David Rosenthal: belief

Transcript context

…So nobody ever needs to bring their cash. You could just imagine that we're all in this club of diners where anywhere we dine, we can stand up, we can authorize the bill, we can leave, we can pay no dollars out of our pocket that moment, and we get one nice statement at the end of the month that importantly, we do need to pay in full. We cannot roll it over into a loan, we must pay it. But that's nice, because all of my business transactions are on one single statement. It's easy for my expense reports, it's easy for me to not have to carry a wallet around. Of course, I get to look super awesome in front of all of my colleagues. I think there are two really important points here. (1) You said, I pay it. I don't pay it, my company pays it, I don't care. (2) The most important point, I get to look super awesome in front of all my colleagues, customers, and people that I'm trying to impress. I don't need to bring cash. They know me here. I'm good for it. Just to start tracking a certain number here. When we were talking about checks earlier that we're getting a discount, and even in this era of early Diners Club, early American Express, we're talking about a 5%–7% discount of what actually got remitted ultimately to the restaurant or the retailer versus what the bill was originally that the consumer authorized.…

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