I was tricked into thinking I had “grit”

Post by chepaslaaa » Wed, May 06, 2020, 4:58 PM UTC

mardifoufs wrote: post #127

koheripbal wrote: post #97

Earlier quoted context omitted.

...and that's why he also said on Monday: "If you took someone and asked them, without them knowing whether they'd be born boy or girl, black or white, with or without any relevant talent, or to rich or poor parents, and asked them when and where they'd like to be born. They'd answer, 'The US, in modern times'. There is no place on Earth, and no time in history, that a person can make the most of their talents, as to…

I see how it could sound weird to the eyes of an American, but the only place where I think his statement would be incorrect is Western Europe. A part from that I'm confident that a majority of people around the world would very much like to either have been born in the US or give their children the opportunity to live there. At least where I'm originally from, emigration to the US is seen as an an incredibly desirab…

Post by notJim » Wed, May 06, 2020, 5:04 PM UTC

oska wrote: post #98

wegs wrote: post #89

Earlier quoted context omitted.

Why do you think he's a parasite? He seems to live a modest life, and work very hard to make the economy work more efficiently. He's giving almost all of his money to philanthropic causes, and seems to campaign for all the right causes. He maintains a pretty low profile for his level of success (he doesn't even support philanthropy through his own family foundation; he went with Gates, since he thought they'd do a be…

I think his claim to be a beneficial 'allocator of capital' is bogus. He tends to invest in established exploitative companies. His investments have been made on an almost exclusive basis of growing wealth, which in the end is a very sterile end to aim for. > I'll tell you why I like the cigarette business. It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty. — Buffett,…

Post by projektfu » Wed, May 06, 2020, 5:15 PM UTC

unreal37 wrote: post #141

oska wrote: post #98

Earlier quoted context omitted.

I think his claim to be a beneficial 'allocator of capital' is bogus. He tends to invest in established exploitative companies. His investments have been made on an almost exclusive basis of growing wealth, which in the end is a very sterile end to aim for. > I'll tell you why I like the cigarette business. It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty. — Buffett,…

That article starts with an incorrect premise. "America isn’t supposed to allow moats, much less reward them. Our economic system, we claim, is founded on free and fair competition." That's called a straw man. No one has ever said America "doesn't allow moats" and that there is "free and fair competition". The whole point of business is, within the law, to build a moat that makes it impossible for a late-starting com…

Post by projektfu » Wed, May 06, 2020, 5:26 PM UTC

secondbreakfast wrote: post #23

kstenerud wrote: post #20

Boxer (Animal Farm) had grit. Whenever things got tough, he'd say "I will work harder!" After his death, his saying became a mantra and model for other good citizens to follow.

I revisited Animal Farm a few months ago. There are more and more mornings now where I'm reading the news, thinking about our world, and reminded of the animals on that farm.

Post by kansface » Wed, May 06, 2020, 5:47 PM UTC

Tade0 wrote: post #58

kstenerud wrote: post #20

Boxer (Animal Farm) had grit. Whenever things got tough, he'd say "I will work harder!" After his death, his saying became a mantra and model for other good citizens to follow.

I worked for a few companies whose mode of operation was exactly that. This works so long as there's a steady supply of young, talented people but falls flat on its face when the company tries to scale up its business.