Hello!
Continuing the theme from last blog I would like to talk to you about another non-fiction book. This time instead of innovation (highly recommend you check out my last blog) I will be talking about voltage. Now the voltage I am talking about has nothing to do with electricity but business instead. Voltage is the ability for an idea to scale. Voltage is used in an argument by John A. List the author that says for any business to have an impact on the world it must have "high voltage". John talks about his argument in his recent book The Voltage Effect which he uses his experience from working at Uber and then Lyft as chief economist and helping them scale their ideas to bolster success. The Voltage Effect talks about John's experiences in both companies and gives examples of voltage. One good example that doesn't give to much away about the book is about the company Lyft. Lyft when John was chief economist was working on releasing a subscription service for the app that would provide benefits to customers, such as discounts and amenities, in exchange for a monthly fee. Deciding how much to charge monthly the is more than just choosing a number. Thought goes into who will purchase this subscription and how much does Lyft need to charge in order to make money while also making the customer feel like they are benefiting as well. So if you want to learn more about how these big companies take more money from us while making us feel good I would recommend reading The Voltage Effect!
Fun Fact: John was an All-American Golfer when he went to college (Translation for non sports enthusiasts: He was very good at golf)
-Jameson
This seems to be an interesting book for an Uber/ Lyft driver to talk about economics! I might read this!
ReplyDeleteHe's actually was Chief Economist for Lyft and Uber before he worked in government as a Senior Economist on the President's Council of Economic Advisers from 2002 to 2003.
DeleteBooks about business often carry a deeper lesson that goes beyond the idea they're teaching. After all, an economic transaction is a type of relationship between people, in which there's a lot to be understood. Thanks for writing, great post!
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