A 20-year-old founder who achieved a $100M exit, discussing the journey and implications of such a significant event in his startup.
A 20-year-old founder who achieved a $100M exit, discussing the journey and implications of such a significant event in his startup.
The lady who baked it all isn't your snowy-haired grandmother. Debra Fields just turned 26. It looks like she should be on a Vogue cover rather than baking up new ideas in her kitchen. A confirmed chocoholic, Mrs. Fields grew up in Oakland. Six years ago, she met Randy Fields, an investment adviser. Obviously, he had the right last name for business, so they married and he supported her initial store. The first day she made $50. Within a year, the Pier 39 operation opened and her chocolate chip success followed. She had resisted expansion initially because of the concern over quality control. All of the ingredients are made to her specifications, shipped pre-measured to each store. She hasn't franchised the operation to ensure that control. Mrs. Fields says her reputation is at stake every day. She's continually making spot checks and has been known to throw out a day's worth of cookies
if they don't meet her standards. Mrs. Fields asked you, "What are these cookies supposed to be?" Soft, chewy, and warm. Okay. I have to be the judge on that. All right. Okay. This is very difficult. They are warm. They are soft. Mhm. I like chewy. You got a hit here. Oh, good. We believe that we need to do something for our community, meaning that it's not how many cookie stores you build, it's what have you done for society. I guess when it's all said and done in my lifetime, if I look behind me and I said, "Have I done something for my community that was worthwhile? Not cookies, but maybe a fundraising event like Susan G. Komen Breast Cancer was the number one largest corporate sponsor." Then I know that I'm succeeding in my life and I