Asia’s venture capital-backed startups are gunning for Starbucks .
In China, the U.S. coffee giant is being pushed by Luckin Coffee, a $2.2 billion challenger surfing China’s on-demand wave, and on the real estate side, where WeWork China has just unveiled an on-demand product that could tempt people who go to Starbucks to kill time or work.
That trend is picking up in Indonesia, the world’s fourth largest country and Southeast Asia’s largest economy, where an on-demand challenger named Fore Coffee has fuelled up for a fight after it raised $8.5 million.
Fore was started in August 2018 when associates at East Ventures, a prolific [...]
The McRib is a shadow: It’s there or it’s not there, depending on the position of the sun. It always follows you. For now—until it’s not—the McRib is back at most (but not all) McDonald’s, the chain announced. And just as quickly it will disappear… until it reappears.
If investors at some of the biggest technology companies are right, the next big restaurant chain could have no kitchens of its own.
These venture capitalists think the same forces that have transformed transportation, media, retail and logistics will also work their way through prepared food businesses.
The Battle Is For The Customer Interface
Investors are pouring millions into the creation of a network of shared kitchens, storage facilities, and pickup counters that established chains and new food entrepreneurs can access to cut down on overhead and quickly spin up new concepts in fast food and casual dining.
Powering all of this is a food [...]
It is one of life’s greatest joys to be useful. To perform a service. To fulfill one’s duty. To know the moment in which you, exactly you, must march into the world to accomplish one thing for the betterment of all. Reader, I was permitted to experience that exact joy today. I have walked to a McDonald’s near my home,…