Time Preference Rate. “The Marshmallow Tale” by Joachim de Posada and Ellen Singer describes the “Marshmallow Experiment” at Stanford University. The experimenter left the child alone in the room and gave the child a marshmallow, instructing the child to eat it immediately. However, if the child did not eat it within 15 minutes, the experimenter would give the child another marshmallow. Some children waited the full 15 minutes, while others stopped waiting early. These two groups were followed for 14 years, and as a result, the more patient children showed better social and mental abilities. Those who cannot tolerate waiting are said to have a high time preference rate, while those who are patient are described as having a low time preference rate. In investment, high and low time preference ratios are not necessarily good or bad because many investments depend on luck. The key is to find and stick to methods and principles that match one’s own tendencies. - Joseph’s “just my thoughts”
There is a saying that bears perform tricks and their owners have money. Ownership, and thus rights, are powerful when they become a platform. The odds of making vast sums of money from video creators are small. However, most of them need video editing, regardless of their profits. In fact, rather than making money for video creators, video editing software companies make money. There are far more ads in job openings asking for editors than for video creators. The more online shopping malls there are, the more money delivery companies make. Since business is a competition within finite conditions, the primary virtue of business is to be in the best position above all else. It must be hard to get into the wrong line and compensate for it with something else. - Joseph’s “just my thoughts”