CNBC's Jim Cramer on Wednesday took a deeper look at Dirty Lemon, the health-conscious drink owned by Iris Nova, to understand how its business model could help keep down inflation: embrace the honor system.
"If this method catches on, it's easy to see how our economy can keep growing with hardly any meaningful wage inflation," the "Mad Money" host said. "Rather than paying their workers more, companies that used to hire plenty are now finding ways to hire fewer people."
Cramer introduced the private company to viewers earlier this week in an interview with Iris Nova CEO Zak Normandin. Instead of hiring cashiers, Dirty Lemon has a store in New York City's Tribeca neighborhood, and will soon open a second in the city's Hudson Yards area, where patrons voluntarily pay more than $10 for lemon-based drinks via text message.
No cashiers? No problem. The company unlocked a way to target millennials and hire fewer people by leveraging digital tools, Cramer said.
"At a certain point, it's just much cheaper for businesses to automate rather than hire new people," he said.
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