Sushi Journey: Yoshi Tomo in Omaha demonstrates that high-quality sushi can thrive in middle America, with fresh fish flown in from Japan, overcoming economic challenges of the seafood market and transforming sushi from a street food to a gourmet experience.
In Omaha, Nebraska, a restaurant called Yoshi Tomo offers high-quality sushi, showcasing that even middle America can excel in this culinary art. Chef David Utterback ensures that a variety of fresh fish, including specialty options flown in from Japan, are part of the menu. Despite the challenges of quickly losing value in fresh seafood, modern logistics make it possible to enjoy exquisite sushi in Nebraska. Historically, sushi originated as a cheap street food in Japan, similar to a hot dog in the U.S., but it has since transformed into a gourmet dining experience. This evolution reflects both cultural shifts and the growing appreciation for sushi's unique flavors in American dining. Yoshi Tomo not only serves delicious sushi but also highlights the intricate journey of fish from ocean to plate and the efforts to bring this flavorful experience to local diners.
Sushi Evolution: Sushi evolved from a simple dish to a luxurious experience, particularly with bluefin tuna, known as ‘the diamond of the sea.’ Its fishing is risky and requires expertise, reflecting its status in global cuisine.
Sushi, once a simple Japanese food, transformed into a luxury cuisine as Japan's economy grew and foreign interest rose. The bluefin tuna, initially cheap and used in cat food, gained immense value over time and became highly sought after for its rich taste. This led to modern sushi bars opening globally, with bluefin tuna dubbed ‘the diamond of the sea.’ However, fishing for this prized fish requires skill and can be unpredictable, as fishermen face great risks and fluctuating catches due to strict quotas. Catching a bluefin can bring huge rewards, yet it often involves many days of unsuccessful fishing. Today, sushi is popular worldwide, often featuring sustainable but risky tuna sourcing from various locations. The way bluefin tuna is handled can significantly influence the quality of the sushi served, showcasing the blend of art and science in preparing this delicacy.
Fish Auction Dynamics: Fishermen improve fish quality by letting them swim before bringing aboard. Dealers then choose whether to gamble on shipping to Japan where high prices are possible. This illustrates the balance between risk and reward in the seafood market.
Experienced fishermen have a unique method for handling their catch. Instead of bringing the fish aboard immediately, they allow it to swim around the boat to reduce the lactic acid in its blood, ensuring better quality. After catching, the fish is killed, gutted, and packed on ice. The dealer uses a satellite phone to find the best market for the fish, weighing options between shipping it to Japan or selling it locally. Shipping to Japan is risky yet potentially rewarding, as a high-quality bluefin tuna can fetch tens of thousands of dollars at auction. The fish is transported carefully for auction in Tokyo, where wholesalers examine the fish and place bids. This complex journey emphasizes the balance between risk and reward in the seafood market, highlighting the high stakes involved in capturing and selling high-quality fish.
Sushi Supply Chain: Sushi restaurants in the U.S. thrive on a complex distribution network, like Yama Seafood, which supplies thousands of pounds of fish weekly for a market worth $27 billion, with prices influenced by ocean yields and non-standardized products.
Sushi is a hugely popular and profitable business in the United States, generating around $27 billion a year with over 15,000 sushi restaurants. Companies like Yama Seafood, run by Nobu Yamanashi, are crucial to this market, supplying a variety of fish, including tuna and salmon, to many restaurants. Yama distributes thousands of pounds of fish weekly, sourcing from local dealers and international suppliers. Unlike standardized crops, the price and availability of fish can vary, making it challenging for distributors. They rely on long-term deals with brokers to secure their supply as they navigate the unpredictable nature of fish availability based on ocean catches. Overall, the sushi industry thrives not only on consumer demand but also on effective distribution networks like Yama Seafood that can quickly respond to that demand.
Tuna Trade: Buying bluefin tuna involves fluctuating prices based on quality and origin, with inherent risks in grading fish before inspection. Distributors may need to renegotiate prices after revealing fish quality, as top-grade fish (Grade 1) are more sought after for sushi than lower grades.
Buying wild fish, especially bluefin tuna, is like striking a deal where prices fluctuate based on quality, source, and market demand. A tuna’s price can vary dramatically, and top-quality grades (Grade 1) are highly sought after for sushi. However, assessing the true quality before cutting the fish is risky, as fish can sometimes be misclassified. Distributors often have to renegotiate the price with sellers once they inspect the fish, as quality does not always match the grade paid for. Prices can range from $8 to $300 per pound, heavily influenced by factors such as origin and appearance. Grade 2 and 3 tunas are still marketable but are less visually appealing. Ultimately, it’s a complex process that requires negotiating and flexibility due to the inherent risks attached to sourcing seafood.
Tuna Economics: Purchasing tuna involves complexities like damage during handling and varying market values for different cuts. One large tuna can be divided among restaurants based on specific requests, with premium cuts like Toro fetching higher prices.
When purchasing fish, especially bluefin tuna, the buying process is complex. After the fish is caught, it’s often damaged during handling, which can reduce its value. While whole fish might cost $20 per pound, when cut, different parts like Toro may sell for up to $40 per pound. Restaurants have specific requests, leading to variations in pricing and cuts. Ultimately, a single large tuna might be distributed among several restaurants, showcasing how market value varies based on the fish's condition and the specific cuts desired.
Sushi Supply: Delivering fish to sushi restaurants involves intricate logistics, especially in tight urban spaces. Chefs rely on both regional suppliers and specialty vendors, but many restaurants offer similar fish, leading to a standard sushi experience, particularly in non-coastal areas.
Bringing fish from the ocean to sushi restaurants is a complex process. Every day, a fleet of vans and trucks delivers fish around New York City, navigating tight spaces and heavy weights. While chefs bring in specialty fish from different countries, the most sold items at restaurants are often the standard sushi rolls. In cities like New York or Los Angeles, finding quality fish is easier, but chefs in places like Omaha, Nebraska, have fewer options and rely more on regional suppliers. Many sushi restaurants outside coastal areas get their fish from large suppliers like True World Foods, which focuses on economy over variety. As a result, sushi eaters across various cities might end up tasting similar fish, such as the same salmon or tuna, reflecting both the challenges and the supply chain dynamics in the sushi business.
Sushi Economics: Sourcing premium sushi fish is costly, especially with shipping. While high-end prices can’t always be charged, restaurants often balance costs by selling a range of dishes, where expensive fish may subsidize others to stay profitable.
In the sushi business, sourcing high-quality fish comes with significant challenges, especially in terms of cost. For example, premium fish like Ken Madai can range from $12 to $36 per pound, but if ordered from far-away places like Japan, shipping adds another $200 for a 100-pound box. In Omaha, a piece of high-end tuna that could sell for $89 in New York must be sold at a loss because local prices are much lower. Difficult choices arise because fish like the expensive Shibu dye snapper may demand a high price, but customers won't pay enough to cover costs. Sushi restaurants often balance their prices by offering a mix of dishes; special fish may be subsidized by less expensive items on the menu to maintain profitability, highlighting how complicated managing a sushi restaurant's finances can be.
Sushi Economics: Sushi rolls are profit powerhouses, using affordable ingredients while access to high-quality supplies has dramatically improved, allowing chefs to create delightful dishes even in landlocked locations.
Sushi rolls are like the cheeseburgers of sushi restaurants, making a lot of money despite their low cost of ingredients. Chefs often use cheaper ingredients for rolls, like imitation crab or lower-grade fish, and create popular combinations like spicy tuna. This helps manage leftovers effectively. The ability to source high-quality ingredients from around the world in a timely manner is remarkable compared to the difficulties faced by chefs centuries ago. Thanks to modern communication, a chef can easily order unique ingredients from Japan to serve in a restaurant located far away. In many senses, we have access to better food than kings of the past, making sushi not just a dish but a marvel of modern culinary practice.
64. Sushi Fish
Recent Episodes from The Economics of Everyday Things
65. Stock Photos
Making money in the stock image business requires a sharp eye for trends, a very specific type of model, and a race against A.I. Zachary Crockett takes his shot.
- SOURCE:
- Yuri Arcurs, C.E.O. and founder of PeopleImages.
- RESOURCES:
- "The Last Stock Photographers Await Their Fate Under Generative A.I.," by Katie Deighton (The Wall Street Journal, 2024).
- "The Impressive 100-Year History of Stock Photography: From Analog to A.I.," by Ivanna Attié (Stock Photo Secrets, 2024).
- "How Much Can You Make Selling Stock Photos? — It’s Not as Profitable as it Used to Be," by Matic Broz (Photutorial, 2024).
- "Confessions of a Stock Photography Model," by Andrew Kimler (Vox, 2016).
64. Sushi Fish
How does a fresh tuna get from Japan to Nebraska before it goes bad? And how does its journey show up in the price of your spicy tuna rolls? Zachary Crockett gets schooled.
- SOURCES:
- Sasha Issenberg, journalist and author.
- David Utterback, owner of Yoshitomo and Ota sushi restaurants.
- Nobu Yamanashi, president of Yama Seafood.
- RESOURCES:
- "Wild or Farmed? Pacific or Atlantic? Here’s What to Know About Bluefin Tuna," by Jean Trinh (Los Angeles Times, 2023).
- "The Untold Story of Sushi in America," by Daniel Fromson (The New York Times Magazine, 2021).
- "The Intricacies of Tuna Grading," (Luke's Lobster Blog, 2020).
- "Sushinomics: How Bluefin Tuna Became a Million-Dollar Fish," by Svati Kirsten Narula (The Atlantic, 2014).
- The Sushi Economy: Globalization and the Making of a Modern Delicacy, by Sasha Issenberg (2007).
- Yoshitomo.
- EXTRAS:
- "Is the Future of Farming in the Ocean?" by Freakonomics Radio (2021).
63. Botox
Why do millions of people pay to have one of the world’s deadliest toxins injected into their faces? Zachary Crockett looks surprised.
- SOURCES:
- Dana Berkowitz, sociologist and author.
- Jean Carruthers, pioneer of cosmetic Botox, clinical professor of ophthalmology at the University of British Columbia, and owner of Carruthers Cosmetic.
- Steven Williams, president of the American Society of Plastic Surgeons and owner of Tri Valley Plastic Surgery.
- RESOURCES:
- "Botox Is More Affordable Than Ever. Is That A Good Thing?" by Krista Bennett DeMaio (Women's Health, 2024).
- "Early Development History of Botox (onabotulinumtoxinA)," by Alan B. Scott, Dennis Honeychurch, and Mitchell F. Brin (Medicine, 2023).
- "How Barely-There Botox Became the Norm," by Jessica Schiffer (The New York Times, 2021).
- Botox Nation: Changing the Face of America, by Dana Berkowitz (2017).
- "Billions and Billions for Botox," by Vauhini Vara (The New Yorker, 2014).
- "Botox is Destroying Hollywood Acting," by Johann Hari (HuffPost, 2011).
- "The Botox Boom," by David Noonan (Newsweek, 2002).
62. Title Insurance
Almost everyone who buys a home spends thousands of dollars on title insurance. Most of them don’t understand it, and almost none of them use it. So why does it exist? Zachary Crockett closes the deal.
- SOURCES:
- Christy Bieber, personal finance writer.
- Laurie Goodman, institute fellow at the Urban Institute Housing Finance Policy Center.
- Kathy Kwak, chief operating officer of Proper Title.
- RESOURCES:
- "Remarks of President Joe Biden — State of the Union Address As Prepared for Delivery," (The White House Briefing Room, 2024).
- "Fannie Mae Expands Use Of Attorney Opinion Letters (AOLs) As Title Insurance Alternatives," by Christine Stuart (National Mortgage Professional, 2023).
- "U.S. Private Auto Insurers Break Premium, Loss Ratio Records in Q1," by Kris Elaine Figuracion and Tyler Hammel (S&P Global, 2023).
- EXTRA:
- "'Insurance Is Sexy.' Discuss," by Freakonomics Radio (2023).
Truffles (Replay)
It takes fungi-sniffing dogs, back-room deals, and a guy named “The Kingpin” for the world’s most coveted morsel to end up on your plate. Zachary Crockett picks up the scent.
- SOURCES:
- Jason McKinney, co-founder and C.E.O. of Truffle Shuffle.
- Besart Morina, truffle dealer.
- RESOURCES:
- "Dogs Pay the Price in Italian Truffle War," by Margherita Stancati (The Wall Street Journal, 2022).
- "How Truffles Took Root Around the World," by Federico Kukso (Smithsonian Magazine, 2022).
- "Has the American-Grown Truffle Finally Broken Through?" by Rowan Jacobsen (Smithsonian Magazine, 2021).
- "Sonoma County Farm Strikes Black Truffle Gold After 9 Years of Waiting," by Jenn Harris (Los Angeles Times, 2021).
- "In Nicolas Cage’s ‘Pig,’ How Much Is the Truffle Hog Worth Anyway?" by Victoria Petersen (The New York Times, 2021).
- "Predicted Climate Change Will Increase the Truffle Cultivation Potential in Central Europe," by Tomáš Čejka, Miroslav Trnka, Paul J. Krusic, Ulrich Stobbe, Daniel Oliach, Tomáš Václavík, Willy Tegel, and Ulf Büntgen (Nature Scientific Reports, 2020).
- "Inside the Exceptionally Shady World of Truffle Fraud," by Ryan Jacobs (Eater, 2019).
- "Truffle Thieves Face Paramilitary Threat," by Kim Willsher (The Guardian, 2012).
- "The Hidden Life of Truffles," by James M. Trappe and Andrew W. Claridge (Scientific American, 2010).
- "Cultivation of Black Truffle to Promote Reforestation and Land-Usestability," by José Antonio Bonet, Christine R. Fischer, and Carlos Colinas (Agronomy for Sustainable Development, 2006).
61. Pigeons
Once considered noble and heroic, pigeons are now viewed as an urban nuisance — one that costs cities millions of dollars a year. Zachary Crockett tosses some crumbs.
- SOURCES:
- Andrew Blechman, journalist and author.
- David Champagne, owner of Bird Busters, Inc.
- RESOURCES:
- "Racing Pigeon Sells For A Record-Breaking $1.9 Million At Auction," by Carlie Porterfield (Forbes, 2020).
- "Feathers of Honor: U.S. Army Signal Corps Pigeon Service in World War I, 1917–1918," by Frank A. Blazich Jr. (Army History, 2020).
- "Pigeon Wars," by Jon Mooallem (The New York Times, 2006).
- Pigeons: The Fascinating Saga of the World's Most Revered and Reviled Bird, by Andrew Blechman (2004).
- "Pigeons Have Magnets," by Charles Walcott, James L. Gould, and J. L. Kirschvink (Science, 1979).
- "The Pigeon as a Quality-Control Inspector," by Thom Verhave (American Psychologist, 1966).
- EXTRAS:
- "Freakonomics Radio Live: 'Jesus Could Have Been a Pigeon,'" by Freakonomics Radio (2018).
60. Money Laundering
How do criminals turn their ill-gotten gains into taxable income? And how does law enforcement stop them? Zachary Crockett follows the money.
- SOURCES:
- Patrick McKenzie, fraud prevention expert and strategic advisor at Stripe.
- Kerry Myers, associate professor of instruction at the University of South Florida and former F.B.I. special agent.
- RESOURCES:
- "National Assessments of Money Laundering Risks: Stumbling at the Start," by Joras Ferwerda and Peter Reuter (Risk Analysis, 2024).
- "Hacker 'Washes' $25M in Stolen Crypto Through Magic: The Gathering Card Scheme," by Oliver Dale (Blockonomi, 2023).
- "Money Spending or Money Laundering: The Fine Line between Legal and Illegal Financial Transactions," by Matthew R. Auten (Pace Law Review, 2013).
- "HSBC to Pay $1.9bn in US Money Laundering Penalties" (BBC News, 2012).
- "How a Big US Bank Laundered Billions From Mexico's Murderous Drug Gangs," by Ed Vulliamy (The Guardian, 2011).
- EXTRAS:
- "Why Does One Tiny State Set the Rules for Everyone?" by Freakonomics Radio (2023).
- "Kafkaesque," S3.E9 of Breaking Bad (2010).
59. Restaurant Reservations
Thanks to online booking platforms, the way we make reservations has changed — but a table at a hot restaurant on a Friday night is still a valuable commodity. Zachary Crockett books a four-top for 7 p.m.
- SOURCES:
- Lisa Blount, director of marketing and public relations at Antoine’s Restaurant.
- Adam Iscoe, writer.
- RESOURCES:
- "Why You Can’t Get a Restaurant Reservation," by Adam Iscoe (The New Yorker, 2024).
- "New York Passes Bill to Make the Restaurant Reservation Black Market Illegal," by Emma Orlow (Eater, 2024).
- "When Canceling Your Reservation Costs as Much as Dinner," by T.M. Brown (The New York Times, 2024).
- "65% Of Diners Go Directly To A Restaurant’s Website To Book A Reservation," by Tessa Zuluaga (Toast, 2024).
- "No-Show Diners by the Numbers," by OpenTable (2021).
- "Selling Reservations Democratizes the Dining Experience," by Tyler Cowen (The New York Times, 2015).
- Antoine's Restaurant.
- EXTRAS:
- "Why You Shouldn’t Open a Restaurant," by Freakonomics Radio (2018).
58. Firefighters
There are more firefighters than ever — and fewer fires for them to fight. So the job has changed. Zachary Crockett slides down the pole.
- SOURCES:
- Joshua Hurwitz, lecturer in economics at Tufts University.
- Eric Mackintosh, administrative battalion fire chief for San Mateo Consolidated Fire Department.
- Steve Pegram, retired fire chief and township administrator in Ohio.
- RESOURCES:
- "The Dire Shortage of Volunteer Firefighters in the US," by Sam Becker (BBC, 2024).
- San Mateo Consolidated Fire Department 2023 Annual Report (2024).
- "Essays on the Economics of U.S. Firefighting," by Joshua Hurwitz (Harvard University doctoral dissertation, 2021).
- "Over Last 20 Years, Annual Fires in the US Declined by About 50% While Career Firefighters Increased More Than 50%?" by Mark J. Perry (AEIdeas, 2015).
- EXTRAS:
- "Getting Old, Adventurously," by People I (Mostly) Admire (2024).
Romance Novels (Replay)
How did love stories about vampires, cowboys, and wealthy dukes become the highest-grossing fiction genre in the world? Zachary Crockett gets swept away.
- SOURCES:
- Delaney Diamond, romance novelist.
- Danielle Flores, high school math teacher and avid romance novel reader.
- Brenda Hiatt, romance novelist.
- Diane Moggy, vice president of editorial at Harlequin.
- RESOURCES:
- "Even as Overall Book Sales Are Declining, Romance Novels Are on the Rise," by Elena Burnett, Sarah Handel, and Juana Summers (All Things Considered, 2023).
- "Key Takeaways from the Authors Guild’s 2023 Author Income Survey," press release by the Authors Guild (2023).
- "How Amazon Turned Everyone Into a Romance Writer (and Created an Antitrust Headache)," by Ann Kjellberg (Observer, 2022).
- "Vivian Stephens Helped Turn Romance Writing Into a Billion-Dollar Industry. Then She Got Pushed Out," by Mimi Swartz (Texas Monthly, 2020).
- "A Brief History of the Romance Novel," by Amanda Pagan (New York Public Library Blog, 2019).
- "How Harlequin Became the Most Famous Name in Romance," by Kelly Faircloth (Jezebel, 2015).
- "Fifty Shades of Amish: A Strange Genre of the Romance Novel," by Leah McGrath Goodman (Newsweek, 2015).