The sharing economy is failing for one simple reason – people can’t be trusted Earlier this month an article in the South China Morning Post underscored just how bizarre the world of business has become. A Chinese startup offering to … Continue reading Do not trust big corporations
In China, Designer Goods Delivered to Your Doorstep In China, legions of delivery personnel power the world’s largest e-commerce boom. Known for their careening three-wheeled carts, they terrorize pedestrians and sometimes dump their packages on doorsteps and desks with the … Continue reading Luxury delivery service
Are New York Taxis Such a Bad Investment? I recently attended a private-equity conference where a speaker, a TV pundit, abruptly shifted from offering tidbits from the Trumposphere to random life advice: “You have to ask yourself whether you want to … Continue reading The yellow-cab economics
In Urban China, Cash Is Rapidly Becoming Obsolete There is an audacious economic phenomenon happening in China. It has nothing to do with debt, infrastructure spending or the other major economic topics du jour. It has to do with cash … Continue reading Getting rid of cash
How Often Do Customers Pay Different Prices for the Same Thing? The theory of supply and demand teaches us that consumers will pay the same prices for the same goods in a competitive market. In reality, however, markets are rarely … Continue reading What’s the right price?
The evolutionary element of markets Economists have been accused of “physics envy”, an obsession with constructing precise mathematical models instead of studying the real, messy, world. But a new book suggests that economists have been looking at the wrong science; … Continue reading The adaptive markets hypothesis
How companies should treat their most enthusiastic customers The hero of Nick Hornby’s novel, “High Fidelity”, cannot get enough of vinyl records. By day Rob Fleming runs a record shop where he spends his time sampling the stock and constructing … Continue reading The super-consumers