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The Knowledge Project

Panera Founder Ron Shaich

The Knowledge Project

Shane Parrish

Business, Society & Culture, Technology, Education, Self-improvement, Investing, Entrepreneurship

4.72.9K Ratings

🗓️ 11 November 2025

⏱️ 103 minutes

🧾️ Download transcript

Summary

Restauranteur Ron Shaich reveals how he built the fast casual industry, scale a business, and spot the trends before they happen. Ron Shaich is an entrepreneur and investor. He was the founder and former CEO of Panera Bread and Au Bon Pain, generating 25% annualized returns and helping define the fast casual restaurant segment. Now he's the chairman of CAVA (NYSE: CAVA). He is the author of Know What Matters. He explains - The origins of Au Bon Pain and Panera - What you should focus on and what you should avoid - What most people get wrong about growing a business - Why the best always seek out the details - How to use your obsession to your advantage ----- Upgrade: Get a hand edited transcripts and ad free experiences along with my thoughts and reflections at the end of every conversation. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it’s completely free. Learn more and sign up at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠------ Follow Shane Parrish:X: ⁠⁠⁠⁠⁠https://x.com/shaneparrish Insta: https://www.instagram.com/farnamstreet/ LinkedIn: https://www.linkedin.com/in/shane-parrish-050a2183/ Thank you to the sponsors for this episode: reMarkable: Get your paper tablet at https://www.reMarkable.com today .tech domains: Nothing says tech like being on .tech https://get.tech/ Shopify: https://shopify.com/knowledgeproject Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

I've done this now over half a century. I was part of building bakery cafes in America between

0:05.9

Obampen, Pan, Panera. These were the dominant brands. How do you develop the long-term thinking

0:11.7

that you've brought to all these different concepts? I have an expression. I'm long-term greedy,

0:16.7

not short-term stupid. Now it seems so obvious, but how did you hit on this inside at the time?

0:21.9

I think that the most powerful skill that I have as a business person

0:26.3

and what I would challenge entrepreneurs to acquire is the skill of it.

0:31.8

Talk to me about the difficulties of running a business, the family costs, the social cost. When you're doing anything that takes powerful commitment,

0:42.3

that commitment owns you, you don't own it.

0:44.3

There's a very real personal price.

0:47.3

I've been married twice. It's not something I'm proud of.

0:50.3

Everything I believe in about business starts with three words.

1:01.3

What are you obsessed with lately?

1:06.0

My health, actually.

1:07.9

What does that mean for you to be obsessed with that?

1:10.4

Well, I'm 71, and I look at my kids. I look at my

1:15.9

relationships and there's so much to live for and so much to see and I really want to do everything I

1:23.2

can to give myself every opportunity to live and see how the world unfolds.

1:30.9

And how has that changed your behaviors?

1:33.5

I got more serious about it because I would say in my earlier years, 30s, 40s, and 50s,

1:40.4

I was probably more focused on work and relationships, family.

1:46.8

And as I gain perspective on it, if I'm ever going to do it, now is the time.

1:52.3

So I'm trying to literally work out every day in some serious way and really eat well, take the right medication supplements, anything I can

...

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