Michael Aaron Flicker

Walmart, I believe, now has two-day free shipping.

So finally, they've gotten to the spot where they're matching the service.

But there is something about being a first mover in a category that gives you authenticity in a way replicating other success sometimes falls short.

We call what...

Amazon has really established here the sunk cost fallacy because it's not necessarily rational, meaning I spent this money for my Amazon Prime membership, but it could be less expensive at Walmart, and yet I still buy it at Amazon.

That desire to want to be consistent with my past behavior may not be rational.

It's more emotionally driven, but it is how we act.

And it's really a very interesting topic to observe how humans actually behave.

It sure is.

But let me set the stage for everybody.

it's 1986 and founder jerry morrell is walking down the maryland boardwalk with his four sons and so the four sons and jerry become the original five guys and they're walking on this boardwalk and they noticed that only one food stand has a massive line and its name was thrasher fries

Lots of food shops, lots of options, only one with this massive line.

And Jerry comes up with the insight.

I wonder if that's because they only do one thing and they do one thing really, really well.

They make French fries.

And because of that, with that insight, he starts Five Guys.

And today, they have 1,800 stores.

They do a $1.6 billion in sales.

And they still are basically a burger and fry joint.

They do no chicken.