McDonald's collected $10.4 billion in rent in 2025 and $6 billion in royalties. The McNugget only went national once a little-known Ray Dalio worked out how to hedge chicken through its feed. This week is about the business behind the business: the moat behind Nvidia's chips, the rent a familiar brand collects, the volunteers who keep your phone's clock…
ZD 26.42: The Great Chicken Feed Hedge
Find the business behind the business for the win.
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