This lunch is 500 yen ($4.80) at Sukiya, a Japanese fast food restaurant which belongs to a category with about three big competitors.

I love the aesthetics of this category and they’re under remarked upon.

I think people underestimate QSRs in terms of social utility, but Sukiya et al describe themselves as mission-oriented enterprises. I believe this is largely sincere, and goes back to the 60s and 70s, when the clientele was primarily manual laborers who had migrated to work.
Japan was not a rich nation at the time, and day laborers in particular were both unlikely to be able to cook for themselves and unlikely to have much of a food budget, and so the chains sprung up offering an honest-to-goodness cooked meal delivered in under a minute for cheap.
This heritage continued over the years, even after Japan became a much more wealthy nation, and these chains function as social support and dignity for folks in diminished circumstances.

They also are a wee bit of a cartel, and I appreciate the aesthetics of the cartel:
Back when I was first in Japan, in the mid 2000s, there was an increase in the price of beef.

And the heads of the three chains got together, and decided that the price of the basic beef bowl needed to increase, but given the economic circumstances how could they hold the line.
And what they came up with, from memory, was:

“We are very sorry, given the economic environment, to raise the price from 165 yen to 180 yen, but we are doing our level best to keep it there, and have mutually decided that approximately one yen of margin is appropriate.”
(That dish is, 15 years later, about 350 yen here. I thought there was a +/- 250 yen option still available, and the mini size is around there, but historically the political economy of the dish was based off that offering. I’m slightly disappointed seeing it at 350.)
Oh a fun foodtech (really!) thing I wish caught on more in the US:

If your offering is “I plate a bit of five big pots of things I cooked in the morning and keep heated as serving temperature all day” you can get the offering almost arbitrarily cheap.

Explains bowls, curry, etc
It doesn’t take more training to prepare rice than it does to prepare a McDonalds burger but by definition the only thing in rice is rice, and the only thing in the egg is egg, etc. (There’s a bit of seasoning/sauce on the beef, prepared centrally. Only prep here is heat + plate)

More from Patrick McKenzie

I like this heuristic, and have a few which are similar in intent to it:

Hiring efficiency:

How long does it take, measured from initial expression of interest through offer of employment signed, for a typical candidate cold inbounding to the company?

What is the *theoretical minimum* for *any* candidate?

How long does it take, as a developer newly hired at the company:

* To get a fully credentialed machine issued to you
* To get a fully functional development environment on that machine which could push code to production immediately
* To solo ship one material quanta of work

How long does it take, from first idea floated to "It's on the Internet", to create a piece of marketing collateral.

(For bonus points: break down by ambitiousness / form factor.)

How many people have to say yes to do something which is clearly worth doing which costs $5,000 / $15,000 / $250,000 and has never been done before.

More from Food

Recent @SushiSwap Youtube AMA Summary Thread.

1/ Bento timeline - New lending solution that focuses on isolated lending pairs, flexible oracles, targeted interest rates, gas optimization and flash loans. Aiming for early to mid Feb. Bento Explainer here:

2/ UI changes - Deprecating and consolidating onto one domain. New UI will cover all features. Longer term a Sushi Plugin is planned. Making it easy to incorporate Sushi into an App or website. Will attract new users (Stripe did this very well btw).

3/ Integrations with @tradingview coming. Merging of API with their trading system on Sushi trader . Will enable live Stream of prices.

4/ Collaboration & partnerships with @iearnfinance and others are to ensure they are all pushing in the same direction. Everyone helping eachother, nothing formal. Everyone sharing ideas.

Going to fill this thread with the updated final numbers

Prior threads are here –

➡️ Foodraiser history thread:

➡️ Initial 6th Annual data thread:

➡️ 6th Annual results photos + video thread:

You'll recall that we had to buy a sh*tload of grocery bags that were not included in our initial data thread

And then had to buy another sh*tload the next day 🤦‍♂️

Those paper bag runs added $386.94 to the expenditures ($193.47 x 2)

That put the grand total spent at $55,426.68:
➡️ $10 for cashier's check
➡️ $55,029.74 for food
➡️ $386.94 for bags

The Bag Fund donations exceeded what we needed though, so we capped 2020's #'s at actual expenditures and will hold the rest for 2021 (more on that down-thread)

Counting the new donors who contributed to The Bag Fund, and de-duplicating the folks who'd already donated to the main fundraiser, we ended up with 825 total donors

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