Rejection Cost. From the perspective that my profit is someone else’s loss, and someone else’s profit is my loss, the fact that I have to reject an opportunity to make money for my circumstances is a loss for me and an act of giving someone else a profit. In other words, my added value is not determined solely by productivity but also by the marginal utility generated by the law of supply and demand. Therefore, my labor price should reflect the value that I have given up—the profit I could have gained. If the rejection cost is not included in my profit, I will be at a loss to that extent. Failing to account for rejection costs in production expenses is not wise, but foolish, because it risks my survival. There is no absolute value in this world. All economic values are relative. - Joseph’s “just my thoughts”
A significant part of the business involves a productivity problem, and humanity has addressed this issue through the use of tools. During the era of industrialization, machines served as the primary tools of production, but in the information age, software has largely supplanted hardware. Additionally, smartphones have made both hardware and software more accessible. These digital tools, known as apps, are easy to duplicate and distribute; however, they only become impactful in reality when the hardware, referred to as a computer, is widely distributed. Yet, the reality remains that humanity still doesn’t fully understand the tools at its disposal. As people don’t recognize the true potential of a smartphone, don’t they simply use it only as a phone book, right? - Joseph’s “just my thoughts”