January 4, 2012

Everything is Free. Every Industry is Dead.

You're sitting in an office at a company in an industry that was created before the technological revolution.

We write press releases the way we did 40 years ago. We teach children the same way we did 40 years ago.

And in our yearly meeting we discuss tweaks. We discuss 10% budget cuts across the board.

When what we need to do is start over.

January 3, 2012

I Want to Start a Gift Card Company

This Christmas, I received a bunch of gift cards.

Since then, I've come close to accidentally throwing most of them already. In fact, as far as I know, I've probably lost one or two already. They're just sitting there with the cards and empty boxes, and I forget.

And I can't be the only one.

So, what if I started a gift card company that sold gift cards at a loss? For instance, I sell $50 gift cards for $45. People are thrilled, thinking they're getting an amazing deal. And they are - the ones who use them.

But when you account for those who lose, discard or never use them?

I could price-corner the gift card market, and still come out way ahead?