But despite those margins, it's also an industry with a LOT of unprofitable businesses, unlike any other industry in history. From many people's perspective, if they already earn well, why rock the boat in a high effort high risk way so that the union can negotiate an 8% raise instead of a 4% raise. I don't need the money. And the bad to worst case outcomes could give me serious irreversible buyers remorse.
But what if they could be even better? This is an industry with 75-80% gross margins, quite unlike any other industry in history.