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Bill Whittle Network

Wendy’s $20 Million Dollar OOPSIE!

Bill Whittle Network

Bill Whittle Network

News

4.9720 Ratings

🗓️ 1 March 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

Here are the facts as we know them: 1. Wendy’s announces ‘flex pricing’ based on high / low volume times.
 2. Your crack Right Angle team heavily criticizes this policy
 3. Wendy’s capitulates and reverses itself on ‘flex pricing.’ Do YOU have a problem with consumer relations? If so, for God’s sake do not call us; we do this once a decade. Join our crack team of elite anti-elitists by becoming a member or making a one-time donation right here: https://billwhittle.com/register/

Transcript

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0:00.0

How much would you pay for this burger?

0:17.6

Now how much would you pay for this burger?

0:20.5

Hey everybody, I'm Steve

0:22.0

Green with Bill Whittle and Scott Ott. This is Right Angle, brought you by the members of

0:25.2

Bill Whittle.com. And gentlemen, Wendy's is going to try an experiment where they change the

0:31.0

prices on their menu depending on the time of day and how busy they are. According to New York Post, they're preparing what they

0:40.2

call an Uber-style surge pricing model where the cost of menu items will fluctuate throughout

0:45.5

the day based on demand, meaning a Dave's burger will cost more during the lunch break or a dinner

0:50.3

rush. The plan is set to be tested in a high-stakes rollout next year.

0:54.9

CEO Kirk Tanner announced the new system on a call with investors, noting that the company

0:59.5

will invest $20 million on high-tech menu boards that will be able to update prices in real

1:04.6

time without incurring additional overhead costs. Bill, Elon Musk saw this story on Twitter and or X, whatever we're

1:16.0

calling it now, and says, seems like a good idea. Costs are fairly constant, but demand varies.

1:21.4

Lower cost meals available off hours make sense to Elon Musk. What say you?

1:27.4

It's the worst idea ever. It's the worst

1:30.3

idea ever. Whether people like it or not, psychology is psychology. So let's just say for the sake

1:36.9

of the argument that the price, that the current, that their upcoming highest price is the current price that they have now.

1:46.0

Okay, it's not a price increase, right?

1:48.0

So let's just say for the sake of the argument that everything is in fact a discount, right?

1:53.0

They're going to, for the sake of the argument, they're not going to raise prices during busy hours,

1:57.0

just for the sake of the argument, that's going to be their price during busy hours, and then they'll lower it as it turns out, you know, based on when things slows down.

2:04.9

Human beings don't function that way. They don't remember the discount. They remember the

...

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