Sublime

We are constantly making decisions about whether something is worth our money, or trying to convince others to part with their money.

As Carl Shapiro and Hal Varian note in Information Rules, information is costly to produce but cheap to reproduce.

money is the operating system of our society.

This is not at all mysterious if we realize that engaging with markets requires individuals to compress the economic signal nascent in the n-dimensions of their information, heuristics, judgments, and stakes, and project it onto the single dimension of price, and that markets do not project the aggregates; they aggregate the projections.

build a “firewall” brand at the bottom of the pyramid: a strong, low-priced brand that is produced at a profit, however slim. The purpose of this brand is to deter competitor entry, thereby protecting the enormous profit margins at the top of the pyramid.

in the real world, there is no such thing as an externality.