The jobs aren't blanket exempt. That's a federal rule. A ton of states don't exempt tipped jobs from minimum wage. In California, for example, where it is the case, the usual minimum wage is $12 or $13, depending on the number of employees, and a dollar less for tipped jobs.

But repeating the pattern, that's a state rule. Different parts of the state don't exempt jobs from minimum wage. (God, I'm glad I'm not a lawyer). In San Francisco, for example, the minimum wage is $15.59, and as far as I can tell, it holds whether you're tipped or not.