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Trung Phan 🇨🇦

@TrungTPhan

14 Nov

It's estimated that ~1% of the world's population eats at McDonald's every day.

McDonald's best lever to influence purchase decisions is the menu, which the $190B fast-food chain designs with many psychological hacks to boost sales.

Here are 10 of them 🧵

1/ In the mid-2010s, McDonald's sales were lagging. The brand turned around its fortunes with a multi-year menu & store redesign that:

◻️emphasized simplicity (speeding up avg. drive thru time from 400 secs to 350 secs)
◻️highlights signature items (pricier = higher margins)

2/ Here is McDonald's challenge: loyal customers love the classics (Big Mac, McChicken).

And they spend only 30 secs on the menu (getting them off default options is hard).

But McDonald's sells 2B+ meals a month, so influencing choices for a small % of customers boosts profits.

Read 17 tweets

Trung Phan 🇨🇦

@TrungTPhan

14 Nov

For investing, I’m a big believer in long-term thinking. You can’t be swayed by day-to-day volatility.

Here’s my portfolio over a multi-decade time horizon:

FYI: This is not investment advice but you should listen to the Not Investment Advice (NIA) podcast.

🔗 podcasts.apple.com/us/podcast/ep-…

For people concerned about my portfolio, I forgot to add the "Centuries" curve

Read 5 tweets

Trung Phan 🇨🇦

@TrungTPhan

10 Nov

Disney World receives 20m+ visitors year.

To guide guests (and create an unforgettable experience), the park's design is a masterclass in visual and color psychology.

Here are 14 examples 🧵

1/ The job of building the park falls on Disney's Imagineers.

There are about 1.5k of them and they use this design pyramid which focusses on visual communication, wayfinding and "making things memorable."

2/ The red "carpet"

When you enter the Magic Kingdom, the bricks are red. This was Walt Disney's way of signalling to guests that he was "rolling out the red carpet" for an unforgettable experience.

Read 20 tweets

Trung Phan 🇨🇦

@TrungTPhan

9 Nov

Wild stat: 15% of Google searches are first-time queries (questions that have never been asked before)

For an answer to “do farts smell like eggs in the metaverse?”, check out the Not Investment Advice (NIA) podcast.

🔗 podcasts.apple.com/us/podcast/not…

Here’s the current top Google answer to “do farts smell like eggs in the metaverse?”:

Read 4 tweets

Trung Phan 🇨🇦

@TrungTPhan

8 Nov

One reason Vitalik created ETH: he learnt the dangers of centralization after World of Warcraft took away his warlock’s powers.

If the game maker (Blizzard) let him be, *it* could've created ETH instead.

Now, ETH ($570B) is 11x $ATVI ($52B)

LESSON: The customer is always right

Here is Vitalik's full origin story. Legendary:

🔗 cypherhunter.com/en/p/vitalik-b…

Vitalik later said in an AMA that the "origin story" was a joke. Still, Blizzard effed up.

🔗reddit.com/r/ethtrader/co…

Read 4 tweets

Trung Phan 🇨🇦

@TrungTPhan

7 Nov

In 2021, Peloton has seen its market cap fall from $50B to $17B. The “iPad on a bike” joke is trending but it’s a bit unfair.

Peloton’s design smartly uses many psychological hacks to get people hooked on exercise (and it's worth learning from).

Here are 9 of them🧵

1/ The psychological challenge with fitness is called “hyperbolic discounting”: we value immediate though smaller rewards more than long-term larger rewards.

The pain of diet or exercise NOW isn’t worth the long-term benefit of “being in shape”.

2/ Peloton's goal is to get you on -- and hooked by -- its bike. The key to this is "the habit loop": a neurological phenomenon that governs any habit (good or bad).

It has 3 parts:

1⃣CUE: Trigger craving
2⃣ROUTINE: Action to get reward
3⃣REWARD: Satisfaction of craving

Read 18 tweets

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