Way back in the pre-Cambrian era, I worked at Risk Management magazine on the heels of the Enron and Worldcom scandals. We ran a story about some research that suggested commodity trading, as a profession, was especially attractive to sociopaths. We got a lot hate mail from socoiopathic commodity traders on that one.
Today’s tech bros, really aren’t much different than those Enron-era commodity traders. Their business rewards sociopathy, which is why they can see something like surge pricing for food and think it’s a good idea. What they don’t understand is that among other things, all businesses require a social license to operate. Surge pricing for food isn’t illegal, but it revokes your social license, just like suggesting people eat cereal for breakfast. We shouldn’t be surprised Wendy’s pulled this - the three guys who own the vast majority of the company are essentially bankers cosplaying as restauranteurs. I doubt they could tell you ten of their own menu items off the tops of their heads.
If I understand this correctly a price surge happens when too many people are buying burgers so they will increase the price for that long line? It’s a good way to shorten the line.
Meanwhile, I haven’t eaten any fast food since HS. Too many stomach aches.
And for $12 I could have made you a delish, healthy, satisfying lunch. 🥗
Linkedin is the wildest (mainstream) social media site. The hustle culture grifters and tech bro chuds make facebooks boomers gone wild posters look sane.
1: Wendy's should have known. Maybe some intern tried to warn them but got shouted down by the marketing geniuses that think they know better.
2: Wendy's spicy chicken sandwich was the best. Although the last few times I have had Wendy's, which isn't very often, sometimes you get an actual chicken breast and other times you get what was probably pink slime chicken molded into a patty.
2a: Wendy's probably had the best fast food spicy chicken sandwich until Popeyes came along. Of course the problem with Popeyes is every time I've been, I swear it's like the employees are actively trying to cause the place to go out of business.
Wendy’s was too honest and open with what their intentions are.
Other fast food apps send me promotions at normally non-meal times of the day. Like who’s going to BOGO a quarter pounder which cheese at 2:41pm on a Wednesday?
Nice work today, Michael. I have three specific observations/comments for you:
1. I can foresee a future where there are calls and puts sold on the Wendy's combo price options. I'm afraid the CFTC will necessary have to get involved, especially if futures are also on the table.
2. I wonder how much more business Wendy's is doing because of this. I think it's like a "New Coke" thing, where Coke actually ended up making more money from the "failed" stunt.
I love that the Wendy’s flack pointed out that they didn’t use the term “surge pricing.” “Yeah, I killed this guy, but I take issue with you suggesting that I murdered him.”
I’m WAY behind on all of this as I’ve given up the TODAY show and didn’t see it in the local newspaper. Thank you…THANK YOU for this morning for such a great laugh this rainy morning. Not a Wendy’s in my orbit, THANK goodness!
I spend most of my available neurons thinking about ways AI can be used to manipulate us (for science, of course) Fast Food surge pricing has now made it to that list.
This reminds me of a Seinfeld episode where they're waiting at a Chinese restaurant to be seated, and Elaine, who is starving, says that they shouldn't seat people on a first come first served basis, but based on a "whoever is hungrier" scale.
I can very easily envision Uber food adding a "how hungry are you" scale. Anything to make an extra buck.
4. Michael, other franchises sell baked potatoes, but it’s all in the presentation and preparation. They are marketed as finely chopped “fries.” The one from In N Out really could use a load of sour cream and chives.
Way back in the pre-Cambrian era, I worked at Risk Management magazine on the heels of the Enron and Worldcom scandals. We ran a story about some research that suggested commodity trading, as a profession, was especially attractive to sociopaths. We got a lot hate mail from socoiopathic commodity traders on that one.
Today’s tech bros, really aren’t much different than those Enron-era commodity traders. Their business rewards sociopathy, which is why they can see something like surge pricing for food and think it’s a good idea. What they don’t understand is that among other things, all businesses require a social license to operate. Surge pricing for food isn’t illegal, but it revokes your social license, just like suggesting people eat cereal for breakfast. We shouldn’t be surprised Wendy’s pulled this - the three guys who own the vast majority of the company are essentially bankers cosplaying as restauranteurs. I doubt they could tell you ten of their own menu items off the tops of their heads.
$12+ for a chicken sandwich, drink and fries? I know I haven’t eaten fast food (except Chipotle) in years but that is insane!
If I understand this correctly a price surge happens when too many people are buying burgers so they will increase the price for that long line? It’s a good way to shorten the line.
Meanwhile, I haven’t eaten any fast food since HS. Too many stomach aches.
And for $12 I could have made you a delish, healthy, satisfying lunch. 🥗
Linkedin is the wildest (mainstream) social media site. The hustle culture grifters and tech bro chuds make facebooks boomers gone wild posters look sane.
1: Wendy's should have known. Maybe some intern tried to warn them but got shouted down by the marketing geniuses that think they know better.
2: Wendy's spicy chicken sandwich was the best. Although the last few times I have had Wendy's, which isn't very often, sometimes you get an actual chicken breast and other times you get what was probably pink slime chicken molded into a patty.
2a: Wendy's probably had the best fast food spicy chicken sandwich until Popeyes came along. Of course the problem with Popeyes is every time I've been, I swear it's like the employees are actively trying to cause the place to go out of business.
This brightened up my hangover. Thank you.
Wendy’s was too honest and open with what their intentions are.
Other fast food apps send me promotions at normally non-meal times of the day. Like who’s going to BOGO a quarter pounder which cheese at 2:41pm on a Wednesday?
Nice work today, Michael. I have three specific observations/comments for you:
1. I can foresee a future where there are calls and puts sold on the Wendy's combo price options. I'm afraid the CFTC will necessary have to get involved, especially if futures are also on the table.
2. I wonder how much more business Wendy's is doing because of this. I think it's like a "New Coke" thing, where Coke actually ended up making more money from the "failed" stunt.
3. Mortimer!
I love that the Wendy’s flack pointed out that they didn’t use the term “surge pricing.” “Yeah, I killed this guy, but I take issue with you suggesting that I murdered him.”
I’m WAY behind on all of this as I’ve given up the TODAY show and didn’t see it in the local newspaper. Thank you…THANK YOU for this morning for such a great laugh this rainy morning. Not a Wendy’s in my orbit, THANK goodness!
WTF is a baconator?
I spend most of my available neurons thinking about ways AI can be used to manipulate us (for science, of course) Fast Food surge pricing has now made it to that list.
This reminds me of a Seinfeld episode where they're waiting at a Chinese restaurant to be seated, and Elaine, who is starving, says that they shouldn't seat people on a first come first served basis, but based on a "whoever is hungrier" scale.
I can very easily envision Uber food adding a "how hungry are you" scale. Anything to make an extra buck.
4. Now that marijuana is so much more readily available to the average person, people are getting baked on their own. Who needs potatoes?
I want to know what the heck they mean when they say they’re trying “suggestive selling”? Where could that get misinterpreted? 😂
All this surging and suggestiveness is conjuring a much different picture than a hamburger. 😬😳
Somebody high up in the executive chain at Wendy's probably came up with the idea and nobody had the guts to tell him the idea was dumb.
I haven't ordered at Wendy's for years. None in my neighborhood.
If you started surge pricing for SN, you'd make even less than you do now and wouldn't even be able to buy a meal at Wendy's.
Baconator might be wroth a try. The Nacho Cheeseburger is too much of a mess.
4. Michael, other franchises sell baked potatoes, but it’s all in the presentation and preparation. They are marketed as finely chopped “fries.” The one from In N Out really could use a load of sour cream and chives.
I once worked at a Wendy's, and somehow managed to serve still-frozen fries to someone... ;)