[ceejayoz]

The chain, itself, did $11B in revenue in 2020 for its ~100 stores. It's privately held, largely by the family and their friends. I certainly don't doubt they've purchased other investments with the proceeds over time, but they're making plenty.

[gruez]

>The chain, itself, did $11B in revenue in 2020 for its ~100 stores.

Revenue =/= profit. OpenAI has similar amount of revenue, but is nowhere near profitable.

>I certainly don't doubt they've purchased other investments with the proceeds over time, but they're making plenty.

The point isn't what they did with the profits, it's whether the profits are commensurate with the capital they put in (ie. return on equity).

[ceejayoz]

> Revenue =/= profit.

I’m well aware. The assertion that gets made is “oh they’re low margin!” They are. But they have massive volume. So they make lots of money still.

> The point isn't what they did with the profits, it's whether the profits are commensurate with the capital they put in (ie. return on equity).

Well, they certainly didn’t start as billionaires a hundred years ago. The profits seem fine.

I’d be very happy to be in the business of selling $1 bills for $1.02, if the customer base is big enough.