Landry’s CEO Tilman Fertitta said on CNBC that at only 25% maximum capacity New York restaurants are going to go out of business.
Businesses that aren’t using mobile messaging are losing potential customers.
By far, the hardest hit segment of the economy impacted by the forced government closures mandated by various state governor executive orders over the last six months has been restaurants.
Entrepreneur James Altucher says that New York City is dead forever. He says the forced business closures have permanently altered how business is done making it unnecessary for employees to remain in the city.
What’s happened is the world has accelerated from physical to digital across almost every industry.
We expect around one in four restaurants to close and to not be able to return because of COVID says OpenTable CEO Debby Soo. Unfortunately, now we think that number might even be conservative.
Tilman Fertitta, Landry’s chairman, and CEO talks about his frustration with the incompetence of the State of New York and the City of New York in dealing with restaurant reopenings.
Some things in the new world will change forever. Customer meetings will change forever. In the past, I never thought that I could do a Zoom call or a Teams call with the CEO of a company I’m trying to sell to.
When you say you’ve done something, say you’re cleaning the refrigerator, and you’re actually outside smoking a cigarette, I know because of geotagging that you didn’t clean that when you said you did. It’s really about accountability of duty of care.
Luxury online retailer Farfetch, where prices start at around a thousand dollars, had a breakout IPO on Thursday raising $885 million while setting a valuation of $6.2 billion on the company.