Culture Builds Towns

Why culture matters and why, (a legitimate question) do investors not understand this?

I sit in a charming small town cafe in the middle of the country in Oklahoma. If I am a fly on the wall, I’ve been a fly for a couple years now. Sitting quietly in my corner, watching the slow development of condominiums being built. I’ve watched businesses come and go within that short stint of time. Next door was once a unique barbecue place, replaced by a franchise I’ve never heard of and one I’ve never seen anyone enter. The exciting news within the year was that a McDonald’s, an Arby’s, a Scooter’s, and a Chick Fil A would move in. The calvary has arrived. The copy and paste has come in to inject familiar brands into a budding town. This is good news if the same four a mere mile away was too far of a drive. I understand the economics of it all. Money first and then those artsy needy types can move in. Unfortunately for the economics department, this is all backwards. Unfortunately for the citizens, they get the stale cafeteria settings of a rest stop they never asked for. When they sell their homes, the description can say, “Just down the street from three McDonald’s! Your quaint oasis awaits you.” The truth is, that culture is the foundation of any town or city. Ignore this at your own peril.