Howard Schultz

I can totally attest to this as a customer. I basically only use Tap to pay with my watch or phone everywhere I go now, which, you know, just felt like sci-fi a few years ago. But unsurprisingly, that capability for merchants to accept contactless payments is now also being powered by JP Morgan Payments.

I can totally attest to this as a customer. I basically only use Tap to pay with my watch or phone everywhere I go now, which, you know, just felt like sci-fi a few years ago. But unsurprisingly, that capability for merchants to accept contactless payments is now also being powered by JP Morgan Payments.

the very best of both worlds.

the very best of both worlds.

So David Howard sent me, there's a 1988, I can't believe this was filmed, but a 1988 shareholder and employee meeting where it's great. The whole thing's like an hour and a half long. It's all there. And you are using all the same language that you used today back in 1988. We focus on our people. Those people delight the customer. The customer delights the shareholder or satisfies the shareholder.

So David Howard sent me, there's a 1988, I can't believe this was filmed, but a 1988 shareholder and employee meeting where it's great. The whole thing's like an hour and a half long. It's all there. And you are using all the same language that you used today back in 1988. We focus on our people. Those people delight the customer. The customer delights the shareholder or satisfies the shareholder.

And the conviction that you have, it's like watching a preacher. You're up there. You've got, I think, 11 stores or something. And you're like, you have no idea what we have here. We are on top of something that is going to change. And you don't say the world, America. And this thing can become America's coffee house.

And the conviction that you have, it's like watching a preacher. You're up there. You've got, I think, 11 stores or something. And you're like, you have no idea what we have here. We are on top of something that is going to change. And you don't say the world, America. And this thing can become America's coffee house.

And it was interesting because I think the whole room was already scared of your ambition of going nationwide with this thing that there did not exist another example of a national coffee house chain. Everything was just these little cities, these small markets.

And it was interesting because I think the whole room was already scared of your ambition of going nationwide with this thing that there did not exist another example of a national coffee house chain. Everything was just these little cities, these small markets.

And there's this great quote that you have at the end of the meeting that says, the company since 1971 has been growing at a very, very slow pace. As a result of that, you combine Il Giornale and Starbucks together. We're going to take your six stores that you've built in 17 years, and we're going to go to 26 in one year, and we're going to go to over 100 in five years.

And there's this great quote that you have at the end of the meeting that says, the company since 1971 has been growing at a very, very slow pace. As a result of that, you combine Il Giornale and Starbucks together. We're going to take your six stores that you've built in 17 years, and we're going to go to 26 in one year, and we're going to go to over 100 in five years.

And that must have just sounded bonkers. But that is literally what happened. That's what happened. The pace of growth, approximately, you just doubled stores year over year over year. Was there some moment in 88, 89, 90, where you're just looking around, realizing... We must expand as fast as we possibly can because this concept is the concept the world needs now.

And that must have just sounded bonkers. But that is literally what happened. That's what happened. The pace of growth, approximately, you just doubled stores year over year over year. Was there some moment in 88, 89, 90, where you're just looking around, realizing... We must expand as fast as we possibly can because this concept is the concept the world needs now.

And if we don't pull out all the stops, someone else is going to do it.

And if we don't pull out all the stops, someone else is going to do it.

There were regional competitors who were making noise about doing what we were aspiring to do. And I was very mindful because one of them was franchising. That was Gloria Jeans out of Chicago.

There were regional competitors who were making noise about doing what we were aspiring to do. And I was very mindful because one of them was franchising. That was Gloria Jeans out of Chicago.

And at one point, I think they had more stores than we did because of the franchising opportunity. And that's one of the reasons why I went to Chicago as well in 87, 88.

And at one point, I think they had more stores than we did because of the franchising opportunity. And that's one of the reasons why I went to Chicago as well in 87, 88.