A trade war is like a Prisoner's Dilemma game gone wrong. (1) Trust between both sides has eroded. (2) They cannot communicate effectively. (3) They decide to forego cooperation and defect. (4) And, by foregoing cooperation both sides are hurt. In a prisoner's dilemma game, two players are separated (can't communicate) and given two choices: … Continue reading Trade War as Prisoner’s Dilemma
Assets: Atoms versus Electrons
In this post I focus on the assets of a business, stuff that is owned by the business and is fundamental to the business model. Human capital is fundamental as well, but I will leave that for another day. Note: the impetus of this post was a conversation with Elliott and Michael on China Tech … Continue reading Assets: Atoms versus Electrons
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