Brian Niccol

And I think that's why Boyu is so excited to partner with us because they see the opportunity as well.

No.

And look, the way we've structured it is, obviously, the partnerships are in the cases where we have full license scenario.

We don't end up deploying our capital into the markets.

We support the licensee in a different fashion through marketing and menu and technology and design.

So it just becomes less of a...

a requirement on our capital.

But it's still, in most cases, you see the margin actually rise and becomes margin accretive to the total business.

And the thing that's really exciting is there's so much opportunity for growth.

And when you have these local partners in these international markets, we just end up, I think, getting access to the premier real estate and at a speed that we couldn't do from our Seattle offices.

The thing that's great about Starbucks is the brand is beloved.

It's iconic.

And when you go around the world, there's no doubt that people want to engage with the Starbucks brand.

As I was looking at the U.S., I think we just moved too far away from what made Starbucks Starbucks.

And I think you were at our investor day yesterday, and I think Mike said it really well, which is we don't need to change who we are.

We just need to be great at who we are and what we do.

And that's what we're getting back to doing intentionally, right?

So it's like, we're going to be intentional about that barista to customer interaction, the customer experience you get.

We're going to be intentional about making sure you have a great seat.

We're going to be intentional with the menu, the marketing, the digital experiences that we provide.