Launch HN: Yotta Savings (YC S20) – Behavioral psychology to help people save

Post by adammoelis » Thu, Jul 09, 2020, 3:29 PM UTC

TheTaytay wrote: post #48

I'm really glad to see someone doing this in the US - kudos. I remember being so disappointed to hear in the podcast that this approach was illegal in the US, and I didn't realized that changed back in 2015! I think this approach to incentivizing savings is a net good for the reasons you stated. Congrats on the launch. I wish you success!

Post by icedchai » Thu, Jul 09, 2020, 3:34 PM UTC

Post by adammoelis » Thu, Jul 09, 2020, 3:35 PM UTC

icedchai wrote: post #64

Can I transfer my deposit out, then transfer it back in to get additional tickets?

Post by doyleb » Thu, Jul 09, 2020, 3:38 PM UTC

zomglings wrote: post #61

This is an awesome idea, and I intend to try it out. I am a mathematician, and at the same time I can't resist the temptation to purchase the occasional lottery ticket. What most people miss about the lottery is that there can be utility to variance - the opposite of ennui. Have you guys read The Lottery in Babylon https://en.wikipedia.org/wiki/The_Lottery_in_Babylon

Post by zomglings » Thu, Jul 09, 2020, 3:39 PM UTC

Jommi wrote: post #67

zomglings wrote: post #61

This is an awesome idea, and I intend to try it out. I am a mathematician, and at the same time I can't resist the temptation to purchase the occasional lottery ticket. What most people miss about the lottery is that there can be utility to variance - the opposite of ennui. Have you guys read The Lottery in Babylon https://en.wikipedia.org/wiki/The_Lottery_in_Babylon

As a mathetmatician how can you ever justify participating in a lottery where there is a possibility of no-winners or shared winners. It just destroys any hope of any positive EV.