“Well, Saddam owed us money.” – Arrested Development
Maybe I should get more sleep.
It’s nearly Thanksgiving, and the next few weeks will be busy. Now that The Boy is off at college and no longer engaged in half a dozen activities, we’re down to just having to chase Pugsley around. Not so busy that there won’t be a full slate of posts – those are planned for the next few weeks, barring a change based on current events or me being distracted by shiny objects.
Today, though, I thought I’d change it up a bit, so here are a few random thoughts on business, economics, and wealth.
- The last economic crash was about a housing bubble. The next economic crash will be about our “everything” bubble where money flows faster to chase smaller and smaller returns.
- The biggest thing to crash after the next bubble pops will be money. It’s never fun when the value of money drops to zero, since having a little inflation is like being a little pregnant – not much happens at the beginning, but by the end everyone is yelling and screaming and covered in blood.
- The next economic crash will be the biggest in our lives.
- Or not. I’ve been wrong before.
- But I still think 2025 will be interesting.
- Most jobs don’t require thinking nowadays – they are a set of procedures and rules based on the lowest common denominator employee. The best jobs like this are at the DMV, which at least allow you to be mean and unpleasant, plus government benefits.
- Jobs that don’t require thinking can be paid at the lowest possible wage. If you’re lucky enough to be hired at Old MacDonald’s farm, I hope you can rise to the C-I-E-I-O position, but you’ll have to be out standing in your field.
- Businesses that do things immorally don’t automatically fail because they do things immorally – many immoral and even evil businesses flourish. It’s only in the movies that the good guys always win.
- When I gave career advice to The Boy, I advised him to build expertise and skills in things that couldn’t be done over the Internet or by an outsourced employee working in a country where the native language consists only of vowels, grunts, and humming noises but yet has 355 terms for “waddle”.
- Always be worth more to your company than your company is paying you.
- “What have you done for me lately?” is a good and fair question from any boss.
- The second mouse gets the cheese in the trap. No, I’m not going first.
- If it’s choosing between money and honor, choose honor. The bills might be more difficult to pay, but at least you can look yourself in the mirror. Until the power company cuts the electricity.
- Seriously though, choose honor.
- It’s the risk that you don’t take that you’ll regret. But you only hear successful people say that.
- Never build a business on what you love, since no one cares about medieval Norse poetry. Build a business on what you do that other people love and will pay for. You’ll learn to love it.
- Capitalism works great to allocate spoils in an expanding market. Capitalism fails in a contracting one. There’s nothing easy about the transition.
- Being short of money and optimistic about the future is better than having lots of cash and being pessimistic.
- Money can’t make you happy, but you can avoid most of life’s miseries by having a few hundred thousand dollars. Not every one of life’s miseries, but most of them.
- Whenever anyone says it’s not about the money, it’s really about the money.
- Whenever anyone says cost is no object, you can expect that statement to be proven false once the estimates arrive. Make them pay in advance.
- The reward for work well done is more work. This is actually a pretty good deal – we tend to buy video games built around this same premise.
- The rewards aren’t linear – the closer to the top, the greater the rewards. But you have to fight the big boss at the end before you retire.
- Great bosses are rarer than you might imagine. Most bosses are okay. Some are awful.
- The worst kind of boss is a weak boss. They will praise you when you don’t deserve it and sell you out when you don’t.
- Teamwork makes it easy to blame someone else.
- In America, when two men meet, they ask “What do you do?” Too often we equate ourselves with “what we do,” while forgetting we get to choose who we are. Unless you’re Johnny Depp, in which case you are stuck being Johnny Depp.
- If you find yourself dreading the alarm clock and not wanting to go to work you go anyway. It’s your job. If it’s too much? Find another job or retire.
- True story: a friend of mine had a sister that decided to retire one day when she was about 30. She was shocked when the checks stopped coming, she seemed to think that when you retired, the company had to keep paying you. I think she’s a Bernie® voter now.
- Me? I’m trying to start thinking about retirement before my boss starts thinking about my retirement.
- When I was first hired into a job, I heard a statistic that 70% of a typical workday for a typical employee was unproductive. I was shocked that the figure was so high.
- Now, after working for years, I’m shocked that the figure is so low. I tried to come up with jokes about lazy people, but they just won’t work.
- Meetings often happen just because they’re on the schedule. Look like you’re paying attention and don’t sleep, no matter how quickly it makes the meeting go.
- I had a friend who worked at the Unemployment Department who got fired. He still had to show up the next day.