Second Update: Hugh has given us unlimited invites (thanks Hugh!) and a process for making this easy. I’ll have this done asap.
Most likely you are painfully aware of how bizarre and seemingly inscrutable the pricing schemes are for airline travel. One day you might get a fare from SF to Boston for $400, the next it’s $335, and the day after that it’s $500. Why? Well, airlines have shitloads of data about historical pricing; they understand the supply and demand curves for every market, and they know when they need to sell more seats, boost margins, or compete to win business. They take advantage of all that data to push a price at you that suits them, and they’re very, very good at leveraging algorithms to drive maximum revenue. It’s frustrating as hell to use an online service like Expedia to try to beat the airlines at their own game – it simply isn’t the right interface. Not to mention, Expedia’s real customers are the travel companies – not you.
I got a chance to talk to Farecast founder Hugh Crean earlier last week, right before I penned this missive on not being able to do reviews. And in fact, this is not a review of Farecast, as much as I wish I had time for that. However, Hugh did spend a few minutes showing me around the site, and I found what it does really interesting, though for different reasons that perhaps others might.
You can sign up for the private beta on the homepage, it’ll be out later in the year. The basic premise is neat – Farecast pays attention to the market price of all airline fares out of particular cities (it only does Boston and Seattle for now) at all times (it uses an industry data feed that, unfortunately, does not include Southwest). It then uses this data to help forecast when the right time might be for you to buy your ticket (and get the best price). In short, it’s a rip off detector for flights. Farecast leverages the power of data to put you back in charge, or at least more in charge.
What Farecast does is shift the power of information back into the consumer’s hands, and that’s why I like it. I remember when the web was young and the first car buying sites were up and running. Dealers scrambled for that early business, and I bought two cars off the web by forcing dealers in the Bay Area to compete for my business. It really felt like the web was going to change the dynamic of who was in charge in a car buying transaction – because I could force dealers to their best price, I was always going to get the best price. It felt like this would be the model in most large transactions, like travel, loans, etc. Price would stabilize, and folks would differentiate on service, relationship, and approach.
But something funny happened on our way to internet mediated bliss: the big companies figured out how to game our demand. Dealers realized they can make more profit if they cooperate and withhold pricing information from the aggregators, and the aggregators got into bed with the supply side of the equation (if you think AutoByTel or Expedia is on your side, you’re kidding yourself). Nowhere is this more true that in how an airline prices its tickets.
I like how Farecast puts the consumer back in control of the data. The interface is very slick and the idea is quite promising. So I very much wish Farecast well, and I’d love to hear about other services which disrupt other markets where access to data is so one sided.
Hugh has given me 25 invitations to the private beta, if you’re interested, let me know in comments below.
Update: Hugh has emailed me and upped my invite limit to 150. But give me some time to get them out to you….
Thanks for the interesting article. If you have any invites left, I would appreciate an invitation too! Thanks!
I make travel arrangements for a company based in Seattle — this would be incredibly useful to me. Please send me an invitation, if you have one available.
May I have an invite too, please?
Thanks!
Could I get one please….? 🙂
Can I get an invite too, please.
I’d like an invite if you have any left, please.
Can I get an invite please? Thanks.
Can I get an invite too please. Thanks.
Can I get an invite please? Thanks!
Here’s another to add to the long list of invite requests… Much appreciated, if there are any left… Thanks for tipping us off to the new site!
Can I get an invite please? Thanks!
would love the beta test
interested in an invite for beta version. thanks!
beta tests are cool. add me if you can!
Thanks for the opportunity to beta test this farecast.com. It is a great concept!
I’d like an invite to the beta test.
This is an idea whose time has come!
Can I get an invite please? Thanks!
If you have anymore invites left I would be delighted to beta test.
Thanks!
I’d love an invite if there are any left. Thanks!
any invites left? thanks
Me too, please!
me three.. 🙂
Invite pls 🙂
I would love an invite! Thanks
I would love an invite as well. Thanks!
Could I please have an invite? Thank you!
I would also love an invite! Thanks.
I’m living in Boston, so I could use an invite too. Thanks !
Is this the best way to request an invite? If so, I would really like one! Thank you!
I’d also like an invite. Thank you!
I could use an invite. Thank you.
an invite would be fantastic! i flyout of seattle.
i’d love an invite if still some available. thanks
I’d love an ivite, too.
I would love an invite. Thanks.
I too would appreciate an invite. Thanks.
An invite would be great. More cities are needed by far.
This would be wonderful. I am trying to fly four people down to Florida and the rates are insane. Please send a beta invite! Thanks! 🙂
Farecast is in public beta now, so no need for invites.
And, having used it since the limited beta period, it is great, except I’ve been finding really great fares on there (and the dire prediction of the fares going up up up) and been totally unable to match those prices when I go try to buy the flight on the carrier’s web site. For example, a United flight which comes up at $259 on Farecast goes for $390 on United’s web site. Unless these discrepancies are addressed, it’s not such a useful tool.
I’d love an invite…thanks!!
I’d appreciate an invite to FareCast. Many thanks!!
gimme, gimme, gimme … if i’m within the 150 …. please!
Invite please!
i would love an invite if they’re still any floating around. gracias!
I would really appreciate an invite…
send me farecast beta
I would love an invite!!
Regular flier — please, any invites left?
I would love an invite!!
I’d like an invite please! 🙂