311–320 of 363 posts
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Except extracting as many dollars as possible isn’t the goal. Many bands try to keep their tickets affordable. The solution is to break up Ticketmaster. The companies they gobbled up handled this fine. Imperfectly, sometimes shoes sold out in minutes, but the prices and the fees were fair, and Will Call can wipe out the scalpers.
How does will call wipe out scalpers? I have never heard that before. I would love to hear the explanation.
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Doesn't this discriminate against fans that would not like to share their personal info. or who don't condone to this kind of tracking?
Everything in the world discriminates against some class of people. Taylor Swift is optimizing for "verified fans" - i.e., people who will actively share how big of fans they are. It's just good business, because she's developing a lifetime customer base. Someone will need to attend the "final tours" she gives when she's 60, 70, 80. Also, Taylor Swift fandom is one of the most mainstream fandoms I can think of - ther…
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It’s really easy in many European countries to prevent identity abuse. In Finland there is a system called “strong authentication” where you log in with your bank. It’s directly tied to your social security number and banks do a very strict job of identifying you in person before you open your accounts. It works and I’ve not heard of anyone gaming this system. It’s used by the banks themselves, the government, tax of…
I don't understands how that system would help, can't you have multiple bank accounts? Except if all the banks transfer some strong common identifier like the social security number (and that sound pretty dangerous to share). Open 5 accounts in 5 different banks (I'm pretty sure you could even do it all at the same bank), and there you go... you will exist, but Ticketmaster would have no idea whether you are 5 differ…
The proposed idea is a technical one that doesn't work for the promoters or artists or venues. The promoters want to know very early whether the venue is the right one for the number attending and whether to upsize, add dates, or even to go the other way to a smaller venue. The time to book a venue is very long... So they need as complete data as they can about sales as early as possible (they would love if 80% of th…
The way to make sure TS tickets go to the biggest TS fans is to remove the influence of ability to pay and sort only by preference intensity.
Solving wealth inequality fixes this problem entirely - among others!
Edit: like all good economists, I leave solving that particular bit of the problem as an exercise to the reader.
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Cuz the auction ran out of tickets so the price starts to climb as scalpers monetize FOMO. Regular purchasers don't know what the scalpers think X is for this particular concert. Even if you knew X, all you could do is try to buy a ticket right before the remaining quantity reaches X which guarantees you paid more than the scalper, but maybe not more than the scalper's resell price. X is the moment scalpers buy up th…
Regular purchasers would learn to not try to game the auction like that any more. In the scenario you described, they are only losing out on tickets because they are getting greedy and trying to buy them for less than they think those tickets are worth. The point of auctions is that the right strategy is to bid to your price, not to try to guess what other people think the price should be. That's why they work.
sure, some artists may want as much money as they can make but surely the majority want their fans to be able to see them affordably? at least, i hope.
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It is not, not if you can build this system on your own. Demanding you be paid for your time to build this demonstrates you aren't convinced it's a profitable idea, which is a huge red flag to potential investors.
I mean, I’m in this exact situation right now and it’s working great. I wrote a short story about an automated farming commune running on open source farming robots. But I can’t afford to spend years of my life working on a problem I’m not getting paid for. Then I met someone who dreams of running automated farming robots at his farm, and now for four years now he has been paying me to develop it. I’ve done entrepren…
You got a job in an industry you like, that's not the same thing as, "I partnered with someone to build my idea."
The proposed idea is a technical one that doesn't work for the promoters or artists or venues. The promoters want to know very early whether the venue is the right one for the number attending and whether to upsize, add dates, or even to go the other way to a smaller venue. The time to book a venue is very long... So they need as complete data as they can about sales as early as possible (they would love if 80% of th…
There is the old trope that McDonalds is primarily a real estate business. In the same line of thinking, you could say Ticketmaster is a "scape goat" business so the artists and venues can get max profit while still coming of as innocent angels. It is now all Ticketmaster's fault. Venues and artists are innocent. This would explain why you can't fix it: where would the scapegoating go? When you have larger demand tha…
Raising prices is a filter on who can buy to reduce demand, but it's not the only way