Today at a Glance:
Quote: Enthusiasm is better than IQ
Reading:
Thoughts: Choice is overwhelming
Podcast: Costco
Tweet: Bring back OG internet sites, today's are boring
Product: Linear & iPhone
#QUOTE
“Being enthusiastic is worth 25 IQ points.” – Kevin Kelly
Enthusiasm is a kind of energy that makes everything possible. The kind of aura that serves as a catalyst that lights up room full of people, that turns static knowledge into dynamic solutions, and that transforms everything around you.
#READING
//bitsaboutmoney
The article delves into the U.S. debt collection ecosystem, exposing how specialized firms buy consumer debts at a fraction of their value and employ aggressive tactics to maximize recoveries. It highlights systemic issues like flawed incentives, minimal information transfer, and high employee turnover that perpetuate the problems. The piece argues that the state of the industry is not the result of individual bad actors but of complex, interconnected structural factors.
#THOUGHTS
The Asymmetry of Choice
In a world brimming with options, less can sometimes be more. The paralysis of choice often makes us less satisfied with our decisions. This is why companies like Apple and premium Japanese brands succeed—they curate the best experience for you, removing the need to sift through endless options. By providing meticulously designed products, they're not just selling you an item but gifting you time and peace of mind.
#WATCHING
//youtube
Tesla released a video of its Optimus robot completing tasks, trained entirely by a neural network.
//ethz
#PODCASTS
The Complete History & Strategy of Costco
//acquired
This is one of the best podcasts I've listened to, and of course, it’s on Costco. Some of my favorite fun facts:
Costco is geared toward wealthy individuals on average
Costco sells through their inventory before they have to pay for it
The original "Costco" is actually called "Price Club" -- and there is even more history behind that
The Costco hot dog + soda combo (which costs $1.50) started because there were street vendors that started selling them and they decided to make it an official thing
Costco employees in partnerships follow commodity prices to get members the best deal (e.g. cacao prices for chocolate)
Tipping Culture: Navigating Guilt, Tipflation, and New Norms
//shityoudon'tlearninschool
Tipping sucks, to be honest. When I was in Japan, I loved how everything was included in the price and you didn't have to worry about thinking about tipping. After COVID, it felt like you needed to tip for everything.
This podcast goes into the history of tipping and into the new norms.
I hope one day we can rid ourselves of tipping. We need one less thing to think about.
#TWEET
OG internet websites were so creative
https://twitter.com/0xdesigner/status/1695961440749076653?s=12&t=UQ0RvUWLe6Br9a9hZQJm3Q
Tax tips that anyone can use
You can rent your home for up to 14 days per year without having to pay any tax on rental income.
Having a business can lead to many deductions
If you own a business and have children under 18, you can pay them $13,850 tax-free — plus deduct it from your taxable income.
Switch to an S-Corp as a business -- your CPA will thank you
https://twitter.com/fluentinfinance/status/1695964957039378859
#PRODUCT
I just heard about Linear this month and it’s basically Jira, but better. They effectively are tackling software development rather than general IT and starting downmarket. Rather than trying to do everything, Linear is focusing on what matters and it has found a lot of love.
This cycle just repeats itself over and over:
Market leader product becomes overly complicated (sales requests, bloated product)
A new product emerges and applies a better user experience
Starts down market (startups) and focuses on specific jobs to be done
New product grows and becomes the market leader
An important game-changer is that the market leader generally focuses on the buyer, whereas the new product generally focuses on the user.
Some examples:
Microsoft Office -> Google Docs -> Notion
Blackberry -> iPhone
Yahoo -> Google
AOL -> Skype -> Discord/Whatsapp
I think that Slack might be one of the companies to be disrupted next.
iPhone's Dynamic Island
I just bought the new iPhone 15 and I am surprised how amazing the Dynamic Island is -- it’s truly Apple. The integration of hardware and software is what Apple is known for and they make it truly a unique experience.
Apple basically took an annoyance and turned it into something magical. Some of my favorite experiences with it:
Integration with Face ID
Timers
Connected or Charging
It is so simple, yet pure genius.