You didn't know that the federal government was protecting you from inferior frozen cherry pies, did you? Sheesh.
Related: "F.D.A. Wants to Stop Regulating French Dressing".
I suggest that you spend a few minutes reading a story--reflecting the political and economic situation of the U.S. of A. right now--about the FDA and a malign effect of Big Pasta: "What the Hole Is Going On? The very real, totally bizarre bucatini shortage of 2020."
Interesting account of the workings of Amazon's marketplace for third-party sellers.
More and better meal kits would be fine.
"Inconvenient" is right.
"The inside story of a black sheep hedge fund, their massive bet that shopping malls would crash, and how they proved Wall Street wrong."
Shorts get vicious contempt from a lot of people. That contempt seems, at best, unnecessary. If they're wrong they tend to lose their shirts. And when they're right they perform a hugely valuable service in exposing "aggressive" accounting and outright fraud.
"Go figure." Indeed.
"But according to recent research [now almost four years old--CN] from Pian Shu, an economist at Harvard Business School, the kinds of students who end up working for Goldman Sachs or Merrill Lynch aren’t always the best, the brightest — or the most innovative."
I hadn't heard of Shopify before the virus outbreak. But they are a big deal. And--what a surprise--they could well shape up to be a major competitor to Amazon. (I thought Amazon was a dirty monopolist. Who knew?)
Paul Graham, esteemed co-founder of Y Combinator, has a column which nicely combines two important points. Number 1: how should startups try to raise money?
If I had to decide whether to fund startups based on a single question, it would be "How do you know people want this?"
The most convincing answer is "Because we and our friends want it." It's even better when this is followed by the news that you've already built a prototype, and even though it's very crude, your friends are using it, and it's spreading by word of mouth. If you can say that and you're not lying, the partners will switch from default no to default yes. Meaning you're in unless there's some other disqualifying flaw.
Number 2, do billionaires "exploit" people?
One thing few people realize about billionaires is that all of them could have stopped sooner. They could have gotten acquired, or found someone else to run the company. Many founders do. The ones who become really rich are the ones who keep working. And what makes them keep working is not just money. What keeps them working is the same thing that keeps anyone else working when they could stop if they wanted to: that there's nothing else they'd rather do.
That, not exploiting people, is the defining quality of people who become billionaires from starting companies.
On this second point see also: "AOC’s Latest Viral Post Flunks Econ 101".