Thread by @trengriffin

Charlie Munger: “There are all kinds of wonderful new inventions that give you nothing as owners except the opportunity to spend a lot more money in a business that’s still going to be lousy." "Nothing sticks to the ribs of owners."

Is there a barrier to entry for fake meat?

Memphis Meats, MosaMeat, SuperMeat, Integriculture, Aleph Farms, Finless Food., Avant Meats, Balletic Foods, Future Meat, Appleton Meats Higher Steaks, Beyond Meat, LightLife Maple Leaf Foods, Field Roast, Impossible Foods, Kellogg’s Morningstar Farms, Turtle Island Foods...

"Eight brokerages cut their price targets" *after* the stock went down.

"Beyond Meat said it co-created the patty in McPlant, but could not provide any further details, leaving analysts puzzled as to how much Beyond Meat could earn from the tie up." reuters.com/article/busine…

Munger: "Many markets get down to two or three big competitors—or five or six. In some of those markets, nobody makes any money to speak of. But in others, everybody does very well."

"If I decided I had to have 60% of the market, I'd ruin Kellogg..." theinvestmentsblog.blogspot.com/2014/09/munger…

Few businesses know the importance of "wholesale transfer pricing power" better than MCD:

“delicious plant-based burger crafted for McDonald’s, by McDonald’s, and with the kind of craveable McDonald’s flavor our customers love.” corporate.mcdonalds.com/corpmcd/en-us/…

cnbc.com/2020/11/09/mcd…

"And I say, 'Hey, Ronald McDonald , hey, how about a little something, you know, for the effort, you know.' He says, 'Oh, uh, there won’t be any money, but when you go through the drive through you will receive total consciousness.' So I got that goin’ for me, which is nice."