From Yahoo News:
Jet founder Marc Lore explains why now's the time to disrupt the food industry
When you want to disrupt an industry, timing matters. Serial entrepreneur Marc Lore would know — in 2016, Lore's Jet was famously acquired by Walmart (WMT) for $ 3.3 billion and, six years prior, his Diapers.com sold to Amazon (AMZN) for $545 million. While he began his career as an e-commerce innovator, Lore's latest venture, Wonder, is all about re-thinking a very different industry: food.
“If you think about the last innovation in food, you have to go back to the fast food franchises in the 1950s,” he told Yahoo Finance after his talk this week at TechCrunch Disrupt. “McDonald’s, Burger King, Kentucky Fried Chicken, and Wendy’s, all of these fast food chains boomed at the same time. I think the country was ready for it; the timing has to be right.”
Wonder is a food delivery startup co-founded by ex-Walmart exec Scott Hilton and Lore, who serves as chairman and CEO of Wonder Group. The company, which came out of stealth mode in 2021, closed a $350 million funding round earlier this year that brought Wonder's total amount of debt and equity raised to $900 million. The company's valuation in June accordingly shook out to $3.5 billion, according to The Wall Street Journal.
Wonder has often been described as a cross between ghost kitchen and food truck. Why does Lore say he's confident that model can work? In part, it's because our relationship to food and time has evolved since the '50s, when fast-food became popular....
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Marketed to whom? Guys whose priapism makes a walk to the corner store less than comfortable?
Shakes the Clown meth-binging and frenetically making balloon animals?
Who needs the service?
See also "Smartphone-Enabled 3D Replicators Are Still 3-5 Years Away, Caltech Professor Says":
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