It’s difficult to pinpoint the exact moment when genuine enthusiasm for novel technology shifts into mere hype. However, when a sandwich chain featuring Danny DeVito discusses artificial intelligence in its initial public offering documents, it feels like we’re crossing into absurd territory.
Such is the case with Jersey Mike’s.
Given the current investor obsession with AI, it’s understandable that tech firms are eager to infuse their presentations with references to this technology. This trend applies not only to AI-centric enterprises but also to other startups seeking venture capital, as well as companies like Bending Spoons, known for revitalizing aging tech firms.
Out of curiosity, I reviewed the IPO documents for Jersey Mike’s to see to what extent this trend extends. One might assume a sandwich shop wouldn’t find it necessary to mention AI in its filings—but to my surprise, it did!
The phrase “artificial intelligence” and its abbreviation “AI” appeared a staggering 22 times. While Jersey Mike’s doesn’t offer AI software, investors are evidently hungry for mentions of AI (and yes, that was a pun).
Interestingly, the company managed to incorporate AI into its investor risk disclosures, which adds a layer of humor. They provided scant details on how AI could pose a risk, simply stating, “We are beginning to use AI Technologies in our business.”
To be fair, as a franchise operator, Jersey Mike’s relies on software—cited 52 times—and data—mentioned 112 times—just like any other business. Their mention of AI-related risks seemed more like standard legal jargon, perhaps a precaution after other food chains faced setbacks, such as the flawed AI inventory system Starbucks launched, which had to be scrapped due to inaccuracies.
That said, I feel compelled to assert that the likelihood of an AI mishap occurring in a company dedicated to making actual sandwiches is comparable to a franchise being struck by lightning—a rare incident that actually occurred at a Texas shop in 2021. Oddly, weather events were referenced just five times in the S-1, and lightning received no mention at all.
