Personal Finance by Jonathan Rocha

I’m just gonna leave this here 😵‍💫

Scarcity is a corner stone problem of economics. Investopedia states that it is, “when the means to fulfill ends are limited and costly.”

Time is scarce.
Money is scarce.

In reference to money, that’s why Bitcoin is considered to be scarce.

Bitcoin is scarce because there is limited supply. Once they are “minded” digitally, that’s it. The circulating supply is finite and can’t be increased.

In reference to time, it’s easier to understand. You can NEVER get back time. Once it is gone, it’s gone! It’s limited and finite for everyone in the world.

To learn more, click the link below!

Scarcity: What It Means in Economics Scarcity refers to the most basic economic problem: the gap between limited—that is, scarce—resources and theoretically limitless wants.

Six Flags is currently seeing a decrease in park attendance. A 22% decrease to be exact when comparing Q2 2022 to Q1 2021.

According to the CEO, he stated that "It was a cheap day care center for teenagers during breaks and the summers..”

So the plan is to now reposition themselves in the market and attract a broader audience.

If we take a strategic point of view and use Porters Four Generic strategies it appears that they have used a COST FOCUS strategy and want to transition the company using a COST LEADERSHIP strategy in order to maintain their competitive advantage and reposition themselves in our ever changing market.

Below are links to learn about Porters Strategy’s and the article from WFAA on Six Flags!

Porters Strategy’s - https://www.econposts.com/business-management/generic-strategies/

WFAA Six Flag Article - https://www.wfaa.com/article/money/business/six-flags-ceo-says-parks-cheap-daycare-center-teenagers-falling-attendance/287-d7e32540-ecdf-4840-a5f0-939ca9e2331e?fbclid=IwAR2VxOBXZwJqF7bmXxHWGb7BwZrjJHpgg-MT-4cn2I6fu094AntMaMNoNf8&fs=e&s=cl

Six Flags CEO says parks have become 'cheap day care center for teenagers,' company looking to attract more 'affluent' customers During a Q2 earnings call, the company said it saw a 22% decrease in attendance compared to this time last year.