Bobby Flay weighs in on food inflation in the restaurant business

Summary

Bobby Flay discusses food inflation and its impact on the restaurant business, explaining that rising costs are squeezing margins and forcing many restaurants to close. He shares his personal investment strategy of buying S&P 500 ETFs since 2008, preferring index investing over stock picking.

• Food at home is up 3% year-over-year, but eating out is even more expensive.
• Restaurants are struggling with thin margins due to rising labor, food, and occupancy costs.
• Many restaurants are closing or barely breaking even.
• Bobby Flay predicts fewer restaurant jobs and fewer restaurants able to stay open.
• He licenses his name to Caesars Palace for high-end and burger concepts.
• Bobby Flay is a long-term S&P 500 ETF investor and has been since 2008.
• He avoids picking individual stocks because he does not feel skilled enough.
• The conversation ends without specific stock picks.