Share this page!

Tren Griffin Profile picture
Twitter logo
8 Aug, 4 tweets, 2 min read
1/ This below isn't the hardest question.

Instead: Is it possible to offer more nutritious food than MCD *at scale* with similar return on investment?

The answer is in existence proofs. What do the numbers say?

The Sweetgreen S-1 will be revealing: labusinessjournal.com/news/2021/jun/…
2/ FYI, I am currently on a Sweetgreen style food consumption regime and I don't have the necessary interest or patience to discuss ESG issues and ask that replies be limited to unit economics and ROIC at this time (ie, I'm cranky about food issues right now). Thanks in advance.
3/ I have many fond memories of being the lunchtime entertainment at a Monday Benchmark partners meeting. The food was extremely healthy and tasty. The conversation was amazing too. If I ate like that at every meal I would not be on a Sweetgreen style dietary regime right now.
4/ I should add: I was a regular participant in Benchmark's in office dining/snacking between 1999 and 2001. The food was delicious then, but not as healthy as now. Before that more recent partner's lunch, both @amiefineberg and @bgurley warned me: "The partners eat healthy now."

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Tren Griffin

Tren Griffin Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @trengriffin

Tren Griffin Profile picture
8 Aug
1/ What business is this? As you know, this is my favorite S-1 chart.
2/ "Liquidity and Capital Resources:

Since its inception, the Company has funded its activities almost entirely from funds generated from operations. The Company’s cash and short-term investments balance at December 31, 1985 was $38.2 million."

Bootstrapped.
3/ lannigan.org/pdf/Microsoft_… Clue:
Read 4 tweets
Tren Griffin Profile picture
8 Aug
1/ In a recent podcast I predicted that SpaceX and other space operators would continue moving the industry from a horizontal to a vertical structure, with businesses moving up the stack into providing new services. Increases TAM and hopefully margins. tesmanian.com/blogs/tesmania…
2/ "One of the ways to create enough demand for [SpaceX] launch is to be your own demand. And so there's Starlink....

Starlink is most likely to be a gusher of cash, not from selling bandwidth, but from selling services on top of that bandwidth." Tren

joincolossus.com/episodes/51296…
3/ In a space business, there are two ways to generate absolute dollar free cash flow. You can build a better horizontal service like rocket launches, or you can go vertical, preferably higher in the stack into higher margin application services with software style margins.
Read 6 tweets
Tren Griffin Profile picture
7 Aug
1/ The satellite industry is becoming less horizontal as businesses try to improve margins/guarantee demand. Vertical acquisitions and new product offerings are happening in the stack. Some regions/counties have industrial policy and strategic objectives. telegraph.co.uk/technology/202…
2/ "Starlink was the only satellite internet provider with a median latency that was anywhere near that seen on fixed broadband in Q2 2021 (45 ms and 14 ms, respectively)."

On data rates, Starlink has only one plan. GEOs have several plans. speedtest.net/insights/blog/…
3/ Starlink added 20,000 subscribers in a month and now has 90,000 total. google.com/amp/s/www.busi…
Read 7 tweets
Tren Griffin Profile picture
7 Aug
1/ Berkshire repurchased $6B in shares in the second quarter, bringing the six month total to $12.6B. Berkshire bought a record $24.7B of its own stock last year.

Berkshire maintained is level of cash at $144.1 billion. Rock steady. cnbc.com/2021/08/07/ber…
2/ When someone asks me if I would buy stock X, my response is always: "That's the wrong question." The right question is: "Of all the investments available to me anywhere, does stock X have the highest opportunity cost for me right now?"

google.com/amp/s/25iq.com…
3/ "It doesn’t matter to Warren where the opportunity is. He has no preconceived ideas about whether Berkshire’s money ought to be in this or that. He’s scanning the world trying to get his opportunity cost as high as he can so his individual decisions would be better." Munger
Read 4 tweets
Tren Griffin Profile picture
7 Aug
1/ Marketplaces create the most value if they solve a hard coordination problem. A multi-sided market is not valuable if the sides can find each other easily. If all you need to do is find a supplier once, that's also less valuable.

Is this hard enough?
foodbusinessnews.net/articles/19283…
2/ The inherent "chicken and egg" problem is best overcome by a marketplace if one side is made the loss leader. The subsidy side of a marketplace tends to: (1) have more elastic demand; (2) be an offering that is harder to get; and (3) is needed more by the other side.
3/ The sides of the market should complement each other – if the sides are complements, it not only reduces the customer acquisition cost (CAC) but assembles sides that want to to enter into exchanges.  A “complement” is any product or that increases the value of another product.
Read 4 tweets
Tren Griffin Profile picture
6 Aug
"Optionality is the property of asymmetric upside (preferably unlimited) with correspondingly limited downside (preferably tiny).” 

Define "negative optionality" and give a current example in the news to get full credit for your answer. 25iq.com/2013/10/13/a-d…
2/ Who said: "If you’ve got a low downside and a big upside, you do it. If you’ve got a big downside and a small upside, you run away. The only time you have work to do is when you have a big downside and a big upside.”

Can you name a situation like that in the news right now?
3/ Who said:

“Take the probability of loss times the amount of possible loss from the probability of gain times the amount of possible gain. That is what we’re trying to do. It’s imperfect, but that’s what it’s all about.”

What might you apply this idea to in the news now?
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @trengriffin has new unrolls!

Check out other threads from @trengriffin!

Read all threads by @trengriffin

:(