uber for coffee (literally)

Added: 2026-05-28

[00:00:00]Okay, so we've talked about how Quince is a tech company that happens to sell luxury goods, not a luxury company that happens to use technology. And in that vein, Blank Street is a tech company that happens to sell coffee, but they're not the first or only. Here's the breakdown. Hi, I'm Suzy and this is Rats College University, where we're ready, resourceful, and educated today so that we can be rich tomorrow. So, I didn't realize that not everyone knew this, but Blank Street has actually raised over $135 million in venture funding. While venture investors typically do avoid brick-and-mortar and asset-heavy businesses, this is not actually that surprising given the very success of other venture-backed coffee brands like Blue Bottle, which is selling for $400 million, Luckin Coffee, which is trading at a $10 billion market cap on an OTC market. There's a lot more Laura with Luckin, actually, so let me know if you want me to cover that. Fundamentally, the bet here is that one, quick-service coffee is a huge industry. Starbucks is worth $112 billion. And two, technology and data will drastically improve the unit economics and operational efficiencies of these businesses. For example, these coffee brands use automated espresso machines to reduce head count, mobile apps for direct data capture, and in Luckin's case, robust data analytics and AI to predict demand, test new products, optimize inventory management. As someone that works in tech myself, and honestly just a curious rat, I do think a lot about the technocratic ethos of companies like Quince, Blank Street, and Luckin that are selling consumer goods supposedly made better, faster, and more efficient with tech and data. Does it flatten the richness of cultural dimension? Does it make our lives more convenient and inexpensive? Does it make our day better or worse? I don't know the answers, but comment your opinions on Blank Street below and tell me what other brands I should cover.