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    Bits about MoneyPatrick McKenzie (patio11)11/5/2111 min
    2 reads1 comment
    Bits about Money
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    • deephdave
      Top reader this weekTop reader of all timeReading streakScout
      1 month ago

      It is believed by many that banks make lots of money selling "your data." This is not a significant contributor to the economics of credit cards, for reasons which are slightly too complicated to get into in this piece. The short version: much like Google and Facebook, issuers can demonstrate to the most sophisticated organizations on the planet that they can deterministically influence actual purchasing behavior. That's easier to sell than a CSV file and worth more to more businesses.