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by steveBK123 1200 days ago
Any job where the amount of labor has a fixed proportion to the possible economic output will at best track inflation.

Software can pay well because the code you write can service 100, 1K, 1M, or 1B customers.. with some time spent on scaling.

There's not much a single chef can do such that their labor which serves 100 tables/night can suddenly scale to serve 1000 tables/night.

The only way the replicate that kind of outcome in restaurant trade is to for example, open multiple restaurants with investor capital, hire cheaper chefs as your understudy to run each location, while you set menus, standards, and find efficiency on things like procurement, accounting, lease deals, etc.

Other options are to move more aggressively into some sort of profitable takeaway menu, selling food kids, branded merchandise, etc.

1 comments

Yes, this. Doctors and Lawyers do pretty well, but they delegate a lot of stuff to paralegals, associates, PAs and nurses, so that they can focus on the high-value work. The work itself in those fields also generates a lot of value either in a legal decision that can scale with the business, or a life saved, so they can capture a lot of that value. It doesn't matter how good a meal you can make, it's not going to give someone 5 more years of life or keep them out of jail for 5 years.