Why do people spend $100k on a single Dorito?

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This is a podcast episode titled, Why do people spend $100k on a single Dorito?. The summary for this episode is: Today, if you take a chip out of a bag and think it looks like Jesus, you can either eat it, tell the person next to you, or try selling it on eBay for $10k. In this special episode, Jacob dives into the lucrative market for oddly shaped snacks and the psychology behind them. Thank You For Listening to The Hustle Daily Show. Don’t forget to hit Subscribe or Follow us on Apple Podcasts so that you never miss an episode! If you want this news delivered to your inbox, join millions of others and sign up for The Hustle Daily newsletter, here: https://thehustle.co/?utm_source=hustle-daily-podcast&utm_medium=referral&utm_campaign=show-notes Plus! Your engagement matters to us. If you are a fan of the show, be sure to leave us a 5-Star Review on Apple Podcasts https://podcasts.apple.com/us/podcast/the-hustle-daily-show/id1606449047 (and share your favorite episodes with your friends, clients, and colleagues). The Hustle Daily Show is brought to you by The Hustle in partnership with HubSpot Podcasts.
Who found the 100k Dorito?
01:14 MIN
Other rare snacks that are worth $$$
01:26 MIN
Why do people spend this amount of money on a snack?
02:13 MIN

Jacob Cohen: Howdy folks. It's Monday, May 9th. I'm Jacob Cohen, and you are listening to a special episode of the Hustle Daily Show. So why is it a special episode? Well, it's special because if you ever want to be that person who has some great conversation starter, some small talk material in their back pocket, anything like that, these episodes are going to be a big help. Today that something is chips. Specifically, chips that cost thousands of dollars. Let's get crackalacking. So one day last year I was scrolling through TikTok, catching a funny clip here, some recipe videos there, doing my thing, when I came across something that made me stop in my tracks. What I saw was a clip with 5. 7 million views at the time, with the caption," I found a puffed Dorito. Is this valuable, or should I just eat it?" Now, as it turns out that clip came from a 13 year old girl in Australia who after seeing it go viral, realized the puffed Dorito was in fact quite valuable. To some, it was actually quite, quite valuable. In fact, after realizing what she was in possession of, the girl put the chip up for sale on eBay and she watched bids pour in all the way up to$ 100, 000. Now, in the end, she took the chip offline. Reportedly it violated eBay's food policy, but Doritos itself loved the PR. They ate it up, you could say, and actually awarded her family with something like$ 15,000 for their creativity and love for the brand. And following this story, I grew aware of one of the oddest, probably funniest things I may have ever come across in my life, which is this market for oddly shaped snacks. It exists, and it's just as odd as it sounds. Now, the first thing you have to realize here is that in today's day and age, if you take a chip out of a bag and it looks like, I don't know, Jesus for some reason, you have a few options. You could either eat it, you could tell the guy next to you about your groundbreaking discovery, or you could try selling it on eBay for 10 grand. That is truly the world we live in right now. And as I followed the story about that Dorito from the girl in Australia, I came to learn about this world of collectible snacks. And the first thing that I saw was that this Dorito was hardly the first collectible snack out there, let alone chip, for that matter. So if you go on eBay right now and search, let's say, rare Cheetos, you'll be both entertained and flummoxed by what you find. You'll see hundreds of so- called rare Cheeto listings, including one purportedly shaped like Arnold Schwartzenegger flexing. There's one that's shaped like Michael Jordan dunking. There are a couple claiming to be shaped like penises. I even saw one that resembles the Venus de Milo, which is either a compliment to the artist or a dis. I'm honestly not sure. Many are listed for thousands of dollars, sometimes tens or even hundreds of thousands of dollars. Obviously, I have to say, just because they're listed for that much does not mean people will buy them for that much, but there are instances, many instances where they have sold for lots and lots of money. And that's just Cheetos. So I did some more digging, and it did not take me long to find out that there are all kinds of other well- known instances of rare snacks in various other categories. I learned about a$ 28,000 grilled cheese that looked like Virgin Mary. Came across a$100, 000 chicken nugget resembling an Among Us character. I even read up on a cinnamon bun discovered at a Tennessee cafe in 1996, that reportedly looked like Mother Theresa, and apparently the cafe kept it on display and sold nun bun branded merch until it was stolen nine years later. So this was all very interesting to me, but I wondered, why do we do this? Why are we willing to drop$ 28,000 on the grilled cheese sandwich that looks like Virgin Mary? And asking that question led me to a term known as pareidolia. So have you ever looked at an object, I don't know, some object. Maybe a door, maybe the front of a car, a piece of fruit and thought," Huh? That looks like a face." So that experience is known as pareidolia, which is Greek for beyond the image. It basically means the human experience of seeing shapes out of randomness. It happens way more often than you might realize. Studies have shown humans will interpret something as a face, even with just the slightest suggestion of facial features. Now, whether or not Cheetos, let's say, knew of the actual science behind this phenomenon, they picked up on the fact that people find meaning in the randomness of their cheese curls. About six years ago, Cheetos launched a Cheetos museum PR campaign, in which they gave away tens of thousands of dollars to people who submitted the most interesting Cheetos. The winner, belonging to a Texas woman, was shaped like a cat, and she got 50 grand. It was great marketing, by the way. Vice, I think, PR week found that the Cheetos website saw 525% increase in traffic that month. And it also saw its best week of sales ever in the same month. So pareidolia and the hype people can build around objects they think look like something is the reason you'll see a museum built around Cheetos. It's the reason a Cheetos seemingly shaped like let's say Harambe, remember the infamous gorilla killed at the Cincinnati Zoo in 2017 that turned into a massive meme, almost sold for a$ 100, 000 before the bitter had some second thoughts and backed out, but it almost sold for 100, 000. So while I'm definitely not recommending that you go buy bags of chips in search of, I don't know, the Mona Lisa, I am telling you that the next time you hear about, let's say, an English muffin selling for 10 grand because it looks like her, you'll know why. And bada bing bada boom. That is it folks. For more on The Hustle's tech and business coverage and links to all kinds of cool stuff from around the web, join our newsletter at thehustle. co. Thanks to our editors and executive producer, Darren Clark. I'm Jacob Cohen. You've been listening to The Hustle Daily Show, brought to you by the HubSpot podcast network. See you tomorrow.

Juliet: Hey, it's Juliet from The Hustle Daily Show, and I'd like to tell you about another podcast. Business made simple, hosted by Donald Miller and brought to you by the HubSpot podcast network. Business made simple takes the mystery out of growing your business, like is a weak brand identity holding your business back? In this episode, Donald talks to Caitlyn Wells, a physical therapist and owner of Beyond Repair in Missouri. She works with athletes who've been injured, helping them get back to their sport. She and Donald have a conversation about how to ramp up her business. Essentially, how does Caitlyn brand and skill Caitlyn in such a way that she can charge double what she does now? Listen to Business Made Simple wherever you get your podcasts. As a leader, you're probably always on the lookout for ways to arm yourself with more knowledge. Maybe you read books, attend seminars, watch YouTube videos, go to conferences, even listen to podcasts. Anything that helps you make the best possible decisions for you and your customers. They say knowledge is power, and that's because when you know more, more good can grow. With HubSpot CRM platform, you can store, track, manage, and report on all the tasks and activities that make up your relationships with customers. With a bird's eye view over all your customer interactions, HubSpot empowers your decision making like never before, so you can give your business and your customers all the good you've got. Learn how your business can grow better at hubspot.com.

DESCRIPTION

Today, if you take a chip out of a bag and think it looks like Jesus, you can either eat it, tell the person next to you, or try selling it on eBay for $10k. In this special episode, Jacob dives into the lucrative market for oddly shaped snacks and the psychology behind them.


Thank You For Listening to The Hustle Daily Show. Don’t forget to hit Subscribe or Follow us on Apple Podcasts so that you never miss an episode!