The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 10 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Primal Kitchen sold 18 restaurant franchises before opening a single location
“We went to market and we sold 18 franchises at our first meeting in the first year. And we didn't have an operating unit.”
Sisson personally guaranteed a $6 million credit line to fund operations
“I had a line of credit, and I was a guarantor on six million dollars worth of credit that we were using to finance the operations, finance receivables, to prepay for avocado oil that wasn't due to arrive in, until eight months down the road.”
Sisson: Primal Kitchen would have failed if launched five years earlier
“I think if I'd started Primal Kitchen five years earlier, it would have failed, because five years earlier, there wasn't the awareness of healthy fats, of avocado oil being a beneficial oil, and seed oils being as bad for you as come to find out.”
Sisson: Kraft Heinz acquired Primal Kitchen for $200M in January 2019
“It's public knowledge, but it was for two hundred million dollars, and then we spent, you know, November hammering out the details of the deal. ... The deal almost fell apart three or four times. But we hammered something out the two days after Thanksgiving, a…”
Sisson funneled $2.5 million in annual supplement profits into Primal Kitchen
“I was still making two, two and a half million dollars a year on the supplement business, but I was taking the money that I would have put in my own pocket and just using it to finance. This new product line, which I hoped would become its own company, but I d…”
Sisson: Primal Kitchen sold 12,000 jars of mayonnaise in two weeks
“So we made the 12,000 jar run, and we sold out in two weeks.”
Sisson leveraged his Thrive Market investment for exclusive online launch distribution
“So coincidentally, I had been an early investor in Thrive Market, which billed itself as Costco meets Whole Foods Online, a membership organization where you could go get all the things you could find at Whole Foods, but at Costco prices, But not at Costco Qua…”
Sisson: Primal Kitchen entered 1,700 Publix stores by late 2016
“So the next one was Publix, and we actually got into Publix, we got accepted into Publix by the end of 2016. And so we opened up and I think 1700 Publix stores, which was really fast tracking.”
Primal Kitchen restaurants lost $50,000 monthly despite high customer foot traffic
“Then we started building the restaurants, and once we opened, we realized that the business plan was not a viable business plan, that we had lots of traffic, we were selling lots of meals, And losing 50,000 dollars a month.”