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The ultimate test of fast-food physics is arriving in Miami.

Chick-fil-A is expanding its footprint in the Sunshine State with a new delivery-only “ghost kitchen” in Miami’s Wynwood neighborhood, marking a strategic move to bypass the real estate constraints of traditional brick-and-mortar restaurants.

Operating within the CloudKitchens network, the location is the privately held fast-food giant’s first delivery-only kitchen in Florida and just its sixth nationwide, allowing the company to maximize kitchen capacity and meet demand without the overhead costs of a traditional dining room.

CHICK-FIL-A FRANCHISEE SUED AFTER ALLEGEDLY FIRING EMPLOYEE OVER SABBATH OBSERVANCE

The restaurant is located at 1900 NE Miami Court, and will fulfill orders primarily through third-party delivery platforms, according to a Chick-fil-A press release. It is open Monday through Saturday from 10:30 a.m. to midnight – two hours later than Chick-fil-A’s typical dine-in or drive-thru closing time.

Employees prepare fried chicken sandwiches for guests during an event ahead of the grand opening of a Chick-fil-A restaurant in New York. (Getty Images)

The new Wynwood location is expected to create approximately 30 local jobs, offering hands-on training, mentoring and competitive benefits.

“We know how important fast and reliable delivery is to Wynwood, and we want to meet the community where they are while keeping our signature hospitality,” owner-operator Thomas Overby said in the release.

“Being born and raised in Miami, serving this community is very special to me. Our new delivery kitchen location gives us the opportunity to serve the Wynwood community in a way that works best for them and gives me the privilege to deepen my connection with my hometown,” he continued.

While traditional restaurants face constraints including seating capacity, kitchen square footage and limited hours, a delivery-only kitchen allows the brand to serve a larger customer base and operate at full capacity without paying for prime retail real estate or dining room upkeep.

Partnering with established kitchen infrastructure networks like CloudKitchens allows the company to rapidly deploy its delivery framework into high-density urban areas such as Miami.

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Unlike its publicly traded competitors, Chick-fil-A is a privately held company with no public shareholders and reigns as America’s third-largest quick service restaurant. The slow rollout of its “ghost kitchen” model mirrors similar smaller-scale moves Chick-fil-A has made in recent years, like opening five stores in its first expansion into England and just one in Singapore – a city with more than 6 million people.

Chick-fil-A’s other five delivery-only locations operate in College Park, Maryland; Nashville, Tennessee; Louisville, Kentucky; Boston, Massachusetts; and Northern California.

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Key Takeaways

Economy, Trade, and Industry

The Thai shrimp industry, once the world’s largest, is under significant pressure following Malaysia’s ban on imports, prompting Thailand to explore premium market alternatives and consider filing a formal challenge through the WTO and ASEAN. Meanwhile, Thailand’s shrinking trade surplus is raising concerns about baht stability, even as the country’s private sector is being urged to lead recovery efforts in the wake of disruptions to Hormuz shipping routes.

On a more positive note, Thailand ranks second globally for AI adoption growth, according to Microsoft, signaling strong momentum in technology development. TikTok has received approval for a $25 billion data-center buildout, anchoring a broader $29 billion AI infrastructure wave in the country. Additionally, Continental has inaugurated an expansion of its tire plant in Rayong, reflecting continued foreign industrial investment, although car production fell to its lowest level in five years in April.

Thailand is also actively aligning with regional trade frameworks. The country is participating in RCEP-driven initiatives linking Chinese sourcing to Thailand’s Industry 4.0 ambitions, while Vietnam and Thailand are pursuing a higher bilateral trade target with strengthened logistics integration.

Tourism, Travel, and Immigration

Tourism remains a central pillar of Thailand’s economic strategy, with several major developments underway. Thailand is set to launch the THIM (Thailand Immigration Management) app before August 2026, a high-tech digital arrival system designed to streamline immigration processing, reduce waiting times, and support group travelers with full digital arrival management.

In a significant policy shift, Thailand has reduced visa-free stay durations for over 90 countries, including the United States, in response to concerns over tourist misbehavior. The move reflects a broader effort to attract higher-quality visitors rather than prioritizing volume alone.

Thailand’s Tourism Authority (TAT) is actively promoting the country across Europe, having launched the Amazing Thailand Fest 2026 in Amsterdam, spotlighting Thai food, wellness, and cultural heritage. The campaign is part of a strategic gastronomy and lifestyle push targeting European markets. Thailand also introduced a Gold Card benefit expansion covering gender-affirming hormone therapy, broadening its appeal as a medical and wellness tourism destination.

Domestically, Pathum Thani is working to transform the “Eye of Thailand” into a global landmark, while Four Seasons Resort Koh Samui has launched coral reef conservation efforts to support sustainable tourism. Thailand’s wellness sector is experiencing growing international interest, with new experiences launching in June 2026.

Politics, Governance, and Security

Thailand’s political landscape continues to evolve. Pita Limjaroenrat is strategizing a path forward for democratic reform, while a Democrat MP has warned that policy discontinuity remains the deepest wound in Thailand’s education system, contributing to a vicious cycle that disproportionately harms children from lower-income households. A separate report highlights that Thailand’s “free education” policy is failing the poor due to structural and resource inequalities.

On the legal and security front, Thailand has acquitted political leader Pita Limjaroenrat of lèse-majesté charges, a significant ruling in the country’s ongoing political discourse. The government has also launched a sweeping immigration crackdown titled “No Entry, No Stay, No Escape,” which has resulted in approximately 14,000 detentions over five months.

A Japanese man has been arrested at a Thai airport in connection with an alleged yakuza-linked call-center scam based in Cambodia, highlighting ongoing cross-border organized crime challenges. Thailand’s Consumer Council has also filed lawsuits against four global digital platforms over scams, reflecting a tougher regulatory stance on online fraud.

Regional Affairs and Diplomacy

Thailand is navigating several complex regional relationships. The Thai-Cambodian maritime dispute is evolving, with analysts noting that UNCLOS conciliation frameworks are changing the negotiating landscape following years of deadlock since the 2001 MOU. Cambodia has experienced a 70% drop in its overseas workforce following border tensions with Thailand, with Vietnam emerging as a potential beneficiary of the disruption.

Thailand-Taiwan ties are deepening, with Executive Director Narong making a third visit as Taichung’s mayor pledges to strengthen international engagement. Meanwhile, Vietnam and Thailand are seeking stronger defense cooperation and have committed to creating new momentum in bilateral ties.

Thailand is also advancing LNG trade talks with the United States as conflict impacts Qatar’s export capacity, and a new southern peace negotiator has pledged an open-minded approach to longstanding regional tensions.

Society, Health, and Human Interest

On the humanitarian front, the UN has praised Thailand’s decision to offer jobs to Myanmar refugees, describing the initiative as a potential blueprint for other Asian nations facing labor shortages. The WHO is simultaneously strengthening health emergency risk assessments in Thailand, and the U.S. Embassy has issued an alert regarding enhanced Ebola screening measures currently in effect.

A tragic incident involving a six-year-old boy killed by his grandfather’s pet monkey has drawn widespread attention and prompted calls for stricter exotic pet regulations. Separately, a married couple reportedly died by suicide at a Bangkok hotel, jumping from a balcony while holding hands amid reports of severe financial debt — a sobering reminder of the pressures facing vulnerable individuals.

Thailand’s monsoon season has prompted nationwide alerts for heavy rainfall, while education experts warn that children are falling behind academically in ways that could have long-term consequences for the nation’s development.

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Unknown Analyst

Maybe to start, if you could provide us an overview of your company for those who may not be familiar, including the updates that we’ll see within the next year.

David Hallal
CEO & Chairman of the Board

Great. Thanks, Tommy. It’s great to be here once again at the 47th Goldman Sachs Healthcare Conference. David Hallal, Chairman and CEO of Scholar Rock, which is a Cambridge-based biotech company that has been focused on myostatin biology, and we’re very proud that we are the world leaders in myostatin biology. This is obviously a target that was identified in 1997.

The first anti-myostatin inhibitor went into the clinic in 2004, 2005. And really, over the period of these last 20-some years, there have been multiple myostatin inhibitors that have failed in clinical development. We stand alone with our unique technology platform and approach to myostatin biology as the first and only company that has successfully developed a myostatin inhibition program through mid- and late-stage development with a successful Phase III trial with our lead asset, which is apitegromab for children and adults living with SMA.

As Tommy has asked, what does the next 12, 18 months look like for our company? We’re super excited having hit a statistically significant and clinically meaningful benefit in motor function with the highest gold standard measure of the Hammersmith Motor Function Scale in SMA for children and adults living with SMA to now be on file with both

The joint venture between Mukesh Ambani‘s Jio Financial Services and the world’s largest asset manager has amassed about 180 billion rupees ($1.9 billion) in assets under management in roughly a year since ‌its launch ⁠by building ⁠a base in cash, debt-index and active equity funds.

It plans to start with equity-focused ETF strategies.

BlackRock oversees about $5.1 trillion in ETF assets globally, more than a third of its total assets under management, underscoring the importance of the product line to its franchise. Jio BlackRock currently ranks as India’s 29th-largest asset manager.

“ETFs are a long-term play. While it is a predominantly institutional heavy market (in India), retail are starting to get more involved in ETFs. ⁠And we ‌can see from global trends how well ETFs have been adopted as a choice for investing,” Sid Swaminathan, managing director and chief executive officer of ⁠Jio BlackRock Asset Management, told Reuters.

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ETF INNOVATION COULD BOOST LIQUIDITY
Passive mutual fund assets in India stood at 15.20 trillion rupees in April, or about 18.5% of the industry’s 81.94 trillion rupees in average assets under management, according to data from the mutual fund industry association. By comparison, equity index funds and ETFs account for about 45.3% of long-term mutual fund and ETF assets in the U.S.

Swaminathan said tighter bid-offer spreads and more innovative strategies could help improve liquidity and boost ‌retail participation in Indian ETFs.

The company also plans to launch products in Gujarat International Finance Tec-City (GIFT City), India’s low-tax financial hub competing with centres such as Singapore and Dubai, within the ⁠next couple of months.

COMPLEX PRODUCTS PROMPT PIVOT TO DISTRIBUTOR-LED MODEL

For more complex offerings, including special investment funds and GIFT City products, Jio BlackRock has adopted a distributor-led model rather than a digital-first approach, reflecting the continued role of advisers in selling higher-ticket products.

Swaminathan said the decision to prioritise those launches was partly shaped by market conditions. India’s benchmark Nifty 50 is down 11.1% so far in 2026 amid foreign outflows, higher oil prices and moderating earnings growth, while MSCI’s Asia-Pacific ex-Japan index is up 18.2%.

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