PepsiCo makes beverages and snacks that satisfy fundamental human biological needs — AGI cannot disrupt hunger, thirst, or the desire for a cold Pepsi and a bag of Doritos.
PepsiCo is one of the world's largest food and beverage companies, operating a diversified portfolio of beverages and convenient snack foods. Unlike its name might suggest, PepsiCo derives more revenue from its Frito-Lay snack foods division than from beverages. The company owns iconic global brands across both categories and operates one of the world's most extensive food and beverage distribution networks. PepsiCo has a significant direct-store-delivery (DSD) system, manufacturing facilities, and a presence in over 200 countries.
Grocery retailers (Walmart, Kroger, Costco), convenience stores, mass merchandisers, foodservice operators (restaurants, stadiums, schools), vending operators, e-commerce platforms, and independent distributors globally. Walmart alone accounts for approximately 13% of revenue. End consumers span all demographics globally.
PepsiCo manufactures and distributes physical beverages (Pepsi, Mountain Dew, Gatorade) and snack foods (Lay's, Doritos, Cheetos, Quaker). AGI cannot drink a soda or eat a chip for you. The entire value chain — ingredient sourcing, manufacturing, distribution, and retail — is deeply physical. AGI cannot disrupt human thirst, hunger, or the desire for flavored food and beverages. Customers are retailers and individual consumers serving fundamental biological needs. Even in an AGI-dominated economy, people need to eat and drink. PepsiCo's massive direct-store-delivery system is a physical logistics operation.