redesign | journalism: Why the Dow Jones Industrial Average is a terrible metric

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It’s the number that we hear about the most when journalists talk about the economy: the Dow. What is the Dow exactly? It’s a basket of 30 stocks. The full name, which we rarely hear, is the Dow Jones Industrial Average. It reflects 30 companies, which are supposed to be representative of the economy.

Today, these 30 stocks are hardly representative of the economy. Only recently was Apple added to the Dow. Apple is so big that its market capitalization exceeds that of the eight lowest value Dow companies combined. Service businesses have become so big that only eight of the stocks in the Dow Jones Industrial Average are actually industrial companies.

It’s great marketing for Dow Jones & Co. (now owned by News Corp., which also owns Fox News and the Wall Street Journal).

A better, broader metric of the economy is the S&P 500.

There’s another, more important, reason why journalists should focus on Standard & Poor’s 500: Its performance directly affects the well-being of many Americans. A lot of us invest (through retirement plans) in index funds that seek to replicate the performance of the S&P 500.

The Dow gets more glory, but the S&P 500 is what matters.
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Why the American Express mobile app is one of the best in fintech

I love the American Express mobile app for one big reason: it turns boring credit card data into visual, actionable information.

Whereas many apps just show you your transactions in a manner not much different from your monthly statement, AmEx lets you analyze transactions.IMG_0006

You can see some of the tools above. And it’s not just pretty charts. Continue reading “Why the American Express mobile app is one of the best in fintech”

A human-centric approach to design is what makes this page great

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Easy passwords

There are a couple of things that I really like about this site.

The first is the use of easy, human readable passwords. Where some companies use complex order numbers, sometimes 20 or more random alphanumeric characters, this site uses words that will stick in your head. What would you rather say to a customer service agent: miffed-wispy-crab or JKS421DA9oC?

Continue reading “A human-centric approach to design is what makes this page great”

Facebook and peer-to-peer payments

Facebook’s upcoming move into peer-to-peer payments brings it into a crowded field. The most obvious competitors are Square Cash, PayPal’s Venmo and PayPal itself. There are also competitors on the bank side, including Popmoney and Chase QuickPay.

Clearly Facebook is in a strong position to dominate the space. But with a near universal user base in the United States, that could be said about any space Facebook enters.

Facebook Payments will leverage the Messenger product and let people send money back-and-forth while messaging each other. Instead of using ACH, the system uses debit cards. (Just like Square Cash.)

Some of the big questions are: Continue reading “Facebook and peer-to-peer payments”

redesign | transport: Brilliant move by metromile to offer special Uber insurance

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The insurance industry has been slow in adapting to the new economy. Companies like Uber and Airbnb challenge the traditional delineations in insurance: personal vs. business use.

Personal insurance is designed to cover non-commercial use. If you, your friends and family are the only ones using your property, the risk is lower than if a bunch of strangers come and go. If you’re driving your car alone, the risk is lower than if you’re transporting a passenger. As a result, personal lines are cheaper.

Continue reading “redesign | transport: Brilliant move by metromile to offer special Uber insurance”

redesign | travel: How would you improve this St. Regis hotel bath collection?

The big issue here is that all three bottles look alike. There is shampoo, conditioner and body wash. But it’s not easy to tell which is which without picking up the small, likely wet bottles.

That’s bad enough for the typical person. But for people like me, who are blind as a bat, it is a serious issue. Without my glasses or contacts — the standard when I’m taking a shower — I couldn’t read the text until the bottle was within 5″ of my eyes.

Unfortunately, this is the status quo at hotels. They all have tiny bottles that are impossible to read. Some hotels have their amenities in clear plastic bottles, which makes it easier to distinguish the blue shampoo from the white conditioner. But you still have to figure out which is which.

My ideal solution has two parts:

  • Large letters on each bottle. S = Shampoo, B = Body wash, C= Conditioner.
  • Different shaped bottles. For example, circle for shampoo, square for conditioner, triangle for the body wash.

Changing the labels is relatively easy. Changing the shape of the bottles is more complicated.

Because chains use standardized toiletries, learning one would help you at multiple hotels. (On the flip side, it makes the roll out process longer.)

This isn’t just a usability issue; it could be an issue under the Americans with Disabilities Act.

This quiz was so easy that a lot of people got the correct answer:

https://twitter.com/tim_poor/status/560108962696425472

Which is why it’s odd that hoteliers don’t seem to see the problem.

But at least St. Regis hotels have a sense of humor. They responded to my question:

Why Google’s MVNO is unlikely to make a huge impact


The Information reported that Google will be launching an MVNO, reselling wireless service from the Sprint and T-Mobile networks. This has little chance of making a significant impact on the U.S. wireless market.

What is an MVNO?

To understand what Google is doing, it’s important to understand what an MVNO is. The acronym stands for Mobile Virtual Network Operator. These are companies that buy network service from companies like AT&T, T-Mobile, Sprint and Verizon at wholesale prices and then resell them to consumers at retail prices. Often, these prices are much lower for low-usage customers than the big brand names. The MVNO handles pricing, packaging, marketing, billing and customer service. (This is a simplification.)

Why do MVNOs exist? Continue reading “Why Google’s MVNO is unlikely to make a huge impact”

redesign | apple: What’s wrong with how Siri is responding to a request to send a message?

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The big issue here is that Siri says “I’ll send your message.” Was it sent? Or is it stuck somewhere? Will it be sent immediately or 10 minutes from now?

Continue reading “redesign | apple: What’s wrong with how Siri is responding to a request to send a message?”