The Economics of Fries & Tips (with Danny Meyer)
Summary
Preet Bharara interviews hospitality icon Danny Meyer about his new book, *What Could Possibly Go Right?*, exploring how to scale enduring culture in business. They discuss the "soil" of corporate culture, the importance of integrity, and how Meyer applied fine-dining standards to Shake Shack to redefine fast food. Meyer also reflects on failures like closing Tabla, the value of handling mistakes well, and why pursuing success directly often leads to missing it.
Topics discussed
Sponsor: Juro AI Contracting
Intro: Monday Music Club with Switched on Pop
Stay Tuned Intro: Danny Meyer and his new book
Optimism and the question 'What could go right?'
Preet's anecdote about Union Square Cafe
Ambition at 27 and entrepreneurial blind spots
Why restaurants? Family influence and love of food
The difficulty of the restaurant business
Finding your calling and what is not hard
1985 story: Early tech and restaurant operations
Simple rules for a successful restaurant
Why are there so many bad restaurants?
Market segmentation: Eat to live vs live to eat
Think like a winemaker: Focus on variables
Blameless failure and consistent quality
Learning by doing: Front door and kitchen presence
Restaurants as a laboratory for business lessons
Culture and the Diapers.com CEO anecdote
The olive oil incident: Handling mistakes well
Recovering from the olive oil incident
Mistakes well handled: Stanley Marcus's lesson
Culture as an intention
Story: The thoughtful hotel gesture
The paradox of not aiming for success
Victor Frankl quote and personal dedication
Good deals vs. good ideas: Lessons learned
Setting annual goals: Fame vs. process
Finishing the Hat: Sunday in the Park with George
Essential experiences and the pizza place analogy
Sponsor: Upwork
Sponsor: Quince
Transition to Gen Z politics discussion
Gen Z political shifts and misconceptions
Family favorite: Tabla restaurant
Indian cuisine in New York: Historical context
Closing Tabla: Financial losses and timing
Shake Shack: High-end vs. common knowledge
Shake Shack origin: Madison Square Park
Public Art Fund and the sculpture
Proving hospitality at a hot dog cart
Why the burger is better: Fine dining approach
Expanding Shake Shack: From one to many
Fear of expansion and father's bankruptcy
The Rule of 2: Quality, speed, and cost
Changing the equation: 0.65 + 0.65 + 0.70
Shake Shack's promise vs. fast food
Culture, innovation, and AI
Hospitality vs. food: Growing up
Criticism of Shake Shack fries
Fresh vs. frozen fries: Learning the hard way
Preet's agreement with Danny's philosophy
Recovering the 3rd star: NYT review
Why stars matter: Pride and impact
Morale and team motivation
Established brand vs. new restaurant reviews
Tipping reform: Fairness for cooks
Legal challenges to tip sharing
Revenue share for cooks
Tourist traffic and tipping cultures
Conclusion and recommendations
Stay Tuned: Jim Comey case preview
Criminal podcast promotion
America Actually: Latino electorate preview
Jim Comey false statements case details
Indictment on eve of statute of limitations
Dismissal due to unlawful appointment
Grand jury errors and appointment issues
Judicial questions on interim appointments
Question on civil disobedience
Support for nonviolent civil disobedience
Historical roots: Bhagavad Gita and Thoreau
Thoreau's arguments on injustice
Gandhi and King: Nonviolence and discipline
Civil disobedience is not easy
Cycle of inspiration: Gita to Thoreau to Gandhi
Outro and contact information
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