That bank does not cash the daily envelope of checks for free, either. It had a consequential commercial negotiation which took notice of the business’ risk profile, high operational costs associated with their custom, and the near certainty that they would be very annoying to work with. The bank ultimately quoted a price per check and, very likely
... See moreBits about Money • The Business of Check Cashing
Japanese Katsu Curry
reddit.comWe can do a similar reductio ad absurdum for a micropayments-based web. Imagine if everything you do online required you to decide whether to make a tiny payment. Send an email? Pay a few cents. Read one more paragraph of an article? Pay a few cents. And so on. It would be an utter nightmare.
Noah Smith • Web3 had better not be Transaction Cost Hell
sari added
Raisin cookies that look like chocolate chip cookies are the main reason I have trust issues.
sari and added
Well, have you ever eaten Chilean sea bass?* It is the product of a particular sort of alchemy, ‘The Alchemy of Semantics’. The $20 slice of fish that graces plates in high-end restaurants under the name ‘Chilean sea bass’ actually comes from a fish that for many years was known as the Patagonian toothfish. No one is going to pay $20 for a plate of
... See moreRory Sutherland • Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life
‘When you buy something cheap and bad, the best you’re going to feel about it is when you buy it. When you buy something expensive and good, the worst you’re going to feel about it is when you buy it.’