Peter Drucker once argued that a small business has its greatest opening to compete with a much larger competitor when the competitor is more concerned with monetizing some aspect of the business rather than innovating and improving what the customer receives.
This opening is now apparent in the video game industry.
Up until the past two or three years, video games offered the greatest entertainment value per hour spent. If you spent $60 on a video game, but played it 2-4 hours per day for three months, you would receive 270 hours of total cumulative value from the game (I use these numbers as an example because the average video game purchase results in approximately 267.4 hours of use).
The entertainment cost per hour for video games has been about $0.22. That is a very effective cost for your entertainment. If you choose to watch a movie, and pay $15, … Read the rest of this article!
Instant Financial has launched a new automatic payday application that lets users collect a portion of their bi-weekly paycheck daily if their employer opts into the plan. This application is targeted at, and used primarily by, the lowest income workers.
Advocates of payday apps argue the following: (1) workers gets to see an instant reward for their efforts, prompting them to work more since the reward of labor is more readily apparent; (2) if the worker has trouble living below their means, instant payment for labor is a better bridge than the short-term loan market; (3) the amount that workers can demand is limited to half of the paycheck, in an effort to reduce the likelihood that workers will reach into their rent funds; and (4) hey, workers are adults that should be permitted the autonomy to make decisions on their own behalf.
The story of the Instant Financial app … Read the rest of this article!
In 2014, the wife of one of my college friends was looking to develop some type of business launch while she was at home nursing and raising their first child together.
She remembered that her grandmother had a family-famous recipe for face-cleansing soap that was passed down between the recipes.
Armed with the soap recipe, she began to create three-packs of the soap bars that she sold online in the usual places.
Because she felt a connection with her grandmother’s insistence on quality, and because she had the free time to do it right, she would discard any misshapen soap and offered a 100% refund guarantee to any customer that desired a refund.
She actually cared about the product she was selling and wanted everything created through this fusion of her own labor and the wisdom of grandmother’s ghost to be associated with high quality.
At … Read the rest of this article!
Inigo Lopez was a Spanish lord who issued decrees signed by the authority “Gratia Dei”, or loosely, “by the Grace of God” as he sought to elevate his own standing to that of the king, Garcia Sanchez III of Navarre. Up until that time, it was uncontested that the king in a Christian monarchy was appointed by God, and then the monarch could appoint subordinates that acted pursuant to the authority by the king. Lopez’ logic was that, if a king were appointed by God and exercising authority that flowed from that, the power of the appointments must also be vested by God as well.
Lopez was a political genius in that he allied himself with the most powerful monks at Spanish monasteries and gave them a distribution of the taxes as a quid pro quo for their agreement that he was acting through a right that came to him … Read the rest of this article!
I agree with the Oxford American panel that declared William Faulkner’s Absalom, Absalom! to be the greatest work in the history of Southern literature. Aside from the brilliance of the story, some of Faulkner’s sentences are so unique and evocative that it can be said that the world of Southern literature would have a gaping hole had he never written. Some of my favorites:
- “She accepted that, not reconciled, accepted. As though there is a breathing point in outrage when you can accept it almost with gratitude since you can say to yourself, ‘Thank God, this is all. At least I now know all of it.”
- “Surely there is something even in the demoniac, which Satan flees, aghast at his own handiwork, and which God looks on in pity…”
- “If happy I can be I will, if suffer I must I can.”
- “When you have hated somebody for forty-three years
… Read the rest of this article!