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Finshots

14 Sep, 8 tweets, 2 min read

#Google Maps has a near-monopoly in online navigational services.

Think about it- when was the last time you used any other digital mapping app?

And yet, Google offers this for free.

So, what gives?

A thread 👇(1/7)

Well, the majority of their revenue comes from advertising. When you search for a #business on Google, it lists the local businesses as map results.

Advertisers pay to have their listings featured more prominently in this map result. (2/7)

For eg, if Starbucks wants to show up at the top of search results in "coffee shops near me", it can pay Google Maps for this listing.

Google also earns income through its Google Maps Platform from companies and industries that need navigation, tracking, and mapping. (3/7)

It lends its API (a software intermediary that allows two applications to talk to each other) to ride-sharing apps, delivery companies, and others.
(4/7)

Swiggy for eg used Google Map's API to display restaurants within the customer's range as well as Google Maps Directions API to route to restaurants & customers.

But why Google Maps? (5/7)

Well, their real-time data is the most accurate.

The company research team gathers data anonymously from Android users, as well as reports from local governments on speed limits, construction sites, and factors like quality, size, and direction of roads.(6/7)

@finshots

With over 1 billion monthly active users, Morgan Stanley estimates that Google Maps’ revenue, both from desktop search ($1.23 billion) and mobile ($9.82 billion) will total more than $11 billion by 2023.

Follow @finshots for more. (7/7)

Sources:

~How does Google Maps make money- Investopedia

~ Google Maps poised to be an 11bn dollar business in 4 years- skift

~Special delivery with Google maps API- Blog. Google

~ How Google Maps uses DeepMinds Ai tools to predict your arrival time- The Verge

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More from @finshots

Finshots

@finshots

16 Sep

Sri Lanka's forex reserves have dropped precipitously, from $7.5B in Nov '19 to just $2.8B in July.

And now a lot of people are worried about Sri Lanka's worsening economic crisis.

So what's the deal? 👇(1/9)

Sri Lanka’s problem seems to stem from the fact that the country is quickly running out of foreign exchange reserves — Things like gold, dollars, and other dollar-like assets.

But how did it get here? (2/9)

Well, Sri Lanka is what you call a “Frontier Economy” — it’s neither underdeveloped nor big enough to be branded an emerging economy. Countries like these are usually dependent on a few specialized sectors.
(3/9)

Read 9 tweets

Finshots

@finshots

10 Sep

Some of the most unusual economic indicators you've probably never heard of- Part 2!

A thread👇 (1/11)

1.) The Bike Fatality Index - Evidence from the UK suggests that bike fatalities increase during recessions.

During periods of financial uncertainty, commuters avoid trains & cars in favor of bicycles.

More cyclists out on the roads raise the probability of mishaps. (2/11)

2.) Romance Novels Indicator - A bad economy can be heartbreaking. And what can be a good escape from heartbreak? A larger-than-life, cheesy romance novel! (3/11)

Read 12 tweets

Finshots

@finshots

7 Sep

The brilliant psychological ploy #businesses use to trick YOU into overspending.

A thread.👇

A decade ago, behavioral economist Dan Ariely noticed something strange about the subscription option of the international weekly magazine, The Economist.

The options were:
1. Web-only subscription - $59.
2. Print-only subscription - $125.
3. Web + print subscription - $125.

Dan thought what you’re thinking right now - "why would anyone buy the print-only subscription?"

On conducting a #study among MIT students, he found out that 84% chose the web and print option while only 16% of the students chose the web-only option.

Read 9 tweets

Finshots

@finshots

1 Sep

Ever wondered how buffet restaurants like Barbeque Nation offer unlimited food at such low prices?

A thread👇 (1/10)

Let’s start with their first offering - drinks. Soft drinks are one of the cheapest supplies for any restaurant, and these are offered in many ways - either as a complementary option or as a bottomless option where you pay for a glass but get unlimited refills. (2/10)

The idea is to make you drink them as much as possible so that you’re eating less food. (3/10)

Read 11 tweets

Finshots

@finshots

30 Aug

If you are a regular shopper, you might have noticed that women’s products cost more than the male equivalent or generic products.

Is this a fluke, or are #women paying more for products made for them?

Turns out, yes, women pay an invisible cost in the form of “The Pink Tax”👇

But the catch is - it’s not really a legitimate #tax imposed by the govt. It’s a cost added on products that are marketed towards women. The packaging on these products is often pink, ergo the name.

For eg, a study in the US found that the ingredients in shampoos & deodorants are almost identical for men & women, but prices for female-targeted items were nearly twice as much. Reports suggest that this pink tax costs women $2135 a year.

Read 7 tweets

Finshots

@finshots

17 Aug

1./ Have you ever been in a situation where you’ve tried to solve a problem, but ended up aggravating it?

Well, there’s a name for that situation - The Cobra Effect.

🧵...

2./ The name finds its roots in an anecdote about the British in colonial India, who offered cash to locals who would deliver dead snake skins.

3./ Instead of reducing the mushrooming number of snakes, this created ‘perverse incentives’ for Indians. Yes, people started breeding snakes to get rewards.

And this is applicable even today.

Read 8 tweets

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