Utility Eats Value for Breakfast: About Diminishing Marginal Utility
updated 10mo ago
Utility Eats Value for Breakfast: About Diminishing Marginal Utility
- Utility is relatively easy to understand. If you can find the answer to your question on Quora or easily reach an old high school friend whose number you lost on Facebook, those products are providing you utility.
from Status Monkeys - By Packy McCormick - Not Boring by Packy McCormick by Packy McCormick
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Place utility: Make something inaccessible accessible ο Form utility: Make something more valuable by rearranging existing parts ο Time utility: Make something slow go fast ο Possession utility: Remove a middleman
from The Minimalist Entrepreneur: How Great Founders Do More with Less by Sahil Lavingia
- The Microwave Principle. Consumers are on an eternal quest for convenience. If you can build a product that demonstrably saves them time or gives them more convenience, they'll choose your product over a higher-quality competitor almost every time.
from Bob Pittman - Lessons from Building Media Empires – [Founder’s Field Guide, EP.12] by Patrick O'Shaughnessy
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One of the fundamental laws of economics is the law of diminishing marginal utility, which means that acquiring more of any good reduces the marginal utility of each extra unit. Money, which is held not for its own sake, but for the sake of being exchanged with other goods, will have its utility diminish slower than any other good, because it can a
... See morefrom The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammous
- There are only four different types of utility: place utility, form utility, time utility, and possession utility. What can you make easier to understand, faster to get, cheaper to buy, or more accessible to others?
from The Minimalist Entrepreneur: How Great Founders Do More with Less by Sahil Lavingia