Starbucks (with Howard Schultz)

Starbucks. You’d be hard pressed to name any brand that’s more ubiquitous in the world today. With nearly half a billion global customer purchases per week across its stores and 3rd party retail channels, a significant portion of the human population gets their daily fix in the green and white paper cup. (Including our own Ben Gilbert who famously enjoys his daily spinach feta wrap. :) But it wasn’t always this way. Long before the frappuccinos and the PSLs and the cake pops, Starbucks was just a small-time Seattle roaster that only sold beans — and was started not by Howard Schultz but rather the guys who later ran Peet’s (!). Starting from six tiny stores when Howard took over in 1987, this quirky coffee company named after a character from Moby Dick has scaled to nearly 40,000 locations worldwide. Today, in a first for Acquired, the protagonist himself joins us as a third cohost to tell the whole story of Starbucks. And Howard is in the perfect moment to do this — after three separate stints as CEO he’s now retired, off the board of directors, and in his own words “not coming back.” So place a mobile order (or not! as you’ll hear Howard speak about), sit back with your own favorite Starbucks items, and enjoy. Sponsors: Many thanks to our fantastic Season 14 partners: J.P. Morgan Payments* https://bit.ly/acquiredJPMP5yt ServiceNow https://bit.ly/acquiredsn Pilot https://bit.ly/acquiredpilot24 The Biggest Thing We’ve Ever Done: San Francisco. September 10, 2024. Mark your calendars. http://acquired.fm/sf Links: Howard’s letter “The Soul of a Brand” https://www.linkedin.com/posts/howardschultz_the-soul-of-a-brand-activity-7169073767615332352-ONbX/ Worldly Partners’ multi-decade Starbucks analysis https://worldlypartners.com/starbucks/ Starbucks S-1 https://www.scribd.com/doc/11801030/Starbucks-IPO More Acquired: Get email updates with hints on next episode and follow-ups from recent episodes https://www.acquired.fm/email Join the Slack http://acquired.fm/slack Subscribe to ACQ2 https://pod.link/acquiredlp Check out the latest swag in the ACQ Merch Store! https://www.acquired.fm/store *Future capabilities of biometric payments are under development; features and timelines are subject to change at the bank’s sole discretion. Note: references to Fortune in ServiceNow sponsor sections are from Fortune ©2023. Used under license. Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions. © Copyright ACQ, LLC

Ben GilberthostDavid RosenthalhostHoward Schultzguest

Jun 4, 20243h 15mWatch on YouTube ↗

EPISODE INFO

Released: June 4, 2024
Duration: 3h 15m
Channel: Acquired
Watch on YouTube: ▶ Open ↗

EPISODE DESCRIPTION

Starbucks. You’d be hard pressed to name any brand that’s more ubiquitous in the world today. With nearly half a billion global customer purchases per week across its stores and 3rd party retail channels, a significant portion of the human population gets their daily fix in the green and white paper cup. (Including our own Ben Gilbert who famously enjoys his daily spinach feta wrap. :) But it wasn’t always this way. Long before the frappuccinos and the PSLs and the cake pops, Starbucks was just a small-time Seattle roaster that only sold beans — and was started not by Howard Schultz but rather the guys who later ran Peet’s (!). Starting from six tiny stores when Howard took over in 1987, this quirky coffee company named after a character from Moby Dick has scaled to nearly 40,000 locations worldwide. Today, in a first for Acquired, the protagonist himself joins us as a third cohost to tell the whole story of Starbucks. And Howard is in the perfect moment to do this — after three separate stints as CEO he’s now retired, off the board of directors, and in his own words “not coming back.” So place a mobile order (or not! as you’ll hear Howard speak about), sit back with your own favorite Starbucks items, and enjoy. Sponsors: Many thanks to our fantastic Season 14 partners: J.P. Morgan Payments* https://bit.ly/acquiredJPMP5yt ServiceNow https://bit.ly/acquiredsn Pilot https://bit.ly/acquiredpilot24 The Biggest Thing We’ve Ever Done: San Francisco. September 10, 2024. Mark your calendars. http://acquired.fm/sf Links: Howard’s letter “The Soul of a Brand” https://www.linkedin.com/posts/howardschultz_the-soul-of-a-brand-activity-7169073767615332352-ONbX/ Worldly Partners’ multi-decade Starbucks analysis https://worldlypartners.com/starbucks/ Starbucks S-1 https://www.scribd.com/doc/11801030/Starbucks-IPO More Acquired: Get email updates with hints on next episode and follow-ups from recent episodes https://www.acquired.fm/email Join the Slack http://acquired.fm/slack Subscribe to ACQ2 https://pod.link/acquiredlp Check out the latest swag in the ACQ Merch Store! https://www.acquired.fm/store *Future capabilities of biometric payments are under development; features and timelines are subject to change at the bank’s sole discretion. Note: references to Fortune in ServiceNow sponsor sections are from Fortune ©2023. Used under license. Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions. © Copyright ACQ, LLC

SPEAKERS

Ben Gilbert
host
David Rosenthal
host
Howard Schultz
guest

EPISODE SUMMARY

In this episode of Acquired, featuring Ben Gilbert and David Rosenthal, Starbucks (with Howard Schultz) explores howard Schultz reveals Starbucks’ origin, growth engine, and current challenges Ben Gilbert and David Rosenthal interview Howard Schultz to trace Starbucks from a 1971 Seattle bean shop (influenced by Peet’s) to a global “third place” with tens of thousands of stores and a powerful loyalty/app ecosystem.

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