Years ago, I had a case in Orange County California and was working out of local counsel's office in Hollywood. I'd never heard of Starbucks. So my local counsel and I were walking to the office and stopped by this new coffeeshop. I ordered a cup of coffee. I was confronted with do you want Latte, Frappe, or whatever, and I said I want a cup of coffee. Then they started with do you want Grande, whatever. I said I want a cup of coffee, black. They charged me five bucks, which at the time was five times the going price even in California.
My local counsel told me they were going public and I told him they would never make it. Another of my dumb stock picks. Just like when I rejected Yahoo's IPO. Now assets, no business or even a viable business plan, just an idea. Well that doesn't seem to matter anymore.
Lavaca, I can relate. In the early 60s, my dad who played the market usually successfully invested highly in a new product called "Mountain Dew" soft drinks. He had the odd thought that it might be legalized moonshine. Anyway, he got angry + acted too fast; dumped all the stock + you can imagine the stock value now. He usually made good decisions but that one was a bomb.
Originally posted by Saeed: I can categorically say the worst coffee I have ever had was Starbucks!
A friend of mine explained their business model to me many years ago. Apparently, they purchase coffee remnants from suppliers all over the world. They then over roast the beans to blend the tastes.
Many years ago after my divorce, I was set up by a mutual friend with a lady who was wanting to start a coffee business. We went to several places but my most memorable was a huge warehouse in south Austin that is stacked to the ceiling with 100 lb. burlap bags stacked to the ceiling + a commercial grinder going off in the corner; + the smell; OMG, it was Heaven.
