The insight is spectacular. The foresight is amorphous brick in a scene and trying to predict the future. There is so much which tips the dominoes of the future that people get calcified to prevent their dominoes from falling. It is the way it is. Calculating the hit that drops dominoes is trade secrets.
I've bought a car with a MasterCard, the dealership hated me though. it's definitely not the preferred or an ideal way to make such a large purchase though
I believe you got North and South Dakota mixed up. In 1980 the South Dakota government and CitiBank were both hit bad by a recession, so they came together and changed the laws. Changing the laws so that they could mail out credit cards across the USA and charge any interest rate. And thus a large portion of Sioux Falls population came to the state to run the credit card operations. And once some Credit Card Bankers retired in the 2000's they donated much of the money made into the SiouxFalls non-profit medical systems. Including the largest single sum to a medical non-profit ever. But everyone locally finds a lot of that 30 year period before Dod Frank capped the interest rate ickky, and don't like to think about the donations. And not all of the people actually bought general public good will with their donations, but the donations seemed to grant some political power that ruffled feathers.
en.wikipedia.org/wiki/Dee_Hock 1:19:13 the governance design is like when forming a DAO it needs a design 1:20:37 The fact they could convince Bank of America themselves to give up ownership in exchange to a equal membership, it's amazing 1:21:10 "no sides chains allowed", lol 1:22:04 what a big multi-lateral negotiation, it's amazing 1:25:10 they are able to convince DoJ and Federal Government, it's amazing conversation. What a time of age! just like NFL 1:28:30 what an amazing way of communication, by giving a gift of appreciation!
31:50 unsecured lending
32:50 consumer credit
46:45 open vs closed loop
1:43:50 tech company
1:51:20 authorization / tech
1:59:40 settlement / tech
2:29:14 unit economics
2:33:10 operating leverage
2:35:45 five sided network
2:39:40 resistance to change
2:59:34 party incentives
3:02:00 duopoly moats
3:15:14 value capture
3:19:00 e-commerce enabler
3:20:10 bear thesis
3:25:40 apple pay
👍👍👍👍👍thanks
Thank you legend🤌
Thank you legend🤌
After listening to this entire episode. I am absolutely shocked you guys are giving this away for free.
Ads. They make money off ads.
please make a video on Renaissance Technology
Upvoteupvoteupvote
No
Just uploaded!!
The insight is spectacular. The foresight is amorphous brick in a scene and trying to predict the future. There is so much which tips the dominoes of the future that people get calcified to prevent their dominoes from falling. It is the way it is. Calculating the hit that drops dominoes is trade secrets.
It’s going to be a good day. I wake up to the end of a The Fall of Civilizations and now a new episode of Acquired. Turns out I’m a total nerd! Haha
My thoughts exactly I was wondering how many people were in the Venn diagram between those two podcasts lol
@@Ryanrobi and our names are Ryan? Such a specific overlap. 😂
This is gold. I love this.
❤ 1:58:41 love that I can use the transcript and search forms on of the amazing quotes
Great, thanks. 2 points: MA chooses to have lower margin in order to grow a bit faster. Amex is actually doing well with young people.
Can you guys do a podcast on S&P global. Lengthy and fruitful history. I think it would make for a great episode
I've bought a car with a MasterCard, the dealership hated me though. it's definitely not the preferred or an ideal way to make such a large purchase though
Underrated channel
I believe you got North and South Dakota mixed up. In 1980 the South Dakota government and CitiBank were both hit bad by a recession, so they came together and changed the laws. Changing the laws so that they could mail out credit cards across the USA and charge any interest rate. And thus a large portion of Sioux Falls population came to the state to run the credit card operations. And once some Credit Card Bankers retired in the 2000's they donated much of the money made into the SiouxFalls non-profit medical systems. Including the largest single sum to a medical non-profit ever. But everyone locally finds a lot of that 30 year period before Dod Frank capped the interest rate ickky, and don't like to think about the donations. And not all of the people actually bought general public good will with their donations, but the donations seemed to grant some political power that ruffled feathers.
Both Amex and Discover do work with issuing banks outside their own proprietary networks.
Thanks for another great episode. Any thoughts on if/how blockchain and Defi could disrupt the market?
Seriously amazing! Curious what Dee Hock’s net worth was when he died.
My friend what about smci and acmr do u think I should hold ?
AMAZING!
Stellar.....own a lot
See the book Charge it! by Terry Galanoy.
Why just show visa logo for the video?
How's that investment in Tiny capital going? Seems like a complete evisceration of capital as Andrew Wilkinson sells stock. We are all suckers
Make a video on Meta Platforms
No mention of crypto as a disintermediator?
Do oracle!
First?
Yup
Yup
Fourth!
No
en.wikipedia.org/wiki/Dee_Hock
1:19:13 the governance design is like when forming a DAO it needs a design
1:20:37 The fact they could convince Bank of America themselves to give up ownership in exchange to a equal membership, it's amazing
1:21:10 "no sides chains allowed", lol
1:22:04 what a big multi-lateral negotiation, it's amazing
1:25:10 they are able to convince DoJ and Federal Government, it's amazing conversation. What a time of age! just like NFL
1:28:30 what an amazing way of communication, by giving a gift of appreciation!