Danielle Vermeer

These resale sites have low-to-zero marginal costs because they don’t have standard product COGS, physical distribution, and transaction costs. For example, Poshmark enables the connection between millions of sellers and buyers. The seller manages inventory, photography, pricing, marketing, packaging, and fulfillment. By making it easy to sell,... See more

Web3 is an extension of cryptocurrency, using blockchain in new ways to new ends. A blockchain can store the number of tokens in a wallet, the terms of a self-executing contract, or the code for a decentralized app (dApp). Not all blockchains work the same way, but in general, coins are used as incentives for miners to process transactions. 

Eschewing an overt materialism, the rich are investing significantly more in education, retirement and health. Education accounts for almost 6% of top 1% household expenditures, compared with just over 1% of middle-income spending. Inconspicuous consumption confers social mobility.

Signaling and counter-signaling are hidden methods of communicating with each other. We do it all the time as a way to “prove” we are who and what we claim to be.

If a detective came to your house to look through your things, what would they learn about you?