Value Hive Podcast Will McLane & Max Howard (@CapitalCapi): Starbucks (SBUX), Dutch Bros (BROS), and Investing in Consumer Brands
Oct 23, 2026
Max Howard and Will McLane are Georgetown students and co-founders of Credit Capital, a student-run investment fund. They discuss Starbucks versus Dutch Bros, competitive threats, labor costs, consumer habits, and alternative data. They also explore using AI for primary research without outsourcing judgment, Reddit’s overlooked vulnerabilities, and a disciplined framework built around catalysts, signposts, and learning from mistakes.
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How Two Georgetown Investors Found Markets
- Will McLane discovered investing through data analysis, strategy, and Expectations Investing rather than childhood finance exposure.
- Max Howard grew up discussing markets with his mother and connected investing with business through his father’s hair salon.
AI Mapped Dutch Bros Store Economics
- AI enabled Capital Capital to map every Dutch Bros location, competitors, and nearby AUV drivers using satellite imagery and geospatial analysis.
- Their model identified roughly 41,000 competitors and quantified schools, baseball fields, and other location-level demand factors.
Use AI Without Surrendering Judgment
- Use AI to aggregate data and test creative research ideas, but do not outsource critical thinking or pattern recognition.
- Max Howard recommends assuming Claude can perform a task, asking it directly, and investigating where the result leads.
