The Truth About Minimum Wage Increase | Ep 67
"If we are spending this much time on these kinds of things, it would be better spent trying to solve the root cause of this issue." Today, Leila (@LeilaHormozi) talks about the looming minimum wage increase and its potential impact on businesses. She breaks down the arguments for and against the increase, and offers suggestions for how businesses can adapt to the changing landscape.
Welcome to Build where we talk about the lessons I have learned in scaling big businesses, gaining millions in sales, and helping our portfolio companies do the same. Buckle up, because we\u2019re creating an unshakeable business.
Timestamps:
(1:35) - Minimum wage increase raises employee salaries.
(2:25) - Arguments for higher minimum wages: cost of living.
(3:59) - Negative effects: layoffs, investment in technology, skilled workers.
(7:29) - Predicted outcomes: higher prices, technology investment, outsourcing.
(11:20) - Higher minimum wage laws may not have long-term impact.
Follow Leila Hormozi\u2019s Socials:
LinkedIn | Instagram | YouTube | Twitter | Acquisition