Joe Colom, Albrecht, Professor Michael Roberto discussed on Freakonomics Radio
You know, have a record of that Michael Roberto again that was kind of the family heritage of early being pretty secretive about their business operations, and they weren't even you couldn't even find photos of them like on the internet for years. You know, I mean, they were very secretive. It's a strange combination affirm that prides itself on user-friendliness while also keeping its distance which means that a lot of what's known about. It comes from industry. Analysts and other secondary. Sources blitz start here in the very beginning. There really wasn't Joe behind trader Joe's, Joe Colom. He opened the first store in nineteen sixty seven in Pasadena, California. He went with a South Seas theme. Beechy Chaka's Hawaiian shirts calling employee's captains and crew members in one thousand nine hundred seventy nine Colom sold the chain to one of the secretive Albrecht brothers feel feel Albrecht was recluse. Perhaps it was said because he had once been kidnapped and held for ransom. For seventeen days in Germany. Albrecht died in two thousand ten but trader Joe's remains notoriously press shy. It's also privately held company. So no earnings calls with investment analysts. No public proclamations of any sort really about how it does business. And so to figure out how it works will rely on a few people who've spent a lot of time thinking about trader Joe's, including the business school. Professor Michael Roberto, we've already met correct? Also, the Columbia business school, professor Sheena anger, whose research specialty is particularly relevant here. I've been studying choice. Why do we want choice? What are the things that affect how in what we choose? And what are some things we can do to improve our choice making abilities? We'll also talk to a trader Joe's superfan. My name is Kirk disarma-. I reside in Seward Alaska Seward, by the way, does not have a trader Joe's, nor does the state of Alaska the closest store from disarming. His house is two thousand two hundred ninety five miles away by car in Bellingham, Washington is the guy who we heard earlier say this the first thing I do when I know I'm going somewhere get on internet and find where the closest trader Joe's is. And we'll hear from a spy in the house of trader Joe's former advertising executive named Mark gardener who became obsessed with the chain. And I just had this thought like, you know, what if I just went and work there? What would.