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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”

Just my thoughts #0003

Certificates are often more valuable in proving "there is none" than in proving "there is one." For example, a birth certificate is more beneficial in proving the only person in the world by proving an unborn existence like him or her than in proving the person's existence. That is, proof of absence is more valuable than proof of existence. We don't know where value comes from. What is the real element of our existence and our occupation? - Joseph's "just my thoughts"