MSD1976

6 ms·

1.
by MSD1976 3y ago
Costco stock dropped 10% when AMZN bought Whole Foods: https://money.com/amazon-whole-foods-costco-wal-mart/
2.
by MSD1976 7y ago
Just a hobby so not really. I have some half-related product/service ideas but nothing concrete at the moment.
3.
by MSD1976 7y ago
No myth. It was the first CARD and line of credit that could be used at multiple merchants. Prior to that, you had a line of credit with each individual merchant.
4.
by MSD1976 7y ago
Don’t know. Where and how do you draw the line?
5.
by MSD1976 7y ago
George Washington
6.
by MSD1976 7y ago
I'm sorry but why is what Visa does considered "pure rent extraction" versus any other for-profit business? Merchants may often gripe about the fees they're paying per transaction, but this ignores the tremendous benefit
7.
by MSD1976 7y ago
Why should Visa be treated as a utility but not a company like google for example?
8.
by MSD1976 7y ago
Thanks, I appreciate it
9.
by MSD1976 7y ago
Oddly I didn't like the book very much. Personally thought there were better books out there to understand the history.
10.
by MSD1976 7y ago
Sorry what's the error? Started by BankAmericard by Bank of America in CA only. They then franchised it to other banks in neighboring states, and eventually international banks (I believe under the BankAmericard brand, or under the oth
11.
by MSD1976 7y ago
You're definitely right. Different countries have varying degrees of credit vs debit penetration. US skews more credit.
12.
by MSD1976 7y ago
Yes Mastercard was in response to the success of the BankAmericard. Banks were much more regional in the 1950s-1960s because of a federal law that prevented them from operating outside of their home state. Bank of America was the largest ba
13.
by MSD1976 7y ago
Also, Visa was originally run as a non-profit until 2007, and was co-owned by all its member banks.
14.
by MSD1976 7y ago
Don't under-appreciate the benefits of having a portable, globally-ubiquitous, safe, instant method of consumer credit that is accepted by millions of merchants. Imagine it's 1920 and you want to buy a sewing machine, which is 3 m
15.
by MSD1976 7y ago
Thank you, glad to hear you enjoy it
16.
by MSD1976 7y ago
The former
17.
by MSD1976 7y ago
As far as I know, most of these payment networks don't extend credit to customers in the same way that Visa's network enables. Consumer credit is a very powerful force that is often under-appreciated, and that benefits all parties
18.
An Overview of Visa's Business Model(minesafetydisclosures.com)
1 points by MSD1976 7y ago|0 comments
19.
by MSD1976 7y ago
That is correct
20.
by MSD1976 7y ago
Glad you like it. No goal really, just a hobby to keep me busy.
21.
by MSD1976 7y ago
Thanks, but I prefer to stay anonymous for now
22.
by MSD1976 7y ago
The site isn't about mine safety disclosures—it's just a name. A quirky requirement that came out of Dodd-Frank is that ALL publicly traded companies are required to make a disclosure about mine safety, regardless of whether or no
23.
by MSD1976 7y ago
I wanted to keep it very high-level so that a 10 year old could understand so unfortunately some things had to get left out; like Dee. I did link to his book as part of the further reading/resources at the bottom of the writeup though.
24.
by MSD1976 8y ago
Hey - I wrote this ( http://minesafetydisclosures.com/blog/2018/6/18/costco )