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This is my general response whenever these types of articles appear. If your labor costs are insanely high, you need to raise prices. If people won't pay more f
by Thriptic 8y ago
This is my general response whenever these types of articles appear. If your labor costs are insanely high, you need to raise prices. If people won't pay more for your products, you need to create better products worth more money, give staff equity and reduce profit, or shut down.
- closeparen 8y agoThese types of articles are based on the assumption that we would like to continue having restaurants & the fact that they are (slowly) becoming economically nonviable is a social problem.
- xyzzyz 8y agoIf rising prices reduced the demand so much that they become economically nonviable, then it means that we actually don't like having restaurants all that much, otherwise we'd pay.
- closeparen 8y agoVoting with your wallet is only one way of expressing a preference. San Francisco in particular also likes to vote with its votes. We may not care enough about restaurants to pay what they really cost, but by all accounts we’ll care enough to vote for a ballot measure that makes “big developers” and “the techies” pay for them.
- xyzzyz 8y agoIndeed, residents of Bay Area definitely like trying to vote away the microeconomics of supply and demand.