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Except someone else sees the machine taking in cash, and says to the the barber “I’ll give you a 20% cut to swap out to my machine”. When the economics wake up,
by ed25519FUUU 6y ago
Except someone else sees the machine taking in cash, and says to the the barber “I’ll give you a 20% cut to swap out to my machine”. When the economics wake up, it’s a race to zero.
- bluGill 6y agoRaces to zero never reach zero. Eventually someone says it isn't worth it.
- vmurthy 6y agoGiven that the barber has limited resources and time, perhaps he might think twice about constantly changing his partners for a couple of hundred dollars more per change,no? Remember, there are switching costs for these sort of things. Personally ,I tend to weigh the (hard) benefits of cash and the (soft) costs of switching things before making a decision.