Delivery app tipping isn’t about feedback mechanisms.. it’s a tool for maximizing price paid by consumers… eaters are economically irrational with tip, for every $1 in tip, they economically behave as if it were $0.80 (directionally true but hypothetical figure) … this means less price elasticity for the same price… couriers are also economically irrational with tip, for every $1 in tip they economically behave as if it were $1.20 (directional)
The tip is a hack on human psyche which the apps must implement and maximize or miss out on economic surplus that their competitor will use to defeat them.
The app that decides to pay the same net amount to the courier but as a square deal vs a drop fee + tip will lose market share every day to an equal marketplace player that implements and maximizes tip
Bob is convicted of killing Pete, and is sentenced to 30 years in prison for the crime. Pete actually faked his own death and has been living in Hawaii ever since. Bob serves his 30 years. As soon as he is released, Bob finds Pete and kills him. Should Bob go to prison for this?
“Musk talks to Europeans the way Americans think. Americans despise us for our servility. And Musk is just the guy who says it.”
I would add that the cringeworthy lack of style is just as much a shock to old posh Europe.
Emmanuel Todd - probably the greatest living French intellectual - absolutely spot on as usual:
"Elon Musk is an astonishing character. He's the richest man in the world and so he has no filter. So he says things that seem absurd to us. I mean, he interferes in German politics, he basically craps on the Germans. He interferes in English politics, he craps on the English. He's just saying it out loud, but the truth is that when you read American geopolitical experts, this is what Americans think of us! Meaning he talks to Europeans the way Americans think. Americans despise us for our servility. And Musk is just the guy who says it. So we're shocked."
@fakod Some data point from my bubble:
EU politicians are crying for regulation to stop Elon Musk from behaving like he does on Twitter.
Also they regulate things like curvature of cucumbers.
Also they want to regulate AI even though no AI is happening anyway.
Such a good project by @natfriedman and team. There was a lot of speculation on this topic and now there is rigorous methodology for testing and a ton of already interesting data. This will lead to lots of improvements over time.
New rules to improve gender balance in corporate boards now apply across the EU.
By 30 June 2026, members of the underrepresented sex must hold at least:
🔹 40% of non-executive director positions
🔹 33% of all director positions