Valuetainment "Newsom Caused This" - California NUKES 18,000 Jobs Over Minimum Wage Increases
Jul 26, 2025
California's new $20 fast food minimum wage law has led to a staggering loss of 18,000 jobs. The discussion highlights how this spike in wages is pushing businesses toward automation, like kiosks. Panelists delve into the broader economic effects, including higher consumer prices and challenges for small businesses. They stress the importance of personal responsibility and a growth mindset for financial success, sharing personal journeys that led to new opportunities. The debate reveals the complex interplay of wage policies and market dynamics.
AI Snips
Chapters
Transcript
Episode notes
California's High Wage Costs Jobs
- California's $20 minimum wage caused a 2.7-3.2% employment decline in fast food, losing around 18,000 jobs.
- Automation and restaurant closures accelerated to avoid high wages, hurting workers and businesses.
Wages Drive Automation Acceleration
- Minimum wage hikes prompt businesses to adopt automation, like kiosks replacing workers.
- Capitalists seek cost efficiency, so higher wages accelerate food service automation and closures.
Wage Hikes Fuel Inflation
- Raising minimum wage leads to inflation as businesses pass costs to consumers.
- Raises cause wage pressure across roles, inflating prices and cutting jobs or hours at small businesses.