“They Ruin Everything”: Ben Cahn on Private Equity and Tapatio

Welcome into StocktwitsTV. Michele Steele is joined by Ben Cahn—and yes, the Wi-Fi lives. First up: Michael Burry is buying the dip in PayPal after the stock fell more than 80% from its highs. Michele lays out the debate and Ben gives his take: he thinks people may be overcomplicating the story, and that PayPal’s real issue is competition—Apple Pay, Zelle, and a Venmo that’s “free for the most part.” Then the headline that sounds fake but isn’t: “Tapatio, Ozempic, and the hot sauce trade.” Michele explains the theory: GLP-1 users may crave bold flavors without adding calories, which could boost hot sauce demand. Ben reacts to the news that Tapatio sold to a Dallas private equity firm—after 55 years of family ownership—and goes on a passionate rant about private equity “ruin[ing] everything” if they mess with the recipe. They wrap by zooming out: how consumer trends still create real businesses, why America never stops spending, and why this segment somehow ends with Walmart not taking Apple Pay. Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision. Read the full terms & conditions here: https://stocktwits.com/about/legal/terms/ #stocktwitstv  Chapters 00:00 - Wi-Fi jokes and intro 01:05 - Michael Burry buys PayPal 02:10 - “My mom uses PayPal” 03:05 - Why Ben thinks it’s boring 04:25 - Competition: Apple Pay, Zelle, Venmo 05:55 - “Official P2P of the NFL” 07:05 - What does that even mean 08:40 - Walmart doesn’t take Apple Pay 09:35 - Tapatio, Ozempic, hot sauce 10:55 - 55 years, recipe never written 12:10 - Private equity buyout reaction 13:05 - “They ruin everything” rant 15:10 - Brand deals and food fads 16:20 - Vitamin Water and BodyArmor story 18:05 - Wrap