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WotD: Cash grab
A cash grab has to be the worst thing in business.
The only thing that could be worse than a cash grab is a very obvious one.
Quite often, a cash grab is undignified, unethical and dishonest.
Cash grabs occur when someone or some company tries to make a significant amount of money quickly by taking advantage of a situation.
Some people believe that an example of a cash grab would be what’s called ‘surge pricing.’
Ride-sharing apps have faced a lot of criticism for surge pricing.
Surge pricing occurs when there is a sudden increase in the price of something to match a sudden rise in demand for something, such as ride-sharing services or even a drug.
Let’s imagine there’s a sudden downpour right when you rush to a business meeting.
Due to the deluge, there is a sudden increase (surge) in people looking for a ride. The increased demand causes the price of a trip to rise temporarily.
This situation, according to many people, is a cash grab.
The companies are taking advantage of the sudden weather change to quickly make a significant amount of money.
They also say it is a small price to pay for convenience.
When the rain stops, the costs will fall back to normal levels.
Another example of a cash grab is the incident surrounding the drug Daraprim.
This drug was used to treat people with AIDS or AIDS-related problems.
A so-called businessman (I won’t use his name because I don’t want it on my website) purchased the rights to the drug and then increased the price by 56 times.
What I mean is that the cost per pill went from $13.50 US to $750 US very suddenly.
Of course, it’s natural to feel that this is an unnatural, unfair and unethical price increase for a drug that people need and depend on to maintain a certain quality of life.
These are just two examples of why I say a cash grab is the worst thing in business.
Flesch-Kincaid Readability Test
This post is understandable by someone with at least an 8th-grade education (age 13 – 14).
On the Flesch-Kincaid reading-ease test, this post scores 70.
The easier a passage is to read, the higher the score on a scale of 0 – 100.