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Barry Diller also owns Expedia.com
"HOW DOES EXPEDIA MAKE MONEY?
Expedia makes its money in a few different ways. The largest of those ways is through hotel bookings, which the company is mainly known for allowing users to do. A whopping 70% of Expedia’s revenue is generated from hoteliers (people who own or manage hotels). The way that Expedia get’s here in the first place is through a simple supply and demand strategy. Expedia buys up a large number of rooms at a discounted cost and then advertises the bookings through their website as the cheapest you’ll find in the market.
An example would be Expedia pushing for a 7-night all-inclusive trip to a remote island in the Caribbean. Expedia reaches out to a hotel on the island and buys up a block of, say, 100 rooms at a discounted price (because everything is cheaper in bulk). Expedia than buys a large number of plane tickets going to that island, usually at little to no discount. Then Expedia offers the deal to 2 people at a price like $1,700, which is most likely going to be at least marginally cheaper than it would through other sites. People get a good deal and Expedia is able to fill more plane seats and hotel rooms. And Expedia has only paid a part of what they charge the people for the service, meaning they profit from every transaction.
Another way that Expedia makes money is through commission fees. Because Expedia always offers the lowest price (or at least a lower price than the hotel will offer), people will be far more willing to actually take a trip in the first place. So hoteliers are far more inclined to sell rooms to Expedia because some money is better than no money. The commission fees are usually between 20% and 25%.
An example of the way that this works is that if a hotel sells a room (in this example we will use just one room, but in reality, it would be far more) to Expedia for $100 and Expedia gets the room booked, then Expedia will collect that $100 and pay the hotel $75 (if the fee is 25%). They will say that that $25 goes towards customer service, marketing, and various other business functions.
Expedia makes a little on the side through fees. These fees aren’t hidden, but they’re also not in your face. They can get away with this because they don’t charge users a fee to actually book the hotel, or whatever it is that they are booking, in the first place. These fees include:
- Cancellation fees when canceling a booking more than 24 hours after booking
- Fees on some airlines for overweight baggage
- Wi-Fi fees in some hotels
- Off resort excursion fees
- Fees for parking at particular venues
- Meal fees at hotels
- Fees at hotels for things like spas, gyms, and pools.
HOW DOES EXPEDIA GET ITS DATA?
Does Expedia have full-time employees whose sole responsibility is to troll the internet to find hotels that they can buy rooms from, and then contact those hotels and reach an agreement for those rooms? Definitely not. Expedia has a third party sourcing organization that does all that for them. This method is called “Merchant Inventory.” They have local contractors, essentially the ‘boots on the ground’ people that are collecting data about hotels in different areas as well.
I'm thinking that this guy needs to have his business model exposed...
BarryMarshall said:It is about the only thing that the iPhone X has going for it.
MacRumors awaits you!
danvdr said:10,000? Seems like a pretty small number.
I came across this 2018 article about ByteDance's founder;
https://chinamediaproject.org/2018/04/11/tech-shame-in-the-new-era/The CCP at work...
Apology and reflection
Dear friends of Jinri Toutiao:
I earnestly apologise to regulatory authorities, and to our users and colleagues. Since receiving the notice yesterday from regulatory authorities, I have been filled with remorse and guilt, entirely unable to sleep.
Jinri Toutiao will shut down once and for all its “Neihan Duanzi” app and its public accounts. Our product took the wrong path, and content appeared that was incommensurate with socialist core values, that did not properly implement public opinion guidance — and I am personally responsible for the punishments we have received [as a result].
I am responsible because I failed to live up to the guidance and expectations supervisory organs have demanded all along. Over the past few years, the regulatory authorities have provided us with much guidance and assistance, but in our hearts we failed to properly understand and recognise [their demands]. Nor did we properly rectify the situation, which led to the present failure to be responsible to our users.
I am responsible also because I failed to live up to the trust and support placed in me by our users. We prioritised only the expansion of [platform] scale, and we were not timely in strengthening quality and responsibility, overlooking our responsibility to channel users in the uptake of information with positive energy. We were insufficiently attentive, and in our thinking placed insufficient emphasis on our corporate social responsibility, to promote positive energy and to grasp correct guidance of public opinion.
At the same time, I failed my colleagues who invested such boundless enthusiasm and hard work to create this product. For such major problems to emerge with the product, and for service to halt, I bear leadership responsibility.
On March 29, after China Central Television reported problems with our advertisements, I engaged in steady reflection over my previous ways of thinking, reflected upon the company’s current methods, and began an energetic campaign among our staff to raise their consciousness, improve management and streamline processes.
My background is engineering, and my originating idea in starting this business was to create a product that would facilitate interaction and exchange among users worldwide. Over the past few years we have invested more energy and resources in the growth of the company, but we did not take the proper measures to improve supervision of the platform, and we did not adequately do our homework in terms of effectively controlling such things as low-row, violent and harmful content, and fake advertising.
As a start-up company developing rapidly in the wake of the 18th National Congress of the Chinese Communist Party, we profoundly understand that our rapid development was an opportunity afforded us by this great era. I thank this era. I thank the historic opportunity of economic reform and opening; and I thank the support the government has given for the development of the technology industry.
I profoundly reflect on the fact that a deep-level cause of the recent problems in my company is: a weak [understanding and implementation of] the “four consciousnesses” [of Xi Jinping]; deficiencies in education on the socialist core values; and deviation from public opinion guidance. All along, we have placed excessive emphasis on the role of technology, and we have not acknowledged that technology must be led by the socialist core value system, broadcasting positive energy, suiting the demands of the era, and respecting common convention.
We must make a renewed effort to sort out our vision of the future. We say, we want to make global platform for creation and conversation. This demands that we must ensure that the content of “creation” and “conversation” are positive, healthy and beneficial, that they can offer positive energy to the era, and to the people.
We must renew our understanding and enactment of our social responsibility; upright and good, innovative technology, value creation, taking responsibility, cooperation and mutual benefit. I profoundly recognise that the company’s development must stick closely to the era and to the main theme of national development.
Today, supervisory organs, the public and the media have pointed out problems in our company, and this is well-intentioned reminder and an encouragement to us. I and my colleagues will work immediately to bring about change — changing our own thoughts, and changing our methods.
Introducing correct values into technology and products
1.1 Strengthening the work of Party construction, carrying out education among our entire staff on the “four consciousnesses,” socialist core values, [correct] guidance of public opinion, and laws and regulations, truly acting on the company’s social responsibility.
1.2 Strengthening implementation of systems and mechanisms for social responsibility in various business activities, bringing them into the scope of business assessment.
1.3 Further deepening cooperation with authoritative [official Party] media, elevating distribution of authoritative media content, ensuring that authoritative [official Party] media voices are broadcast to strength.
1.4 Strengthening the editor-in-chief responsibility system, comprehensively correcting deficiencies in algorithmic and machine review [of content], steadily strengthening human operations and review, raising the current number of operational review staff from 6,000 to 10,000 persons [carrying out content review].
[Translation omitted here for section on management of online communities]
Finally, I again express my apologies to supervisory organs, and to the friends who care about us.
We ought to do better. We will definitely do better.
We earnestly await help from various parts of society in supervising our rectification. We will not disappoint everyones’ hopes.
Jinri Toutiao founder and CEO Zhang Yiming.
April 11, 2018
waveparticle said:22july2013 said:Xed said:LOL I can't wait to hear the contortions of people ... that hate private US companies from doing any business outside the US, especially in China.
If you want to imagine that I'm motivated by hate, I guess that's your right to be wrong.
Instead, it's all about invading Taiwan, occupying the South China Sea, and the First Island Chain, as if those were exclusive economic zones for the PRC. Moreover, the PRC is more than happy to export its brand of authoritarianism. Fortunately, the West is quite aware of the PRC's broad expansionist plans, and while late to constrain the PRC, the West is strengthening alliances to resist that expansionism, both militarily and economically.
Meanwhile, the PRC has a limited timeframe to do all of this before its heavily senior demographics overwhelms its shrinking working population, all with a birth rate that is too little to maintain the population. It's probable that the PRC won't ever be a rich country, and can expect its population to halve by 2060.
What the West is concerned about is that Xi will launch an invasion of Taiwan by 2025, and will attempt to challenge the West's military supremacy in the Pacific in this decade, but that risk diminishes by 2035.
echosonic said:This is the most overblown BS I have seen in my lifetime. Pure hype. The entirety of the American media should be dissolved for creating this panic.
Corona killed what, less than 100 Americans? Swine Flu killed 23,000 Americans, nothing. Measles? Nothing. H1N1? Nothing. EBOLA? Not a damned thing.
One basketball player gets a cold and the whole country loses its f#$(%(& mind.
Glad I have cash on hand because the market is having the sale of the century, and all its going to cost is the economy, and thousands of jobs.
Shame on all of you lemmings who are playing along.
Please enjoy spending your excessive free time in bars, and concerts with the rest of the doubting dipshits.
Don't forget all of that demand destruction that is going on when you make your investments.
This above a twitter thread from a doctor in an ICU in Washington state, translated for the public by a medical student.
Here is a portion;
● Since 2/28, they’ve seen 21 patients and 11 deaths.
Although disease is expected to be worse in patients who are older with comorbidities, they have also seen young healthy patients critically ill.
● They estimate COVID-19 has been spreading in the United States since January, thus making it challenging to contain now because so many people are infected with either mild/no symptoms.
● In their hospital, the entire intensive care unit (ICU) is being used for patients that are critically ill with COVID-19. Another floor is dedicated to patients with COVID-19 that are stable (their clinical course is not expected to change rapidly so they do not need as high a staff:patient ratio) and end of life care. Half of the progressive care unit (PCU) and emergency room (ER) are also being used for patients that are stable.
● Patients with new respiratory symptoms are being held in the pulmonary clinic as overflow.
● Because COVID-19 is thought to be spread through aerosols, there is higher risk to healthcare providers in procedures that generate aerosols such as intubation (placing a breathing tube), suctioning the airway, or performing a bronchoscopy (looking into the lungs with a camera). For aerosol-generating procedures, it was previously recommended that providers wear a N95 mask (which protects against viruses or bacteria spread through the air) as opposed to a normal surgical mask, which protects against droplets. The CDC is no longer asking providers who were wearing a surgical mask (droplet protection) during aerosol-generating procedures to stay home.
There is much more, but the bottom line is that the medical system is already stretched past the limit.
(the 19th Surgeon General of the United States)
"THREAD: Yesterday, I spoke with doctors from one of the nation’s leading academic hospitals located in a state where #COVID19 cases are increasing quickly. This is what they told me: They've been seeing *many* patients with symptoms concerning for COVID19 who need testing (1/x)"
"But they are unable to get the *vast majority* of them COVID19 testing. Their only resource for testing is the state lab. But the state lab is severely limited in capacity and it will take another few weeks for the hospital lab to implement its own test. (2/x)"
"So the hospital is saving their test requests for only those who are severely ill - such as those with ARDS (Acute Respiratory Distress Syndrome) who have tested negative for other conditions (like influenza). In other words, they are having to ration tests. (3/x)"
DAalseth said:Something I don't understand. The US may be pissed with the company for violating the US law. They have the right to block export to the company, and the import and sale of the companies products into the US. To even lay fines on the company and seize its assets in the US.
But how can they look at criminally charging a Chinese citizen who works for a Chinese company that is doing business in China?
Does this mean that Saudi Arabia could demand my extradition for violating their Apostasy laws?
Could Russia demand my extradition for slandering Putin and his criminal regime?
The US has a beef with the company, but why would they have any jurisdiction for criminal charges?
waveparticle said:The chip shortage will continue under Biden administration. Companies will not manufacture chips in US. They cannot make money. If they try to raise prices they need to double or triple the prices. And this route is not working. Democrats have no concept of capitalism.
Even at that, I am absolutely against allowing continued investment in the PRC simply because much of the high tech from the West is dual use, ie, used in both Civilian and Military production. We certainly shouldn't enhance PLANRF's ability to build even greater numbers of more effective ballistic missiles and warheads, nor allow the PLAAF to build more and better more and better aircraft and air to air missiles.
dewme said:Sound is a physical force, so yeah, this makes sense. I recall a college professor of mine showing me a tiny piezoelectric based cooling device with little flaps that could provide totally quiet cooling in a very confined space. It looked promising. GE eventually patented a piezoelectric cooling jet technique in 2004 and sold it off to a Japanese company. Not sure whether it ever gained widespread application, but the whole notion of using vibration, whether induced by speaker voice coils or piezoelectric crystals, to move air is fully reasonable. As with most technology that involves secondary or opportunistic “harvesting” of energy that would otherwise be ignored or wasted, it all comes down to efficiency and whether the intended benefit is worth the added complexity and cost. Inventions only become innovations if they can be put to practical use for the benefit of mankind. Otherwise, they’re just cool ideas, no pun intended.