"Beware the old man in a profession where men usually die young". Oft said about knights in the medieval era, this could equally be applied to those in the restaurant industry, which is characterised by fast changes in fashion, brutal competition and zero barriers to entry. We should therefore listen when a grandmaster of the culinary scene, in this case Jeremy King, dispenses his wisdom.
And there are some gems in "Without Reservation". A particular highlight was King showing his thought process on dealing with customer theft of branded ashtrays from Le Caprice, which he estimated cost the restaurant £25k a year, not small beer in the industry. King inverts it (Munger would be proud) to think of it as marketing expense as all those little ashtrays would sit on mantlepieces or garden tables and remind customers to go back (he also notes the psychological impact of potential guilt on the decision process).
But aside from the hard-won knowledge on restaurants, where the book surprises is in its simple advice offered on life. As an example, King notes "Unless you are genuinely unsure, always make your ‘nos’ quick ones, because the seemingly kind ‘That’s an interesting idea–let me think about it’ only leads to false hope and agonising delays in telling the truth". There is much like this and more, all of it written in an easy and unpretentious manner.
In all, there is much to be learned from reading "Without Reservation", whether you are an aspiring restaurateur, an investor trying to evaluate what constitutes an edge in restaurants, or merely a frequent customer wanting to learn how to ingratiate yourself with the staff to get your preferred table.