1 00:00:01,240 --> 00:00:02,000 Speaker 1: Earners. What's up. 2 00:00:02,080 --> 00:00:04,560 Speaker 2: You ever walk into a small business and everything just 3 00:00:04,720 --> 00:00:07,880 Speaker 2: works like The checkout is fast, the receipts are digital, 4 00:00:08,400 --> 00:00:11,399 Speaker 2: tipping is a breeze, and you're out the door before 5 00:00:11,400 --> 00:00:15,560 Speaker 2: the line even builds. Odds are they're using Square. We 6 00:00:15,720 --> 00:00:18,280 Speaker 2: love supporting businesses that run on Square because it just 7 00:00:18,280 --> 00:00:21,520 Speaker 2: feels seamless. Whether it's a local coffee shop, a vendor 8 00:00:21,560 --> 00:00:23,840 Speaker 2: at a pop up market, or even one of our 9 00:00:23,880 --> 00:00:27,560 Speaker 2: merch partners, Square makes it easy for them to take payments, 10 00:00:27,760 --> 00:00:31,480 Speaker 2: manage inventory, and run their business with confidence, all from 11 00:00:31,600 --> 00:00:35,000 Speaker 2: one simple system. If you're a business owner or even 12 00:00:35,080 --> 00:00:38,600 Speaker 2: just thinking about launching something soon, Square is hands down 13 00:00:38,640 --> 00:00:41,680 Speaker 2: one of the best tools out there to help you start, run, 14 00:00:41,920 --> 00:00:45,240 Speaker 2: and grow. It's not just about payments, it's about giving 15 00:00:45,240 --> 00:00:47,519 Speaker 2: you time back so you can focus. 16 00:00:47,159 --> 00:00:48,760 Speaker 1: On what matters most Ready. 17 00:00:48,760 --> 00:00:52,159 Speaker 2: To see how Square can transform your business, visit Square 18 00:00:52,240 --> 00:00:56,760 Speaker 2: dot com backslash go backslash eyl to learn more that 19 00:00:56,960 --> 00:01:02,400 Speaker 2: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate. 20 00:01:02,520 --> 00:01:04,880 Speaker 2: Let's Square handle the back end so you can keep 21 00:01:04,920 --> 00:01:11,000 Speaker 2: pushing your vision forward. This episode is brought to you 22 00:01:11,040 --> 00:01:13,320 Speaker 2: by P and C Bank, a lot of people think 23 00:01:13,360 --> 00:01:17,240 Speaker 2: podcasts about work are boring, and sure, they definitely can be, 24 00:01:17,760 --> 00:01:21,000 Speaker 2: but understanding of professional's routine shows us how they achieve 25 00:01:21,080 --> 00:01:25,280 Speaker 2: their success little by little, day after day. It's like 26 00:01:25,360 --> 00:01:28,160 Speaker 2: banking with P and C Bank. It might seem boring 27 00:01:28,160 --> 00:01:31,000 Speaker 2: to save, plan and make calculated decisions with your bank, 28 00:01:31,440 --> 00:01:33,920 Speaker 2: but keeping your money boring is what helps you live 29 00:01:34,000 --> 00:01:38,080 Speaker 2: a more happily fulfilled life. P and C Bank Brilliantly 30 00:01:38,160 --> 00:01:42,720 Speaker 2: Boring since eighteen sixty five. Brilliantly Boring since eighteen sixty 31 00:01:42,720 --> 00:01:46,000 Speaker 2: five is a service mark of the PNC Financial Service Group, Inc. 32 00:01:46,480 --> 00:01:49,840 Speaker 2: P and C Bank National Association Member FDIC. 33 00:01:51,800 --> 00:01:57,560 Speaker 3: So let's talk about Starbucks, all right. Considering Starbucks stock 34 00:01:57,640 --> 00:02:01,720 Speaker 3: decline from one hundred and twenty six dollars in twenty 35 00:02:01,800 --> 00:02:05,720 Speaker 3: twenty one to seventy three roughly today, is this a 36 00:02:05,760 --> 00:02:13,919 Speaker 3: signal of diminishing popularity or is it an opportunity to invest. 37 00:02:15,760 --> 00:02:16,760 Speaker 1: I think it's a combination. 38 00:02:17,160 --> 00:02:19,480 Speaker 4: We were talking before we start recording about not losing 39 00:02:19,480 --> 00:02:23,320 Speaker 4: the trust of the people. I think all brands listen 40 00:02:23,440 --> 00:02:27,640 Speaker 4: up across America, stop taking black people for granted. I 41 00:02:27,760 --> 00:02:30,799 Speaker 4: go back to when that one person got mistreated over 42 00:02:30,919 --> 00:02:33,760 Speaker 4: not being able to use the bathroom. That was the 43 00:02:33,800 --> 00:02:37,080 Speaker 4: start of a gradual decline when a lot of us said, Okay, 44 00:02:37,080 --> 00:02:40,200 Speaker 4: we won't shop there anymore. I do believe that if 45 00:02:40,200 --> 00:02:42,760 Speaker 4: we're not being treated fairly by brands, that we should 46 00:02:42,760 --> 00:02:46,760 Speaker 4: weaponize our dollars and not spend. Then they turn around, 47 00:02:47,000 --> 00:02:49,240 Speaker 4: as Target did, as a few other companies did, and 48 00:02:49,320 --> 00:02:53,560 Speaker 4: tried to target the LGBTQ plus community to make. 49 00:02:53,440 --> 00:02:56,560 Speaker 1: Up for the losses of sales from US. 50 00:02:57,200 --> 00:03:03,200 Speaker 4: Didn't work. Conservative investors left as a result. Howard Schultz 51 00:03:03,240 --> 00:03:05,079 Speaker 4: probably is going to need to come back. 52 00:03:07,080 --> 00:03:08,280 Speaker 1: A game. Can that one. 53 00:03:08,520 --> 00:03:11,040 Speaker 4: I keep telling you there's no such thing as freedom, 54 00:03:11,080 --> 00:03:14,040 Speaker 4: Like once you get past a certain level, if things 55 00:03:14,040 --> 00:03:16,280 Speaker 4: are not going right, you gotta come back. So now 56 00:03:16,320 --> 00:03:18,120 Speaker 4: it's at a price point where I almost like it. 57 00:03:18,160 --> 00:03:20,840 Speaker 4: Maybe if it gets like sixty three bucks, I wouldn't 58 00:03:20,880 --> 00:03:24,440 Speaker 4: mind buying it. I do like the company, but the 59 00:03:24,520 --> 00:03:27,880 Speaker 4: service needs to improve. I said it on a stock 60 00:03:27,919 --> 00:03:31,000 Speaker 4: club call yesterday, going back to you guys's point about 61 00:03:31,000 --> 00:03:34,280 Speaker 4: Instagram being one of the biggest competitors. Starbucks used to 62 00:03:34,360 --> 00:03:36,200 Speaker 4: be a third home, a place where you can go 63 00:03:36,240 --> 00:03:38,960 Speaker 4: after work just to do work. But if I'm black 64 00:03:38,960 --> 00:03:41,800 Speaker 4: and I'm going to get the police called on me 65 00:03:41,840 --> 00:03:45,440 Speaker 4: for trying to use a bathroom. A lot more attention 66 00:03:45,560 --> 00:03:49,920 Speaker 4: is being eaten up by digital platforms and people and 67 00:03:50,480 --> 00:03:53,600 Speaker 4: products are not as good. Service is not as good, 68 00:03:53,760 --> 00:03:55,680 Speaker 4: the stores are not as clean. So I think they 69 00:03:55,680 --> 00:03:57,760 Speaker 4: need to bring Schultz back, even though he doesn't want to. 70 00:03:59,000 --> 00:04:00,920 Speaker 4: I'm bullets on the company and he definitely forgets the 71 00:04:01,000 --> 00:04:03,600 Speaker 4: sixty three bucks. I love it, sixty five I love it, 72 00:04:04,120 --> 00:04:05,960 Speaker 4: But I think they have a whole bunch of cultural 73 00:04:06,000 --> 00:04:08,120 Speaker 4: issues that they need to fix and not just put 74 00:04:08,120 --> 00:04:09,560 Speaker 4: a band aid on it. I know y'all did that 75 00:04:09,600 --> 00:04:11,400 Speaker 4: one training for one day when you shut the store 76 00:04:11,440 --> 00:04:13,840 Speaker 4: down and told every employee not to be racist. 77 00:04:14,120 --> 00:04:18,080 Speaker 1: It's not enough. It's not enough. I'm glad you brought 78 00:04:18,120 --> 00:04:18,719 Speaker 1: up that point. 79 00:04:19,279 --> 00:04:23,600 Speaker 2: It's a valid point because that did happen and that 80 00:04:23,760 --> 00:04:25,640 Speaker 2: was the response to it. But it leads to the 81 00:04:25,680 --> 00:04:30,200 Speaker 2: overall theme of boycotting and what has happened. And I mean, 82 00:04:30,560 --> 00:04:32,720 Speaker 2: they could try to run from it, but the publications 83 00:04:32,760 --> 00:04:36,960 Speaker 2: of all news Week, you know, Wall Street Journal, Washington Post, 84 00:04:38,160 --> 00:04:44,920 Speaker 2: their response to the conflict between Gayza and Israel, has 85 00:04:45,120 --> 00:04:46,200 Speaker 2: has weighed on the company. 86 00:04:46,440 --> 00:04:46,600 Speaker 1: Right. 87 00:04:46,600 --> 00:04:49,560 Speaker 2: They were claiming they supported Israel in fund of its 88 00:04:49,560 --> 00:04:54,520 Speaker 2: military operations during the conflict. That hasn't helped what has 89 00:04:54,560 --> 00:04:57,400 Speaker 2: happened inside of the Middle East region, which is interesting. 90 00:04:57,160 --> 00:04:59,919 Speaker 1: Because they have stores there. People are boycotted. 91 00:05:01,080 --> 00:05:04,800 Speaker 2: Two thousand jobs have been cut, sore, sales have gone down. 92 00:05:05,960 --> 00:05:08,720 Speaker 2: That is a problem, right. Their response to that has 93 00:05:08,720 --> 00:05:12,560 Speaker 2: been a problem. The competitive advantage is another problem. What 94 00:05:12,680 --> 00:05:15,440 Speaker 2: is the competitive advantage? I'm not an avid coffee drinker. 95 00:05:15,560 --> 00:05:17,720 Speaker 2: I know plenty of them, I worked with plenty of them. 96 00:05:18,040 --> 00:05:20,279 Speaker 2: But if a person cannot have Starbus, does that mean 97 00:05:20,320 --> 00:05:22,400 Speaker 2: they can't have coffee anymore. No, They'll go to Duck 98 00:05:22,440 --> 00:05:25,920 Speaker 2: and Dunts. They'll go right, or they'll have somebody making 99 00:05:25,960 --> 00:05:27,840 Speaker 2: it at the office, or they'll have somebody brewing it 100 00:05:27,880 --> 00:05:28,320 Speaker 2: at their home. 101 00:05:28,720 --> 00:05:31,200 Speaker 1: So that competitive advantage is kind of interesting. 102 00:05:31,600 --> 00:05:34,400 Speaker 2: The other point, I'm glad you brought Howard Sultau because 103 00:05:34,520 --> 00:05:36,320 Speaker 2: they asked him about it. He said that the company 104 00:05:36,400 --> 00:05:40,000 Speaker 2: needs to improve its mobile order and pay experience hasn't 105 00:05:40,040 --> 00:05:40,479 Speaker 2: been great. 106 00:05:40,760 --> 00:05:44,000 Speaker 1: If you've ever got all Starbucks and a Starbucks point 107 00:05:44,120 --> 00:05:48,200 Speaker 1: system is it's a joke? Point? Yeah? 108 00:05:48,200 --> 00:05:51,360 Speaker 2: Like, I've been there a few times and ordered something 109 00:05:51,360 --> 00:05:52,080 Speaker 2: and got to the window. 110 00:05:52,120 --> 00:05:53,920 Speaker 1: I'm like I'm sorry, we don't have it, Like, well, 111 00:05:53,920 --> 00:05:56,120 Speaker 1: why do you let me order it? Right? Yeah? 112 00:05:56,160 --> 00:05:58,320 Speaker 2: And then they said how they create new drinks? Right, 113 00:05:58,520 --> 00:06:02,359 Speaker 2: And that's interesting because it's like, what is the marketing 114 00:06:02,440 --> 00:06:05,000 Speaker 2: campaign that goes into creating a new drink other than 115 00:06:05,040 --> 00:06:07,839 Speaker 2: if you don't walk in the store, you see it. Yeah, 116 00:06:07,960 --> 00:06:11,320 Speaker 2: there really isn't any ad for it. You really built 117 00:06:11,360 --> 00:06:14,719 Speaker 2: the company on experience. It was an experience. I remember 118 00:06:14,720 --> 00:06:16,440 Speaker 2: when it was like, oh, you can go there, the 119 00:06:16,480 --> 00:06:19,479 Speaker 2: place to meet, it's a social gathering place, it's. 120 00:06:19,320 --> 00:06:20,040 Speaker 1: Free Wi Fi. 121 00:06:21,240 --> 00:06:24,800 Speaker 2: But everybody has that now, so now what is the 122 00:06:24,880 --> 00:06:26,520 Speaker 2: experience when you get to the store. And then the 123 00:06:26,560 --> 00:06:29,160 Speaker 2: other part is they're trying to figure out premium items 124 00:06:29,240 --> 00:06:29,920 Speaker 2: to set them. 125 00:06:29,760 --> 00:06:33,880 Speaker 1: Apart from the competitors. It's tough inside of that business. 126 00:06:35,000 --> 00:06:35,800 Speaker 1: I don't know. 127 00:06:35,960 --> 00:06:40,960 Speaker 2: I mean, I'm not an expert on the coffee brewing process, 128 00:06:41,320 --> 00:06:43,520 Speaker 2: but I'm not what is the premium item inside of 129 00:06:43,520 --> 00:06:46,239 Speaker 2: it that they can create. I guess that's one of 130 00:06:45,520 --> 00:06:48,120 Speaker 2: the things that they'll have to figure out, which is 131 00:06:48,200 --> 00:06:51,320 Speaker 2: what Schultz is saying and probably why he might have 132 00:06:51,400 --> 00:06:54,400 Speaker 2: to come back another time to take over and come 133 00:06:54,480 --> 00:06:56,719 Speaker 2: up with some innovative ideas. To get this company going 134 00:06:56,760 --> 00:07:00,360 Speaker 2: back forward, because that's a pretty swift drop from thirty 135 00:07:00,400 --> 00:07:03,600 Speaker 2: to seventy three. And if you look at the earnings 136 00:07:03,640 --> 00:07:06,040 Speaker 2: over the past couple of quarters, it hasn't been great. 137 00:07:06,320 --> 00:07:09,840 Speaker 1: So how do you get this company going back in 138 00:07:09,840 --> 00:07:10,480 Speaker 1: the right direction. 139 00:07:10,680 --> 00:07:14,280 Speaker 2: It's going to take innovation, it's going to take some 140 00:07:14,400 --> 00:07:17,560 Speaker 2: pr it's going to take some marketing. But like you said, 141 00:07:17,640 --> 00:07:20,360 Speaker 2: I don't think it's not over for Starbucks. It's not 142 00:07:20,400 --> 00:07:22,720 Speaker 2: going anywhere, but they need to help. 143 00:07:22,880 --> 00:07:26,480 Speaker 5: An illegal alien from Guatemala charged with raping a child 144 00:07:26,560 --> 00:07:30,360 Speaker 5: in Massachusetts. 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