Humans are risk adverse by nature. It probably comes from the days when we risked being chased down by a sabertooth tiger whenever we ventured outside of our caves. Entire industries and product lines are built around this fact: insurance, hedge funds, home alarms, and many more. If you’re in one of these businesses, you […]
If this short conversation hasn’t happened already, it will happen soon: Mary: I like your new dress. Margaret: Thanks. Want to rent it? Average people today are empowered to rent the shirt off their backs – or in my example, the dress. They’re calling it the sharing economy, but that’s really a misnomer. Sharing is […]
A friend of mine likes to watch the gold mining shows on cable television. He recently noted how the miners are lucky to break even each year, but the guys who lease heavy equipment and sell replacement parts are making out like bandits. That story is as old as the California Gold Rush, which played […]