Saturday, February 20, 2010
Predictably Irrational is a great read siminoff: My first business was building out telecom networks in 3rd world countries which I ended up merging with Nobel.  One of my largest projects was in the Democratic Republic of Congo in the city of Kinshasa.  During the time I was there 2000-2001 poverty and starvation were out of control, the country was fully at war, World War Africa. However one thing always struck me as incredible, there were three products basically unaffected by these extreme conditions, make-up, cell phones and beer.  All three are wants and not needs. In some ways it is sad to see a person who is obviously malnourished talking on a cell phone at $0.30 a minute vs. buying some food.  From a business side these things are important to understand as they do effect markets, a interesting book around some of these principals would be Predictably Irrational. via hiten via One Trick Pony
Predictably Irrational is a great read

siminoff:

My first business was building out telecom networks in 3rd world countries which I ended up merging with Nobel.  One of my largest projects was in the Democratic Republic of Congo in the city of Kinshasa.  During the time I was there 2000-2001 poverty and starvation were out of control, the country was fully at war, World War Africa.

However one thing always struck me as incredible, there were three products basically unaffected by these extreme conditions, make-up, cell phones and beer.  All three are wants and not needs.

In some ways it is sad to see a person who is obviously malnourished talking on a cell phone at $0.30 a minute vs. buying some food.  From a business side these things are important to understand as they do effect markets, a interesting book around some of these principals would be Predictably Irrational.

via hiten via One Trick Pony

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