#429: Nick Kokonas on Resurrecting Restaurants, Skin in the Game, and Investing

4 snips

May 6, 2020

Nick Kokonas, co-owner of the renowned Alinea Group and CEO of Tock, shares his innovative approach to the restaurant industry. He discusses how Alinea thrived amid the pandemic by transitioning to a successful carry-out model. Kokonas dives into concepts like asymmetric risk and the importance of financial adaptability in challenging times. He emphasizes the need for creativity and emotional connection in dining experiences, while highlighting his journey as an entrepreneur eager to challenge norms in hospitality.

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ADVICE

Contingency Planning

Make contingency plans for different scenarios, like reduced demand or mandated closures.
This allows for easier decision-making during a crisis.

ADVICE

Employee Communication

Treat your employees with respect and transparency, especially during crises.
Be upfront about the severity of the situation and the steps you are taking.

ANECDOTE

Alinea's Pivot to Takeout

Alinea, known for its high-end dining experience, had to adapt to takeout during the pandemic.
Nick Kokonas pushed for affordable comfort food to appeal to a wider audience.

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