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Andre's avatar

Introducing a pricing curve for memberships would bring on lots of second order effects. When money is involved people will inevitably try to game the system. As we see with friend.tech, there will be bots that will instantly snap up keys once they come online. Additionally, allowing speculation will inevitably lead to bubbles where people will lose money and get a bad taste from the experience (see most NFT projects).

Gertrude's selling 60k in memberships with no ability or promise to resell is a nice proof of concept for customer demand. People love their local restaurants and value status when they go there. How to best reward and incentivize these people is an interesting question.

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Frank Chen's avatar

Really interesting thought piece. From the user perspective you can incentivize early adopters, provide a way for loyal users to invest in the growing success of a restaurant, and get insider benefits, but from a restaurant perspective, there's a fair amount of risk to consider.

Restaurants are already riding on thin-margins, the additional overhead of understanding these curves and managing the downside risk of speculation and dumps could be over the heads of most dining entities. When things are going well, they go well until they don't. Perhaps this is a new role in this crazy world (digital revenue mgmt).

Maybe approaching it from the restaurant's north star could inform the outcome better. Does this technology fundamentally allow restaurants to better serve their patrons and fans? Just like how you guys kicked off with Gertrude, we can only know better with experimentation.

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