20min chapter

This Is TASTE cover image

416: Chipotle Founder Steve Ells

This Is TASTE

CHAPTER

Building Chipotle and Innovating in the Fast Food Industry

Exploring the founder's journey from STARS and the Culinary Institute of America to founding Chipotle in 1993, focusing on the emphasis on quality ingredients and the innovative assembly line model. The chapter delves into Chipotle's early challenges, menu offerings, and customer interactions, as well as the comparison with other restaurant concepts like Pizzeria Lucali and Shophouse. It also discusses the concept of automation in restaurant operations, the new plant-forward concept Colonel, and the importance of employee empowerment through technological skills, higher wages, and equity opportunities.

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Speaker 1
So there's one oe
Speaker 2
of the common common criticisms of that is, lik wa, you're making collectives on line where everyone gets a vote on every decision. That's that's never going to happen. That's not literally what you're talking about, right? No, because
Speaker 1
because of the, because of the token incentive, is why it makes it particularly unique. So, ah, you know, people, people, by way of web three and by way of dos, are now both socially incentivized, right to have what they participate and succeed, as well as financially incentivis to have what they participate and succeed. And where it becomes a little bit more full proof is that everything right on chain, on the block chain, is public, right? So, you know, i have, let's say, in etherium address a you can see dows that i'm a member of, where i vote the the nfts that i purchase, tokens that i hold, and there's movements for reputation to start to accrue there, right? So as things become a bit more public, and, you know, individual acruel starts to happen, where you're effectively valued for what you do and how you contribute, there's a much larger incentive for you to spend time and focus on you know, things that you're committing to. So where this is different then a collective is that people both socially incentivized, i e, you know, you want to, you know, be a good faith actor and contribute well, because that is effectively going to, you know, be the determinate of what you can do next, or who else wants to collaborate or participate with you. As well as the economic side. You are financially insentivized for this thing to succeed. And, you know, regulation and other things are still being discussed. So, you know, it's still early days there, but the incentive structure for it is waied different then, you know, traditional, i'd say, collector does
Speaker 2
er collector siwas some of the early days issues.

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