In this episode, hosts Gordon and Jose discuss issues plaguing the restaurant industry, including labor shortages and customer expectations. They analyze a New York Times article by food reporter Corey Mintz, who proposes solutions related to tipping policies and operational models. The hosts also discuss how technology, like artificial intelligence in dynamic pricing, can be leveraged to improve profitability. They take into account examples of businesses implementing non-tipping policies and the importance of adopting innovative strategies to deal with dwindling profit margins and labor shortages.
00:00 Introduction: The Problem with Your Favorite Restaurant
00:27 Meet the Hosts: Gordon and Jose
02:30 The Current State of the Restaurant Industry
02:41 Workforce Issues and Management Challenges
11:03 Proposed Solutions: Rethinking Tipping and Customer Expectations
15:18 Dynamic Pricing: A Technological Solution
18:56 Conclusion: Embracing Change for a Sustainable Future
Article referenced:
https://www.businessinsider.com/restaurants-america-eating-out-crisis-your-fault-labor-shortage-tipping-2024-2
