4.2 • 5.3K Ratings
🗓️ 21 August 2024
⏱️ 19 minutes
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0:00.0 | Our colleague Lauren Thomas covers shareholder activism and recently that's |
0:10.5 | meant reporting on Starbucks. But long before that, Lauren tried to make it in the |
0:16.8 | Frappuccino business. My first job, funny enough, was actually working at a Starbucks in North Carolina. |
0:26.0 | Bring us to what that was like. |
0:28.0 | Great experience. I mean I feel like everyone should at some point have a job like working in either retail or restaurants teaches you many life skills. |
0:37.0 | And Lauren learned she wasn't fast enough. |
0:41.0 | Especially when it came to the Frappuccinos, anything that like required extra steps, like, yeah, I was taking my time and the |
0:49.5 | worst thing was like to look over your shoulder and you saw the line of cups there waiting to be filled. |
0:55.8 | You know, that's like the pressure's on. |
0:58.0 | That's the worst thing from both sides of the counter though. |
1:00.7 | Well 100%. And recently, Starbucks the company has been about as successful as Lauren the Burista. |
1:12.0 | What three adjectives would you use to describe Starbucks performance this year? |
1:19.0 | Ooh, um, copy, underwhelming, and, um, |
1:25.0 | flat, weak, uncaffinated, decaffinated. |
1:30.0 | Decaffinated. |
1:32.0 | Decaf! |
1:35.2 | A lot of unrest was brewing. |
1:37.9 | Customers were complaining, earnings were falling. |
1:41.4 | Then the old CEO called out new management strategy and |
1:45.2 | shareholders started agitating. |
1:50.3 | It all led to a major shakeup last week. |
1:57.0 | So last week, in a pretty abrupt twist to everyone that had been following along the |
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