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I wonder about this often. I contend that we are getting better at extracting money from people. Is there some sort of line we will cross at which point the maj
by ragona 7y ago
I wonder about this often. I contend that we are getting better at extracting money from people. Is there some sort of line we will cross at which point the majority of people are psychologically unprepared to resist spending their money in a way that causes them financial harm?
We understand that friction causes consumers to consider their purchase more carefully, so we've worked hard to lower friction, and this has a statistically noticeable increase in users who complete their purchase.
I'm genuinely curious whether we'll eventually reach some sort of threshold where the bulk of the economy is simply driven by overriding our better instincts.
- fwip 7y ago> the bulk of the economy is simply driven by overriding our better instincts Not to take away from your point, but you could probably argue that advertising pushed us past that point decades ago.
- ragona 7y agoI completely agree! I’m not sure how to define the horizon, so I’m not sure whether we’ve passed it. It’s not clear to me exactly how effective advertising is, and its effectiveness also clearly oscillates over time and between demographics!
- njarboe 7y agoAnd easy credit makes it much worse when you can go into debt to buy something you don't need or really want.