restaurants and tipping

It was interesting to research Danny Meyers. to find that he has so many business ventures and was unable to pay his staff a substantial amount of money was shocking. Being the CEO of union square hospitality group and founding shake shack, I would think that he is in a stable position financially.  To remove tipping and hike up the menu items seems a bit off to me, but its what he feels is necessary. Although, the people that eat at his restaurants are able to afford those prices, I feel its only a matter of time before it makes a few of his establishments close down. As much as New York has a rich environment, it is still declining and has a higher population of low income people.