The Tablet Can Take Your Order
- Posted by Jeff Carter
- on March 28th, 2013
Obamacare is pushing up the cost to hire new employees, and increases the cost to retain older employees. Higher minimum wage laws also increase the cost. Threat of lawsuits from employees also heightens risk and potentially can put them out of business. What’s a small businessman to do?
Answer, look to entrepreneurs.
Instead of hiring new employees, see if technology can solve the problem. In the 1980’s, bank profits were under pressure and they increasingly turned to ATM machines to distribute money to account holders. They were cheaper than people, and more accurate too. Critics of ATMs say they eliminated jobs.
I think jobs are about to be eliminated again. Small business faces a choice, and it’s going to choose technology.
Dropping costs of technology are creating all sorts of issues all over the place in our economy. Lower costs are one of the reasons for the donut hole in startup financing. Lower costs allow business to replace human labor with software or cheaper hardware.
In 2007, I saw this trend with my own eyes. UICO can make a customizable touch screen and put it anywhere. What’s more, the user of the touch screen can get it wet, or use gloves with it. If you own a small business, especially in the food service industry, give them a ring. They can design a customizable solution just for you.
They engineered a pretty amazing product. Their screen works with gloves, and works when it gets wet. Try that with your iPhone. Yes, UICO creates jobs in the US-they manufacture here.
Someday when you walk into a food establishment, you will touch a UICO screen, and place your order. You won’t talk to a human, You will swipe your credit card or pay with Venmo. A worker that got their job there using Shiftgig will deliver your order. You will walk away just as happy and satisfied as you do today.
It will take less time to get your order-and businesses will be able to allocate resources more efficiently. My guess is the quality of the food you eat will go up because resources that once were allocated to order entry can get allocated to the back of the house for preparation.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
Jeffrey Carter is an angel investor and independent trader. He specializes in turning concepts into profits. He co-founded Hyde Park Angels one of the most active angel groups in the United States in April of 2007. He previously served on the Chicago Mercantile Exchange Board of Directors. He has done market commentary for (More...)