Beaver
@Beaver_0x • 1,358 subscribers
The lecture is always free. Almost nobody watches it.
Videos
A small Coke at McDonald's costs $2.29. A large, more than double the size, costs $2.99 — seventy cents more for over 100% more soda. The actual syrup and cup cost McDonald's about a penny of that difference. MIT 14.01, Principles of Microeconomics, Lecture 2. Jonathan Gruber uses that pricing pattern to teach the single idea that quietly explains it: diminishing marginal utility. Your first sip of Coke on a hot day is worth a lot. Your fiftieth sip is worth almost nothing. You'll pay real money to go from zero Coke to some Coke. You won't pay nearly as much to go from some Coke to a lot of Coke — because you're not thirstier, you're just less thirsty than you were. McDonald's and Starbucks know this cold. Gruber walks through the actual math: a soda costs the company three or four cents to make. If they charge a penny more for the large and people still buy it, that's pure profit. Keep raising the large's price and, at some threshold, customers start downgrading back to the small — not because they can't afford it, but because the marginal cup of soda simply isn't worth that much to them anymore. Somewhere out there, an actual pricing team ran this exact experiment, penny by penny, until they found the number. He builds the whole framework from three assumptions most people have never seen written down, even though they use them every day: you always have an opinion between two options, your preferences don't contradict themselves in a loop, and more is always at least a little better than less. From just those three rules, he derives an entire mathematical map of what any person wants — the same tool an economist would use to model a soda purchase, a salary negotiation, or a decision between a better job in a boring city and a worse job somewhere you actually want to live. He calls it the "mom test": if you can't explain a concept from this lecture well enough to walk your non-economist mother through it, you don't actually understand it yet. MBA pricing consultants charge real money to explain why "upsize for 70 cents" works. It's the same idea a freshman economics class covers for free in the second week. The lecture is free. Noticing exactly where your own "worth it" turns into "not worth it" is the entire edge.
Beaver495,264 Aufrufe • vor 9 Tagen
this pure masterclass from Yale professor explains investment banking, breaking down decades of studying financial crises and showing why pure investment banking was fundamentally destroyed in 2008 when Lehman Brothers collapsed after a massive bank run on repo markets, giants like Goldman Sachs and Morgan Stanley were forced to give up their pure investment banking status just to survive this is the tape of his famous Yale lecture breaking down the brutal reality of Wall Street: • 03:46 - how investment banking differs from commercial banking • 12:45 - the secret principles of Goldman Sachs that built an empire • 17:19 - how Glass-Steagall split Wall Street in 1933 • 28:06 - how the shadow banking repo run brought down Lehman Brothers • 35:46 - what a 100 hour work week looks like for a Wall Street analyst • 53:56 - transitioning from investment banking to Silicon Valley giant Facebook bookmark & watch this rare lecture for free
Beaver11,697 Aufrufe • vor 5 Tagen
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