“We ended up getting about 50 investors in that first round to raise 300,000 dollars. That means we have to talk to like 250 people.”
quote is from the automated transcript, cleaned for reading:
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More from Jonathan Neman
Disclosure
Sweetgreen rejected a 100-location licensing deal when it had three stores
“If you go back when we had three restaurants that we got an offer for a very, you know, we got, we always got franchise requests from day one, you know, one off franchise requires probably a thousand of them. But at one point we got an offer from like a very l…”
Jonathan NemanMay 6, 2024▶ 30:46Sweetgreen co-founders: From college friends to a $2.5 billion public company | Masters of Scale
PredictionNot checkable as stated
Automation is the restaurant industry's next 20-year platform shift
“And we think that, you know, over the next 20 years, automation is that next platform shift, similar to the digital transformation we've seen over the past 15.”
Jonathan NemanMay 6, 2024▶ 59:33Sweetgreen co-founders: From college friends to a $2.5 billion public company | Masters of Scale
Disclosure
Sweetgreen will not eliminate jobs during its Infinite Kitchen automation rollout
“We don't plan on eliminating any workers as part of the rollout. So it's going mostly in new restaurants and in any retrofits, That we have, we will keep those jobs for our team members.”
Jonathan NemanMay 6, 2024▶ 1:00:59Sweetgreen co-founders: From college friends to a $2.5 billion public company | Masters of Scale
Disclosure
Sweetgreen avoids public brand commentary outside food, health, sustainability, or staff
“We are going to focus on if it's an issue related to food, Health, sustainability, or our people directly, we will do something. We may comment internally about certain issues, but as a brand, we do not believe it's appropriate to make comments on any of those…”
Jonathan NemanMay 6, 2024▶ 1:04:08Sweetgreen co-founders: From college friends to a $2.5 billion public company | Masters of Scale
Opinion
Corporate leaders should speak up personally, but brands should stay silent
“I think it's important for leaders to speak up on those things, but I think it's inappropriate for the brand itself to speak.”
Jonathan NemanMay 6, 2024▶ 1:05:37Sweetgreen co-founders: From college friends to a $2.5 billion public company | Masters of Scale
Insight
Operational difficulty creates a restaurant company's defensible moat and long-term value
“How hard it is, is what makes the moat, and what makes it so valuable and powerful over time.”
Jonathan NemanMay 6, 2024▶ 9:12Sweetgreen co-founders: From college friends to a $2.5 billion public company | Masters of Scale
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