21–30 of 173 posts
Whatever replaces VC-istan and generates the next wave of great businesses is going to be built by guys like this. Also, it'll probably happen in the Midwest. Chicago, Austin, Madison, and Minneapolis are among the cities to watch.
Earlier quoted context omitted.
Yeah, processing credit cards is an absolute pain for vendors. American Express are probably the worst for vendors.
I'm an American Express cardholder and spend several hundred thousand dollars a year. If you're a small business, startup, someone I like, whatever, I go out of my way to pay you money with Dwolla or a debit card because of the fees. I'll even overnight a check if its a significant amount and I trust you.
This is awesome, but not creating a corporate structure at all and just letting who does and gets what go organically is a really bad idea. It's nice that it's worked for them so far, but if they continue to succeed -- and I hope they do, I love what they've done -- they're very likely to find out that money does matter and does change things.
How does that compare to the amount of money Minecraft has made?
Whatever replaces VC-istan and generates the next wave of great businesses is going to be built by guys like this. Also, it'll probably happen in the Midwest. Chicago, Austin, Madison, and Minneapolis are among the cities to watch.
Earlier quoted context omitted.
I'm an American Express cardholder and spend several hundred thousand dollars a year. If you're a small business, startup, someone I like, whatever, I go out of my way to pay you money with Dwolla or a debit card because of the fees. I'll even overnight a check if its a significant amount and I trust you.
From someone not from the US; so why do you have an American Express card?
Earlier quoted context omitted.
I'm an American Express cardholder and spend several hundred thousand dollars a year. If you're a small business, startup, someone I like, whatever, I go out of my way to pay you money with Dwolla or a debit card because of the fees. I'll even overnight a check if its a significant amount and I trust you.
From someone not from the US; so why do you have an American Express card?
Earlier quoted context omitted.
I'm an American Express cardholder and spend several hundred thousand dollars a year. If you're a small business, startup, someone I like, whatever, I go out of my way to pay you money with Dwolla or a debit card because of the fees. I'll even overnight a check if its a significant amount and I trust you.
From someone not from the US; so why do you have an American Express card?
For example, a visa/mastercard might be able to kick back 1~2% for cashback. American Express might be able to go 2~3%.
This is also why a lot of places don't accept Amex, the fees are higher and from the vendor's perspective they offer nothing in return.
PS - The whole credit card system is too expensive, and inefficient, but that's what happens when three or four companies run the whole game.
Earlier quoted context omitted.
I'm an American Express cardholder and spend several hundred thousand dollars a year. If you're a small business, startup, someone I like, whatever, I go out of my way to pay you money with Dwolla or a debit card because of the fees. I'll even overnight a check if its a significant amount and I trust you.
From someone not from the US; so why do you have an American Express card?
It was not uncommon for me to receive several thousand dollars of Home Depot and other gift cards per year.