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A lot of is is that restaurants are largely built by wealthy people for their own social niche. They aren't designed to be profitable businesses, but more as a
by mozumder 9y ago
A lot of is is that restaurants are largely built by wealthy people for their own social niche. They aren't designed to be profitable businesses, but more as a social device for their owners.
If you're wealthy in New York City, you will eventually be asked to fund a restaurant.
- chewz 9y agoDo you suggest that restaurants in NYC are sort of charity financed by wealthy for public good?
- 88 9y agoI don’t suppose many restaurants are intended to make a loss. Vanity projects, certainly. Some are fronts for money laundering, of course. But charity, not exactly.
- SilasX 9y agoI assume yes, as long as "the public" is limited to the niche group of rich people it caters to.
- notyourday 9y agoIt is largely a social circle thing.
- gm-conspiracy 9y agohttps://en.wikipedia.org/wiki/Fashion_Cafe https://en.wikipedia.org/wiki/Fashion_Cafe The food was not that good.
- Kuiper 9y agoOn the subject of wealthy people having restaurants for "social reasons," this article is an interesting read: "The Thrill of Losing Money by Investing in a Manhattan Restaurant": https://www.newyorker.com/business/currency/the-thrill-of-losing-money-by-investing-in-a-manhattan-restaurant https://www.newyorker.com/business/currency/the-thrill-of-lo...