Comments URL: https://news.ycombinator.com/item?id=39827331

Points: 1

# Comments: 0

I worry about apps / video games for children also stunting imagination. Yes, in a game like Minecraft you can build anything out of blocks, or with Photoshop draw anything. However, the entire 'universe of outcomes' is inherently bound to the mind(s) of the developers, compared with a bored kid who's possibilities are limited only by their own imagination. Children are therefore pressed to stretch and practice creativity. Its not a perfect analogy, but I'm reminded of the theme in the Matrix movies of bounded outcomes.

I personally think creativity through raw boredom - rather than directed distraction (especially through digital devices)- is essential to mental development.

The service the networks provide is a way for all participants (banks, people, businesses, etc) to trust one another, as well as a healthy rules-based system to address disputes. Getting this working is not trivial.

[0] https://wallethub.com/answers/cc/is-visa-or-mastercard-bette...

Cap One and Discover both focus on the nearprime / subprime / thin credit / credit invisible segments (think people who have bad credit, expats, students, etc.). Cap One is excellent in their analytics on understanding people, and likely sees Discover as an opportunity to acquire new customers + improve on Discover's operations.

The network side of Discover's business is intriguing. Its nowhere near as sophisticated as Visa/Mastercard, but it is something! The idea may be to turn into an Amex focused on everything but prime consumers, and use the improved economics (from owning both sides of the transaction) to give rewards (at least something) to cardholders who don't normally see them. I doubt their intention is to build a serious competitor to the card networks.

Reflecting on the Phalanx brings mixed emotion, given that the US Navy avoided paying patents on his designs and buried him in legal fees so that he never saw a dime (at least that's what I've been told). He was older at the time, and this absolutely took several years off his life. That said, I know he'd be proud to see his ideas still being relevant today, from implementation to video games.

https://podcasts.apple.com/us/podcast/the-chernobyl-podcast/...

Comments URL: https://news.ycombinator.com/item?id=38969662

Points: 2

# Comments: 2

1. https://subscriber.politicopro.com/article/2023/09/senator-t...

that said, I doubt airlines will ever fully relinquish control over their loyalty programs - they are too critical to the core business and offer a 'secret sauce' of differentiation to what is an otherwise commoditized product (i.e. flying from point A to B).

To me, I feel as though that behavioral addiction is completely disregarded by the medical community. If someone is lighting up every night / having a drink and want to stop, they need an alternative way of closing out the day. Otherwise of course it'll be difficult.

however, the payment itself is almost besides the point. the tricky part is the scheme / governance surrounding payments. who is liable for what, preventing fraud, etc. these large payment actors + the middlemen are more about fostering trust networks than moving the actual dollars and cents.

fraud in P2P payment networks (e.g. Zelle) is already a huge issue because a lack of a governing actor like a card network.[0] a different question is would the government ever provide this mediating role / lay out guidelines? would we want it to?

https://www.nytimes.com/2022/03/06/business/payments-fraud-z...

nearly all banks in the US should support FedNow within the next few years, if not much sooner, as it is seen as tablestakes for most bankers.