Dynamic Pricing, Explained: AI business model | Uber Surge pricing

If you buy a pint at 3pm on a Tuesday you’ll pay £3 and are probably an alcoholic. Fast forward to 8pm on a Saturday and that same pint in that same pub will cost you £8.

Although I don’t drink alcohol so this doesn’t affect me. But that’s not the point. We don’t just ignore things that don’t affect us. This is known as dynamic pricing or price surging.

On paper, it’s like taking a shit in the woods in the middle of winter - a pain in the ass although ultimately harmless. But in reality, every company and their dog are trying to incorporate it into their business model.

And during a cost of living crisis where households are trying to budget this is causing more headaches than speed eating an ice creme. Let’s look at how it works, when it is appropriate to use and when it really fucking isn’t.

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⏰ Timestamps -

📺 0:00 - Intro - What is dynamic pricing and why are pubs bringing this into their business model?
📺 0:41 - Part 1 - The price is right: Let's talk about price changes.
📺 3:29 - Part 2 - Quakers and the invention of price tags.
📺 4:08 - Part 3 - Big Issues: Stopping the ability to plan and budget for customers.
📺 6:52 - Part 4 - Uber and increasing prices during crisis moments.
📺 8:59 - Part 5 - What can we do about it?

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All elements were created by me, comedian Simon Caine.

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#dynamicpricing   #surgepricing  #uber  

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This is the best for the algorithm... no need to read it (I've been told it's important / helpful)

Simon Caine is an English award-winning comedian, writer, author, podcaster and human based in Edinburgh Scotland. He makes a video a week, released every Sunday.

Over the last decade, he's performed all over the world, from London to NYC to Australia. His most recent show "every room becomes a panic room when you overthink enough" got 5* reviews at the Edinburgh Fringe where he sold out the run.

Previously he opened for Trevor Lock, Ben Miller and Henry Ginsberg as well as gigged on the same bill as people like Terry Alderton, Mark Dolan, Matthew Crosby and Bec Hill.

He's been featured in the Huffington Post “Tweets of the Week” feature several times and had jokes/writing appeared in The Poke and other publications. He hates writing in the third person.