Chamath Palihapitiya Interview

This interview with Chamath Palihapitiya raises many thought-provoking questions for entrepreneurs:

Interesting questions:
– What is your vision for 2045? If you don’t have one, why not?
– If you only have one brain, are you happy with your decision about how to train it (social media) for what else you need it to do?
– What is your opinion of capital?
– Do you agree with his assertions about how the world works and who wields power?
– Are the projects you’re working on aimed at short term goals or long term goals? Are you happy with that?

Ron Paul’s Farewell Speech

Prior to retiring from the U.S. Congress, Dr. Ron Paul gave this speech in November 2012:

Regardless of one’s views, honest discussion of these topics would be good for us all. This is much bigger than dumb Red vs Blue partisanship.

How to Make 100 Dollars Fast

Whether you need a jacket, a new game, or something serious in a hurry, here’s a common question people have: “How am I going to make $100, fast?!

Here are the 100 10 easiest ways to make $100 in a hurry: (from full 100 ways here)

10. Monetize your Photos – Follow the instructions at Staree, use your social media account, and collect the cash. This is unbelievable to someone who doesn’t understand today’s social media business environment, but the cash they’ll pay you to do this is real. More info here:

9. Yak it up on Twitter – Tweet on a topic and get paid to do it. Believe it not, this is how the world works. So why not profit from it? More info here:

8. MySurvey – Lots of prizes, rewards, points, and so on. If you invite your friends to join, you’re eligible for a bonus too. Begin here:

7. Mystery shoppers are hired by businesses to shop at their own stores undercover. The mystery shoppers then report back to the businesses, telling what they found, what they thought, and most importantly how the employees were. Get paid to eat out, buy clothes, review customer service, and so on.

6. Find it in Carwash Vacuum Cleaners – All those people who suck up dirt and leaves from the interiors of their cars are also sucking up stray coins. Many car wash vacuum cleaners have a removable bucker on the bottom that collects the dirt over the course of the day. For a busy car wash, there’ll be a regular supply of coins on a daily basis, right in the “garbage” that would otherwise be thrown out. Luckily, being at a car wash, it’s easy to clean the coins in no time. The odd bill will show up in the vacuums too, even $20s on occasion.

5. Creative Street Begging – Make a creative sign, craft a witty one-liner, or otherwise get people on the street to give you spare change.

4. Convert Ideas into T-Shirts with – You’ll sell as many t-shirts as you’re clever enough to sell. CafePress is one of the top destinations for customers and micro-sellers in the world.

3. Participate in Clinical Trials – Health researchers are frequently looking for test subjects for new research projects. Fully understand the risks before you sign up for anything, though, since your health is at stake. (!!)

2. Amazon – Sell virtually anything. Amazon carries a lot more than just books, CDs and movies. Here’s the starting page for their affiliate program:

1. iTunes – Know anyone who buys and/or rents music, TV shows, games, audio books, podcasts, or documentaries? Then why aren’t you getting in on the action and getting paid every time they use Apple’s store? Start here:


Some of these ideas are quicker than others (and some are more likely to make $100 than others), but hopefully this helps you get that $100 in a week or a day!

From the full collection at Make 100 Dollars


Do Tax Cuts Favour the Rich?

Newspapers and upset mobs commonly assume the tax cuts unfairly favour the rich. However, the following piece by the University of Georgia’s David R. Kamerschen (Professor of Economics) makes this BS clearer to understand.


Bar Stool Economics

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.

So, that’s what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until on day, the owner threw them a curve. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20.” Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men – the paying customers? How could they divide the $20 windfall so that everyone would get his ‘fair share?’ They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33% savings).
The seventh now pay $5 instead of $7 (28% savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.

“I only got a dollar out of the $20,” declared the sixth man. He pointed to the tenth man,” but he got $10!”

“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar, too. It’s unfair that he got ten times more than I!”

“That’s true!!” shouted the seventh man. “Why should he get $10 back when I got only two? The wealthy get all the breaks!”

“Wait a minute,” yelled the first four men in unison. “We didn’t get anything at all. The system exploits the poor!”

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

David R. Kamerschen, Ph.D.
Professor of Economics
University of Georgia

CDS is Crazy

Joe: We’re both broke.

Sue: Let’s each loan each other $100. You can spend your $100 since you know I owe you $100. I can spend mine since I know you owe me.

Joe: Cool. What should we call this so people take us seriously?

Sue: Something stuffy and official so it sounds legit.

Joe: How about “Credit Default Swap?” We’re swapping credit.

Sue: CDS for short.

Joe: Great. Now we’re not broke anymore, at least until other people find out what we’re doing.

Sue: That’ll never happen.

CDS is really happening around the world. Somehow we all owe each other billions of dollars. Don’t say you didn’t see the end of the game coming.

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