Jack

It's extra, extra.

So why does Chipotle think that raising prices in this economy is an okay thing to do?

Well, this is what Jack and I found fascinating, Yetis.

Chipotle has a favorite customer, and that customer is making 100K.

That customer is the Goldman analyst who has a Hamptons week timeshare.

And that customer is the millennial Millie with the Sapphire Reserve card next to the Amex Platinum card.

It's the dink kicking it in Cabo this weekend.

That's who Chipotle knows is crushing burrito balls three days a week.

And so it is at this point Jack and I should sprinkle on the context about the K-shaped economy.

You've heard it before.

The wealthier are doing better.

They're the upper leg.

The low-income people are doing worse.

They're the lower egg.

The middle is getting squeezed, so Chipotle is picking sides.

They're choosing people making 100 grand or more.

In fact, in Chipotle's earnings, they revealed that 60% of their customers are high-income households making over 100,000 bucks a year.

They mentioned $100,000 five times on their earnings call.

We counted it.

They said it five times.