Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
For better or worse, new eateries and the attention they attract have turned the restaurant business into a boom town, restaurateur David Chang told CNBC in a recent interview.
Chang, who owns 23 restaurants around the globe in such cities as New York City, Los Angeles, Sydney and Toronto, recalled a time when it wasn't always this way. He spoke to CNBC from Pyeongchang, South Korea, the site of this year's Winter Olympics.
"I remember trying to find leases and people were like, 'No. We don't want a restaurant in our building. It's going to decrease the value because of problems with smells or whatever,'" Chang said of the first restaurant he tried to open back in 2004 in New York City. "And now, everyone wants a restaurant. Restaurants now are anchor tenants in buildings. That's a joke."
Today, restaurants and food establishments might occupy between 20 and 40 percent of a shopping center. A decade ago it was closer to 10 or 15 percent, according to commercial real estate and investment giant CBRE Group.
Gone are the days when the public embraced a (now largely debunked) myth that the overwhelming majority of new restaurants fail in the first year. "The problem is, there are too many restaurants," Chang said.
"The whole idea that food is hotter than ever before because people just realize that with the younger generation, that's where marketing dollars, real estate dollars, everything is coinciding with how people eat," the Korean-American chef told CNBC
Department stores and other big-box chains, once considered the anchor stores of malls and shopping centers, are closing up at record pace as shopping shifts online. Yet in the last decade, the same locations have become hotbeds for food, as consumers move toward a quest for the experiential.
"In the old days, food courts had indistinguishable food," said Jerry Storch, chief executive officer of Storch Advisors, a retail advisory firm. "Now they have destination restaurants, upscale and fine dining restaurants. People go for the food."
Storch added that "there's been a permanent shift in consumer behavior." He said having a photo of your food on social media is almost better than actually buying it.
The multimedia experience inherent in contemporary dining is one reason why Chang's latest venture is a Netflix docuseries.
The show, 'Ugly Delicious,' is available on Netflix later this month. It follows the chef and founder of Momofuku Group as he travels the world in an attempt to experience delicious — albeit sometimes ugly — cuisines.
Ugly Delicious tries to bring a culture of food to scale, he said. Chang described the docuseries as an honest conversation about what food trends people are talking about right now, amid an over saturation of food options.
"It's a weird time to be a chef, because you have opportunities that weren't presented before," Chang said.
Still, "you can only worry about making the best quality product possible and hope that that's still going to win out, through word of mouth or however," he said.
"You hope someone watches it, just like a recommendation at a great restaurant. You hope someone that eats or watches it, says, 'Hey, you have to watch this. You have to eat this.' That kind of enthusiasm is infectious,"Chang added.