Shake Shack (SHAK) founder and Union Square Hospitality Group CEO Danny Meyer joined Yahoo Finance Executive Editor Brian Sozzi on Opening Bid to share his thoughts on the restaurant industry and evolving landscape. Back in 2015, Meyer took on an initiative to phase out tipping in favor of other more equitable approaches to pay between front-of-house and kitchen staff. But during the COVID-19 pandemic, he had to bring tipping back “because it was the only way to attract enough workers back to our restaurants.”
On a personal level, he said “I don’t think you have to leave a tip in any restaurant or any taxi cab or any, wherever tips are left. It’s a hard thing though. I understand because I’m a consumer as much as I am a food provider.”
For full episodes of Opening Bid, watch on our website or listen on your favorite podcast platform.
This post was written by Rachael Lewis-Krisky, producer for Opening Bid.
