Derek D

@DevonDembinski @EliteGolfDad Happy Birthday Devon!

Big happy birthday to a guy who’s become one of my best friends. A guy who gets it. Who listens. Is always there. AND is an absolute stick. HBD @DevonDembinski Have a day, my man.

@MidwestGolfJake Interesting, definitely surprising.

@ddetts It just worked.

Golf season needs to start! I bought a new 3 wood yesterday. Callaway Quantum TD with the stock Ventus Black 70-S shaft (not Velocore). It's set to 16 degrees and 1 degree upright. I've hit this club twice in the last week and it's so much better than any other fairway wood I've tried over the past month. Just missiles!

@MidwestGolfJake @ElGUAPO_1976 I'm still playing Callaway Epic Flash sub zero 3w and 5w, going on their 4th seasons now. Going to play them until they break.

@ElGUAPO_1976 The crazy thing is I hit their driver when I did the driver fitting and I hated it. But at the local golf shop the dude handed me this club and said trust me. Instantly 15 more yards which perfectly fills my gap that I'm trying to fill.

@MidwestGolfJake @MattJZimmer Sure, there's equal opportunity but I think we can state the obvious. It's also easy to drive a combined 90 minutes, not have to book a hotel, eat out multiple meals. There is likely more Jacks fans in Sioux Falls than there are in Brookings, just by way of the population.

@ddetts @MattJZimmer It's less than 4 hours from Fargo to Sioux Falls. And I heard they sell tickets online. 😉

Meyer has made her last four at the line. #clutch

@MidwestGolfJake @MattJZimmer Thought after we beat them at home earlier in the year we could do it. Although the summit is a home game for SDSU too.

@ddetts @MattJZimmer Top 3 Jackrabbit of all time. Could make an argument she's #1.

@MidwestGolfJake @MattJZimmer I'm so glad we'll never to play her again. Man, she's absolutely clutch when it counts.

@MattJZimmer Feels like she took not winning player of the Year personally.

@DomIzzoWDAY Those 3 inbound pass turnovers and another throwaway pass. Jacks capitalized on those mistakes. Gutted for the team after the season they had.

#SDSU is going to win, #NDSU plagued by too many turnovers and not enough shots dropping, similar to what happened in this game two years ago.

@TheMrWilsonInc I avoid ORD at all costs. I'll connect about anywhere else.

Very few flights to ORD take longer in the air than the taxi trip to the gate….

@DomIzzoWDAY @sam_goetzinger What are the odds AK finishes get collegiate career at NDSU? I really hope she stays but I imagine she's getting big offers.

The hottest team in the Summit League is back home today. #NDSU goes for a 16th straight win this afternoon facing a resurgent #USD team. Join Amy Ruley, @sam_goetzinger and me at 1 on WDAY Xtra. This woman is one of the best players in the country. Reason enough to watch!

Fun day @WaltDisneyWorld waited in line for 2 hours for Rise of the Resistance only for it to shut down. Then 160 mins for Guardians to also close for issues. Over 4 hours for no rides. Terrible experience.

@Swany8 I was trying to recall the last time the women beat SDSU but I couldn't. It's been a long time!

This x 1,000! Huge, huge day for Bison Hoops! Men & Women with the Summit Flex! 🤘🏻🦬🤘🏻

@bPardini10 @Top100Rick Block Party 3.0

@Top100Rick The owner of Malbon isn’t your normal ceo

Malbon is the king of signing for social media attention, love or hate. Fred Couples. Anthony Kim. Now Michael Block. Blockie!! They are fools if they don’t sign Patrick Reed next. Have him show up to Augusta in a big puffy green outfit.

@amandaorson Exactly, they would have to tighten underwriting and risk to account for reduce interest income. That pushes a significant number of borrowers to more risky/expensive credit products. Or to not being able to get credit.

@ddetts Oh yeah. And now think about risk models and how those shift... the list is endless. We haven't even begun to contemplate all the second and third order effects.

Your credit card rewards exist because someone else is paying 25% APR. Cap that at 10% and the points don’t survive. I spent years working inside fintech and card programs. That interest margin is the invisible buffer that makes rewards, lounges, and credits pencil out. Capping credit card APRs at 10% sounds like an obvious consumer win. Cards charge 20 to 30%, many consumers revolve balances, and the system feels punitive. But credit card economics are not just about interest rates. They are a cross-subsidized system where revolvers subsidize transactors, rewards rely on behavioral inefficiency, and risk-based pricing subsidizes access. Remove one leg of that stool and the system does not become fairer; it rebalances. And the costs show up where consumers notice most. Lets look at how this would impact 3 programs 1. AMEX Platinum A 10% credit card APR cap would not make your card cheaper or better. You would still have access, but you would almost certainly get less value for the same or higher price. The Platinum brand survives because its customers are affluent, pay in full, and tolerate high annual fees. What quietly supports that ecosystem is portfolio-level profitability, which allows AMEX to tolerate loss, overuse, and inefficiency in premium benefits. When that margin shrinks, the cost shows up directly in your (lesser) benefits. In a world where: - Rewards economics tighten - Devaluations become more likely - Flexibility is reduced Points become a liability to the issuer, and liabilities get repriced. So what this likely means for you as a Platinum cardholder: - Lounges do not expand to fix crowding. Instead, access tightens or amenities are reduced. - Statement credits become harder to use, more fragmented, or less generous. - Annual fees go up - New approvals become more selective, even for high earners. Your card still works, but the value proposition shifts. Platinum becomes more explicitly pay-to-play, with fewer hidden subsidies propping up premium perks. You pay the same or more, and you get a little less in return. Which is why some people are already warning that points devaluations become more likely in this environment (like @BowTiedBull this morning saying "Dump ALL your credit card points. All of them.") 2. Bilt Card This program is the canary in the coal mine for what to expect. Bilt’s super popular rent rewards worked because Wells Fargo was willing to subsidize them. The card offered 1 point per dollar on rent with no fees because Wells Fargo paid Bilt roughly 0.8 percent (80 bps) of each rent payment to fund rewards... despite earning little or no interchange on those transactions. But that is some actuarial level math with a number of variables at risk that proved wrong/ unsustainable. Wells Fargo was getting hosed $10 million a month on the program, so they exited the partnership years before the original end date and forced Bilt to restructure its rewards with a different bank What does that teach us? - When interest and interchange margins shrink, banks stop tolerating loss-leading reward programs. - Interest income does not fund every reward directly, but it provides the buffer that allows experiments like Bilt to exist at all. - Remove that buffer and rewards must be paid for explicitly. Bilt’s shift to a three-tier lineup with annual fees is not an anomaly. It is the direction rewards go when credit stops quietly absorbing losses. Pay-to-play rewards. What feels like consumer protection will shows up as fewer perks, pay-to-play rewards, and less room for innovation. 3. Credit One & other Subprime Cards Now the least glamorous corner. Subprime cards get criticized for high APRs, annual fees, low limits, minimal rewards. But they exist for a reason. They serve thin-file borrowers, damaged credit, people shut out of conventional loans, households using cards for liquidity not perks... but they charge high APRs because charge-offs exceed 8-10%, fraud and servicing costs are higher, and credit limits are small while fixed costs remain significant. A 10% cap makes these products mathematically impossible. These cards don't become cheaper. They cease to exist. As @sytaylor noted this morning - "You realize this will push many more customers towards loan sharks?" The demand for credit doesn't disappear... it migrates to BNPL with opaque effective APRs, chronic overdraft usage, fee-heavy installment loans, and less regulated lenders like loan sharks/ payday loans. So who WOULD win? Debit-First Fintechs One of the least discussed consequences: where would reward customers migrate? I think 1% cashback programs are an obvious winner. Chime, Varo, Current and niche cards like Greenlight and Privacy. (If you have not worked in a fintech or a bank you probably don't know what the Durbin Amedment is - but the TL;DR is that very large banks (BoA, Wells, JPMC) have capped interchange rates of around 27 bps on debit swipes. Small banks with < $10B AUM, however, do not - they can earn 1-2% on interchange (avg was 160 bps or so last I checked). Which is why all of the debit card fintech companies you've heard of are partnered with these smaller banks - they can offer rewards like 1% cashback programs and still have margin sufficient to build a business around.) In a world where credit rewards shrink, access tightens, and annual fees rise, debit-based fintechs look better by comparison. But consumers lose: credit protections, payment float, stronger dispute rights, credit-building opportunities. TL;DR An APR cap feels like consumer protection. In practice it reshapes the market in ways that are easy to miss: - It will shrink access to credit - Eliminate rewards programs that aren't tied to high annual fees - Force risk into less regulated channels - Unintentionally advantages debit over credit - Help affluent transactors more than vulnerable borrowers Credit doesn't become cheaper. It becomes scarcer, less flexible, less transparent. But banks will adapt. Fintechs will adapt. Consumers caught in the middle do not get protected. They get fewer choices, worse products, and priced out.

@KipHenley Amazing how much money that swing has printed.

If this dude sent me this swing and I didn’t know him I would tell him to stay in school and get a good job. 😂💪🏆

@MidwestGolfJake @Top100Rick I really need to get there

@Top100Rick Always Lawsonia Links for me. It's my happy place and it's the only spot I know for sure I'll play every year.

What golf course are you most excited to return to in 2026? For me, North Berwick is the one. A magical place. One of the most influential golf courses in history, but more importantly, one of the most fun. Enjoy 2 minutes of golf bliss:

@bogeybarn @LandmandG Didn't bother trying

Who tried to score @LandmandG tee times? Anyone successful? Who missed out?

@MidwestGolfJake 🤣 even if it's an invite to Oxbow CC, Fargo CC or Moorhead CC? Edgewood is actually a solid public course too! Head to Bismarck & play Hawktree, by far the favorite of what I've played.

@ddetts I'll play out West in ND. Never in Fargo!

I didn't actually check off a single new state in 2025. And it's silly that I've never played in Missouri. Living up to my X handle though. Need to go east and west! How many states have you played in?