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5 Quotes from the latest Limited Supply podcast (S3-E3) on Envato that we loved
Nik and Moiz reveal the story of a website design business, from starting with little money to becoming a successful example. Here are 5 quotes we loved from their discussion.
- On loyalty programs
1. The market cap of American Airlines’ loyalty program is 26 billion dollars, almost five times bigger than the actual business that the bank is built on.
— Loop Subscriptions (@LoopEngine) February 13, 2023
- On cashbacks
2. Essentially like the Costco model. Costco gives you I think it's two percent cash back for the executive plan and you know this that every Brown parent says no we're going to get it from Costco it's cashback right.
— Loop Subscriptions (@LoopEngine) February 13, 2023
- On tax-hacks
3. Cash back on credit cards generally is like tax-free. I'm not sure look I think it's income tax free and I think it's supposed to be income tax free but even if it's not supposed to be, I feel like no one declares it as income.
— Loop Subscriptions (@LoopEngine) February 13, 2023
- On credit card fees
4. So you know if you're if you're going to plastic right and using your credit card to pay for a wire transfer that means that you're paying a 3% fee right, that 3% fee is tax deductible because that's a fee that you're incurring as a cost of doing business.
— Loop Subscriptions (@LoopEngine) February 13, 2023
- On funding
5. If you're a pre-seed or a seed Stage Company based in New York and you raise between 50 to 250k where your valuation is uh or you've raised 2 million or less of Prior funding you can get a 100 match from the state of New York and they will own no equity.
— Loop Subscriptions (@LoopEngine) February 13, 2023
Checkout the podcast here.
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