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Just my thoughts #0651

What I spend is someone else’s income. Apple co-founder Steve Jobs discussed every morning at breakfast with his family about buying a set of Miele washing machines and dryers from Germany for two weeks. Why? Of course, it was to teach their children about economics and to illustrate a lesson about opportunity cost, a common trait among wealthy people. If you buy this washing machine, you cannot buy that one. That is the opportunity cost. It’s a form of relative value, based on the idea that choosing one option means sacrificing another, so the value of each can be compared within those limits. Wealth begins with training in understanding even trivial opportunity costs. To succeed in business, you need to learn how to measure opportunity cost first, rather than just how to make money. - Joseph’s “just my thoughts”
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Just my thoughts #0233

Why were the Beatles born in Liverpool? At the time, it was estimated that there were over 500 bands in the Liverpool area. One reason for this musical explosion is the presence of a U.S. military base at Burtonwood, located 24 kilometers from Liverpool. During World War II, this base provided essential supplies to a war-torn region and served as a conduit for the influx of American popular culture. Historically, wars and military installations have significantly impacted cultural development.


- Joseph’s “just my thoughts”




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