Advertising is a unique service business. When limited to the Internet, platform operators gather users and allow them to access the platform for free in exchange for viewing advertisements. In reality, users are not accessing the platform for free; instead, the advertiser pays for it. In other words, users do not fulfill any obligations regarding platform use, while the advertiser assumes those obligations and gains profit by notifying and exposing themselves to the user. The platform operator fulfills its obligation by providing the advertising medium to the advertiser, but does not guarantee the advertisement’s success and is not accountable for the outcomes of the business. Advertising represents one of the few unique transaction structures in the world that satisfies the utility of each party without necessarily attributing benefits to the counterparty meant to receive them. Such an unusual transaction structure has been rare throughout human history. Although the advertising indu...
The Japan Airlines that no one thought would ever recover. It was the biggest corporate bankruptcy in Japan. When Kyocera Group Chairman Emeritus Kazuo Inamori took the helm to save Japan Airlines, his priority was to reform the mindset of the employees. Whenever he could, he gathered all employees for lectures on mental reform, and executives were required to attend a separate lecture on mental reform given by Kazuo Inamori every Thursday without exception. The employees' frustration was palpable, but the company returned to the stock market after two years and eight months. There is no magic in running a company. Attitude and mindset are everything. - Joseph's "just my thoughts"