Treat your investments like holdings in actual businesses is a common invocation on this podcast. To that end, today I talk to an entrepreneur on the front lines of business ownership. My high school classmate, Jeff Brown, is the owner of 12 grocery stores in Philadelphia. How does he survive in a brutally competitive low-margin environment? How did he respond to the additional challenges of Covid? How does he make being in food deserts work? It turns out there is an answer, and it’s not on the University of Chicago MBA curriculum: community involvement. Listen to the very end. There is a big reveal.