Ask Jack: You've Got to Know When to Fold 'Em

Years from now — perhaps even now, for the younger generation — I think people will have trouble understanding that a significant percentage of humanity used to derive a good living from arbitrage of one form or another. We live in a world now that has been effectively flattened by the standardized shipping container and the Internet. It was not always so. Think of Max Hoffman towing one Beetle behind another one all the way from an East Coast port to a Midwest town then taking the train home.

Even more interesting is that people used to be accustomed to paying money for information and/or access to knowledge. For instance, my old pal Alex Roy grew up in his father’s business, Europe By Car, which was (and still is) a service that arranged overseas rentals for American customers. Can you imagine that there was once a time when people couldn’t just click a couple of buttons and have a rental car waiting for them in London or Stuttgart? Crazy, I know.

The imperial ease with which we command the delivery of things from China or arrange hotel rooms in Zurich from the comfort of our living room in Milwaukee sometimes blinds us to the fact that sometimes you just have to deal with the impacts of distance and displacement. Our friend Brent is experiencing one of those times, at least by proxy.

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