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Masters of Scale

Rapid Response: How Covid lessons get tested by inflation, w/Shake Shack founder Danny Meyer

Masters of Scale

WaitWhat

Startups, Business, Mindset, Management, Bob Safian, Entrepreneurship, Diversity & Inclusion, Reid Hoffman, Jeff Berman

4.64.4K Ratings

🗓️ 29 September 2022

⏱️ 38 minutes

🧾️ Download transcript

Summary

After slashing his NYC restaurant team from 2,400 people to just 45 in the teeth of the pandemic, Danny Meyer has rebuilt Union Square Hospitality Group back to its former size. But in his fifth appearance on Rapid Response since Covid struck, Danny says he isn’t yet triumphant. With inflation creating fresh challenges even at Shake Shack, Danny shares lessons on the good and bad of leading through a crisis, plus explains why he’s handed off his CEO title — and where he finds inspiration to fuel new innovations.

Read a transcript of this interview: https://mastersofscale.com/how-covid-lessons-get-tested-by-inflation-danny-meyer/

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Transcript

Click on a timestamp to play from that location

0:00.0

Hey listeners, this is Chris Gotier, I'm one of the producers of Masters of Scale.

0:04.8

I want to tell you about a show from our friends at Harvard Business Review that might help you better understand the world of business.

0:11.0

It's called HBR IdeaCast.

0:14.0

Each week, Harvard Business Review editors bring you the world's leading business and management experts.

0:19.3

But it isn't just another business podcast.

0:21.8

We think you will find so many connections from IdeaCast to how we hear at Masters of Scale think about scaling our business.

0:29.6

For instance, they often approach business challenges from contrarian points of view, telling surprising stories,

0:35.5

like, what can we learn from NASA about managing high-risk projects?

0:40.1

And what can a comedian teach us about using humor to lead a team?

0:44.8

Subscribe to HBR IdeaCast on Apple Podcasts or wherever you get your podcasts.

0:50.1

Now onto the show.

0:52.1

From 37 years of experience, I've never seen this before.

0:56.4

I've never seen this confluence of so many stacked up issues at the same time.

1:02.8

In the economy, in politics, in people's health, in people's willingness or unwillingness to come back to work.

1:13.0

Entrepreneurs need problems in the same way that surfers need waves.

1:17.4

So, whenever we ever had more problems to solve, with the right idea, the right passion, and the right leadership skills,

1:25.5

entrepreneurs are actually facing what could be a golden age right now.

1:34.7

That's world-renowned restaurant tour Danny Meyer, founder and executive chair of the Union Square Hospitality Group,

1:41.3

and founder and board chair of ShakeShack.

1:44.2

This is the fifth time we've welcomed Danny onto rapid response, as we continue to chronicle his company's pandemic era journey.

1:52.4

Under the weight of inflation and in the shadow of COVID-19, the hospitality industry remains a telling barometer

1:59.5

of evolving business challenges and opportunities.

...

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