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Barry Schwartz found that having this unparalleled plethora of choice in the modern world was actually causing people to be less happy with their decisions. He found that instead of increasing decision satisfaction, having too many options made people less likely to be satisfied that they had made the best decision. While freedom is important, Schw... See more

3. The remote economy has created a talent market for citizens: Walt asserts that because proponents of stateless digital techno-utopias still need to live somewhere, a state ultimately has control over them. But in a competitive marketplace of jurisdictions where somewhere can be anywhere, no single government has as much authority as people think... See more

Munger cites FedEx as one of his favorite examples on the power of incentives:  The heart and soul of the integrity of the system is that all the packages have to be shifted rapidly in one central location each night. And the system has no integrity if the whole shift can’t be done fast. And Federal Express had one hell of a time getting the t... See more

Ultimately, fitness is exercise you pay for. And, in many ways, COVID is serving as a reminder that the best things in life are free.

That doesn’t mean that business models can’t get better, though. They’re simply evolutionary. Banner ads used to be the only game in town for revenue. Then we started seeing the rise of native advertising. It fit more naturally into the experience. Fast forward, we’re now seeing this trend where the ad carries a semblance of brand validation.

As magazines experienced in the 1950s – 2000s, the subscription model allows you to cater to micro-markets because a smaller audience base becomes viable when they are paying directly through subscription instead of indirectly via ad impressions.

What would the world be like if everyone used this technology exactly as I use it?