bring business inside," according to CEO Travis VanderZanden (not a Marvel villain)