Most people study in school, yet the education system does not provide financial education. Even though it doesn’t take long for us to realize that finance is an essential element of survival, isn’t it strange that schools don’t offer financial education? Economic activity is a power game where someone wins and someone loses. One person’s loss is another’s gain, and my sacrifice is someone else’s fortune. In other words, economic activity embodies the harsh reality of deciding between discomfort and the uncertain odds of a game that determines who occupies a position, even though that position has already been predetermined. This issue is further exacerbated by the fact that people have different productive capacities and society mandates that the means of value exchange is cash (fiat currency). To survive, you must first understand how social systems function. - Joseph’s “just my thoughts”
In 2019, the coffee shop franchise Banapresso had 47 branches in Seoul, 35 of which were concentrated in the Gangnam and Seocho districts. There were even other Banapresso stores within 200 meters of each other. It was denser than Starbucks. 100% of orders were placed through kiosks and mobile apps. The elders thought it would be hard to place an unattended order, but when they tried it, they were impressed with how seamlessly they were connected to the register. An Americano costs KRW 1,500 (about USD 1.27). There was only one employee. Everything was ordered at the touch of a button and the coffee was served within 40 seconds. All the bread was made at a nearby headquarters and distributed in batches. Banapresso was the antithesis of a traditional coffee franchise. Its parent company is an IT company that operates a ride-hailing app. The same business can be completely transformed into a different business model, due to the interpretation and context. - Joseph’s “just my thoughts”