Despite a popular maxim, 90% of restaurants do not close in their first year.

Michelin stars don't guarantee financial success

A Michelin star generally increases customer traffic for a restaurant. Still, prestige does not guarantee improved finances. According to a 2017 report, half the European restaurants with more than one star weren’t making a profit. However, losing a star can also be devastating.

Only 28% of Americans think restaurant prices are fair

Seven in 10 Americans dine out at least once a month, but only 28% of diners think menu prices are fair, a 2025 YouGov survey found. That changes only slightly by income, with 44% of higher-income Americans finding the prices fair.

Most people don’t keep their New Year’s resolutions

Studies suggest that only 9% of Americans who make resolutions keep them; 23% quit by the end of the first week of the new year, and 43% quit by the end of January.

Winning a James Beard Award can have mixed effects

Winning the honor doesn't mean a restaurant will be set for the future. Most found that while winning gave an initial bump in the number of reservations, that pattern didn’t necessarily hold for long enough to make a real difference in the numbers.

According to some estimates, roughly 75% of venture-backed startups fail, making startups inherently risky ventures.

The US restaurant industry generates over $1T in sales

In 2024, the industry brought in $1.1T, and the National Restaurant Association anticipated reaching $1.5T in 2025, numbers that are considered a return to normal after the tumultuous years of the COVID-19 pandemic. The industry also employs a large workforce, with over 13 million employees. (Some readers may experience a paywall.)

Many shows close without earning a profit

Broadway is a tough market, and a show closing early is relatively common, especially in the winter: Between December 2024 and February 2025, 17 shows closed. It's more than just low ticket sales: Broadway shows face a number of hurdles to success, including stop clauses and bad reviews.

Restaurants are where most of us contract food poisoning in the US. (Paywall may apply.)

Pizza's popularity has waned in the 2020s

The food remains popular, but it has lagged behind the growth of other fast food spots like coffee shops and Mexican restaurants. It ranked sixth in US food sales from restaurant chains in 2024; it was in the second slot throughout the 1990s. (Some readers may experience a paywall.)

Historians believe the first modern restaurant was opened in 1765

A Parisian soup salesman named Boulanger is often credited with opening the first modern restaurant and was renowned for serving meat in poulette sauce.

Inside the first year as a CEO

The CEO role is a complicated one, especially for those who haven't held it before. A recent study found that among CEOs who left their jobs in the first quarter of 2024, 15% held the job for less than 24 months. That's up almost 10% from 2019. This article highlights the challenges CEOs face in their first year on the job, and describes how they can overcome them. Read more here.

Michelin stars aren't permanent

Michelin stars must be maintained year-to-year. Restaurants have lost their stars for a variety of reasons, including chef changes and inconsistent quality.

80% of a VC firm's returns come from 20% of the deals, per VC's 'power law'

Early-stage startups are highly risky investments. Many companies in a VC portfolio will not provide any significant return.

There's no definitive proof that Boulanger, the supposed inventor of the restaurant, ever lived

Legend has it that Boulanger's Paris soup shop was the first modern restaurant, but historian Rebecca Spang found no definitive proof that he ever lived. She did, however, find multiple documents referencing a different 18th-century Parisian, Mathurin Roze de Chantoiseau, as the "creator" of restaurants. (Some readers may experience a paywall.)

The unexpected return of the steakhouse

Although the 2010s and early 2020s saw fewer people eating red meat, the momentum has now swung in the opposite direction, with vegetarian spots closing and hip new restaurants slinging beef. Food writer Bettina Makalintal makes sense of the sudden shift by unpacking the steakhouse's resurgence.

11,000 new US dollar stores opened between 2007 and 2017

Dollar store retailers experienced significant fiscal gains during the 2010s, which were then accelerated by the COVID-19 pandemic. But in recent years, dollar stores have been closing in large numbers and suffering financial hardship. Experts point to Walmart's strategy of decreasing prices to cater to inflation-fatigued customers, and point out that when Walmart does well financially, dollar stores typically suffer.

Soda is one of the most overpriced items at restaurants

All restaurant food is marked up—that's how they turn profits, after all—but soda is one of the most egregious. Fountain soda is remarkably cheap, with restaurants often paying a few cents for each glass before selling it for a few dollars. Food publication The Takeout estimates that the typical markup is around 1,000%.

Americans spend an average of nearly $500 per year on tipping at restaurants and bars

The habit runs contrary to economic rationality: Why pay more for a good or service you have already received when it isn’t mandatory? Researchers found that people tip, in part, to avoid the psychological pain of not fitting in.

Just because a big name company is going public doesn’t guarantee a successful stock

A reporter dove into how highly anticipated IPOs can still be risky, and why retail investors should be wary of investing right away.

What it means to be an opening act

Most people assume opening for a major act will propel a smaller artist's career. While that can be the case, this academic study from a Drexel University professor offers some objective data that suggests mixed results. In short, there's no guarantee that an opening slot on a big tour will enhance an artist's popularity—or their income.

Startup accelerators that include more training activities, such as pitch competitions, tend to have better long-term success rates

That's according to a new study from Wharton. Y-Combinator, perhaps the most famous startup accelerator, currently has 16 alumni companies trading on the public market. But not every entrepreneur who joins a startup accelerator makes it big.

Retail investing by the numbers

When average Americans began pouring into the stock market, Wall Street wasn’t sure if its new guests were there to stay. But at the end of 2023, Public confidently declared that retail investors “weren’t going anywhere” after 30 million new individuals began buying and selling stock. Download the report to learn more here.

Nearly 9 in 10 Americans were annoyed by tipping as of 2025

That’s a sharp increase from the 75% who thought tipping culture had gone too far in 2024. One potential culprit? The proliferation of tipping screens in places outside sit-down restaurants, such as coffee shops and hair salon. Three in 10 Americans say they give less when presented with tipping screens.

Lombardi's was the first documented pizza restaurant in the US

The New York establishment opened in the early 1900s and was a cornerstone of Manhattan's SoHo. At one point, it was open 23 hours a day, allowing laborers of the predominantly Italian-American community to stop by for pies before or after work.

Many startup founders pull out-of-the-box stunts to get their businesses off the ground

Do you know Airbnb’s founders used cereal (yes, as in the breakfast food) to secure their initial round of funding? Or that PayPal’s founders once gave out free money to get people to sign up for the platform? These stories might be crazy, but they’re not uncommon.

More than 650 companies went public in the US in 1996

As the dot-com bubble reached its peak, most dot-com companies went public with little proof of being profitable and were often overvalued. In 1999, the Nasdaq's price-to-earnings ratio (a tool used to determine a stock's value that divides its price by earnings) hit 90.2, signaling that many companies were operating at a net loss. Startups promised investors that more time and money would help scale their businesses and become profitable.

Only 3% of workers 18 and older had a 25+ year tenure at their current job as of 2024

Surprisingly, this statistic hasn't changed significantly between 1996 and 2024, despite news about job hopping becoming more common in recent years.

Y Combinator has a roughly 1% acceptance rate

That’s lower than the most elite universities and colleges in the world—but insiders have some tips about how applicants can have the best shot of being accepted to the selective startup accelerator.

30% of Americans make New Year's resolutions

The practice is more popular among younger people: In a Pew Research Center study, nearly half of people under 30 reported making at least one resolution. The majority of Americans (of all ages) who didn’t make resolutions said they simply don’t like the tradition.

Temu was losing an average of $30 per order as of 2024

Some business experts have made the argument that Temu is more focused on rapidly gaining market share and growing its customer base than achieving profitability.

Delmonico's was the first American fine-dining restaurant

The steakhouse opened in 1837 in Manhattan, creating what is now considered the first fine-dining restaurant in the United States, introducing gloved waiters, white tablecloths, and an à la carte menu. The establishment also claims it invented a few American staples, including eggs Benedict, which was supposedly named after two loyal customers.

Amazon didn't have a profitable quarter until 2001, more than 6 years into its existence

Jeff Bezos, however, took pride in Amazon's early unprofitability, reinvesting the money Amazon made back into its business, prioritizing investment into long-term growth and customer acquisition over short-term gains.

12th-century Chinese restaurants followed a rating system

Like a predecessor to today's Michelin stars, restaurants advertised their offerings and skill level based on the number of flags flown outside: a simple, one-dish diner had one; a sit-down restaurant with a proper menu had at least two; three flags was not used for superstitious reasons; four meant the chef had mastered a culinary style; five meant patrons could expect dishes from every region of China.

Domino's Pizza's 30-minute guarantee was discontinued after a string of delivery-driver accidents.

The chain's promotional gimmick offered customers free or reduced pizzas if their pizzas weren't delivered in 30 minutes or less. That policy led to the chain's popularity, but it also led to reckless driving: In the late '80s, the National Safe Workplace claimed its drivers had the same death rate as miners. After Domino's was found liable in 1993 for nearly $79M in damages, it discontinued the policy.

The oldest restaurants in the US

This list features several establishments that have been around since before the Declaration of Independence, including the White Horse Tavern, in Newport, Rhode Island, and New York's Fraunces Tavern, where George Washington dismissed his troops at the end of the Revolutionary War.

Shake Shack began as a hot dog cart in Madison Square Park

The high-growth restaurant chain is one of the industry's biggest success stories. With chef Danny Meyer at the helm, the restaurant arose out of chance amid an effort to rehabilitate New York's Madison Park. Learn more of the restaurant's story here.

In the 1920s, Prohibition helped cement tipping norms in the US

During Prohibition, restaurants lost significant revenue, given that they could no longer legally serve customers high-margin alcohol. As a result, many of these restaurants leaned more heavily on tips to ease the financial pressure of paying employees.