35 Burst results for "Shake shack"
"shake shack" Discussed on Doughboys
"When you when you order it they bring they bring the whole chicken to the table that show it to you like yep here it is and i take it back covet and then bring it back to you caused and it's it's ridiculous but it is so good we. We had that the first time we went there and then every time we've been back which is only a couple of times but whenever we've been back it's been like well we gotta get that chicken because it's just out of this world is really good and feel silly because it's like you know. How many times can you really have a roast chicken. But it is just that it is just that special. It's it's it's sort of hard feels like dangerous to go off off that knowing. You've had such a transcendent experience. Then being like well i don't know what if the meatballs or whatever. This place is now serving meals at came up with maples. But you know what what if something else is good. I'm pretty risk averse. I would say especially for an expensive place like oh for sure you know if you if you know something is good. You know if it's quite expensive than you wanna make sure it's really good So that tends to make me a little more risk of us. Yeah that makes a lot of sense although libby. I do have some unfortunate news to tell you that chicken they brought you know was dork. Doris dr. i'm so sorry. I tried to save you. How about that callback. Pay three hundred ninety five dollars worth every penny. It's a thing of i mean. look it just. It's like you got break these down by the restaurants. If you're going to subways you're getting the same. I'm getting the same fucking thing every time or something like that. But then also like wendy's i'll i'll get my wendy's order but then it's the thing with taco bell. They'll get a new thing. So i'll add that onto my order or whatever. That's that's where. I thought you were headed mitch. And i totally agree with that with like if they have. If there's a new thing at a fast food place. I'm fucking trying like also speaks to your point about about how much money you're spending but yeah if there's like a new taco bell del taco thing. Oh yeah that thing's going in my mouth. I fuck it of course adding that automotive by regulars but let us know what you think. Let us know if you like to mix it up or if you like to stay with your old routine hashtag mix it up or hashtag stay with routine question..
"shake shack" Discussed on Doughboys
"Has worst vegetarian options and shake shack disagree disagree. How do you disagree that. Grilled cheese are in and out burger. I will get on my own. I think the cheeses grays place as this place has a grilled cheese and it has a mushroom burger. No they're grilled cheese burger. There grilled cheeses a grilled cheese sandwich off the kids menu. It's an inverted berbon with a slice of cheese in the middle. The in and out grilled cheese sandwiches a compose sandwich. It's a it's a meatless version of their burger. It scratches has from having a double double well. Then you're getting into a larger debate. Yes it has larger menu. Yes it has more options like. That's that's a different concept at the different approach. It's also more expensive. And i don't believe you. This is your water watergate. You fucked up. This is this is this is this is bullshit. Are you saying we have to. We have to delete this episode bury in the archives. I mean we might have to cover this up to. This is extremely stressful. I'm gonna go hide in the car or something this is. This is this. This is just this is bullshit. Say i wanna before any members of spoon nation. Mail me a box of bees. I i will say that. I think the fries had been better. I would gone higher but to me. If you're bugged joint you have to have good. Good fries and good soda. And i didn't get a soda this time. Whatever i'm sure they've coke is fine whatever but to me. The american meal quintessentially american meal to create us. When i want burger burger fries and a coke and if one of those things is not great. I it's it's going to be disappointing and the fries. Were really disappointing. I didn't even want to eat them. I love french fries. You know. I'll eat some bad french fries you know and these were just went good and the the never that good And you know. I when we went back to in in california not to keep bringing this up. It's unfair when we went back to in and out in california are expecting. I told emma georgia's ring. I'm sorry here. Here's it's it's the ghost of nixon come to yell at him. That impression was so bad. Someone's delivering an envelope full of bees. Oh no sent one. But i didn't want it to arrive in the episode would arrive off to the episode. Inopportune timing finish your point libby. Yeah sorry I've forgotten what i was gonna say because all i can think about is bees fries fries. Good soda good. I can say it. In central american meal warned my my dining companions that the out fries and all that good. I don't. I don't know if i think justin emma's husband had never been on. I don't remember whether emma had been louis only been once like ten years ago. Whatever so i want them like the fries. It in the kind of famously shitty when we went before i kind of didn't like it. I thought the fries pretty good in and out they were they were sold it. They would like you especially if you get the on the slightly better but even if you don't get them well done still really good and they enhanced the meal whereas shake shack. They didn't enhance the meal. They were kinda limp. They were under under salted under. You know they were bland. They just didn't. They didn't taste of much and i would have rather had the frozen sweet potato waffle fries that i have in my freezer than the shake shack fries. That's that's an indictment. i have general. I've never really not had success there. They're the shake shack fries. I feel like those crinkle cut fries. They tend to do well but that if you had a bad experience maybe speaks to a you know they they they gotta up there. Their consistency factor. Mitchell was at the door raw shack. he's coming for. You is all deal with that. So we've act with board boys. What's up everybody. It's your boy mistress slice now. I don't like to get up in the morning. I'm not an early riser..
"shake shack" Discussed on Doughboys
"Which is what. I've i ran a to I love chocolate ice cream. I love chocolate. Shakes and i was tempted by both. I always want to get the special shaka. Whatever because you know the time limited thing kind of works on me as a marketing. Gimmick i guess all my god i've only got a month to get the pop shake or whatever but neither of them really appeal to me because i mean firstly. I had my first migraine. When i drank coke float when i was maybe nine and so forever. The combination of kokin ice cream is just disgusting to me. It's like repulsive and so did not sound good but that's just a me thing and then the triple chocolate shake i kind of. I wasn't that impressed by the idea. Because i think chocolate chips when they are in ice cream or any form other than melted can be kinda wack they can be like dusty waxy kind of crumbly. You know i'm a little. I want my chocolate to be good. You know if it was like yes pieces of ghirardelli or something. Maybe but i think kohl's chocolate tends not to be that good and especially called chocolate chips like from a bag of chocolate chips not going to be great so just went plano chocolate bolted and it was good. It did come out a little warm. Like i could see when she was loden and up there that it was I think maybe they had made it little li like they've made it before they made the finish making the food and so it was a little melty. I put it in the fridge when we got home and then took it out but it was still. It was a little runny little warm and it was also. I thought it was slightly too sweet. But i think i think those things are related because i am an ice cream maker myself and i know that when you make ice cream has to be like on the on first base has to be a lot sweeter than you would wants it so that it tastes sweet when it's cold so if ice cream melt gets warm is going to taste a lot too sweet so i think that's kind of why i think it's a fault with the shake that's just because it was too warm. It was tasting too sweet But still really good drink. The whole thing lava chocolate shake. So yeah that was. That was definitely. That was definitely pretty good. That was i think. Second to the burger jobs of inequality there. Wow yeah i think they do. you know. i think they do make good shakes. And i think just to reiterate mitch's point which i think is is very good. I think i think just you're you're you're gonna. It seems like you had the best luck of the three of us libby just by playing it pretty straight forward and i think i think that's the way to go ordering from this again. I mentioned just sneezed again. Wow is everybody fucks. What's a fucks going on mustard. John cleese what's going on with me. Why is sneezing. Msci sneeze today The american people can never find out that i sneezed. Make sure you don't this. Section of the watergate tapes. Well all the spoons men. Well we should get to your final thoughts on shake shack so libyan another show. You know this how this will work. We'll each go round. Give our closing argument if you will. And and by giving it a score from zero to five forks. You our guest. We'll begin with you. So i will say that when i going in thaw shake shack probably going to be a folk restaurant and i did want to prejudice it too much but i was like to me shake shack like a solid for on a good day. Four point five kind of restaurant. And i don't know i mean i don't think it is just that this was a so-so outing i do think you're right that the expansion and it's kind of wild out too much. They're trying to do too much stuff you know. And it's like these weird lemonades the the shake coming out with sillier and sillier stuff like pop rocks in shake like you just. You don't need that. Maybe that's something that you know. Maybe they're trying to appeal to a specific demographic or something. That would love something that crazy i mean. Can you imagine anything crazy or the pro milkshake. I certainly can't i i do feel. They are kind of stray. And this is inevitable you know like for a place to stay fresh or whatever they want to come up with new stuff you know. It's like cipolla introducing caso.
"shake shack" Discussed on Doughboys
"It doesn't seem. I didn't even get it on my fries. The they didn't they didn't add it. But it sounds like what you're describing. Sounds like it would not be pleasant on fries. Yeah it was. It was a little strange. I mean the the mayor was fine. I thought it was pretty good but we also had an. I realized that told me about our eating habits on here is particularly flattering portrait. But we had had popeye's the night before and we got news nuggets and those are really good and i it was again. This sort of an unfavorable comparison point shake shang but at the same time. I think the reason the popeye's nuggets so good is that they just absolutely load them with salt. You know that's cheating. Basically in terms of food you just going straight to the pleasure center of the brain and just loading it with salt and probably god knows what else but yeah. They were fine. I i would probably get those again. we go. We plane fries which were honestly pretty. Bland and unimpressive. And we didn't eat many of them i am. I'm not opposed to crinkle. Cut fries in principle. But i don't like when you get like crinkle cut fries a waffle fries or any kind of special cut fry like that. You'd know that they've got to be made by four factories in america and you know when you go to a bar and get waffle fries or whatever it's like well i know what these are going to be like because this clearly just like one place that makes older well fries because like right. You know. you'll local bar is not buying a frie- waffler. They're not buying the thing that they have to. You know like kitchen aid attachment or whatever that would cut a fry in a in a crinkle a waffle shaped whatever. So it's like you know that you'll getting basically the same fries that you would get in the grocery store and that's kind of these tastes like the fried rather than you'd probably bake them at home but other than that. Just not good and you know i've been a defender shake shack fries in the past but this time i cannot tell a lie. I can't defend these. They good yeah. We also go. We got the lemonade. We got the watermelon lemonade to and i think it was pretty whack. It wasn't good It was i mean there. Lemonade is normally pretty good. I love eight. Love especially getting a an arnold palmer or ouaga. That's that's great. Drink really pandering so much. I mean you could tell that. Like i'm not a real guest. I'm just like adobe fan. Who got nick phone number and just pander off so much but anyway and it's working Yeah i thought it had a wizards kind of a weird taste reminded me of when i was a kid and i would put like orange juice. Cranberry juice together like cheap. Orange juice and cheap cranberry juice together and it just wouldn't and i was like making cocktail or whatever it just tasted like had this sort of odd. Bitter taste did not really get any mint flavor. Atoll didn't even really get watermelon. It was just like this is some bad lemonade. Awful we drank it but it wasn't certainly wasn't delivering on the promise from the description And you know i i. I was really between that. And the the jalapeno won the margaritas style. One and i don't know whether i would have liked that more I think they just you know. They're not adding like quality enough ingredients to these basic lemonade. Which is good. I think to make to make it really good so that was a bit of a shame. Because there's really excited about that. I love eliminate And then the last thing we got was the chocolate shake a multi chocolate shake which i believe is also what donald trump gets from. Mcdonald's he gets a a chocolate malt. Is that true. I think so. Yeah i know. He likes the flavor of fish and he calls the vista pretty fish delays. so fucking. so good rainman is incredibly Yeah he calls. The chocolate malt something stupid to equal. He calls it like a malt delight or something stupid as well because he can't retain true facts in his brain so it's gonna just surrounded by enablers. Tell him he's right like some people do. Call it fish i. I'll say this is just a real quick. The fifty fifty. That i got i thought was quite good. I thought i thought the mix of lemonade and iced tea was was was well balanced and i thought it was as advertised fully refreshing. It was a was a was a great beverage. But let's get into shakes because that's half of the name shake shack. It's known for one thing. I think they do well. I think i will say that. Mitch like you talk about them. Varying up the drink side of their menu and that includes the desert side. The desserts in liquid form the shakes they do have new shakes like basically every month and that was one of the ones. I got the cherry pop shake. So it's a as i mentioned reading description earlier. Vanilla cola frozen custard not just vanilla. It's vanilla cola so it's meant to have like sort of like a soda taste to it and very cherry forward. Cherries are not necessarily my favorite thing in desert. I do like cherry pie. But in general. I offer non jerry things and then the pop rocks. I didn't realize that we're going to be so ford such a presence in basically every sip. But you are getting that sort of that you know popping sensation. I'd say all the all that put together. It was pretty good. And i do think this was well. Thought out like the idea of the pop rocks working with something. That's cola flavored. It had that sort of that right sort of carbonation sensation but just in a frozen dessert. And i thought that was fun. I thought the cherry flavor was good. It wasn't artificial. You know it tasted fresh. It just was like very very dense and very very sweet. I don't know what did you think of cherry. Pop shake mitch. So yes the. I got the cherry pop shape shake well. My thing is that. I didn't taste any like real cherries. And the pops were from pop songs. Yes which did you did. You tastes like real. Like chunks of cherry. Just like a cherries. We're just kind of like like ground up in there. i thought they were. They were pretty pureed. But i got to cheer me. Like i tasted cherry flavor but i but i but i didn't But didn't taste like actually like chopped up or or mixed in cherries. But i but i. But i thought it was. I thought it was okay. Like i thought again why it felt like this sort of thing like maybe i should have just gone on with kind of like the like the more basic version than agree with vanilla shake. Yes yeah feels like again not to steal your phrase but a little podgorica And also i don't know if the vinyl came through as as much for me because there's like popping candy and then it's topped with whipped cream in cherry caramel candies and caramel candies. And i don't know if. I tasted any of the cherry caramel candies like it was just basically the popping stuff that was all i was chasing the the pop rocks basically yes and then not enough of the cherries. But i also got another shake. I got myself that trip. It triple chocolate chip shake which is chocolate frozen. Custard handspun with chocolate chip cookies made with milk dark in semi sweet peruvian chocolate topped with whipped cream and chocolate chips. And i didn't get enough of the cookie flavor and this too like they were both kind of like. There's a lot of chocolate chips. Going on the base of that one was was good. I like i. Actually i because it was just basically a chocolate shake almost but both of them just kind of trying a little it was they were it was like a taco bell version of of the of the shakes or something..
"shake shack" Discussed on Doughboys
"You order your order. Your shake shack. Everyone's going sir. If you don't mind. I'd like to talk to the weasel. That sounds very british was. Yeah i i was in a small village. This theater was on the grounds of a manor house So there was a there was a popcorn container. Filled with mushy peas. I think that's only order put in the order went over. It's it's kind of chaotic pickup. I the i felt. I felt bad for the workers because it's very very high traffic location. They're kind of scrambling there. There's a shelf for online orders. Some places have that's clearly just been discontinued. They don't use that anymore. So like i went into one went over to go pick it up and they were like no. Please just wait outside. we'll call your name. It was like okay fine. Everyone's very nice. They did forget a couple of things in order they forgot. At least she's she went back and got those on the also forgot. Our side of sh- of shack sauce was not included shack s. h. a. c. k. I should clarify q. U. newly did say sign of shit by the way you think i order side of shit. It's nearly said side of shit. That's all i was saying. Do you think that was. Maybe the issue. That's what i put it in put in. The app clearly doesn't want that. Don't even charge them for it. Whereas my side of shit. So as we got the that was rectified. I got the shrimp burger. Which is they. Don't have like a plant based patty. They're they're vegetarian. Option is a schulmberger which is a crisp. Fried portabella mushroom filled with melted. Moonstone cheddar cheeses. Very very gooey and topped with lettuce tomato sauce not a lotta shack sauce. I should say very very lightly. Light amount of or too hot honey fries which are supposed to be dusted with our hot honey seasoning and served with avenir a male sauce. It did come with avenue saas but they were just conventional fries. Which is fine probably. I would've liked them more than the ones with the hot honey dust or whatever the fuck that is but it was. It was definitely a kitchen air shack sauce. Gotta get yourself some set aside shos also got the i mentioned that jesus christ which we got the i got the i got fifty fifty half lemonade half iced tea. Kim to the nick wider Which is a third lemonade. Two-thirds icy. And then i also got the cherry pop shake which is vanilla cola frozen custard handspun with real cherries and popping candy. Kind of a pop rock zing topped with whipped cream and cherry caramel candies overall. Maybe someone else got that to go. What will you say overall. The shrimp burger is amiss for me. I just don't like it. I don't love it. I love the i think the the combo of the portobello and then just the the monster cheese taste honestly kind of rotten. It's a little putrid. I don't. I don't like those shows flavors together the texture of it is okay. But it's not the texture. I want a burger like like. There's so much resistance in fast food to just doing what. Burger king did so brilliantly which is like we have the whopper. This sandwich works. We're going to make this exact same sandwich with a with a plant based protein. We're just gonna make the impossible oppor here. You go and you know what this is perfect. This is exactly what someone who doesn't eat meat once. Give me the fucking shack burger. Gimme the roadside double with a plant based protein and also. There's this other thing. I feel like with chef driven fast food places. Where or fast casual places where there's some resistance to having just using the beyond the impossible protein they wanna like we have our house made veggie patty or whatever they could put that in the fucking trash with. Your house made ketchup. Gimme the thing that's been engineered by in a fucking lab that tastes like a good Chrome of the real thing..
"shake shack" Discussed on Doughboys
"Your take on. It now burger. Yeah we actually got it twice during the We were california for eleven days and we got a lot of fast food while we were there. It's kind of embarrassing We went to in and out twice. We did del taco into jack in the box. I think that was partly because we were on the trip with a fellow jobs fans mo roller and her husband And so we were we were. We were listening to boys driving back from palm springs. And you know talking about davos restaurants me injustice with a the big the big boys heads in the car and so we knew that you guys talk about these change that we don't have in the places that we live so we kinda wanted to hit them up which is really fucking sad. I mean we're in this like this. With arguably the best food in in the nation. This place that i love and we were there for eleven days. We somehow managed to fit in like several fast food stops but it was. It was good anyway. Yeah in and out twice wants as soon as we landed in. La which invites some unfavorable comparisons to gingrich from you neck. Right that's that's the gingrich move new new lands and elena and immediately goes in and out burger the one right by the airport. Yeah we we pulled gang. We didn't go to the one right by the apple. We went and picked up a car at union station and then we went to the one in baldwin park which i think is the original in an hours by the original in and out something yes in that port in and out to sea fucking gang as you call them fucking his car waddling up to the drive thru line is car. Can't move like a normal car. It has to cartoon actually seen gingrich. Gingrich is one of my few dc celebrity sightings And it was so long ago. It was when i was here as an intern in the summer of two thousand and eleven and i was in alexandria which is in virginia. But it's on the metro line and it's you know touristy place and it was. It was fourth of july weekend and it was when he was extensively running for president in twenty twelve republican primaries and he was sitting by himself in a sort of nice cafe in alexandria Eating a bowl of tomato soup and reading like an off brand kindle like noko something and he was just having the time of his life. You know all of the other people. I presumably running for president. In iowa or new hampshire you know like doing grip and grin like fundraising stuff or whatever and this guy was just living. His best life eaten his soup reading his little sub kind of airport novel on on his nook. And i'm remember. Some lady came up to him and she was like you. Campaign for president isn't going very well or whatever and he's like well we fired all the expensive consultants so it's going a little better or whatever not like dude like what are you doing. It's clinton going well out in the fucking the king street cafe or whatever. Eaten your suit Yeah that was one of my few celeb- sightings here anyway. I got way off track there. Sorry in and out very good love love in and out. I had it when i was at ucla. I did a year of my undergraduate ucla Back in two thousand ten thousand eleven and we would go because there's one in westwood and we would go there fairly fairly often and then yeah. I haven't really had. It probably had shake shack more than i've had in and out by now his living on the east coast for all of the time living in dc. But it was. It was quite a treat coming back and having in and out there are a few shake shack in dc. I would imagine yes. So there's actually one very close to my apartment two blocks away. Yeah yes so. It's part of the reason we did so much food eating when i forgot one. Sorry we did the habit as well. The habit is the other place that we owe the habit. Yeah it was pretty good. I think part of the reason we did so much false. Fooding when we were out there is that.
"shake shack" Discussed on Doughboys
"What are you supposed to do. I took it to city hall. I know i just can't going up the chain chain. And he kept you know and then eventually they were like okay. We've best we've reversed it. It's it's probably someone who worked for us who it was missing but is probably someone who worked for us. Who took it. The employee fired. That's what i wanted. I was like just fire. Everybody i want you to clean house. Or i'm never going back and you know what still sleeping in that debate to this day. I was kinda hoping that you had up as a pirate. I was hoping that was piracy. Pirate you know. Raise voices great but imagine if it was pirate voice which as we know is not boring or nuttier annoying or anything. No i love that. Do cats like parrots. What how does the cat react to apparent. I've never asked to be what she how she feels about parrots. I imagine that her reaction would be the same as it is to anybody bird which is to hunch down to the floor and make that weird clicking noise with her with her mouth ferry disturbing while we to earn sometimes or he does like the like. I'm yes yeah. Yeah yeah. I mean again why i mean we don't how are we know. I don't know. I don't know if you have interactions with parents. I don't know what you sometimes you'll you'll there'll be the parent the shoulder guy. Who will come around. you know. that's his thing. But you're you're saying that like if a parasite don't eat me like that sort of thing and then the cats are like well wait a minute. There's a voice coming out of it. No the cats. The cats the cats to put the burden. It's mouth they want to eat a cat somewhere not eat bird. Maybe not maybe not as much as just catch it. And i mean there is. It is so crazy that there is just a natural hunting like mechanism that kicks in and their brains or they they just wanna hump the birds yeah. I grew up in the english countryside in a village of about three hundred people and we had cats that would the village and they go pretty far and The one that we had who actually just died this year He would bring in all kinds of stuff he actually. I mean you know he would bring in like birds and mice and stuff. One time he brought in a live chicken which was very impressive. Yeah it was very impressive feat. I was. I was in the kitchen cooking chicken. Which felt really gross. I kinda wanted to hide it. I was like look at it. And i heard this noise The cat door and you know how like when your brain his annoys. That isn't what is he used to. And you kind of know. Something's wrong before you've seen it. I turned around and saw him pushing this like full grown chicken through the cat and he's just carrying in his mouth. You know like it was the most notable thing in the world. And i was like. Oh my god. Spencer drop it and i got him to drop the chicken and we chicken was like dazed. He was fine and so we put the chicken like a bucket. You know just like a normal like mop and bucket bucket and my mom took him took the chicken up. The road covered in a towel and she would knock on each door. There's about fifteen houses on a road or something so she'd knock on easter and of reveal the chicken in the bucket and say hello. Is yo chicken and sign normal village stuff village right things. Yeah i know. Eventually she She got to someone who said oh no. I think that. I think that chicken belongs to the manor house and so the way. This is embarrassing but most british shoot. I've ever heard really is in english villages. Let's say a thousand years ago there would be the lord of the manor would live in the manor house and it would be connected to the church somehow and it will be the richest guy in the village who owned all of the land and people in the village. And the you know the surf's would pay the wages to him or whatever and somehow in my village and many other villages the manor house still exists and now it's just like a normal rich guy who lives the you know he doesn't own any of our labor thankfully but Yeah so that manor house. They've always kept animals. You know sometimes. When i was a kid pigs there and goats and stuff like that and so mom took the chicken up to the up to the manor house and knocked on the door and the man who owns it answered and she said hello. Is this your chicken. And he peered into the bucket and went. Hello doris yes i believe. That's awes- homeland. god i just. I realized that i was telling the story that i'm not doing any favors to mitch's apparently preexisting impressions of england as the worst place on earth. Whoops sorry guys by beef with with with with england is is people. The brits who were like who who say america's is the worst which we are bad. I know that we are bad. But it's not one of the things. Don't throw stones. we're both bad about it. As as who's been in america almost ten years now anytime. I'm on twitter or in in conversation and i see british people laughing about american you know gun violence or healthcare or whatever and then americans british food or whatever. I'm like this is no one's winning this fight. It's it's really. You know everything to countries ago at each other like you know i. I'm in no position to really common. Either because i was born in one and then chose to move to another person i like. I don't really hate anywhere except for those italians. i was gonna say except for the italian man. That's that's that's a first of all. I gotta train wally and to bring some chickens and i think that sounds like i want i want i want doris. I wanna doris live. Dr. was okay. I lived stars live too happy life as far as low at the the lord i guess if the manor has been known to To shoot animals on his property. There's another kind of sad story about him. Shooting some deer that were chewing his plants. Or whatever i mean. He's real piece of shit. So that's i think doris probably lived because you know she was probably an eggling chicken value. I doubt she ended up on the dinner table at least anytime soon but That was one creature that spends it did not manage to kill many others. I'm afraid did not meet the same fate. Wow yeah mike had zip my cat zip. Who's an indoor outdoor cat. Like she would sometimes bring in a mouse. And then i had a cab buster. Who was declawed. This is but this is back in nineteen eighty. I know i. i'm i felt. I feel the same. This is eighty nine or something or maybe nineteen ninety. My my mom had her declawed. I i think times have changed. She lived she lived a great long life. She lived till she was eighteen and we loved her very much. Buster mom here today. We're around and so it's over for my mom. But but i i would never i would never i would never do clough all in. I've never declined. He pat but but buster light check social media. I'm cancer. oh my god you gotta get me onto with those. What is it. what is what is what's the right wing tour again You mean ben shapiro. Canseco guest shapiro. Oh mrs mitchell. No the comedy. The the the right-wing comedy people. What are they called I mean there's all sorts of subset subgroups here but do you wanna poke this bear literally this. Do you wanna do you wanna take a stick to this beehive like the goons. Whatever they call themselves. I forget the name of a mall whatever. Yeah it's sort all this out. Yeah it's definitely not worth it. We'll sort this out we'll be back with bordeaux boys know.
"shake shack" Discussed on X96
"Farmington. It's affecting the left lane. But traffic's pretty light this morning, so Not causing too much trouble. Um, yeah, that's the only accident so far. You're not telling me about if you see something you can text it to us, 33986. I think my wife since yesterday that I was tense because of everything that was going on. And so she said, Tell you what we're gonna make today. Better. We're gonna have those Korean chicken sandwiches delivered from shake shack today. Oh, okay. So I'll give you a really give you a report tomorrow. You can do that? Yeah. All right. We got a big boy news and opinion window coming up, and, uh, Trust me. Take all the time with the news that you need. Don't worry about Rushing to make sure we get big news in because I think they're probably some more important things happening in the world. Then will Ray Fisher continued to play sideboard? I mean, I have that stuff. No, we need the distraction we need. I think we need that more than you need. What? I can't. All right. Let me dig some up for you. Then you care about the air. You look you see a IR. That's that's the acronym. You care. If you go to you, you care dot or g'kar. You can find out ways to help. Improve the air in the Salt Lake Valley. You see a ir you care.
Celebrating Burger King's birthday
"We are celebrating a birthday tonight. Furger king the home of the walker turning sixty six years old today on december fourth nineteen fifty four. The first burger king franchise restaurant opened in miami florida restaurant. Brands international owns a fast food brand trading under the ticker sr the stock hopping today but shares are down this year about five percent. So are you sinking your teeth into this name. Tim see why now. You're a fan. Mel first of all. If i gave you one word to describe the king and i do mean the the the mascot not necessarily the franchise i mean. What would you say. Creepy creepy gaining exactly burger. King has had a few different lives going from public into private to being purchased by by. Us bottom line. Here's at thirty one times. Think fast food is is actually been a beneficiary out of kobe. King for all sixty six years is actually looking kind of interesting here and over though. I'm long mcdonald's. And i think that's the preferred play from it by the way we wanted to know we being myself and the crack staff here last wants to know how creepy the king has been over the years. I mean it's been a sixty six years so with back in time and we did some research there's a current king on the left and you can see. He actually started out quite cute. In the one thousand nine hundred sixties. Get him sitting on top of the burger and his little sort of colonial outfit. Grow your top picking fast food here. So i would go with. Tim's with mcdonald's is well. I wasn't shake shack and i think that shake shack. Ken move a lot higher from here. But i had to sell it to make room for some of the other names that i that i am in but it is worth noting. That guy adama had his tenth birthday in burger king. The first year they were open. So i think that kudos to him gray call break call on his part. I will say it looks like is building a base and is ready to break out as well though. If that's your if that's your pick your poison. Another guy dombi favourite. Not even here
Shake Shack shrugs off trade war, opens outlet in Beijing
"The rising tension between China and the U. S. has done little to stop Chinese burger lovers heading to the first American shake shack burger restaurant in Beijing nearly two hundred customers to do the needful well the Browns opening in a shopping area popular among young people young family told the AP she was impressed by the flavor a few years ago when she was on a study tour in the U. S. she says although with Chinese we should not discriminate against American brands because it the current China US ties has nothing to do with its people another customer said China's Yang kenal saying no to food from other countries but they can try to consume more food that's made domestically I'm Charles the last month
"shake shack" Discussed on The Daily Zeitgeist
"When, I first saw the story, we had not yet arrived at They lied it was. There was a series of small tidal wave of Gen Z. names that were just sort of like. The Revolution has spoken or Read Shakes Shit like that and then and then. I I mean again. The my concept of time is totally shot. After. Shortly after you know, turn out to not be true, and then it turned out to be a really a really weird. Weird Blip of story. I mean I as if we needed another example of cops just being mask off liars at. This was an interesting. This was an interesting swing because it's a big thing to be like, say that. Police had to go to the hospital because they were. They ingested some kind of poisoned milkshake at shake shack, a Bellevue hospital specifically, and then like the NYPD begins like a search through discarded tracts cans. Think maybe there's bleach or something evolve. They cops couldn't find it, and then they're like maybe no foul play. And then it was like what the fuck was that like. It reminds you that thing that one cop who was like they wrote pig Omar Omar starbucks cup, and he's like I actually wrote it myself. Right and then you're just like okay, so you are you live for drama and you hate yourself what I'm taking away from this bit cognitive dissonance of night, even beginning this conversation of saying like first of all. Do you know just by the nature of our laws? The police are very much a protected class of people, so I don't know what would this self victimization oppression narrative is coming where it's like. I don't know what. Bro Like I could fuck in like sneezing your direction, and we'd be like it could potentially be like assaulting a peace officer like none. No, no, no, no this other ray, these poor attempts at trying to like curry the sympathy of people when they're wrongdoing has been on full display the last week's. And also watching the way that this what appears to be a pretty bad faith. Story escalated so quickly on social media like the way that like the NYPD was like. Oh my God. That was like there. From here. Here's a tweet. From the. PGA Hashtag breaking when NYC police officers cannot even take meal without coming under attack. It is clear that environment in which we work has deteriorated to a critical level. We cannot afford to let our our our car down for even a moment, and in the meantime you've got shake shack. They're actually not comrade. Shake Shack because they're tweeting out. You know like we are horrified by the alleged reports, police officers, and then they have the rainbow capitalism shake shack logo, and you're just like what a fucking. There I. To entities interact in this way like. You're like Oh. Why are the police talking to shake? Their I've I honestly. Don't know as of this recording where the shake shack us. Story has quite landed. From shake shack is that shake shack has been cleared. Shake Shack has been cleared officially and now they're saying we are horrified. Visit tweet from at fish at shake shack. We are horrified by Blue Check of we are horrified by the reports of police officers injured at our two hundred Broadway. We are working with the. Oh, no, that's old. Yeah that's the O- that's when they see. Or fight of where the one or they're saying Oh once you to Dick, NYPD. And also we're GONNA. Stop paying rent. Last trending stories NYPD says there is quote no criminality by shake shack employees after three police officers fall ill so so now now. The News needs to be on why this happened rather than. Yeah, all right. That's fine, you know. Against the attitude I'm sure that's what cops do like here we go. It's like no right now. This is the absolute kind of bullshit. We can't tolerate especially when cops like they're trying to act like they're being will like. People are maliciously poisoning them at shake shack. Come the fuck on the only people who maliciously harm random people they don't know. Is the police my theory? They ate too fast. They're like they're they're. No. They're just lying there. Obviously, yeah. There was a good tweet about this whole situation that I wanted to share from Danielle Weisberg. They investigated that shake shack faster than they've ever investigated a sexual assault, but K. like the while. It's true. The yeah I mean. It shows you to protected class. One of their own look everybody shows up. Everybody shows up. For you know the citizens that are telling you that they've been injured About how about I? I'll give you some arrive. When if a COP has a bellyache at a Broadway shake shack now slipping all you're flipping dumpsters whereas the bleach, you're roughing up in couriers on bikes. Come on asshole. What happened Jerry Orbach down there? There's A. Bellyache and finally to pock is trending, because today would have been his forty ninth birthday. If, it was not assassinated and there's many many theories about what could have actually happened with two box death very interesting to think about. Because He was talking. This his lyrics are pretty fiery back then. Jamie thanks for joining. On this little trended trend venture with US always. Always a pleasure. Yeah so don't and please be careful. The next time you go to shake shack Dunkin Jamie. I don't want anything to happen to you Duncan whenever time. I'm really grateful to say that. Yeah, I trust my, Duncan implicitly, and if if my Dunkin chooses for me to die I, accept. This is your trump. Colt is Dunkin like if that's what they say, that's what's meant to be. You I think Ben Affleck would agree if the dunks trees you as. As tribute it is what it is you do it over. All right well. We'll talk to Y'all tomorrow. We got a fantastic episode. Check that out It's going to be a one for the books. All right CK are not be careful. Take care of yourself. Take care of others. Try to help somebody in need. If you see them, trust me, it will feel good. It will empowering that you could actually help somebody even in the smallest way I swear to try it out. I'm not even joking. Just try it out. You will feel good I'm serious, thank you. We Love You love yourself. By. The familiar looking for a fun feel good listening experience. Check out our podcast hanging with loss. They lost. My name is Sheboygan, and this is my beautiful wife. Janet Hi guys were a bilingual Mexican American married couple with two beautiful young daughters ready to fully expose our life. Discuss relationship drama, yours and ours, and you with faith, encouragement and laughter see. Wayne. Come hang out with us. Listen to hanging with Lesotho's on the iheartradio. APP Apple PODCASTS, or wherever you get your podcast for more info visit. Los Othello's DOT COM. Babai Hey guys. It's bobby bones I host. The bobby bones show and pretty much always sleepy because I. Wake up at three o'clock in the morning a couple hours later. I get all my friends together. We get into a room and we do a radio show. Wish our alive. We tell our stories. We try to find as much good in the world if he possibly can, and we look through the news of the day that you'll care about also your favorite country artists are always stopping by to hang out and share their lives and music, too, so we..
No foul play found after NYPD cops get sick from Shake Shack shake
"Works more police officers hospitalized last night across the country in attacks rocks bricks that kind of stuff and in New York City it they got got creative there and this is kind of remarkable one three police officers who were on you know riot patrol where they decided to go get some lunch at the shake shack I you know generally I like they should show they have chocolate shakes are like shades and a good burgers and stuff however you know could be a problem if this were a lefty think there'd be a nationwide boycott of shake shack starting today but it's not a lucky thing because they they you know they're anti police the Democrat party Joe Biden all of them from the top down anti police anti law and order pro anarchy pro cast pro arson probe looting pro attacking the police that's the that's who they are but three NYPD officers went to the shake shack and they got some food a lunch break and apparently the got milk shakes because it's called the check check and out before you know it all three of her in the hospital and it looks like there was bleach or some other kind of toxic chemicals in their but it looks like they're shakes and that's either in the hospital that's called poisoning they've been poisoned and the R. and now the police say that they have launched a thorough investigation and that they've determined that there was no foul play of any kind that's what I said they said after a thorough investigation it's the lickety split throw investigation didn't take very long by the NYPD's Manhattan south division you always hear about that on TV shows about cops Manhattan south it has been determined that there was no criminality by shake shack's employees because it's not illegal to pour bleach in the the end of the milk jugs of police officers I guess that's it the NYPD again I I just I if you're NYPD now did anybody else at the check check fall ill apparently not just these three police officers they were hospitalized and it looks like bleach or some other kind of toxic chemicals and the police they all did a lickety split investigation there are not exactly that that the Warren Commission and day I came back and said oh no no criminality is that mean no foul play no criminality that's the that's what they said the police benevolent association disagrees they're taking issue with the with the conclusions of the up but that's the kind of an amazing start that and here's that seat I don't know if they know how to do police work in New York anymore but if these are the only three people at that shake shack that got sick and had to be hospitalized yes the that is a data points that might be of interest to investigators how do want to tell me how to do their job rather but if those are the only three people that were poisoned with a toxin when they went to this particular shake shack that would be that would be I I how would I say a
New York Police Find No Criminality After Officers Sickened At Shake Shack
"Story out of New New York York in in the the shake shake shack shack it's it's it's it's horrible horrible story story it's it's yes yes it it really really is is this this is is what what we we should should point point out out though though I I mean mean they they they they they they did did do do an an investigation investigation it it was was an an accident apparently there's there's no criminality they say by shake shack's employees according to the accident oops poured bleach into the ice cream sometimes things happen I guess when you're cleaning machines and things like that it's it happens okay what yeah that's what that's what they're saying in the investigate less plausible
New York PD rules out criminality by Shake Shack after officers fall ill
"Who the New York City police department has been investigating whether three New York City police officers drank milkshakes spiked with bleach WCBS TV Alice gainer at a shake shack in Manhattan three officers became sick after having shakes from the restaurant police say the officers remain hospitalized employees are being questioned Sheikh sample was taken to a lab for testing we're just in from the NYPD there was no criminality by shake shack
"shake shack" Discussed on How I Built This
"Cascade of. What I'm told as well well north of two or three billion dollars of funds that were returned subsequent to that so. That's the kind of example that I would want to set. It was of course never shakes acts intention to. Elbow their way to the front of the line to exclude other people, and so became very simple decision to return the funds at that point. In, terms of like just thinking about what's next I mean you've been in business for a long time. You've dealt with a lot of. Difficult moments. I have to think that you still have optimism about the restaurants recovering I mean. To do you? On most days on most states idea I think. It's now been long enough that while I can still remember what it feels like to walk into gramercy tavern, smell, the wood burning from the fireplace, and and seats three deep at the Bar, every tavern table, full of people with cocktails, glasses of wine, and in rich conversation, the clinking of glasses. And yet. If you walk by gramercy tavern today you see a window paper with a big mural, says we miss you. And then about eight hundred things we miss. And I just since I don't know. When our New Yorkers going to to start feeling normal about going out to restaurants. Just don't when that's going to be and when they do. If. The law says that the only way to do it is for gramercy tavern to be at fifty percent occupancy with six feet between tables. Understanding that the economics over restaurant are such that you can really only turn a profit when you're at least eighty percent occupancy, it starts to be a difficult equation because you start to go look as a citizen of New York and as a citizen of the restaurant industry. have an obligation to turn this engine back on. Because people need it emotionally gap, and then you go, and as a steward of my business. I have an obligation to stop losing money because we've had. You know practically zero revenue now since the middle of March. And every day we lose, money is another day. We cannot hire someone back, so you know by turn to this Maya angelou quote. Almost every day, which is something along? The lines are long after people forget what you did. And what? He said, they will remember how you made me feel. And it just it's true in good times, and it's certainly true. When you don't know where you're going. An update from Danny Meyer founder of Union Square. Hospitality, group and shake shack. Thanks so much for listening to this show this week. You can subscribe wherever you get your podcast. You can also write to us and each. AT NPR or Tweet at us. It's how I built this or at Cairo's. Show is produced this week by PC. Herman music composed by Ramtane Arab. Louis. Thanks also Julia Carney candice. Limb Sarasin leave grant and just rogers. Cairo's rise.
"shake shack" Discussed on How I Built This
"It's a similarity here right well. Aaa I think Steve and CIPOLLA. Really. Deserve an enormous amount of credit for. Being the first national chain to break the barrier that fast food could not be. GASTRONOMIC, there's real cooking the takes place in real time and and I think. He deserves a hell of auto credit for that. What? What was it about I? Mean you say you were surprised? When you start to see these numbers? Will you serve yourself? How did I not see this until this point? No, no, because it just. It was never my goal. My goal was to help beautify a park and help. Keep it funded. You know something that. That I'm incredibly proud of just going back to the initial goal, was that that one shake shack in the original the original shake shack, Madison Square Park. Pays in rent, but depending on the year anywhere between half a million and a million dollars per year right back into the park. So it did what we expected it to do did a whole lot more than that, so wh at at certain point, it became clear that shake shack. You need to spin this out and make it its own business away from the Union Square Hospitality Group. was that just a clear direction? Did was the obvious. Place to go. Yes, it was a horse that wanted to run in. It would have been irresponsible to choke it at that point you really. We let the reins out and and. We had the right leadership team we had a bunch of. People who were at the point in their career where they said. I may have started at the modern gramercy. Tavern Union Square Cafe to this day. Our leadership team almost all came from our fine dining restaurants. and. I feel so proud. I'm the chairman of the board, but I. don't run the business and. I'm proud that the culture. is if anything stronger than ever right now. You have had a I wanna make it clear that you have had. Significant, failures along the way, because if it's just success, you're not interesting. Just be honest. Be Success to success as boring and you've had to close restaurants down. The Tableau Tableau was like one of the juggles in your crowd is an Indian restaurant, high end beautiful space, two thousand ten. After years of losses, you very reluctantly had to shut this place down and I guess your team kind of push you to do this. They had to say Danny shut this down. Yeah. You know I think that I had a really bad relationship with the notion of failure. and. It took me a long time to realize that. Not Every restaurant is gonna live forever and what I also came to terms with. Is that I'd probably kept open two years longer than I should have and that in doing that. My rationale was. I don't WANNA put people out of work. But in keeping it open two years longer than I should have where we couldn't make ends meet. I was actually doing something incredibly unfair, which was to? Keep people on the team. Just because they were so loyal and they were not getting raises than they were not getting promotions, which just isn't right and everybody got a job somewhere else. We held job fairs for them. And we went through the same thing a couple years ago with a restaurant called North End Grill. Yep and then we had a third restaurant that didn't work called Martina and that restaurant made it just barely over a year. So we've made mistakes and the the goal is. To. To actually not feel that bad with Martina. What I try to do is to learn how to fail faster and not hang in longer than I should have yes. Do you when you think about all that has happened to you and you open this restaurant and eighty five to really well. You Open. A second wanted really well. And then shake shack was just exponential to publicly traded company does six hundred million dollars in annual revenue huge crowing business. Could do think that all this happened. Because of your your talent and your hard work, or do you think a lot of it really has to do with being lucky? I I would say eighty percent luck and twenty percent work.
"shake shack" Discussed on How I Built This
"And we started giving away hot chocolate to everybody for free. Who in the snowball fight? And Somehow Tech route adopted shake shack at that moment. And It became something more than a burger place. It became exactly what it was supposed to be which was. A place that you went to to see people, and this was gonna be a place that kind of forced to. To just slow down over and to be with people. Here's what's amazing because I mean shake shack was in New, York for like five and a half years and people were literally like getting out the flights of Penn station. They were going there. It's like they're things that people did when they got to new. York and people were going to shake shack and. And, there were people saying please like open this up and I'm sure you were hearing that for five and a half years, but I think you guys were sourcing your meat from like a really great meat place, and you really I mean. It was fast food, but it was slow fast food I call it fine casual. Find Casual Right. Were you thinking? I don't know if we can really expand this out. Well. I was saying that wasn't why we did in the first place. We did it to take care of this park. And we're learning business. That was very different from. Anything. We had ever done I mean it was nothing like Gramercy, tavern or eleven Bassim Parker the modern. We were serving. Over a thousand people every single day learning learning the business learning how to do it. And also keeping my I still did not want to be viewed as a chain. Why why not? 'cause chains and fine dining. People never wanted to be seen in the same room. They thought we were stupid and we thought they didn't have any taste. Yeah, and so this was a fascinating moment because. We knew that we needed to learn some of the systems that chains were expert at. We are also really fortunate that. We had a young guy. Who had been general manager of Taba in general manager of Union Square Cafe, who had been our director of operations still in his? Early Thirties. and. He wanted to run shake shack. Cornell Cornell Grad named Randy Garate. Randy lives on the upper west side and. He kept passing this space and he kept bugging me and saying. Can we please do a second shake shack? He said. What's the biggest complaint we get? Shake Shack and I said the lines too damn long. And he said what if we could actually cannibalize our online a little bit. Wouldn't that be a good thing? We'd stop getting that complaint. So we opened with opened on the upper west side, seventy seventh and Columbus five years to almost to the day later. And, not only did work, but the line got longer in Madison Square. Park and I said Oh. This is. And then we open on the upper east side, and then we opened at city field with the mets with their brand new ballpark. Then we opened in the theatre district. And every single time opened one. We'd have the lines, and you know it just kind of blowing our minds, and we're trying to figure out. What are we half year? We had to figure this out was it was a challenge for your team to adapt once? She started to take off because I mean I. Mean by this point you had gotten really good at running these higher end restaurants, but I mean Janecek is a totally different business model. It's It's a burger joint right? There's there's counter service, cooking, burgers and fries and making shake so. You don't have to buy four grind. Have Fancy wine lists. Do all those other things that you know that makes eleven. Madison Park is restaurant, right? That's true there's about. Seventy percent of the cost taken out. There is not a if you look at any shake shack. There's a chef or three sous chefs, pastry, chef, maitre, d', or reservationists, or florist or linen company, and I probably only half the cost talk. There's no bartenders. If if you just take out all those costs, but then you continue to give the same level of quality ingredients. You start to have a pretty interesting value proposition and the the old rule of to that we all grew up hearing about whether it's construction, or you know certainly fast food, which is, there's only three salient. Architect will tell you speed quality and price which to do you want. The that that's the rule of to get. And so fast food always told us you can have cheap, and you can have it fast, but obviously. Your beef is not going to be antibiotic and Growth Hormone free and Blah Blah. So we realize we are actually onto something by accident, which was it's still a rule to? But whoever wrote the rule that has to be one plus one plus zero, and what we found is that. It was not as fast as fast food, but it was a lot faster than a full service restaurant, and it was not as inexpensive fast food, but it was a lot less expensive than a full service restaurant, and the quality of what you put near. Mouth was just as good because it's the exact same butcher that we use the union. Square Cafe, Pat Freida and. And you're going to have to come and get your own food when you're buzzer goes off. We're not going to bring it to you so if you're willing. To up with a little less of the niceties, we can deliver a hundred percent, and so we found was the rule of to was working basically point six five plus point six five point seven. Oh, yeah! Schools to and that was new. Were you surprised at himself fast forward here from because today I, think they're like more than two hundred and fifty shake shack around the world, and and I read that the average revenue of a shake shack locations like four million dollars, which is really I mean. That's doing very well. When you compare that to your competitors, but were you surprised back then in in two thousand ten two thousand eleven. How shake shack for performing in comparison to like you're fine dining restaurants. Yes, yes, they were grossing. Today they're grossing on average of a little bit more than four million dollars per shack. There's two hundred seventy eight of them in the world, and if somebody had told me that would be in fourteen countries. In addition to the United, states with two hundred, seventy, eight of these, and this is sixteen after we opened our first one and yet. It's only eleven years after we open our second one. You know. We didn't create burgers in the first place, and so so you ask yourself. What is it that makes people love it so much. And again I come back to to hospitality and I believe that if that there's a lot of restaurants. That exist to create something. You've never thought overheard of in your life. There's a lot of really really imaginative chefs who? You could give. A duck to, and they would create something. You've never imagined aquit. Shake Shack does instead is it takes food you know in cooks better than you knew it could be. An and people are nice to you. Are Perils interviewed Steve ells a couple years on the show, he thought she Poland his dream what he worked at stars in San. Francisco and his dream was really to be a fine dining chef. He wanted to open up four diamond or Michelin, three STAR Restaurant. That was his dream you know. And he opened chipotle to to generate money, so he could open a finding restaurant. But of course chip Kelly turned into fast casual place high. All the food is made on site..
"shake shack" Discussed on How I Built This
"You may have noticed something that all these protests over police violence. There are a lot more white people there than you'd expect. But how long will that last this of woking on White American voters? How far they really willing to go beyond dethroning trump Adam server on race and lessons from history. Listen, it's subscribe to. It's been a minute from NPR. Hey welcome back to how I built this from NPR. So it's the mid nineteen ninety s and Danny Meyer is looking to expand his business. He has his eye on a building on Madison Square Park, in New York's Flatiron district. He wants to open a fine dining restaurant called eleven madison park, but the parks not in great shape New York is just beginning to think about revitalizing its public spaces and Danny wants his new restaurant to be part of that movement. Here's here's this story goes, so I sat down to negotiate this lease with the company that owned the beautiful eleven madison building, but before even talking about money I said I need to know that you would join me. In an effort to restore this park, because this park could be gorgeous just like it was. In eighteen ninety eight. Yeah, so we together created. Something called the campaign for the new. Madison Square Park. and. We raise money. We raised eleven million dollars. And Fast forward several years we engaged the Public Art Fund Wonderful Organization in New York City. To help us bring art to the park, and there is an artist from Thailand in his idea was to have taxi cabs on stilts with a working hotdog cart to go with it. And He needed someone to operate the hotdog cart, and so I. of course we'll be glad to do it and you know all of my colleagues at. Eleven Madison Park in Taba are Indian restaurant, which was right next door. They looked like I was crazy like the last thing we need to be doing is Chicago style hot dogs in the middle. Of Park, that's wanted to do Chicago style tags I wanted to try to prove that this hospitality concept that I've been thinking about so much was not just for fancy restaurants, but it was everywhere and I wanted to prove that it even mattered at a hotdog cart. The reason that I wanted Chicago style hot dogs was. There's eight toppings, and I wanted the people who worked the hotdog cart to remember. is favourite toppings because everybody for almost everybody. There's like one of those eight toppings. You don't want right. Yeah, I, don't like mustard or I don't like. neon relish. Zappers. I! Love Tomatoes. Tomatoes, I'm okay with the tomatoes celery. Celery salt showing off now you got him. So so anyway, we. Are Out of season co checkers so they would now have a job. You know. Four months before code seasons. They were happy. And we cooked up in the private dining room of eleven madison park. That's where the hot dogs were cooked. and Lo and behold. This was hotdog cart. Just killed it. We had you know it was covered by. Peter Jennings Tom Brokaw. Dan Rather. CNN covered it. And there'd be a hundred people in line every single day that summer, and this was as far as the same nonprofit right this ninety four stand. Well. What we had done was to offer to give all of our prophets back to the Madison Square Park Conservancy and It was pretty easy because we lost about five thousand bucks at first year. and then nine eleven happens in the city was really not only in a economic depression, but also an emotional depression, and so the following summer two thousand and to. The community basically said even though we've moved onto a different piece of art in the park. Can you just bring back the hotdog cart out service because it feels good, so he did that was on it. You didn't intend to return to. Correct it. We did it again in two thousand two. Then we did the third year two thousand three. And that year we made seven thousand bucks. gave it to the conservancy, but meanwhile. We were. Cooking up this idea. And we got permission. To create a permanent kiosk and Madison Square, Park. And so I convinced my mom to join me. In gifting as, permanent kiosks starting with hotdogs. Let's gift to the park, so the park will actually be the landlord. We will own the business. But, if it works the goal, the only two real goals we had were. Kennett attract people to using the park morning noon and night. And could potentially create a revenue source for the park. This is GonNa be a standalone building in Madison Square. Park that that you would build that that and that you would give to the city. It turned out that we had it built model early somewhere in New Jersey and so. You woke up one morning in. Two thousand four and it wasn't there and you woke up the next morning and there it was almost like the house and the wizard of Oz Lau and this was going to be a hot dog. Stand, or did you say let's make this something different? Yeah, so I said we got to start with hot dogs and I just sat down one. Dave just scribbled on a piece of paper. The menu in the menu scribbled that day is kind of ninety five percent. What we serve at shake shack to this day. And, it was basically. Just going into my own memory bank from growing up in Saint Louis. All the things that I used to love doing you know as soon as you got your driver's license at the age of sixteen. The whole point was to get out of the House and be with your friends, and the the safest place to do that was a parking lot, and it was usually a parking lot connected to a burger joint and New, York didn't have A. People don't have cars. Kids don't have cars, so there's not that culture, but we do have parks and I said what if we could? Do for this park. What parking lots always did for us and have a place that people could come together so on the menu joining the hotdogs would be the same kind of Burgers I loved growing up the same kind of shakes. I had known growing up and we just added you know. CRINKLE cut fries which I loved growing up. Yeah, and that became shake shack, but what I didn't know was that. Shake Shack would work as well as it did work what I. Think a lot of people we think about shake shack now it sounds like a no brainer, but like this was still i. mean there was five is and obviously in the West, coast you've always had in and out Burger, and they've always been regional great regional burger chains, but when shake shack opened like for one thing, it's in Madison Square to New York but it was a phenomenon like there were lines around the blog. I mean they were really good burgers, really good fries and shakes But did you expect that? Did you expect it to know? What explain it well. How did you explain to yourself? I think we hit a really lucky point in time, and there was one winner where there was a massive snowstorm, and somebody used twitter to announce big snowball fight in Madison. Square par up it Blah Blah Blah. And we heard about this.
"shake shack" Discussed on How I Built This
"I'm guy and on today's show. How a project to revitalize an Old City Park lead New York Restaurateur Danny. Meyer create the very first shake shack, and then turn it into a billion dollar hamburger empire. A few years ago, a interview Tony Shay the founders zepos on the show. ZAPPA who sells shoes and clothes? But that's not how Tony Thinks of the company. He describes apple as a customer service company that happens to sell shoes now it's kind of the same story with restaurants. Ask a lot of chefs and restaurateurs. What business there and you'd think they'd save the food business, but actually food is what they happen to sell you. The business they're in is hospitality. Restaurants are places where in normal times people come together where we gather where we have an experience now when it comes to any business, only about a half of them survive long enough to celebrate their five year anniversary, but for restaurants. Only a fifth will make it that long. The food industry is a tough industry and covert has made it even harder. So, many restaurants will not survive this crisis, and that also goes for some of the restaurants created by Danny Meyer today's guest. which should give you a sense of how deep this crisis is hitting restaurants because Danny Meyer? He's widely considered to be the most influential restaurant tour in the United States, and not just for shake shack, but for his higher end restaurants like Union Square cafe in gramercy tavern in New York City. Danny's influence is so deep that many shafts and restaurant owners are looking to his team at Union Square hospitality. Group to figure out what to do next. In the meantime, shake shack is still a huge business. A publicly traded company valued at more than two billion dollars. You may have read about how shake shack received a government payroll loan, which it promptly returned, but still caused some controversy. Danny will talk about that later in the show, but for now a little about how Danny it started. His Dad ran a travel agency when Danny was growing up in Saint Louis, so from an early age he was able to visit Europe and learn about food, which didn't immediately launched his career in the restaurant industry. In fact, after college Danny floated around a bit before he decided to apply to law school. I was never interested in law, but I didn't know what else to do. And the true story is that. The Eve of taking my lsat's. I was out to dinner with my aunt and uncle and my grandmother here in New York. And my uncle. Said I don't know what's bugging you tonight and I. Said we'll have to take my lsat's tomorrow. And he said well, of course you. Do you want to be a lawyer? And I said And he got really really mad, and he asked me probably the most pivotal question of my life which was. Do. You have any idea how long you're going to be dead. And I said no, and he said. I don't either, but I'll tell you one thing a hell of a lot longer than you're going to be alive. Why in the world would you do something you don't want to do and I said because I don't know what else I would do. And he said you gotTA. Be Kidding me, I've ever heard you talk about your entire. Life is restaurants and food. I really did love the idea of becoming a restaurateur. have any idea what that meant. And probably it was the Monday morning after that that I called. One of my best friends from college, and I said you know you know how much fun we used to have going out to eat. All the time of an Hartford I said I'm actually thinking about maybe opening a restaurant. But I need some help if I be the food guy and you be the money guy. I said I. Just found out. There's this thing called the new. York, restaurant, school. And, there's a course in reference management. Would you consider taking it with me? And he said sure and he was. He was in a bank training program at that time with US Trust. So. He took the class with me and we went through two out of the eight by the time his dad found out. And His dad? who was a very proud yearly said no son of mine is going into that awful business. So my pal dropped out, felt terrible about leaving me in the Lurch. And he said I feel so bad that I want to introduce you are bank. US Trust has exactly one restaurant client and this was an Italian seafood restaurant. And the room was called PESCA. And my interview. Consisted of the owner. Asking me to walk back and forth a couple of times, and then stand in front of him. And as I stood in front of him, he looked me. You know from my. Curly hair down to my wallabies and he said you'll to. That was my interview. It was an interview to do what. It was an interview to become the assistant lunch, manager and so. Every morning I would check in the waiters. Make sure they don their side work, and then I would type the specials in consultation with chef. And so I got what I wanted I'm curious i. mean you weren't going to PESCA TO BE? The assistant lunch manager and turn that into career. You were really going to learn the business. Because in your mind already at that point you thought I want open. A restaurant is was that. This was a very strategic decision that you were making already thinking I've got learn this completely strategic and I told my parents. That I was going to try this and. The way that I could get them just sort of take, it seriously was not to say I was going to be arrest her. But to say I was thinking about becoming chef. And my plan was. Let me. Do you know a year or so at PESCA, to see if I like it, and then after that the plan was that I was going to go cook in Italy, and in France and my dad. Agreed to connect me with one or two of his friends, so he connected me with a restaurateur in in France, and I got to work there. I got to live with the chef and. Go to the market every morning and work in two of the skies restaurants. I took cooking classes from. A. Woman, who was purported to be the Julia Child of Italy in Milan, and I also got to work. In Rome and so. Being in the restaurant business for me once my uncle opened tat that can. I couldn't get it out of my system. And it was like having a mosquito bite where everybody says, don't scratch it. Don't go into that business, and it kept itching and when no one was looking I would. See you go to France. You learn a little bit more about cooking. And you come back to the US with a plan to open a restaurant You've got some savings. And this is the mid eighties in New York are very different York than it is today. Parts of New York. People don't realize this were. Comparatively affordable to today like you could take a. Person, could take Lisa on a an ability as a matter of fact, the the place that I bought i. what I did was I just started walking. That's all I did for January of Nineteen, ninety-five Wallach but I was walking everywhere was walking. To neighborhoods and just trying to imagine. What might that neighborhood one day become and so I got to Tribeca? And, it wasn't hot pacman I got to know the meatpacking district and nobody was there back. Then I got to know the Union. Square nobody was there. And finally I walked into a What I would come to learn was a forty.
Mnuchin to face grilling about small-business lending effort
"Treasury secretary Steve Mnuchin will likely come under tough questioning today from senators about a small business lending program included in the government's two trillion dollar relief package that is given to some big name businesses like the LA Lakers lawmakers from both parties have criticized the payroll protection program which initially provided almost three hundred and fifty billion and forgivable loans to small companies but has been plagued by a host of problems most businesses were unable to get loans before the initial funding ran out and a second round of loans based computer processing delays the LA Lakers ended up giving back the money they got as did other notable businesses like shake shack after coming under fire and the number of publicly traded companies and ended up receiving money paid there is back as well after Mnuchin demanded it I'm Julie Walker
Aspen Institute says it will return $8 million small-business loan
"Two a prominent DC based think tank the Aspen Institute is returning eight million dollars it got from the feds as part of the corona virus relief package just yesterday Aspin argue the small business aid was needed to keep its four hundred thirty person staff employed the aspen institute has a one hundred fifteen million dollar endowment and several billionaires are on its board of trustees the decision comes a day after the Washington post reported the institute got the loan it joins the LA Lakers and shake shack and among the businesses that have gotten federal money and then chosen to give
Uber is discussing a takeover deal with Grubhub
"Uber. Making a bid for GRUB and shares of GRUB hub ended on Tuesday up nearly thirty percent down a little bit today but these conversations are ongoing before we get into the particulars. What what was your reaction when you saw that because mine was there are some acquisitions that in the moment you look at them and you think to yourself. Well that makes perfect sense for me. This isn't one of them. But what do you think? Well I don't know if it's something I would say makes perfect sense but I do see the connection there. I mean I certainly see why Uber would be thinking in this direction in and I think that for rub this this could be. Maybe the best way out. I mean the economics food delivery a really tough we've certainly seen that in grubs margins and financial since it's been a publicly traded company and in unfortunately it's not a market that really rewards exclusive relationships. I mean people are just looking to get their food from point. A. Point B. in restaurants. WanNa be able to do that and make sure they can rely on the partners that are delivering that food. So for me like I as I said this is not a market that rewards exclusive relationship so we saw for example when shake shack. Release their earnings here last week. They had exited an exclusive relationship. With GRUB HUB in. We're utilizing more partners. Uber eats be one of those from the restaurants perspective. You know they want to try and bring as many of those partners as they can as they can but it is it is it is. It is a market where you're certainly seeing consolidation. Almost needs to happen because otherwise it's going. It's going to be really difficult for a lot of players to be successful in space. You could see where maybe a couple of players could be successful successful in this space in. I think that with with Uber. We've always asked the question. How ARE THEY GONNA? Levers that network beyond just you know shuttling. People around in Uber eats is definitely one of the ways to do that. Uber eats is certainly performing pretty. Well I mean in in quarter one. They generated four point. Seven billion dollars in gross bookings that was up. Fifty fifty four percent from a year ago in revenues accelerating in that line of work take rates are accelerating as well so. I mean. They're seeing a lot of success for obvious reasons right now. I mean folks are are looking to have more food delivered But but I think with with GRUB HUB. This might just represent the best opportunity for the business and for shareholders because otherwise. They're going to be stuck in this perpetual battle for very very incremental prophets. Right I mean it. It is just not a super high margin business and you know for restaurants they delivery now more than ever So I think I think that will probably continue on for some time. But it's definitely a space where consolidation is starting to happen in. I actually could see grub hub in Uber getting together there in creating really a massive food delivery network that even really extends beyond restaurants right. I mean Breezes Inc Grocery for example they have I think what four thousand parts and thirty five countries with with Comey's car for for example at Cisco I mean they're leveraging that network in good ways and I think this is a sign of things that could a sign of things to come for Uber? That could be good. I mean it's obviously still hemorrhaging cash. And they're gonNA raise some more debt. It sounds like but if this is a deal that happens. It sounds like it'd be an all stock deal another kind of hemming and over the valuation. But I wouldn't be surprised to see this happen. It's funny. You mentioned that talking with our colleague Abby Malan and she's a grow up shareholder and she made it very clear to me. She's not interested in Uber Stock. She was happy to see the spike. In growth hub shares. She would much rather prefer this. Be A cash deal. Because she's not looking for Uber Stock. But it'll be interesting to say to see how the valuation shakes out here because right now with this spike and a little bit of a pullback today grubs valuation is five point three billion. They've said they would sell at evaluation of six point. One billion so that's another fifteen percent upside from. Where is here? It is and you know I mean. These companies will go through negotiations to try to figure out what makes the most sense and that's kind of Nice part about all stock transactions for the come from the company's perspective right. They're essentially just they don't have to dole out physical currency right. I mean shares are currency. But it's not really affecting their pocketbook. Investors are kind of the ones that potentially at screwed there and in. I do feel like Abbie. I agree with that. I'm not really interested in an Uber. Uber's stock today. I mean I think it's a fascinating business to follow. I'm cautiously optimistic. That they will be able to leverage that network overtime in do more things with it. But I think it's GonNa take a while in they clearly. It's GonNa take a long time for them to even achieve any meaningful profitability. So yeah I mean from from the company's perspective that all started you'll makes perfect sense from the investors perspective. Yes I'm a shareholder in this ends up happening then I get you know those. Those Uber Uber shares. For that deal. I probably would look at it going ahead and selling those uber shares and putting that money to work elsewhere. Because any way you put it I mean food deliveries just. It's just a really tough business. I mean we saw not all that long ago we're square on loaded the The caviar side of the business right I mean they. They dipped a toe in that market thinking that might be something complementary to their business. It turned out it really wasn't turns out. It's just really hard work. It wasn't something that lined up or leveraged their existing business to the degree they felt like made sense in so I think yeah I mean this kind of it makes me think a little bit of satellite radio in your head series. Xm and Yeah Sirius Radio and yet XM radio and then they merged to form the one big provider in that space. I mean I ultimately could could honestly see being just like a one or two really big providers in the space but time will tell.
Wayfair shares rocket higher as coronavirus-related store closures shift more demand its way
"Let's kick things off with wayfair the home furniture and home decor ecommerce retailer. Sheriff of wayfair twenty percent on better-than-expected revenues. Now Jason They are doing a big business in office furniture perhaps not surprisingly and cookware. Now they reported twenty one point one million active customers. That's up twenty nine percent from a year ago so that all sounds good and so. It's a bit surprising Jason for I think a lot of people when they discover that wayfair is actually losing money. So unpack all of that for us. Yeah I mean well this wayfair. Losing money is not really anything new. That's what they've been doing pretty much ever since they've been in existence but it's all for a longer term goal. I think certainly we're seeing a time like this is shining light on the advantages of the market of waivers pursuing. They aren't close for business. A lot of their competitors are in and they will be for awhile and when they reopened their competitor is going to be very limited to the traffic they can take in and they're going to be limited by the willingness of consumers to constantly go out in shop for furniture in the house and credit spaces. So you know. We're we're definitely seeing a lot of a lot of the tailwinds that are coming into play for like wayfair but to go to those numbers that you were talking about at the beginning there. I mean across the board again. The metrics that matter continued all head in the right direction so total revenue of two point. Three billion dollars up nineteen point eight percent from a year ago gross margin actually ticked up seventy basis points from a year ago. And that's important. Because the shipping and fulfillment costs are included there in that gross margin and. That's one of the bigger challenges for business like this active customers. Twenty one point one million versus sixteen point four million a year ago. Orders delivered nine point nine million up twenty one percent from year ago but the key metric here and the one we talk about every time we talk about wafers earnings repeat customers play sixty nine point eight percent of total orders in the first quarter and that compares to sixty six percent from the first quarter of two thousand and nineteen that the reason why that matters costs a lot of money to acquire those customers. Okay once they get those customers in they want to keep selling those customers more stuff and so the more they can get those repeat customers. The less they have to pay for those acquisition costs in down the road that ultimately results profitability for the business. There there yet but they're certainly getting closer. Okay I wanNA talk about another metric and that is the stock. The stock chart for Wayfair is just amazing. I would encourage. Everyone and I don't think I've ever done this on the show but I would encourage everyone to look at the year to date wayfair stock charts so at the beginning of the year in January Jason shares around ninety three dollars by mid-march Sheriff down to twenty three dollars which was around a five year. Low K ninety three to twenty three now seven weeks later shares or at one hundred and sixty box. How is that happening? What is going on with the stock that goes from twenty three to one sixty and around seven weeks? I mean you're exactly right. I mean it's been a phenomenal ride in a very short period of time. I think there are a lot of factors at play here primarily so I think when you looked wayfair we think about before. Even the corona virus concerns. Okay if we go back. Even pre cove in nineteen wayfair along with a lot of other companies they were dealing with. You may remember those China trade issues that we were batting around the headlines Seemingly every day and that was something for seemingly I think around eighteen months or something so they were dealing with that China trade problems and that matters because a lot of wayfair supply chain really does come out of China so that was a headwind then the beginning of the year. Obviously the corona virus concerns developed in. We entered this bear market in that. Killed Everything wayfair notwithstanding. I was really where you so wayfair. Just get shellacked now. We're seeing not only with the results of the companies turning in but the general markets turn. It's clear that actually wafers market opportunities. It's accelerating and that kind of goes back to what I was talking about before with all of their competition. A lot of their competition is there are closed for business right and even furthermore when they reopened they're going to face myriad challenge just to get business back to the way it was in so I think along the way here wayfair decision pretty good things I mean they. They raise some capital. They were able to pull on some money from some investors to strengthen up their balance sheet through a private placement. They did have to let go of some employees. I think somewhere in the neighborhood of six hundred people or so now. That's obviously not good for people losing their jobs but ultimately for for a business that was arguably bloated it rights is the business of the business and then I think finally going to the results. Today there were some key points that management may may call that. I think really leading to some of the enthusiasm. The one thing that stood out to me. They said I'll read this quote to you. They said I quote. Starting IN MID-MARCH. We saw pickup in both traffic and conversion with increasingly strong repeat behavior coupled with acceleration in new customer orders in. So that's like the opposite of everything women hearing to this point. We're hearing about how businesses were doing fine in January and February and then march business fell a cliff way fares basically witness witnessing the opposite
Treasury secretary says any PPP loan over $2 million will undergo "full review"
"The trump administration says it will hold accountable any company that should never see the small business payroll protection loan the Los Angeles Lakers shake shack Ruth Chris among those companies returning the payroll protection loans meant for smaller companies treasury secretary Steve Mnuchin saying hill police those that don't that any alone over two million dollars will have a full review for forgiveness before they're repaid secretary Mnuchin saying he'll add more auditors to hold companies that should not have received loans
Lakers return $4.6 million from stimulus loan program
"The Los Angeles Lakers become the latest company to repair coronavirus business relief alone this one for roughly four point six million dollars after learning the program had been depleted the NBA team said to be one of the most valuable receive the loan under the small business administration's paycheck protection program the Lakers qualified because they only have about three hundred employees but now say they want the money to go to a business most in need shake shack and auto nation also return their loans but others have kept the money the SBA revised its rules last week for who qualifies the new guidelines require companies to certify with their lender that they need the loan and cannot access the money from other sources I'm Julie Walker
Lakers return $4.6 million from stimulus loan program
"The NBA team said to be one of the most valuable receive the loan under the small business administration's paycheck protection program the Lakers qualified because they only have about three hundred employees but now say they want the money to go to a business most in need shake shack and auto nation also return their loans but others have kept the money the SBA revised its rules last week for who qualifies the new guidelines require companies to certify with their lender that they need the loan and cannot access the money from other sources I'm Julie Walker
House passes $483B coronavirus relief package
"Morning the latest corona virus relief packages headed to president trump that passed the house yesterday it is four hundred and eighty four billion dollars of aid a lot of that is for small businesses and lawmakers are already talking about what will come next Senate Majority Leader Chuck Schumer of New York is on the line with me good morning senator good morning or will appear healthy thank you Sir you too individual states need aid they're losing all kinds of revenue lawmakers are considering how to help and your Republican colleagues Mick colleague Mitch McConnell suggested that bankruptcy for states might be the best route now you seem not to agree you've made that point does he have a point about limiting how many rescues and how much money we can throw at this thing well first of all what McConnell said was so far out of the mainstream I think he's going to have to walk it back he is isolated Republican senators Republican governors have denounced him and you know he was the reason that state and local aid was blocked in the interim bill that the president signing today he wouldn't let it go forward but now that people have seen how twisted his logic or illogic is I think actually what he said has given even more momentum for state and local assistance in number four after all no well who are we talking about this is not abstract you know state government rather it's a policeman who but for police officers who patrol our streets and keep us safe it's ambulance workers is bus drivers these people should not be thrown out of work because the states are not collecting revenues and I hope McConnell comes to his senses were now turns around and helps us get state local but if he doesn't I think they'll be the momentum to defeat him as for the bigger question you asked what about dole these packages this is a crisis on like something we have never seen really in this country twenty six million people unemployed so many businesses close the number one goal is to solve the for both healthcare crisis and the economic crisis and it will cost some money there's a bit of hypocrisy coming out of leader McConnell he passed a two trillion dollar tax cut mainly for the very wealthy which did more before coded to increase the deficit than anything else so I guess deficits are okay in McConnell's ice when it's tax cuts for the rich remember they said it would grow the economy it didn't didn't mainly went for stock buybacks in the corporate side it so it's okay to do that to increase the deficit but we shouldn't help people who are out of work we shouldn't help people you we shouldn't find a testing regime which we put in the last bill which the president will sign which will help us get back to work quickly we have no national has given interesting point that senator McConnell made he said he's worried that corona virus aid would be quote a blank check down to states and local governments to spend any way they choose now we saw this with the PPP right it's supposed to be for small businesses you got shake shack you got a big steak houses getting the money how do you make sure if states and local governments get money it's being spent on covert nineteen related things when we've seen there are problems hearing how this money is being spent in other ways yes well you know we can pass good legislation but it's up to the administration to administer it now there was not enough guidance to the banks on the small business side to tell them to go to the unbanked to the poor people the smaller mom and pop shops and they gave it to these big companies that didn't need it but we corrected it in code three five were constantly vigilant so we set aside a hundred twenty five billion dollars that can't go to these companies that have good banking relationships but rather that would go to minority communities rural communities and the if you will the butcher Baker and candlestick maker the small businesses so we have to constantly stay on it the state local money that we have advocated we'll go to the unemployed people who are the people who were working were needed in their jobs but there's no revenues the state of the states are not getting any revenues because people aren't paying their taxes the federal government itself said delay taxes till June thirtieth that means state taxes are delayed as well so the R. McConnell I think is less interested in the deficit and less interested in making sure every dollar goes where it should which is something we believe in and just saying don't spend money that is not in keeping with the needs now you know is right wing Republicans didn't his his right wing philosophy says let the private sector do it at this time at this moment in time the only government can do it let's examine the carnal is isolated as you say in his belief that bankruptcy is the best option president trump has signaled that he favors what he's called fiscal relief for states when was the last time you spoke with the president well I guess I spoke with him as we were negotiating the coldest three bill and I've spoken with Steve Mnuchin who seems to be the one person who can get the president to do some things that need to be done remember in this last cope with bill all McConnell wanted to do is give this two hundred fifty billion dollars to the same program thank you and others myself have criticized it just giving money to the bank to these chains we forced him to change it we wouldn't let the bill go through and we put money as I said a hundred twenty five billion dollars walled off just to go to the on bank to see if that helps you understand president trump because it's interesting here that he seems to agree with you did you discuss with him the issue of aid to states and believes in aid to localities and has said that he would do it in cold but for I mean as I said on is have you seen recently from president trump I'm just here let's talk about how real this is well commitment from president trump come and go but we can force it to happen in the covert for bill and I think there is enough bipartisan support despite what McConnell did to get that done the president you know sometimes doesn't focus yesterday we seem to have a quack medicine salesman on television he's talking about things like disinfectant in the lungs we've given him a testing we forced him now to come up with the national testing regime we need tests in this bill we've given twenty five billion dollars to do it eleven billion to the states so they can do some of the testing and the contact tracing of money to the fed so they can set up a supply chain so that we can actually manufacture enough tests and swabs and everything else that's needed we improve things greatly in this three part bill and now we have to we can't force the White House they are there under our constitution they execute the laws we can do oversight we can prompt them we can push them we can improve the legislation but we need real focus in the White House on what needs to be done instead of talking about disinfectant the president should be talking about how he's going to implement testing which every expert says is the quickest path to get us moving again do you have concerns about how much money is being spent and what it means for the national debt and I'm sorry we just have seconds left yes are you think that it's something that we will have to grapple with down the road
US issues new guidance for small business loans, pressures public companies to return funds
"Payroll the U. S. also issuing new guidance for small business loan so they're making it harder for public companies to get the funds they've been they've been a little bit of embarrassment about some very well capitalized publicly traded companies taking loans that are really meant for the small to medium size business course have shake shack's saying we're going to give back the money we had borrowed you have you have a multiple colleges saying they're not going to take money now so because they have big endowments they can weather the storm so that that program is moderating by the day
Chicago's Potbelly to keep $10 million loan in paycheck protection
"Pot belly says it's keeping the money here's WGN Steve Bertrand pot belly scored ten million dollars in the first round of the paycheck protection program loans it as thousands of employees but through a loophole it was able to qualify for the aid which was meant for companies with fewer than five hundred workers shake shack gave its money back but pot belly says it won't do that it says every penny will be used to support its
Angry small businesses: Shake Shack gets money but we don't?
"Ruth's Chris steak house harbored in the burger chain shake shack just a few of the big entities the cut payroll protection program money using a loophole while many small business owners left with nothing in the program ran out of cash shake shack is now returning it's ten million dollar government handout the very people who see the needed aren't getting it as soon as we get understand that we have other access to capital we had the opportunity to take care of our company for the long term we are returning our ten million Czech Czech CEO Randy Garutti on
Under Fire, Shake Shack Returns $10 Million in Small Business Funds
"Big news yesterday. Burger chains shake shack is returning. It's ten million dollars. Pp loan that people of course is short for the payment protection program. That's part of the Federal Government's cares act. It was touted as a bailout for small business. The low interest loans forgivable if at least three quarters of the money is used to keep workers on payroll but a number of large publicly traded companies including certain shake shack managed to get multimillion dollar loans before the program ran out of funds last Thursday that angered millions of owners of considerably smaller businesses. Who were locked out of the program? Here's what happened. The PPI was intended for businesses with fewer than five hundred employees. The Small Business Administration's definition of small business but it included a clause that allowed companies with multiple locations to apply as long as there were fewer than five hundred workers at each location shake. Shack is public company. Employing eight thousand people across close to two hundred stores in the US. It's valued at one point. Seven billion dollars according to Forbes but fewer than forty five people make burgers and fries at any single shake shack store that's far below the PP's single location cab. When the program was announced the company had already furloughed or laid off about one thousand workers so shake shack applied for the P and it turns out. They weren't the only multimillion dollar company to do so other applicants included. Ruth's Chris Steak House. Three hundred million dollar cruise line and four hundred million dollar data storage company and that's created a big problem for small businesses. According to Bloomberg two percent of the firms approved for loans got thirty percent of the total funds Solo preneurs and small businesses faced with the prospect of going out of business permanently. Were furious to learn that more than a dozen public companies with revenues greater than one hundred million dollars had received portions of the funds leaving little for them according to Bloomberg four inches. Ruth's Chris employs almost six thousand people. It's sales topped half a billion dollars. Last year. It received twenty million dollars in P. Money. Four hundred million dollar pot belly corporation chain of sandwich shops also employs six thousand people. It received million dollars in the low interest funds. Bloomberg's Ed but shake shack has since apologized for applying for the loan in an open letter. Sunday. Owner Danny Meyer and CEO Randy. Rudy said the. Pp's initial guidance was confusing. They wrote quoting here. The best chance of keeping our teams working off the unemployment line and hiring back are furloughed laid off employees would be to apply now in hoped things would be clarified in time close quote. They were losing more than a million dollars a week. At that time last week the company was able to sell equity on the public market and raise one hundred fifty million dollars as a result Meyer. Garate decided to return their peop- funds quoting again so that those restaurants who need it most can get it now. They said in a statement. They acknowledged their good fortune and having access to other funds and said until every restaurant that needs it has had the same opportunity to receive assistance. We're returning hours. Well responses ran the gamut from laudatory to highly critical some observers praised owner Danny Meyer is noble and pledged to be lifelong customers others were livid saying restaurant. Chains should never have applied in the first place. It'll take time to see whether public opinion will tilt toward shake shack or against it. However the company's actions received a hearty congratulations in one place by Monday. Evening it stock was up seven percent. In contrast. Ruth's Chris fell seven percent. Potbellies was also down by yesterday afternoon. No other major restaurant chains or public companies had stepped forward to follow shake shacks lead
"shake shack" Discussed on The Daily Zeitgeist
"Everybody ovech. Kindly go back to your homes. Now now the people are kind of looking at how that money was. How that milkshake God drank up my right to. Go Way back. Yeah, we. Are Looking at. It seems like we're GONNA. Get some hopefully a little bit of accountability. I mean yeah especially with a company that's doing like why total revenue into fiscal year two thousand and nine, thousand, five, hundred, ninety, four and a half million dollars is what shake shack was generating. And what somewhere around twenty million or so on prophets? Yeah so. It's like when you see certain things like that and you're like you look at the places where the hit can happen. It's like well. Yeah, you can absorb. Some of you can absorb this. Other people have smaller businesses are not dealing this kind of volume of revenue or transactions. It's completely different. Yeah, I think I don't again. This is why we we keep running into this especially with this administration and just the way the American government is but like. This is just such a clear case of just the utter lack of accountability oversight anything that were. Almost like people should be like. Hey, can we all agree that? Maybe ten million dollars shouldn't go to shake shack I and maybe to these other people who are trying to get on the P. Website and they're like oopsy Oughta Miami I'm no. They're trying to reauthorize more money for that, but it's just like when you read stuff like this just makes you angry. At the same time I mean it's it's tough, because if there are shake shack employees who they are not going to be able to get a paycheck, but it does seem like. Shake Shack should just be able to absorb it hopefully I mean. That's sort of a narrow margin but it's still enough to hopefully pay. I mean boy you see like. I hear in read about a lot of business owners who are not dealing with anything close to this kind of scale for their business. What are doing things like this to be like whatever like all-south, immolate this business and completely burn it down if it means like eating into all of our anything, we have towards the future like just frankie, everything going and that's. I. Get it like at a certain point. Is that the most practical thing to do in terms of a business owner, but there are other people who are just sort of like trying to do it within what makes sense like okay I think we can operate our business at this loss this year, or whatever and long-term no will will be able to grow a little bit more in order to subsidize the survival of our employees And Yeah, just you. It's nice to see that, but it's also like those kind of sacrifices. Sometimes you feel like those aren't the people who should be having to make those sacrifices either. And finally speaking of. Sacrifices people are unwilling to make protests lockdown. People. Continue to protest around the country against. The quarantine against the social distancing procedures by getting out getting in people's faces in some cases heckling healthcare workers. In some cases just generally indicates a dark path that this whole thing could go down if the president continues to protest against. The government, the head of the government continues to protest against the government. Yeah I it's. I. Don't know what the fuck did i. mean again, the Ash the details in. Evidence and markers, of ASTROTURF, ING are all over a lot of these protests. As, they happen all over the country, and like these really small groups. And it's again. A lot of these people don't give it's don't be mistaken. These people don't care because they're trying to save the economy or whatever they're very narrowly probably in their minds, even though they don't realize there are billionaires helping to fund, this are saying like man. I should be able to do what I WANNA do. Or maybe I'm want to put people who are essential workers at risk because I. Typically they're in a different socioeconomic class or A bird or different ethnicity, but with when you look at the Kinda Shit that they're protesting. It's really just the fact that it's like I want to go back to the movies I want to go back to the store. We go back to work so I. Don't have to do anything different now. This is fucking boring. When really the protests I hope you know it should be people protesting on behalf of like working people and essential workers, and you know demanding that we changed the way we are living and operating as a country whenever we quote unquote. Go back to whatever the fuck that is. Yeah, it'll be interesting when the books are written. Who to see how these protests. Organically quote unquote came about I. Don't know seems smells awfully cokie to me. But? We'll see a lot like plastic crash. last rotor may be. Just head to underline that in case people get your. All right when I say tops very clearly. all right that's GONNA. Do it for this Monday this four twenty Thanks again for joining us. Please stay say good to each other. Wash your hands and We'll be back tomorrow with a whole new test touches.
Big Companies Got The Small Business PPP Loans
"Of the provisions designed to try to make main street survive this very tough cycle we're in was SBA funding through two vehicles one the payroll protection program the more popular one and the other disaster loans that were modified from being for hurricanes tornadoes quakes to be for the corona virus situation businesses find themselves in in both programs crashed and burned but now as Congress goes through the procedure of adopting the fourth corona virus stimulus law and new funding in there for hospitals for the important testing. We're not doing in. The United States see has corona virus. Or who doesn't and to give huge amounts of more funding to the payroll protection program. That ran out of money really fast. I need to tell you what's unbelievable. I mean this is a scandal extraordinarily from an industry. That just seems to not care about having a terrible public image. And that's the nation's large banks there are now multiple lawsuits plus unbelievable. You want to read. What's been going on? Unbelievable write ups and Barron's magazine and in the Financial Times of London about how the banks conspired with big publicly traded companies and large privately held ones to scarf up the initial three hundred forty nine billion dollars so that it would go to big companies instead of the small now. There are a couple of theories why the banks did this. Wine is that their most important relationships at a big bank. One of the four giant monster. Maga's or what are known as the super regional banks that together make up the twenty largest banks in the country and account for roughly eighty percent of banking in. The United States is that they were trying to preserve relationships with who really mattered to them which were publicly traded companies in large privately held. Wins another theory that will be tested. It's part of a number of lawsuits that have now been filed against chase and Wells Fargo and Bank of America and a number of other banks is that they had calculated under the pay more payroll protection program that they would get a lot more money into the bank with the five percent loan origination fee if they set up their systems electronically to only process the largest loans because the largest loans would generate. Since it was a flat percent fee they got it will generate the largest fees for the banks as these cases work through the courts. We'll see which was the real cause but unbelievable that banks helped publicly traded companies and large private ones work through loopholes in the hastily drawn payroll protection program to steal all the money from small businesses. That it was designed for and I hope that the public exposure of this horrific horrific behavior by the banks will lead them with the new money coming in that they will behave this time. And do what's right for America instead of what just pads their pockets. So we'll see how they behave coming forward. Part of the fourth stimulus. Bill is that nine traditional players are going to be able to make loans to small rural businesses and small businesses in urban and suburban areas of the country that were shot out by this apparent alleged banking conspiracy to cheat small main street businesses mom and pop businesses out of payroll protection program money. So I'M GONNA keep a focus on this because what's happened is inexcusable. In a national pandemic and the fall out from the economic problems and one company so worried about its public image. Did the right thing after doing the wrong thing shake shack is giving back the ten million it got pretending to be some tiny local small business and public pressure exposure of others that used loopholes to steal money from this program that was designed to go to small privately. Held businesses should follow shake shack. And Say Hey. This was our bad. Here's the money back. Lend it to businesses that the program was intended for and we'll see over the next week if businesses that cheated the system game the system. Do the right
"shake shack" Discussed on Pro Rata
"Nexus program where we take the sentiment smarter on the Tech Business Politics. I'm Deborah back a today show. Why dropbox paid people to hack zoom in Silicon Valley tracks? Covert nine thousand nine but first shake shack serves up. Its loan okay. So let's start this with a confession. I have never eaten at shake shack. Not Intentionally. But it's kind of remarkable. Given how ubiquitous the burger chain has become with nearly one hundred ninety locations inside the US including one. Not Too far from where I live anyway. That ubiquitous nece size is one reason. Why many social media commenters got up in arms last week when it was revealed shake shack received ten million dollars through the paycheck protection program or which was the part of the federal stimulus designed to provide loans to small businesses? So they could keep employees on payroll and pay things like utilities and rent not only to shake shack not feel like a small business but plenty of legit mom and pop shops got shut out when the initial three hundred fifty billion dollars ran out in the middle of last week now to be clear. There are no allegations of fraud. Here shake shack legitimately qualified for PC loan thanks to an exemption written in there for big restaurant and hotel chains but some argue. It violated the spirit of the law. What's new is that on. Friday shake shack managed to secure one hundred fifty million dollars in new capital. The alternative means and this morning announced. It's giving back it's PPO loan all ten million dollars a decision that Treasury Secretary Steve Mnuchin praised via twitter. So let's dig into that. Give decision with shake shack founder and Chairman. Danny Meyer who's also. Ceo of a separate restaurant group called Union Square hospitality. So Danny can you start with the reason that shake shack applied for the PC loan in the first place. What was the idea of what that ten million dollars was going to allow you guys to do was the same thing for shake shack would be any restaurant whether it's a mom and pop bakery or a fancy restaurant or a chain or whatever which is try to keep as many people employed for as long as possible if there's viruses taught us anyone it's the there's no restaurant in the country that is not unsinkable of back that we all had to close immediately because the very thing we do bringing people together as the very thing that is most dangerous thing you can do has brought everyone to their knees and so when the government issued the care package with key? P P plan it was a good thing and the right thing to do was to apply for the challenge came last week when it was made clear that the government had run out of money and so many really really small businesses that were not even getting their applications accepted? It just didn't feel like the right thing ultimately once we learn that to keep the money and so we made a top choice but the right choice to return it. You think you guys had an advantage getting your pc loan because you are large organizations Scott Finance functions and CFO's a lot of people who could get the paperwork together really fast plus kind of big existing relationships with banks as opposed to say a mom and pop or small restaurants or who might not have all that back office. There's absolutely no question in one of the things that you know when I co wrote with Randy. Rudy is the CEO Shake Shack. We wrote a piece last night which we set out on Lincoln and twitter. We made that case and we said look. The notion of getting restaurants back on their feet is crucial to the entire economy in this country. And it's not trying to pit one restaurant against another one size against another but it's very very clear that in order for the P P P plan to work not only does it need to have much more funding. But you can't make it impossible for a restaurant just because they don't have a pre existing relationship with a bank. You can't make it impossible for them to get in line. And so one of our suggestions for the next round of funding is that the government if they're going to be using banks to do the funding which is great is to assign a local bank for every business that is eligible so they don't have to climb mountains just to even get in line. I mean imagine if you were trying to get a driver's license but the only way you could get line was driving car to the DMV but you're not allowed to drive a car yet because you don't have your license that's kind of what this was like for people. You obviously have two different companies shake shack in Union Square Union Square. Which is much more kind of sit down higher and restaurants for the most part. Can you give us a sense on the shake shack side? What is meant for business in terms of kind of fall off of traffic? Obviously I could still go get a burger and fries and a bag but what does this actually meant? It's hurt shake shack business just as much as anyone else shake shack on. The other hand has a team of people who have been willing to keep almost all the restaurants open because they shifted to a fulltime model of curbside pickup and or delivery or actually having a burger shipped on goal belly to people across the country so shake shack has been able to retain some of its revenue sources but operating is still a loss right now and so you know I think one of the things. People don't understand about restaurants is that you need. The margins are thin enough. You need to be pretty much operating capacity relative your fixed costs and so I think getting back to your first question. I think shake shack. Absolutely did the right thing to apply for the loan but when it was clear that this program was not funded adequately and the other businesses that didn't have access to banking and capital markets. Were being shut out that it was absolutely the right choice to return those lines and I'm really proud of the team. For arriving at that conclusion there was two parts of the cares after that involve loans to businesses there was the PCP and then there was this kind of middle market. They call the middle market lending program which hasn't been completely defined but that was for companies with more than five hundred employees. And obviously as I said in the intro which you weren't done for you you guys applied for in part because there was an explicit carve out for large restaurant chains and large hotel chain p. Why they'll go for that. As opposed to go for one of these bigger loans for larger companies you guys theoretically could have applied for that. Too correct yeah. I can't really answer that question because I don't know enough about the main street fed loan program and I think that has been so much confusion. These acts are literally being written in real time and digested in real time restaurant companies. And I think that the P P P Cram was released. If I'm not mistaken sooner than the main street low ram and so that's what shake shack applied for. It was explicit in the program that you should apply as a restaurant if you have fewer than five hundred employees per location. Which of course is just about every restaurant in America. I don't think I've ever been to a restaurant with five hundred employees per location. I wonder the decision you guys may today to give back the loan. Do you believe that's going to put pressure on other large restaurant chains that have been mentioned in the same breath shake shack over the past week to do the same? Your status is that we've had most of our loans but not all of our loans approved. We need them. And we don't have the means to go capital markets and sell off a portion of our company in order to raise money and with respect to private equity. It's true that we have private equity investors. You're are minority investors in the company. Our employees need this help. We've laid off two thousand people we've closed all of our restaurants. We had no revenue this point at Union Square hospitality. And we're doing everything we possibly can to get to the other side of. This can get our places back open so that we can rehire people. And that's what the P plan was established for. Danny Meyer shake shack. Thank you so much for joining us. Thank you my final. Two right after this axiom. Chief Technology correspondent Dana Free shares breaking news and analysis on the most consequential companies players intact from the valley to DC subscribed to get smarter faster at sign up. Dot AXIOS DOT COM. And now back to the podcast now for my final two and his dropbox which in two thousand eighteen began quietly offering rewards to hackers to find vulnerabilities in the code of video conferencing giant Zoom. That's according to the New York Times. Which has dropbox was worried? That the security holes could compromise drop boxes own corporate security given its internal reliance on zoom. Why it matters is that while zoom security issues didn't become well known until after became America's Newsy Tilleke. They aren't actually knew like finally facebook. Ceo Mark Zuckerberg and Instagram co-founders. Kevin System and Mike. Krieger aren't exactly pals anymore but they do seem to share an interest in tracking corona virus. Sucker burks facebook today unveiled county by county maps of people with covert nineteen symptoms and plans to update them daily. It also hopes to expand globally would serve as the wash later this week. The idea is to create a tool for public. Health officials and government officials the better make decisions on how to reopen schools and businesses plus how to allocate scarce medical and testing supplies the Instagram co-founders meanwhile launched called rt dot. Live which is a tracker of how fast the virus is spreading in each state like what facebook is doing. This data could help inform government decisions. It sounds kind of like these. Two groups should consider a merger again and were done vic. Thanks for listening. It's my producers. Tim Show Ami Shaven have a great Patriots Day for those of you in Massachusetts and a great upside down cake day for everyone else. We'll be back tomorrow with another pro podcast..
"shake shack" Discussed on MarketFoolery
"I'm Chris Sale with me in studio from -Em Funds Bill Barker. Thanks for being here. Thanks for having me. It's hot hot. IPO Day we've got three companies reporting earnings. All three were companies of intense interest when they went public. Doesn't mean all the. IPO's were great but two of them were from this year alone. We're going to start with Uber. Uber's third quarter report. They lost a billion dollars. There were other numbers too but shares are of Guber are down more than eight percents. I'm assuming it has something to do with the fact that they lost a billion dollars in ninety days probably has a bit to do with that They are growing rapidly. Still thirty percent topline growth. They'd like you to look at that number. But the market is looking at the bottom line instead which ends up not being fair fight right For her for Uber. Because it is just gonNA keep talking about the top line It is saying well we can be adjusted EBA positive by twenty twenty one which is a lot of Christmas I was just GonNa say there are a lot of caveats that come with that. Yeah a couple of years out if you don't look at EBA which is not looking at net income but you look at justice but Then and you squint real hard. You'll see that we look like we're not losing money years from now in this world and then the market has looking at the fact that tomorrow the IPO Lockup expires wires. And so you've got a lot of new shares available for sale and so I think that maybe some of today's selling has something to do with wanting to get out before more people people get out tomorrow. Yeah I think I've made this point before it's a little bit like In your personal life saying don't judge me by my looks. Judge judge me by adjusted handsomeness because on an adjusted handsomeness. I'm pretty close to Brad Pitt. If you adjust if you just just straight up deluxe no nowhere near that but adjusted handsomeness sure vested future from the six hundred twenty one. Look really when we're both dead. Exactly just as is good. It's interesting we're GONNA WE'RE GONNA come back to this with with Peleton. It does seem like we are absolutely at this point with the market right now where there are a lot of investors and a lot of them are probably institutional investors who are not willing to put up with things that they were willing to put up with six months ago twelve months ago. And so- Uber saying look we're growing top line that's fine but that's the less interesting to us than it was last year. Yeah I think that you've always got a large chunk of the market which is going to be a value investors person who always care about earnings and then you've got the growth investors who are excited about the top line growth Maybe more so than than the bottom line and but there are a lot of other companies out there that are growing the top line in a very healthy manner as well and so- Uber's presentation that hey we can grow the topline at thirty percent blitz. Not Look at the bottom line is up against many companies Largely in the software space that are growing Both at the top and bottom line by impressive amount so UBER's growth story is in competition with Profit growth stories. And that's not a good A fight for it to be having. I'm sure there are some growth investors who look at the drop in over today and say well. It's down eight percent. I like this even more because I'm willing to hold it for five years. Are you one of those people. I've seen a couple of ANA analyst reports talk about Sort of dropping their target price but still having a target price around double of what the current share price is so they're focusing hissing on. Hey the 2021 adjusted able to profit. Maybe that doesn't sound to you but we were thinking it was gonNa take even longer till twenty twenty three are`maybe so today's news to us and we're willing to tilt our head a little bit and squint at look at the numbers in the way that hoover would like us to look at now. Maybe that's because these analysts are looking at Uber's need for financing in the mid to near near term future. Maybe they need to raise more cash and bonds to cover all these sales Sorry these losses so you know they might want to be on Uber's good side you always have to Season Your analysis of Wall Street's Work with that perspective But you know the growth with is impressive. Uber Someday could PULL BACK ON. How many different businesses? It's losing money in and Dan probably come up with a a quicker profit Gross story than is presented so far. And you know maybe that's something to hang your hat on still trading below Oh the IPO price. Let's move on to shake shack. Yesterday there was a headline I saw the headline was will shake shack spectacular. Twenty nine thousand nine hundred. Continue with its third-quarter report and the answer appears to be a resounding no because shake shack down twenty percent today. The same store sales in the third quarter came in two percent. That's only half a percent lower than what was expected. But I think to go back the headline it actually has been a very good year for the stock and shake shack has sort of moved into this category as business. Maybe we're not expecting perfect results for them but in this environment if they're gonNA miss than we're taking some money off the table. Yeah a lot of things to to say about this one One focus on that headline as to what was spectacular. Was it shake shack business year or the stock year the stock year had been spectacular and one wonders why to that degree. And if you look at a chart of shake shack it's one of the companies that I like to refer to as stock having visited lots of different interesting places Zeus and it skyrocketed after its IPO. Got Up to ninety ninety. North of ninety came down to thirty thirty. After that. You know back up to you. Know close to ninety again and now it's at sixty some And if you look at the actual operations it's it's a fairly smooth growth story With just doesn't have quite the highs and lows that the chart would suggest and and the prophets it's trading at one hundred times earnings so it's same store. Sales are two percent yes it can open a bunch of stores but why are people paying a hundred times earnings for this company. I think they're asking themselves that you know. Based on the twenty percent drop in the doc today and even with the drop that we're seeing today the stock is still up around fifty percent year to date so it is interesting though. Because you're right this this is not a business that has been what I consider to be overly aggressive with their expansion plans. They've been pretty steady with it so I'm not really sure why they are afforded the multiple they're afforded. I assume at least part of it has to do with a decent concentration of of its locations in New York City. Possibly that had possibly having captured because of that Some of the financial Media's attention I mean the amount of Mentions that shake shack on something like CNBC. In proportion to the size of its business is fairly odd But it's Good Growth Story. It is actually profitable As it should be given its size and the business that it's in but one of the problems with this report was it reference that it is moving from using a number of different delivery services to only using GRUB and that that is going to impact sales to to the downside which makes one wonder. Just how much is grub hub offering shake shack back to be the sole provider of delivery services for shake shack. How much is that worth it to shake shack to sacrifice some additional sales? Because they must be getting a pretty sweet deal from GRUB and you look grubs stock price. You'll see that it must have gotten into a lot of bad deals because it's it's going nowhere. Sure Yeah I think this is something to keep an eye on just from the standpoint of whether it's twenty twenty or their after be on the lookout for one one of these two companies being quick to announce we're no longer part of this deal You've got to wonder you know what what is in it for shake shack because they are highlighting that as something which is certain to create uncertainty about the rest of the years sales seem store sales and uh which by the way they lowered guidance for that for the full fiscal year. As well right. So they're in part because they're just going to be delivering and selling less because they're in a number markets I think rub is very dominant in New York But not so much in many other markets where shake shack needs to have it's delivered delivered and if people can't get it delivered through their preferred of vendor than they may just not be getting anything from shake shack You know at the margins Emmy and springing same store sales down one point five percent or something is the guidance I mean there are fairly small increments that this is moving around by but it is moving as it always has the stock much more than the business itself Peleton interactive issued. Its first report as a public company. The Peleton reported a loss which I can't imagine is surprising to anyone Their revenue however more than doubled year over year which is similar to Uber. That's the thing they'd like you to focus on they would and it's I think easier story to buy in terms of just. Just look at how fast we are growing right now and look at how many things we could pull back onto create profit. If that was what was most interesting to us in our board and the CEO Stated and tried to sell that Profitability is not something that they are focused focused on a as they are exploring and growing in international markets and and putting more money into rnd. And if you've got a subscription model like they do you can have some reasonably reliable of future revenues So it's not taking the same kind of hit Some of these he's other things are But to go back to I think the overall point hey growth is good. What about profitable growth? If you can't deliver that plenty of investors are willing to look at profitable growth stories. Well I find it interesting. That Peleton is investing in the ways that you mentioned and yet John Foley the CEO on CNBC. This morning said that they were contemplating doing a super bowl ad and they decided not to do it. And I'm paraphrasing. But he said something to the effect. We didn't think that would go over so well in the current climate and I thought you know what what you're absolutely right because that's not necessarily the kind of investment I think is really going to meaningfully drive Peleton And much better that they're making the investments that they're making so another thing that he said In the conference call. I think were or sometime sometime around. Then was that the Fully described the market reaction after the IPO as quote a perfect storm of being locked into all all kinds of buckets that were unfortunate and wrong and my response to that is this is yet.