Latest / Omni Talk Retail / PepsiCo Goes Natural: Is This The End of Artificial Colors in Food?

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PepsiCo Goes Natural: Is This The End of Artificial Colors in Food? · Omni Talk Retail

• 0:00
  PepsiCo
• 0:00
  CEO
• 0:01
  says
• 0:01
  that
• 0:01
  it
• 0:01
  is,
• 0:01
  quote,
• 0:02
  accelerating
• 0:03
  its
• 0:03
  transition
• 0:04
  to
• 0:04
  natural
• 0:04
  ingredients,
• 0:05
  according
• 0:06
  to
• 0:06
  Food
• 0:06
  Dive.
• 0:07
  PepsiCo
• 0:07
  CEO
• 0:08
  said
• 0:08
  during
• 0:08
  PepsiCo's
• 0:09
  first
• 0:09
  quarter
• 0:10
  earnings
• 0:10
  call
• 0:10
  with
• 0:10
  analysts
• 0:11
  on
• 0:11
  Thursday
• 0:12
  that
• 0:12
  the
• 0:12
  Cheetos
• 0:13
  and
• 0:13
  Doritos
• 0:14
  maker
• 0:14
  My
• 0:15
  Favorite
• 0:15
  and
• 0:15
  Doritos
• 0:16
  plans
• 0:17
  to
• 0:17
  have
• 0:17
  transitioned,
• 0:18
  quote,
• 0:18
  all
• 0:18
  the
• 0:19
  portfolio
• 0:19
  into
• 0:20
  natural
• 0:20
  colors
• 0:20
  or
• 0:21
  at
• 0:21
  least
• 0:21
  provide
• 0:21
  the
• 0:22
  consumer
• 0:22
  with
• 0:23
  natural
• 0:23
  color
• 0:23
  options
• 0:24
  end
• 0:25
  quote
• 0:25
  in
• 0:25
  the
• 0:25
  next,
• 0:25
  quote,
• 0:26
  cold
• 0:26
  couple
• 0:27
  years,
• 0:27
  end
• 0:27
  quote.
• 0:28
  The
• 0:28
  comments
• 0:29
  came
• 0:29
  two
• 0:29
  days
• 0:29
  after
• 0:30
  Health
• 0:30
  and
• 0:30
  Human
• 0:31
  Services
• 0:32
  Secretary
• 0:32
  Robert
• 0:33
  F.
• 0:33
  Kennedy
• 0:33
  Jr.
• 0:34
  Announced
• 0:34
  the
• 0:35
  Department
• 0:35
  wants
• 0:35
  food
• 0:35
  companies
• 0:36
  to
• 0:36
  voluntarily
• 0:37
  remove
• 0:37
  or
• 0:37
  replace
• 0:38
  commonly
• 0:39
  used
• 0:39
  synthetic
• 0:39
  colors
• 0:40
  before
• 0:40
  the
• 0:41
  end
• 0:41
  of
• 0:41
  2026.
• 0:42
  However,
• 0:43
  replacing
• 0:44
  synthetic
• 0:44
  colors
• 0:45
  with
• 0:45
  natural
• 0:45
  ones
• 0:46
  and
• 0:46
  and
• 0:47
  friends
• 0:47
  is
• 0:47
  not
• 0:47
  easy.
• 0:48
  It
• 0:48
  can
• 0:48
  be
• 0:48
  hard
• 0:49
  to
• 0:49
  find
• 0:49
  a
• 0:49
  suitable
• 0:50
  replacement
• 0:50
  and
• 0:51
  consumers
• 0:52
  sometimes
• 0:52
  don't
• 0:52
  like
• 0:53
  the
• 0:53
  new
• 0:53
  color.
• 0:53
  Don't
• 0:54
  take
• 0:54
  my
• 0:54
  Doritos.
• 0:54
  PepsiCo
• 0:55
  case
• 0:56
  in
• 0:56
  point
• 0:56
  in
• 0:56
  20
• 0:57
  in
• 0:59
  General
• 0:59
  Mills
• 1:00
  changed
• 1:00
  several
• 1:01
  cereals,
• 1:01
  including
• 1:02
  Trix,
• 1:03
  as
• 1:03
  part
• 1:03
  of
• 1:03
  its
• 1:03
  pledge
• 1:04
  to
• 1:04
  remove
• 1:04
  artificial
• 1:05
  colors
• 1:05
  and
• 1:05
  flavors.
• 1:06
  I
• 1:06
  just
• 1:06
  started
• 1:07
  thinking
• 1:07
  about
• 1:07
  the
• 1:07
  Liam
• 1:07
  Neeson
• 1:08
  when
• 1:08
  he
• 1:08
  wants
• 1:08
  to
• 1:08
  buy
• 1:08
  tricks
• 1:09
  in
• 1:10
  one
• 1:10
  of
• 1:10
  the
• 1:10
  tech
• 1:10
  movies.
• 1:11
  Fine
• 1:11
  consumer
• 1:12
  complaints
• 1:12
  and
• 1:12
  a
• 1:13
  decline
• 1:13
  in
• 1:13
  sales.
• 1:13
  General
• 1:14
  Mills
• 1:14
  brought
• 1:15
  back
• 1:15
  tricks
• 1:15
  with
• 1:16
  artificial
• 1:16
  colors
• 1:17
  a
• 1:17
  year
• 1:18
  later.
• 1:18
  I
• 1:18
  guess
• 1:18
  tricks
• 1:19
  just
• 1:19
  aren't
• 1:19
  for
• 1:19
  kids.
• 1:20
  Louise
• 1:20
  how
• 1:21
  should
• 1:21
  food
• 1:21
  companies
• 1:22
  be
• 1:22
  preparing
• 1:23
  to
• 1:23
  voluntarily
• 1:23
  remove
• 1:24
  or
• 1:24
  replace
• 1:24
  artificial
• 1:25
  colors
• 1:25
  before
• 1:26
  2027?
• 1:27
  Is
• 1:27
  this
• 1:27
  timeline
• 1:28
  also
• 1:28
  even
• 1:29
  realistic?
• 1:29
  This
• 1:29
  feels
• 1:29
  like
• 1:30
  it'
• 1:30
  your
• 1:30
  wheelhouse.
• 1:32
  I
• 1:32
  love
• 1:32
  the
• 1:32
  the
• 1:33
  voluntarily.
• 1:35
  I
• 1:35
  mean
• 1:36
  maybe
• 1:36
  it's
• 1:36
  an
• 1:36
  American
• 1:37
  thing
• 1:37
  and
• 1:37
  companies
• 1:38
  love
• 1:38
  to
• 1:38
  voluntarily
• 1:39
  comply
• 1:39
  with
• 1:39
  with
• 1:40
  new
• 1:40
  regulation.
• 1:40
  But,
• 1:43
  but
• 1:43
  that's,
• 1:44
  that's
• 1:44
  going
• 1:44
  to
• 1:44
  be
• 1:44
  a
• 1:44
  big
• 1:45
  question
• 1:45
  because
• 1:45
  as
• 1:45
  you
• 1:45
  said,
• 1:46
  it's,
• 1:46
  it's
• 1:46
  not
• 1:47
  easy
• 1:48
  to
• 1:48
  do.
• 1:50
  So
• 1:50
  as
• 1:50
  long
• 1:50
  as
• 1:50
  it's
• 1:51
  voluntary,
• 1:51
  I'm
• 1:52
  not
• 1:52
  sure
• 1:52
  you'll
• 1:52
  see
• 1:52
  a
• 1:53
  lot
• 1:53
  of
• 1:53
  people
• 1:54
  raise
• 1:54
  their
• 1:54
  hands
• 1:54
  and
• 1:54
  do
• 1:55
  it
• 1:55
  first.
• 1:55
  But
• 1:56
  you
• 1:57
  mentioned,
• 1:57
  and
• 1:57
  rightfully
• 1:58
  so,
• 1:59
  that
• 1:59
  you
• 2:00
  know,
• 2:00
  the
• 2:00
  colors
• 2:00
  aren't
• 2:00
  going
• 2:00
  to
• 2:01
  be
• 2:01
  the
• 2:01
  same,
• 2:01
  the
• 2:02
  brightness
• 2:02
  isn't
• 2:02
  going
• 2:03
  to
• 2:03
  be
• 2:03
  the
• 2:03
  same
• 2:04
  and
• 2:04
  you
• 2:04
  need
• 2:04
  to
• 2:04
  educate
• 2:05
  the
• 2:05
  consumer.
• 2:06
  That's
• 2:06
  going
• 2:06
  to
• 2:06
  be
• 2:06
  a
• 2:06
  big
• 2:06
  change.
• 2:08
  And
• 2:09
  if
• 2:09
  you
• 2:09
  look
• 2:09
  at
• 2:10
  shelves
• 2:10
  in
• 2:11
  France
• 2:12
  where
• 2:12
  I'm
• 2:12
  from
• 2:12
  versus
• 2:13
  shelves
• 2:13
  in
• 2:13
  the
• 2:14
  US
• 2:15
  it's
• 2:16
  actually
• 2:16
  pretty
• 2:16
  different.
• 2:17
  The
• 2:17
  colors
• 2:17
  are
• 2:17
  just
• 2:18
  less
• 2:18
  vibrant
• 2:19
  in
• 2:19
  France
• 2:19
  because
• 2:20
  all
• 2:20
  of
• 2:20
  those
• 2:21
  artificial
• 2:21
  colorings
• 2:22
  are
• 2:23
  most
• 2:23
  of
• 2:23
  them
• 2:23
  are
• 2:23
  banned
• 2:24
  already.
• 2:25
  So
• 2:26
  how
• 2:26
  quickly
• 2:26
  will
• 2:26
  the
• 2:27
  US
• 2:27
  Consumer
• 2:28
  adapt
• 2:29
  to
• 2:29
  to
• 2:29
  the
• 2:29
  new
• 2:30
  offering?
• 2:31
  That's
• 2:31
  a
• 2:31
  question
• 2:31
  mark
• 2:33
  from
• 2:33
  the
• 2:33
  R
• 2:33
  D
• 2:34
  perspective.
• 2:35
  You
• 2:35
  know,
• 2:35
  how
• 2:35
  do
• 2:35
  you
• 2:36
  actually
• 2:36
  replace,
• 2:37
  reformulate,
• 2:38
  validate
• 2:40
  your
• 2:41
  your
• 2:41
  new
• 2:41
  formulas
• 2:42
  with
• 2:42
  with
• 2:43
  natural
• 2:44
  colorings?
• 2:45
  That's
• 2:45
  going
• 2:46
  to
• 2:46
  be
• 2:46
  quite
• 2:46
  tricky.
• 2:47
  And
• 2:47
  the
• 2:48
  timeline
• 2:48
  doesn't
• 2:48
  seem,
• 2:49
  you
• 2:49
  know,
• 2:49
  2026,
• 2:50
  end
• 2:50
  of
• 2:50
  2026
• 2:51
  we're
• 2:52
  already
• 2:52
  in
• 2:52
  2026
• 2:54
  when
• 2:54
  you're,
• 2:54
  you're
• 2:54
  thinking
• 2:55
  cor
• 2:56
  now
• 2:56
  from
• 2:57
  a
• 2:57
  planning
• 2:57
  standpoint.
• 2:58
  So
• 2:58
  that
• 2:59
  seems
• 2:59
  extremely
• 2:59
  short
• 3:00
  from
• 3:00
  an
• 3:00
  R
• 3:00
  and
• 3:00
  D
• 3:00
  standpoint.
• 3:01
  And
• 3:01
  finally,
• 3:02
  third
• 3:03
  is
• 3:04
  how
• 3:04
  do
• 3:04
  you
• 3:04
  get
• 3:04
  the
• 3:05
  relevant
• 3:05
  supply
• 3:05
  base?
• 3:06
  So
• 3:06
  a
• 3:06
  lot
• 3:06
  of,
• 3:06
  a
• 3:06
  lot
• 3:06
  of
• 3:07
  your
• 3:07
  suppliers
• 3:07
  who
• 3:08
  work
• 3:08
  in
• 3:08
  Europe,
• 3:09
  they
• 3:09
  already
• 3:10
  have
• 3:11
  a
• 3:11
  supply
• 3:12
  chain
• 3:12
  that
• 3:12
  can
• 3:13
  have
• 3:13
  your
• 3:13
  natural
• 3:14
  coloring,
• 3:15
  but
• 3:16
  you
• 3:16
  need
• 3:16
  to
• 3:16
  bring
• 3:16
  it
• 3:16
  to
• 3:16
  the
• 3:17
  US
• 3:17
  the
• 3:17
  volumes
• 3:17
  are
• 3:18
  going
• 3:18
  to
• 3:18
  change,
• 3:18
  so
• 3:19
  it
• 3:19
  puts
• 3:19
  pressure.
• 3:20
  The
• 3:20
  prices
• 3:21
  are
• 3:21
  going
• 3:21
  to
• 3:21
  change.
• 3:22
  So
• 3:22
  are
• 3:22
  the
• 3:23
  consumers
• 3:23
  going
• 3:23
  to
• 3:23
  want
• 3:23
  to
• 3:24
  buy
• 3:25
  for
• 3:25
  more
• 3:25
  expensive,
• 3:26
  something
• 3:26
  that
• 3:27
  looks
• 3:27
  less
• 3:27
  good
• 3:28
  from
• 3:28
  the
• 3:28
  American
• 3:28
  standards?
• 3:30
  Going
• 3:30
  to
• 3:30
  be
• 3:30
  a
• 3:30
  big
• 3:30
  question
• 3:31
  mark
• 3:31
  as
• 3:31
  well.
• 3:31
  So
• 3:33
  we'll
• 3:33
  see
• 3:33
  how
• 3:33
  it
• 3:33
  plays
• 3:34
  out.
• 3:34
  If
• 3:34
  it's
• 3:34
  voluntary,
• 3:35
  not
• 3:35
  sure
• 3:35
  that
• 3:36
  will
• 3:36
  work.
• 3:36
  If
• 3:37
  it's
• 3:37
  forced
• 3:38
  by,
• 3:38
  by
• 3:38
  the
• 3:39
  regulator,
• 3:40
  you
• 3:40
  don't
• 3:40
  really
• 3:40
  have
• 3:40
  a
• 3:41
  choice.
• 3:41
  So
• 3:43
  that
• 3:43
  might
• 3:43
  make
• 3:44
  things
• 3:44
  work
• 3:45
  faster.
• 3:46
  Yeah,
• 3:46
  it's
• 3:47
  a
• 3:47
  question
• 3:47
  of
• 3:47
  how
• 3:47
  long
• 3:47
  you
• 3:47
  can
• 3:48
  breathe
• 3:48
  for,
• 3:48
  you
• 3:48
  know,
• 3:48
  how
• 3:49
  much
• 3:49
  time
• 3:49
  they
• 3:49
  give
• 3:49
  you
• 3:49
  to
• 3:49
  breathe.
• 3:49
  But
• 3:50
  eventually,
• 3:50
  eventually
• 3:50
  you
• 3:51
  have
• 3:51
  to
• 3:51
  think
• 3:51
  that
• 3:51
  some
• 3:51
  type
• 3:51
  of
• 3:52
  regulation
• 3:52
  is
• 3:52
  coming
• 3:53
  in
• 3:53
  this
• 3:53
  vein,
• 3:53
  which
• 3:54
  is,
• 3:54
  you
• 3:54
  know,
• 3:54
  for
• 3:54
  me,
• 3:54
  I
• 3:54
  think
• 3:54
  about
• 3:55
  it,
• 3:55
  I
• 3:55
  step
• 3:55
  back
• 3:55
  and
• 3:55
  I
• 3:55
  say,
• 3:55
  okay,
• 3:56
  there's
• 3:56
  a
• 3:56
  problem
• 3:57
  side
• 3:57
  and
• 3:57
  then
• 3:57
  with
• 3:57
  every
• 3:57
  problem,
• 3:58
  there's
• 3:58
  an
• 3:58
  opportunity
• 3:58
  on
• 3:58
  the
• 3:59
  problem
• 3:59
  side
• 3:59
  is
• 3:59
  you
• 4:00
  got
• 4:00
  to
• 4:00
  get
• 4:00
  ready
• 4:00
  for
• 4:00
  the
• 4:00
  regulation.
• 4:01
  So
• 4:01
  you
• 4:01
  have
• 4:01
  to
• 4:01
  start
• 4:01
  trying
• 4:02
  to
• 4:02
  do
• 4:02
  this.
• 4:02
  Like
• 4:02
  the
• 4:02
  point
• 4:03
  I
• 4:03
  made
• 4:03
  in
• 4:03
  the
• 4:03
  last
• 4:03
  headline
• 4:04
  too.
• 4:04
  You
• 4:04
  got
• 4:04
  to
• 4:05
  put
• 4:05
  your
• 4:05
  product
• 4:05
  roadmap
• 4:06
  out.
• 4:06
  You
• 4:06
  got
• 4:06
  to
• 4:06
  lay
• 4:06
  it
• 4:07
  out
• 4:07
  in
• 4:07
  front
• 4:07
  of
• 4:07
  you
• 4:07
  and
• 4:07
  you
• 4:07
  got
• 4:07
  to
• 4:08
  put
• 4:08
  a
• 4:08
  plan
• 4:08
  in
• 4:08
  place
• 4:08
  product
• 4:09
  by
• 4:09
  product
• 4:09
  and
• 4:09
  see
• 4:09
  what
• 4:09
  you
• 4:10
  can
• 4:10
  do
• 4:10
  on
• 4:10
  the
• 4:10
  timeline.
• 4:10
  Right.
• 4:11
  But
• 4:11
  it's
• 4:11
  not
• 4:12
  the
• 4:12
  time
• 4:12
  to
• 4:12
  breathe
• 4:12
  easy.
• 4:12
  We
• 4:13
  heard
• 4:13
  the
• 4:13
  same
• 4:13
  thing
• 4:13
  with
• 4:13
  regards
• 4:14
  to
• 4:14
  Fisma
• 4:14
  from
• 4:14
  Angela
• 4:15
  Fernandez
• 4:15
  of
• 4:16
  GS1US
• 4:17
  earlier
• 4:17
  this
• 4:17
  weekend.
• 4:18
  Remember
• 4:18
  that
• 4:18
  where
• 4:18
  she
• 4:19
  said
• 4:19
  in
• 4:19
  relation
• 4:20
  to
• 4:20
  that
• 4:20
  timeline,
• 4:21
  moving
• 4:21
  out,
• 4:21
  that
• 4:21
  regulation,
• 4:22
  moving
• 4:22
  out,
• 4:22
  you
• 4:22
  still
• 4:22
  have
• 4:22
  to
• 4:23
  do
• 4:23
  the
• 4:23
  work
• 4:23
  and
• 4:23
  get
• 4:23
  it
• 4:24
  done.
• 4:24
  It's
• 4:24
  not
• 4:24
  a
• 4:24
  time
• 4:24
  to
• 4:25
  relax.
• 4:25
  But
• 4:25
  the
• 4:26
  opportunity
• 4:26
  side
• 4:27
  to
• 4:27
  Luis,
• 4:27
  I'm
• 4:27
  curious
• 4:28
  about
• 4:28
  this
• 4:28
  is
• 4:29
  with
• 4:29
  all.
• 4:30
  With
• 4:30
  this
• 4:30
  trend
• 4:30
  happening,
• 4:31
  I
• 4:31
  think
• 4:32
  from
• 4:32
  a
• 4:32
  product
• 4:32
  development
• 4:33
  side,
• 4:33
  it
• 4:34
  tells
• 4:34
  the
• 4:34
  CPG
• 4:35
  companies
• 4:35
  that
• 4:35
  they
• 4:36
  need
• 4:36
  to
• 4:36
  lever
• 4:36
  up
• 4:36
  on
• 4:37
  the
• 4:37
  idea
• 4:37
  of
• 4:38
  food
• 4:38
  is
• 4:38
  medicine,
• 4:39
  continue
• 4:40
  to
• 4:40
  develop
• 4:40
  products
• 4:41
  in
• 4:41
  that
• 4:41
  vein,
• 4:41
  to
• 4:42
  take
• 4:42
  advantage
• 4:42
  of
• 4:42
  where
• 4:43
  the
• 4:43
  trend
• 4:43
  is
• 4:43
  going
• 4:44
  overall.
• 4:44
  From
• 4:44
  a
• 4:44
  consumer
• 4:45
  perspective,
• 4:45
  how
• 4:45
  do
• 4:45
  you
• 4:46
  think
• 4:46
  about
• 4:46
  the
• 4:46
  new
• 4:46
  product
• 4:47
  development
• 4:47
  in
• 4:47
  relation
• 4:48
  to
• 4:48
  this
• 4:48
  headline?
• 4:49
  Yeah,
• 4:50
  for
• 4:50
  sure.
• 4:51
  Having
• 4:52
  healthier
• 4:52
  food
• 4:53
  and
• 4:53
  communicating
• 4:54
  on
• 4:54
  it
• 4:54
  and
• 4:56
  finding
• 4:56
  new
• 4:57
  consumer
• 4:57
  pockets
• 4:58
  who
• 4:59
  are
• 4:59
  inclined
• 5:00
  to
• 5:00
  pay
• 5:00
  more
• 5:01
  for
• 5:01
  healthier
• 5:02
  and
• 5:02
  better
• 5:03
  products.
• 5:03
  Yes,
• 5:05
  but
• 5:05
  in
• 5:05
  the
• 5:05
  current
• 5:06
  environment,
• 5:06
  with
• 5:06
  high
• 5:06
  inflationary,
• 5:07
  inflationary
• 5:08
  pressures,
• 5:10
  you're
• 5:10
  actually
• 5:10
  going
• 5:11
  the
• 5:11
  Opposite
• 5:11
  direction,
• 5:12
  where
• 5:12
  a
• 5:12
  lot
• 5:12
  of
• 5:12
  consumers
• 5:12
  are
• 5:13
  foregoing
• 5:14
  more
• 5:14
  sustainable
• 5:15
  and
• 5:15
  healthier
• 5:16
  products
• 5:16
  for
• 5:17
  cheaper
• 5:18
  products,
• 5:19
  which
• 5:19
  often
• 5:20
  focus
• 5:21
  less
• 5:21
  on
• 5:21
  health
• 5:22
  or
• 5:22
  sustainable
• 5:24
  aspects.
• 5:25
  So
• 5:26
  it's
• 5:26
  a
• 5:26
  little
• 5:27
  bit
• 5:27
  of
• 5:27
  a
• 5:27
  tricky
• 5:28
  place
• 5:30
  for
• 5:31
  smaller
• 5:31
  CPGs
• 5:32
  that
• 5:32
  are
• 5:33
  already
• 5:33
  focused
• 5:33
  on
• 5:33
  the
• 5:34
  premium
• 5:34
  market.
• 5:35
  Yeah,
• 5:36
  they're
• 5:36
  there.
• 5:36
  They
• 5:37
  can
• 5:37
  have
• 5:37
  natural
• 5:38
  coloring,
• 5:39
  more
• 5:40
  sustainable
• 5:40
  products
• 5:42
  for
• 5:42
  the
• 5:42
  more
• 5:42
  mass
• 5:43
  market.
• 5:44
  The
• 5:45
  winners
• 5:45
  are
• 5:46
  going
• 5:46
  to
• 5:46
  be
• 5:46
  the
• 5:46
  ones
• 5:46
  that
• 5:46
  are
• 5:47
  able
• 5:47
  to
• 5:47
  comply
• 5:47
  with
• 5:48
  regulation
• 5:50
  with
• 5:50
  the
• 5:50
  best
• 5:50
  price,
• 5:51
  which
• 5:51
  means
• 5:51
  they'll
• 5:52
  have
• 5:52
  done
• 5:52
  a
• 5:52
  lot
• 5:52
  of
• 5:52
  work
• 5:52
  on
• 5:53
  their
• 5:53
  supply
• 5:53
  chain
• 5:54
  and
• 5:55
  negotiated
• 5:55
  the
• 5:55
  best
• 5:56
  deals
• 5:56
  and
• 5:56
  found
• 5:57
  the
• 5:57
  best
• 5:58
  suppliers.
• 5:59
  So,
• 6:00
  yeah,
• 6:00
  you're
• 6:00
  right.
• 6:00
  There's
• 6:00
  a
• 6:01
  lot
• 6:01
  of
• 6:01
  conflicting
• 6:01
  forces
• 6:02
  at
• 6:02
  play
• 6:02
  here.
• 6:02
  And
• 6:03
  what's
• 6:03
  your
• 6:03
  take
• 6:03
  here?
• 6:04
  What's
• 6:04
  coming
• 6:04
  to
• 6:04
  mind
• 6:04
  for
• 6:04
  you?
• 6:05
  I
• 6:05
  am
• 6:06
  just.
• 6:06
  This
• 6:06
  is
• 6:06
  one
• 6:06
  of
• 6:07
  those
• 6:07
  times
• 6:07
  where
• 6:07
  you're
• 6:08
  like,
• 6:08
  oh
• 6:08
  my
• 6:08
  God,
• 6:09
  Americans
• 6:09
  were
• 6:10
  so
• 6:10
  embarrassing
• 6:10
  that
• 6:11
  we
• 6:11
  have
• 6:11
  to.
• 6:11
  We,
• 6:12
  the
• 6:12
  General
• 6:12
  Mills
• 6:13
  went
• 6:13
  back
• 6:13
  to
• 6:13
  artificially
• 6:14
  flavored
• 6:15
  tricks
• 6:15
  like
• 6:16
  we.
• 6:16
  So
• 6:16
  to,
• 6:17
  in
• 6:17
  my
• 6:17
  mind,
• 6:17
  it's
• 6:17
  like,
• 6:18
  unless
• 6:18
  there
• 6:18
  is
• 6:19
  a
• 6:19
  regulation,
• 6:20
  nothing's
• 6:21
  going
• 6:21
  to
• 6:21
  change.
• 6:21
  Like,
• 6:22
  we
• 6:22
  need
• 6:22
  the
• 6:22
  regulation,
• 6:23
  I
• 6:23
  think,
• 6:23
  to
• 6:24
  shift
• 6:24
  American
• 6:25
  consumer
• 6:26
  understanding
• 6:27
  of
• 6:27
  like
• 6:28
  getting
• 6:28
  those
• 6:28
  good
• 6:29
  quality
• 6:30
  ingredients
• 6:30
  versus
• 6:31
  artificial
• 6:31
  ingredients
• 6:32
  in
• 6:32
  our
• 6:32
  food.
• 6:32
  Otherwise
• 6:33
  this
• 6:33
  is
• 6:33
  never
• 6:33
  going
• 6:34
  to
• 6:34
  happen.
• 6:34
  Like,
• 6:35
  I
• 6:35
  had
• 6:35
  a
• 6:35
  friend
• 6:35
  who
• 6:36
  used
• 6:36
  to
• 6:36
  work
• 6:36
  for
• 6:36
  Kraft.
• 6:37
  She
• 6:37
  was
• 6:37
  a
• 6:37
  food
• 6:37
  scientist
• 6:38
  for
• 6:38
  Kraft
• 6:38
  and
• 6:38
  her
• 6:39
  job
• 6:39
  for
• 6:40
  three
• 6:40
  years
• 6:40
  was
• 6:41
  just
• 6:41
  trying
• 6:41
  to
• 6:41
  figure
• 6:41
  out
• 6:42
  how
• 6:42
  to
• 6:42
  make
• 6:42
  Kraft
• 6:43
  macaroni
• 6:43
  and
• 6:43
  cheese
• 6:44
  that
• 6:44
  wasn't
• 6:45
  bright
• 6:45
  orange
• 6:45
  and
• 6:46
  still
• 6:46
  tasted
• 6:47
  the
• 6:47
  same.
• 6:47
  And
• 6:48
  it
• 6:48
  was
• 6:48
  like
• 6:48
  the
• 6:49
  holy
• 6:49
  grail
• 6:49
  for.
• 6:50
  I
• 6:50
  mean,
• 6:50
  she,
• 6:50
  she
• 6:51
  probably
• 6:51
  is
• 6:51
  still
• 6:51
  working
• 6:52
  on
• 6:52
  it
• 6:52
  to
• 6:52
  this
• 6:52
  day.
• 6:53
  And
• 6:53
  I
• 6:53
  think,
• 6:54
  again,
• 6:54
  like,
• 6:55
  until
• 6:55
  this
• 6:55
  becomes
• 6:56
  something
• 6:56
  that
• 6:56
  we
• 6:56
  have
• 6:57
  to
• 6:57
  do
• 6:57
  and
• 6:57
  American
• 6:58
  consumers
• 6:58
  understand
• 6:59
  is
• 6:59
  like,
• 7:00
  this
• 7:00
  is
• 7:00
  where
• 7:01
  products
• 7:01
  are
• 7:01
  going.
• 7:01
  We're
• 7:01
  going
• 7:02
  the
• 7:02
  way
• 7:02
  of
• 7:02
  Europe
• 7:03
  where
• 7:03
  we
• 7:03
  just
• 7:03
  don't
• 7:03
  have
• 7:03
  artificial
• 7:04
  flavorings
• 7:05
  and
• 7:05
  colors
• 7:05
  in
• 7:06
  our
• 7:06
  food
• 7:06
  anymore.
• 7:06
  Like,
• 7:07
  it's
• 7:07
  never
• 7:07
  going
• 7:08
  to
• 7:08
  work
• 7:08
  because
• 7:08
  we're
• 7:09
  just
• 7:09
  so
• 7:09
  accustomed.
• 7:10
  Europe
• 7:10
  and
• 7:11
  Canada
• 7:11
  and
• 7:12
  yeah,
• 7:12
  by
• 7:12
  the.
• 7:13
  Way,
• 7:13
  almost
• 7:13
  every
• 7:14
  other
• 7:14
  nation
• 7:14
  except
• 7:15
  for
• 7:15
  the
• 7:15
  U.S.
• 7:15
  right.
• 7:16
  Like,
• 7:16
  yeah,
• 7:17
  lots
• 7:17
  of
• 7:17
  people
• 7:17
  are
• 7:17
  seeing
• 7:17
  the
• 7:18
  light
• 7:18
  here.
• 7:18
  And
• 7:19
  I
• 7:19
  think
• 7:19
  it's
• 7:19
  going
• 7:19
  to
• 7:19
  take
• 7:20
  that
• 7:20
  regulation
• 7:21
  before
• 7:21
  the
• 7:21
  American
• 7:22
  consumer
• 7:22
  gets
• 7:22
  on
• 7:22
  board.
• 7:23
  Shout
• 7:24
  out
• 7:24
  to
• 7:24
  all
• 7:24
  our
• 7:24
  Canadian
• 7:25
  listeners
• 7:25
  up
• 7:25
  north.
• 7:25
  Yeah.
• 7:26
  And
• 7:26
  to
• 7:26
  Lisa's
• 7:26
  point
• 7:27
  and
• 7:27
  too,
• 7:27
  you
• 7:27
  got
• 7:27
  to
• 7:28
  get.
• 7:28
  And
• 7:28
  what
• 7:29
  can
• 7:29
  Americans
• 7:29
  afford
• 7:29
  to
• 7:30
  that
• 7:30
  99
• 7:31
  cent
• 7:31
  box
• 7:31
  of
• 7:31
  Kraft
• 7:32
  Mac
• 7:32
  macaroni
• 7:33
  and
• 7:33
  cheese
• 7:33
  is
• 7:34
  pretty
• 7:34
  attractive
• 7:35
  to
• 7:35
  a
• 7:35
  lot
• 7:35
  of
• 7:35
  consumers.
• 7:36
  Jeff,
• 7:36
  what's
• 7:37
  the
• 7:37
  last
• 7:37
  word
• 7:37
  here?
• 7:40
  Last
• 7:40
  word.
• 7:41
  I
• 7:42
  agree
• 7:42
  that
• 7:42
  it's
• 7:42
  coming
• 7:43
  and
• 7:43
  it
• 7:43
  will
• 7:44
  happen,
• 7:44
  but
• 7:45
  I
• 7:45
  hope
• 7:45
  they
• 7:45
  can
• 7:46
  make
• 7:46
  my
• 7:46
  Red
• 7:46
  Vines
• 7:47
  as
• 7:47
  red
• 7:47
  as
• 7:47
  they.
• 7:47
  As
• 7:47
  red
• 7:48
  as
• 7:48
  I
• 7:48
  like
• 7:48
  them.
• 7:49
  Oh,
• 7:49
  your
• 7:49
  red
• 7:49
  Vines
• 7:50
  are
• 7:50
  in
• 7:50
  big
• 7:50
  trouble.
• 7:51
  Jeff,
• 7:51
  you
• 7:51
  and
• 7:51
  Chris,
• 7:52
  both.
• 7:52
  You
• 7:52
  guys
• 7:53
  better
• 7:53
  stock
• 7:53
  up.
• 7:54
  I
• 7:54
  had
• 7:54
  eight
• 7:54
  of
• 7:54
  them
• 7:55
  yesterday,
• 7:55
  believe
• 7:55
  it
• 7:55
  or
• 7:55
  not,
• 7:56
  Jeff.
• 7:56
  Literally,
• 7:56
  I
• 7:56
  had
• 7:56
  eight.
• 7:57
  Eight
• 7:57
  of
• 7:57
  them
• 7:58
  yesterday.
• 7:58
  I'm,
• 7:58
  like,
• 7:58
  on
• 7:58
  an
• 7:58
  eight
• 7:59
  a
• 7:59
  day
• 7:59
  binge
• 7:59
  right
• 8:00
  now.
• 8:00
  I'm
• 8:00
  so
• 8:00
  into
• 8:01
  Red
• 8:01
  Vines
• 8:01
  right
• 8:01
  now,
• 8:01
  it's
• 8:02
  crazy.
• 8:03
  Diabetes,
• 8:03
  here
• 8:04
  we
• 8:04
  come.