> and it does not require anything close to that to maintain their network.
If it's so easy to disrupt visa/mastercard payment network, they wouldn't be able to charge this much. Payment is a highly competitive business. We witnessed so many payment companies went under or were bought out, but these two stay for years and are still profitable.
The truth is their moat is considered very durable and hard to build. A global n banks to n banks payment network is not as simple as how people thought.
Visa and Mastercard do not own the internet cables or the wavelengths. Anybody is free to compete, and that's why they have many competitors. It is very common for businesses to accept a variety of unrelated payment methods. There is no monopoly here.
In my experience it's kinda different. The serious issue that raised by higher up usually means more scope, visibility, bonuses and potential bonuses. Teams usually fights to get the important issues(whichever the higher thinks that's important) as their team's work. The drawback is that it's very possible that multiple teams are fighting for the same pie and resulting in duplicated work.
In the end if there are enough incentives(usually money) people would work on those.
Exactly. 38% is way too high. Are we sure about that? Statistics is not some required learning in school. Even those who learned (me for example) cannot confidently claim what it actually means. I would say most of the people don't have a clue what statistics mean
Here in Norway, statistics has been introduced in 9th and 10th grade (15 and 16 year olds). Here[1] is what a 9th grader is supposed to know at the end of the school year. Some key points translated to English:
- Interpret and critically evaluate statistical representations from the media and the local community.
- Calculate measures of central tendency and measures of dispersion in custom and real datasets, and use the results to describe the data.
- Calculate and evaluate probability in statistics and games.
This came after my time, and our PIRSA score aren't the best so perhaps practice is lacking.
We are just as bad or worse with charts. I don’t know whether finding Tufte when I was still relatively young saved or harmed my sanity. Maybe both. Everyone’s charts are awful, including at least half of mine, and I was trying to be objective. Many people are just trying to prove a theory they had before the chart was made.
Not exactly an issue though. Because the following Dynasty Zhou was portrayed as a protagonist, which rebelled against Shang and abolished human sacrifice and established the right Chinese civilization. And all the following dynasties are claiming that Zhou was the good old days and they are following Zhou's tradition.
This. I am late bloomer in humanity subjects. I was a typical stem students that didn't really understand any of those classes.
It was not until working after finishing Universities, I started to get back to understand those topics. It also became much more enjoyable once I had the contexts. And learning the contexts is a actually a bigger part of the fun
Because investing conservatively is not gambling. Your definition of gambling is weirdly associated of how money is made, instead of risk making. Nobody uses this word in this way. Gambling is about of risk. It's not about how you are making the money
For example, it's also possible to be actively taking part in the money making activity while taking unnecessary risk. A person can run his own company but recklessly making bets on the loan or spending decisions. So this is the other side of the story where they are gambling and they are actively working with their money.
That's the point. Most financial investment is really putting money into something higher risk to get a (hopefully) higher return. Most "investing conservatively" is just being a bit more wary as to what risks are acceptable.
> That's the point. Most financial investment is really putting money into something higher risk to get a (hopefully) higher return.
It's about risk adjusted returns, not higher returns. If you are not considering the risk assessment you are objectively wrong. Take my previous example, how is actively working with you money by taking higher risk less gambling, than passively investing for example an all weather portfolio which is designed to preserve the capital? An all weather portfolio is firstly proposed by Ray Dalio to be as conservative as possible to hedge against all kind of risks while hopefully get some gain.
> Most "investing conservatively" is just being a bit more wary as to what risks are acceptable.
That's objectively wrong. For example lots of etf is designed to reduce risk by diversifying the investment. Just take your own just put money in the bank example. Suppose you do not live in stable country US/EU, and your country is having high inflation. How is just putting money in the bank with your country's depreciating currency less risky than let's say you invest in a global portfolio or an all weather portfolio? In this case, by not managing your risk profile, you are taking more risk.
I am only giving out 1 example to show that `Most financial investment is really putting money into something higher` is objectively wrong. It's actually the opposite if you look into how portfolio managing works. Majority of the funds managed for the Sovereign state or the rich are about hedging against the risks, it's the opposite of gambling.
Do you think it's possible to bomb China's AI datacenters? They are already here, and they are progressing AI at their will. What will others do about it?
It is possible for US to bomb anything. Just the retaliation could be huge.
Would you had said the same thing if a country like was developing and testing deadly virus on live population. I think in 5 years, it is possible that the AI will become that topic(if we assume AI becomes good and start hacking and controlling everything).
If it's so easy to disrupt visa/mastercard payment network, they wouldn't be able to charge this much. Payment is a highly competitive business. We witnessed so many payment companies went under or were bought out, but these two stay for years and are still profitable.
The truth is their moat is considered very durable and hard to build. A global n banks to n banks payment network is not as simple as how people thought.
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