Howard Schultz
speaker
633 appearances
1 recordings
1 series
first heard Jun 2024
last heard Jun 2024
Howard Schultz’s voice in public audio — every appearance, attributed to the second.
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Appearances
Now, we created an industry that didn't exist, and they have followed us and done really good things, but we're not threatened by that.
Yes. How do you define Third Wave Coffee? Actually, Howard is probably the best person to ask. I mean, it's a very...
uh intentional independent coffee store that is small enough that they're roasting their own coffee or getting coffee from a small proprietary roaster and creating a very unique handcrafted experience that in many ways starbucks can't do in scale right right And so I tip my hat to them, but there's no coffee experience in the world that comes close to the roastery, any of them.
And do those roasteries break even, or are they this marketing showpiece that loses?
Some are making money, and some aren't. Wow. But I've never viewed it that way. It's like the billboards. You couldn't put a price on the hundreds of thousands of people that come into this roastery. and have an experience of a lifetime. And I took Mr. Arnaud to the roastery. Really? I did. In Milan? In Seattle.
He and his son, yeah. Wow. Yeah, I spent a good amount of time with him. I've taken a lot of retail CEOs and iconic business people to the roastery. I bet. Who want to see it.
Wow. Wow. What was Bernard doing in Seattle?
I don't know what he was doing in Seattle, but I spent a fair amount of time with him and his son. His son now runs Tiffany.
Wow. And his level of curiosity was very high. I remember he kept looking at the leather railing and the stitching, and I just said, he's spending a lot of time on the leather. Yeah.
I bet he was.
Maybe there's a partnership to be done.
Okay, so now the question sort of becomes, what are the set of circumstances that had to be true in order for Starbucks today to exist? And the one thing we haven't talked about, or one of the things is, how much of what Starbucks has accomplished could have happened if it wasn't an addictive substance? Yeah.
It's kind of this incredible thing that it's a legal drug that all the research anyone's ever done into caffeine is, by and large, it's neutral to helpful. And like every other drug that at some point people have enjoyed, whether it's smoking or drinking, as research comes out over time, we find out, shoot, that wasn't good for us. That's not the case for coffee.
What an amazing thing to get to build a business on this delightful thing we have to consume every day because we're addicted and it's pretty good for us.
Yeah. I'd like to believe it's not based on what you are characterizing as an addictive beverage. I'd like to believe it's the experience that has been created
around the enjoyment of the coffee and the experience that happens uh i also think and we haven't really spoke that much about it is i can't state enough over the last two decades what customization meant to the company and how customers created a personal beverage
well beyond what the menu was and i don't know any other business yeah in which the the incrementality of the price has been dictated by the consumer The base price is X, but most people are doing something in addition.
I have a very specific drink that I like. And when I go to coffee shops that are not Starbucks, I can't get it because it feels taboo to order. Like I like an iced almond milk latte with whipped cream. And when I go to most coffee houses, I'm like, I can't ask for whipped cream on top of that. But Starbucks are like, of course, that's what we do here.
Yes.
And I think the mobile app actually added velocity to customization. It powered customization. And I think the Starbucks barista deserves so much credit because they are dealing with so many different variations of beverages, some of which they're making for the first time on the fly. Hard to do.
Showing 521–540 of 633 · page 27 of 32
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