Everything John Mackey said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Psychedelics shifted John Mackey's trajectory away from traditional professions
“I think because I experimented with psychedelic drugs back in my, ah, early twenties that, that took me off that path, and I began to see, I became a seeker, I was looking for the meaning of life, and I studied, I went back and forth between two universities, …”
John Mackey met his Whole Foods co-founder in a housing co-op
“I thought I'd find a girlfriend there, and I did. The woman that I co-founded Whole Foods with.”
Mackey: Safer Way lost $23K and half its capital in year one
“The safer way is we lost money the first year. We lost half our money, 23,000 dollars in the first year, and Renee and I were not really taking any money out”
Mackey: Whole Foods Predecessor Launched With $45,000 From Friends and Family
“Yeah, we were trying to raise 50, but all we could get was 45. That's all we could beg out our friends and family. And we said, let's give it a go.”
Mackey: Whole Foods went public four years after raising venture capital
“We'd gone, had a, we'd gone public just four years after the VC money, and Whole Foods was rocketing up and growing all over the United States, and he said that was the single biggest mistake he ever made as a VC investor.”
Mackey: Whole Foods predecessor SaferWay launched with $45,000 in seed capital
“We thought we needed 50,000 dollars to start the store, and we could only come up with 45, but we decided we could make do with it. And my initial stake was 10,000 dollars. That's the most I ever owned of the company, and 10 of the 45,000, and I borrowed all o…”
Mackey: SaferWay lost $23,000 of its $45,000 initial capital in year one
“We actually lost half of it in the first year. We lost 23,000 dollars the first year.”
Mackey: SaferWay reached profitability in year two with a $5,000 profit
“And we did make a small 5000 dollar profit in our second year.”
Mackey: First Whole Foods opened with zero advertising
“We didn't do any advertising. We just opened the doors, but the word of mouth was incredible. The whole Austin kind of counterculture hippie community knew about it immediately.”
Mackey: Whole Foods was hit by a 100-year flood in May 1981
“Like nine months after we opened, this is now in May of 1981, Austin had the worst flood that it had had in about a hundred years. And our store was located in the hundred year floodplain.”
Mackey: Whole Foods went public in 1992 raising about $28 million
“We did go public back in 1992, and we raised about twenty eight million dollars.”
Mackey: Whole Foods was valued at about $100M at IPO
“Overnight we were worth about a hundred million when we went public.”
Mackey Accumulated 120 Hours of Electives Instead of Finishing College Degree
“So I ended up with a 120 hours of electives that were just courses I was interested in.”
Mackey's Mother Urged Him on Her Deathbed to Leave Grocery Business
“The very last conversation I ever had with my mother in 1987 was on her deathbed, and she asked me to go back to school and make something of myself, and I was a grocer, I was a hippie grocer, and I, she said, you know, you have a fine mind, John, why are you …”
Mackey's First Store SaferWay Refused to Sell Sugar or Meat
“We didn't sell sugar. We didn't sell meat. We were selling real foods. We were selling bulk foods and produce”
Mackey's First Store SaferWay Lost $23,000 in Its First Year
“We actually lost half of it in the first year. We lost 23,000 dollars the first year.”
Mackey Claims First Whole Foods Store Was Successful by 3 PM
“And the store was an immediate success. People sometimes ask, how long did it take the first Whole Foods Market to be successful? And the answer, true answer is, it took till about three o'clock in the afternoon on the first day.”
Whole Foods Launched Its Original Store Without Any Advertising
“And we didn't do any advertising. We just opened the doors, but the word of mouth was incredible. The whole Austin kind of counterculture hippie community Knew about it immediately.”
Original Whole Foods Store Was Devastated by 1981 Austin Flood
“Like nine months after we opened, this is now in May of 1981, Austin had the worst flood that it had had in about a hundred years, and our store was located in the hundred year floodplain.”
Mackey Rescued $100,000 in Cash From Store Safe During 1981 Flood
“More than half our money back then was just in cash. I mean, I think we had about a 100,000 dollars, and I'd put it all in this grocery bag”
Whole Foods Raised Venture Capital in 1988 to Accelerate Growth
“In 1988, we decided we couldn't grow as fast as we wanted to grow from just our retained profits. Tapped out all of our friends and family, and there was no angel network, so we needed to raise some venture capital.”
Mackey's Natural Food Awakening Began at Austin Co-op Prana House
“My food consciousness awakening really occurred when I was about 23, and I moved into this vegetarian co-op in Austin called Prana House.”