Elon Musk says every company should maximize the 'curve of customer happiness'

Elon Musk says every company should maximize the 'curve of customer happiness' — here's what that means (TSLA)

* Elon Musk has some business advice for other companies: "Maximize the area under the curve of customer happiness." * The Tesla CEO said that is the goal of his company, and other businesses should aim to do the same thing. * The hill-shaped curve shows that with more options, like Tesla's option to "subscribe" to its self-driving capabilities, customers have more ways to be satisfied. * Visit Business Insider's homepage for more stories. Tesla's goal is to "maximize the area under the curve of customer happiness," CEO Elon Musk said in an earnings call on Wednesday. He advised that it's "the kind of thing that all companies should try to do." Musk said Tesla will offer its self-driving capabilities as a subscription service — in addition to the traditional, permanent option — for customers who didn't purchase it outright when they bought or leased their vehicles. By giving customers additional choices, Musk said he is expanding its curve of customer happiness. This curve is a hill-shaped line, with its peak being the height of customer happiness. Leading up to the peak are customers wishing for more choices, and leading down from the peak are customers overwhelmed with too many options. As customers have different needs and wants, the philosophy behind the curve is that by maximizing the area under that curve, there is more room for customers to find satisfaction with a company or product. "It's what results in long-term value creation," Musk said. "Our goal is always really to do the best thing for the customers." Join the conversation about this story »
https://bit.ly/2VSv8FQ

Tokyo installed see-through public toilets in a park to let people inspect their cleanliness before using them, at which point the glass turns opaque

* Two see-through bathrooms have been installed in public parks in Tokyo. * They are made from "smart glass" designed so people can see how clean they are inside before using them. The glass turns opaque when the bathroom is locked and in use. * The stalls are part of a project that is redoing 17 of the city's public bathrooms with different designers to make them more accessible and appealing. * The goal is to fight assumptions that public toilets are "are dark, dirty, smelly, and scary," said the nonprofit foundation behind the project. * Visit Business Insider's homepage for more stories. Tokyo has installed two see-through bathroom facilities in public parks, allowing people to see how clean they are before deciding to use them, at which point they turn opaque. The bathrooms are made of colored "smart glass," which turns opaque when the stalls are locked, said Shigeru Ban, the architect behind the designs. You can see how it works her...

Here's an exclusive look at the pitch deck London fintech Lanistar used to raise $19 million at a $190 million valuation

* London-based fintech startup Lanistar has raised a £15 million ($19 million) funding round from Milaya Capital. * Founded in 2019, Lanistar is building a personal financial management platform that will launch later in 2020. * "We're expecting a huge amount of growth upon our launch and have already seen strong interest among our sign ups," Gurhan Kiziloz, founder and CEO of Lanistar, told Business Insider. * Visit Business Insider's homepage for more stories. The coronavirus lockdown in the UK has brought the importance of managing money into sharp relief. A recent study from Money.com shows that 71% of UK households have saved cash during lockdown, and, with uncertainty about jobs and the economy looming, money management is now front of mind for many. Lanistar, a banking platform with a focus on personal finance, is one company offering tools for consumers to better manage their money. It has just raised a £15 million ($19 million) funding round from Mil...

Europe's hot challenger banks risk losing their shine with mounting losses and customer 'flight to safety' during the pandemic

* Three UK challenger banks posted their financial results for 2019 through July and August. * Monzo, Starling Bank, and Revolut showed growth in revenues year-on-year but also mounting losses. * The trio have won customer loyalty and positive press for sleek app designs and colorful payment cards. * But their financial results and the challenge of COVID-19 raise fresh questions about their long-term viability. * Visit Business Insider's homepage for more stories. The shine may be rubbing off a key part of Europe's burgeoning fintech market, after three British challenger banks posted mixed full-year financial results for 2019. Monzo, Revolut, and Starling Bank all saw revenue, customers, and deposits go up, in good news for the fast-growing disruptors. But all also posted ballooning losses, with each of the three companies at least doubling their losses in 2019 compared with the previous year. The additional challenge of COVID-19 may make the prospect of profitabi...

Real IT Center