CEO Proves Why He’s The GOAT
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- Опубліковано 3 лип 2024
- Arizona Iced Tea founder Don Vultaggio is a CEO who is fed up with the greed of CEO's. Cenk Uygur and Ana Kasparian discuss on The Young Turks. Your Support is Crucial to the Show: tyt.com/team
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"Arizona Iced Tea founder Don Vultaggio has kept the price of his famous tea at 99 cents for 40 years even as inflation has pushed the cost of everything up.
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240701__BE03ArizonaTea
Unfortunately, capitalism is not about morals. It's about greed while looking justified in 'your' greed. Congratulations to this CEO for caring for others!
Unfortunately This "capitalism" is Our Government as apposed to being For the People !!
@@TonyJ1179 "We the people" can change that. We can build co-ops, which are actually wholesome and pressure the government to do more to support Worker-Coops.
@@Inspiredteacher1 That would be a start , if We can get the government to listen to U.S. People ?
@@TonyJ1179 we can. Love him or hate him, Michael Moore, through his documentaries, was able to galvanize the people to unite and pressure the government for a universal healthcare system. Some call it "Obama Care".
Notice how he’s not stressed? Must be nice having a clear conscience.
💯 I agree with Anna. He's living my dream.
The price has in fact gone up, it did so years ago
You get more customers when you have a fair price like Costco does and that's why they're successful in business. Lower the price more will buy so the profits are better in the long run
@@Lll20498 as an honest business man earning his living and bringing tasty joy at an honest price to his customers. That's the real American dream not the fake crap that trump is pulling with us and Biden too.
“Not screwing over and price-gouging your customers”…are you listening, Disney? 🤑
When I was in college, I ran a couple big chain pizza restaurants. We had a late night deal for a small pizza and a can of coke for $5. I promoted the hell out of the deal, and we sold hundreds of them every night. It probably accounted for more than 20% of our total business. One day, the corporate guys showed up(the owner, who was mentoring me, showed up in his suit jacket, lol), and they told me it was my lucky day.
They told me they were changing the price of the special to $8. They had charts and graphs and pointy brown leather shoes, lol. They knew it all. I told them that at that price point, people would just go grab a Big Mac combo(it was the early 2000's) because it was faster and easier. They said that was OK because the market could bear it, and we only had to sell 60% of the previous volume to make the same money. I looked right into their dead, corporate eyes and told them,
'You will lose every single customer with that obvious price gouging.'
They laughed at me and told me that there was a reason they were in finance, and I was working for them. I'd never seen 10 of the 11 of them before or ever after, lol. Just a bunch of pigs at the trough...
Anyways, yup, we lost every single customer, and we lost millions of dollars, and the owner lost two of his 8 stores.
The best part is that instead of remembering when I was his friend and tried to help him, he always held it against me and our relationship was never the same. He went on to own a whole bunch of franchises, I finished college and moved on.
Anyways, I like to tell this story when a specific price gouging type of video surfaces. I think I'm going to save it to my clipboard so I don't have to write it anew every time, since it's common practice now.
BTW, I've always loved Arizona Tea and their business model.
You're absolutely right. I've been in the food and beverage business for years. And the reason so many go into the pizza business. Is the popularity and the large profit margin. These companies could cut the price for pizza they sell in half. And still make lots of money.
I have never been into a store in Canada that sells these cans for 99 cents. Even when it says 99 cents in the can
@@Mia_xoxo2-b3e Probably because AIT isn't the one selling it in CA. Import tax etc.
MSRP is not what stores have to sell it at. It is the recommended price.
This is why capitalism favors the middle man.
But Canadian-dollars are worth less, than US-dollars are worth, so US$0.99 would be about CAD$1.20, logically.
@@richardincm I think I've only seen them for that price when on sale, but I could be remembering incorrectly
Private equity is killing our economy & employee wages & quality of products or services. This is even happening in healthcare. Hospitals started gobbling up independent clinics at least 2 decades ago. Now the hospital systems are being eaten up by one big corporation after the other. It has affected patient care, staff retention, lower educational standards for nurses, etc.
It is disgusting. I worked for a home services company that did various stuff. Electrical, HVAC, plumbing, drain cleaning etc. The cost of materials is almost never an issue, unless your getting a whole new unit or something for a water heater or AC condenser for example, but. for most parts and units We saw the price go up a tiny bit, maybe 15% at the most. from 2019-2023. but our prices? our prices doubled. We asked over and over again and they basically admitted that they were going to keep raising the price until people stopped buying our services. It is disgusting behavior and it is predatory. these companies don't give a rats ass about the customer whatsoever. prices are insane now. for example if you need something as simple as your toilet unclogged (takes literally less than a minute usually) it will cost you about 600 dollars.... insane.
It's taught in econ 101, businesses are there to maximize profits. That's it. Everything else is secondary.
@@Urza26 Completely agreed, I'd just like to point out; that's because neoclassic economics is the propaganda of capitalism. Its entire purpose is to legitimise the actions of the wealthy. Much like religion was/is to feudalism.
It doesn't actually mean the only purpose of businesses ought to be profit, it's just justifying the goal of the capitalists. Grifters intentionally misconstruing Adam Smith to justify their greed.
You can't find a bottle of water for 99 cents, lucky if you find one for less than $2. At $2 to $3 you can get a bottle of water for half the size of an Arizona Tea. Think about it.
Lies
@@adriangee4272 all bottled water is controlled by publicly traded companies
I'm sure this guy can still afford a yacht and has a kickass retirement plan, which just goes to show that constantly rising your prices is pure greed.
Costco openly told potential investors not to invest in them if they expected typical practices.
I'd invest in Costco. They understand long-term gains over short-term quarterly earnings.
Note to self: buy more Arizona Iced Tea.
The price has in fact gone up, it did so years ago
Yay Costco and Arizona Tea founder😀 Shop Costco guys if you can.
❤Costco 🇺🇲
Shop every month!
As soon as he retires and the accountants take over his company, they will destroy his brand.
not necessarily. he could write in protections. or leave the company to someone who would continue the commitment to low price.
@@tooturtly The bean counters and money grubbers would find a way around any "promises" made or they would sell it off to someone else with no such agreements. never underestimate the power of greed.
@@MrGrumblier yea.
I'm now a customer of Arizona. I'll buy my first tomorrow.
I really like the Arizona green tea and recommend that! It has ginseng and honey in it. I think it tastes better than Lipton, Brisk and others that definitely cost more and just aren't worth the extra money. You can't go wrong trying it for only 99 cents! 😊
@@Ferocious_Fairy Thanks for the recommendation 😀
@@ShawwwHa You're welcome. I hope you enjoy it! But if you don't then at least you only wasted 99 cents and not more than that on another brand. I've also tried the Arizona fruit punch and watermelon flavors and didn't really like it all that much so I just stick with the green tea. 😊
@@ShawwwHa Oh also, I like the pretty cherry blossoms on the green can and it's cool that Ana said the CEO's wife designed it. I didn't know anything about the Arizona tea company before watching this TYT video and I feel better about giving my money to a corporation that isn't jumping on the greedflation and shrinkflation BS bandwagon.
My work charges 1.50 per can. I don't like charging people that.
My old job pull that same 💩. I I brought my own drinks and snacks. My boss said I wasn’t a team player for buy at the job. I replied you aren’t a team player because you are over overcharging the players 🙃.
I've been drinking Arizona for years. It's the best deal at the gas station
The price has in fact gone up, it did so years ago
In Arizona, Arizona tea is always 99 cents. Sometimes you can catch it 2 for $1.00. I don’t even drink it but I notice when it’s on sale cause damn that’s a good deal.
Tap water's cheaper. I wonder how much this company pays for the water it uses?
@@susankay497 the tap water here tastes disgusting. I honestly don’t know why that is. I grew up in Louisiana and we drank out of the tap all the time.
@@Roxie_also I feel for you 😟
I buy an Arizona everyday, been doing it for decades. Will continue to do so.
well shit, an ethical CEO. So unicorns do exist.
The price has in fact gone up, it did so years ago.
The funny part is if they were $0.99 in 1992 and are $0.99 cents in 2024, then they were kind of expensive in 1992
Greed is a choice!😕
Im gonna go buy arizona as my primary drink choice from now on when u need my fix
FYI - Costco is publicly traded.
I am a fan of Costco. They treat their workers well!
Awesome if only more did what this man and Costco do.
And watch when he dies the next generation will put it up 1000%. It's good to still see some decent ppl still exist
The price has in fact gone up, it did so years ago.
I knew I wasn't crazy! I have been telling people that the price of Arizona Ice Tea has been 99 cents since the 90's! My husband is an avid fan of this tea.
RIP Mystic, Fruitopia, SoBE...and who tf drinks Snapple anymore?!
Dude is worth $6.5 billion dollars... He's made plenty of money but it's cool that he's not arbitrarily raising the prices just because everyone else is. I wonder how well his employees are paid.
After your first billion why gauge
He pays minimum wage
I haven't looked into it, but I would guess the vast majority of that wealth is from owning the asset that is the business. If the look at life in the simply black-and-white way with all rich being the enemy of all poors it makes it hard to find tenable solutions. For example if this guy realized all his "wealth" and then used that money for charity, he would be giving up his company to most likely either Pepsi, Coke, or worse a private equity firm and you would complain about him selling his company. You have to be careful of creating such a negative public opinion of wealth that the wealthy have no venue to help the overall society without being attacked.
His employees are paid average amounts. That's the thing about capitalism; the remuneration for labourers is what people will accept, irrespective of what they're worth.
@@spyderdogg6248"why gouge" greed. Because that's what capitalists do. Sad but true.
I normally drink Snapple. From now on I’m an Arizona man.
Which means ANY businesses that sell them for more than 99 cents is DIRECTLY profiting off of the price difference because what the CEO is basically saying is that he hasn't changed his wholesale prices to the retail establishments that sell the product. So, as an example, if Arizona sells their cans at 33 cents per can to retailers who should he charging 99 cents, but are choosing to charge $1.49... that means the retail business is pocketing that extra 50 cents because they know they can. I make it a point to avoid paying more than 99 cents for these drinks wherever I see them. If more individuals avoid buying the inflated product, the price will have to go back down in order to move the product or lose money trying to over price the product.
Fast food in CA is learning that lesson
@nomadiclasers Arizona sells it to me for more than 65 cents a can. So of course there are stores out there that are trying to maintain their profit margins. I am still selling them for 99 cents. But how long can any business minimize their profits?
@@kaphish That's a complicated question. Because while you (I'm assuming is a small business like myself) are doing what you can to keep your prices low (and cutting into your profits to do so), Walmart, Kroger's, etc are quadrupling their price margins and bragging about record profits while "complaining" that they NEED to do it because of inflation. There are a couple of bigger problems that may never be addressed that would ease, or possibly minimize these issues. Sadly, they require government overreach because the "free market" has proven that it refuses to control itself and maintain a balance with how all of this works (and is set up). Until the greedy ones are forced to not be able to be greedy, they will lead the charge to unnecessary pricing of most products out there. The absolute best thing for our economy to recover is for a mass shift to happen in the consumer industry where the consumer turns to the small business/artisan/etc to get their needs met. If the smallest of the small businesses can be overwhelmed with sales, they will grow (quickly) into medium and large sized businesses with more reasonable pricing across the board. The long and short of it is we have two options for this experiment to survive: reboot/reset it, or destroy and completely rebuild it. The only quantitative change we can expect to see these days are the kind that takes LOTS of work and longer periods of time. We've wasted our short term gain currency and have completely run out.
American Media stunned by CEO not being a crook.
Reporter: "But we did so much work to make americans believe that you're allowed to be a crook and accepting of it. Don't you have responsibility to other CEO's to rip of consumers?"
CEO: "Uh...?"
The price has in fact gone up, it did so years ago.
Jackson's and other convenience stores mark up the price to $1.79 and up, by purchasing AZ cans that don't have the 99¢ logo.
Being from Arizona, I was like... Arizona Ice Tea from New York city! LOL I will continue to purchase their products over others. Some times I gotta love the privately held businesses. Hold your debts low. Save your cash to be more flexible in the market place. Debt is a tool, use it right or use it wrong. Looks like a lot of businesses have forgotten this rule. Love the humble business owners! I hope that they continue to make lots of money.
The price has in fact gone up, it did so years ago
I've been telling people for years that Arizona is truly for the people. They are a great brand. (Try the lemon tea)
The price has in fact gone up, it did so years ago.
@@jasonhammond4301 I bought a huge can last week for .99 at the gas station...just my experience
I love Arizona drinks and I'm always grateful. They did a good thing and didn't change it. Great story so glad you brought this to the table.
They, the rich investment firms, are doing this to healthcare and housing, too.
Yes! We've been fascinated by the fact that Arizona tea has been 99 cents since we were kids. It's dang good tea, too. Give the man his flowers.
The price has in fact gone up, it did so years ago
But he can’t stop stores like 7-Eleven from increasing the prices. Cause it’s over two dollars where I’m at.
That’s one of the reasons they started printing the $.99 on the can.
@@user-pw6ol5ck1p the stores can order cans without the $.99 on them.
I run a concession stand. They cost me .66 whole sale. We can't afford to sell them at .99 and pay our overhead.
This is why Arizona's the goat. And it's not the Costco model, it's the AriZona Model. AriZona Bev has been around longer than Costco.
The price has in fact gone up, it did so years ago
@@jasonhammond4301 still only 99cents in every city I've lived in.
@SwivelIanJ besides the fact that even in the few places they still offer the can with the price mark they have been increasing the price stores have had to pay them for many years, they have been no longer offering the marked can to most stores, and charge a lot more for the unmarked can they mostly sell now. My store has to pay around 90 cents per can just to get them into the store at all. I can't find anywhere within a couple hours drive of where I live that still has the marked cans. Doesn't matter if the price of a product didn't change if it's no longer available in many areas, and got replaced with the same thing but more expensive. Arizona is not any less greedy than other companies, and has in fact raised their price point overall among pretty much all of their products, including the single 23oz cans.
@@jasonhammond4301 sounds like you need to move. Every city I've lived in California, Arizona, Oregon, Washington, Idaho. 99 cents, in some cases you'll find AriZona cans without the price printed on them and those are the ones where the stores will charge more since there isn't the price printed on it. It was like that in the same states I mentioned. But the fact hasn't changed that they're still only 99 cents if you actually look. Hell the grocery store closest to me has them on sale right now for 79 cents. So if you're paying more, maybe look for a different vendor.
Good for him. It's unbelievable how out of control the corporate greed has gotten post pandemic. Especially when you figure in what a low percentage of revenue is paid to salaried workers that don't get bonuses in stock, a far cry from the way it used to be with RCA, Honeywell and the like decades ago. The major grocery producers are among the guiltiest, I hear that.
Good for you Don Vultaggio.
I have never been into a store in Canada that sells these cans for 99 cents. Even when it says 99 cents in the can.
Because as you know the Canadian currency is less value the the U.S. dollar
@@toxichammertoe8696 fair point…but $4.99 does not account for the difference in currency.
❤Costco 🇺🇲
@@toxichammertoe8696 not to mention transportation and import costs
@@doesntmatter3902 funny how those transport costs don’t come across in Alaska for the same product…
And no plastic pollution
Arizona beverage better than Arizona government.
My brother said this years ago "You know the economy is a joke. Look at Arizona Tea."
I think I will start buying Arizona tea. And join Costco. Thanks for this information.
Thank you so much.
Wait. These are no longer 99 cent in NYC. The price was raised here about a year or 2 ago. They are $1.25.
And, most of his products are in recyclable glass or metal, not plastic.
I lost seventy pounds drinking Arizona iced tea Arnold Palmer half an half lemonade with Chinese food and coffee ☕️ and no soda 🥤 for six months and boom 💥 ten inches from my pant size and from 4x to extra large ! Most effective and delicious diet ever !
Don's like one of the very, very few CEOs out there who are actually GOOD guys!
they're selling cheap sugar water so that's not doing anyone any favors except dentists
The price has in fact gone up, it did so years ago
This is not true. There are 99 cent cans that don’t have the ice t label on them. So the store sells them for $1.38
We make art from the cans! 🖼️
The reporters face says it all, loves the greedy companies that extort their customers. Pathetic.
He shows you can be successful without gouging your consumers
So they were price gouging so hard originally that they can still turn a profit on the original price 25 years later.
hahahhaha. they were cheap even back then. :) that's hilarious though.
Their competition sold smaller drinks at a similar price. This type of thinking and lack of awareness is why people think the left is a joke. The information is a search away and instead you make shit up.
I've switched from Pure Leaf (Pepsi Co) to Arizona myself. A lot of variety, and love their pricing. Also, NOT on the BDS list (and made in America!). Best choice.
I love this CEO! He is a billionaire, and he's very content with that. I've been a fan of Arizona and the owner for a while now. He runs a PRIVATE company. That's key.
"I'm just not going to buy groceries because I can't afford it." We live very different lives Ana.
There are a few convenience stores in the area that actually price sticker over the 99 cents on the can and sell for more.
Corporations are not people... But he is. God bless my friend & neighbor.
Except for their $1.69 for smaller bottle that they did. You can still get the can until they run out. And gas stations have raised the cans to 1.25 to 1.50.
That's on the gas station.
@@henryliu5566 if they were true to there statement they would speak out about it. They have succumbed to the shrinkflation as every other brand did. I can post proven pics tomorrow to prove their statements are in fact false. If said place even carries their teas outside of the last 99 cent cans before they're gone forever.
Hell yeah, owner of Arizona does something these competitor companys unfortunately DON'T DO.
The price has in fact gone up, it did so years ago.
@@jasonhammond4301 In corporate places yeah, I can see that. But... They're not like most Corporate price gougers....
@@antclerfont8478 they did gouge though
When asked if he would ever raise the price, he was honest and said at least not in the foreseeable future. I can respect his honesty. He could have easily said he'd never raise prices then raise prices and gaslight people later about it or act like he never said it. Honesty and genuineness is rare in this world. That Arizona Tea is absolutely delicious.
He made it very clear his company's debt-free and everything is paid for there's not one company on the stock market who can say that
He’s the GOAT for sure 👏👏👏🔥🔥🔥
I think Huey Fong,,, the hot sauce company did the same thing for as long as they could.
That's it, I'm buying Arizona. It's american made not from arizona but the company is american let's go😮
Costco is aussie dont be fooled😂
The price has in fact gone up, it did so years ago.
“We’re going to fight as hard as we can for consumers, because consumers are my friend.”
- Literally no one in the American economy, save for this absolute legend who is now my favorite person.
People are starting to sell arizona cans for up to 2 dollars now though
Publicly traded companies are the worst at this, profit driven greed built-in.
I have so much respect for him! Most companies use the pandemic and inflation as an excuse to price gouge. Not only do they raise the price but also give us less and lower quality products. I’ve noticed a drastic decline in quality of some of the food I buy.
The price did go up, though
Time to support Arizona drinks !!
They cost 79 cents at CostCo
Please send this to the Dollar Tree. What use to be $1 is now $1+.
What adds insult to injury is that the the products are getting smaller in volume, but prices are going up.
Ex.: Stars & Stripes Soda. It started out at 3 Liters. They lowered the volume to 2.75, now it is 2 Liters like a regular soda. Talk about corporate greed.
Dollar tree is just like family dollar; they both mean a family of dollars.
He has a lot of advantages. First, as he said, his company still owns its assets. Once those are paid off, you only need to incur maintenance costs to keep going. Property and other taxes are fairly small. Utilities (especially water prices) going up will hit, but probably not to an extreme amount on a per-can basis. It also helps that beverages (especially tea) are super high margin.
The biggest advantage,,, no stock holders to answer too.
Arizona tea may not be the best tea, but it is one I am still gonna buy very regularly because they are very pro consumer and fairly priced. Almost every other company has been chomping at the bit to find any excuse to raise prices.
I had this exact issue recently going to the corner store. They removed all cheap options to the point that beer is cheaper than most anything else.
The small can of soda is gone completely. That use to be the cheap option. Instead now, they got a larger soda can for 2.50$. Most other things that cost 2.50 are 2 for 5$ "bargain". I don't want two, I just want something to drink. Water was not available in smaller container at a cheap price.
After checking all options, I came to realize nothing I could buy was under 2.49$ for a single serving drink. A small bottle of apple juice was 4$, this is a ridiculous amount when a full size bottle at the grocery cost 2-3. A smaller milk was also 2.49$. That was the minimum price for any drink.
I did not realize it was that bad. Before the inflation spiral, you'd still find drinks for 1 to 1.50. The small soda can was around that. The small water bottle was around that. Now nothing under 2.50. Removing cheaper options on purpose like the small soda can and the small water bottle... and of course no Arizona Iced Tea.
This video is out of date. The price isn't printed on the cans anymore. Stores can charge what they want
and they do, they are usually $1.19 or $1.29 now in many regions for over a year now.
Now that is a good man!
The distributors still do lol. I work in retail management and remember when stores stopped carrying the cans because they cost more than we could sell em for
And his company never got a bailout, isn't subsidized by tax money, and minimum wage has gone from 3 to 15 dollars. And its stayed profitable at that (usually) same low price. We need him in congress!!
Makes me feel so good about all that Arizona tea I have been drinking
Perhaps TYT can get a sponsorship from them. The channel is struggling financially.
Anytime i go to a store and it's more than $1 i just leave to another store. They still go for a dollar it's the stores raising the price
Because they cost around .65-.70 whole sale. You can't expect a retailer to sell them for a quarter profit.
@@Anthony-bq8yd you would not be able to cover your labor and overhead and God forbid make a small profit to live on. 12oz sodas are about the same price for whole sale and I sell them for $1.5. It’s still hard to make it work with those margins
Somebody gets it, the "IT'S FINE" realization...
Give this man the medal of honor, he kept the price of his flavored sugar-water at 99 cents. 🙄
Most drinks are sugar water even water is more expensive
I am all for it. Consumers are my friend. Costco, Chick-Fil-A, In' N' Out have the best model. Once you are publicly traded you are done. These companies prove you can have both quality & success.
No, the point of democracy is to ensure no one should have that much pow… Kings shouldn’t exist, not even benevolent kings.
I'm a Republican voter but these business practices i agree with this is real free market
Well, you support a party they doesn’t think like you at all. Korporate profits, and given money to shareholders is the main cause of inflation. But the Republican party likes to blame it on the little people.
I will look for and promote the Arizona ice tea products!
I love arizona tea its pretty damn good. I get the green tea and mix in a little peach juice i have. Its amazing
Now it's time for corporate companies to lower their prices, but I would bet if Donald Trump wins the election for the sake of tax breaks then they will lower their prices either way I will vote for whoever is the democratic front runner wether it's President Biden or anyone else from the democtic party for the sake of democracy.
Those cans now sell for a minimum 1.49 in Jersey.
1.29 -1.49 depending on the store in NC
@@mstreemoon8117 He did a commercial with Ryan Reynolds about the price staying the same, to advertise his cell phone company doing the same thing. A month later the cans no longer had 99¢ printed on them., and stores raised the price.
The can may say .99 but every damn store is selling them for more…
Bless him
TLDR: Low operating costs are more important than high profit margins, over a long enough period of time.
This generates loyalty from your customers, and also protects you from market risks
will definitely buy that if i see it now
They sell them at pretty much every gas station and Walmart in every state that I've been in...not sure if they've made it overseas yet or what other countries it might be sold in.
The price has in fact gone up, it did so years ago
Can I say how much I love that Cenk has stopped screaming all the time? It pleases and sparkles and I've been meaning to say how much I love the change. So, I love it! I love not being yelled at while I'm listening to my news.
I actually love their beverage but can never find the regular lemon tea.
He doesn't set the end price. The retail out let does and the they charge more than .99. When I go to a whole sale warehouse they charge .65-.75 a can. You can't run a business making a quarter profit. If someone steals a couple you've lost you whole margin. This whole story is complete BS.
Lol a couple
Its 1.25 in NY now