How Bumble Tricks You | How Dating Apps killing Youth ? | Business Case Study Duration

Bumble's evaluation, at present is 14 BILLION DOLLARS But let me tell you Online Dating is a SCAM

Now you all will say

Bro! How is this even possible?

Presently, Dating means Right Swipe OR Left Swipe

Online Dating Apps made dating so easy

In earlier times, you need to put lot of effort to introduce yourself

But now you need to only Right Swipe OR Left Swipe

Someone find partner or not,

but the companies who made this apps make endless  profit.

But now many of you will think about what's wrong with it

at least they help us to change from Single to Mingle.

Well, it's not the case.

The reality of dating apps is something else.

And through this video, you will also know that

how the reality of these apps is hidden from us under our noses.

So the story starts from 2012

when 22-year old Whitney Wolf was working in Hatch Labs

where she met Sean Rad.

They started working together and created a dating app

which we all know as 'TINDER'.

When the company started, Justin Mateen became the Chief Marketing Officer

After some time Justin and Wolf started dating each other.

Then they had a breakup

but Justin starts to sexually harass Wolf.

But when Whitney complains about this to Sean Rad

who was the company's CEO at that time,

Whitney Wolf got fired from the company.

But who knew that this incident would change Tinder's fate

Nobody would have thought

the app which Whitney Wolf made is now the reason for her depression.

After these bad experiences, Whitney Wolf starts to work on her next idea

And this time it's about Women's Safety.

Her idea was to make a social media exclusive for women.

When she was working on it, she met Andrew Andreev.

And he convinces her to convert this app into a dating site.

And from here, Bumble started.

Wolf approaches 2 Tinder employees - Chris Gulczynski and Sarah Mick to make Bumble.

The idea to make Bumble was simple

WHY WOMEN SHOULD FOLLOW RULES?

I know you would be thinking that

how the company which started with good intention can be dangerous?

Well to understand this we need to understand Bumble deeply

In this world, any business is made from one of these 3 concepts

The growth and Profitability of a business depend on what concept it's built.

NO 1 - NEED CONCEPT

In this, the business is made to fulfill any particular market need.

For example, you see any Crypto Trading Platform

When the whole world was trading in crypto,

India had no platform to fulfill this need

NO - 2 LEVERAGE CONCEPT

The sole motive behind this concept is to ease out complex things.

And when any business which fulfills market needs and also provides leverage

then it creates a win-win situation.

For example, people didn't like to read books

in fact today also many people don't like to read it.

And that's why KukuFM provided thousands of books knowledge in audiobooks form

Now people don't get bore and enhance thier knowledge by listening on KukuFM

This small business concept are not taught to us in our schools

That's why The Fastlane Millionaire

But the most interesting businesses are made from this 3rd Concept

The Third Concept is - GRATIFICATION CONCEPT

The work of the businesses under this concept is to make their customers feel good.

But there's a twist you will also feel good when your needs are fulfilled

or when your work gets easier. But this feeling would be for a limited time

But the main work of the businesses under this concept

is to entangle you in this gratification loop as long as possible.

And Bumble is made from this concept.But now the question arises,

HOW DOES BUMBLE DO ALL THESE THINGS?

Bumble is growing at a yearly rate of 70% with 100 Million Active Users it is super profitable.

But nobody knows about the mechanism behind this growth.

So what's the Mechanism? So it's DATA + ELO SYSTEM But how it works?

So when anybody creates profile on Bumble, it collects this data from him.

NO 1 - DATA PREFERENCES

NO 2 - AGE, LOCATION, PERSONAL INFORMATION

NO 3 - YOUR POLITICAL VIEWS

You are apolitical or which party you support, Bumble also collects this information

NO 4 - EDUCATION, WORK PROFILE

I know what you would be thinking But let me tell you Bumble doesn't sell this data

This data is collected so Bumble could match you with the right profile.

But do you know how this matching happens?

And here comes Bumble's ELO SYSTEM

Basically, all profiles on Bumble have a certain ranking.

But how these profiles get rankings?

The ranking of any profile depends on how many people right-swiped it. But there's a catch

In ELO System,

the person who right swipes, his weightage depends on how many people right right-swiped him.

For example, there is a boy named Mayank

A girl right swiped him whose name was Shruti Now see how it works.

Let's assume 50 people right-swiped Shruti.

And when Shruti right swipes Mayank, his profile's ranking will suddenly increase.

Because a profile right-swiped him who already had 50 right swipes.

Whereas if the girl was Riya, whose profile has 2 right swipes

So when she right swipes Mayank, his profile ranking will not increase that much

Because Riya's profile only has 2 right swipes. And like this ELO System works.

After this many would be thinking that Ohh! That's why we don't get matches on Bumble.  

Well, this is not the case. Reality is something else.

And from here only Bumble generates its profit.

So Bumble constantly sells you hope. I Repeat

Bumble constantly sells you hope.

But to sell hope, you need to make a person feel hopeless.

Let's see how Bumble does this.

When you make a Bumble profile and start using it,

you will get 1-2 right swipes. After this, you think - 

"Bro! I am so awesome. Everyone likes me"

As usual this profiles will be hidden.

Your excitement would be at its peak but there are high chances that these accounts will be bot accounts.

Let's see how they sell hope. As soon as you see a like,

to see that profile you will buy Bumble's premium plan. And 70% of people do this.

But what if by chance I don't buy?

So if you don't buy premium plans, it is difficult to get matches.

An algorithm does these things.

So you become helpless to buy a premium plan.

And in case you get matches,

there are 15-20% chances that they are genuine.

But let's assume you purchased a premium plan.

So now LOTTERY!!! 💥 Well NO Interestingly if you buy premium plan,

there are still fewer chances to get a match.

Because now the algorithm places your profile above non-premium users. That's All.

But now the question is

Why people don't leave to use this app and why do people buy premium plans again and again?

The reason is the TENDENCY OF OVERCOMPENSATION.

I know this is sounding complex.

Let me explain is simple words.

According to Behavior Psychology,

Our Environment Shapes our Behavior.

So in olden times, there was no internet or social media.

So people used to do traveling, sports, get-togethers, family time

They performed this activity to gratify themselves. But as the social media raised,

people made a habit of instant gratification.

And due to this habit, everyone wants everything quickly

No one wants to wait. And here is the hidden game of this dating apps

In this generation of instant gratification,

Dating sites give you hope for a fast relationship with convenience.

And when this human behavior of instant gratification combines with a dating site's algorithm

then it makes you helpless to buy its premium subscription Sad but TRUE

Most the dating sites work like this. After all, It's all Business.

But what companies do in the education sector is far more dangerous than this.