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> "Reestablishing Starbucks as the community coffeehouse." What a load of corporate bullshit. Unlike any other community coffee house, this one made almost $10

> "Reestablishing Starbucks as the community coffeehouse." What a load of corporate bullshit. Unlike any other community coffee house, this one made almost $10b in profit last year. I wonder how much the "community" really benefits from this. https://finance.yahoo.com/quote/SBUX/financials/ https://finance.yahoo.com/quote/SBUX/financials/

yesfitz 1y ago
We're literally commenting on a scholarly article that describes how the community benefits from Starbucks locations.
- picardo 1y ago
  Oh snap.
potato3732842 1y ago
>Unlike any other community coffee house, this one made almost $10b in profit last year. I wonder how much the "community" really benefits from this That's around $60k per store. That sounds like a very reasonable number for an absentee coffee shop owner (which is basically what the shareholders are).
- barbazoo 1y ago
  Assuming that’s going to the store which I very much doubt.
  - carlosjobim 1y ago
    The word "profit" means that this is the money which is by definition not going to the store. Any money which goes to the store is not counted into profits.
joshlemer 1y ago
When a company makes a profit, that doesn't necessarily mean they made anyone else worse off. In general, when in a competitive environment, and dealing with customers who are responsible adults (which both hold in the case of the restaurant industry), we should presume that everyone is being made better off by the transactions, that it's a win-win situation.
- azemetre 1y ago
  It does when this is the same company that threatens employees who want to unionize. Hard to extol the virtues of profit when it results in this. I'm sure the owner love it tho.
  - joshlemer 1y ago
    Well, a union is a form of cartel, it's an anti competitive organization of market participants who are colluding to set prices and extract other concessions from labour buyers. They therefor undermine the ability of markets to maximize value for all participants.
    - bluefirebrand 1y ago
      > They therefor undermine the ability of markets to maximize value for all participants. Currently markets are not maximizing value for all participants, only the wealthiest and owners, so frankly I don't think anyone should give a damn about them "Labour Buyers" should be counting their blessings if workers just unionize right now
    - azemetre 1y ago
      You're acting as if capitalists treat their workers well under the current system when the opposite has occurred. Nearly $50 trillion was stolen from workers [1] by the capitalists owners in the US. Income inequality is literally at worse levels than just prior to the French Revolution. The first politician to offer $1 trillion in federal assistance to middle/lower classes (free healthcare, free university/vocational training, public housing, public jobs) will absolutely control the electorate at both sides of the aisles. Remember that redistribution of wealth are very popular American activities. It swings both ways. [1] https://www.rand.org/pubs/working_papers/WRA516-1.html https://www.rand.org/pubs/working_papers/WRA516-1.html

yesfitz 1y ago

We're literally commenting on a scholarly article that describes how the community benefits from Starbucks locations.

picardo 1y ago
Oh snap.

potato3732842 1y ago

>Unlike any other community coffee house, this one made almost $10b in profit last year. I wonder how much the "community" really benefits from this That's around $60k per store. That sounds like a very reasonable number for an absentee coffee shop owner (which is basically what the shareholders are).

barbazoo 1y ago
Assuming that’s going to the store which I very much doubt.
- carlosjobim 1y ago
  The word "profit" means that this is the money which is by definition not going to the store. Any money which goes to the store is not counted into profits.

joshlemer 1y ago

When a company makes a profit, that doesn't necessarily mean they made anyone else worse off. In general, when in a competitive environment, and dealing with customers who are responsible adults (which both hold in the case of the restaurant industry), we should presume that everyone is being made better off by the transactions, that it's a win-win situation.

azemetre 1y ago
It does when this is the same company that threatens employees who want to unionize. Hard to extol the virtues of profit when it results in this. I'm sure the owner love it tho.
- joshlemer 1y ago
  Well, a union is a form of cartel, it's an anti competitive organization of market participants who are colluding to set prices and extract other concessions from labour buyers. They therefor undermine the ability of markets to maximize value for all participants.
  - bluefirebrand 1y ago
    > They therefor undermine the ability of markets to maximize value for all participants. Currently markets are not maximizing value for all participants, only the wealthiest and owners, so frankly I don't think anyone should give a damn about them "Labour Buyers" should be counting their blessings if workers just unionize right now
  - azemetre 1y ago
    You're acting as if capitalists treat their workers well under the current system when the opposite has occurred. Nearly $50 trillion was stolen from workers [1] by the capitalists owners in the US. Income inequality is literally at worse levels than just prior to the French Revolution. The first politician to offer $1 trillion in federal assistance to middle/lower classes (free healthcare, free university/vocational training, public housing, public jobs) will absolutely control the electorate at both sides of the aisles. Remember that redistribution of wealth are very popular American activities. It swings both ways. [1] https://www.rand.org/pubs/working_papers/WRA516-1.html https://www.rand.org/pubs/working_papers/WRA516-1.html