Taxi Firm Sorry For Price Hike During Sydney Siege

[ChillDoubt]

Some fares rose 4 times the usual price:

http://www.bbc.co.uk/news/technology-30595406

That's quite shocking really. Why do companies feel the need to make extortionate profit out of fear and misery?

[jno]

it was done by robots, wasn't it? They automatically adjust price to demand. As soon as humans found out what was happening, they switched it off and took everyone for free.

That's modern life for you; but they seem to have sorted it out fairly quickly and done the right thing.

[BlackadderV]

Classic twist of the phrase, "computer says no."

[IggyB]

Capitalism is king! But as said this is just an automatic pricing programme, more demand equals increase in price.... I thinks that's fine, they shouldn't have to apologise

[ChillDoubt]

Not sure it was done by robots, someone human must have been overseeing what happened because I sincerely doubt that the 'robots' inexplicably realised their actions were wrong and subsequently offered free lifts.

Whatever happened they(Uber) appear to be garnering a lot of unwelcome attention and criticism, which can't really be blamed on robots.

[woofgang]

humans set up this type of automatic program and don't take exceptional circs into account...didn't something similar happen during the first days of auto buying and selling of stock?

[Gromit]

// Its "surge pricing" algorithm increased fares during the peak period as people rushed to leave the area. //

'Algorithm' - Bit of a clue there that it was a computer programme changing the price and not a human.

[jno]

people use Uber because it's cheaper. It's cheaper because they use robots to reduce the number of humans they have to employ. The robots operate according to the law of supply and demand, which people like except when it means prices can go up as well as down. But ultimately they all got free rides.

[Gromit]

From another report...
// Uber’s cab fares surged to four times their usual, making it difficult for citizens to leave the area safely. //

There's a maniac with a gun taking hostages. Would anyone seriously not take a cab out because of the tariff?

[ChillDoubt]

'Algorithm' - Bit of a clue there that it was a computer programme changing the price and not a human.
----------------------
But that's my question i.e. when did the algorithm make the change from 4 times normal price to free rides?
Unless of course someone overrode the system they were administering........

[jno]

yes.

Someone overrode it.

I said this at 23:40. What's the question exactly?

[woofgang]

I am guessing it got overrode a few seconds after a human said "Oh *** the pricing algorithm!"

[woofgang]

asterisked word was ess aitch eye tee

[ChillDoubt]

I'm wondering why it took so long and they only reversed matters when criticism from social media started rolling in.
The administrator or whoever should have reacted far sooner, given that they supposedly react to certain situations.

[Orderlimit]

"Unless of course someone overrode the system they were administering...."

Well I get what you mean. I highly doubt any program manipulation took place in this particular situation as the actual cause (siege) of the supp/dem disequilibrium would shift the imbalance straight away I'd imagine. It appears Uber have been accused of fake S/D manipulation in the past.

[jno]

if they put their prices too high and you don't like it, use someone else. That's the market economy.

[Orderlimit]

Well yeh..., but I don't think thats the issue here !