Writing · Book / Reading / Learning
Dear Apartment Industry,
We need to have a conversation about Taco Bell.
I know. I know. You don’t want to read a LinkedIn post comparing your $4 trillion industry to a fast food chain that sells a Crunchwrap for $5.99. I get it. I didn’t want to write it either.
But here’s what happened. I read an article last week about their new Cantina Chicken Mexican Pizza. And it hit me. The same company selling tacos out of a drive-thru window has launched more genuinely new products in the last ten years than every multifamily REIT combined. They make $1 billion in operating profit doing it. And nobody in our industry has noticed because we’re too busy putting “reimagined” in our press releases.
Sit down. Pour something. This is going to sting a little.