Crypto Impact on Restaurants

Restaurant Revitalization Fund is dropped from omnibus spending bill as hope for relief dwindles. The second round of restaurant relief will not be included in the omnibus spending bill expected to be voted on by Friday. The rallying cry for a last-ditch effort to include another round of the Restaurant Revitalization Fund in President Biden’s spending package was led by Senate Small Business chair Sen. Benjamin Cardin (D-Maryland) and Sen. Roger Wicker (R-Miss.) in February. Torchy’s Tacos founder Mike Rypka is back as CEO, the company said Thursday.

Fresh Mex Moves with Torchy's

Rypka was serving as interim CEO for the Austin, Texas-based chain following the retirement of former CEO GJ Hart, which was announced in November. Before launching Torchy’s, Rypka was a corporate chef for several fortune 500 organizations MTV Studios, Disney Animation, and Dell. The chain took on a new group of new investors in 2020 that included private-equity firm General Atlantic, as well as D1 Capital Partners, T. Rowe Price, Lone Pine Capital and XN.

Chippy Chipotle

Chipotle has recruited a mechanical employee to take the weight off the hard-working humans. The new recruit is called Chippy and has been given the all-important task of making the Mexican food chain’s tortilla chips. Chippy will be helping with staff shortages and combating inflation as we see more and more tech use with fast-casual concepts.

Chippy’s first shift at Chiptole will take place in its test center in Irving, California. Chippy is a product of Miso Robotics, whose other business partners include the aforementioned Buffalo Wild Wings and the Dodgers baseball franchise. Chipotle, they gave their own reasonings behind their new hire: “We are always exploring opportunities to enhance our employee and guest experience. Our goal is to drive efficiencies through collaborative robotics that will enable Chipotle’s crew members to focus on other tasks in the restaurant.”

McD Goes All-In On Podcasts

Podcast growth has led to increased attention to and investment in podcast networks that can better connect advertisers with diverse creators to reach these audiences. SiriusXM this month signed an exclusive deal with reVolver Podcasts, a network that specializes in Spanish-language podcasts. Earlier this year, Pod Digital Media, a full-service agency for multicultural podcasters, signed a three-year, eight-figure ad deal with McDonald's as the QSR giant seeks to invest in diverse media partners.

In 2022, 51% of the population has listened to a podcast and roughly 78% are familiar with the medium.

Podcast listeners increased by 29.5% from 2018 to 2021.

Over one-third (104 million) of Americans listen to podcasts regularly.

According to Edison Research, 41% (116 million) listened to a podcast in the last month.

28% (80 million) of Americans are weekly podcast listeners.