“Haystack provides a solution to a key market failure in popular parking areas: meter prices are too cheap, which results in excess demand.”
A few other market failures, which have resulted in excess demand:
1. Space for your blanket at the park on a cool summer evening.
2. Seats on the bus during rush hour
3. Public housing. So cheap!
4. Walking space on the sidewalk, especially in those busy shopping neighborhoods
5. Snow removal
6. Clean water
This undercharging is ruining my overall User Experience. And frankly, Haystack’s lack of a parking space derivatives function makes me think they’re not serious about extracting capital from parking spaces. And no private traffic police, to enforce the contracts and prevent outsiders from stealing paid places? There is money to be made. Where are my apps?