Spencer Jakab
speaker
981 appearances
14 recordings
1 series
first heard Jul 2017
last heard Jun 2021
Spencer Jakab’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · The Math Behind Olive Garden's 'Never Ending Pasta Pass' · 19 Aug 2019
podcast
They mail it to him because, you know, he just he created so much goodwill and he's just such a funny guy, I think.
Back in the early 1980s, American Airlines was really in trouble.
And they said, how do we raise a lot of money really quickly?
Like, let's have this deal.
And then they never imagined how enthusiastic people would be.
There were a few people who were sort of super users of this pass, who basically cost them over a million dollars a year in free flights.
You know, they'd fly to Paris for lunch and then come back.
And they bought companion passes and they'd see someone in the airport who was stranded and say, hey, come on, I'll fly.
You know, as long as you fly with me, I'll fly with you to...
wherever you're going.
And so it became too expensive.
And it actually turned into a really bad PR stunt for them because they wound up having private investigators follow some of these guys, alleging that they were misusing it and abusing it.
And Mark Cuban, by the way, was one of the people who bought one of the passes.
Yeah, I saw that.
And so that did not work out too well.
This is not a company that's desperate to raise money.
They have plenty of money.
They don't need to sell 24,000 passes at $100 a pop to raise money.
As a matter of fact, these passes sold out instantly.
You know, if they raise the price to $200 or $300, there are probably people who would pay that much or they could raise a lot more money.
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