In The Shark Tank
The full-service restaurant category is one of the service industry's most dynamic and challenging sectors. In recent years, restaurant owners, operators, and even workers have had to navigate through several challenges, including changes in consumer preferences, rising costs of goods, and regulatory hurdles. Recently, one of the most significant challenges facing restaurants is the imposition of punitive policies from growing government intervention in how the industry does business.
Last week Kevin O’Leary of Shark Tank fame appeared on CNN, speaking to the regulatory and burdened business climate in states like California and New York. O’Leary described choices that business owners are making to take their businesses out of these places and move them to friendlier states and even overseas. He explains the reason businesses are exiting is because of tax laws and policies, which he claims punish them for being successful. O’Leary cites the 2019 Amazon debacle spearheaded by Representative Alexandria Ocasio Cortez as an example of how our elected officials hold a negative view regarding job creation. Thousands of Amazon jobs were never to be as AOC, along with Seattle City Council Members Lisa Herbold and Teresa Mosqueda railed against the company’s plan to build Amazon HQ2 in New York.
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