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Shaka, when the walls fell!
That thing has a name!
useful, interesting, handy concepts. Helping with hypocognition (https://blogs.scientificamerican.com/observations/unknown-unknowns-the-problem-of-hypocognition/)

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I remember the guy who would bring our jackets back to the dressing room. Every time he did, someone would yell "Kayfabe." ... Then one night, the guy decided to stand up for himself and told the whole dressing room: "I don't mind the yelling, but I want to let you know that my name is not Kayfabe.

Kayfabe - Wikipedia

Added by Francis Tseng
Updated 20 days ago

The idea behind the concept of cream skimming in business is that the "cream" - high value or low-cost customers, who are more profitable to serve - would be captured by some suppliers (typically by charging less than the previous higher prices, but still making a profit), leaving the more

Cream skimming - Wikipedia

Added by Francis Tseng
Updated a month ago

The race to the bottom is a socio-economic phrase which is used to describe government deregulation of the business environment, or reduction in tax rates, in order to attract or retain economic activity in their jurisdictions. An outcome of globalization and free trade, the phenomenon may occur when competition increases between geographic areas over a particular sector of trade and production.

Race to the bottom - Wikipedia

Added by Francis Tseng
Updated a month ago

The razor and blades business model is a business model wherein one item is sold at a low price (or given away for free) in order to increase sales of a complementary good, such as consumable supplies. For example, inkjet printers require ink cartridges, and game consoles require accessories and software.

Razor and blades model - Wikipedia

Added by Francis Tseng
Updated a month ago

"Assume a can opener" is a catchphrase used to mock economists and other theorists who base their conclusions on impractical or unlikely assumptions. The phrase "takes aim at how economists use assumptions to simplify-and sometimes oversimplify-the problems they face". It may be used to express the writer's disdain for "the propensity of modern economic theory for unjustified and oversimplified assumptions."

Assume a can opener - Wikipedia

Added by Francis Tseng
Updated a month ago

A spherical cow is a humorous metaphor for highly simplified scientific models of complex real life phenomena. The implication is that theoretical physicists will often reduce a problem to the simplest form they can imagine in order to make calculations more feasible, even though such simplification may hinder the model's application to reality.

Spherical cow - Wikipedia

Added by Francis Tseng
Updated a month ago

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