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[Culinary Trends and Industry Shifts: A Thanksgiving Special]-[The Thanksgiving Food Episode!]

After Hours · B2 · 2022-11-21

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📋 Summary

The Evolving World of Food: Trends, Business, and Culture

In this special Thanksgiving episode of After Hours, hosts Felix, Mihir, and Youngme dive into a wide-ranging discussion about the food industry, exploring everything from the global rise of Korean cuisine to the complex financial maneuvers of major food conglomerates.

The Global Surge of Korean Cuisine

Felix highlights the "astounding" growth of Korean food, noting its presence at all levels of the culinary scene, from ubiquitous fried chicken to the increasing number of Michelin-starred Korean restaurants in New York City. This trend is not accidental; it is part of a "concerted effort" by the Korean government to export its culture, encompassing K-pop, K-drama, and K-beauty. The hosts agree that the appeal lies in the "bold flavors" and distinct textures, such as "crispy rice," which satisfy a modern craving for comfort food. Furthermore, the cultural resonance of works like Parasite and Squid Game suggests that Korean creators are uniquely "attuned to what the moment is," allowing them to tap into broader global conversations.

Kellogg’s and the Economics of Price Increases

Mihir brings attention to a significant business story: Kellogg’s decision to spin off its snack and cereal divisions. This move challenges traditional business logic regarding distribution power, focusing instead on "managerial attention" and "capital allocation." A central theme of the discussion is the industry's aggressive approach to pricing during high inflation. Companies like Kellogg’s and Frito-Lay are raising prices significantly—often by 15-25% on items like Pringles—while accepting "volume declines" of 3-5%. Felix argues that executives are often "way too careful with price increases" due to an irrational fear of losing market share, noting that "your bias should always be towards price increases" because they fall directly to the bottom line.

Plating Trends and the Future of Sustainability

Youngme observes a shift away from the "hegemony of the large plate" in fine dining. She notes three emerging trends: the use of organic materials like tree stumps, unconventional receptacles like test tubes, and "mix and match grandma plates." While the hosts appreciate the move toward informality, they express skepticism toward overly "precious" plating, with Felix noting he is "so tired of the smear."

On the topic of sustainability, Felix argues that current recycling efforts are largely a "hoax," with only about 5% of all plastics being recycled. He advocates for a systemic shift away from plastic packaging entirely, rather than relying on the illusion that better sorting will solve the problem. The hosts agree that the hierarchy of "reduce and reuse" must take precedence over the flawed economics of plastic recycling.

Food as Cultural Narrative

Finally, the conversation shifts to how food is depicted in media. Youngme notes that food scenes in modern television, such as The Bear or Succession, have become essential for "character exposition." The hosts also discuss the critical role of rice in the global climate conversation. Mihir points out that rice cultivation is a major source of methane emissions, yet technological innovations in irrigation can reduce these emissions by up to 60%. The episode concludes with recommendations ranging from the Negroni Spagliato to Grace Young's The Wisdom of the Chinese Kitchen, reinforcing the idea that, as Mihir puts it, "you see the whole world in food."

🎯Key Sentences

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I'm mainly eating, I think, is the best plan.
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I will let you know how it goes.
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And speaking of trends, we each just brought observations about the food industry.
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It is just astounding how the food industry has turned to Korea.
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It all sort of comes together.
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📝Key Phrases

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food on the brain
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made a concerted effort
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tapping into
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attuned to
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topic du jour
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📖 Transcript

Ted Audio Collective Hello everyone, this is After Hours.
I'm Felix. I'm Mihir.
And I'm YoungMih. And we are celebrating Thanksgiving!
And we're thankful to have you back, YoungMih.
Oh well, I'm so happy to be here.
Yes, we thought a little Thanksgiving gift to everyone would be nice.

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