Crisis overcoming and development both begin with “what I have,” not “what I have lost.” “What I have” consists of [everything I possess now, including what I lent to others] minus [what I’ve borrowed from others], [what I’ve inherited], [what I’ve received as gifts], and [what I’ve taken unlawfully]. [What I have] + [What I’ve inherited] + [What I’ve received as gifts] is referred to as [own assets] or [net assets], which includes [something I borrowed], and subtracting [something stolen] in my possession, it is called [asset]. To pay off the liabilities (debts), you must have [net assets] or possess [something I borrowed from others]. The only other way to do this is to repay with [something I stole]. The ultimate goal of any business activity is to acquire [assets]. - Joseph’s “just my thoughts”
One reason for the Dutch’s wealth was the strong trust between the merchants and sailors responsible for trade. Captain Willem Barentsz failed in 1596 while attempting to open a northeast route to the Far East via Novaya Zemlya in the Arctic Ocean. An accident occurred in which 8 out of 18 sailors died after being trapped in glaciers at temperatures of -40 degrees for 8 months, marking a setback for the development of a new maritime route. However, the captain and crew did not disturb the cargo, and on June 13, 1597, they split into two small ships and escaped the glacier. Fifty days later, they were rescued by a Russian merchant ship. Captain Barentsz died on the journey home, but the crew returned the consigned cargo to its owners intact after getting home. Trust means taking your life as collateral. Business is built on this trust. - Joseph’s “just my thoughts”