Mon, 02 Jan 2006

Losing Money Vicariously Through Slate

I have the fantasy of opening up a little cafe, apparently like many other people. Michael Idov has already done it and documented the money-losing venture at Slate.

His cafe, which he opened in Manhattan, was right out of my fantasy, "where coffee was served on silver trays with a glass of water and a little chocolate cookie" — it's actually a little chocolate square in my imagination.

He goes on to describe how he lost money on every croissant sold, and how he and his wife end up working "$8-per-hour jobs slinging coffee" before going bankrupt.

The European cafes that Michael tried to emulate probably don't $4,500/month rents to pay, because I don't think they get the to-go business that makes Starbucks so profitable.

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The state is that great fiction by which everyone tries to live at the expense of everyone else. - Frederic Bastiat