this post was submitted on 27 Feb 2024
284 points (96.4% liked)
A Boring Dystopia
9535 readers
523 users here now
Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.
Rules (Subject to Change)
--Be a Decent Human Being
--Posting news articles: include the source name and exact title from article in your post title
--Posts must have something to do with the topic
--Zero tolerance for Racism/Sexism/Ableism/etc.
--No NSFW content
--Abide by the rules of lemmy.world
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
LOL, the asshole CEO called it an "enhanced feature".
I'd say go for it, but if Wendy's does it, everyone else will, so the likelihood that it will hurt their business is unlikely.
They're outright accepting less customers in favor of those willing to pay higher prices.
That's great for a quarter, maybe a year, maybe 5. At what point does it catch up and you've trained everyone to stop eating fast food because you wanted to charge more than people can dedicate to food?
This is exactly it. I have seen folks saying we are entering a new kind of economy: a kind of "whale economy". After seeing it work for mobile apps and games, other normal companies are wising up to the fact that your revenue will be the same if you charge 10 times what you were and lose 9/10 of your customers as a result... but your expenses will be lower. less labor, less equipment, less materials, less time. The 1/10 who stay and pay the high prices out themselves as "whales", the people who probably have enough money to never care and will probably just keep spending even if the prices keep going up and up and up.
The majority of us are about to become low value customers... and therefore, not have easy access to common goods and services any longer. This will make perfect short term sense to each company doing this, but will promptly collapse what's left of our economy into ruin.
COVID and recent financial policies changed our economy from "charge what it costs + a reasonable profit margin" to "what's it worth to you?"