I'm rachel wood and this is tech talk from new york city.
Today I'm joined by Bob evans, head of economic research at cc taxi.
Welcome Bob.
Thank you rachel. I'm very happy to be here.
Now Bob Since was founded in 2011 cc taxi has been very successful.
But your company has also upset some users with its surge pricing policy.
Can you explain to us what surge pricing is?
Search pricing is when c c raises driver rates when many people need a ride at the same time.
When there is a high demand for rides, the company will increase its prices.
Search pricing is when c c raises driver rates when many people need a ride at the same time.
For example, if there is a concert, the area will be very crowded afterwards.
And when all these people log on to the ccap and call for a ride, driver rates will go up.
This means users will need to pay more money than usual to get a ride.
What will happen if many users call for a ride at the same time?
They will have to pay more money than usual.
If there has been a concert, the area will be very crowded afterwards.
He is the head of economic research at cc taxi.
Your company has also upset some users with its surge pricing policy.
They use the company's APP to call for a ride.
Surge pricing is when c crises drive rates when many people need a ride at the same time.
Now why would cc do this?
The policy has been criticized for taking advantage of users.
It's been said that you are charging people more money when they need rides the most.
Well, I can understand why some people may feel that way.
But they need to think about surge pricing in terms of supply and demand.
He thinks people should think about surge pricing in terms of supply and demand.
They need to think about surge pricing in terms of supply and demand.
What do you mean?
In the case of c c users are on the demand side and drivers are on the supply side.
When there is heavy demand in an area, a greater supply of drivers will be needed there.
Racing driver rates encourages them to travel to that specific area.
It helps to balance supply with increased demand.
Comes on the supply side. In the case of c c drivers users increased demand.
Users are on the demand side and drivers are on the supply side.
By encouraging drivers to travel to crowded areas. The company balance supply with demand.
When there is heavy demand in an area, a greater supply of drivers will be needed there.
I can understand why some people may feel that way.
I can understand why some people may feel that way.
They need to think about surge pricing in terms of supply and demand.
Rising driver rates encourage drivers to travel to areas with heavy demand.
In the case of c c users on the demand side and drivers are on the supply side.
So surge pricing get drivers a financial incentive.
If there is not enough supply to meet demand, users will be waiting longer for a ride.
Right? And when your supply is people, it's especially important to take care of them.
Otherwise, a competitor will eventually take away your supply source and slow your growth rate.
If there's not enough supply to meet demand, it will be hard to find a ride.
Not enough supply to meet demand. Users will be waiting longer for a ride.
So are you saying that users should stop complaining and accept surge pricing?
No, but the perspective of our drivers should be considered
Cc did not invent surge pricing. It's used in many industries.
Its basic economic principles really.
All right, thank you, Bob. Let's take a break ，
Will be back in two minutes.
How many companies use surge pricing?
Surge pricing is used by many companies in many industries.
Surge pricing gives drivers a financial incentive.
Surge pricing is used by many companies in many industries.
Otherwise a competitor will eventually take away your supply Source and slower growth rate.
Surge pricing gives the driver a financial incentive to travel to crowded areas
