Stock Market for Cocktails: The Future of Bars?

New software company/mobile app determines the price of drinks, Wall Street-style


No one really likes watching the stock market rise and tumble daily, but there's one frontier that the stock market hasn't tackled — until now. A new software company, called The Drink Exchange, has taken the ups and downs of drink orders at the bar and turned it into its own market. 

The Drink Exchange, founded by Charleston, S.C., entrepreneurs Cole Patterson and Todd Schram, predicts the prices of drinks using an algorithm based on which drinks are the most ordered, and the least ordered. It's a (sort of) simple premise: the more a drink is ordered, the higher the price rises; the fewer drinks, the lower the price. Patrons of the bar can watch prices rise, and fall, on TV screens and ticker screens (and buy drinks accordingly). Imagine the trading floor of the Stock Exchange, only the traders are buying booze instead of stocks. Now, with a mobile app, you can also influence the prices of drinks. 

So far, the software is in 25 bars, but Schram told Wired that the team expects to be in 300 bars by the year's end. (He also shared major tips on how to score cheaper drinks using the system — you're welcome.) By the looks of Austin's Brew Exchange,  the first beer-market based bar, this is one idea that's catching on. 


Be a Part of the Conversation

Have something to say?
Add a comment (or see what others think).

Comments 0
4.857145
Ratings14


Like this story? Get updates by email, facebook and twitter
Get daily food and wine coverage


Latest from The Daily Meal

The Daily Meal Video Network
The Perfect Drink for Summer: Maple Lemonade

Post a comment

Add a Comment

Upload a picture of yourself no larger than 3MB, please see Terms for details
CAPTCHA
Please answer this Captcha to prove you are human
Image CAPTCHA
Enter the characters shown in the image.
CAPTCHA
Please answer this Captcha to prove you are human