AI Summary
5 min read🎙️ The Voices & The Context
- The Format: A deep-dive, long-form interview. This is a flagship episode of the business podcast "Acquired," where the hosts (Ben Gilbert and David Rosenthal) dissect the story of a great company with a key figure. The tone is conversational, reverent, and analytical.
- The Key Players:
- Howard Schultz: The legendary former CEO and chairman of Starbucks. He is the "founder" of the modern Starbucks empire, having bought the original company from its founders and scaling it to a global phenomenon. He is a charismatic storyteller with a powerful personal narrative.
- Ben Gilbert & David Rosenthal: The hosts of "Acquired." They are deeply knowledgeable business historians who act as enthusiastic guides. Ben is the unabashed Starbucks superfan, while David provides the analytical, data-driven counterpoint.
- The Vibe: Intense, Inspiring, and Educational. The conversation is filled with high-stakes drama, emotional vulnerability, and sharp business insights. It's a masterclass in building a brand with humanity at its core.
🗝️ Key Themes & Topics
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What you'll learn
- 1 (00:00) **🎙️ Introduction: Howard Schultz**
- 2 (04:12) **The Pre-Starbucks Era: The Three Founders & Howard's Arrival**
- 3 (09:41) **The Coffee Landscape & Howard's Xerox Background**
- 4 (18:56) **The Italian Epiphany & The Birth of the Coffee Bar**
- 5 (22:26) **Founding Il Giornale & The Struggle to Raise Capital**
- 6 (29:11) **The Pivotal Moment: Buying Starbucks**
- 7 (31:02) **Bill Gates Sr. Saves the Day**
+ Full timestamped outline available in the app
Show Notes
Starbucks. You’d be hard pressed to name any brand that’s more ubiquitous in the world today. With nearly half a billion global customer purchases per week across its stores and 3rd party retail channels, a significant portion of the human population gets their daily fix in the green and white paper cup. (Including our own Ben Gilbert who famously enjoys his daily spinach feta wrap. :)
But it wasn’t always this way. Long before the frappuccinos and the PSLs and the cake pops, Starbucks was just a small-time Seattle roaster that only sold beans — and was started not by Howard Schultz but rather the guys who later ran Peet’s (!). Starting from six tiny stores when Howard took over in 1987, this quirky coffee company named after a character from Moby Dick has scaled to nearly 40,000 locations worldwide.
Today, in a first for Acquired, the protagonist himself joins us as a third cohost to tell the whole story of Starbucks. And Howard is in the perfect moment to do this — after three separate stints as CEO he’s now retired, off the board of directors, and in his own words “not coming back.” So place a mobile order (or not! as you’ll hear Howard speak about), sit back with your own favorite Starbucks items, and enjoy.
Sponsors:
- Sentry: https://bit.ly/acquiredsentry
- WorkOS: https://bit.ly/workos25
- Anthropic: https://bit.ly/acquiredclaude25
- Statsig: https://bit.ly/acquiredstatsig26
The Biggest Thing We’ve Ever Done:
- San Francisco. September 10, 2024. Mark your calendars.
Links:
- Howard’s letter “The Soul of a Brand”
- Worldly Partners’ multi-decade Starbucks analysis
- Starbucks S-1
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‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
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