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Speaker 3: So let's talk about Starbucks, all right. Considering Starbucks stock
Speaker 3: decline from one hundred and twenty six dollars in twenty
Speaker 3: twenty one to seventy three roughly today, is this a
Speaker 3: signal of diminishing popularity or is it an opportunity to invest.
Speaker 1: I think it's a combination.
Speaker 4: We were talking before we start recording about not losing
Speaker 4: the trust of the people. I think all brands listen
Speaker 4: up across America, stop taking black people for granted. I
Speaker 4: go back to when that one person got mistreated over
Speaker 4: not being able to use the bathroom. That was the
Speaker 4: start of a gradual decline when a lot of us said, Okay,
Speaker 4: we won't shop there anymore. I do believe that if
Speaker 4: we're not being treated fairly by brands, that we should
Speaker 4: weaponize our dollars and not spend. Then they turn around,
Speaker 4: as Target did, as a few other companies did, and
Speaker 4: tried to target the LGBTQ plus community to make.
Speaker 1: Up for the losses of sales from US.
Speaker 4: Didn't work. Conservative investors left as a result. Howard Schultz
Speaker 4: probably is going to need to come back.
Speaker 1: A game. Can that one.
Speaker 4: I keep telling you there's no such thing as freedom,
Speaker 4: Like once you get past a certain level, if things
Speaker 4: are not going right, you gotta come back. So now
Speaker 4: it's at a price point where I almost like it.
Speaker 4: Maybe if it gets like sixty three bucks, I wouldn't
Speaker 4: mind buying it. I do like the company, but the
Speaker 4: service needs to improve. I said it on a stock
Speaker 4: club call yesterday, going back to you guys's point about
Speaker 4: Instagram being one of the biggest competitors. Starbucks used to
Speaker 4: be a third home, a place where you can go
Speaker 4: after work just to do work. But if I'm black
Speaker 4: and I'm going to get the police called on me
Speaker 4: for trying to use a bathroom. A lot more attention
Speaker 4: is being eaten up by digital platforms and people and
Speaker 4: products are not as good. Service is not as good,
Speaker 4: the stores are not as clean. So I think they
Speaker 4: need to bring Schultz back, even though he doesn't want to.
Speaker 4: I'm bullets on the company and he definitely forgets the
Speaker 4: sixty three bucks. I love it, sixty five I love it,
Speaker 4: But I think they have a whole bunch of cultural
Speaker 4: issues that they need to fix and not just put
Speaker 4: a band aid on it. I know y'all did that
Speaker 4: one training for one day when you shut the store
Speaker 4: down and told every employee not to be racist.
Speaker 1: It's not enough. It's not enough. I'm glad you brought
Speaker 1: up that point.
Speaker 2: It's a valid point because that did happen and that
Speaker 2: was the response to it. But it leads to the
Speaker 2: overall theme of boycotting and what has happened. And I mean,
Speaker 2: they could try to run from it, but the publications
Speaker 2: of all news Week, you know, Wall Street Journal, Washington Post,
Speaker 2: their response to the conflict between Gayza and Israel, has
Speaker 2: has weighed on the company.
Speaker 1: Right.
Speaker 2: They were claiming they supported Israel in fund of its
Speaker 2: military operations during the conflict. That hasn't helped what has
Speaker 2: happened inside of the Middle East region, which is interesting.
Speaker 1: Because they have stores there. People are boycotted.
Speaker 2: Two thousand jobs have been cut, sore, sales have gone down.
Speaker 2: That is a problem, right. Their response to that has
Speaker 2: been a problem. The competitive advantage is another problem. What
Speaker 2: is the competitive advantage? I'm not an avid coffee drinker.
Speaker 2: I know plenty of them, I worked with plenty of them.
Speaker 2: But if a person cannot have Starbus, does that mean
Speaker 2: they can't have coffee anymore. No, They'll go to Duck
Speaker 2: and Dunts. They'll go right, or they'll have somebody making
Speaker 2: it at the office, or they'll have somebody brewing it
Speaker 2: at their home.
Speaker 1: So that competitive advantage is kind of interesting.
Speaker 2: The other point, I'm glad you brought Howard Sultau because
Speaker 2: they asked him about it. He said that the company
Speaker 2: needs to improve its mobile order and pay experience hasn't
Speaker 2: been great.
Speaker 1: If you've ever got all Starbucks and a Starbucks point
Speaker 1: system is it's a joke? Point? Yeah?
Speaker 2: Like, I've been there a few times and ordered something
Speaker 2: and got to the window.
Speaker 1: I'm like I'm sorry, we don't have it, Like, well,
Speaker 1: why do you let me order it? Right? Yeah?
Speaker 2: And then they said how they create new drinks? Right,
Speaker 2: And that's interesting because it's like, what is the marketing
Speaker 2: campaign that goes into creating a new drink other than
Speaker 2: if you don't walk in the store, you see it. Yeah,
Speaker 2: there really isn't any ad for it. You really built
Speaker 2: the company on experience. It was an experience. I remember
Speaker 2: when it was like, oh, you can go there, the
Speaker 2: place to meet, it's a social gathering place, it's.
Speaker 1: Free Wi Fi.
Speaker 2: But everybody has that now, so now what is the
Speaker 2: experience when you get to the store. And then the
Speaker 2: other part is they're trying to figure out premium items
Speaker 2: to set them.
Speaker 1: Apart from the competitors. It's tough inside of that business.
Speaker 1: I don't know.
Speaker 2: I mean, I'm not an expert on the coffee brewing process,
Speaker 2: but I'm not what is the premium item inside of
Speaker 2: it that they can create. I guess that's one of
Speaker 2: the things that they'll have to figure out, which is
Speaker 2: what Schultz is saying and probably why he might have
Speaker 2: to come back another time to take over and come
Speaker 2: up with some innovative ideas. To get this company going
Speaker 2: back forward, because that's a pretty swift drop from thirty
Speaker 2: to seventy three. And if you look at the earnings
Speaker 2: over the past couple of quarters, it hasn't been great.
Speaker 1: So how do you get this company going back in
Speaker 1: the right direction.
Speaker 2: It's going to take innovation, it's going to take some
Speaker 2: pr it's going to take some marketing. But like you said,
Speaker 2: I don't think it's not over for Starbucks. It's not
Speaker 2: going anywhere, but they need to help.
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