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Kak

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The Great Resignation - Ep 264

Is it good? Is it bad? Well like most things there are headwinds and tailwinds. The headwinds include the catalyst, being mostly, the government. That's not good. The decentralization trends that this is a part of, new innovations, and more individualism, on the other hand, are tailwinds.

Despite lizard people doing their best to ruin the world, "life finds a way."
 
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I've channeled an inner-Kakian response...

Screen Shot 2021-12-15 at 8.40.10 AM.png
 

Kak

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I've channeled an inner-Kakian response...

View attachment 41145
At this point, I think you could make a revised edition millionaire fastlane with a preface reflecting on the title and how people read the book, say it changes their life, and then proceed to do stuff directly contrary to the advice in the book.

I’d hit these d-bags that judge a book by its title right in the dust cover or on the back.
 
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I begin the show with an interesting situation I heard about locally... It STRONGLY parallels, on a micro level, society as a whole. Despite most people stacking the odds against the producers who put the real effort in, those who have built a life out of putting in more will always find a way. Just like she had options, we do too, and that makes our current situation better.
 

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Let 2022 be the very best for entrepreneurs (so far). Don’t let comfort stand in the way.

Special shoutout to Kyle for making this place extra special. Your “think bigger” had a great impact on me and many others. Cheers to you @Kak !
 

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"THIS TIME IT'S DIFFERENT!" The cry of an economically illiterate luddite.

This episode includes a little bit of a history lesson about the rejection of progress. Not progress in the nutjob political sense, which should be more aptly considered regression, but progress in human efficiency brought on by technology and entrepreneurship.
 

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Loved your Luddite episode.

Modern Luddites are much like the ones described in history: protecting professions from competition and progress by being anti-progress.

I'd say those who want licensing and certifications for careers are Luddites... When the goal is just to prevent people from producing, and protect vested interests, that's anti-progress and that's a Luddite.
 
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Kak

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Loved your Luddite episode.

Modern Luddites are much like the ones described in history: protecting professions from competition and progress by being anti-progress.

I'd say those who want licensing and certifications for careers are Luddites... When the goal is just to prevent people from producing, and protect vested interests, that's anti-progress and that's a Luddite.
Occupational licensing. Yes! Great point man. That shit is terrible.
 

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Loved your Luddite episode.

Modern Luddites are much like the ones described in history: protecting professions from competition and progress by being anti-progress.

I'd say those who want licensing and certifications for careers are Luddites... When the goal is just to prevent people from producing, and protect vested interests, that's anti-progress and that's a Luddite.
My favorite part was the reason we don't have to work our asses off for food anymore as a civilization... Because we have giant a$$ tractors that can farm ridiculous amounts of food...

Which was, at one point, considered technology.
 

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My favorite part was the reason we don't have to work our asses off for food anymore as a civilization... Because we have giant a$$ tractors that can farm ridiculous amounts of food...

Which was, at one point, considered technology.
not to mention the private business interests who organize all of that
 
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Kak

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Get rich quick schemes and lottery mentalities on trial today at KKRS.

Look around, entrepreneurship isn't the lottery... Every single business had a beginning, and because it had a beginning, it had a BEGINNER! An entrepreneur with a vision. That is how rich people get rich.

They didn't get rich because despite their mediocre day job, a tiny portfolio of calls and crypto went "to the moon." We spend a lot of time on locus of control. If you're waiting for the world to make you rich, that is an external belief. If you are actively doing things that rich people do, LIKE STARTING, OWNING and GROWING businesses... That is an internal belief.

Hope is not a business.
 

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Inflation is on the minds of most serious entrepreneurs and legacy minded people. Can the FED make inflation go away? What if they can? What if they can't? What does inflation mean for my investments? What does it mean for business? AND MORT IMPORTANTLY... What is likely to do well amidst this inflationary environment?
 
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Inflation is on the minds of most serious entrepreneurs and legacy minded people. Can the FED make inflation go away? What if they can? What if they can't? What does inflation mean for my investments? What does it mean for business? AND MORT IMPORTANTLY... What is likely to do well amidst this inflationary environment?

Awesome episode. Thank you. Required listening for this environment.
 

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Business owners need not worry about normal inflation. Obviously hyperinflation throws everything out the window and the world becomes chaos, but inflation that just reduces the value of the dollar is just fine for business owners. We put those dollars to work doing things that don’t lose value. We pay employees, charge customers, etc.

The only harm inflation does is for the short period of time that cash sits in our pockets. If the pickles you sell cost $2.45 in a few months you’ll charge 2.65 for them. Employees get paid $16.23 an hour, give them a raise to 16.89 an hour.

Now, the man who has 18,000,000 in cash sitting in his bank account who is sitting around thinking “my nest egg oh no :(“ yeah he’s f*cked. Or at the very least, seriously bummed out.
 

Kak

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Business owners need not worry about normal inflation. Obviously hyperinflation throws everything out the window and the world becomes chaos, but inflation that just reduces the value of the dollar is just fine for business owners. We put those dollars to work doing things that don’t lose value. We pay employees, charge customers, etc.

The only harm inflation does is for the short period of time that cash sits in our pockets. If the pickles you sell cost $2.45 in a few months you’ll charge 2.65 for them. Employees get paid $16.23 an hour, give them a raise to 16.89 an hour.

Now, the man who has 18,000,000 in cash sitting in his bank account who is sitting around thinking “my nest egg oh no :(“ yeah he’s f*cked. Or at the very least, seriously bummed out.
There are some other considerations I went over, but for the most part we are on the same page.

I tossed in a response to this comment in my recap on today's show. It's on the way. Thanks for the material!
 
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In consideration of the inflationary economy from our last episode, and being entrepreneurs within it... I was inspired to discuss more deeply the difference between fixed and variable expenses and why the fixed costs are not as big of a profitability concern as the variable ones.

I also give a brief discussion on cash flow vs income statements. I also think I mention the balance sheet in there too.
 

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Now I notice the difference in audio quality when the sponsorship clip comes up.

Do you ever slip up and say "Keep killing bigger" at the end and have to re-record it? I'm still expecting you to say it every time haha
 

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In consideration of the inflationary economy from our last episode, and being entrepreneurs within it... I was inspired to discuss more deeply the difference between fixed and variable expenses and why the fixed costs are not as big of a profitability concern as the variable ones.

I also give a brief discussion on cash flow vs income statements. I also think I mention the balance sheet in there too.
excellent episode. Loved it.

Equipment is my favorite type of capital expenditure. Like a gilded age industrialist, the more equipment you have churning out product (or providing services), the faster your income grows, the faster your balance sheet grows (your assets), and the faster your business value grows (what you can sell for).

It is an explosion of value, and ability to provide for more people.

In the age of information and with today's technology, this can go even further. The robots, the computer systems - all of it can work together to make a massive impact for the better. And it doesn't mean humans are not needed any longer - it means humans can now work on better tasks, with more leverage.
 
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Kak

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Now I notice the difference in audio quality when the sponsorship clip comes up.

Do you ever slip up and say "Keep killing bigger" at the end and have to re-record it? I'm still expecting you to say it every time haha
Haha almost every time but haven’t had to re record.

I stopped re recording stuff a long time ago. I just roll with it now.
 

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Business owners need not worry about normal inflation. Obviously hyperinflation throws everything out the window and the world becomes chaos, but inflation that just reduces the value of the dollar is just fine for business owners. We put those dollars to work doing things that don’t lose value. We pay employees, charge customers, etc.

The only harm inflation does is for the short period of time that cash sits in our pockets. If the pickles you sell cost $2.45 in a few months you’ll charge 2.65 for them. Employees get paid $16.23 an hour, give them a raise to 16.89 an hour.

Now, the man who has 18,000,000 in cash sitting in his bank account who is sitting around thinking “my nest egg oh no :(“ yeah he’s f*cked. Or at the very least, seriously bummed out.
Id suggest that if you paid $2.45 for pickles, and you sell it for $2.65

cost goes up to $2.75, you still have stock - selling at 2.65
you buy another batch at $2.75 - now you put the price up to $3.10

if you don't stay after your costs, they'll eat you up, but if you stay out ahead of the game you can make even more money. Example:

cost $2.45 - selling $2.65
cost $2.75 (selling stock that you bought at $2.45) you raise the price to $3.10
your making profit on the new value, plus the normal profit that you make. This allows you to buy larger inventory in advance if you know it's only going up.
Gotta be careful though, if prices go back down you could end up losing a lot of money.
 

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Id suggest that if you paid $2.45 for pickles, and you sell it for $2.65

cost goes up to $2.75, you still have stock - selling at 2.65
you buy another batch at $2.75 - now you put the price up to $3.10

if you don't stay after your costs, they'll eat you up, but if you stay out ahead of the game you can make even more money. Example:

cost $2.45 - selling $2.65
cost $2.75 (selling stock that you bought at $2.45) you raise the price to $3.10
your making profit on the new value, plus the normal profit that you make. This allows you to buy larger inventory in advance if you know it's only going up.
Gotta be careful though, if prices go back down you could end up losing a lot of money.
the idea of inflation happening so quickly that it ends up like this is hyperinflation which yes, that breaks the system.

The point is that business people deal in the current(ish) value of the dollar. I buy my pickles today, I sell them a week from now. I said the only risk we have with inflation is the short amount of time we are sitting there holding the bag.

We have next to zero risk with inflation compared to the poor chump with a wad of cash sitting around. He's the one who get's screwed, not us. Only hyperinflation does that and it only slightly affects us while the cash holder is now completely broke with nothing. The second the hyperinflation calms down we are back to business when pickles cost $900 and we buy them for $800 and the guy with a pile of cash cries himself to sleep each night.

I would argue that it might actually be good. That money supply went somewhere, and those fresh useless dollars are being used for our businesses, and those cash savers got wiped out. We have the means of production and it gives us a boost relative to the now broke cash saver.

The point is the real wealth is in the means of production and the business that solves a need. Needs are not subject to inflation. Needs will always trade with whatever society determines to be valuable.
 
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the idea of inflation happening so quickly that it ends up like this is hyperinflation which yes, that breaks the system.

The point is that business people deal in the current(ish) value of the dollar. I buy my pickles today, I sell them a week from now. I said the only risk we have with inflation is the short amount of time we are sitting there holding the bag.

We have next to zero risk with inflation compared to the poor chump with a wad of cash sitting around. He's the one who get's screwed, not us. Only hyperinflation does that and it only slightly affects us while the cash holder is now completely broke with nothing. The second the hyperinflation calms down we are back to business when pickles cost $900 and we buy them for $800 and the guy with a pile of cash cries himself to sleep each night.

I would argue that it might actually be good. That money supply went somewhere, and those fresh useless dollars are being used for our businesses, and those cash savers got wiped out. We have the means of production and it gives us a boost relative to the now broke cash saver.

The point is the real wealth is in the means of production and the business that solves a need. Needs are not subject to inflation. Needs will always trade with whatever society determines to be valuable.
You're right, of course.

Inflation is best for people with businesses, with great wealth (in assets, not cash), and with fixed debt.

I feel sorry for the little guy, because he gets screwed the most by inflation but by golly he just keeps voting the same way no matter what.

Anyway, your point is solid, in my opinion.
 

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the idea of inflation happening so quickly that it ends up like this is hyperinflation which yes, that breaks the system.

The point is that business people deal in the current(ish) value of the dollar. I buy my pickles today, I sell them a week from now. I said the only risk we have with inflation is the short amount of time we are sitting there holding the bag.

We have next to zero risk with inflation compared to the poor chump with a wad of cash sitting around. He's the one who get's screwed, not us. Only hyperinflation does that and it only slightly affects us while the cash holder is now completely broke with nothing. The second the hyperinflation calms down we are back to business when pickles cost $900 and we buy them for $800 and the guy with a pile of cash cries himself to sleep each night.

I would argue that it might actually be good. That money supply went somewhere, and those fresh useless dollars are being used for our businesses, and those cash savers got wiped out. We have the means of production and it gives us a boost relative to the now broke cash saver.

The point is the real wealth is in the means of production and the business that solves a need. Needs are not subject to inflation. Needs will always trade with whatever society determines to be valuable.
Thought you like to know: in our business, we manufacture things, and it pays to buy a years supply of product (25% or 50% savings)
so, that means we have half a years supply sitting on our shelves for some items (average) and some items shorter or longer than that.

we're not the only ones that do this type of thing, we buy from people who buy hardware from China (12 month lead time) and they need to keep a 6 month buffer on hand in case China decides to slow down production to the US. With Current events, we've decided to keep a 3 month buffer on Chinese items.
 

Kak

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