Join 📚 Hadar's Highlights
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“Naturally, since I myself am a writer, I do not wish the ordinary reader to read no modern books. But if he must read only the new or only the old, I would advise him to read the old. And I would give him this advice precisely because he is an amateur and therefore much less protected than the expert against the dangers of an exclusive contemporary diet. A new book is still on its trial and the amateur is not in a position to judge it. It has to be tested against the great body of Christian thought down the ages, and all its hidden implications (often unsuspected by the author himself) have to be brought to light. Often it cannot be fully understood without the knowledge of a good many other modern books.”
— C.S. Lewis
C.S. Lewis on Reading Old Books
fs.blog
Everyone benefits from each other:
Customers and Banks:
Customers want to have always-available credit
Banks want to provide credit with high fees and interest rates
Customers and Merchants:
Customers want to have a card that works everywhere
Merchants want to be able to accept payments from anyone
Merchants and Banks:
Merchants want to be able to sell on credit while still getting their money immediately
Banks want to collect a fee on every purchase in exchange for managing credit and pooling risk
Visa and Mastercard, the other major credit card network,1 sit in the middle of each of these relationships, across billions of customers, millions of merchants, and thousands of banks, collecting a network fee — on top of the interchange fee paid to banks — on every purchase (about 0.05%). The total revenue collected — $20.6 billion in 2018 — is rather small, particularly relative to Visa’s market cap of $420 billion, but that multiple is a testament to just how durable Visa’s position is in the network it created.
Visa, Plaid, Networks, and Jobs
Ben Thompson
“Raise Prices” This was Marc’s response to “If you could have a billboard anywhere, what would it say?” He’d put it right in the heart of San Francisco, and here’s the reason: “The number-one theme that companies have when they really struggle is they are not charging enough for their product. It has become conventional wisdom in Silicon Valley that the way to succeed is to price your product as low as possible, under the theory that if it’s low-priced, everybody can buy it, and that’s how you get to volume,” he said. “And we just see over and over and over again people failing with that, because they get into a problem called ‘too hungry to eat.’ They don’t charge enough for their product to be able to afford the sales and marketing required to actually get anybody to buy it. Is your product any good if people won’t pay more for it?”
Tools of Titans
Timothy Ferriss
...catch up on these, and many more highlights
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