As Exhibit A, I give you Apple during the reign of Steve Jobs at the top of the Apple reputation economy. That Apple at the time was primarily a reputation economy, and only secondarily a computing hardware market, is clear from the fact that there is a clear hierarchy in its market, with users at the bottom, genius-bar reps one level up, and an invisible secret church in the background with Jobs at the top. Now that he’s gone, the fate of the company depends on the ability of Tim Cook to play St. Peter well.
Category: Life
The True Cost of a Burger
Last year, burger chains grossed about $70 billion in sales. So it’s not a stretch to say that the external costs of burgers may be as high as, or even outweigh, the “benefits” (if indeed there are any other than profits). If those externalities were borne by their producers rather than by consumers and society at large, the industry would be a highly unprofitable, even silly one. It would either cease to exist or be forced to raise its prices significantly.
How A Country Dies
To paraphrase Ernest Hemingway’s response to a bankruptcy question :
How did your country die?
Two ways. Gradually, then suddenly.
No Money, No Time
We tend to assume that pressure makes us more efficient. I work fastest when I’m on deadline. I stretch my grocery budget the most when my funds are running low. But in reality, it’s not that you’re working better when you’re stressed. It’s that the opposite situation, overabundance, often makes us less efficient.
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The poor are under a deadline that never lifts, pressure that can’t be relieved. If I am poor, I work or I churn until decisions like buying lottery tickets begin to seem like attractive alternatives. I lack the time to calculate the odds and think of alternative uses for my money.
Reaching My Autistic Son Through Disney
Then both of them turn to Owen. “You can do it, Owie,” Walt whispers. “I know you can.” Owen looks evenly at his brother and Merlin, and then steps to the anvil and lifts the sword true. Did he understand what Walt was saying? Did he just imitate what he saw his brother do? What the hell difference did it make? Today, in the sunlight, he’s the hero of his imagination.
