Masters of Scale Rapid Response: How Covid lessons get tested by inflation, w/Shake Shack founder Danny Meyer
Sep 29, 2022
Danny Meyer, the visionary founder of Shake Shack and Union Square Hospitality Group, shares his journey of resilience through the pandemic and ongoing inflation. He reveals the drastic cuts made during COVID and the challenges he's faced in rebuilding his team. Meyer emphasizes the importance of innovative leadership, exploring hiring strategies that look beyond traditional resumes. He also discusses how inflation has transformed the restaurant industry, sparking new opportunities for adaptation and growth.
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COVID-19's Impact on Restaurants
- Danny Meyer discusses the impact of COVID-19 on his restaurant group, including temporary closures during Omicron.
- He highlights the challenges of adapting to evolving customer habits and the emotional impact of the pandemic.
Pandemic's Influence on Succession
- The pandemic delayed Danny Meyer's planned transition to Executive Chairman at Union Square Hospitality Group.
- He prioritized stability during the crisis before focusing on strategic opportunities.
Two Types of Problems
- Recalling the early days of the pandemic, Danny Meyer reflects on making difficult decisions in a small, dimly lit room.
- He frames these as two types of problems: genuinely tough ones and unpleasant but solvable ones.