> The long term trend is that (primarily take-out) restaurants will decline and be replaced by ghost kitchens. If you mean takeaways will stop having so many s

> The long term trend is that (primarily take-out) restaurants will decline and be replaced by ghost kitchens. If you mean takeaways will stop having so many storefronts, sure. But for sure restaurant brands are not going virtual - you'll have your Dominos but most restaurants are going to mainly be in person eateries. There's this tendency to over-estimate the impact of major events as you're in the centre of them... once COVID is "over" we're going to see a boom in eating out, as people rush back to normal life. It ain't going change so much. The reason it's so hard to make money out of a restaurant is not because rents are high (people will travel to good restaurants) it's because the competition is so damn fierce.