(Zero Hedge)—Goldman analysts led by Christine Cho attended the Restaurant Finance & Development Conference (RFDC) in Las Vegas earlier this week. The conference drew restaurant executives and founders, franchisees and multi-unit operators, private-equity investors and lenders, industry consultants, and other stakeholders across the broader restaurant ecosystem.

Cho and her team met with many of these restaurant industry insiders and heard a very alarming and consistent message: the operating environment is deteriorating, especially among lower- and middle-income consumers, pushing brands to use discount campaigns to defend market share.

She said there was also increasing discussion around accelerating AI adoption, with operators betting on hybrid human-AI models to reduce costs and improve service.

Cho’s takeaways from RFDC are extensive and offer new color into the health of the restaurant industry and, by extension, the consumer. ZeroHedge Pro subscribers can find the complete list of takeaways in the usual place.

In this note, we’re focusing on just two of the takeaways. The first is the alarming shift among low- and middle-income consumers who are increasingly giving up on eating out and instead buying groceries and eating at home:

Also noted was the drag on restaurant traffic by non-restaurants, particularly grocery and c-stores. A combination of data and surveys indicate growing evidence that consumers are leaving fast food and fast casual restaurants, replacing the meals with a combination of grocery (Aldi and Trader Joe’s specifically highlighted as taking share), fresh format grocery (for example, the hot food bar at Whole Foods), and c-store food (particularly with breakfast).

The second takeaway that caught our attention is the coming automation tidal wave that’s about to sweep through the restaurant industry:

AMAZING coffee from a Christian company: Promised Grounds tastes incredible, is ethically sourced, and proceeds go to missionary work. Drink faithfully!

For the second year in a row, AI was front and center at the conference, with the focus split between current applications of AI and potential future developments across the restaurant space.

Central to the discussion on current applications of AI was the focus on leveraging the technology to enhance the customer experience. Experts from both the restaurant industry and technology industry believe that it is not a case of robots fully replacing humans, but rather a hybrid approach by which humans leverage AI to drive efficiency gains and redirect their time and effort to other tasks that are more critical to the customer. From the perspective of a restaurant general manager, AI can help inform and expedite critical decisions around labor scheduling, inventory management, and food prep timing, and can also be leveraged to help train the workforce (seen as particularly critical given that it is a high turnover industry). Voice AI in the drive thru was also highlighted as a strong use case, with operators noting that is performing well in their tests.

Given these findings, let’s build on yesterday’s UBS note from analyst Jonathan Pingle, which highlights a tale of two consumer worlds…

And it gets worse.

Financial strains are building among low-income, millennial, and Gen-Z consumers, suggesting the Trump administration will likely push an affordability agenda into hyperdrive (read here) to prevent younger and lower-income voters from drifting toward the new unhinged Democratic Party that has been seized by Marxist DSA-ers, which will be dangling “free stuff” heading into next year’s midterm elections.

Discover the Freedom of True American Healthcare: Why America First is Revolutionizing Protection for Patriots

In a world where government overreach and skyrocketing premiums are squeezing the life out of hardworking Americans, one innovative agency is standing tall for liberty and affordability. Meet America First Healthcare—the private health insurance powerhouse dedicated to putting *you* first.

Founded by entrepreneur Jordan Sarmiento, this isn’t just insurance; it’s a shield for your family’s future, built on the unshakeable belief that private enterprise delivers better results than bureaucratic red tape.

Picture this: Jordan’s own story hits close to home for so many of us. A sudden medical emergency landed him with a staggering $95,000 bill. Under a traditional plan? He’d be buried in debt. But with America First’s patented health insurance, that nightmare shrank to just $500 out-of-pocket. That’s not a fluke—it’s the promise of coverage that works *for you*, from day one.

Breaking Free from the Chains of Conventional Coverage

Let’s face it: The status quo stinks. Marketplace.gov and big-insurance behemoths hit you with sky-high deductibles—thousands you’d have to pay before benefits even kick in—leaving massive holes in your protection. Need a routine mammogram, colonoscopy, or EKG? Good luck without forking over more cash. And don’t get us started on the gaps in dental, vision, or critical illness support when heart attacks, cancer, or kidney failure strike.

America First Healthcare flips the script. As a proud advocate for private solutions over government intervention, they craft custom plans that slash costs by 20% compared to traditional options. We’re talking comprehensive coverage that includes:

Preventative and Wellness Care: Physical exams, screenings, and EKGs covered right away—no waiting games.

Telemedicine Access: Virtual doctor visits anytime, anywhere, for that peace of mind.

Accident and Critical Illness Protection: Real safeguards against life’s curveballs.

Add-On Boosts: Dental, vision, disability, and supplemental plans to plug every leak.

Whether you’re an individual stepping off your parents’ plan, a growing family with kids in tow, or a small business owner tired of employee headaches, their tailored approach fits like a glove. Small businesses? Unlock group benefit rates usually reserved for corporate giants—without the red tape.

And for those in-between moments? Short-term insurance steps in as an ultra-affordable bridge, while life insurance ensures your loved ones are never left vulnerable.

Real Americans, Real Wins

Don’t just take our word for it. Thousands of freedom-loving families have already ditched the old system for America First. “Finally, insurance that aligns with our values and actually saves us money,” shares one client. Another raves, “Our small team got big-business perks without the hassle—it’s a game-changer.” These aren’t scripted lines; they’re the voices of patriots who’ve reclaimed control over their health destiny.

Your Move: Secure Your Shield Today

Why settle for less when you can demand better? America First Healthcare isn’t about profits—it’s about powering the American dream with reliable, value-driven protection. Plans are available year-round, no open-enrollment nonsense.

Ready to uncover the gaps in your current setup and lock in savings? Schedule your FREE healthcare review today at America First Healthcare. In under 15 minutes, their experts will map out options that fit your life, your budget, and your principles.

America First isn’t just healthcare—it’s a declaration of independence. Join the movement. Your family’s freedom starts now.