An asset is the foundation of all economic activity. If you have assets, you can run a business and settle your debts. The ways to create assets are ‘how one works,’ ‘how to receive gifts from others,’ and ‘how to purchase assets made by others.’ There is a way to steal, but it is a crime. If you don’t initially own an asset, the simplest and almost the only way to create one is to produce something with your own labor. Whether the product is a service or a good, it must be produced unconditionally. Trading products creates added value. Thinking about trading later and making products first is the fastest and most basic way to escape poverty. Therefore, produce even the smallest things every day. Knowledge, records, art—whatever! - Joseph’s “just my thoughts”
Genghis Khan, emperor of the Mongol Empire, had a remarkable subordinate general named Yesun Bei. Although Yesun Bei was an extraordinary warrior, Genghis Khan refrained from giving him military authority to command. This decision stemmed from Yesun Bei’s belief that others were similar to him; he became frustrated when they couldn’t perform as well as he could. Without empathy, individuals cannot show respect, and without respect, people do not follow their superiors. - Joseph’s “just my thoughts”