Blake Ross, Firefox co-founder
"The next big thing is whatever makes the last big thing usable."
If we analyze the statement above from Blake Ross, we find something surprising that perhaps we never really thought about: how millions of people "quietly" make money.
Can you guess how they do it?
Banking!
It's simple: you put a certain amount of money in the bank, and make it available to other people who want to use it. You are then rewarded by "interest", expressed as a percentage of the money you deposited.
What would happen if, instead of putting your money in the bank, you kept it under your mattress?
Well, after one year (or 10 years), you would find that your money is still there, but you are not richer at all. In fact, you are poorer because of inflation!
Also, every time you got out of your house, you would worry that a burglar would come into your house and steal your money (of course, they can rob banks also, but it's federally insured.)
So while it is true that most capitalists and entrepreneurs make their money from "ownership" (they own the means of production, and then hire labour to operate those means of production), for the majority of people, wealth comes from "usership": that is, you have to put your money in a place where others can use it freely.
In the next posting, I'll write about how you can put your valuable knowledge in a "bank" so that you can get compound interest from your knowledge as well.
If we analyze the statement above from Blake Ross, we find something surprising that perhaps we never really thought about: how millions of people "quietly" make money.
Can you guess how they do it?
Banking!
It's simple: you put a certain amount of money in the bank, and make it available to other people who want to use it. You are then rewarded by "interest", expressed as a percentage of the money you deposited.
What would happen if, instead of putting your money in the bank, you kept it under your mattress?
Well, after one year (or 10 years), you would find that your money is still there, but you are not richer at all. In fact, you are poorer because of inflation!
Also, every time you got out of your house, you would worry that a burglar would come into your house and steal your money (of course, they can rob banks also, but it's federally insured.)
So while it is true that most capitalists and entrepreneurs make their money from "ownership" (they own the means of production, and then hire labour to operate those means of production), for the majority of people, wealth comes from "usership": that is, you have to put your money in a place where others can use it freely.
In the next posting, I'll write about how you can put your valuable knowledge in a "bank" so that you can get compound interest from your knowledge as well.
posted by Super Peter at 2:10 PM
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