Making labor more expensive ain't it
I'm developing 2 parcels of commercial retail space right now and have probably seen 40 or 50 business plans in the last 6 months from prospective tenants. One feature of nearly every concept is reduced labor needs through automation and self-service. It's already too expensive to hire people ... having overtime kick in at 32 hours would be a major issue.
Restaurants are going to counter service concepts, medical/aesthetic providers are going to self service check in kiosks, fitness is going to unstaffed models, coffee shops are going to super automatic machines like you see in airport lounges with just a cashier instead of having an actual barista making drinks, etc ... that's just of the concepts that I know we have going in.
I also heard today that one of the bike rental companies down here is about to go to like a Citi bike model where the bikes will just be docked and you pay a kiosk to undock one.
I *really* worry about how many jobs are going to be obsoleted and what that's going to do to society.
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In response to this post by HokieJamie)
Posted: 03/14/2024 at 2:01PM