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[Photo News] Starbucks taps Seoul flavors
CultureKorea Herald26d ago

[Photo News] Starbucks taps Seoul flavors

Starbucks Korea said Thursday it will introduce Seoul-themed beverages — Seoul Makgeolli Cold Brew and Seoul Sunset Omija Fizzio — at 100 stores across Seoul starting Monday. The drinks reinterpret traditional Korean elements, including the aroma of makgeolli, a traditional Korean rice wine, and the sunset over palace ponds. The rollout will begin at stores in major tourist districts such as Myeong-dong, Gwanghwamun and Gangnam, as the number of foreign visitors to Korea reached a record 18.7 mi

Howard Schultz is the latest billionaire to ditch the West Coast for Miami
BusinessmarketwatchBusiness InsiderTimes of India26d ago3 sources

Howard Schultz is the latest billionaire to ditch the West Coast for Miami

Howard Schultz, the former Starbucks CEO, has moved to Florida after 40 years in Washington, becoming the latest billionaire to ditch the West Coast for Miami, a trend that includes other Big Tech executives following the passage of a 'millionaire tax' in Washington.

[Photo News] Starbucks Aerocano makes Seoul debut
BusinessKorea Herald1mo ago

[Photo News] Starbucks Aerocano makes Seoul debut

Starbucks Korea said Monday it will introduce a new Americano-style drink, called the Aerocano, which uses aeration to create a velvety foam while softening the espresso’s bitterness and body. The beverage, set for its global debut Thursday in Korea, is positioned as an alternative to iced Americanos and cold brew for customers seeking a lighter flavor profile. The move underscores the company’s effort to differentiate its offerings in a market with strong year-round demand for iced coffee, the

The founder of a huge boba chain said he opened stores next to Starbucks to get a fraction of its customers
BusinessBusiness Insider1mo ago

The founder of a huge boba chain said he opened stores next to Starbucks to get a fraction of its customers

Gong Cha's founder said he opened his first few stores in strategic locations. Smith Collection/Gado/Getty Images Bubble tea chain Gong Cha's founder said he banked on Starbucks' success to get his first customers. He said he opened stores in South Korea next to Starbucks outlets to get a fraction of its customers. The bubble tea chain now has nearly 2,200 stores in 33 countries. The founder of the bubble tea brand Gong Cha said he had a novel idea to get his first patrons through the door. In an interview with CNBC, Martin Berry, the founder and chairman of Gong Cha group, spoke about how he came across one of the chain's outlets in Singapore before it became a global boba behemoth. Berry said he and his wife pooled $2.5 million of their savings to open the first five Gong Cha franchise stores in South Korea, a venture he said was "quite terrifying." Berry quit his banking job to go all in on bubble tea. To get his first customers in Seoul, he decided to get Starbucks' help. "So my strategy was, I'm going to put a Gong Cha — the first five stores — next to Starbucks," Berry told CNBC. "And if I can get one in a hundred people who are going into Starbucks to come and try a Gong Cha, then I've got a business." Gong Cha was founded in Taiwan in 1996 by Wu Zhenhua, and Berry entered the business in 2011 to expand the brand to South Korea and other countries. As of January, the chain had about 2,200 stores in 33 countries, including the US and Canada. The chain is known for its fragrant, fruity teas and its milk foam topping. Bubble tea brands have seen large success in recent years, with several making splashy IPOs. Mixue, the world's largest fast-food chain that sells cheap bubble tea and ice cream, has more than 45,000 stores worldwide and just opened its first outlet in New York City at the start of the year. It went public in Hong Kong last March, with its stock jumping 30% from its IPO price at market open. Other Asian beverage brands, like Luckin Coffee, have positioned themselves as Starbucks' rivals, offering similar drinks at lower prices. Luckin Coffee expanded to the US last year, with several outlets in NYC. Read the original article on Business Insider

Starbucks takes spending crown, Mega Coffee leads visits in Korea
BusinessKorea Herald25d ago

Starbucks takes spending crown, Mega Coffee leads visits in Korea

Starbucks ranked as the food and beverage retail brand with the highest total spending by Korean consumers, while budget coffee chain Mega Coffee recorded the most transactions, according to data released Friday by market analytics firm Wiseapp Retail. Based on a sample analysis of Korean credit and debit card payments, Starbucks topped the list of food and beverage retail brands by total payment value over the six months from September 2025 to February 2026. When Starbucks’ spending was indexed

Stephen Colbert on Kristi Noem: ‘A domestic terrorist who deserves to go to Gitmo’
PoliticsThe Guardian1mo ago

Stephen Colbert on Kristi Noem: ‘A domestic terrorist who deserves to go to Gitmo’

Late-night hosts addressed Trump firing the DHS secretary, rising US gas prices and Robert F Kennedy Jr’s crackdown on Dunkin’ On Thursday night, late night-hosts celebrated Kristi Noem’s firing, criticized Maga’s handling of the war in Iran and raised an eyebrow to Robert F Kennedy Jr taking issue with sugary Starbucks drinks. Continue reading...

Iced Americano obsession made Korea 'obvious choice' for launch of Starbucks' Aerocano
CultureKorea Herald1mo ago

Iced Americano obsession made Korea 'obvious choice' for launch of Starbucks' Aerocano

Starbucks said Korea was a natural starting point for the launch of its new Aerocano drink because of its deeply rooted cafe culture that embraces iced Americanos at any time of the year. The global debut of the Aerocano is set for Thursday. The drink is made by injecting air into iced espresso, creating a creamy texture and lighter mouthfeel and producing a cascading, waterfall-like effect as microscopic bubbles form a velvety foam. From 2023 through 2025, iced Americanos accounted for more tha

Miami is not the next Silicon Valley. It's something much weirder.
BusinessBusiness Insider1mo ago

Miami is not the next Silicon Valley. It's something much weirder.

Kevin Dietsch/Getty Images; Getty Images; Rebecca Zisser/BI Tech's elite are taking their talents to South Beach — again. In January, David Sacks, the venture capitalist and crypto and AI czar, proclaimed that Miami will soon replace New York City as America's financial capital. Stripe's Patrick Collison has been marveling at the city's "boomtown" vibes. With California flirting with a one-time tax on billionaires, said billionaires like Larry Page, Sergey Brin, and Mark Zuckerberg are buying oceanfront mansions. And on Tuesday, Palantir announced that it's moving its headquarters from Denver to Miami. Is Miami the next Silicon Valley? We've been here before. The pandemic sent waves of coastal workers to the city, turning it into a Zoomtown full of online venture capitalists like Keith Rabois and Delian Asparouhov, bitcoin bull runners, and purveyors of the finest NFTs. Billboards went up in San Francisco featuring a mock tweet from then-Miami mayor Francis Suarez: "Thinking about moving to Miami? DM me." Here's the thing: It's easy to fall for Miami when a big chunk of the workforce is stuck at home and online. Five years later, it's a lot harder to build companies there. "Miami is great three months out of the year," says one prominent venture capitalist who moved to the city during the pandemic but is now returning to an established hub. While the Floridian tax benefits are real, the investor has found that the social scene hollows out in the summer as residents leave, making it "hard to build roots or have reliable friends." More critically for the startup ecosystem, the scene lacked the "hustle" of San Francisco or New York. Silicon Valley practically runs on a conveyor belt from Stanford and Caltech to Y Combinator's Dogpatch offices. The machine turns students into founders, builders into companies, and companies into the next wave of founders. Miami, meanwhile, lacks a major university to pipe in tech talent. Instead, the investor says, the city tends to attract people who have already "made it." Miami and Fort Lauderdale-based startups raised $3 billion in 2025. Bay Area-based startups raised $177 billion. The Miami market, while busy, significantly lags behind the major hubs. Startups in the Miami-Fort Lauderdale metro raised about $3 billion in 2025, per PitchBook, down from $8.6 billion in 2022, when money and crypto sloshed about. The Bay Area, by contrast, still grabs 52% of the nation's venture funding, with $177 billion in capital pouring in last year. Alligators may be all around in Miami, but unicorns are hard to find. In January, Cast AI, a startup that helps companies cut cloud costs, crossed the $1 billion valuation mark, becoming the region's first homegrown unicorn in years. Before that, Adam Neumann, the ousted WeWork cofounder, debuted his Miami residential real-estate venture, Flow, at a $1 billion valuation in 2022. Even Garry Tan, the Y Combinator president and gadfly who's usually first in line to dunk on San Francisco's politics, has been blunt about where the breeding grounds are best. Tan recently said on X that the accelerator still hasn't opened offices outside the Bay Area because founders are simply more likely to build unicorns there. According to a Business Insider analysis of Crunchbase data, of the at least 97 new unicorns that investors minted in 2025, 43 of them were based in the Bay Area. But those who dismiss the city entirely miss the point. Miami isn't the next San Francisco. It's establishing itself as something else. Patrick Murphy, a former Florida congressman and entrepreneur, says that Miami's tech scene is growing, it's just being built in "reverse order." Silicon Valley, he says, emerged from an if you build it, they will come approach: Engineers built great companies first, which eventually created fortunes that cycled back into the community to fund the next generation of companies. Miami, however, has a more if you come, they will build it tact. It's attracted the "wealth achievers" first — the family offices, private equity names, and already-successful founders who emigrated for lifestyle reasons. Finance heavyweights like Citadel and Thoma Bravo arrived early. Vanguard, one of the world's largest asset managers, is eyeing an expansion in Miami as it targets more Latin American wealth. The city is now importing the machinery that follows them. Legal, accounting, and consulting firms are opening local offices to stay close to clients — and scoop up star talent that no longer needs to live near HQ. This dynamic has established Miami as a "control center" for decision-makers, Murphy argues, but not yet the "factory floor" where the actual work gets done. Murphy says that despite running a successful construction-tech startup, Togal.AI, his engineering team has been offshore from the beginning because the local talent pool simply "didn't exist" when he started in 2019. "If you go to Miami, you're not going to see dozens of engineers at a Starbucks cranking away," he says. "That's not here yet." Still, Miami's flood of wealth is creating demand for startups built on the city's local economy, especially in property tech and fintech, Murphy says. Togal.AI's annual recurring revenue has grown 1,000% over the past two years, Murphy says, and is now raising fresh venture funding in order to hire dozens of new employees this year. Palantir's move immediately became a kind of Rorschach test for Miami's future. "Florida is the new crypto," one user wrote on X. Maya Bakhai, a Fort Lauderdale resident and founder of the early-stage venture firm Spice Capital, tells me that the city will flourish alongside "net new" industries that are still taking shape and where the center of gravity isn't locked in yet. Crypto firms like MoonPay and QuickNode still treat South Florida as a home base, she notes. A new space-tech accelerator backed by the state is trying to persuade founders to stick around by pairing them with funders. Bakhai's bigger bet is that just as New York became the hub for e-commerce, Miami could become the place where creator businesses get built. Research out of the University of Hong Kong found Miami has more top influencers per capita than New York or Los Angeles. And then there's Palantir, the strongest signal flare yet that tech is taking America's Playground seriously. It's hard to know what the data giant's HQ move will mean in practice — Palantir hasn't said how many employees it plans to relocate, or whether it will offer moving packages to lure talent south. The company did not respond to an email request for comment. If Palantir does move a meaningful slice of its workforce, it would give Miami something it's been short on: a marquee tech employer that can recruit and keep technical workers on the ground year-round. On X, Palantir's move immediately became a kind of Rorschach test for Miami's future. ""Florida is the future," cheered Andreessen Horowitz investor Katherine Boyle. Others were less convinced. "Florida is the new crypto," one user wrote. "For the next 20 years, nothing will change, but they will always tell you 'big things are happening in Florida.'" Turning Miami into Silicon Beach is a long game, Bakhai argues. It won't be built by the billionaires buying houses to snowbird in today, she argues, but by the young strivers arriving for their first serious jobs — the entry-level analysts heading to Citadel and the junior lawyers starting at firms like Orrick. For the first time, she says, ambitious graduates can launch careers in Miami instead of treating New York or San Francisco as the default. The payoff, she says, comes years later, when they eventually spin off to start their own companies. Until then, Miami remains largely a playground for the "made it" crowd, waiting in the sun for the builders to come. Melia Russell is a reporter with Business Insider, covering the intersection of law and technology. Read the original article on Business Insider

Gen Z is taking over restaurant loyalty programs — and forcing brands to adapt
BusinessBusiness Insider1mo ago

Gen Z is taking over restaurant loyalty programs — and forcing brands to adapt

Lisa Werner/Getty Images Gen Z now leads restaurant loyalty signups, reshaping rewards programs. Survey data shows that diners will switch brands for better, faster loyalty perks. QSR giants are doubling down on digital rewards to win Gen Z — and it's paying off. Gen Z isn't just signing up for restaurant loyalty programs. They're raising the bar for how those programs have to work. By 2024, nearly half of all new loyalty program signups came from Gen Z as the cohort overtook millennials as the most active generation in restaurant rewards programs for the first time, according to data from PAR Punchh, a loyalty program software from the foodservice tech company PAR Technology. That number has only increased as more and more of the generation, aged 14-29, start flexing their spending power. "Gen Z isn't just participating," Savneet Singh, PAR's CEO, told Business Insider. "They're redefining loyalty." National data backs up just how central these programs have become for this generation. Gen Z consumers make up a higher-than-average share of restaurant customers who say being a member of a loyalty or rewards program is important when choosing where to eat, the National Restaurant Association's 2026 State of the Restaurant Industry report showed. That holds true across dining behaviors — whether they're eating in, ordering delivery, or grabbing takeout — and across segments, from drive-thru and limited-service chains to full-service restaurants. Singh argues that the generational takeover is structural, not cyclical. Gen Z grew up with smartphones and came of age during a pandemic that turbocharged mobile ordering and digital payments. For them, digital ordering, real-time rewards, and seamless app experiences aren't just perks — they're table stakes. "When loyalty is frictionless, Gen Z shows up," Singh said. "When it's clunky, they move on immediately." Rewards programs are no longer optional New survey data from PAR underscores the significance of loyalty programs for consumers. In a December report based on a survey of 1,000 US diners, nearly 70% said loyalty programs help them manage costs in today's inflationary environment. One-third said they're using restaurant loyalty programs more often because of economic pressure, and another third said their usage has held steady. A good deal from a rewards program can make all the difference. One in four respondents said they'd switch to a less-preferred restaurant for better loyalty perks, and half said they compare offers before deciding where to eat. How restaurants respond to that demand defines which formats resonate most with younger diners. PAR's platform data shows Gen Z over-indexing at quick-service restaurants like McDonald's and Taco Bell. In 2024, they accounted for more than a third of check-ins at QSR brands, compared with 20.8% at fast-casual restaurants like Chipotle and Panera Bread. Singh said the appeal is execution: speed, price, convenience, and integrated loyalty perks in one place. Fast casual establishments, by contrast, can sit in "an awkward middle ground" — not as convenient as QSRs and not as experiential as full-service dining. In a crowded landscape where PAR found that over half of consumers prefer managing no more than five loyalty accounts, clear value and seamless execution can determine which brands make the cut. And the chains that embrace the generational trend are already seeing the payoff. Taco Bell delivered 7% same-store sales growth in the fourth quarter, driven in part by transaction gains, especially among younger customers. The Mexican chain's active loyalty members climbed 31% in 2025, and digital channels saw double-digit growth, as app-exclusive drops and rewards nudged its core customers to visit more often. CEO Sean Tresvant told Business Insider earlier this month that "loyalty is going to continue to be a big story for us," adding that Taco Bell will be "really leaning into" its rewards strategy going forward. McDonald's is also leaning heavily into digital engagement. On its fourth-quarter earnings call on Wednesday, CFO Ian Borden described active loyalty membership as the company's "single most important digital metric." McDonald's has about 210 million 90-day active loyalty users across 70 markets, and 46 million active users in the US, he added. Borden said that, in the US, customers visited 10 and a half times in the year before joining the loyalty program — and 26 times in the year after. "When we get consumers into our loyalty program, they visit more often, they spend more over time, and they interact with us more frequently, so they get more value in their interaction with us, and we get more value by them interacting with us," Borden said. Starbucks also recently revamped its rewards program, bringing back its tiered system, extending the window for members to redeem their free birthday reward, and introducing a quicker-to-earn tier that lets customers redeem 60 Stars for $2 off any purchase — a move that lowers the barrier to instant gratification, which Singh said is particularly appealing to Gen Z. That kind of immediacy matters. PAR's survey found that discounts and free items or upgrades remain the most influential rewards, while more than half of respondents said better reward value, such as a surprise free item after a large order, would prompt them to switch programs. For Singh, the takeaway is clear: loyalty is less about points and more about performance. The brands that make participation effortless, deliver instant value, and respect privacy boundaries won't just win Gen Z — they'll define the next era of dining. Read the original article on Business Insider

Starbucks Expands Employee Benefits and Divests China Business Stake
FinanceReutersmarketwatch4d ago2 sources

Starbucks Expands Employee Benefits and Divests China Business Stake

Starbucks is enhancing compensation for its US baristas by expanding weekly pay and introducing additional tips and bonuses, while also announcing a deal to hand off a significant portion of its China store business to an investment firm, though these moves did not boost the company's stock.

Coffee King Howard Schultz Flees To Florida Hours After Washington Wealth Tax Passes House
Politicszerohedge26d ago

Coffee King Howard Schultz Flees To Florida Hours After Washington Wealth Tax Passes House

Coffee King Howard Schultz Flees To Florida Hours After Washington Wealth Tax Passes House Yet another rich guy is fleeing their Democrat-controlled state over a new wealth tax. Former Starbucks CEO Howard Schultz, a huge liberal himself, announced that he's moving from Washington state to Miami, Florida - hours after state lawmakers advanced a tax bill targeting residents earning over $1 million per year.  Schultz, 72, who bought the company in 1987 and built it into the glo...

Starbucks' new spring menu includes drinks made with ube, lavender, and coconut. Here's how they taste.
BusinessBusiness Insider1mo ago

Starbucks' new spring menu includes drinks made with ube, lavender, and coconut. Here's how they taste.

Starbucks has released three new spring drinks with ube, lavender, and coconut flavors. Katherine Tangalakis-Lippert Starbucks released three new spring drinks. We tried the Iced Ube Coconut Macchiato, Toasted Coconut Cream Cold Brew, and Iced Lavender Cream Chai. The Iced Ube Coconut Macchiato was colorful and surprising. Starbucks may be in its wellness era, but that doesn't mean it's giving up on sweet drinks. After finding success in the fall with protein lattes and cold foam — which St...