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With the VC and profit margins of the headliners, asking a tech firm to pay more "feels normal". My understanding is that most restaurants aren't in a position
by derivagral 9y ago
With the VC and profit margins of the headliners, asking a tech firm to pay more "feels normal".
My understanding is that most restaurants aren't in a position to pay much more; are the urban demographics different enough to support such a thing?
- mtmail 9y agoThe article describes growth in the number of restaurants (and thus customer demand, more people dining out), so restaurants could increase prices.
- Thriptic 9y agoIf you can't afford to pay enough to retain labor, you need to charge more for your products or give labor equity. If you can't make money doing this (ROI not good enough if equity is diluted or people won't pay more for what you're selling) then you should not be in business.
- jmagoon 9y agoThe issue I have with restaurants saying they cant pay more is that FOH staff often bring in close to 10x of BOH. So there's actually plenty of money to go around, it just comes in the form of a mandatory 20% tip to a single person. Eliminate tipping, raise your prices, pay all your employees on an equivalent scale, give them healthcare and vacation time, and watch the "shortage" go away.