A ‘transaction’ is an act of debt between parties. The seller owes goods to the buyer (performance debt), and the buyer owes money to the seller (monetary debt). A transaction is considered complete when the debt is settled and the promise to owe each other is called a ‘contract.’ Thus, a good trader or businessman excels at making and repaying debts. When it comes to debt, the type of debt matters. Anyone who misjudges this should not engage in business. - Joseph’s “just my thoughts”
Can we sell pesticides to the Maasai? In Maasai culture, flies represent wealth. Ranching and livestock inherently attract flies. If someone arrives and removes the flies, there is no Maasai to welcome them. The focus of the business is not on selling products but on conveying “meanings.” - Joseph’s “just my thoughts”