Dynamic Pricing, Explained: AI business model | Uber Surge pricing
Ғылым және технология
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.
Пікірлер: 37
Thanks for watching. I hope you enjoyed it. If you haven't already please subscribe for more and... Join the subreddit - www.reddit.com/r/TheInternetExplorers/ Maybe become a patron - www.patreon.com/SimonCaine Share this with a friend? Or just comment below for the algorithm. Godspeed.
Besides the content, those "Thanks me, wearing a hat" comments are my favorites in your videos!
I do like the multiple filming locations it really helps your content stand out more.
@simoncaine9515
14 күн бұрын
Thank you! I love doing it tbh. So that means a lot. I'm going to try and put it into upcoming videos 😀
While black cabs increase prices overnight or on public holidays, at least it’s on a very rigid schedule, even if it annoys people going to work early on a Monday morning whose taxi arrives at 0558.
@simoncaine9515
5 күн бұрын
I agree. It's why Uber are investing so much into self driving cars. Get rid of the drivers completely so they don't get complaints
Now both my ears are informed! Nice video
@simoncaine9515
14 күн бұрын
Whew! Thank you. Adobe has been playing up which has slowed down editing. Glad that's sorted 😀 Thanks for watching 😄
As a professor, I'm going to try surge grading. You get your assignment in a week early when I have lots more time to grade? Bam, you get a higher grade. Get it in on the due date with everyone else? You pay the surge penalty of an average grade.
@simoncaine9515
12 күн бұрын
So if I give you in an assignment on the day you set it, I'll be Valedictorian? 😀
Peach 🍑 I came for the hilarious Premiere tutorials (i think the channel had less than a hundred subscribers??) and stayed for the incredible educational and entertaining analysis of modern capitalism problems. And fuck Uber.
@simoncaine9515
13 күн бұрын
That's the vibe here 😀 Thanks for staying with me on this journey. Also, well spotted. And fuck uber 😒
Peach, really made my commute to work at a restaurant chain thats looking into surge pricing (I work in IT for it and our POS cant support a 3rd party algo)
@simoncaine9515
8 күн бұрын
Thank you so much. That really means a lot! Which chain out of interest? (If you don't mind saying... Wendy's?) 😀
@simoncaine9515
8 күн бұрын
And well spotted 🍑🍑🍑
There is no gravity, the world just sucks. “The eye sees only what the mind is prepared to comprehend.” ― Robertson Davies, Tempest-Tost
@simoncaine9515
13 күн бұрын
Preach 🙌
Great content as always. I assume you reuploaded this to fix your voice only playing out of the left channel.
@simoncaine9515
14 күн бұрын
I did! Is the audio working now? I've had issues with Adobe. So hopefully this is now resolved. Also, the real ones, rewatch it and comment , so thank you 🙏
@GrandpaRonin
14 күн бұрын
@@simoncaine9515 Yes, initially your voice was only coming through on the left channel. Now it's playing on both left and right channels.
Peach + finally breaking the 5k barrier!
@simoncaine9515
13 күн бұрын
🍑🍑🍑 And thank you! I'm so happy to have hit the milestone 🙌
Peach!
@simoncaine9515
8 күн бұрын
🍑🍑🍑
what happened to the last video? Copyright?
@simoncaine9515
14 күн бұрын
The audio was off, so I quickly resolved it and reposted. Thankfully neither had a copyright strike 😃
I didn't pause the PEACH video
@simoncaine9515
13 күн бұрын
Show off 🍑🍑🍑
Peach
@simoncaine9515
13 күн бұрын
Well spotted 🍑🍑🍑
Yeah, markets and pricing will always be a game of who has more information and individual consumers are *always* going to lose that battle. The next step of late stage capitalism is supposed to be seizure of the means of production. But what we currently do is demand regulations which just draw everything out and keep the perpetrators in charge. Monopolies and monopsonies are good; let them do their thing. It will eventually be their undoing.
@simoncaine9515
5 күн бұрын
Absolutely agree. Personally I think legislation should be a last resort as I like to believe people and companies will just do the right thing. But we're now at the stage it is needed 😒
🍑Peach!
@simoncaine9515
12 күн бұрын
Well spotted dude 🍑🍑🍑
The editing is extremely bad, the video is almost unwatchable: the things on screen change all the time... Perhaps it's good for the algorithms, but not for content / people.
@simoncaine9515
6 күн бұрын
Sorry you didn't enjoy it - did you make it to the end? Personally I found my editing on this one a little slow. But that's just me. Also, I don't really get much of a boost from the algorithms (most of the views come from my current audience and people who watch me on tiktok and bounce over for more polished videos). Thanks for the feedback though. I'll bare it in mind for the future. Have a lovely day 😀
@simpleprogrammingcodes3834
5 күн бұрын
@@simoncaine9515 Yeah, perhaps it's just your style and your audience got used to it. I find it difficult to watch. But it's just my own preference. For example some channels speak too fast. Some channels with the style I like are Early Music Sources and 3b1b. Unfortunately I have no idea how to make videos the right way so I can't say that something is better or worse, it's just my own preference. One thing I can think of, is to have only one important thing to look at at one particular moment (most of the time). The idea is to not have to jump from corner to corner, like for example in movies, when the scene changes, the most important thing of the next scene is located where the most important thing of the previous scene was. This way the viewer can do some "economy of eye movement".