#125

Josh sits down with Matthew Conway and Michael Jacober for a spirited conversation about restaurant pricing, profitability, and what guests are actually paying for when they go out. What starts with a nearly $9 Modelo in New York quickly turns into a much bigger debate about whether bars and restaurants are justified in charging premium prices for simple products, or whether the industry has lost touch with what guests are willing to bear. Along the way, they unpack labor costs, rent, experience, hospitality, and the tension between running a viable business and keeping dining and drinking accessible.

The conversation then expands into broader questions around capitalism, consumer behavior, and where restaurant economics may be heading next. They debate whether lower alcohol consumption is driven by shifting culture or rising prices, whether operators are passing value to their teams or just protecting margins, and what responsibility restaurants have to the guest experience. The episode closes with a side trip into seed oils, animal fats, and the return of tallow, giving the whole discussion a larger throughline: how cost, quality, and perception shape nearly every decision in hospitality.