What You Need to Know Today: January 6

Good afternoon, Early Risers!

Here’s what you need to know

TECH

Twitter confirms 10,000 character limit. “We didn’t start Twitter with a 140 character restriction,” said Twitter CEO Jack Dorsey in a letter Tuesday. “We added that early on to fit into a single SMS message (160 characters). It’s become a beautiful constraint, and I love it!” But… What your customers say and what they actually do are not the same. Jack didn’t say that but the reason why Twitter is moving on from its “beautiful constraint” is because of how Twitter is currently being used. Full story.

Tinder’s compounding effects. “Wow! Tinder is on fire in your area! Chances of a match are 3X higher right now [flame emoji].” This is the new push notificationTinder rolled out on January 3rd to let users know they should be swiping more. This is a great idea. Here’s why: Tinder’s goal is to keep users swiping. By notifying users when organic matching in their area is highest, this gets users swiping more, increasing their chances of matching, which further compounds the effect.

CAREER

Jay Z claims a net worth of $650 million — here’s the truth… Numbers don’t lie, or do they? Of Jay Z’s $650 million net worth, $493 million is tied up in an art collection. “Who determines the value of those pieces of art? And don’t tell me the appraiser  —  the marketplace at the time of sale will determine the value. When he is ready to sell his art the market will determine the value of the art,” says Grant Cardone. Net worth is a calculation a lot of people get wrong. In this article, Cardone explains how to calculate net worth correctly and a much better indicator of your financial health.

How to start a successful franchise business. Did you know that franchises have a 30-40 percent failure rate? On top of that these 30-40 percent are still considered to be “healthy”  businesses. Bedros Keuilian CEO of the world’s fastest growing fitness boot camp franchise tells us the truth about what it takes to build a successful franchise. Don’t miss this!

LIFESTYLE

This guy got screwed over by StubHub. Jesse’s story goes like this… Eighteen days before Kobe Bryant announced he was retiring, Jesse bought 4 tickets to the Laker’s last home game vs. the Jazz on a hunch that this might be Bryant’s last season. The tickets cost him $906.77. After Kobe announced this season would be his last, Jesse received an email from StubHub notifying him that the tickets he bought had been refunded and he would need to repurchase them at the current market value (which appreciated almost 1000%). Jesse had some back and forth with StubHub but ultimately got screwed. Here’s the full story.

Why Elton Brand is signing with the worst team in the NBA. #mentorlife

#NOWYOUKNOW

Why Fans Stand By Perennial Losers

From the NYTimes

Loyal fandom is a multifarious, psychological quagmire, which academics have attempted to study and model throughout the years.

In 2001, Daniel C. Funk and Jeff James developed a Psychological Continuum Model in conjunction with their article “A Conceptual Framework for Understanding an Individual’s Psychological Connection to Sport.”

According to the model, one’s path in fandom can be isolated into four “floors:” awareness, attraction, attachment and allegiance.

Here’s how it works. 

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