Warren Buffett on McDonalds 🍟 vs. Dairy Queen 🍦 (1998)

Buffett gives his thoughts on McDonalds versus Dairy Queen.

McDonald's is the world's largest restaurant chain by revenue, serving over 69 million customers daily in over 100 countries across 37,855 outlets as of 2018. Although McDonald's is best known for its hamburgers, cheeseburgers and french fries, they feature chicken products, breakfast items, soft drinks, milkshakes, wraps, and desserts. In response to changing consumer tastes and a negative backlash because of the unhealthiness of their food, the company has added to its menu salads, fish, smoothies, and fruit. The McDonald's Corporation revenues come from the rent, royalties, and fees paid by the franchisees, as well as sales in company-operated restaurants. According to two reports published in 2018, McDonald's is the world's second-largest private employer with 1.7 million employees (behind Walmart with 2.3 million employees). As of 2020, McDonald's has the ninth-highest global brand valuation.

Dairy Queen (DQ) is an American chain of soft-serve ice cream and fast-food restaurants owned by International Dairy Queen, Inc., a subsidiary of Berkshire Hathaway. International Dairy Queen, Inc., also owns Orange Julius, and formerly owned Karmelkorn and Golden Skillet Fried Chicken. The first DQ restaurant was located in Joliet, Illinois. It was operated by Sherb Noble and opened for business on June 22, 1940. It served a variety of frozen products, such as soft-serve ice cream. The company's corporate offices are located in the Minneapolis suburb of Edina, Minnesota.

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