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They kept moving past the racks of the Night Vale Daily Journal by the windows. Due to spiraling printing costs and the necessary layoff of nearly its entire staff, the Journal had long ago moved to an imagination-based format. The racks were empty except for a small note reminding you that if you imagined what a hypothetical Night Vale newspaper might look like, then you needed to send a check for $19.95 to the Daily Journal to cover your monthly Imagination Subscription.

The heart of the matter for Israel, therefore, is not subscription to an external code of conduct. It is a matter of faithfulness to a relationship with a personal God. The specific commandments have to do with how Israel’s loyalty to God is to be expressed in the ins and outs of daily life in specific times and places. The peril for Israel (“snare,” 23:33) is not that this or that commandment will be disobeyed but that it will be disloyal to Yahweh and serve other gods. The golden calf debacle demonstrates this. Israel’s future as the people of God is centered on this matter. If Israel is loyal to Yahweh, then that faithfulness will be manifested in obedience to the commandments; faithlessness to Yahweh will be manifested in a life of disobedience. The central placement of the loyalty commandment thus shows that issues of obedience and disobedience of all other commandments proceed from issues of loyalty and disloyalty. In other words, faithfulness to God himself takes priority over obedience. That does not make obedience of the detailed commandments somehow unimportant, but obedience follows from faithfulness, not the other way around.

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where a = accumulated future value, p = principal or present value, r = rate of return in percentage terms, and n = number of compounding periods. All too often, management teams focus on the r variable in this equation. They seek instant gratification, with high profit margins and high growth in reported earnings per share (EPS) in the near term, as opposed to initiatives that would lead to a much more valuable business many years down the line. This causes many management teams to pass on investments that would create long-term value but would cause “accounting numbers” to look bad in the short term. Pressure from analysts can inadvertently incentivize companies to make as much money as possible off their present customers to report good quarterly numbers, instead of offering a fair price that creates enduring goodwill and a long-term win–win relationship for all stakeholders. The businesses that buy commodities and sell brands and have strong pricing power (typically depicted by high gross margins) should always remember that possessing pricing power is like having access to a large amount of credit. You may have it in abundance, but you must use it sparingly. Having pricing power doesn’t mean you exercise it right away. Consumer surplus is a great strategy, especially for subscription-based business models in which management should primarily focus on habit formation and making renewals a no-brainer. Most businesses fail to appreciate this delicate trade-off between high short-term profitability and the longevity accorded to the business through disciplined pricing and offering great customer value. The few businesses that do understand this trade-off always display “pain today, gain tomorrow” thinking in their daily decisions.

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While Wyeth handled the technology, Tudor focused on business development. He gave ice cream–making demonstrations to confectioners, he offered coffee shop owners a water-cooling jug of his own design, and he came up with ice-block subscription models—customers could sign up for one or two deliveries a day, on a monthly plan. He even designed and built some of the earliest domestic iceboxes, which he called “Little Ice Houses,” so that customers could store their daily allowance of ice at home. Meanwhile, despite his self-pitying journal entries, Tudor had to admit that the nascent ice industry enjoyed some unique advantages. Ships departing New England ports were generally light on their outbound voyages, and frequently resorted to carrying stones as ballast, which they simply tossed overboard at their destination in order to return with foreign cargo. Once they were convinced that most of Tudor’s ice wouldn’t melt in transit, they gladly carried it at low rates: even a discounted cargo made more economic sense than a pile of rocks.

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