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All of those things are meaningless to a company on their own. This kind of decision comes down to one simple calculation: Is more profit likely to be generated
by annabellish 8y ago
All of those things are meaningless to a company on their own. This kind of decision comes down to one simple calculation: Is more profit likely to be generated from doing it, or from not doing it?
All the things you've mentioned are things which potentially increase profit, though the rollout is a big investment with a lot of risk, which decreases profit.
Also decreasing profit is having to pay your workers more, so in that sense, increases in minimum wage possible did contribute to this decision. The thing which people who point to that as a sign of minimum wage increases being bad miss is that these things are a moving target. Automated kiosks are getting cheaper every year, and at worst an increase in minimum wage brings it a few years closer.
That's not great for people working in jobs that were a few years away from being economically viable to automated, but they'll still benefit in their next job, and a huge chunk of the population still benefits (and thus the economy overall)
- afpx 8y agoYes, of course, decreasing costs always makes sense, but Forbes makes it appear that that’s the driving force, One thing the last few decades has shown particularly well is that often it’s easier to make money through growth than through cost cutting. Of course, this isn’t universal, especially within tiny markets, commoditized offerings, or when growth has plateaued.