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A successful VC predicts what the next 10 years in the venture capital industry will look like

Venture capital founding partner Alex Witt's headshot.
Alex Witt said venture capitalists have an unprecedented chance to back five transformative technologies: Generative AI, robotics, autonomous electric vehicles, blockchain, and biotech.

Courtesy of Alex Witt

  • Founding partner Alex Witt shared three venture capital predictions for the next decade.
  • Witt says that managers who've launched less than three funds will get more attention.
  • He also says that five key technologies and the African market will see more investments.

Since venture capital funds plummeted from 2021 to 2023, VCs are looking for ways to stop the pain and regain a sense of control over their future. Still, many VCs predict the industry will significantly decline in 2025 due to high interest rates.

Alex Witt, general partner at Verda Ventures and cofounder of the payment platform SWFT Blockchain agrees with recent predictions. Based on his 14 years of experience in finance and technology, Witt also gave Business Insider three more core predictions for the VC industry's next decade.

He believes technological opportunity combined with changing demographics will shape the VC experience over the next 10 years, creating more investment space for emerging managers, five key technologies, and Africa.

1. Emerging managers will drive the highest returns in the next decade

As limited partners recognize that successful Fund 1s don't necessarily translate into successful Fund 2s or 3s, the VC landscape will see a greater focus on new managers who've launched less than three funds.

"Emerging managers have been traditionally underfunded despite their success," Witt explained.

For context, Witt explained that larger funds have a track record of underperforming: only 17% of funds larger than $750 million return over 2.5 times of capital. Yet smaller funds have been proven to consistently outperform.

"Funds under $249 million are disproportionately represented in the top decile and quartile of performers," he said. Witt explained that targeting smaller, high-performing funds will be critical for future success.

2. VCs have an unprecedented chance to back five transformative technologies

According to Witt, we're entering a new "industrial renaissance" fueled by breakthroughs in five key technologies he believes have massive VC potential.

  • Generative AI: Witt predicts that key players in this arena will be companies with unique datasets, such as Google with YouTube data and xAI with X and Tesla data. Generative AI will even affect the finance and pharmaceutical industries.

    "Some impacts of generative AI to watch for include drug discovery with even faster trials and finance with real-time, data-driven trading.

  • Robotics: Witt pointed to innovations like generative AI-driven physical AI β€” for example, Nvidia β€” and referenced Tesla. "Market leader Tesla is positioned to dominate this area with its 'robots on wheels' approach to manufacturing."
  • Autonomous electric vehicles: Witt said Chinese carmaker BYD stands out as a global leader in data access and scalable manufacturing. "In terms of cost impact, more than 70% of Uber ride costs are labor-related, and autonomous transport will significantly reduce expenses," he said.
  • Blockchain: Accessibility is an area to watch in blockchain. Witt said blockchain enables low-cost, borderless transactions, and more markets are using it. "For example, MiniPay, the #1 app in Kenya, surpassed Facebook and Instagram in downloads."
  • Biotech: As an emerging technology, Witt explained that gene-based therapies offer precision treatments for inherited or environmental genetic abnormalities. "As examples, Moderna's mRNA success foreshadows the broader potential of CRISPR and similar technologies," he said.

"This era is reminiscent of the early 20th century's transformative, broad-based innovations like electricity and the internal combustion engine," Witt said. For VCs, Witt believes the coming decade marks a rare chance to back category-defining companies in emerging industries β€” but he emphasized that success won't come easy.

"VCs will face the challenge of identifying category-defining winners," Witt said. "As history shows, industries tend to consolidate around one or two dominant players, with only a small fraction of companies emerging as leaders β€” think Amazon and Google among the dot-com era's 500 IPOs."

3. Africa and the Global South will lead in VC-backed innovation

Beyond technology, Witt stressed that demographics are a critical and often overlooked factor shaping VC trends. He projects that population dynamics will increasingly determine the locations where innovation thrives.

"Demographics are destiny," Witt said.

He predicts that VCs will increasingly allocate capital to the Global South, particularly Africa, due to its "explosive" consumer and market growth potential.

"This shift will redefine traditional portfolio strategies, emphasizing demographic-driven investments," Witt said.

As support for his prediction, Witt noted that Africa leads global population growth, and that all of the top 20 fastest-growing populations are in the Global South.

He added that countries with aging populations and declining birth rates, such as Korea, with a fertility rate of 0.68, face a shrinking workforce and reduced appetite for risk and technological adoption.

In contrast, he believes that regions like Africa, with a fertility rate of 4.18, offer a young, growing population and expanding market potential.

"This is why some VCs are betting on the Global South as the next frontier for innovation and growth," Witt concluded. "Large populations equal large markets, and big markets mean that one or two successful companies can offset eight or nine failures, which is critical for VC success."

If you're a VC who would like to share your thoughts on the industry, please email Manseen Logan at [email protected].

Read the original article on Business Insider

37 photos of the weirdest and most unique McDonald's restaurants in the world

mcdonalds inside decommissioned plane in taupo new zealand
This McDonald's restaurant in Taupo, New Zealand, is located inside a decommissioned plane.

Jam Travels/Shutterstock

Some McDonald's locations go far beyond the typical drive-thru experience, offering unique and unforgettable dining settings that redefine the concept of fast food.

From a New Zealand McDonald's located inside a decommissioned plane to multiple restaurants built inside historic homes, McDonald's has transformed iconic and unconventional spaces into mind-blowing dining locations.

Many restaurants have also been changed to reflect local laws. In Sedona, Arizona, there's a McDonald's with turquoise arches instead of the iconic golden ones, designed to complement the area's natural red rock scenery, and aΒ glass-walled McDonald's restaurant in Georgia has received an award for its impressive architecture.

Here are some of the weirdest and most extraordinary McDonald's restaurants around the globe.

The McDonald's location in Downey, California, is the oldest McDonald's restaurant that still looks as it did when it first opened.
mcdonalds downey ca
McDonald's in Downey, California.

tishomir/Shutterstock

It is the oldest surviving McDonald's location in the world. It doesn't even have a drive-thru β€” instead, customers walk up to the restaurant's windows to order.

The location also features a vintage McDonald's sign with the fast-food brand's old mascot.
mcdonalds old
The vintage 60-foot-tall neon sign at the world's oldest-operating McDonald's restaurant in Downey, California.

David McNew/Getty Images

Speedee, a chef with a hamburger for a head, appeared on the original McDonald's signs alongside the brand's logo of two interlocking golden arches.

Some signs also advertised the low price of McDonald's hamburgers β€” just 15 cents at the time.

This McDonald's restaurant in Hangzhou, China, is located inside a historic villa that once housed a former Taiwanese leader.
hangzhou china mcdonald's
McDonald's in Hangzhou, China.

Zhang Peng/LightRocket/Getty Images

Before being converted into a McDonald's and McCafe restaurant, the building was known as a cultural relic that was the residence of politician Chiang Ching-kuo for one month during the 1940s, CNN reported.

The restaurant has been called "the most controversial McDonald's outlet in the world."
hangzhou china mcdonalds
McDonald's in Hangzhou, China.

STR/AFP/Getty Images

CNN reported that many locals objected to the restaurant opening inside the historic building, calling it a prime example of Western commercialism invading Chinese culture.

However, since opening in 2015, the restaurant has become somewhat of a tourist attraction, welcoming visitors from all over the world.

There's also an eye-catching McDonald's on Dongmen Street in Shenzhen, China.
The McDonald's on Dongmen Street in Shenzhen, China
The McDonald's on Dongmen Street in Shenzhen, China.

Lina Mo/Shutterstock

The restaurant opened on October 8, 1990, in Shenzhen's special economic zone.

The South China Morning Post reported that on its opening day, the unique McDonald's received over 40,000 customers despite only having a maximum seating capacity of 460. It was the first McDonald's to open in mainland China, which made it a popular destination for locals and tourists at the time.

The building occupies three floors and features traditional-looking pagoda-style roofs.
The McDonald's on Dongmen Street in Shenzhen, China
The McDonald's on Dongmen Street in Shenzhen, China.

Dave Colman/Shutterstock

The restaurant's roof is still adorned with the iconic golden arches to make it recognizable to passersby.

Author and photojournalist Gary He, who's dined at over 100 McDonald's restaurants around the world, told Business Insider it was one of the most "epic" locations he's ever visited.Β 

This McDonald's restaurant in Taupo, New Zealand, is located inside a decommissioned plane.
mcdonalds inside decommissioned plane in taupo new zealand
This McDonald's restaurant in Taupo, New Zealand, is located inside a decommissioned plane.

Jam Travels/Shutterstock

Named one of the "world's coolest McDonald's" on a sign outside the restaurant, customers can enjoy everything from a classic Big Mac to Chicken McNuggets and McCafe beverages inside the plane.

There's even airplane-style seating where customers can sit and enjoy their food.
plane mcdonalds
McDonald's in Taupo, New Zealand.

Fotos593/Shutterstock

Visitors to this unique McDonald's restaurant can also view the D3 plane's cockpit.

This McDonald's restaurant in Clifton Hill, Melbourne, Australia, is designed in the art-deco style of the 1920s and '30s.
art deco mcdonalds australia
Art deco McDonald's in Clifton Hill, Melbourne, Victoria, Australia.

Tim McRae/Getty Images

The building was originally the United Kingdom Hotel and was designed by architect James Hastie Wardrop.

Constructed between 1937 and 1938, this restaurant has been called one of the most beautiful McDonald's buildings in the world.

Built in 1983, the Rock-N-Roll McDonald's in Chicago was known nationwide for its themed decor.
Rock 'N' Roll McDonald's
Rock-N-Roll McDonald's in Chicago.

PRNewsfoto/Getty Images

The restaurant, which spanned two floors and wasΒ a replica of Ray Kroc's first McDonald's, was filled with music and pop-culture memorabilia.

The decor was quintessentially '80s, but in 2017, the fast-food giant decided to fully renovate and modernize the location.
Rock 'N' Roll McDonald's
An old jukebox is displayed in the Rock-N-Roll McDonald's in 2004.

Tim Boyle/Getty Images

After the restaurant was partially demolished and modernized, the memorabilia once housed in the restaurant went into the franchise owner's personal collection, The Chicago Tribune reported.

Surprisingly, another iconic McDonald's restaurant that has closed for good is the chain's flashy Times Square location.
times square mcdonalds
McDonald's in Times Square.

Joseph M. Arseneau/Shutterstock

Known for its giant marquee featuring thousands of light bulbs, the restaurant β€” perhaps surprisingly β€” closed in 2020 not as a result of the coronavirus pandemic but rather as part of McDonald's regular review of its restaurant portfolio, a spokesperson told NBC.

However, there's a new McDonald's restaurant located in Times Square, meaning you can still get your fix.

This McDonald's in Sedona, Arizona, is the only one in the world with turquoise arches.
mcdonalds sedona arizona
McDonald's in Sedona, Arizona.

Sheila Fitzgerald/Shutterstock

The restaurant, which was built in 1993, is located in one of Arizona's most beautiful cities; it's known for its awe-inspiring red-rock mountains, canyon walls, and pine forests.Β 

The building has to adhere to Sedona's strict guidelines on building design and signage.
mcdonalds sedona arizona
McDonald's in Sedona, Arizona.

FiledIMAGE/Shutterstock

While the bright yellow color of most McDonald's signs might work in other parts of the country, the turquoise color chosen by the Sedona, Arizona, location blends much better with the surrounding landscape.

Sedona also has strict restrictions on the height of buildings and signage, which is why the famous arches are placed lower than at most other McDonald's restaurants.

A now-closed McDonald's in Houston was space-themed to pay homage to the nearby NASA space center.
houston mcdonalds
McDonald's in Houston, Texas.

K I Photography/Shutterstock

On top of the large McDonald's restaurant, which also had a play place, was a statue of a NASA astronaut holding a container of fries.

The theme continued inside the restaurant.
houston mcdonalds
McDonald's in Houston, Texas.

Amanda H./Yelp

Ronald McDonald and the rest of the "McDonaldland" characters lined the walls wearing space suits and posing against a starry background.

The world's first floating McDonald's restaurant opened in St. Louis in 1980.
mcdonalds boat st louis
The floating McDonald's restaurant in St. Louis, Missouri, which is no longer there.

(Gerald) LEE SNIDER/Getty Images

Moored slightly south of the Gateway Arch on the Mississippi River, this McDonald's was the very first McDonald's to be opened on a riverboat.

It was open for 20 years before closing in 2000.

The McDonald's restaurant in Freeport, Maine, looks much more like a house than a standard fast-food franchise.
freeport mcdonalds
McDonald's in Freeport, Maine.

Gabe Souza/Portland Press Herald/Getty Images

Some McDonald's locations attempt to blend in with the local buildings and are designed more sympathetically.Β 

This McDonald's location, however, was actually built inside a preexisting colonial mansion that's more than 150 years old. Located in Freeport, a small seaside town in Maine, the building was converted into the town's only McDonald's in 1984.

This Parisian McDonald's is located in a historic building built in 1892.
paris mcdonalds
McDonald's in Paris, France, on Rue Saint-Lazare.

Oleg Anisimov/Shutterstock

The restaurant is on Rue Saint-Lazare in Paris, France. Though the building is now a McDonald's, it is also a UNESCO World Heritage Site.

Referred to as the "flying saucer McDonald's," this unique fast-food restaurant in Roswell, New Mexico, is truly out of this world.
roswell nm mcdonalds
McDonald's in Roswell, New Mexico.

Nagel Photography/Shutterstock

Inspired by Roswell's extraterrestrial history, the interior of the spaceship contains a space-themed play area.

This McDonald's restaurant in Kristiansand, Norway, was converted from an old bank building.
mcdonalds norway
McDonald's in Kristiansand, Norway.

Janus Orlov/Shutterstock

Though you might think patrons can stroll up the steps to enter one of the most unusual McDonald's buildings in the world, customers actually enter from a side entrance.

A McDonald's in SΓ£o Paulo, Brazil, is similarly grandiose β€” at one point it even had cartoonish fry sculptures on the front of the building.
mcdonalds Sao Paulo
McDonald's in Sao Paulo, Brazil.

casadaphoto/Shutterstock

The building almost resembles the White House. It's known as the MΓ©qui1000 because it was the 1,000th McDonald's to open in Brazil.

However, past its columns and grand facade, customers can still enjoy McDonald's favorites like the Big Mac or Brazilian menu items like the McCrispy Chicken Legend and the cheddar McMelt.

A McDonald's location in Porto, Portugal, was previously occupied by Cafe Imperial, a famous coffee shop open in the city since the 1930s.
mcdonalds porto portugal
McDonald's in Porto, Portugal.

SMAJC/Shutterstock

The giant bronze eagle, designed by Portuguese sculptor Henrique Moreira, is usually the first thing customers notice when they approach the restaurant.Β 

Inside the restaurant, guests find glamorous details like crystal chandeliers and a massive stained glass window behind the counter.
porto portugal mcdonalds
McDonald's in Porto, Portugal.

saiko3p/Shutterstock

The colorful window is original to the coffee shop that previously occupied the space, and it features beautiful coffee-related scenes.

The restaurant has been called the world's most beautiful McDonald's.

Independence, Ohio, is home to a McDonald's that's known as one of the fanciest fast-food restaurants in the country.
mcdonalds independence ohio
McDonald's in Independence, Ohio.

Michael P./Yelp

It was designed in accordance with building requirements from the city.

Inside, guests are greeted by gold chandeliers and a majestic banister.
mcdonalds independence ohio
McDonald's in Independence, Ohio.

Michael P./Yelp

"The building is unique to any I have ever seen and it is a joy to take a break and walk to the second floor and enjoy the view while I enjoy breakfast or lunch," wrote one TripAdvisor user.

This McDonald's is found in Barstow Station, a fake train station in Barstow, California.
barstow mcdonalds
McDonald's at Barstow Station.

Bill C./Yelp

The "train station" opened in 1975, and is also occupied by a Starbucks and a Popeyes.

The restaurant is surrounded by passenger train cars, which are used as dining areas.
McDonald's in Barstow, California
McDonald's in Barstow, California.

Andrew G./Yelp

Despite having a unique theme, the restaurant still serves up McDonald's favorites.

A McDonald's restaurant is also found inside the historic Denton House on Long Island, New York.
new hyde park mcdonald's
McDonald's in New Hyde Park, New York.

Mike C./Yelp

The building was originallyΒ an 18th-century farmhouse that was converted into a Georgian-style mansion in the 1860s.

McDonald's originally intended to knock the building down after it was purchased in 1985.
new hyde park mcdonald's
McDonald's in New Hyde Park, New York.

Paul D./Yelp

However, Atlas Obscura reported that the fast-food giant faced pressure from preservationists to restore the home to its former grandeur.

The town then allowed the chain to build onto the existing building to create space for a drive-thru.Β 

There's also a McDonald's inside Budapest's beautiful Western Railway Station.
mcdonalds budapest
McDonald's Nyugati in Budapest.

AP PHOTO/NOEMI BRUZAK

The station was built in 1877 by the Eiffel Company, which also built the Eiffel Tower. TheΒ New York PostΒ reported that the restaurant temporarily closed before being reopened in September after an extensive renovation.

This unique McDonald's location can be found in Batumi, Georgia.
batumi mcdonalds
McDonald's in Batumi, Georgia.

Karolis Kavolelis/Shutterstock

Located in downtown Batumi, this McDonald's stands out for its reflective glass exterior. Patrons eating inside the restaurant can also gaze out onto the pool of water and manicured grass surrounding the building.

Inside, the restaurant's furnishings are similarly modern in design.
batumi mcdonalds
McDonald's in Batumi, Georgia.

Karolis Kavolelis/Shutterstock

This location was built in 2013 and won the award for The Best Commercial Building of 2014 by the architecture website ArchDaily.

In spring, flowers bloom on the lawns.
mcdonalds batumi georgia
Seating inside the McDonald's in Batumi, Georgia.

Marynka Mandarinka/Shutterstock

This makes for a great photo-op or simply a beautiful sight while patrons eat their meals.

This McDonald's restaurant in Asheville, North Carolina, was renovated to fit with the local guidelines from the nearby Biltmore Estate.
biltmore mcdonalds
McDonald's in Asheville, North Carolina.

Nelson M./Yelp

Resembling a ski lodge, the restaurant fits in perfectly in the mountain town. However, the inside is grander than perhaps any outside viewer could expect.

The restaurant features red-oak tables, a self-playing baby grand piano, wrought-iron railings, and a fireplace.
McDonald's in Asheville, North Carolina
McDonald's in Asheville, North Carolina.

Jackie S./Yelp

The interior is also decorated with wallpaper, pieces of art, and hanging chandeliers.Β 

The McSki in SΓ€len, Sweden, looks straight out of a fairytale.
The exterior of the McSki location in SΓ€len, Sweden
The exterior of the McSki location in SΓ€len, Sweden.

McDonald's Sverige

Located in Lindvallen, one of Sweden's premier ski resorts, this one-of-a-kind "ski-thru" McDonald's allows guests to enter the building and order their food without ever even removing their skis.Β 

Gary He told BI that it was the most unusual location he had ever visited.Β 

"The air is so clean and crisp β€” it's like being on top of the world," He said. "When I visited, it wasn't even busy. It was just me, the McSki, and the mountains. I was just hanging out and enjoying myself."

Read the original article on Business Insider

I'm a private chef. After trying croissants at Key Food, Whole Foods, and Trader Joe's, there was an obvious winner.

composite image of croissants from key foods, whole foods, and trader joe's
I taste-tested the croissants in the bakery sections at Key Food, Whole Foods, and Trader Joe's.

Fatima Khawaja

  • I'm a private chef, and I compared croissants at Key Food, Trader Joe's, and Whole Foods.
  • Key Food sold the biggest croissant, but the inside looked more like bread than pastry.
  • I like Trader Joe's offering, but Whole Foods' pastry was the closest to a fresh croissant.

I like having croissants at home for a quick breakfast for me and my daughter before work or school. They're one of those staples I know will be enjoyed before they get moldy.

As a private chef, I know croissants are a highly technical pastry that requires a lot of time and effort. As a working mom, I don't have either of those.

Fresh croissants from our local bakery can be expensive, about $5 to $6 each, so it's more economical to grab a pack of four to six at the grocery store.

Here's how the bakery-section croissants at Key Food, Whole Foods, and Trader Joe's stack up.

Key Food is a staple grocery store throughout the boroughs of New York.
croissant from key foods on a plate
Key Food had the biggest croissants.

Fatima Khawaja

The first croissants I tried were from Key Food, an NYC-based chain with locations across the East Coast. A pack of four was $4.99, or about $1.25 each, which is a great deal.

The croissants were huge β€” easily the biggest I bought or saw at any store.

They were also slightly flat, with a pale golden-brown color.

When I cut them open, I was unimpressed with the lamination.
cross section of a croissant from key foods
The interior of the croissant looked more like bread.

Fatima Khawaja

The Key Food croissant hardly had any lamination β€” thin layers created by folding butter into the dough.

There weren't many distinct layers, and it didn't have the crispy, airy texture I expect from a croissant.

I've tried Trader Joe's croissants before.
croissant from trader joe's on a plate
Trader Joe's croissants often make it into my cart at the chain.

Fatima Khawaja

Trader Joe's croissants are regulars in my shopping rotation because I frequent the chain a lot.

The store sells a three-pack for $3.99, or about $1.33 each. I think that's a great price for the quality.

The croissants were medium-sized and had a nice golden-brown color.

The croissant was fine, but it was missing a textural element.
cross section of a croissant from trader joe's
I wish there were more of a flaky crunch on Trader Joe's croissants.

Fatima Khawaja

Trader Joe's pastries have a lovely buttery texture and slightly more lift and airiness than the Key Food ones.

However, they still lack the crackly, messy quality that is so identifiable when it comes to croissants.

I enjoy these from time to time with just some jam, but they're not the crème de la crème.

Whole Foods' croissant looked the most authentic.
croissant from whole foods on a plate
I was happy to see some visible layers on Whole Foods' croissant.

Fatima Khawaja

The last croissants I tried were from Whole Foods, where a pack of four cost $7.49, or $1.87 apiece.

Despite being the most expensive of the bunch, they were absolutely worth it.

The croissants were the perfect size β€” exactly as big as my hand β€” and had nice domed tops that gave me a peek at the layers underneath. The deep-brown exterior was also tantalizing.

Whole Foods had the closest thing to a bakery croissant.
cross section of a croissant from whole foods
There were nice, fluffy layers in Whole Foods' croissants.

Fatima Khawaja

When I bit into the beautifully layered croissant from Whole Foods, I truly felt like I was eating a pastry, not just a piece of bread.

The flavor had a nice butteriness, but there was still that nice, slightly sour taste from the yeast.

For me, the winner was clear.
croissant from whole foods cut open on a plate
Whole Foods had the best grocery-store croissant by far.

Fatima Khawaja

Whole Foods was my clear and obvious winner. I'd rather have a nice pastry that's so good I'm guaranteed to eat the whole thing than opt for a cheaper version that's unsatisfying.

Without a doubt, I'll be returning to Whole Foods' bakery section for the four-pack. On weeks when I'm on a tighter budget, though, Trader Joe's pack of three is my runner-up.

With other, better options available, I don't think I'd buy the Key Food croissants again.

Read the original article on Business Insider

How Aldi became America's fastest-growing grocery store

Woman with an Aldi bag.

Getty Images; Jenny Chang-Rodriguez/BI

Julie Herron drove by the Aldi near her home in Nashville for years before she went in. She usually shopped at Publix, but in 2021, when inflation was sending grocery prices soaring, her curiosity got the better of her. She was shocked at what she found in Aldi.

Everything there was cheap, she said. The store also had cool products, like a variety of German cheeses and $1.59 makeup-removal wipes she said were "superior, honestly," to a comparable $20 product at Sephora.

Aldi has become Herron's go-to store. "My friends say that they call me the 'Aldi Queen,'" Herron, a retired elementary-school teacher, told me. "I go every week."

As grocery prices have jumped by double digits over the past few years, people have felt the sting. For many, Aldi has been a source of solace. A recent Motley Fool analysis found that a basket of 20 products that cost about $65 at Aldi was $11 more at Kroger and about $54 more at Whole Foods. Though Aldi isn't the biggest grocery chain in the US β€” according to Euromonitor, it captured just 1.4% of US grocery sales last year, compared with Walmart's 25% β€” it offers a lot of things shoppers are looking for these days: organic meat, store brands, and a quick shopping trip. As a result, it has attracted loyal fans who proudly sport Aldi-branded tote bags, pants, and flip-flops. And it's the fastest-growing grocery chain in America by new store openings, a title it has held for five years, according to the real-estate services company JLL.

The US grocery business is ruthless. Competition is fierce, and profit margins are slim. Many have tried and failed to find success. So how did a German grocery chain find such a ravenous following in America?


From its start in Germany after World War II, Aldi's founders, Theo and Karl Albrecht, were singularly focused on keeping prices low. The brothers expanded their family-run store into a chain of 77 stores in Germany by 1954 with the aim of minimizing expenses and maximizing profit. They didn't advertise. They offered only shelf-stable items that sold well, eliminating the need to buy and run refrigerators. Shoppers even picked their own items off the shelves β€” a radical concept at a time when German shoppers were used to being served at a counter.

When Aldi opened its first US store in Iowa City, Iowa, in 1976, it used a similar approach. A newspaper ad at the time proclaimed that the store had "no perishables," "no fancy shelving," and "no fancy floor." It promised lower prices for a variety of items, from baby shampoo to salad dressing. The ad estimated that the cost of a basket of goods at Aldi was 18% less than at a rival.

Though that store ended up closing in 1977, Aldi kept working to perfect its formula for American shoppers, largely by going smaller. The Iowa City store was about 40,000 square feet β€” close in size to a typical modern US supermarket β€” but the hundreds of stores Aldi opened in the next two decades were just about 10,000 square feet. This meant that Aldi could carry only a fraction of the items that its supermarket rivals could, but it had a solution: Go smaller with selection, too. Instead of stocking a dozen types of ketchup, it sold only one or two. The model caught on, and by 2004 the chain had 700 locations across the country.

Twenty-five years ago, the people who went to Aldi were just looking to save money. Now it's very hip to go to Aldi.

Over the years Aldi has found clever ways to become even more efficient. Today, for instance, produce like apples, oranges, and broccoli are sold in prepackaged units to save time weighing and pricing each item. Many shelf-stable items are put on the sales floor in the same cartons they arrived in. Employees often rotate between ringing up customers and stocking shelves. To get a shopping cart, customers have to provide a quarter, which they get back when they return the cart β€” a system that saves the company from needing parking-lot attendants to round up carts. Though shoppers must bring their own bags and pack them themselves, the prepackaged produce and large barcodes on products contribute to a speedy process.

A September study of grocery prices in Charlotte, North Carolina, by analysts at Bank of America found that while Aldi had raised prices by more than other grocers over the previous year, it was still cheaper than local Walmarts (which were cheaper than Kroger-owned chains and Whole Foods).

Aldi now has about 2,400 stores in the US, with another 800 planned for the next four years. Foot-traffic data from the location-data company Placer.ai indicates that the number of shoppers who visited Aldi stores in the spring of 2022 increased from the same period in 2019. This year, foot traffic at Aldi's stores has grown by 10% to 18% each month compared with 2023, more than double the rise among traditional grocery stores.


Sumone Udono, a trucker based in Wisconsin, has frequented an Aldi that's a 10-minute walk from her home for decades. She buys everything from the brand's organic pistachios to the spices she estimates would cost double at a traditional supermarket.

Selling others on Aldi, though, wasn't always easy. She recalled that in the early 2000s, when she ran a concession stand at her kids' baseball games, she tried to convince the other parents to replace Oscar Mayer hot dogs with the Aldi equivalent to lower prices. The parents were hesitant but ultimately agreed to sell both and see how it went. The Aldi dogs ended up outselling the name-brand ones.

Relying on store brands is one of the most successful cost-cutting tactics Aldi has implemented. Aldi says roughly 90% of the items in its stores are from the grocer's own brands. For comparison, about 20% of groceries sold in the US last year were store brands, according to the Food Marketing Institute.

These days, Gen Z and millennial customers are less likely to care about brand and more likely to prioritize price.

Scott Patton, a vice president of national buying and customer interaction at Aldi USA, said that having so many private-label products saved the company costs associated with national brands, such as advertising fees. It also gives Aldi more of a say in how products are created β€” for instance, Aldi worked with one of its mandarin-orange suppliers to reduce the amount of plastic in its packaging, a move which helped save Aldi money, Patton said. Costco and Trader Joe's similarly use store brands to cut costs.

Patton said that relying so much on its store brands increases the pressure for Aldi to find just the right items. "If we don't have the right quality at the right price for the consumer, there's not another option for them to pick from."

To accomplish that, he said Aldi tests about 35,000 products a year. In some cases Aldi has found success designing its products to resemble more-familiar brands. For example, it sells Clancy's nacho-cheese-flavored tortilla chips, which come in a red bag with a triangle logo reminiscent of Doritos, and L'oven Hawaiian sweet rolls, which are comparable to King's Hawaiian rolls.

Phil Lempert, a food industry analyst and editor of the website Supermarket Guru, said that many shoppers used to look down on store brands. "For my parents, there was a stigma." But these days, Gen Z and millennial customers are less likely to care about brand and more likely to prioritize price.

It helps that many Aldi-brand products don't seem generic and boring. It stocks brioche, Dutch Emmental cheese, and chili-lime cashews. "It's a German company, so they have a lot of international products, especially cheese," Herron said.

She's a fan of what's known as Aldi's "Aisle of Shame" β€” or as the store calls it, the Aldi Finds aisle, a section in the center of most Aldi stores with miscellaneous low-cost nonfood items that change every Wednesday. The aisle's items have included rugs and Dutch ovens β€” and it has garnered a loyal following. The Facebook group Aldi Aisle of Shame Community has 1.5 million members, the most active of whom post photos of their finds. Recently, fall-themed scented candles were making a splash. In October, the hit find was a pressure-point massage cane.

To cash in on the growing fan base, Aldi has released two collections of branded apparel and accessories. Last fall's selection β€” "Aldi-das," as some on TikTok call it β€” included canvas slip-on shoes, travel mugs, and a backpack. Lempert said it's a big change from the Aldi of the 1970s. "Twenty-five years ago, the people who went to Aldi were just looking to save money," he said. "Now it's very hip to go to Aldi."


In 2023, Aldi agreed to buy 400 stores from Southeastern Grocers, including many run by Winn-Dixie, a Florida chain that became a household name in the South during the 20th century. Analysts at the consumer-data firm Dunnhumby said the acquisition should "raise alarm bells for retailers not only in the Southeast but throughout the US."

Of course, Aldi's expansion faces headwinds. Americans have lots of choices for where they shop, and recent entrants like Amazon and Lidl, another discount chain based in Germany that launched in the US in 2017, are competing for market share.

Devout Aldi fans might don their branded windbreakers and dart straight to the nearest Aldi, but most Americans just head to whichever store is closest, said Zak Stambor, a senior analyst who covers retail and e-commerce for EMARKETER, a sister company of Business Insider. "Even if I want to save money on groceries and I fit the demographics of the Aldi customer, if I have to drive 15, 20, or 25 minutes to an Aldi, I'm not likely to do that on a regular basis," he said. Twelve states, including Washington and Colorado, don't have an Aldi.

Then there's the fact that grocery-price inflation, which has pushed many people toward the discount grocer, slowed to 1% in the year that ended in October β€” though, inflation may return if the Trump administration enacts new tariffs. Walmart recently said it planned to raise prices if Trump's tariffs are implemented.

Lempert, the grocery analyst, thinks Aldi's growth is only getting started. He has met the CEO of Aldi USA, Jason Hart, and toured the company's American headquarters in Illinois. He expects to see even more Aldi stores opening. "By the end of this decade," he said, "they'll probably have 4,000 or 5,000 stores."


Alex Bitter is a senior retail reporter at Business Insider.

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I tried club sandwiches from Subway, Jimmy John's, and Jersey Mike's, and there's one I wouldn't order again

wrapped club sandwiches from subway, jimmy john's, and jersey mikes
I wanted to see which popular sandwich chain made the best club sub.

Steven John

  • I tried classic club sandwiches at Subway, Jimmy John's, and Jersey Mike's to find the best one.
  • Jimmy John's and Jersey Mike's impressed me with their bread and meat, respectively.
  • My Subway sandwich was somewhat of a letdown for me, largely because I felt the portions were small.

I love sandwiches, and if I had to pick just one to eat for the rest of my life, I'd choose the club.

In my book, a club sandwich consists of bread, mayo, turkey, lettuce, tomato, and sometimes bacon. However, it can also be made with other meats, like ham or chicken.

I set out to try Subway, Jersey Mike's, and Jimmy John's take on the classic sub to see which popular chain serves the best club.

Here's how they stacked up.

I started my club-sandwich journey at Jersey Mike's.
inside a jersey mike's sandwich shop
Jersey Mike's is known for its sub sandwiches.

Steven John

Jersey Mike's started serving sandwiches in the 1950s, and as its name suggested, the original location was in New Jersey. Now, however, it has over 2,000 shops across the US and Canada.

Jersey Mike's club sub consists of turkey, ham, provolone, applewood-smoked bacon, and mayo. I added lettuce and tomato since they were also included in the photo on the website.

My 7-inch sub cost me $11.57.

Jersey Mike's piled on the meat.
crosssection fo a jersey mike's club sandwich
I got a lot of bang for my buck at Jersey Mike's.

Steven John

The turkey and ham were stacked high on the club sub β€” the pile was easily an inch thick, and that didn't even include the bacon strips. The meat was shaved thin and tasted fresh.

The tomato slices were a good size, and the mayo wasn't slathered on too heavily.

Unfortunately, the wheat bread didn't seem particularly fresh or soft to me. I also wasn't thrilled with how readily the finely chopped lettuce fell out of the sandwich.

Despite those minor flaws, I'd 100% order Jersey Mike's club again.

Next on my list was Jimmy John's.
inside a jimmy john's sandwich shop
Jimmy John's started in Illinois.

Steven John

Like Jersey Mike's, Jimmy John's has more than 2,000 locations, but its roots are in the Midwest. The first shop opened in Illinois in the 1980s.

Jimmy John's country club features turkey, ham, provolone, lettuce, tomato, and mayo. My 8-inch sandwich cost $11.97.

I thought Jimmy John's club had the best bread.
cross section of a club sandwich from jimmy john's
None of the other shops came close to beating Jimmy John's bread.

Steven John

Jimmy John's French bread, which is the default unless you change it, is sublime. Maybe it was made shortly before I placed my order, but it seemed unusually fresh for a fast-food joint.

I could've enjoyed it with a pat of butter instead of toppings, but I was glad for all the other ingredients.

Although it didn't have bacon, the meat and cheese were cut thicker than Jersey Mike's, and the cheese was more flavorful.

I also appreciated the fresh veggies. The lettuce was chopped but not veritably minced, so it didn't slide off the sandwich as easily.

My country club had a bit too much mayo, so if I ordered it again, I'd definitely specify the amount. Aside from that, the sandwich was pretty much perfect.

I ended my sandwich quest at Subway.
inside a subway sandwich shop
Subway has locations all around the world.

Steven John

Unlike the other two chains, which only operate out of the US and Canada, Subway is a global sandwich behemoth with tens of thousands of locations.

I'm an unabashed fan and take comfort in knowing that wherever I travel, there's probably some familiar food nearby.

That said, I don't usually order its oven-roasted turkey and ham sandwich, which is the closest thing it has to a club. You pick your own toppings at Subway, so I added mayo, provolone cheese, lettuce, and tomato.

Subway's standard sub was the smallest of the three, at 6 inches, but it was also cheaper. I paid $8.68.

For me, Subway's take on the classic sub was a mild disappointment.
cross section of a subway club sandwich
Subway's sandwich was a bit small.

Steven John

I wish I'd added a lot more toppings because this was the most diminutive sandwich of the trio by far.

There wasn't much meat, just two pieces of cheese, and the veggie portions were modest. In my opinion, the meat was also a bit less flavorful than the others.

Adding bacon would've helped, but it wasn't on the basic sandwich and it would've cost extra. I think I'd rather stick with one of my usual Subway orders anyway.

All three chains had their own take on a club, but some were better than others.
three club sandwiches from jimmy john's, subway, and jersey mike's
I'd order Jersey Mike's and Jimmy John's club sandwiches again.

Steven John

Although none of the sandwiches ticked all of my boxes, Jimmy John's and Jersey Mike's came pretty close.

Both chains offered substantial subs loaded with meats, which were particularly flavorful at Jersey Mike's. Plus, Jimmy John's had the best bread.

The club I made at Subway, by comparison, fell flat. It was smaller, had fewer toppings, and didn't pack much flavor, so I probably wouldn't order it again. However, I'll still return to the chain for other subs.

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I tried the biggest burgers at 5 fast-food chains and ranked them from worst to best

fast food biggest burgers
I tried the biggest burgers at McDonald's, Wendy's, Burger King, In-N-Out, and Shake Shack.

Erin McDowell/Business Insider; NYC Russ/Shutterstock; Savvapanf Photo/Shutterstock; rafapress/Shutterstock

  • I tried the biggest burgers at McDonald's, Wendy's, Burger King, In-N-Out, and Shake Shack.
  • Shake Shack's burger was a little overwhelming, in my opinion.
  • Burger King's Triple Whopper impressed me with its flame-grilled patties and fresh toppings.

The biggest burgers at fast-food chains are usually among the more expensive menu items, but which burger is worth that extra cost?

Fast-food costs are a hot topic. Hikes in fast-food prices and "shrinkflation" β€” a phenomenon in which customers claim menu items are getting smaller while either remaining the same price or costing more β€” are upsetting customers, and chains are coming out swinging with meal deals aimed at luring customers back. Yet, as some chains see declines in sales, brands are also thinking beyond limited-time promotions.

"We're thinking about value," Wendy's CFO Gunther Plosch said in October, Business Insider reported. "We absolutely believe that value in an environment of value-seeking consumers is not about only executing price-pointed promotions and value deals and value bundles β€” there's more to that."

In a bid to find out which chain offered the best value on its bigger-ticket items, I recently compared six of the largest burgers sold at fast-food chains. I tested burgers from McDonald's, Wendy's, Burger King, In-N-Out, and Shake Shack to see how they stacked up in terms of taste, price, and overall value.

Shake Shack's double cheeseburger was a little too heavy for my liking, while Wendy's and Burger King both impressed me with their triple-stacked burgers.Β 

Here's how the biggest burgers at five fast-food chains ranked, from worst to best.

Shake Shack's double cheeseburger, my personal least favorite, was particularly large.
shake shack double cheeseburger in paper wrapping on blue background
Shake Shack's double cheeseburger was the most expensive I tried.

Erin McDowell/Business Insider

It cost me $12.49, not including tax, making it the most expensive burger I tried. I chose pickles, onions, and Shack sauce as my toppings.

The burger patties were perfectly crispy on the outside and covered in gooey melted cheese.
shake shack double cheeseburger in paper wrapping on blue background
The double cheeseburger was huge.

Erin McDowell/Business Insider

The pickles were large and crunchy, and the amount of other toppings was generous. The chain's signature Shack sauce also added a lot of flavor, and the cheese was perfectly melted.

However, the burger was almost too heavy to pick up.

Biting into the Shake Shack burger was a little overwhelming, in my opinion.
bitten into shake shack double cheeseburger in paper wrapping on blue background
The burger was too much for me.

Erin McDowell/Business Insider

I know I purposefully ordered the largest burger on the menu, but this burger was massive. I saw it as a hindrance rather than an asset, and I struggled to get through more than a few bites.

Despite being the most expensive burger, I'm not sure it was worth it. The burger patties were much thicker than quite a few of the other burgers I tried, and the toppings definitely enhanced the flavor. However, it was simply too big, to the point where it tasted like a giant meat-and-cheese grease-bomb.Β 

My second-to-least favorite burger was a classic: a McDonald's Big Mac.
mcdonalds big mac
McDonald's Big Mac is iconic.

Erin McDowell/Business Insider

I was conflicted over whether the biggest burger at McDonald's was the Big Mac β€” which is physically the largest thanks to the extra bun β€” or the Double Quarter-Pounder, which is the burger with the most meat. I decided to try both to appease both sets of McDonald's fans who argue for one over the other.

A Big Mac cost me $7.29 at my local McDonald's, excluding tax.

There was a generous layer of pickles, lettuce, and sauce on the sandwich.
mcdonalds big mac
McDonald's Big Mac was also stacked high with toppings.

Erin McDowell/Business Insider

The burger patties weren't overwhelming, nor was the sandwich as a whole. I also liked the tangy, creamy Big Mac sauce. However, I thought the added bun made the sandwich taste too much like bread and the other flavors were slightly lost, in my opinion.

The sandwich was a good size and very filling, but I wasn't crazy about the flavor profile.
mcdonalds big mac
I mostly tasted sauce and bread.

Erin McDowell/Business Insider

I simply wanted more flavor happening. Between the extra bun and the generous serving of Big Mac sauce, that was all I could taste. Tomato, cheese, or simply other condiments might have taken the sandwich to the next level.

The 4x4 is the largest burger available at In-N-Out.
in n out 4x4
In-N-Out's 4x4 is also known as the "Quad Quad."

Erin McDowell/Business Insider

The burger, which is on In-N-Out's "not-so-secret" menu, is also referred to as the "Quad Quad," and comes with four beef patties, four cheese slices, lettuce, tomato, spread, and the option to add onions. It cost $9.49, excluding tax and fees.

The giant burger was difficult to hold in one hand, let alone bite into.
in n out 4x4
The burger was delicious.

Erin McDowell/Business Insider

The burger was far too large for me to eat in one sitting, though the flavor made me want to.Β 

All of the elements of the burger were delicious, from the juicy beef patties to the layers of cheese and fresh lettuce and tomato.
in n out 4x4
In-N-Out's 4x4 was heavy.

Erin McDowell/Business Insider

However, the additional burger patties ended up detracting from the burger's overall ranking instead of enhancing it. The burger was overwhelmingly heavy, with the tomato and lettuce failing to offset the excessive amount of meat and cheese.

The buns couldn't contain the juicy beef patties, and they started disintegrating as I ate the burger. Truthfully, I wouldn't order this again. Although it was tasty, the amount of meat was just too much for me.

I also tried McDonald's Double Quarter-Pounder with cheese. I preferred it over the Big Mac.
mcdonalds double quarter pounder burger
McDonald's Double Quarter-Pounder with cheese.

Erin McDowell/Business Insider

Looking at the burger in the box, I immediately noticed that it had more meat than the Big Mac. The meat was clearly the star of the show, with the other toppings barely visible beneath the patties and bun.

The burger cost me $9.79, excluding tax. I thought this was a fair price for the meat-heavy burger.

The Double Quarter-Pounder with cheese comes with a whopping half-pound of meat, pickles, onions, ketchup, and mustard.
mcdonalds double quarter pounder burger
The bun let this burger down.

Erin McDowell/Business Insider

I found this burger to be pretty flavorful, especially thanks to the condiments and large slices of crunchy pickles. However, I wasn't crazy about the bun β€” while I normally love a sesame-seed bun, I found this one to be pretty bland, airy, and artificial-tasting.

I would order this burger again.
mcdonalds double quarter pounder burger
McDonald's Double Quarter-Pounder with cheese felt more manageable than some of the other burgers.

Erin McDowell/Business Insider

Despite having a lot of meat, the burger didn't feel too overwhelming to eat. I thought it was a realistic sandwich, especially compared to the gigantic burgers from Shake Shack and In-N-Out.

The second-best burger I tried was Wendy's Dave's Triple.
wendys daves triple
Wendy's Dave's Triple has three patties.

Erin McDowell/Business Insider

When I arrived at my local Wendy's drive-thru, this extra-large burger wasn't even on the menu. However, thanks to my online research, I knew it could be made and decided to order it anyway. I did wonder how popular this sandwich was, and if many people opt for the triple-patty burger.

The Dave's Triple burger cost $11.24, excluding tax.

Wendy's Dave's Triple burger comes with nearly a pound of beef, American cheese, crisp lettuce, tomato, pickle, ketchup, mayo, and onion.
wendys daves triple
Wendy's Dave's Triple had generous toppings.

Erin McDowell/Business Insider

The sandwich was difficult to pick up, but all of the ingredients appeared to be well-balanced. There was a large serving of tomatoes, pickles, and cheese, so it didn't look like the beef patties would be overpowered.Β 

I thought this burger had a ton of flavor. The cheese was perfectly melted, and the patties were super juicy.
wendys daves triple
This was a great-tasting burger.

Erin McDowell/Business Insider

While I personally couldn't finish the entire thing, I definitely thought the flavors were there and it was a good value for the price.

If I were to change one thing, it would be to remove the mayonnaise. It ended up mixing with the juice from the tomatoes in an unappetizing way, creating a tomato-mayo sauce that I thought brought the other flavors down.

My favorite burger I tried was the Triple Whopper with cheese from Burger King.
burger king triple whopper
My favorite burger was Burger King's Triple Whopper with cheese.

Erin McDowell/Business Insider

Similar to the Dave's Triple, the Triple Whopper also comes with three quarter-pound beef patties, although the ones at Burger King are flame-grilled. The burger cost me $11.29, excluding tax, making it the second-most expensive burger I tried.

Unlike the other burgers, the Triple Whopper only comes with one slice of cheese.
burger king triple whopper
The burger toppings tasted fresh.

Erin McDowell/Business Insider

However, I felt that this allowed the other flavors to really come through, and it led to a less gut-filling, more appetizing eating experience.

The lettuce, tomatoes, and onions all tasted fresh, and they added a delicious crunch to the burger.

I also liked the beef patties on this burger the most out of the ones I tried.
burger king triple whopper
I would definitely order the Burger King Triple Whopper with cheese again.

Erin McDowell/Business Insider

The burger patties had a smoky, savory flavor that made the sandwich taste fresh off the grill. I also thought the patties' shape, which were larger in circumference but flatter than some of the other burgers, made the sandwich easier to eat.Β 

Overall, I really enjoyed this burger and would definitely order it again β€” if I have the appetite.

While I'm not sure I'm happy to pay more than $10 for any fast-food burger, it was a very generous serving and the most flavorful out of the bunch, without being overwhelmingly huge.

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