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July 28, 2009

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Think Like a Pirate

Wow. Wired’s interview with a Somali pirate is amazing. Very matter-of-fact. He thinks like a CEO:

Once you have a ship, it’s a win-win situation. We attack many ships everyday, but only a few are ever profitable. No one will come to the rescue of a third-world ship with an Indian or African crew, so we release them immediately. But if the ship is from Western country or with valuable cargo like oil, weapons or then its like winning a lottery jackpot. We begin asking a high price and then go down until we agree on a price.
Robin-sig.gif
Posted July 28, 2009 at 10:19 | Comments (2) | Permasnark
File under: Briefly Noted

Comments

Wired's came well after NPR's planet money did an excellent radio story on all the economics of pirating
http://www.npr.org/templates/story/story.php?storyId=103657301

Thanks for the pointer, Abram. You're right; that NPR story is just as good. Maybe better!

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