Mark Miller: belief

Transcript context

…The fast food restaurant Chipotle. Well, they just got knocked today; their stock just went down another 7 percent. They’re closing their ShopHouses, which I knew they would. They can’t do that. Chipotle had a good space. It did a lot of education. They developed Niman Ranch, for instance. The problem with every big food company, not just Chipotle, is you have 2,000 restaurants. You say you’re cooking the food, but the food comes from two plants, from a factory like Miniat that takes 200,000 pounds a day. The public transparency . . . are you actually cooking the food, or are you manufacturing it? I think every big food chain is probably going to face this gestalt of where, if you’re cooking, you can’t be a chain. I think the era of big food companies is actually over. A company like Starbucks: you would go into a town and you’d see Starbucks and it was familiar and known. Now all you have to do is, “Oh, I’m in Columbus, Ohio: coffee. Oh, this guy is doing fair trade, an interesting Guatemalan blend, oh, I’m going to go there.” That information doesn’t — You don’t need brands, right?…

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