Founders often start a business without understanding their profit model. People are more likely to fail because they only think, “I have to work!” and don’t truly grasp how and why they can make money from it. They don’t understand the concept of capital, meaning the basic funds, nor do they understand the founder’s equity. They have heard the terms often but don’t really know their meaning or importance. They don’t recognize it, although they may have heard of it a lot. You start a business and partner with others without knowing whether your return is the reward for taking risks, giving up current interests, or sacrificing competitors. Understanding this is a fundamental part of entrepreneurship. Yet, in reality, they run their business without considering these issues simply because they need to work and can do so at the moment. - Joseph’s “just my thoughts”
When individuals perform tasks that money typically does, they become enslaved to money. Even when these means come to an end, they remain bound to money. Therefore, it is not the abundance or lack of money that enslaves humans, but rather ignorance and greed—qualities that fail to recognize the purpose and utility of money —that lead to this enslavement. Ultimately, it is a philosophical issue. - Joseph’s “just my thoughts”