Here is the line-up for the Monty Python World Cup soccer match between German and Greek philosophers: And the actual match: With Greece’s odds 125/1 for winning World Cup 2014 and Germany’s 4/1, it is highly unlikely that they will oppose each other this…
Why Didn't The Supreme Court Change How We Watch TV?
We could call Uber and Aereo “loophole startups.” While Uber provides rides and Aereo delivers TV signals, both have been entering established markets through a regulatory loophole. Uber’s loophole was their app. Because customers were not “hailing” their ride service on the street,…
Do Real Entrepreneurs Have to be Rich?
Because startups tend to be small, do not focus on innovation nor growth, they are a less accurate measure of entrepreneurship than self-made billionaires.
Why Tesla's Totally Illogical Strategy Might Work
Our Wednesday environment focus Elon Musk just flipped entrepreneurial logic upside down. Rather than building a patent moat around his technology, he announced it would be available to anyone using it “in good faith.” That means Tesla’s 203 patents will be accessible to all…
Note to Self… Entrepreneurial Activity Shapes Our World.
Asked about how much market research he did for the iPad, Steve Jobs said, “None. It’s not the consumer’s job to know that they want.” Art Fry could have said the same thing. His story is a good one… But first, where are…
What Barbie Tells Us About Women
Our Monday gender issue focus Equipped with a smart phone, a tablet and her distinctively shapely proportions, pink-clad Entrepreneur Barbie just arrived. Because Barbie reflects what has become culturally acceptable, I guess we should applaud her newest incarnation. In 1959, Barbie…
Why Mickey Mouse Worries About Monopsonies
No, we don’t mean monopoly. A monopoly is the single seller in a large or small geographic area. Monopsony, by contrast, indicates there is a single buyer. Where are we going? Whereas a monopoly has the power to charge too high a price, the amount…
If Milk is Good For Us, Why Are We Drinking Less?
Do you remember those milk mustaches? We first heard “Got Milk?” in 1993. I loved the campaign because, in class, it was the ideal way to illustrate a market that resembled perfect competition. Since firms are small and their products…
The Reason That Recession Dates Matter
Asked to define a recession, you can give the mechanical answer. It is 2 or more adjacent quarters of a real GDP decline. So, if Q1 GDP grows by 3%, Q2 by 2% and then Q3 by 1%, is that…
What We Should Know About Monetary Policy
Having heard Janet Yellen’s press conference yesterday, I learned that the Federal Reserve expects that the economy will improve, their bond buying will diminish and, during the foreseeable future, interest rates will start to ascend. And yes, she spoke about unemployment and…
