Some great reads from the internet this week
So the real question is this - why did it take so long for us to build a better solution to an essential economic primitive like payments? And why is it that some parts of the world (even at completely different ends of the development spectrum) are still struggling to get payments right? To go even further, why haven’t we already solved for multiple economic primitives in every part of the world? After all, this is the Internet Age.
If you study the root causes of business disasters, over and over you’ll find this predisposition toward endeavors that offer immediate gratification. If you look at personal lives through that lens, you’ll see the same stunning and sobering pattern: people allocating fewer and fewer resources to the things they would have once said mattered most.
The scorecard approach to life also feeds right into a known human tendency that drives us away from happiness: People often have trouble finding lasting satisfaction from worldly rewards, because as soon as we acquire something, our desire resets and we are looking to the next reward. Check one box, and another one immediately appears. And, of course, it’s always a bigger box.
Covid brought shock and a lot of broken habits to tech, but mostly, it accelerates everything that was already changing. 20 trillion dollars of retail, brands, TV and advertising is being overturned, and software is remaking everything from cars to pharma. Meanwhile, China has more smartphone users than Europe and the USA combined, and India is close behind - technology and innovation will be much more widely spread. For that and lots of other reasons, tech is becoming a regulated industry, but if we step over the slogans, what does that actually mean? Tech is entering its second 50 years
If we’re really going to cater to ourselves, why not do a few minutes of yoga, or drink tea, as we've been told to do 5,000 times by freakishly cheerful wellness influencers? Why fall face-first into our phones? “For many of us, when we finally put away all of our technology at the end of the night, it is the first time that we are left alone with our thoughts and feelings without any distractions
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