Acquired
Starbucks (with Howard Schultz)
Howard Schultz
And so even though there was pressure early on because of the cost of capital and we didn't have a lot of money, To franchise, we'd have no CapEx. I said, no, we resisted that. And I don't think we'd be having this conversation if Starbucks was a franchise system. Because McDonald's, extraordinary company, but they're a commodity-based product.
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