I think this would be useful to keep in mind the next time some consumer advocate tells you you're stupid to pay a premium for brand names.
I think society should have a few dreamers. But there are two problems:
- There are way, way more applicants for the job than there are openings.
- Even for blue-sky dreaming, there should be some attempt to separate dreams from fantasy and sheer craziness. The time and whatever resources were devoted to trying to spin straw into gold were a complete waste.
I think Elon Musk is not a dreamer but a BS artist. Here's a seemingly careful attempt to support that thesis.
Probably coming soon to a big city near you.
I really like pieces like this that reveal the accounting of a real business.
(Maybe I'm crazy, but less than $500/employee for one half of the employees' health insurance is much less than what I would have expected. And how does the owner get by on a profit of just 1.8% of income? Non-pecuniary benefits of ownership?)
Not to worry: I'm absolutely sure--sure I tell you--when the pharma companies come up with something the critics will properly appreciate their effort. (Or as Madonna snapped in a famous SNL sketch with Mike Myers, "And monkeys might fly out of my butt!")
Crunchy--potato chip crunchy, not carrot crunchy--is good.
It would have been nice if they could have spoken to the student now.
I used to tell my students this: if you see one or more profit-seeking businesses doing something really odd and unprofitable, ask whether or not government regulations are involved. Not always, but it's definitely worth checking.
Not the story usually told.
It's a mystery to me how otherwise savvy entrepreneurs fail to anticipate entry.