Cold-start problemThe 1958 Fresno credit card drop
→In September 1958 Bank of America mailed 60,000 credit cards to people in Fresno, California, after recruiting about 300 merchants to accept them. The 99% Invisible episode reports that by 1959 the bank had mailed more than 2 million cards, had lost about $20 million, and did not turn a profit until 1961. The system it built later became Visa.
Cold-start problem