Serious Eats: Talk
Is "Food" the next "Bubble"?
During the day,I make my living as a stock-broker/financial advisor for one the big Wall Street firms. It's my job to identify bubbles before they burst to protect my clients. In the early 2000's we had the Dot Com bubble burst,in late 2007 it was Real Estate....you all know how it ended.
Food has all the characteristics of a bubble.It has emotional and cognitive biases. And,just like each time such a phenomenon appears, pundits try to find a rationale, so as not to be against the crowd.
Anytime I see a trend with this much hype,noise, and emotional opinions,I say......"It looks like a bubble,smells like a bubble,and tastes like a bubble" (pun intended).
"Food" came out of nowhere about 10 years ago. Something tells me it's peaking and it may blow up in our faces...(i.e. There will be too many blogs,websites,restaurants,specialized food stores,and food options to choose from).
Usually,trends like these don't end well and I just can't imagine all these Steakhouses and Fancy Pants burger joints in NYC staying open long enough to compete with the new place down the block.
Do you think "Food" is just a "Bubble" (which will eventually burst)?
Please begin your post with "Bubble" or "Not a Bubble". (please do your best to answer the question correctly. Don't post unless you've picked one side as it's not fair to many of us to read a post that begins with "Both" or "Not Sure".