Every University of Chicago economics student does a problem where you calculate out your salary based on how much money you will withdraw from the ATM on average at each visit. Figured into this equation are travel costs (how far the atm is from you), the atm fee, and your salary.
Our team has been meeting early mornings in the east village to review technology/marketing strategy for 45 minutes prior to heading up to the office. It is a good way to all get on the same page before the hell of the day starts. We meet at a joint run by a young entrepreneur, NYU grad….if we are going to be buying coffee somewhere, might as well be there.
Of course, credit cards are not taken and putting in receipts to your own company just seems silly so this meeting now means that I am buying breakfast every morning. There must be 5000 atms in the east village, there are 25 within walking distance from me, so my travel costs have not increased.
so here is how I figure that I am getting richer….using what I like to call my “World Bank sense of deduction”:
- Take one variable
- Apply it to hypothesis
- Hold everything else constant
- Come to a conclusion and do not allow questioning of that conclusion
If it works for the World Bank, I am sure it can work for me.
So, back to our three variables:
- Amount of Withdrawal: I am steadily taking out more money from the ATM
- Travel Costs: Constant
- ATM Surcharge: Constant and annoying…damn banks
So, I must be making more money right? ummm…
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