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Sam Parr pitches a coffee shop where you flip a coin: heads, free coffee; tails, you pay double. The shop makes $0.40 per cup and sells at $4, so even giving away 30 percent free while doubling the rest on tails turns a huge profit.
Sam Parr pitches a coffee shop where you flip a coin: heads, free coffee; tails, you pay double. The shop makes $0.40 per cup and sells at $4, so even giving away 30 percent free while doubling the rest on tails turns a huge profit.
Double or Nothing Coffee. It's a coffee shop where instead of at the end where it's like, do you want to tip 20%, 30%, whatever, it just says double or nothing. And it's basically you flip a coin and it's either going to be a free coffee or you're gonna pay double for it, and the double goes to the baristas. Why is this a great idea? Have you ever heard the phrase asymmetric upside? Because that's what I'm offering you here. A coffee really only costs a coffee shop like 40 cents or something. Let's say the price of the coffee was $4. If they can get $8 out of every other customer here on this coin flip, that's a lot of extra dollars coming through the till. And worst case scenario, you're just giving up free coffee, it's only cost you $0.40 on the downside. It's a good bet. I think it's going to be like a slot machine. We're going to slightly skew it. So it's double or nothing, but I didn't say it's 50/50. It's actually going to be more like a 70/30 chance of you paying double. Whatever the legal limits are for slots, we're going to go all the way to that. And it's a place for people who like caffeine, but also like to take their chances.
