Wednesday, May 19, 2010

Panera is going to learn a dismal lesson about human nature.

The former CEO of Panera Bread Company (formerly St. Louis Bread Company) has opened up a pay-as-you-see-fit branch of the chain of restaurants in one of its more upscale locations. The idea is that, instead of paying for your food and service, you leave a donation that you think covers the value, whether that is $1 or $1000.

They're about to learn a really harsh lesson about human nature. The more upscale the location in the larger cities, the more likely they are to have people making excuses not to pay anything, and they're going to fold. Oh, it'll likely float along for a couple of months from the novelty, but if goods and services are offered with payment optional, people will begin taking the option to pay nothing.

I have great faith in individuals. People, on the other hand, suck.

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