Inequality much worse than most think

[jr429]

Re: Inequality much worse than most think

It smells of corruption just not on your end. That margin would be annihilated in a real market. Trust me, I was a professional.

Respectfully you've been jumping to conclusions all day.

MSRP $417
118% VAT $492.06
AVG WHOLESALE PRICE $650
GROSS PROFIT = $157.09

What was hard about this deal was not selling the phones or legally importing them. It was getting the phones. Apple placed a soft cap of 3x phones per customer. He wanted to do a repeat when the Iphone 4 came out. No dice.

Don't worry about the margins - I AM a professional.

[gwynedd1]

Re: Inequality much worse than most think

You mean gray marketing? Like Costco? Shame on Costco.

I think you're the one missing the point - with hardwork, aggressiveness, and a little luck most americans still have the opportunity to succeed.

I spent too much time isolating main effects to accept this as anything but motivational speaking. Yes, the US is a long way off from no opportunity today, even for decades to come.

Who cares if I made $50k on an Iphone deal or got a 500HP car from another? The point was I started near zero. Just like my parents who immigrated into this country with essentially nothing.

It smells of corruption just not on your end. That margin would be annihilated in a real market. Trust me, I was a professional.

I agree with you that it's harder and things have gotten more unfair with the broken political and economic system that we currently face. But the opportunities presented to hard-working americans are still much more favorable compared to MOST places in the world. Despite being side-tracked a few times (as you can see I love to argue) that has been my point for Post #1

I have little interest in the motivational speaking anecdotal aspects of it so I could see why. I merely hope one day some society can avoid the large estate problem that destroys human progress. We don't even know what we are losing because it is not something that shows up on the financials.

[dropthatcash]

Re: Inequality much worse than most think

Very good TBBNF. TY.

It is disheartening to know that the pet dogs of the rich eat better than the majority of the worlds children.

We've been sending food at least since 1946 when UNICEF was founded. Result, Africa fuel with this free food has has a population bloom from 180 million in '46 to over a billion and climbing to 2 billion in another 35 years.

The road to hell is paved...

[gwynedd1]

Re: Inequality much worse than most think

I my experience that is a big component in how one get's ahead. You also have to be prepared, work hard and have a little luck.

I hope people do get ahead, just not with some privilege ultimately traceable to government. Those import tariffs for example are ripe opportunities to control the channels of arbitrage. I did the same thing only in my case searched for warehouses in low cost of living areas domestically and arbitraged them into high cost areas. I moved enough to buy direct. I was in a position to extort the 3m rep because I was arbitraging it out of his area, and he wasn't getting credit for it. So I got to buy direct. That doesn't get me margins only some government restricted channel can make. I have perfectly Machiavellian talents too. Some items were like cash, and I could get them for a nickel less than my competition. I even exchanged them to a warehouse that could only credit me an exchange instead of buying them and they paid me in 413 and 418 tire valves.

http://www.tcpglobal.com/AutoBodyDep...FVBgMgoddHUAmw



But that is a market, not FIRE sector and government.

[jr429]

Re: Inequality much worse than most think

I work in investment management. The business I want to start costs many hundreds of thousands or more to start not 15k.

Sure I would love to start a manufacturing business actually producing goods in the real economy but the capital outlay for that is in the millions.

Sure I could possibly go start a fast casual restaurant but perhaps thats not my passion nor what I want to do?

I suspect Jr is Asian.....

I don't consider investment management or manufacturing impossible to start without capital - just got to get creative...

LOL asian? 50/50 shot and you took it huh?

[ProdigyofZen]

Re: Inequality much worse than most think

Un-average opportunity?? Per my previous post my wife and I survived off $2500/month for 3 years. And that TOTAL amount is $90k. At $60k/year you should be able to save that in 4-5 years. If you want to start a business do it now and stop making excuses. Most people don't have the stamina to do it correctly after kids come. Any college educated american with an idea that wants to put in the hard work can do this. I have a few friends that started successful ventures at the same time - some were wildly successful. But the reality is while I slaved away for 6+ years before I sold my business most of my friends were drinking, smoking, and partying. Hell I have a friend who's a small-time politician that was too busy doing coke now champion of obamacare and social safety net. We missed out on a lot of that. Maybe that's why we're leaving for vegas tomorrow. But I'm only a few years older than you, that opportunity is available to most college attending americans. IT IS STILL AVAILABLE TO YOU NOW. I started my second venture in 09.

I work in investment management. The business I want to start costs many hundreds of thousands or more to start not 15k.

Sure I would love to start a manufacturing business actually producing goods in the real economy but the capital outlay for that is in the millions.

Sure I could possibly go start a fast casual restaurant but perhaps thats not my passion nor what I want to do?

I suspect Jr is Asian.....

[jr429]

Re: Inequality much worse than most think

I my experience that is a big component in how one get's ahead. You also have to be prepared, work hard and have a little luck.

Maybe true but I would say I built most of my connections through the work that I do. A lot are friends now. But not at the time. My friend (now) that coordinate the Iphone deal I met on AOL chat room in college talking about work LOL. But I agree with you it's all about the network. Especially in Asia.

[jr429]

Re: Inequality much worse than most think

Jr you are reading into what I wrote too much and projecting on me.

I am saying that you had an opportunity that most average americans will never get. Do you not see it?

Rich kids get that same opportunity you got virtually. They have their parents pay for everything (they dont have to worry about food or shelter) and they can build their business or whatever activity they wish to do.

I wish someone would let me live frugaly for 3 years and paid most or all of my expenses so that I could work on a business but no one is going to do that for me.

Un-average opportunity?? Per my previous post my wife and I survived off $2500/month for 3 years. And that TOTAL amount is $90k. At $60k/year you should be able to save that in 4-5 years. If you want to start a business do it now and stop making excuses. Most people don't have the stamina to do it correctly after kids come. Any college educated american with an idea that wants to put in the hard work can do this. I have a few friends that started successful ventures at the same time - some were wildly successful. But the reality is while I slaved away for 6+ years before I sold my business most of my friends were drinking, smoking, and partying. Hell I have a friend who's a small-time politician that was too busy doing coke now champion of obamacare and social safety net. We missed out on a lot of that. Maybe that's why we're leaving for vegas tomorrow. But I'm only a few years older than you, that opportunity is available to most college attending americans. IT IS STILL AVAILABLE TO YOU NOW. I started my second venture in 09.

[jr429]

Re: Inequality much worse than most think

But yes, I think you made 50k though an iphone deal based upon the information you gave me with "connections". And based upon my experience in that quantity, that kind of margin is often made by bypassing legal channels. I could make that easy in E Europe and Russia bypassing customs even recently with Monster High 13 dolls. I shipped a draft table out to a friend because they could not even buy it there. All I would need really is one one dirty bureaucrat.

I think you missed the point. You gave a simple example of easy money all while preaching the merits of hard work. Your original capital might be made from hard work, and I have heard the same arguments form people who "worked hard" to purchase privileges like real estate.

You mean gray marketing? Like Costco? Shame on Costco.

I think you're the one missing the point - with hardwork, aggressiveness, and a little luck most americans still have the opportunity to succeed. Who cares if I made $50k on an Iphone deal or got a 500HP car from another? The point was I started near zero. Just like my parents who immigrated into this country with essentially nothing.

I agree with you that it's harder and things have gotten more unfair with the broken political and economic system that we currently face. But the opportunities presented to hard-working americans are still much more favorable compared to MOST places in the world. Despite being side-tracked a few times (as you can see I love to argue) that has been my point for Post #1

[santafe2]

Re: Inequality much worse than most think

...but then again I guess everything we do is either from "connections" or from "past experience" no?...

I my experience that is a big component in how one get's ahead. You also have to be prepared, work hard and have a little luck.

[gwynedd1]

Re: Inequality much worse than most think

American Naivety heh. How many times have you actually been to China? Have you taken the time to learn to speak, read, write mandarin?

No , that would apply more or less to Russia and Eastern Europe in my case.

How do you think I got the 400k to buy Iphones? Mommy and daddy?

Huh, suddenly you have the time. And why not just assume as you have? Obviously I am stupid and naive not ever having been to China and clearly nowhere else by your assumptions.
That is not to mention stupid and niave enough to buy it you don't have the time to state a simple justification of ownership while continuously posting otherwise.

I started my business as a super-senior in college with my wife (gf at the time) with borrowed $15k. I didn't earn a paycheck for 3 years my wife supported me by working 2 jobs. Are you implying I got my connections through mommy and daddy?

No, I am saying you made money on that deal with connections. I am not implying anything.

Or do you think my connections were built over the years and strengthened after successful deal after deal?

Did it go through customs or not?

And you really think I made my money through Iphones? I just brought up Iphones because it was brought up to someone else. For fun in 2010 I picked up 76 Nissan GTR engines a deal which no one would touch and successfully flipped them by solving several issues with them. Got a free $100k car and some pocket change of it. It's certainly not my job but it is fair to say I heard about this deal and was able to flip these motors because of "connections too" - but then again I guess everything we do is either from "connections" or from "past experience" no?

I've been reading this forum for many years now and lately there's a lot of mis-directed anger from obviously very intelligent people. A little disappointing...

No, actually not all things are made through "connections".

But yes, I think you made 50k though an iphone deal based upon the information you gave me with "connections". And based upon my experience in that quantity, that kind of margin is often made by bypassing legal channels. I could make that easy in E Europe and Russia bypassing customs even recently with Monster High 13 dolls. I shipped a draft table out to a friend because they could not even buy it there. All I would need really is one one dirty bureaucrat.

I think you missed the point. You gave a simple example of easy money all while preaching the merits of hard work. Your original capital might be made from hard work, and I have heard the same arguments form people who "worked hard" to purchase privileges like real estate.

[ProdigyofZen]

Re: Inequality much worse than most think

You're suggesting the sole reason my business was successful was because my GF supported me for 3 years? That's an interesting perspective...

In my opinion any successful entrepreneur = 10% Luck + 40% Intelligence + 50% Aggressiveness

BTW I do consider myself very lucky. The sole reason my business was successful is my wife is a genius not because she supported us (we were profitable, our boot-strap growth rate would just have been lower). She figured out how to do all of accounting, financial infrastructure, and taxes so I could focus on the business.

Jr you are reading into what I wrote too much and projecting on me.

I am saying that you had an opportunity that most average americans will never get. Do you not see it?

Rich kids get that same opportunity you got virtually. They have their parents pay for everything (they dont have to worry about food or shelter) and they can build their business or whatever activity they wish to do.

I wish someone would let me live frugaly for 3 years and paid most or all of my expenses so that I could work on a business but no one is going to do that for me.

[jr429]

Re: Inequality much worse than most think

So you had your GF supporting you for 3 years, that is no different than someones parents supporting them for 3 years while they worked on a business.

I wish my father would do that. If I suggested even 1 year he would laugh in my face.

Consider yourself lucky and one of the few that even has that here it comes again "opportunity."

Imagine if you had to actually work a full time job and try to start the business plus manage your finances etc.

It would have been harder.

You're suggesting the sole reason my business was successful was because my GF supported me for 3 years? That's an interesting perspective...

In my opinion any successful entrepreneur = 10% Luck + 40% Intelligence + 50% Aggressiveness

BTW I do consider myself very lucky. The sole reason my business was successful is my wife is a genius not because she supported us (we were profitable, our boot-strap growth rate would just have been lower). She figured out how to do all of accounting, financial infrastructure, and taxes so I could focus on the business.

[ProdigyofZen]

Re: Inequality much worse than most think

"Don't be so modest, vt. Wear that 1% crown with pride! You built it, right?"

So you throw out negative remarks like this and get upset with documented reasoning?
Just debate the issues and support them instead of some childish remark. Or maybe you cannot support your contentions.



"If elected I believe Romney-Ryan will unwind FIRE and promote TECI."

http://www.forbes.com/sites/kenrapoz...thcare-reform/

At least Romney can set up a health plan that runs right

Perhaps Romney would have done a good job of getting TECI going; Obama certainly has not.

Hey VT, please dont let the FIRE economy interests pull you into the trap of thinking that there are actual two parties that have diametric views opposite of each other.

We know both parties are one in the same and the FIRE interests distract the populace making these issues right vs left.

[Woodsman]

Re: Inequality much worse than most think

"Don't be so modest, vt. Wear that 1% crown with pride! You built it, right?"

So you throw out negative remarks like this and get upset with documented reasoning?
Just debate the issues and support them instead of some childish remark. Or maybe you cannot support your contentions.



"If elected I believe Romney-Ryan will unwind FIRE and promote TECI."

http://www.forbes.com/sites/kenrapoz...thcare-reform/

At least Romney can set up a health plan that runs right

Perhaps Romney would have done a good job of getting TECI going; Obama certainly has not.

You really think I'm defending the Obama and the Dems here? Is that what you think this is about, vt? Okeydokey.