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Finding signal on Twitter is more difficult than it used to be. We curate the best tweets on topics like AI, startups, and product development every weekday so you can focus on what matters.
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Press Space to continue
Twenty men each took a little money from one traveler and together they cost their city every visitor he would have sent for years. Economics has a name for this. In 1998 a Columbia law professor named Michael Heller was in Moscow after the Soviet collapse and noticed something strange. Storefronts on the main streets sat empty while flimsy metal kiosks crowded the sidewalks right in front of them. The shops weren't unusable. They just had too many owners. Privatization had handed out rights…