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I don't understand how this company somehow manages to convince people they are particularly innovative or that they deserve some kind of "tech company" reputat
by ben7799 2y ago
I don't understand how this company somehow manages to convince people they are particularly innovative or that they deserve some kind of "tech company" reputation or valuation.
It's just another faddish restaurant going through it's lifecycle. Who knows if they will be around in the long run. As soon as they are suddenly not cool people will move onto whatever else is new and cool.
I have one very close to my office, the food is fine, the prices are high, the service and experience kind of stinks for the price. Salad is also super easy and cheap to make yourself. If their customers discover how easy it is to make a salad themselves that is not going to help.
I wonder how much of the administrative overhead is excessive compensation. Pretend you are a tech unicorn and your founders/execs probably demand compensation that is out of line for the restaurant industry where profits don't look anything like FAANG.
- akira2501 2y ago> Who knows if they will be around in the long run. With 23% of revenue going to administrative overhead? They will not be.
- reducesuffering 2y agoThey don't deserve some kind of "tech co" valuation, they deserve a Chipotle ($87 billion market cap) level valuation eventually. Contrary to most comments here, and the demand for Sweetgreens shows, Sweetgreens is actually nailing the holy trifecta of 1) healthy 2) tasty 3) fast, while not being too expensive for most people, just like Chipotle. They also do have a leg up technology-wise, as they have good devs and tech stack (for a non tech co) and acquired some smart MIT students working on fully automated food bowls that is showing a lot of promise. I expect to see a lot more of them all over the US and approach current Chipotle status in valuation and size in the next 7 years.