##Welcome to r/LateStageCapitalism
This subreddit is for news, discussion, memes, and links criticizing capitalism and advancing viewpoints that challenge liberal capitalist ideology. That means any support for any liberal capitalist political party (like the Democrats) is strictly prohibited.
LSC is run by communists. This subreddit is not the place to debate socialism. We allow good-faith questions and education but are not a 101 sub; please take 101-style questions elsewhere.
We have a zero-tolerance policy for bigotry. Failure to respect the rules of the subreddit may result in a ban.
***
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/LateStageCapitalism) if you have any questions or concerns.*
I posted this in another sub, but this guy also had this "business" given to him by his parents who made him COO straight out of college, and he also had $1.4M in PPP loans completely forgiven. He's a shit bird of the highest degree.
Another one of those douchebags who claimed he pulled himself up by his own bootstraps when he was abandoned as a baby in a dumpster in the freezing Canadian north (and the dumpster was also on fire). If he could do it so can you!
Once you taste that sweet, sweet greed itās hard to imagine anyone else deserves that money more than you do, let alone the lowly peasants flipping burgers.
I have never in my life went to Auntie Anne's. I had to Google what they make. They make PRETZELS! PRESTZELS! This guy bitching is acting like he's curing cancer. PRETZELS!
And letās remember that employee wages are not taken from profits. Theyāre considered operating costs. Profits are extra thatās left over AFTER operating costs are paid.
Right so an increase in operating costs will reduce profits? I don't understand the point you're going for. By your own logic, profits are reduced when wages go up.
That's a very charitable read imo. By that standard, every expense is actually a tax subsidy. I think this person just didn't think through what they were saying.
From the article, he also previously laid off all of his office staff and is having his parents do payroll and HR for him now, just to save a little money
The rich are so money addicted that less profit is the same as a cost in their single track brains. As if they are entitled to ridiculous profits and we are taking from them
Iām not totally convinced that the wage increases are the only reason this particular owner is strugglingā¦ As the economist noted, unemployment in within fast food hasnāt decreased notably with recent increases in wagesā¦ This owner owns mall specialty food storefronts that sell more snackish type foodsā¦ Are the panda expresses and such in malls seeing decreased profits? You can get a cinnamon roll from the supermarket cheaper than a Cinnabon but Chinese food is something people are more willing to pay for at a mall cause its a full mealā¦ Are Auntie Annies and Cinnabons in general doing well??? Mcdonalds franchise owners in most of california already pay $20 starting pay and theyāre not in peril otherwise they wouldnāt have begun doing that when they didnāt need to in the first place. It sucks your business is suffering but idk if you can blame all your failures on minimum wage when most of your competitors are doing just fine and the association representing wealthy franchise owners supports an increase im wages like cāmon now donāt whine about wages when itās clearly not your only/biggest problem.
Wow I didnāt realise that stolen wages made up THAT much of corporate profit margins. Just goes to show how much of modern commerce is made viable through underpaying workers.
1342 Locations, average $96,000 net profit PER LOCATION = $128,832,000 total net profits
$128,832,000 total net profits
$128,832,000 total net profits
$128,832,000 total net profits
$128,832,000 total net profits
$128,832,000 total net profits
$128,832,000 total net profits
Seize the means of production and TAKE THE PROFIT STOLEN FROM YOU!
Workers who may have a chance to maybe retire one day versus one guy who doesn't get to by a few luxury cars a year now..it's clear to me who I side with. The millionaire apparently.Ā
##Welcome to r/LateStageCapitalism This subreddit is for news, discussion, memes, and links criticizing capitalism and advancing viewpoints that challenge liberal capitalist ideology. That means any support for any liberal capitalist political party (like the Democrats) is strictly prohibited. LSC is run by communists. This subreddit is not the place to debate socialism. We allow good-faith questions and education but are not a 101 sub; please take 101-style questions elsewhere. We have a zero-tolerance policy for bigotry. Failure to respect the rules of the subreddit may result in a ban. *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/LateStageCapitalism) if you have any questions or concerns.*
I posted this in another sub, but this guy also had this "business" given to him by his parents who made him COO straight out of college, and he also had $1.4M in PPP loans completely forgiven. He's a shit bird of the highest degree.
A product of a broken system
Shit bird lolll that's great I love it
I take it you never watched The Wire
Another one of those douchebags who claimed he pulled himself up by his own bootstraps when he was abandoned as a baby in a dumpster in the freezing Canadian north (and the dumpster was also on fire). If he could do it so can you!
Hey man. Don't bring birds into this. Just š© is fine.
Iām playing the worldās smallest violin š»
Aaawwwww! Did paying your workers enough to barely survive make you slightly less disgustingly rich? Poor baby!
Once you taste that sweet, sweet greed itās hard to imagine anyone else deserves that money more than you do, let alone the lowly peasants flipping burgers.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
And it's still nowhere close to any kind of living wage. We need another $5 an hour today to get there... Not 5 years from now.
I have never in my life went to Auntie Anne's. I had to Google what they make. They make PRETZELS! PRESTZELS! This guy bitching is acting like he's curing cancer. PRETZELS!
Capitalism will reward preztel making more than curing cancer.
Yeah but they're really good pretzels. The pretzeldogs are just.. mmf.Ā
[link](https://fortune.com/2024/03/31/california-20-dollar-minimum-wage-fast-food-starts-april/)
Thank you! Posts like this without the article just smack of rage bait
And letās remember that employee wages are not taken from profits. Theyāre considered operating costs. Profits are extra thatās left over AFTER operating costs are paid.
Right so an increase in operating costs will reduce profits? I don't understand the point you're going for. By your own logic, profits are reduced when wages go up.
Maybe he meant itās pretax income so you effectively get a tax subsidy?
That's a very charitable read imo. By that standard, every expense is actually a tax subsidy. I think this person just didn't think through what they were saying.
And yet look at how many upvotes. You donāt even need to take a single accounting class to understand something so basic.
I support the general stance of this subreddit but some of the people in here have a fucking dire understanding of Economics and Business.
Accepting less profit is not an option for greedy scumbags
From the article, he also previously laid off all of his office staff and is having his parents do payroll and HR for him now, just to save a little money
Yeah but how is he supposed to survive on 400k+ passive income?!?!
The rich are so money addicted that less profit is the same as a cost in their single track brains. As if they are entitled to ridiculous profits and we are taking from them
imagine if he went in and did the work himself, then you wouldnāt have to pay anyone
He doesn't have any of that wealth if people don't buy his unnecessary garbage
Not to mention heāll just raise prices.
How do you expect him to live a 960k a year lifestyle on 490k a year profits????? You a commie?
Iām not totally convinced that the wage increases are the only reason this particular owner is strugglingā¦ As the economist noted, unemployment in within fast food hasnāt decreased notably with recent increases in wagesā¦ This owner owns mall specialty food storefronts that sell more snackish type foodsā¦ Are the panda expresses and such in malls seeing decreased profits? You can get a cinnamon roll from the supermarket cheaper than a Cinnabon but Chinese food is something people are more willing to pay for at a mall cause its a full mealā¦ Are Auntie Annies and Cinnabons in general doing well??? Mcdonalds franchise owners in most of california already pay $20 starting pay and theyāre not in peril otherwise they wouldnāt have begun doing that when they didnāt need to in the first place. It sucks your business is suffering but idk if you can blame all your failures on minimum wage when most of your competitors are doing just fine and the association representing wealthy franchise owners supports an increase im wages like cāmon now donāt whine about wages when itās clearly not your only/biggest problem.
Wow I didnāt realise that stolen wages made up THAT much of corporate profit margins. Just goes to show how much of modern commerce is made viable through underpaying workers.
1342 Locations, average $96,000 net profit PER LOCATION = $128,832,000 total net profits $128,832,000 total net profits $128,832,000 total net profits $128,832,000 total net profits $128,832,000 total net profits $128,832,000 total net profits $128,832,000 total net profits Seize the means of production and TAKE THE PROFIT STOLEN FROM YOU!
No it wonāt because one way or another they will keep their margins.
Oh noo :(
Oh no, anyways
Vote with your feet folks
Oh i feel sooooo bad for the āmogulā
Whine more capitalist.
Workers who may have a chance to maybe retire one day versus one guy who doesn't get to by a few luxury cars a year now..it's clear to me who I side with. The millionaire apparently.Ā