Most companies don’t have the luxury of focusing exclusively on innovation. They have to innovate while stamping out zillions of widgets or processing billions of transactions.
Last year, Congress passed a law that directs the Federal Reserve to set limits on debit card swipe fees that are reasonable and proportional to the cost of processing those transactions. Like most Americans, I had no idea that swipe fees charged to American businesses are the highest in the world.
In our judgment of human transactions, the law of optics is reversed; we see the most indistinctly the objects which are close around us.
Bitcoin is mostly about anonymous transactions, and I don’t think over time that’s a good way to go. I’m a huge believe in digital currency… but doing it on an anonymous basis I think that leads to some abuses, so I’m not involved in Bitcoin.
The landscape of the Net has changed; that cyberfrontier of the past has become a teeming city of people, transactions, and businesses.
India did not innovate with the ATMs. But when we brought ATMs into India and made the machines talk in 15 regional languages to the people in rural India, we got millions of transactions on the ATM.
The first thing that is not obvious to people is global warming is a less-than-1% effect. It’s like being shortchanged at the bank by a penny every dollar. Over a long period of time with lots of transactions, that piles up.
Individuals who are out there to make transactions with pay-per-tweets, it’s a turnoff for their fans, rightfully so.
If you look at the first commercial transactions on the Internet, few of the early companies necessarily survived intact, but the ideas they invented became the industry.
Many use Rs 500 and Rs 1,000 notes for daily transactions like going to theatres, malls, and trading purpose. People like these are unnecessarily put to inconvenience.
Yes, I am 100% anarchist. Anarchy, to me, is a belief that all transactions, all activity, should be voluntary. It is a peaceful philosophy of not forcing anyone to do anything and not allowing anyone else to force you to do anything.
When you look at the government, when the government collects a buck, it’s not free. They have to spend resources, the IRS, audits, all this sort of crap, to collect the dollar. I’m not assuming any Laffer curve effect here at all. There are just transactions costs of collecting that money.
If you are a small investor, do take the basic precaution of going to a registered broker/sub-broker and getting receipts for your transactions. Or simply shrug you losses away as you would if you lost your shirt at a casino.
I won’t stand idly by watching Janet Yellen radically transform the IRS into a leftist, Praetorian Guard that spies on Americans’ private financial transactions.
The mobile business in particular is something we must take seriously. I see tremendous prospects for all those transactions that can be handled on mobile phones.
Bitcoin will make a dent in society when more normal transactions occur that would have occurred with dollars or credit card.
Hardest of all for Europeans to negotiate are traditional African religions, whose transactions with unseen powers are central to the running of life in many areas, the main weapon in the struggle against the forces of evil.
Banks can send big corporate payments through existing channels or send a small payment through Ripple. They don’t have to rip out existing infrastructure; they can use Ripple to make the transactions more profitable or more efficient.
We believe that rural India is going to be the next driver of growth. You cannot make money overnight there, as you have to set up infrastructure there; the value of transactions is lower – you need a few years before you can really make all those businesses profitable.
On private transactions, I’ll just go very quickly now, a major difference between the United States and Euroland is that in Europe banks are much more important in financial transactions than in the United States.
Because the kind of nonfiction I write has a plot, the events and transactions that make up a life, nonfiction offers me a break from plotting.
You say he’s childish, but he’s very professional about business transactions.
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