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How hyper-consumers misunderstand industries by assuming their extreme behavior is typical, illustrated through bodybuilders, gamers, and business travelers
TRANSCRIPT
Yep. So for those of you who haven't read your substantial writing on this topic, something that you've covered many times is that the airlines work because there is a lucrative class of business travelers who are not spending their own money. They're spending money from a budget at work, and they are willing to, subjectively speaking, pay richly
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How hyper-consuming outliers subsidize industries like airlines and buffets without realizing others aren't like them
TRANSCRIPT
Yep. So for those of you who haven't read your substantial writing on this topic, Something that you've covered many times is that the airlines work because there is a lucrative class of business travelers who are not spending their own money. They're spending money from a budget at work, and they are willing to, subjectively speaking, pay richly
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Why large modern projects are so expensive: paying market rate for the accountability and alignment that older systems provided for free.
TRANSCRIPT
And this is why. And again, so if you go back to this patronage thing we were talking about earlier, it's like, you know how there is this thing we ask all the time, which is like, why do big projects cost so much money? Right. Why is this like this? The New York City subway was dug for one dollar a mile. Why does it cost a billion dollars now?
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