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<blockquote data-quote="socaldude" data-source="post: 908924" data-attributes="member: 8888">I think it’s also helpful to think why a product or service fails.&nbsp; It’s because the actual act of setting up that business within an economic system is a mis-allocation of resources and an inefficiency.&nbsp;&nbsp; It’s incompatible with the macro and micro forces constantly trying to maximize utility.It’s helpful not to think of entrepreneurship in terms of cash money stuffed in duffel bags and woman dancing in bikinis but rather who can identify gap inefficiencies in markets or mis-allocation of resources.&nbsp; It’s possible for a market to be out of equilibrium and participants not aware.&nbsp; That’s how it’s possible to do something “that’s never been done” or “something that’s already being done”.Filling the gap is where money gets allocated. You make money cause you actually made the effort to imitate parameters outside yourself.&nbsp; Abstract economic concepts I know but they serve as powerful axiomatic tools for altering perception.&nbsp; Gives a little clarity as to the chaos around you.</blockquote>

[QUOTE="socaldude, post: 908924, member: 8888"] I think it’s also helpful to think why a product or service fails. It’s because the actual act of setting up that business within an economic system is a mis-allocation of resources and an inefficiency. It’s incompatible with the macro and micro forces constantly trying to maximize utility. It’s helpful not to think of entrepreneurship in terms of cash money stuffed in duffel bags and woman dancing in bikinis but rather who can identify gap inefficiencies in markets or mis-allocation of resources. It’s possible for a market to be out of equilibrium and participants not aware. That’s how it’s possible to do something “that’s never been done” or “something that’s already being done”. Filling the gap is where money gets allocated. You make money cause you actually made the effort to imitate parameters outside yourself. Abstract economic concepts I know but they serve as powerful axiomatic tools for altering perception. Gives a little clarity as to the chaos around you. [/QUOTE]

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