Answer these questions:

What are long-term business drivers (item 1 of annual report) and how the strategy is realized
(e.g. new restaurants openings, marketing campaigns, etc.)?

How well the company is positioned to maintain competitive advantages (intangible assets,
switching costs, network effect, cost advantage, and efficient scale)?

How well the company is positioned to recover from the post-pandemic?

What are major threats (risk factors) to competitive position (including market risks from 10k)?

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