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Published · transcript-backed

Howard Schultz: uncertainty

4 Jun 2024 Acquired Starbucks (with Howard Schultz)

“Jeff and Jim took me to a parking lot in Kirkland when I said, I don’t know if we can do this.”

— Howard Schultz

Source trail

Everything needed to verify it.

Speaker
Howard Schultz
Attribution
Verified speaker
Claim type
uncertainty
Recorded
4 Jun 2024
Publisher
Acquired

Transcript context

…No way. Yeah, in that 1987 round. That’s when I met Jeff for the first time. Jeff became a board member of the early imprinting of Starbucks and clearly a mentor of mine. Then he introduced me to Jim Sinegal. There were many moments of me sitting with Jeff and Jim, including the huge decision to put Starbucks coffee in Costco, which there was a revolt inside the halls of Starbucks saying no effing way. And we did it. Jeff and Jim took me to a parking lot in Kirkland when I said, I don’t know if we can do this. I don’t know if I can sell it inside. I don’t know. Okay. Meet us on a Sunday morning, whatever it was. Look at the cars. These are your customers. In fact, putting Starbucks in Costco, we were able to measure directly the increase in volume in the stores on the east side as a result of the proximity to the Costco store. You sold beans in Costco.…

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