Finally, some half decent weather!!
The $144,146,165 Button
The average New York City taxi cab driver makes $90,747 in revenue per year. There are roughly 13,267 cabs in the city. In 2007, NYC forced cab drivers to begin taking credit cards, which involved installing a touch screen system for payment.
During payment, the user is presented with three default buttons for tipping: 20%, 25%, and 30%. When cabs were cash only, the average tip was roughly 10%. After the introduction of this system, the tip percentage jumped to 22%.
Those three buttons resulted in $144,146,165 of additional tips. Per year. Those are some very valuable buttons.
Wow…
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(Reblogged from brycedotvc)
The success rate of a first-time venture-backed entrepreneur is about 18%. If that entrepreneur fails and tries again with another company, their success rate only improves to 20%. Not much. BUT, if that entrepreneur succeeds in their first company, their success rate for their second venture goes up to 30% — over a 65% improvement in expected outcome.
Joe (via brycedotvc)
Who writes this crap? “It looks like nothing you’ve ever seen.”
Yes it does. A MacBook Air. The computer you ripped the design from, let’s be serious.
Wise, wise words.
This is fantastic. It says a lot about how we perceive things is perhaps more important than how things actually are.
Credit goes to David Karp’s Blog here and to the original article on PopSci UK here.
Every time I watch BBC’s Top Gear I wonder who underwrites their insurance policies… some of the challenges and stunts they do are unbelievable.
This. Is good design. It has nothing to do with how pretty the app looks.
I love stuff like this. Simple changes make a word of difference to the end-user.
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So if you are doing the startup game for money, and lots of it, you are in for a plate full of frustration. It must be for more than that. It must be for the love of the game, a passion for what you are bringing to market, and for the chance that you will hit paydirt. But it is a lot more likely that you will watch someone else hit the big payday than hitting it yourself. And that sucks.
Great article from Fred Wilson you can find here.
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(Reblogged from dpstyles)
Companies die from not being eaten by their competitors, but from self-inflicted wounds. They don’t have discipline. Their best people get frustrated. They chase all these shiny objects that aren’t core to the business. They become complacent because of early success.
Drew Houston, Dropbox (via sequoiacapital)
I put this quote on a slide at today’s foursquare company meeting. This is the last thing any startup founder wants to be associated with. And I feel that being self-aware, honest and transparent as a company, with everyone in the company - and letting that fuel an open dialog about what is and is not working within the company - is the best way to avoid this fate.
(via dpstyles)
Wise words.
(Source: The Wall Street Journal)
