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Posts Tagged ‘resource allocation’

Should No-Shows Be Shamed on Twitter?

Restaurants that take reservations risk misallocating resources if a customer doesn’t show up. So is there a good way to place an appropriate cost on no-shows? Philly.com reports on one restaurant owner’s tactic and its drawbacks:

The owner of L.A. restaurant Red  Medicine went to social media to Tweet the full names of no-shows Saturday.

Eater L.A. has an interview with Red Medicine owner Noah Ellis, who said he tweeted the names out of frustration.

“Either restaurants are forced to overbook and make the guests (that actually showed up) wait, or they do what we do, turn away guests for some prime-time slots because they’re booked, and then have empty tables,” he said.

Weighing in on the matter was Consumerist, which posits that the tactic may backfire, as some patrons may balk at making a reservation there, even if they intend to keep it.


Abundance Authors Diamandis and Kotler Answer Your Questions

We recently solicited your questions for Peter Diamandis, founder and CEO of the X Prize Foundation, and journalist Steven Kotler. They are co-authors of the new book Abundance: The Future Is Better Than You Think. Below are their answers about the need for jobs (it’s not what you may suspect), the distribution of wealth, and the technological breakthrough that led the price of aluminum to plummet. Thanks to everyone for participating. 

Q. How did you come up with the book’s cover art? It’s very eye-catching — but not obviously related to the subject matter. –nobody.really

A. The cover is actually directly related to the book’s message. The book is “wrapped” in aluminum foil and the story of aluminum is what opens Abundance. In short, during the early 1800s aluminum was considered the most valuable metal in the world. This is why the capstone to the Washington Monument is made from aluminum, and also why Napoléon III himself threw a banquet for the king of Siam where the honored guests were given aluminum utensils, while the others had to make do with gold.


Moo, Baa, Ka-Ching Ka-Ching

Go and read this profile of the artist/author/songwriter Sandra Boynton. Not only is it nicely written (by Phyllis Korkki — great last name, BTW, with 50 percent Ks) but it is also a fascinating business story about how Boynton juggles and, more importantly, measures such variables as time, enjoyment, money, creative thrill, etc. The article is full of surprises — . . .