Transcription
Dash, very good Indian restaurant in London. If you belong to the loyalty program, we give you a dice. The only time that Dash actually has spare tables is before 6:00 p.m. Monday to Thursday.
If you're a member of the loyalty program, you have this little die that they give you. Every time you pay your bill before 600, Monday to Thursday, you throw the die and if you throw a six, you get your meal for free. Logically to an economist, that's a 16.6% discount.
I'm then on a phone call about 2 years later. So, this was our idea for Dash. It's hugely cultish. And then these guys in Chicago, they don't know we've worked with Dash. and they go, "Oh, you're from London." Every time we go to London, we have to go to the shoe. We go before 6:00 cuz one of my colleagues has got a dice. And we bring a guy along from the London office cuz we think he's got a hot hand.
What was weird about this? Okay, half the people on the call could have bought the [ __ ] restaurant. These people wouldn't have crossed the road for a 16.6% discount. I don't know why more people haven't nicked this because one of the advantages is, right, if there's a 1 in 6 chance of getting a meal for free, you spend more, don't you? Right? Cuz you'd feel a bit of a dick if you skimped on everything and then ended up winning the meal.
And the reason I think these things work so well is because economists look at them and go, "Yeah, 16.6." No consumer looks at that and goes, "It's a 16.6% discount." Maybe a professional poker player or someone would look at it like that. Okay? It's a totally different psychological experience if you pay in a different