@[email protected] to A Boring Dystopia • 2 months agoThis was in upliftingnews but imo, they've been overcharging for years and now they're framing this as a feel good storyslrpnk.netimagemessage-square109fedilinkarrow-up1524arrow-down117cross-posted to: orphancrushing
arrow-up1507arrow-down1imageThis was in upliftingnews but imo, they've been overcharging for years and now they're framing this as a feel good storyslrpnk.net@[email protected] to A Boring Dystopia • 2 months agomessage-square109fedilinkcross-posted to: orphancrushing
minus-square@Apepollo11link2•2 months agoFirst up, I want to say that your point is clear, even without this correction, but… That’s not how percentages work. To make things neat, let’s assume they’re now selling things at cost (they’re not, they’ll still be making a profit). A 75% reduction in price like this means that they were previously making 300% profit.
minus-square@cloudwolflink4•2 months agoHe is talking about margin, not markup. 75% margin = 300% markup
minus-square@Apepollo11link3•edit-22 months agofacepalm Yep, you’re completely right. I’ll wind my neck back in now…
First up, I want to say that your point is clear, even without this correction, but…
That’s not how percentages work. To make things neat, let’s assume they’re now selling things at cost (they’re not, they’ll still be making a profit).
A 75% reduction in price like this means that they were previously making 300% profit.
He is talking about margin, not markup. 75% margin = 300% markup
facepalm
Yep, you’re completely right. I’ll wind my neck back in now…