Day: January 22, 2021

Senate Filibuster Showdown

Democrats won’t agree not to break the 60-vote majority rule.

Biden Learns to Love Brett Kavanaugh

Democrats suddenly adopt the theory of the unitary executive.

6 Advantages of Hyperbolic Discounting

6 advantages of hyperbolic discounting

You may not know what hyperbolic discounting is, but it has vast ramifications on society as a whole. Additionally, a lot of people do not use the power of hyperbolic discounting in conversion optimization.

What Is Hyperbolic Discounting?

Put simply, hyperbolic discounting happens when people would rather receive $5 right now than $10 later. That’s it. People value the immediacy of time over the higher value of money.

Expressed another way, hyperbolic discounting is a person’s desire for an immediate reward rather than a higher-value, delayed reward.

hyperbolic discounting - "now" and "later" boxes, with "now" box checked

You may be confused why someone would not choose the delayed reward if it means a greater benefit.

Here’s the thing: hyperbolic discounting is a cognitive bias, meaning that it is an ingrained mental snafu that defies logic and common sense. When hyperbolic discounting is framed differently, it has incredible power.

The power of hyperbolic discounting adjusts based on the time involved. If you have to wait to receive both rewards you become more likely to want the reward with the greatest benefit.

For example, if you had to choose between $50 now or $100 in 6 months, you’re most likely going to take the $50 today. However, if you are offered $50 in nine years or $100 in a year, you are more likely to choose the $100.

The pattern follows a hyperbola. Once a certain amount of time has passed, people begin to choose the option with the greater value again. For example, most will opt to take $100 in ten years over $50 in nine years.

That’s where the hyperbola part of hyperbolic discounting comes in. A hyperbolic curve displays the effect of hyperbolic discounting, in contrast to an exponential curve.

This is an exponential curve:

exponential curve table

This is a hyperbolic curve:

hyperbolic curve inverted

Hyperbolically, the discount factor diminishes based on the amount of time that elapses.

Hyperbolic discounting vs. exponential discounting

How Hyperbolic Discounting Works in the Brain

Hyperbolic discounting isn’t some nifty gimmick that sometimes works and sometimes doesn’t. Our brains are programmed to be drawn to the tug of hyperbolic discounting.

Although we can’t avoid the feelings that pop up as a result of hyperbolic discounting, we can combat it by recognizing when it’s happening and understanding how to proceed.

google result studies on hyperbolic discounting

A spate of scholarly studies have confirmed the validity of hyperbolic discounting.

Research published in the Journal of Neuroscience discovered the brain makes discounting judgments reflexively and automatically.

We aren’t thinking through whether we want more now or less later. We inherently want to get the benefit as quickly as possible. This desire for immediate reward diminishes as time goes on.

Hyperbolic Discounting Origins

Some scientists explain hyperbolic discounting through an evolutionary approach. If your ancestors found food, they would kill it and eat it right away. They wouldn’t let the scrawny antelope pass to possibly get a fatter one later. They would get the scrawny one now. One little antelope meal now is better than two fat ones in a month. By that time, the hunter-gatherer would die.

Imagine a dehydrated person traveling through the desert. Ahead, they see a small glass of water. If they deny the sip of water and keep going just a little longer, they will receive one hundred water bottles. What do they do?

According to hyperbolic discounting theory, they’d choose to sustain life by having a little bit of water now rather than a lot of water later.

The Power of Now in Hyperbolic Discounting

Copywriters, psychologists, and moms understand the hyperbolic discounting phenomenon all too well. We want what we want, and we want it now.

In the famous marshmallow experiment, Stanford psychologists led a child into a room and offered the child a single marshmallow. The treat was sitting there on a table right in front of them. If the child could wait fifteen minutes without eating the marshmallow, they would receive a second marshmallow.

Although most children were able to keep their appetite in check, the study highlighted an issue known as delayed gratification.

Delayed gratification is the behavioral opposite of hyperbolic discounting. Delayed gratification means “making a choice which limits the ability of getting something now, for the pleasure of being able to have something bigger or better later.”

It’s a concept that goes against hyperbolic discounting and the ingrained ideals of culture — the whole “we want it now” idea.

Our brains are wired for now. Neuroscientists have discovered that our brains light up like a Fourth of July night when we get stimulated by the power of something right now.

brain scans lighting up when being presented with immediate rewards/hyperbolic discounting

What Are The Effects of Hyperbolic Discounting?

Apart from sales gimmicks and advertisements, hyperbolic discounting can have devastating effects elsewhere in life.

For example, each year, hundreds of thousands of people receive coronary-artery bypass graft surgery. The surgery saves their lives. However, it only saves their lives for the long term if they apply the correct lifestyle changes.

Recommended changes include no smoking, more activity, a healthier diet, and faithfully taking medications. Tragically, however, “Ninety percent of those patients decide to forego survival and comfort in favor of the short-term pleasures of unhealthy foods and laziness” (source).

Let’s examine another massive example of hyperbolic discounting. It’s not as morbid, but it’s equally devastating: credit cards.

Credit cards push hyperbolic discounting to the max. A credit card user can have something of value now, or they can wait until they can afford the item, thereby saving them the money they would be paying in massive interest rates.

Here’s another example. Many people save for retirement because there’s no immediate reward for saving for the future.

hyperbolic discounting's impact on retirement savings

If you could go out to eat at a nice restaurant for $200 tonight, why put that money in some retirement fund to enjoy when your 72?!

Waiting to invest in retirement has its own hyperbolic curve, and it’s not very pretty.

graph showing hyperbolic discounting's affect on retirement savings

Hyperbolic discounting is dreadfully powerful. It’s hard for people to deny themselves now in order to enjoy a reward later. I would never advise any marketer to exploit the hyperbolic discounting principle in harmful ways.

I’ve used the above examples to show the incredible power of hyperbolic discounting, but I also want to use them as a warning. On a macroeconomic scale, hyperbolic discounting can have devastating results.

On a smaller scale — conversion optimization, ecommerce, etc. — the results are innocuous, beneficial, and appropriate.

Put Hyperbolic Discounting to Work

Are you ready to leverage the power of hyperbolic discounting? Here’s how it’s done:

1. Raise Your Price. Wait For The Reward.

Hyperbolic discounting gives you license to raise your price as long as you delay payment.

When you offer to postpone payment for your goods or services, the items’ price becomes less relevant to the buyer.

This is because as soon as they realize they don’t have to pay right away, the customer doesn’t think about paying. Instead, the power of hyperbolic discounting and the reward of getting the product immediately dominates your customers’ thinking.

Instead of thinking, “Wow! That’s expensive!” the buyer is thinking “Wow! I can have it now!” Based on the hyperbolic discounting principle, the wow-I-can-have-it-now thought is going to win out.

As soon as the price consideration is removed, the buyer is ready to make their purchase, even if it costs them a lot of money (someday). You’re ready to profit.

2. Buy Now. Pay Later.

This is one of the most common forms of hyperbolic discounting in marketing. You may know it better as the “Buy now! Pay later!” technique. uses this approach. Their website is packed with hyperbolic discounting. If you want to exercise your delayed gratification muscles, go check them out.

examples of QVC hyperbolic discounting techniques like "buy now! pay later!"

PayPal’s infamous PayPal Credit (previously “Bill Me Later”) was also built on the whole psychological principle of hyperbolic discounting.

paypal credit screenshot

Montgomery Ward does it, too.

montgomery ward example of hyperbolic discounting

Lurking behind the principle of hyperbolic discounting is the fact that you’re applying for a credit card. Remember what I told you about credit cards? They are built on the power of hyperbolic discounting.

You don’t have to offer credit cards in order to use the hyperbolic discounting technique. You can simply delay payment, allowing the user to make a purchase and wait to pay. It’s risky for you, but it could improve sales.

3. Give an Immediate Gift.

With hyperbolic discounting, timing is everything. That’s why some people refer to it as temporal discounting.

The time element is the most important factor for buyers. Rather than wait for any length of time for a reward, they prefer benefits that are available immediately.

In many cases, a simple and inexpensive gift will suffice. Sometimes, users will convert based on the promise of an immediate result, even if the full product is not available until later.

EA Access gives gamers the ability to join a program where the big results aren’t available until later. Gamers are likely to convert, however, because they get immediate access to the parts of the game.

example of "immediate gift" hyperbolic discounting technique - EA Access

4. Charge a Higher pPrice for a Shorter Term.

Have you ever noticed that some websites offer payment plans that don’t make financial sense?

Here’s the type of thing they offer:

  • Buy 1 month: $9.99
  • Buy 1 year: $39.99

Most people can do the math. They know that there are twelve months in a year. If one year costs $39.99, then one month at the yearly rate is only $3.33. Why would anyone pay $9.99 for one month?

Hyperbolic discounting, that’s why. The user wants to pay less now. They don’t want to pay more, even if it results in a discount over the long term. They consider the issue from a hyperbolic discounting perspective, not a true value perspective.

Here’s an example:

Example of Grammarly's hyperbolic discounting subscription page

Grammarly uses this on their pricing page. Users can pay $29.95 each month, or $11.66 per month. Obviously, you would choose to pay the $11.66.

However, you have to keep the framing effect in mind. How the price is framed heavily influences how the price is perceived. Thus, when presented with a lump sum payment of $139.95, users are tentative. They would rather save money now than save money over the long term.

As a conversion optimizer, you can use this technique to your advantage. Users get to choose their payment method. You’re getting more value per order from the short-term pricing option because buyers are heavily influenced by hyperbolic discounting.

5. Pay For Referrals Right Away.

Online affiliate programs are very popular, but not very strategic. Here’s how they work:

If customers refer friends, then they get money when the friends sign up. Here’s a screengrab from Payoneer:

Payoneer screengrab of the hyperbolic discounting technique of the friend referral program

This is a nice feature, but who wants to wait for their friends to sign up? Even though the payout could be big, the delay is insufferable. Remember, people want the reward now.

A more strategic approach of hyperbolic discounting is to pay people for the referral, rather than making them wait for their friends to actually sign up.

If you offer, say, ten cents for every referred friend, then you can give the referring friend $10 to refer 100 friends. This approach could get you a lot more potential leads.

If you stick with the old pay-when-they-sign-up model, you may have to pay $10 for only a single referral. With the pay-now model, you can compel the referring friend to make 100 times as many referrals.

6. Offer Mail-in Rebates

Why do some retailers offer mail-in rebates? The idea is that if you cut a coupon, scan your receipt, and mail them or upload them to a website, you might get a check in the mail in 20-40 weeks.

Who even has time for that? Do retailers really think that they’re doing you a favor? Of course not. They’re using hyperbolic discounting.

firestone 50 dollar rebate

Mail in rebates work for only a select few customers: the disciplined ones who never lose anything and save their receipts. In other words, not many people.

People are likely to buy the product now, thinking that they might get a discount in the future. More likely than not, that mail in rebate form will languish in a stack of papers until it expires. The retailer doesn’t have to pay anything.


If you want better conversion rates and smart marketing power, then this article was written with you in mind.

Are you ready to harness the power of hyperbolic discounting in your marketing strategies? Let’s talk!

About the Author: Jeremy Smith is a conversion consultant and trainer, helping businesses like Dow Chemical, American Express, Panera Bread, and Wendy’s improve conversions and strategically grow their testing culture and digital presence. Jeremy’s experience as the CMO and CEO of technology firms has given him a powerful understanding of human behavior and profit-boosting techniques. Follow him on Twitter.

The post 6 Advantages of Hyperbolic Discounting appeared first on Neil Patel.

Top 10 Immigration Magazines & Publications To Follow in 2021

Top 10 Immigration Magazines Contents [show] ⋅About this list & ranking Immigration Magazines The Immigrant Magazine Canadian Immigrant America Magazine » Immigration Ms. Magazine » Immigration Prospect Magazine » Immigration ITALY Magazine » Immigration Attorney at Law Magazine » Immigration Lawyer Monthly » Immigration Submit Blog Do you want more traffic, leads, and sales? Submit your blog […]

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Top 30 Christian Teen Podcasts You Must Follow in 2021

Top 30 Christian Teen Podcasts Contents [show] ⋅About this list & ranking Christian Teen Podcasts Teen Christian View The Teen Talk Show Christian Girls P.O.P. The Stranger Sessions | A Christian Teen Podcast Unlocked | Daily Devotions For Teens Fierce And Lovely Academy Days | Christian Fiction For Teen Girls Teen Christian Podcast (TCP) Teen Bible Study […]

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How to Build Business Credit in 30 Days

Find Out How to Build Business Credit in 30 Days

You may have heard of business credit, which is credit in the name of a business and not its owner. It is an ongoing process and you must do it proactively. That is, it won’t just happen – you have to make it happen. Did you know that in 30 days, you can hit the ground running and build business credit?

How to Build Business Credit in 30 Days: You Need to Get Fundable

There are a number of things you can do to make your business more fundable. That is, more likely to get funding. Here are some acts you can take which are fast. They will give you quick bang for your buck.

Getting Fundable is About More than Building Business Credit

Yes, it will help you get business credit fast. But building fundability also bakes credibility right into your business. This will help you attract prospects, and it will help you convert more of them into customers.

Getting fundable may even help to shorten your time to close. And it will do so long after the 30 day time period has expired. A lot of these steps will require a phone call to a provider or chatting online. To expedite matters, get someone to help you, so you can get the preliminaries done in a total of maybe 2 or 3 days.

Fast Business Credit Building starts with Your Business Name

Does your business contain the name of its industry? That can be problematic if you’re in what is considered to be a risky industry. Risk is usually defined as a higher chance of injury on the job and/or businesses which perform more cash transactions than most other companies. To become more fundable, don’t add the name of a risky industry to your business name. Deciding on your business name can take less than a day.

Demolish your funding problems with 27 killer ways to get cash for your business. Get money even during the worst of a recession.

How to Build Business Credit in 30 Days: Consider Your Business Phone Number

A cell phone or home phone number will get your business flagged. It will not be considered to be established. This will harm your business in your quest for fundability. But you can use VOIP (voice over internet protocol). This enables any phone number to ring any device. So you can still use your cell phone. Setting up a VOIP will take far less than a day.

Toll-free numbers are best. That is, 800 or an equivalent exchange, such as 877 or 888. You also want to have a 411 listing. You can get one via Lenders and credit providers will be looking for your phone numbers, so make them findable. You can a toll-free number fast through a provider like RingCentral.

How to Build Business Credit in 30 Days: Your Business Address

Working from a residence can be a red flag to lenders and credit providers. They will check your business address on Google Street View and flag it as residential, and you’ll be denied business credit. A virtual business address can address all these issues.

You get a deliverable address – not a PO box or UPS box, which would also be flagged and generate a denial. This means an actual brick and mortar address. Some plans give you access to clerical help, conference rooms, mail forwarding, and more. Three we really like are Alliance, Da Vinci, and Regus. You can contact any of these providers and get a fast live quote.

How to Build Business Credit in 30 Days: Your Business Website

You must have a professional-looking website and email address. Your domain needs to be or .net if you can get that. Never use Wix or Weebly. You will need hosting through a hosting company like GoDaddy. You can buy a domain and set up a website (larger hosting companies will provide services to help if you’re inexperienced with this) in maybe a day.

Don’t Forget About Your Business Email

Your email address needs to be on the same domain as your website. Generic professional names work well, something like or Don’t use Gmail, Yahoo, AOL, or the like. But don’t worry about checking yet another email address, you can have any email forward to any other email. You can set all of this up at the same time you set up hosting.

Fast Business Credit Building Means a Trip to The Secretary of State’s Office

The Secretary of State’s office has info on every license needed to run your business. They also have helpful information, like if you need to take continuing education to maintain your license. Processing time varies, in some states, it won’t be done in time.

But even if licensing will come past the 30 day mark, you can at least get started with getting your licensing. Even business credit providers which insist that you have your license(s), may make an allowance if you can prove you have put in your application. So be sure to print and keep copies of receipts and forms.

Demolish your funding problems with 27 killer ways to get cash for your business. Get money even during the worst of a recession.

Let’s Look at Your Business Bank Account

Many business credit providers will insist that you have a business bank account. It must be devoted to your business. This will also help to keep you from accidentally commingling funds. You can apply for a business bank online at many banks, even if the bank has brick and mortar locations.

In particular if you have a personal account with a bank, and you’ve managed it well, you can get a business bank account fast. You can often be approved within as little as 15 minutes online. But it may take longer for you to get a debit card or checks or the like in mail. So to save time, you may want to do this in person.

Don’t Forget about Your EIN and Business Entity

Visit the IRS website and get a free EIN for your business. Choose a business entity like corporation, LLC, etc. You can start off as a sole proprietor. But you will most likely want to change to a type of corporation. This is to minimize risk and maximize tax benefits. Note: a DBA is not a separate business entity.

Getting an EIN and choosing a business entity at are both fast. They will happen as quickly as your internet connection allows. Doing these things at this stage of the game means you’ve got a set business address, phone numbers, etc. So you wouldn’t have to change them later.

Take a Look at SIC and NAICS Codes

You will also choose codes at SIC and NAICS codes classify your business. The IRS is moving from SIC to NAICS. But for now, consider both to be in play.

Codes show what your business does. For example, NAICS code 531312 means Nonresidential Property Managers. If your business could fit under one or more code, choose the less risky code

Lenders and credit providers are far less likely to approve a business if they consider it to be risky. Risky often means a higher chance of injury on the job or a business with more cash transactions than the average. You choose codes at the same time as you get your EIN and select a business entity. You can get all this done in less than an hour (internet permitting).

Incorporating Your Business

The amount of time it takes to incorporate will vary. It will depend on the state you’re incorporating in. It will also depend on the means you use. In general, online will be faster.

Even if you apply to incorporate online, you may still have to wait a few business days. In general, you will need Articles of Incorporation. If you want them drafted quickly and correctly, you’ll probably need to hire a corporate attorney to get this done. In the meantime, you can be working on some of the other things you need to get fundable and quickly build business credit

Fast Business Credit Building means getting Your D-U-N-S Number

Build Biz Credit in 30 Days Credit SuiteTo build business credit, you will need a D-U-N-S number from Dun & Bradstreet. A D-U-N-S number + 3 or more reported payment experiences will generate a business credit report. And, therefore, you’ll have built business credit.

Go here: The free product will send you a D-U-N-S number within 30 days. But with our time frame, you don’t have that kind of time to wait around. Hence, you’ll end up spending $229 to get an expedited D-U-N-S number in 5 business days or less.

The $229 (DUNSFile + CreditSignal) will also get you monitoring, but it’s only monitoring of D&B business credit scores. You will also get alerts when your score changes. And you will get a full basic D&B business credit file.

How to Build Business Credit in 30 Days: Establish Payment Experiences

Lenders consider your credit history as one of the chief factors when determining creditworthiness. Making timely payments will demonstrate to anyone looking to do business with your company that you’re low risk. You can open most credit accounts online in just a few minutes. But it will take longer to see the impact on your credit report. To save time, you only want vendors which will report to the business credit reporting agencies.

Demolish your funding problems with 27 killer ways to get cash for your business. Get money even during the worst of a recession.

It’s Vital to Work with Vendors Which Report

Most vendors don’t report. But here are three that do: Uline at, Crown Office Supplies at, and Strategic Network Solutions at

Even vendors which report may need you to reach a certain minimum before they will report. Crown Office Supplies requires an annual membership (for a fee). So check the fine print and call or chat online with a representative to get information fast, which you know will be correct. And keep in mind, it can take over 30 days for reported purchases to show up on your business credit report.

How to Build Business Credit in 30 Days: Takeaways

When all is said and done, it may take over 30 days to build business credit. But if your business is already set up, that will save time. You may need to pay to get everything done faster, and correctly the first time (which will also save time). But no matter what, once the 30 days have elapsed, your business will be set up well and will exude fundability.

A highly fundable business setup will only help you in the years to come. We can help you get started. And we can help you get everything done a lot more quickly. Let’s work together to build your business credit as fast as possible.

The post How to Build Business Credit in 30 Days appeared first on Credit Suite.

Memfault (YC W19) Is Hiring Engineers in Boston and Berlin

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Lawn Love (YC S14) Is Hiring a Head of SEO (Remote)

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New comment by monniek in "Ask HN: Who is hiring? (January 2021)"

Web developer | Remote | 3+ years experience | Full-time

We’re hiring for a web developer as we shake up the audio space! The startup is VC-backed and fully remote indefinitely, but based in London, ENG.

Tech tack (3+ yrs ex.)
– React.js
– Javascript

Any questions, just give me a shout! Alternatively, if you want to ping me personally, feel free Thanks!

Full job spec:…

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Lawn Love (YC S14) Is Hiring a Head of SEO (Remote)

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