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Survivor bias. New restaurants open and close within a few months all the time. You aren't looking for them now because they weren't there long to begin with.
by lostapathy 7y ago
Survivor bias. New restaurants open and close within a few months all the time. You aren't looking for them now because they weren't there long to begin with.
- CydeWeys 7y agoNot relevant though, because the coronavirus is going to be killing many of even the previously long-established, previously profitable, well-run restaurants. It's a difference in kind. It doesn't matter so much when new restaurants churn (because that's the established order of things), but when all restaurants churn, now you've got a huge problem.
- xwdv 7y agoNo you don’t, the restaurant industry isn’t “too big to fail”, people can still eat food. And new restaurants will absolutely pop up to replace the ones that were gone, especially if they are lured in with discounts due to the excess supply of restaurant real estate. Only the best restaurants with strong support for takeouts and deliveries will survive, and that’s a good thing.