Home / Business and Economy / Chef's $20B Tech Bet: A Recipe for Riches?
Chef's $20B Tech Bet: A Recipe for Riches?
16 May
Summary
- Chef Colicchio achieved a 15x return from Bending Spoons investment.
- Bending Spoons acquired underperforming apps, re-monetizing them.
- Restaurant industry faces challenges with rising costs and fewer diners.
Tom Colicchio, renowned chef and restaurateur, has achieved remarkable success beyond the culinary world, notably through his investment in the tech conglomerate Bending Spoons. This Milan-based company, which acquires and re-monetizes underperforming consumer apps, provided Colicchio with an estimated 15x return on his early investment and is now rumored to be preparing for a U.S. listing that could value it at nearly $20 billion.
Despite this financial triumph, Colicchio candidly addresses the significant challenges facing the restaurant industry in 2026. He highlights soaring food costs, with beef prices up approximately 30% and essential ingredients like olive oil significantly repriced. This economic pressure forces difficult decisions, such as reducing the complexity and luxury of dishes, and struggling to fill dining rooms, especially during weekdays due to hybrid work models.
Colicchio also observes a broader cultural shift toward risk aversion in both diners and operators, leading to more standardized menus. He links this to wider economic anxieties, including those surrounding AI and tariff disruptions, which he believes are impacting creative industries. Colicchio's diverse investment portfolio, encompassing around 30 companies, reflects his disciplined approach to not solely relying on his primary profession.
