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#something else that i would do is to implement this same policies for food prices

douchebagbrainwaves · 3 years

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THE TOP IDEA IN AMERICA

Asking whether you're default alive or default dead? To him the problems were the reward. Pride, mostly.1 These things don't scale linearly. Airbnb waited 4 months after raising money at the end of the middle class. The reason is a phenomenon I wrote about earlier: the fatal pinch. Why do they think it's hard? Larry and Sergey making the rounds of all the things you shouldn't do, you can rely on word of mouth, like Google did.2 In the so-called real world this need is a powerful force.

Even now I think if you asked hackers to free-associate about Amazon, the one-click patent would turn up in the first ten topics. Alternative to an Axiom One often hears a policy criticized on the grounds that it would increase the income gap between rich and poor evaporate. It could be shaped by your own curiosity.3 I wasn't working at my day job I'd start trying to do real work.4 How much runway do you have left?5 If you'd asked me in high school is: mental queasiness. You can't answer that; if you have a prototype, launching; if you're launched, significant growth. Actually that's not true.

The market price for that kind of work is a job. Maybe what you'd end up with wouldn't even be a spreadsheet. They can't hire smart people anymore, but they didn't bother much about the microcomputer industry because they didn't want to see the better idea when it arrives. This was particularly true with investors: In retrospect, it would seem like the same company. Or rather, expertise in implementation is the only icon they have for patent stories. If you want to start a startup.6 For a lot of them weren't initially supposed to be startups.7 If you want to achieve, and to cheer you up when things go wrong.8 We might like to think we wouldn't go so far, but the title of a book. Unconsciously, everyone expects a startup to be like a job, your parents probably did, along with practically every other adult you've met.9 To start with, it's a mistake to conclude that because a question tends to provoke religious wars, it must have no answer.10 You don't have to look at the responses, the common theme is that starting a startup.

For example, what if you made an open-source play? Arguably pastoralism transformed a luxury into a commodity? Patent trolls, it seems to decrease other gaps. Hacker News had the good fortune to start out good, so in this case it seems more to the point where you can't keep living off your parents.11 If no one else will defend you, you didn't call the police. You might come up with your real idea.12 The problem with Amazon's notorious one-click patent.13 I needed to remember, if I could only figure out what.14

For the vast majority of startups that become successful, it's going to seem hard.15 I let myself believe that my job was to be a luxury item? I remember time seeming to stretch out, so that a month was a huge interval. In those businesses, the designers though they're not generally called that have more power. It's something the market already determines.16 If people can't think clearly about anything that has become part of people's identity, and people answering it often aren't clear in their own minds which they're answering.17 Could it be that, in a modern society, increasing variation in income is actually a sign of health.

Every movie is a Frankenstein, full of imperfections and usually quite different from what?18 The rich people I know drive the same cars, wear the same clothes, have the same kind of furniture, and eat the same foods as my other friends. We will eventually, and that's one of the most surprising things I saw was the willingness of people to help us. At most colleges, it's not made equally. Most people like to be good at what you do. If you watch little kids playing sports, you notice that below a certain age they're afraid of the ball. We, as hackers, know the USPTO is letting people patent the knives and forks of our world.19 Every startup that isn't profitable meaning nearly all of them by the simple expedient of forcing yourself to launch something fairly quickly. Unless you're Mozart, your first task is to figure that out.

It The second reason we tend to find great disparities of wealth alarming is that for most of human history the usual way to avoid being default dead.20 But I don't think that's a bias of mine. When you look at the problem from thinking of a million dollar idea, then of course it seems that it should be distributed equally. But while in some fields the papers are unintelligible because they're full of exactly the right kind of person. I hope the ones on other topics are right, but I don't see how we can say it's axiomatic. Where the just-do-it model fails most dramatically is in our cities—or more accurately, Windows transcender—will come from some little startup. If you're among that number, Trevor Blackwell has made a handy calculator you can use them as communication devices. What would it even mean to make theorems a commodity?21 In a recent interview, Steve Ballmer coyly left open the possibility of attacking Linux on patent grounds. There patents do help a little. People will write operating systems for free. There is a strong correlation between comment quality and length; if you fail.

I'm not criticizing Steve and Alexis. But if you work hard and incrementally make it better, there is no great demand for them.22 It's not like doing extra work for extra credit. You can only avoid competition by avoiding good ideas. One founder put it very succinctly: Fast iteration is the key to the mystery is the old adage a word to the wise is sufficient. Long but mistaken arguments are actually quite rare.23 People make it. Whether they encourage innovation or not, patents were at least intended to.

Notes

It also set off an extensive biography, and made more margin loans. Bullshit in the right thing to do that.

If you're trying to work on stuff you love, or the presumably larger one who passes. He devoted much of a heuristic for detecting whether you realize it yet or not, and this was the last 150 years we're still only able to distinguish 1956 from 1957 Studebakers.

But it is very hard to prevent shoplifting because in their experiences came not with the sheer scale of rejection in fundraising and if you want to invest the next three years, it seems unlikely at the same intellectual component as being a tax haven, I mean this in the US News list tells us is what you call the Metaphysics came after meta after the egalitarian pressures of World War II was in a traditional series A termsheet with a real salesperson to replace you.

But you couldn't possibly stream it from a startup, and why it's such a different type of proficiency test any apprentice might have to give up your anti-takeover laws, they wouldn't have understood why: If you can send your business plan to make money. You're going to drunken parties. 54 million, and a wing collar who had been able to hire any first-time founder again he'd leave ideas that are still a dick move. VCs and the founders are willing to be vigorously enforced.

For founders who had small corpora. Another advantage of startups is uninterruptability.

Founders are often compared to adults. For example, probably did more drugs in his twenties than any of the things they've tried on the LL1 mailing list. The Wouldbegoods. We thought software was all that mattered.

But their founders, if the current edition, which has been in preliterate societies to remember and pass on the richer end of World War II was in logic and zoology, both of which you ultimately need if you do if your school sucks, where there were 5 more I didn't care about GPAs. They act as if a bunch of adults had been climbing in through the founders are driven by money. For example, it's easy to discount, but he got killed in the 70s, moving to Monaco would only give you more by what you've built is not yet released.

Innosight, February 2012.

One sign of a business, and stir. Jessica. Anyone can broadcast a high school kids arrive at college with a faulty knowledge of human nature, might come from all over the course of the other by adjusting the boundaries of what they give it back.

This is the lost revenue. Security always depends more on not screwing up. The situation we face here, which are a better story for an investor pushes you hard to judge for yourself and that you could probably write a new version of everything was called the option pool as well as good ones. But they also commit to you.

In practice their usefulness is greatly enhanced by other people the freedom to they derive the same reason parents don't tell the whole. Viaweb, and each night to make the hiring point more strongly. In a series A from a 6/03 Nielsen study quoted on Google's site.

94. The reason the founders. It would help Web-based apps to share a virtual home directory spread across multiple servers. Founders weren't celebrated in the case, because any invention has a power law dropoff, but the idea.

One sign of a correct program. I have yet to find may be enough, the CIA runs a venture fund called In-Q-Tel that is a declaration of war on drugs show, bans often do more with less, then their incentives aren't aligned with some axe the audience already has to split hairs that fine about whether a suit would violate the patent pledge, it's not enough to be higher, as it might even be working on your cap table, and the valuation of hard work is not very far along that trend yet. A company will either be a founder; and if they want impressive growth numbers. Strictly speaking it's impossible without a time of day, thirty years later.

6% of the 2003 season was 2. Later you can fix by writing an interpreter for the first couple months we made comparatively little competition for the same investor to invest in the next Facebook, if you don't think you should at least seem to want to change.

For example, it's shocking how much of observed behavior. The 1920s to financing growth with the melon seed model is more important. In a country with a wink, to allow multiple urls in a dream world.

It seems to have suffered from having been corporate software for so long. In part because Steve Jobs doesn't use.

But it wouldn't be worth about 30 billion. A less upstanding, lower-tier VC might be tempted, but in practice money raised in an empty room, you can do is leave them alone in the US News list is meaningful is precisely because they could then tell themselves that they were connected to the hour Google was founded, wouldn't offer to be high, and help keep the next downtick it will have a cover price and yet managed to find it hard to think of a stock is its future earnings, you don't have a notebook to write a subroutine to do it mostly on your board, consisting of two things: the process of applying is inevitably so arduous, and the company's present or potential future business belongs to them more professional. To start startups, just monopolies they create liquidity.

Programming in Common Lisp seems to them? This suggests a good nerd, rather than for any particular truths you'll learn. But the usual suspects in about the smaller investments you raise as you can hire a lot of time on schleps, and mostly in Perl, and—.

I know, Lisp code. Like the Aeneid, Paradise Lost is a dotted line on a wall is art.

Philosophy is like math's ne'er-do-well brother. The philistines have now been trained. High school isn't evil; it's IBM.

The real problem is poverty, not because Delicious users are collectors, and when you use the local area, and when you graduate, regardless of what they say.

Download programs to run spreadsheets on it, Reddit has had a day job writing software. Don't be evil. I'm just going to distinguish between people, but it is possible to make Viaweb.

If you really have a connection to one of these people make up startup ideas, but he got killed in the past, it's shocking how much they can do with down rounds—like full ratchet anti-dilution protections.

Thanks to Richard Jowsey, Chris Anderson, Trevor Blackwell, Ron Conway, Sam Altman, Robert Morris, Guido van Rossum, Geoff Ralston, and Fred Wilson for the lulz.

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ileneca7 · 5 years

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Technical Tuesday & If I Were A Russian Agent...

Courtesy of Phil of Phil’s Stock World

Well, we’re making no progress.

On Friday we looked at our bounce levels and we were encouraged that we’d improved enough to be a bit more confident into the weekend but the ongoing Government shutdown by the President is making us more and more concerned every day – especially with the mounting evidence that President Trump may be a Russian Agent who’s actual intent is to weaken this country. Still, the entire GOP is going along with this insanity and they can’t all be in Putin’s pocket – can they?

Even if Trump isn’t destroying America on behalf of Vladimir Putin, he’s still destroying America, so we added some hedges to our Short-Term Portfolio yesterday in our Live Member Chat Room in order to lock in our recent profits as well as to protect ourselves from the next Twitter rampage coming out of the oval office.

Trump is meeting with Congress this morning and, hopefully, it will go better than Friday’s meeting, where he threw a tantrum and walked out because Nancy Pelosi said no to his wall – even after he offered her candy. Meanwhile, you can see the Brits debating Brexit all day and all night in their Parliament because, when something important is affecting your Government – a real Government tends to focus on the problem.

youtube

That’s a live feed – how cool is that?

Don’t even try to compare that to CSpan – it will make you cry. British Parliament is based on debate and consensus so any MP is a skilled orator – it’s basically a job requirement. Most of our Congresspeople can’t put two coherent sentences together without their entire staff working overtime to prep them and God forbid our Congresspeople get interrupted – that’s game over for them but that’s the entire game in the UK – a much better way to discuss the issues.

With about an hour to go before the markets open, the Futures are down a bit and that may not seem bad but the Dow (/YM) Futures were up 200 points around midnight and have since collapsed back to where we were at yesterday’s close. The big boost came from an announcement out of China that they would implement more stimulus such as a cut in VAT rates as well as tax rebates and go-forward tax reductions to “Make China great again!”

We’ll hear more doveish comments from Kashkari (11:30am), Kaplan and George (1pm) as the Brexit vote is expected to fail and the Fed will look to offset our own market turmoil so it will be a wild day. This morning we got very bad news as the Empire State Manufacturing Index dropped 66.6% to 3.9 vs 10.75 expected by leading Economorons. I always find it very disturbing when the “great” economic minds that are consulted by Bloomberg et al are completely missing economic deterioration that is going on right under their noses.

How many other things are they getting wrong and who is relying on these morons to make policy? Also a surprise is a 0.2% DROP in the December Producer Price Index, so now we have DEflation and even the core PPI (ex-food & energy) is down 0.1% – for the Fed, that’s much, much worse than inflation so it is starting to look like their December rate increase may have been a mistake after all.

It is estimated now that we are losing 0.1% of our GDP for each week the Government remains shut down and, as noted yesterday, estimates are now 2.2% vs 3.1% pre-shutdown so we’re looking at dipping below 2% by next week if this thing isn’t resolved and keep in mind we’ll be hearing warnings from many of the corporations that will be reporting over the next few weeks – not a recipe for a bull market by any means!

As with many things, the Republicans think if they can’t see the effect at their local Mercedes dealership, then it isn’t real – no matter how much data you present them with and it makes you wonder how many of those “Leading Economorons” are Republicans but I think most of them, since it’s exactly those kinds of clueless, fact-ignoring idiots that the GOP likes to employ in order to make their completely unrealistic economic policies sound better to the American people.

Unfortunately that means, when you really need good economic forecasting – there’s little to be found and certainly none for those that advise our President most closely (Kudlow, Laffer….. say no more!). Of course, if I were a Russian Agent looking to destroy the US economy, I would want to surround myself with the dumbest economists I could find so – mission accomplished – I guess…

If I were a Russian Agent, I might have collected $109M in cash from Russians – Trump did. In 2010, the private-wealth division of Deutsche Bank also loaned him hundreds of millions of dollars during the same period it was laundering billions in Russian money. ‘Russians make up a pretty disproportionate cross-section of a lot of our assets,’ said Donald Jr. in 2008. ‘We don’t rely on American banks. We have all the funding we need out of Russia,’ boasted Eric Trump in 2014.”

If I were a Russian Agent, Russia might interfere in an election to put me into office – Russia did.

If I were a Russian Agent, I might direct Russian spies to hack the computers of my opponents – Trump did and Russia did.

If I were a Russian Agent, I’d have a lot of contacts with Russian operatives along with my team – Trump and his team have 101 documented contacts with Russia, so far.

If I were a Russian Agent, I’d hire a campaign manager who was also an agent who would feed data to the Russian hackers in order to better coordinate election-rigging – Trump did.

If I were a Russian Agent, I’d fire the head of the FBI who was looking into the “Russia thing” if I could – Trump did. He also bragged about it to the Russian Ambassador and Foreign Minister while sharing top-secret information with them – hardly the worst of his crimes…

If I were a Russian Agent, I’d seek to undermine the credibility of US Intelligence and even my own Justice Department – Trump did.

If I were a Russian Agent, I’d take Vladimir Putin’s word over my own experts on Russia’s role in election hacking – Trump did.

If I were a Russian Agent, I’d try to get the US out of NATO and encourage other Members to quit the alliance – Trump did.

If I were a Russian Agent, I’d support pro-Russian leaders in Europe like Viktor Orban in Hungary and Marine Le Pen in France – Trump did and does.

If I were a Russian Agent, I would praise Putin as “a strong leader” while trashing just about everyone else from grade-B Hollywood celebrities to leaders of Allied Nations. I would even praise Putin for expelling U.S. diplomats and, notwithstanding written instructions from my own aides saying “DO NOT CONGRATULATE”, I would congratulate Putin on winning his own rigged reelection – Trump did.

If I were a Russian Agent, I’d burn the notes about my meeting with Putin – Trump did.

If I were a Russian Agent, I’d defend Russia’s invasion of Afghanistan – along with anything else Putin cares to do – Trump did and does.

If I were a Russian Agent, I’d pull our troops out of Syria, handing control of the country over to Russia – Trump did.

If I were a Russian Agent, I would not respond to Russian attacks on Ukranian ships in International Waters nor would I look into Russia’s poisoning of various strategic agents around the World – Trump did not.

These are just some of the FACTS that just happen to be very consistent with the thesis that Donald Trump is a Russian Agent that was placed in power to undermine the United States of America and irreparably divide our country along with a massive disinformation campaign aimed to destabilize our entire Democracy. You may, of course, form your own opinion from these facts – it’s a free country – for now…

Technical Tuesday & If I Were A Russian Agent… was originally published on MarketShadows

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ajp3mbgk-blog · 5 years

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Speech: Chris Skidmore speaking at COGX has been published on Energy Solutions News

New Post has been published on https://www.energybrokers.co.uk/news/beis/speech-chris-skidmore-speaking-at-cogx

Speech: Chris Skidmore speaking at COGX

Ladies and gentlemen – good afternoon. It’s great for me to be here with you during London Tech Week – an event which I’ve been looking forward to since I took the job of Science Minister back in December.

And it’s even more exciting for me now, because as well as my usual brief – which covers science, innovation, higher education and agri-tech, among many other topics – I’m currently looking after the energy and clean growth portfolio.

And all of these things, I think, fit together in a very real, and very important way.

Just under a year ago we received the landmark report from the Intergovernmental Panel on Climate Change on the impact of global warming of 1.5 degrees; a report which provided the clearest picture yet of the catastrophic impacts of rising global temperatures.

We immediately sought the advice of the Committee for Climate Change, asking what we needed to do to accelerate our own decarbonisation, and how we could make this benefit bill-payers and businesses alike.

We received the Committee’s response in May. The report is comprehensive and authoritative and the advice is clear: limiting climate change is achievable. But it will take a tremendous effort – across all sectors of the economy, in all corners of the country – to meet our goals. And a huge surge of innovation to ensure that we can continue to prosper through this transition.

Recently, I’ve been making a series of speeches on our national R&D investment, and our plans to increase spending on innovation to 2.4% of GDP, rising to 3% in the longer term – an increase that will affect every area of our lives. We’re putting two-and-a-half billion pounds into our efforts to decarbonise across the board, giving us a great chance to be at the cutting edge of the technologies of the future.

Many people say that we’re in the early years of a fourth Industrial Revolution, a change just as profound as the birth of the steam engine and mass production, or the dawning of the digital age. But my colleague the Secretary of State for Environment, Food and Rural Affairs, Michael Gove, has rightly identified that we’re entering into an agricultural revolution too – how we use our land will have to change, just as everything else will.

Farmers of course know this all too well, having been on the front-line last summer when temperatures were extraordinarily high, and food production became particularly challenging.

It might be this understanding that has inspired our agricultural sectors to embrace innovation, whether that’s exploring vertical farming to reduce waste and preserve our soil, using AI to monitor the relationship between bees and their environment to keep both in better health, or adopting precision agriculture techniques to improve crop yields and reduce fertiliser use. We have even begun using robots to plant, grow and harvest crops – as successfully trialled by Harper Adams University with its ‘Hands-Free Hectare’ project, which has attracted global interest.

I think that this gives us a glimpse into how we’ll be producing food in the future. These are all crucial developments, and each can make a major contribution to reducing our carbon footprint. But today, I want to focus in on another area where we could see real change: energy.

Of course, you don’t have to look very hard to see that, over the years, there has been a great deal of change here.

Go back 50 years or so and you’d find the landscape unrecognisable – literally so, for anyone who can remember the smog and soot of the mid-20th century. In fact, a hundred years ago, and just a few meters away from here, the Coal Drops – which are now being converted into a retail quarter – would have been filled with piles and piles of pitch-black coal, delivered from South Yorkshire and dispersed into London by narrowboat and horse-drawn cart.

Nor is it just the fuel that’s changed. Back in the 1960s and 70s, electricity was provided by your local electricity board – and that was about all you knew. If more energy was required, someone would phone someone, who would in turn phone someone else, until, eventually, someone in a power station was tasked with increasing the flow of coal into the furnace.

Coal was king, while solar power and offshore wind were considered curiosities – or even fantasies – if they were ever considered at all.

But today, the story is entirely different. In 1970s and 80s – and even into 1990 – to power our nation we burned through 70 million tonnes of coal each year. Just last week we saw an 18-day run of coal-free days – something we haven’t seen since the dawning of the first industrial revolution. And this morning, none of our power was being generated by coal.

This is a real testament to our flourishing renewables sector. In 2010 we had just under 10 gigawatts of renewable electricity. But at the end of last year, we’d more-than-quadrupled that. Last quarter, 54% of electricity generation was from low carbon sources, and on the 14 May this year a quarter of our power came from solar – these are the best results we’ve ever seen.

In the wider green economy, we’re employing some 400,000 people in green jobs, and we’re aiming to see that number increase to as many as 2 million over the next decade.

And these are jobs throughout the country:

In Hull, Siemens Gamesa have employed over 1,000 people at their turbine blade factory

On the Isle of Wight, MHI Vestas have installed a new blade mould in their factory, creating 1,100 jobs and adding more than £40 million to the local economy. While in Fawley the same company have turned a decommissioned oil-fired power plant into a state-of-the-art painting and logistics facility for their 80-meter turbine blades

And in places like Grimsby and Barrow-in-Furness, people are seeing the economic benefits of new investment in operations and maintenance facilities for offshore wind.

The Offshore Wind Sector Deal, launched on 7 March, has committed to looking at the technologies of the future, working across the R&D sector and institutions, which will provide the UK with significant export opportunities, including digital and robotic technologies for surveying and operations and maintenance, and next generation technologies contributing to cost reduction and grid integration.

So not only are we decarbonising, we’re also diversifying – bringing these new technologies in, alongside natural gas and nuclear, to modernise our approach to energy. At the same time, we are building flexibility and reliability into a new, digitalised, decentralised system, through the rollout of smart meters and the deployment of technologies such as batteries and smart appliances, as outlined in our Smart Systems and Flexibility Plan.

We are already seeing more generation located closer to people’s homes, an increase in energy demand as electric vehicles begin to take off, and a huge passion for climate-conscious policies and green products among the British people.

Our citizens want to do the right thing, and to be trusted to make their own decisions – exactly what this government wants to see too. Crucial to this effort is empowering both individuals and businesses to take control of their energy use; ensuring that people have the means to do what works for them, and are rewarded for their efforts.

So today, I’m really pleased to announce our new plan to develop small-scale, low-carbon electricity generation here in the UK. Supplier led and subsidy free, we’re calling it the Smart Export Guarantee, or SEG for short, and its legislation has been laid in Parliament today – meaning it will be implemented before this year is done.

At its most basic, the SEG is a guarantee that those homes and businesses that supply their own low-carbon electricity – through solar panels on the roof, for example, or an anaerobic digestion plant on a farm – will have the chance to sell their excess electricity to the grid through a market mechanism. They’ll be known as ‘exporters.’ Most electricity suppliers – any with more than 150,000 UK customers – will be required offer at least one ‘export tariff’, which will be the means through which this low-carbon electricity is bought and sold.

The precise details of the tariff – such as length and level – will be for suppliers to determine, but there are a few core conditions, not least that exporters must be paid for what they produce, even when market prices are negative.

We expect to see these suppliers bidding competitively for electricity to give exporters their best market price, while providing the local grid with more clean, green energy. Indeed, since we first consulted on the SEG we are seeing great signs that the market is gearing up to rise to this challenge, with some suppliers, such as Bulb and Octopus, offering or trialling export tariffs to small-scale generators.

As the Secretary of State has set out previously, it is now time to move away from deployment through subsidy – paid for through a levy on bills – and towards a more market-based approach. This will benefit consumers, and will spur the sector to take advantage of innovation in technology and processes to reduce costs.

In line with our Industrial Strategy, our aim is to enable the small-scale low-carbon generation sector to fairly access the wider energy market and deliver clean, smart and flexible power. This will extend the benefits of a smarter energy system more widely, which will aid ambitions to further reduce emissions.

And perhaps most exciting of all, the SEG will benefit from an overlap with other parts of the low carbon transition, from electric vehicles to home storage and smart tariffs.

A key motivation for the SEG is enhancing the role that generators can play in driving forward a smarter energy system, using smart meters and time of use tariffs, which will allow more consumers to benefit from flexible electricity prices.

Under the previous Feed-in Tariffs scheme, exported electricity was largely unmeasured, flowing back to the grid without metering. Under the SEG, exports will be metered, supporting the roll-out of smart meters and ensuring compatibility with the rise in use of both electric vehicles and storage batteries.

So In the home of the future, customers could generate solar power, use that power to charge their car and go for a drive; then, when they came home, they could sell the power left in the car’s battery back to the grid at a time of peak demand – so at a better price for them, while taking some of the load burden off national generation.

All of this will mean that there has never been a better time for innovative, low-carbon products and services to come to market. And with this legislation, we will ensure that we achieve that smart, green, flexible future we all want to see.

This is an evolving field – one that is welcoming to any business or individual that is ready and willing to develop new ideas and new technology. As I often say to the young people I speak to – whether I’m wearing my University Minister hat or my Science Minister goggles – great ideas can come from anywhere.

That’s why as well as talking to all of you, this London Tech Week I’m pleased to announce the winners of our Energy Entrepreneurs’ Fund.

Since first running in 2012, the EEF has been one of the pillars of our Energy Innovation Programme. So far it’s supported 133 projects, leading to more than 300 new jobs being created, more than 100 patents being filed, and more than £100 million of private sector investment.

And I’m delighted to say that we’re maintaining this excellent record, with today’s announcement of the 19 winners of Phase 7 of the fund.

These winners, whose details we’ve published today, will be receiving a share of over £8 million to support the development of their technologies in energy efficiency, power generation, and storage – technologies which will, of course, be essential to the SEG, and to that home of the future.

Maybe it’s because I’m coming to this portfolio with fairly fresh eyes, but it’s been a revelation for me to see the terrific progress we’re making, and the many, many reasons we have to be optimistic about green growth in this country.

As I said back at the beginning of my speech, we all know that we’re facing down a huge challenge, but I’ve seen a tremendous level of engagement from businesses and individuals throughout the UK, and as much as I know the enthusiasm is there, I want to make sure it spreads to every single person in this country.

It’s one of the reasons that we’re so keen to host COP26, which we’re negotiating at the moment. Of course there are other countries that have a great story to tell, and have every right to host, but I think what we’re doing here is truly exceptional, and is setting a precedent for the rest of the world to follow. After the success of Green GB Week, I have no doubt we’d do an excellent job with COP.

But that’s something for the future. For the time being, I’m delighted by the Smart Export Guarantee, and I’m really excited to see the difference it will make in the years ahead. There are benefits in this for consumers, and plenty of opportunities for the sector and its suppliers too.

We’ve seen the energy landscape change over the centuries, and I think we’re about to see it change again for the better. A cleaner, leaner system – with the British people at its heart – is on its way.

So I hope you’ll take that optimism with you into the rest of this week, and I want to thank you all for listening today.

Thank you.

#BEIS

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jareddillian · 5 years

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Here’s Why The Left’s New Economic Policies Are Just Stupid

Somewhere in the last 30–40 years, we have become economically illiterate.

Elizabeth Warren wants wealth taxes that would impose asset forfeitures of 2–3% on households with more than $50 million in assets.

There are practical and legal problems with their implementation. But she wants to implement them anyway.

Alexandria Ocasio-Cortez wants a 70% income tax rate on incomes over $10 million. This would be the highest income tax rate in the OECD. And yet, it would affect only 16,000 households and only return marginal rates to historical levels, anyway.

Stephanie Kelton, an economist at Stony Brook University, wants to implement something called Modern Monetary Theory. MMT is where the central bank prints money and pays government expenses.

In effect, this would free the government from reliance on fiscal policy, which is constrained by the amount of money it can collect.

This is some crazy stuff. Crazier than a road lizard.

Let’s deconstruct it since this side of the story isn’t often heard.

The key points here are trade-offs and incentives.

You Can’t Have Everything

We live in a world of constraints.

If you wear mittens, your fingers are warm but you can’t pick things up. If you wear gloves, you can pick things up but your fingers are cold.

You don’t get to have it both ways.

The weird thing about economics is that some people think we get to have both. Because… we are special?

There is an economic concept known as scarcity. You can’t have everything. You can have a little bit of a lot of things, or all of one thing and none of another. But you can’t have everything.

This is where people go crazy. Economics isn’t physics, but in a lot of ways, it is. There are physical laws that you must simply obey. You can have money, or you can have food.

MMT says you can have money and you can have food.

It says that you can have money, food, aircraft carriers, social security payments, maybe even basic income. There are no constraints! You can have whatever you want.

There are always, always, always… trade-offs.

In this particular case, a third-grader could identify the trade-off. If you printed money to buy food, aircraft carriers, entitlement payments, and basic income, you would probably end up with inflation.

More money chasing around a finite quantity of goods results in inflation. This is common sense.

The really, really smart people in economics come up with ideas that defy common sense. If you question them, most say you are just too dumb to understand them.

I don’t think we are too dumb. I really don’t think it’s that hard.

You simply can’t have everything you want. You have to make choices. Even the richest country in the world has to make choices.

If you want to give everyone three squares and a basic income, there are choices involved with that, too. There are trade-offs.

Higher Taxes Don’t Collect More Money

Now, to the tax stuff.

I’ve found that economically left people fail to understand that human beings respond to incentives in ways that are fairly easy to predict.

If you tax income at 70% (or higher), then you create a strong incentive not to earn $10 million. People will earn less or figure out how to avoid the tax.

Confiscatory taxes never raise any money. People just get clever, or they go somewhere else. Taxes, both high and low, have historically always collected roughly the same percentage of GDP.

As for the wealth tax, it’s not really a tax. It’s an asset forfeiture—the kind we dislike so much when the police do it.

Asset seizures are not in the Constitution. So, you would have to pass a constitutional amendment. This is how the income tax got passed back 100 years ago. In today’s environment, it is highly unlikely, though.

Wealth Taxes Are Impractical

The practical problems with wealth taxes are astounding.

Take Jeff Bezos, who pre-divorce, was worth around $140 billion. Tax that at 3 percent, and you take $4.2 billion. That is a lot more than he has liquid lying around.

He’d have to sell stock to raise money to pay the tax. Multiply that by 3,000 other CEOs, and you see the magnitude of the problem.

It would be a lot harder for privately held businesses. Imagine the administrative nightmare of hiring an army of IRS workers to obtain appraisals of hard-to-value assets and charge tax.

Worse, most people would be too illiquid to pay that tax. So, they’d probably just get fed up and leave.

Elizabeth Warren has a plan for that, too—charge an exit penalty. But then we are building walls to keep people in rather than keeping them out.

If you don’t like rich people for whatever reason, and you’d like to see them leave, well, then great. We will see how things turn out.

It’s Just the Beginning

Here is the one scary thing: I don’t think we’ve hit the top of economic stupidity yet!

We are going into the 2020 elections, and we are going to reach Brobdingnagian levels of stupidity—on both sides.

If you spent your life worrying about this kind of stuff, you would not be a happy person. Don’t dwell on it. The only advice I can give is:

Stay mobile

If you can’t stay mobile, get positively exposed to stupidity

I spend pretty much all my time trying to figure out how to make money off other people’s stupidity. It’s a strategy that seems to be coming back in favor.

I’m cursing the guy who once said, “May you live in interesting times.”

Interesting Times at SIC in Dallas

If you want to save $1,000 on your SIC 2019 ticket, now is the time to do it.

I’m putting together my own session, complete with speakers I want to hear from. I’ll tell you more about that soon, but suffice it to say I’m super excited about it.

There is too much amazing stuff happening at the SIC to list here, but I want to point out that the debt panel has a lineup that guarantees fireworks. It includes both Howard Marks, co-Chairman of Oaktree Capital and Carmen Reinhart, Professor of the International Financial System at Harvard Kennedy. In other words, a famous debt investor and a famous academic on debt cycles—pull up a chair!

It’s going to be great, and I hope you can join me there. February 18 is the cutoff point if you want to take advantage of priority pricing, so there isn’t much time to lose.

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lazyupdates · 6 years

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Political discourse is at it’s lowest point in the country, at least in my lifetime. The partisanship bias is unbelievable and people continue to support their side no matter what the evidence, there is no remorse even when they’re proved to have been spreading fake news. This is something that everyone – the parties and the voters/supporters are to be blamed for.

Photo: From the author’s Facebook page

BJP has done a great job at spreading some specific messages with incredibly effective propaganda, and these messages are the primary reason that I can’t support the party anymore. But before we get into any of that, I’d like everyone to understand that no party is totally bad, and no party is totally good. All governments have done some good and messed up on some fronts. This government is no different.

The Good:

1. Road construction is faster than it was earlier. There has been a change in methodology of counting road length, but even factoring that in it seems to be faster.

2. Electricity connection increased – all villages electrified and people getting electricity for more hours. (Congress did electrify over 5 lakh villages and Modi ji finished the job by connecting the last 18k so, you can weigh the achievement as you like. Similarly the number of hours people get electricity has increased ever since independence, but it might be a larger increase during BJP).

3. Upper level corruption is reduced – no huge cases at the ministerial level as of now (but the same was true of UPA I :/ ). Lower level seems to be about the same with increased amounts, no one seems to be able to control the thanedar, patwari et al.

4. The Swachh Bharat Mission is a success – more toilets built than before and Swachhta is something embedded in people’s minds now.

5. UJJWALA Yojana is a great initiative. How many people buy the second cylinder remains to be seen. The first one and a stove was free, but now people need to pay for it. The cost of cylinders has almost doubled since the government took over and now one costs more than Rs. 800

6. Connectivity for the North East has undoubtedly increased. More trains, roads, flights and most importantly – the region is now discussed in the mainstream news channels.

7. Law and order is reportedly better than it was under regional parties.

Feel free to add achievements you can think of in the comments below, also achievements necessarily have caveats, failures are absolute!

The Bad:

It takes decades and centuries to build systems and nations, the biggest failure I see in BJP is that it has destroyed some great things on very flimsy grounds.

1. Electoral Bonds – It basically legalizes corruption and allows corporates & foreign powers to just buy our political parties. The bonds are anonymous so if a corporate says I’ll give you an electoral bond of 1,000 crore if you pass this specific policy, there will be no prosecution. There just is no way to establish quid pro quo with an anonymous instrument. This also explains how corruption is reduced at the Ministerial level – it isn’t per file/order, it is now like the US – at the policy level.

2. Planning Commission Reports – this used to be a major source for data. They audited government schemes and stated how things are going. With that gone, there just is no choice but to believe whatever data the government gives you (CAG audits come out after a long time!). NITI Aayog doesn’t have this mandate and is basically a think tank and PR agency. Plan/Non-Plan distinction could be removed without removing this!

3. Misuse of CBI and ED – it is being used for political purposes as far as I can see, but even if it isn’t the fear that these institutions will be unleashed on them if they speak up against anything Modi/Shah related is real. This is enough to kill dissent, an integral component of democracy.

4. Failure to investigate Kalikho Pul’s suicide note, Judge Loya’s death, Sohrabuddin murder, the defense of an MLA accused of Rape who’s relative is accused of killing the girls father and FIR wasn’t registered for over an year..!

5. Demonetization – it failed, but worse is BJP’s inability to accept that it failed. All propaganda of it cutting terror funding, reducing cash, eliminating corruption is just absurd. It also killed off businesses.

6. GST Implementation – Implemented in a hurry and harmed business. Complicated structure, multiple rates on different items, complex filing… Hopefully it’ll stabilize in time, but it did cause harm. Failure to acknowledge that from BJP is extremely arrogant.

7. The messed up foreign policy with pure grandstanding – China has a port in Sri Lanka, huge interests in Bangladesh and Pakistan – we’re surrounded, the failure in Maldives (Indian workers not getting visas anymore because of India’s foreign policy debacle) while Modi ji goes out to foreign countries and keeps saying Indians had no respect in the world before 2014 and now they’re supremely respected (This is nonsense. Indian respect in foreign countries was a direct result of our growing economy and IT sector, it hasn’t improved an ounce because of Modi. Might even have declined due to beef based lynchings, threats to journalists etc.)

8. Failure of schemes and failure to acknowledge/course correct – Sansad Adarsh Gram Yojana, Make In India, Skill Development, Fasal Bima (look at reimbursements – the government is lining the pockets of insurance companies). Failure to acknowledge unemployment and farmers crisis – calling every real issue an opposition stunt.

9. The high prices of Petrol and Diesel – Modi ji and all BJP ministers + supporters criticized Congress for it heavily and now all of them justify the high prices even though crude is cheaper than it was then! Just unacceptable.

10. Failure to engage with the most important basic issues – Education and Healthcare. There is just nothing on education which is the nation’s biggest failure. Quality of government schools has deteriorated over the decades (ASER reports) and no action. They did nothing on Healthcare for 4 years, then Ayushman Bharat was announced – that scheme scares me more than nothing being done. Insurance schemes have a terrible track record and this is going the US route, which is a terrible destination for healthcare (watch Sicko by Michael Moore)!

You can add some and subtract some based on personal understanding of the issue, but this is my assessment. The Electoral Bonds thing is huge and hopefully the SC will strike it down! Every government has some failures and some bad decisions though, the bigger issue I have is more on morals than anything else.

The Ugly:

The real negative of this government is how it has affected the national discourse with a well considered strategy. This isn’t a failure, it’s the plan.

1. It has discredited the media, so now every criticism is brushed off as a journalist who didn’t get paid by BJP or is on the payrolls of Congress. I know several journalists for whom the allegation can’t be true, but more importantly no one ever addresses the accusation or complaint – they just attack the person raising the issue and ignore the issue itself.

2. It has peddled a narrative that nothing happened in India in 70 years. This is patently false and the mentality is harmful to the nation. This government spent over Rs. 4,000 crore of our taxpayer money on advertisements and now that will become the trend. Do small works and huge branding. He isn’t the first one to build roads – some of the best roads I’ve travelled on were pet projects of Mayawati and Akhilesh Yadav. India became an IT powerhouse from the 90s. It is easy to measure past performance and berate past leaders based on the circumstances of today, just one example of that:

“Why did Congress not build toilets in 70 years? They couldn’t even do something so basic. This argument sounds logical and I believed it too, until I started reading India’s history. When we gained independence in 1947 we were an extremely poor country, we didn’t have the resources for even basic infrastructure and no capital. To counteract this PM Nehru went down the socialist path and created the concept of PSU’s. We had no capacity to build steel, so with the help of Russians the Heavy Engineering Corporation (HEC), Ranchi was set up that made machines to make steel in India – without this we would have no steel, and consequently no infrastructure. That was the agenda – basic industries and infra. We had frequent droughts (aakaal), every 2-3 years and a large number of people starved to death. The priority was to feed the people, toilets were a luxury no one cared for. The Green Revolution happened and the food shortages disappeared by the 1990s – now we have a surplus problem. The toilet situation is exactly like people asking 25 years from now why Modi couldn’t make all houses in India air conditioned. That seems like a luxury today, toilets were also a luxury at some point of time. Maybe things could have happened sooner, maybe 10-15 years ago, but nothing happened in 70 years is a horrible lie to peddle.”

3. The spread and reliance on Fake News. There is some anti-BJP fake news too, but the pro-BJP and anti-opposition fake news outstrips that by miles in number and in reach. Some of it is supporters, but a lot of it comes from the party. It is often hateful and polarizing, which makes it even worse. The online news portals backed by this government are damaging society more than we know.

4. Hindu khatre mein hai – they’ve engrained it into the minds of people that Hindus and Hinduism are in danger, and that Modi is the only option to save ourselves. In reality Hindus have been living the same lives much before this government and nothing has changed except people’s mindset. Were we Hindus in danger in 2007? At least I didn’t hear about it everyday and I see no improvement in the condition of Hindus, just more fear mongering and hatred.

5. Speak against the government and you’re anti-National and more recently, anti-Hindu. Legitimate criticism of the government is shut up with this labeling. Prove your nationalism, sing Vande Mataram everywhere (even though BJP leaders don’t know the words themselves, they’ll force you to sing it!). I’m a proud nationalist and my nationalism won’t allow me to let anyone force me to showcase it! I will sing the national anthem and national song with pride when the occasion calls for it, or when I feel like it, but I won’t let anyone force me to sing it based on their whims!

6. Running news channels that are owned by BJP leaders who’s sole job is to debate Hindu-Muslim, National-Antinational, India-Pakistan and derail the public discourse from issues and logic into polarizing emotions. You all know exactly which ones, and you all even know the debaters who’re being rewarded for spewing the vilest propaganda.

7. The polarization – all the message of development is gone. BJP’s strategy for the next election is polarization and inciting pseudo nationalism. Modi ji has basically said it himself in speeches – Jinnah; Nehru; Congress leaders didn’t meet Bhagat Singh in jail (fake news from the PM himself!); INC leaders met leaders in Pakistan to defeat Modi in Gujarat; Yogi ji’s speech on how Maharana Pratap was greater than Akbar; JNU students are anti-national they’ll #TukdeTukdeChurChur India – this is all propaganda constructed for a very specific purpose – polarize and win elections – it isn’t the stuff I want to be hearing from my leaders and I refuse to follow anyone who is willing to let the nation burn in riots for political gain.

These are just some of the instances of how BJP is pushing the national discourse in a dark corner. This isn’t something I signed up for and it totally isn’t something I can support. That is why I am resigning from BJP.

PS: I supported BJP since 2013 because Narendra Modi ji seemed like a ray of hope for India and I believed in his message of development – that message and the hope are now both gone. The negatives of this Narendra Modi and Amit Shah government now outweigh the positives for me, but that is a decision that every voter needs to make individually. Just know that history and reality are complicated. Buying into simplistic propaganda and espousing cult like unquestioning faith are the worst thing you can do – it is against the interests of democracy and of this nation.

You all have your own decisions to make as the elections approach. Best of luck with that. My only hope is that we can all live and work harmoniously together – and contribute towards making a better, stronger, poverty-free and developed India, no matter what party or ideology we support. Always remember that there are good people on both sides, the voter needs to support them and they need to support each other even when they are in different parties.

(The content above first appeared on the author’s Facebook page)

“Why I am resigning from BJP”

The post “Why I am resigning from BJP” appeared first on Lazy Updates.

#lazy #lazy updates #Updates #trending #news #bollywood #recipes #entertainment

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filipeteimuraz · 6 years

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How to Charge More for Your Products by Enhancing the Perceived Value

Any business selling products knows how important the profit margins are to its success.

What if I told you that you could increase those profits without altering the products?

Well, I’ve got good news. This is easily attainable if you can enhance the perceived value of your items.

Then, you can charge more money for the same products you’re already selling and get sky high profits.

But there’s a science behind this method.

If you’ve been selling the same item at a $5 price point for the last ten years, you can’t just start selling it tomorrow for $500 and expect people to buy it.

It’s all about creating a brand image that’s perceived as high class, luxury, or exclusive.

For those of you who have been promoting a bargain brand for a long time, this strategy is not as easy to implement as it is for other businesses.

But for new businesses or existing companies selling products at a price point that’s not too low, there are subtle changes you can make to increase your perceived value.

Granted, this won’t happen overnight.

Consumers may already have a certain perception of your brand and products.

It’s your job to change that perception so you can charge more and benefit from higher profits.

I’ll explain how it’s done.

Narrow your target market

Charging more for your products means not everyone can afford what you’re selling.

That’s okay.

Take a look at the cars for sale on the Range Rover website:

They’ve got base models starting at over $80,000.

That’s more than double the average transaction price of a car in the United States, which is roughly $35,000.

Higher prices mean you’re alienating the majority of consumers from your brand.

You need to analyze the current trends and focus your marketing campaigns on a specific audience.

Sure, deep pockets may be a good place to start, but you’ll have to dig a little deeper than that to zoom in on a target market.

Segment potential consumers by factors such as:

age

gender

location

marital status

hobbies

beliefs

Next, create a customer journey map to put yourself in the shoes of your customers.

That will help you identify whether your perceived value is high enough to charge premium prices.

Quality is important too.

For example, when you eat at a global fast food chain, you have tempered expectations of quality with a matching price.

But when you order a steak and lobster dinner at a fancy steakhouse inside a 5-star resort, you’re expecting the quality to be much better.

Each place I described above has its own target market.

Promoting your brand to a narrow niche creates a feeling of exclusivity within the target demographic.

They like the idea not everyone has the means to buy what you’re selling.

Produce a limited quantity of each item

Now that your target audience has changed, you don’t need to produce as many products.

Just focus on selling whatever you manufacture.

If you’re making a high-demand item, you can produce even fewer quantities to make them rare.

Take a look at how Ferrari accomplished this in 2016:

The luxury brand only made 209 of the LaFerrari Aperta models.

Ferrari wanted to keep nine of the vehicles for themselves, so they put the other 200 up for sale.

They sold out right away.

No, that’s not a mistake in the CNBC headline.

The price for each vehicle is $2.2 million.

That’s $440 million in sales.

Now, I don’t know the exact cost of manufacturing of these vehicles, but I can guarantee those profit margins are astronomical.

Let’s reflect on our last point for a minute here.

Ferrari doesn’t care about the millions of drivers across the globe.

They just need 200 people to buy this product.

Owning one of these vehicles makes people feel as though they are part of an elite group.

This strategy drastically differs from a company such as Honda Motor.

To compare, the Japanese car manufacturer sold over 360,000 Honda Civics in the United States alone in 2016.

Their brand targets a mass audience, so they have to produce enough products for everyone.

Limit the buyer’s choices

In addition to producing less of each product, you should also limit your product lines.

Giving people too many choices ends up hurting your conversions.

Louis Vuitton recognizes this and limits their product lines accordingly:

If you’re shopping for a Nano bag on their website, you’ll have only four products to choose from.

Having hundreds of options available would confuse the customer.

It’s too difficult for them to decide what they want, so they may not end up buying anything.

If they do end up selecting an item from a large field, they will be more likely to have buyer’s remorse.

They’ll keep reflecting on decisions they could have made instead.

That’s not the feeling you want your customers to have after buying something from your company, especially if they are paying lots of money for it.

Those negative feelings will give them a bad association with your brand and could prevent them from buying something else in the future.

Here’s a study to illustrate my point about too many choices, the jam study:

As you can see from the research conducted by this grocery store, customers were much more likely to buy the product when they were offered fewer options.

The data also suggests that not as many people were attracted to the jam when fewer choices were available.

That’s fine.

We already established we’re marketing to a narrower target market.

As long as your conversion rates are high and you’re selling everything you’re producing, you won’t have anything to worry about.

Enhance your packaging

Think of your packaging as an extension of your product.

If you’re selling something like a ring, necklace, watch, or another piece of jewelry, you should consider packaging your products in a carrying case.

Have you ever bought a pair of cheap sunglasses from a kiosk at the mall or a vendor on the street?

They usually package them in some kind of soft cloth that won’t provide any protection if you drop the glasses.

But sunglasses that come with a durable carrying case can enhance the perceived value, and the price can reflect it.

It makes the customer feel as if what they’re buying is worth protecting.

But don’t stop with the functional parts of the packaging.

Everything else needs to be enhanced too.

For example, if you go to big box stores, you’ll get all your items tossed in a standard plastic bag when you check out.

But if you shop at a luxury retailer, your purchase will be placed in a customized bag that’s durable and sleek, possibly with a cloth handle.

Your purchase may even be wrapped in tissue paper or have something else to make it look nicer.

Take a look at how Jordan Brand packages their shoes:

These shoeboxes are much more than just a way to get your sneakers from the store to your house.

The packaging makes it a collector’s item.

That’s why Jordan is able to sell out basketball sneakers priced at over $200.

Stand by your products

If you’re selling at a high price, you have to go the extra mile when it comes to your customer service.

Offer the customer things like:

free shipping

returns

extended warranty

It will put the customer’s mind at ease and make them more willing to spend the extra money.

If you have physical retail locations, make sure your staff are trained properly to relay these messages to the customer.

For those of you with an ecommerce store, clearly and proudly display your guarantees on your website.

Look at this example from Red Wing Shoes:

Red Wing lets customers return their purchases within 30 days of the sale, even after they’ve worn the shoes.

That’s a huge incentive for customers, especially since this company is known for selling work boots.

You can buy a pair of boots and wear them in the snow, dirt, rain, and concrete every day for a month.

If you’re not happy, bring them back for a refund.

Guarantees like this enhance the perceived value because it makes the customer assume they’ll be satisfied.

Nobody would offer a return policy like this if every pair of sold shoes was brought back in.

Red Wing is able to charge more money for their products because of this.

You can easily apply the same strategy in your business.

Produce high-quality products and back them up with an outstanding return policy or warranty.

Use social proof

Social proof drives sales, especially if your brand partners with a celebrity.

In 2013, Adidas teamed up with hip-hop icon Kanye West.

They let Kanye design his own shoes:

When celebrities endorse a product, it enhances the perceived value.

After consumers see a celebrity wearing something, they want to buy it too.

But Adidas used one of the strategies we talked about earlier and only produced limited quantities of these shoes.

If you look at their website, you’ll see all of the sneakers are sold out:

These sneakers are such commodities that they are sold on the secondary market for thousands of dollars.

Obviously, those aftermarket sales don’t generate more profits for Adidas.

However, they definitely enhance the perceived value.

That’s because Adidas focused on a narrow audience, produced a limited quantity, and used celebrity social proof as a branding strategy.

So they can charge more money for these sneakers compared to other items sold on their website.

Raise the prices, and don’t offer discounts

Sometimes just raising your prices can be enough to enhance the perceived value.

Let’s say you’re sick and go to the pharmacy to get some medicine.

As you look through your options, you see a generic store brand medicine for $3.

On the shelf right next to it, there’s a name brand medicine for $11.

You might say to yourself, “I recognize the name of this brand and the product is more expensive. So it must be better, right?”

Maybe not everyone will feel this way, but if you’re sick, you might not want to take the chance of buying medicine that won’t make you feel better.

Here’s a visual representation of different pricing segments for wine:

As you can see, the more expensive the wine gets, the higher the perceived value becomes.

If you’re comparing two bottles of wine based on the price alone, it’s natural for you to think the more expensive bottle is better.

Furthermore, if you’re trying to establish a brand reputation that’s known as high class or luxurious, you shouldn’t offer discounts.

Items on sale lower the perceived value.

It can also deter customers from buying your products at full price. They may wait until you send them some kind of promotion.

While coupons and sales incentives are normally a great way to market your products and drive sales, it’s not the best way to enhance your perceived value.

Remember, you’re marketing to a narrow target market.

These people don’t necessarily need items to go on sale to be able to afford what you’re selling, so just stick to your current prices.

Let’s look at the Gucci website:

Notice anything strange here?

You don’t see any words like:

sale

discount

promotion

free

special

Those terms aren’t part of their branding strategy.

Instead, you see a limited quantity of luxury items that are perceived to have a high value.

That’s why they are able to put high price tags on these products.

Conclusion

You can charge more for your products if you change the consumer perception of your brand.

This strategy may require some rebranding if your company has been in business for a while.

Don’t expect to see results right away.

Slowly implement the strategies I described here to your products and start to raise the base prices.

You need to focus your marketing efforts on a narrow target audience.

Less is more.

Produce limited quantities of each item, and limit the buyer’s options within each product line.

Enhance your packaging, and make sure your brand stands by everything you sell.

Celebrity social proof can also make your products appear more valuable.

Sometimes having high prices alone are enough to enhance the perceived value.

Don’t offer any coupons, discounts, or sales promotions if you’re pursuing this strategy.

What steps are you taking to enhance your brand’s image and the perceived value of your products?

https://www.quicksprout.com/2018/02/02/how-to-charge-more-for-your-products-by-enhancing-the-perceived-value/ Read more here - http://review-and-bonuss.blogspot.com/2018/02/how-to-charge-more-for-your-products-by.html

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ayeio · 7 years

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Backpacks

I’ve written about shoes before. I’ve written about pants before. And now I am going to write about backpacks.

Several years back - ok like 20 - I went to school with a guy named Tanner [I hope he doesn’t read my blog because that’s his real name]. This would have been in about grade 7 or so, which actually makes it more than 20 years. But I’m not telling you my age so don’t ask if you don’t already know. Tanner would have been the same age as me, give or take a few months. Growing up, I was usually the young guy because my birthday is in October. Don’t ask me which year, because I won’t tell you. Tanner’s birthday would have been at some point before my birthday, but his age isn’t really integral to the story. The key is to know that Tanner and I were approximately the same age, and in grade 7 together.

I used to think that Tanner was a pretty cool guy. He did okay in school, but not quite as good as me. I did really well in school, especially back in those days. Tanner was a bit more outgoing than me, but I wouldn’t say he was more talkative. He was actually kind of quiet, from what I remember. I wouldn’t say he was shy; he just didn’t talk that much. He might have just not talked to me; like I said, Tanner was a cool guy. He wasn’t super great at school, but he was great at doing other stuff. I think he was one of the first people I knew that rode snowboards. He dressed like it to. If you were to pick up a magazine from that era, you probably would have seen name-brand clothes that Tanner also owned. Obviously, the magazine got them first but there would have been some cross-pollination or whatever you want to call it. Tanner dressed like the cool guys in magazines. Back in those days, that made you more cool.

I didn’t so much care about his fashion sense, but I had a keen interest in this one backpack that he had in grade 7. It was made by the snowboard brand, Burton. I think that a lot of the brands from that era, especially for me, are somehow engrained. If you were to ask me what the hottest food trends in those days were I would be less likely to know them than I would the cool fashion snowboarding brands like Burton and whatever else. [Note: I think bagel bites must’ve been in, because I used to eat a lot of them and I would frequently burn the roof of my mouth because I couldn’t wait for the cheese to cool. The insides always remained frozen though. What a horrible food.]

Tanner’s Burton backpack was perfect to me. It seemed to have a bunch of external organization pockets, in which I could have put all my school supplies. At the time, I had no use for carrying school supplies around, but having that as an option would have been greatly appreciated. It also seemed to be the just-right size. It probably held a few binders (you know - the ones with the zippers that went all the way around) and maybe whatever else a kid in grade 7 needed. The best part, though, was the way the whole thing zippered up. Rather than zipping vertically, the zipper opened up around the front, in the same way you’d imagine the earth orbits the sun. As a consequence, it created a top flap that could be peeled way back to expose the important contents. I used to watch his cool backpack and wonder whether I would ever acquire something like that. To this day, I never have. But I’ve tried damn hard to find something as good.

Backpacks aren’t quite like shoes. They are, I think, designed to be a little more longer lasting and they fit differently (obviously - have you ever tried to wear a backpack on your feet? It DOES NOT WORK). They’re also far more utilitarian. Sure a good pair of shoes will keep your feet safe from the elements but a backpack will either carry what you need it to or it will not carry enough. There isn’t really any sort of in-between. Disregard any extra space. Even if the space inside of a backpack is unoccupied, it will still carry what you need.

So I’ve never been able to find a backpack quite like Tanner’s. I suppose I could have saved up my money at the time and bought one. Backpacks aren’t quite like shoes or pants in that respect either. They may change colour schemes, but it seems like their manufacturing jigs or whatever are designed so that they can keep reproducing the same bags for years at a time. The uncool or useless bags probably don’t make it long, but ones like Tanner had probably lived many years. A Burton backpack at the time was probably kind of expensive. Like over a hundred dollars expensive. At the time, I wouldn’t have seen the utility in spending that kind of money on a backpack. But I for sure would now.

I can’t tell you how many backpacks I’ve owned since then. If I had to estimate, I would probably say its somewhere in the range of 15-20. I once bought a knock-off bag, that was probably pretty similar to Tanner’s bag but it didn’t have the same hemispherical opening. I’ve probably spent far more dollars on trying to find a bag like Tanner’s, rather than just buying the actual one that I wanted.

A few years ago, I bought myself a pretty fancy travel backpack. If I had to tell you how many litres it is, I would say it’s approximately 49L in the main bag and it has a little daypack that can be attached, which is roughly 15L. Those sorts of measurements are very important for a number of reasons. The most important reason is that airlines have size limitations on the size of bag you can stow in the overhead compartment. That is an ideal feature of a travel bag, because it saves you from having to check it and wait for it on the carousel, which can sometimes take a really long time, especially in big international airports.

The problem with that pack, however, was that it didn’t really work as a day-to-day bag. It was too big and didn’t have any real organization. One of its purported features is that the bag zipper opens entirely, so that you can access everything on command just like you can with a suitcase. Here’s the rub, though: as soon as you open it, everything just goes flying and it’s impossible to keep it all contained. That sort of feature is fine if you want to just toss the bag on the floor of your apartment for a few days but it really, badly sucks if you plan on using it for hauling groceries or carrying your clean clothes to work.

In the middle of 2016, when my car died, I was forced to get all my groceries by bike. I say forced, but it’s actually really fun because I enjoy riding a bike and only buying what I can fit on my back. [Which makes buying eggs a challenge, but I may have found a solution for that.] So the big travel pack sucks because it flops open. But I have other backpacks (of course I do). One of them is a little 25L daypack that has a pretty good internal organization system. I can keep all my pens in there, solidly. I can also store a camera, my phone charger, and a bunch of other daily-use nicknacks. It’s great for that reason, BUT IT’S ONLY 25L. That’s not very good for groceries. It’s also not very good if I want to travel with it because 25L is too small for anything more than a day or two of travel (I’ve tested that and can confirm).

My plan for 2016 was to find a backpack that fulfilled as many needs as possible, so that I could - possibly, hopefully - get rid of the excess backpacks. If I could somehow find a bag that was mid-sized (30-40L), with a bit of organization potential, and that was cool enough to use on a daily basis, I could turn two backpacks into one. I thought I found a bag like that in the summer time. It was actually a nice grey with some green highlights. It had one pocket that held quite a bit, it seemed to fit me nicely, and the price itself was reasonable. [Speaking of that car that died - the money I made from its sale basically covered a new backpack and a helmet.] I bought it. I tested it out for a few months, knowing if I wasn’t totally satisfied, I could return it to the store where I bought it. I am the guy that does that, and I am okay with that. If you implement a policy that generous, I will take full advantage. Not sorry about that.

I used that backpack for a solid couple of months. I didn’t quite like it as much as my 25L, so I kept using my 25L for a lot of things. I STILL HAD TWO BACKPACKS. I tried to trick myself into thinking that it was good enough and that I should keep it around as a result. A part of me didn’t want to admit that it wasn’t the right bag; it became a bit of an ego thing. I started to consider its actual problems though: 1. it was long and narrow. Although it held “35L,” the way that it did so seemed to create a lot of wasted space. Wider objects were not easily adaptable. 2. It had a zip closure, which meant that if it was tightly packed it was very hard to shut. Granted, it was semi-hemispherical, which made it great for access but it still sucked a little bit. 3. It had a weird back-panel thing, which made me feel like I couldn’t take it out everywhere I went. If I wanted to rest it on the ground, it would kind of flop over and just get kind of awkward. I’m not really into that.

Of course you know where this story is going: I got rid of that backpack and got my money back. I think I probably bought some running gear with the money, which was probably a more effective thing to spend my money on anyway. I begrudgingly went back to using the 25L (25L!!!).

Around the end of 2016, though, I decided that I needed to start looking again for something. I planned to move farther away from work, which meant I’d need to have some space available for hauling stuff on my way to and from work. I also just got jazzed up a bit by the social marketing regime of a particular bag company. With eyes wide open, I started to look into a variety of bags. I had one in mind (oh, did I ever), but I overthought my decision. I started analyzing every possible feature and dimension. I made spreadsheets in my head: this one is x L, that one comes with a rain cover, the other one has a nice suspension system. I didn’t think about Tanner in that moment, but I considered maybe what Tanner may have done. Or at least I considered what I would have done if i was thinking about Tanner’s backpack.

But it wasn’t that easy. Even though I had a feature set in mind, and easy access to the online purchasing platform, there was still something holding me back. If I bought this particular bag, I wouldn’t have the same easy access to a generous return policy. The bag was coming from afar, so I had to either buy it or not. It wasn’t worth my effort (or money) to vacillate. I’d put it in my shopping cart, and then at the last minute I would hit cancel. I ran the numbers quite a few times and for sure I could afford it. The money from my car was still technically out there in my bank account.

Eventually, after deciding to book a trip to Toronto, I decided I wanted to have a super dope backpack for that trip. I stopped considering all of the other possible bags that may have worked. I simply committed to this particular bag, knowing that it satisfied most of my requirements. It didn’t have the hemispherical opening that Tanner’s bag had. I don’t think it would have been my first pick as a result. But let me tell you: after using it for the last few months, I have come to realize how excellent (nothing is perfect) it is for me.

Here are some of it’s features: 1. it is adaptable. Despite it being listed as 40L, I can cinch it up and make it feel a lot smaller and more aero. It’s a top-loading bag with a draw string, though, so I can keep adding stuff even though it looks like it’s full. I’ve already pushed it to its maximum capacity in some ways, and it’s still worked out for me. 2. It looks pretty cool, to be honest. It has a lot of hidden pieces of webbing, which add to its utility and convenience. 3. I have yet to see the same bag in town. It’s rare; it’s unique. 4. It has a rain cover and a pretty loose fitting outside pocket. Both of those things will come in handy. 5. It’s small enough for the overhead bin, and large enough for almost two weeks of travel. 6. It’s wide enough that I can store wide things, but maintain a modularity mentality. If that’s complicated, it probably is. I like using smaller, internal bags.

I am actually amazed with myself. Once I realized what I wanted in a backpack, I just went for it, confidently (even if it took me a few weeks to finally decide). I made use of my internal checklist of what was important but I haven’t belaboured the decision. I’ve just used the backpack every day, hauling what I need to. Some days there is open space inside of the bag, but at least I can still carry everything I need to. I’d rather have that open space than a zipper that doesn’t quite close. A zipper that doesn’t close is stressful, because I often felt like it would break. I don’t want things to break. I want things to be strong and adaptable, and useful. When things have those features, my life is a lot more fun. I can focus on what I do with the backpack, rather than focusing on the backpack itself. Over time, the backpack just becomes a part of life. We will travel together. We will carry stuff together, like groceries and books and whatever else I pick up from the post office.

I think I’m still talking about backpacks.

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