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patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

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Patrick McKenzie

@patio11

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

東京都 Tokyo
kalzumeus.com
Joined February 2009

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    1. Patrick McKenzie‏ @patio11 8 Aug 2019
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      “Isn’t the market for X saturated?” After literally years of being told that by technologists about software, books, etc etc I can’t think of almost any market which has ever been saturated in the way that people claim every market is saturated. Freaking *Starbucks* is not.

      10 replies 46 retweets 290 likes
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    2. Patrick McKenzie‏ @patio11 8 Aug 2019
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      Starbucks of the industry-leading commercial real estate team which will give serious consideration to putting two Starbucks on the same street corner to avoid losing potential Starbucks customers who were at that street corner wanting Starbucks but not enough to turn for it!

      5 replies 5 retweets 98 likes
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      Patrick McKenzie‏ @patio11 8 Aug 2019
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      Tagging the above tweet as being in no way sarcastic; they factually are one of the best real estate operations in the US (Walgreens and McDonalds also very good at this even within their categories) and they absolutely will take two corners.

      7:03 AM - 8 Aug 2019
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      • 69 Likes
      • Chad Huber brian Matt "MSG superfan" Olson David Slifka keith.js Paul 😷 Cavallaro dew Eli Courtwright the reluctant optimist
      9 replies 3 retweets 69 likes
        1. New conversation
        2. Edward Vielmetti‏ @vielmetti 8 Aug 2019
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          Replying to @patio11

          Famously, @TheOnion 1998 "New Starbucks Opens in Rest Room of Existing Starbucks"https://www.theonion.com/new-starbucks-opens-in-rest-room-of-existing-starbucks-1819564800 …

          1 reply 0 retweets 6 likes
        3. Media: Listed‏ @readr84 8 Aug 2019
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          Replying to @vielmetti @patio11 @TheOnion

          https://www.theonion.com/starbucks-to-begin-sinister-phase-two-of-operation-1819565956?utm_medium=sharefromsite&utm_source=theonion_copy&utm_campaign=top …

          0 replies 0 retweets 1 like
        4. End of conversation
        1. Louis-André Labadie‏ @Lalabadie 8 Aug 2019
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          Replying to @patio11

          Most drug store success is won in real estate. From a former client (a chain): You can build on a lot that's off-by-one from an existing pharmacy's street address. The traffic can be 2-10x the other side, which you'd have previously estimated as the "total" customer base there.

          0 replies 1 retweet 1 like
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        1. Liz is likely playing Animal Crossing‏ @_lizardbird_ 8 Aug 2019
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          Replying to @patio11

          100%. I once heard a tale about a company who built a portable solar-powered water filtration device but was struggling with international distribution and logistics to get it to the areas that needed it most - remote, desert, etc. You know who was able to help them? Coca-cola.

          0 replies 0 retweets 2 likes
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        1. Daniel Franke‏ @dfranke 8 Aug 2019
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          Replying to @patio11

          I wonder what's the relative cost of two adjacent Starbucks equipped and staffed for half as many customers versus just one consolidated one.

          0 replies 0 retweets 1 like
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        1. Ken Wallace‏ @boaticus 8 Aug 2019
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          Replying to @patio11

          There’s a stretch of US30 in Dyer, IN that has THREE identical Speedway gas stations within the same 200-yard stretch (one on the S side of the road, two on the N side) for exactly this reason.

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        1. PoliTex‏ @PoliPat1 8 Aug 2019
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          Replying to @patio11

          Look. If you drive to work, a Starbucks on the wrong side of the street is USELESS.

          0 replies 0 retweets 1 like
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        2. Pete Keen‏ @zrail 8 Aug 2019
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          Replying to @patio11

          Also tangential but interesting to note that (iirc) every standalone store is company owned, unlike McDonalds. Stores in airports and grocery stores are franchises. I *think* McDonalds owns the property and sells ground leases to operators? At least that's how it used to work.

          1 reply 1 retweet 0 likes
        3. Alex Hillman @Home  💛 🏡‏ @alexhillman 8 Aug 2019
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          Replying to @zrail @patio11

          Yup, that’s how McDonalds works (not 100% of the time, but a large %). The real estate assets of McDonalds is worth over $30B with a B.

          0 replies 0 retweets 0 likes
        4. End of conversation
        1. Huge Heffer (Antibishonen)‏ @antibishonen 8 Aug 2019
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          Replying to @patio11

          I remembered the McD one. The real estate empire happened because Kroc was on the verge of bankruptcy.

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