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Dynamic templates can be a great solution, so long as you're incorporating a variety of dynamic elements, not just swapping out one or two words. I have seen some debate on whether or not to set a meta description, and I think it's really a CRO choice. Google is always going to match a search query with a relevant excerpt from the page when a meta description is not available, so if you trust Google's judgment, it can be fine to go without. I don't think that philosophy is hurting Yelp at all.