The wrong industry to be in...

VivaRevolution said:
If you are younger then 40, the answer is just about everything. The machines are coming.
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pp32296-rage-against-the-machine-ratm-poster.jpg
 
cartizel said:
I used to think corner shops would've died a slow death from about 10 years ago, thanks to Tesco Metro and Sainsbury Local. They seem to have held strong.
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My corner shop is still run by an Indian lady and her family, amazes me they are still open. I'm sure the 80 pence they get from me each week for a loaf of bread isn't enough to keep the lights on.
 
RoryFan said:
My corner shop is still run by an Indian lady and her family, amazes me they are still open. I'm sure the 80 pence they get from me each week for a loaf of bread isn't enough to keep the lights on.
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Old colleague of mine said he sold up cos one of the big chain opened up shop across the road from him.

Unless I'm mistake, at the time, he said his margins were about 13%..

But as you said, I sometimes find it strange that a pint of milk, box of :eek::eek::eek:s, a news paper and a mars bar x 20 is enough to survive for shopkeepers
 
ToxicShocker said:
I dont know if NYC has Uber, but the taxi license is like $300k (I hear). Imagine they now lose 10, then 20 then 50 % of their business to Uber
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Down from more than a million 4 years ago:

A New York City taxi medallion sold for $241,000 last week — less than one-fifth of what the cab-ownership tags were going for just four years ago.

The sale, which was approved by the Taxi and Limousine Commission and went through Friday, represents a low-water mark in the 21st century taxi medallion value, which has been diminishing ever since ride-share app companies, such as Uber and Lyft, entered the scene a few years ago.

In 2013, some medallions sold for more than $1.3 million.

Source
 
Truck drivers are going to be hit hard in the next 5 to 10 years. Self driving semi trucks will replace almost all of those workers. That's going to hit a couple million people hard.
 
ToxicShocker said:
What are some products or services that have or are in the process of failing?

1) Travel agent
2) Taxi driver
3) Alarm clock manufacturer
4) vape shop owner (post new fda rules)
5) TV repair shop.
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Most of these of these things are doing just fine.

People are traveling more than ever. Taxi use is up everywhere. Alarms are more prevalent than ever, just in different pieces of technology. And TV/computer repair is actually on the increase.

What these products and services are doing though is evolving. The companies that evolve with the industry will do just fine. If you want to be a travel agent, you need to either cater to the masses on line or have a niche service. One of my best friends makes nearly $150 K a year arranging high end tours in DC. I lived in Scotland for 10 years and one of my good friends there owns Wilderness Scotland. And he makes a bloody fucking mint.

https://www.wildernessscotland.com/adventure-holidays/

In taxi driving, more taxi drivers are viewing taxi driving as a side job they can do in soft time. In the end this will be more efficient and cheaper for consumers, and will actually employ more drivers, not less. The companies that succeed will be the ones that best adapt.

TV and computer repair businesses are going to boom as technology improves and parts become more interchangeable. The companies that succeed though are going to be the ones that realize the full value of the repair. They will buy they used or damaged product, fix it, and resell it. And they will make money by recycling the parts and pieces they do not use. One of my customers is a company called Akooba and they do just that. They employ 50 people.

Alarms and vaping would be the ones on my list I would avoid. Wake up alarms are just to easily integrated into cell phones. Vaping has not existed that long. And products that have a societal cost that can not be fully integrated into their price will always be under scrutiny.
 
SammyPops said:
TS- what did FDA do to vaping?
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The FDA enacted a new rule: Enacted last August, the rule treats liquid nicotine products, such as e-cigarettes and all of its components (including batteries, software and cotton) as tobacco products. As such, every single product dating back to Feb. 15, 2007 must get pre-market approval, at anywhere from $330,000 to $1 million per application.

Source

So all of the vape shops that create their own mixtures will have to pay $330,00 to $1,000,000 per recipe to sell it.
 
weich said:
Truck drivers are going to be hit hard in the next 5 to 10 years. Self driving semi trucks will replace almost all of those workers. That's going to hit a couple million people hard.
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@ZapatasGuns
What are you going to do?
 
cooks1 said:
Most of these of these things are doing just fine.

People are traveling more than ever. Taxi use is up everywhere. Alarms are more prevalent than ever, just in different pieces of technology. And TV/computer repair is actually on the increase.

What these products and services are doing though is evolving. The companies that evolve with the industry will do just fine. If you want to be a travel agent, you need to either cater to the masses on line or have a niche service. One of my best friends makes nearly $150 K a year arranging high end tours in DC. I lived in Scotland for 10 years and one of my good friends there owns Wilderness Scotland. And he makes a bloody fucking mint.

https://www.wildernessscotland.com/adventure-holidays/

In taxi driving, more taxi drivers are viewing taxi driving as a side job they can do in soft time. In the end this will be more efficient and cheaper for consumers, and will actually employ more drivers, not less. The companies that succeed will be the ones that best adapt.

TV and computer repair businesses are going to boom as technology improves and parts become more interchangeable. The companies that succeed though are going to be the ones that realize the full value of the repair. They will buy they used or damaged product, fix it, and resell it. And they will make money by recycling the parts and pieces they do not use. One of my customers is a company called Akooba and they do just that. They employ 50 people.

Alarms and vaping would be the ones on my list I would avoid. Wake up alarms are just to easily integrated into cell phones. Vaping has not existed that long. And products that have a societal cost that can not be fully integrated into their price will always be under scrutiny.
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With regard to taxi use being up everywhere. That simply isn't true:

Example 1: The L.A. Times reports that in the three years since ridesharing services Uber and Lyft became available in the city, overall trips by conventional taxi have fallen by nearly 30%. Trips dropped from 8.4 million in 2012 to a little over 6 million in 2015.

Source

Example 2: As Uber and Lyft grow in the city, the number of cab rides have plummeted by 23 percent in the first half of the year compared with the same period in 2015, city data shows.

Source

Example 3:
ccording to a report by Morgan Stanley (MS, +0.04%) shared by Recode, there were 11.1 million taxi trips in April, compared with 4.7 million Uber trips. Rival ride-hailing company Lyft provided about 750,000 trips during the month.


Those 11.1 million taxi rides represent a 9% drop from a year earlier, however, as Uber's rose 121%. Taxi drivers gave twice as many rides per week as Uber drivers with 91 vs. 44 respectively, according to the research.

Source

It's factually incorrect to state that taxi rides are up everywhere. Here are three major American cities that have seen big drops in taxi rides due to ride sharing. The second and third sources are from 2016. I would expect more drops from 2016 to 2017, and more from 2017 to 2018.

I love that you put such a positive spin on the impact to taxis. It amounts to cab drivers having to work two jobs to make up for their lost income.

I also disagree that TV and computer repair places are going to thrive. That isn't going to happen, IMO. Computers and TVs are so cheap that replacing a damaged/defective TV or PC is more attractive than repairing it.

You also act like the refurbishment industry, as you put it, "The companies that succeed though are going to be the ones that realize the full value of the repair. They will buy they used or damaged product, fix it, and resell it." is a new idea. It isn't. It's been around forever and it's not going to hit some economic boom in the future. It will remain a niche industry the way it's been.
 
weich said:
The FDA enacted a new rule: Enacted last August, the rule treats liquid nicotine products, such as e-cigarettes and all of its components (including batteries, software and cotton) as tobacco products. As such, every single product dating back to Feb. 15, 2007 must get pre-market approval, at anywhere from $330,000 to $1 million per application.

Source

So all of the vape shops that create their own mixtures will have to pay $330,00 to $1,000,000 per recipe to sell it.
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Really? I was in vegas over the weekend and bought a coffee flavour juice on the strip.
 
Overpressure said:
The republicans will keep it going, it's low hanging political fruit
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I wouldn't solely blame Republicans. The DEA has the ability to downgrade weed as a Schedule 1 controlled substance, but has a vested interest not to do so. A majority of the DEA funding comes from the their forever unending battle against marijuana. It's a colossal waste of money.

So dumb. You're asking a Federal Agency to voluntarily cut it's own throat to appease citizens... It'll never happen. It'll take some extraordinary event to wrest that power away from the DEA, like 50%+ of States voting to legalize it.

Would love to see both Texas and Cali vote to make it 100% legal, recreational and medical. Then watch the States vs Feds showdown.
 
weich said:
The FDA enacted a new rule: Enacted last August, the rule treats liquid nicotine products, such as e-cigarettes and all of its components (including batteries, software and cotton) as tobacco products. As such, every single product dating back to Feb. 15, 2007 must get pre-market approval, at anywhere from $330,000 to $1 million per application.

Source

So all of the vape shops that create their own mixtures will have to pay $330,00 to $1,000,000 per recipe to sell it.
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Seriously, fuck the Federal Government.
 
SammyPops said:
Really? I was in vegas over the weekend and bought a coffee flavour juice on the strip.
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I believe the law has not been enforced yet due to legal challenges. I'm not an expert on that situation though. It's possible these businesses are just ignoring the law and continuing on.
 
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