sari

So as an AI researcher in a large company, you have more of the luxury of thinking longer-term and building something, whereas in a startup, of course, you need to build something that people want right now. And it needs to be really, really good. And you need to be able to ship it in a reasonable timeframe. That’s the big difference: The vast majo... See more

the internet is the greatest device for opening up the world ever devised. It is democratising and enabling. But that assumes its users draw on it to aid System 2 thinking. Plainly, there are times when we use it to inform key decisions – to find out about an illness, to research a holiday, to track a scientific breakthrough. But in the main the we... See more

In other words, marketplaces are harder to get off the ground, but easier to scale, while e-commerce businesses are easier to get off the ground, but harder to scale.

For the largest banks, interchange was the primary way they monetized consumers who lived paycheck to paycheck. If you live paycheck to paycheck, you have high volatility in your income and expenses and you generally don’t keep a balance in your bank account, so the bank relies on interchange fees to profitably service you.