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The Modern Concierge
- Concierges remain relevant by catering to individuals who value time and avoid anxiety from decision-making.
- They excel in matching individual needs and preferences, especially for complex tasks like planning elaborate trips.
OpenTable's Two-Sided Market
- OpenTable, a restaurant reservation service, faced the challenge of convincing restaurants to sign up and pay.
- Restaurants benefitted through marketing and filling last-minute seats, making it valuable for both diners and restaurants.
OpenTable's Solution to No-Shows
- OpenTable addresses the problem of no-shows by implementing a loyalty program and sending reminder emails.
- They also track no-shows and ban repeat offenders, a function they can perform better than individual restaurants.