Business Financing Quotes

When you work on something that only has the capacity to make you 5 dollars, it does not matter how much harder you work – the most you will make is 5 dollars.

Your comfort zone is a place where you keep yourself in a self-illusion and nothing can grow there but your potentiality can grow only when you can think and grow out of that zone.

A strong business idea with a profitable future will no doubt attract better financing rather than the other options.

Your VISION and your self-willingness is the MOST powerful elements to conquer your goal

Businesspeople are like sharks, not just because we're gray and slightly oily, or because our teeth trail the innards of those we have eviscerated, but because we must move forward or die.

Net Income is more important than gross revenues.

...when women gain control over spending, less family money is devoted to instant gratification and more for education and starting small businesses.

For nearly four years you have had an Administration which instead of twirling its thumbs has rolled up its sleeves. We will keep our sleeves rolled up. We had to struggle with the old enemies of peace--business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering. They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.

Don’t live like a CEO when you’re still a sandwich artist.

A bull market is like sex. It feels best just before it ends

Businesses, like people, should have multiple sources of income.

The virtues of free enterprise can become distorted by greed & delusion.

Wealth is a person’s ability to survive a certain number of days forward.

Autumn is a momentum of the natures golden beauty…, so the same it’s time to find your momentum of life

Hedge funds have made massive leveraged credit bets, knowing that their upside is billions in fees and their downside is millions in fees.

How you think and create your inner world that you gonna become in your outer world. Your inner believe manifest you in the outside

Not a single person has died of boredom reading this book.

He looked at my lips. I suddenly found myself wanting to lick his. 'Yes,' he replied, his eyes going molten. My breath caught in my throat as he reached out and brushed a strand of hair where it had flown across my cheek. 'I believe we do have unfinished business.' 'Good.' I gulped, suddenly one big mass of tingling body parts that wanted an immediate introduction to all of his body parts. I tried to slam down a mental barrier between his mind and mine, but it did no good. The cheerleaders in my groin were setting up fundraising car washes to finance a field trip to his groin.

Your traditional EDUCATION is not going to CHANGE your life but the life you are experiencing that can change you. Choose a POSITIVE life STYLE with positive ATTITUDE which could bring you a life with HAPPINESS and WISDOM

I think decentralized finance and traditional banking are going to experience a kind of hybridization within the next few decades; a blending together that results in something greater than the sum of its parts.

I’M LOSING FAITH IN MY FAVORITE COUNTRY Throughout my life, the United States has been my favorite country, save and except for Canada, where I was born, raised, educated, and still live for six months each year. As a child growing up in Waterloo, Ontario, Canada, I aggressively bought and saved baseball cards of American and National League players, spent hours watching snowy images of American baseball and football games on black and white television and longed for the day when I could travel to that great country. Every Saturday afternoon, me and the boys would pay twelve cents to go the show and watch U.S. made movies, and particularly, the Superman serial. Then I got my chance. My father, who worked for B.F. Goodrich, took my brother and me to watch the Cleveland Indians play baseball in the Mistake on the Lake in Cleveland. At last I had made it to the big time. I thought it was an amazing stadium and it was certainly not a mistake. Amazingly, the Americans thought we were Americans. I loved the United States, and everything about the country: its people, its movies, its comic books, its sports, and a great deal more. The country was alive and growing. No, exploding. It was the golden age of life, liberty, and the pursuit of happiness. The American dream was alive and well, but demanded hard work, honesty, and frugality. Everyone understood that. Even the politicians. Then everything changed. Partly because of its proximity to the United States and a shared heritage, Canadians also aspired to what was commonly referred to as the American dream. I fall neatly into that category. For as long as I can remember I wanted a better life, but because I was born with a cardboard spoon in my mouth, and wasn’t a member of the golden gene club, I knew I would have to make it the old fashioned way: work hard and save. After university graduation I spent the first half of my career working for the two largest oil companies in the world: Exxon and Royal Dutch Shell. The second half was spent with one of the smallest oil companies in the world: my own. Then I sold my company and retired into obscurity. In my case obscurity was spending summers in our cottage on Lake Rosseau in Muskoka, Ontario, and winters in our home in Port St. Lucie, Florida. My wife, Ann, and I, (and our three sons when they can find the time), have been enjoying that “obscurity” for a long time. During that long time we have been fortunate to meet and befriend a large number of Americans, many from Tom Brokaw’s “Greatest Generation.” One was a military policeman in Tokyo in 1945. After a very successful business carer in the U.S. he’s retired and living the dream. Another American friend, also a member of the “Greatest Generation”, survived The Battle of the Bulge and lived to drink Hitler’s booze at Berchtesgaden in 1945. He too is happily retired and living the dream. Both of these individuals got to where they are by working hard, saving, and living within their means. Both also remember when their Federal Government did the same thing. One of my younger American friends recently sent me a You Tube video, featuring an impassioned speech by Marco Rubio, Republican senator from Florida. In the speech, Rubio blasts the spending habits of his Federal Government and deeply laments his country’s future. He is outraged that the U.S. Government spends three hundred billion dollars, each and every month. He is even more outraged that one hundred and twenty billion of that three hundred billion dollars is borrowed. In other words, Rubio states that for every dollar the U.S. Government spends, forty cents is borrowed. I don’t blame him for being upset. If I had run my business using that arithmetic, I would be in the soup kitchens. If individual American families had applied that arithmetic to their finances, none of them would be in a position to pay a thin dime of taxes.

The truth is that banks are the last feudal kingdoms, their rulers omnipotent, divine warlords. Their key lieutenants are 'ronin' (wandering mercenary samurai) who roam financial markets ready to ally themselves to any warlord for a share of plunder. This is not the place to apply the latest management theory.

Clarify your vision and you will make better decisions about people, processes, finances, strategies, and customers.

Your every positive action in your life will increase your self-esteem and this self-esteem will boost you for more positive action to take you on success

The truth is, the status quo loves to say no. It is the easiest thing in the world to say no, especially in the world of business and finance. But for the first time we were discussing civil rights, and no other civil rights issue has ever been questioned because of the cost.

If you are not EXCITED enough at your present life its mean your future is not EXITING. Excitement will give you ENTHUSIASM and enthusiasm will give you a positive energetic LIFE STYLE which could give you a successful exiting life…

The last man she'd dated said something to her, shortly before they broke up: 'I don't know, maybe I'm boring, but I never really feel like you're there when we're out to dinner. You live in your head. I can't. No room for me in there. I don't know, maybe you'd be more interested in me if I were a book.' She had hated him at the time, and hated herself a little, but later, looking back, Hutter had decided that even if that particular boyfriend had been a book, he would've been one from the Business & Finance aisle and she would've passed him by and looked for something in SF & Fantasy.

The great muckraker Upton Sinclair had expressed a deep insight into the relationship between the world of ideas and the world of practical men: ‘It is difficult to get a man to understand something, when his salary depends on his not understanding it.’34

We can't all be bakers or chefs. Many of us have modest ambitions. But we can all buy a piece of the pie.

The great leaders of business, industry, finance, and the great artists, musicians, poets, and writers became great, because they developed the faculty of creative imagination.

The purpose of a business is to get and keep a customer. Without customers, no amount of engineering wizardry, clever financing, or operations expertise can keep a company going.

See money – currency - as the flow of energy and giving that cycles between you, others and me. Now let it flow kindly, fairly and mindfully.

it's the romance, not the finance that makes business worth pursuing.

You should RULE your money, Money shouldn't RULE your Life.

Having routine internal audits helps to make sure that the company passes it's external audits.

CONFIDENCE is not showing off your VANITY, it’s about to be HUMBLED and KIND to others what are you truly SKILLED and PROFESSIONAL about…

Give yourself a great self-respect to know who you are then your confidence will shine on you

Many small businesses would rather face an angry barbarian horde than tackle their cash flow statement or price a new product.

Your money habits and investment strategy is not all about what you do, but much about who you are. Become the person it takes to do, succeed, and innovate.

Lenders often consider a company's industry, market conditions, and competitive landscape in their risk assessment. Everything matters.

Debt is just as dangerous in business as it is in personal finance. Entrepreneurs need to be careful not to cripple the businesses they lead with debt. Because one thing debt does well is cripple it's host.

The missing step in the standard Keynesian theory [is] the explicit consideration of capitalist finance within a cyclical and speculative context . . . finance sets the pace for the economy. As recovery approaches full employment . . . soothsayers will proclaim that the business cycle has been banished [and] debts can be taken on . . . But in truth neither the boom, nor the debt deflation… and certainly not a recovery can go on forever. Each state nurtures forces that lead to its own destruction. So

One of the reasons Wall Street had cooked up this new industry called structured finance was that its old-fashioned business was every day less profitable. The profits in stockbroking, along with those in the more conventional sorts of bond broking, had been squashed by Internet competition.

It happened in all walks of life: business, real estate, health care, the school yard, you name it. Any where that bad things happened, people would not get involved in order to save their own skin. It wasn't that people weren't civic-minded. It was just that the price for intervention would be punishment, not praise.

1. Value Creation. Discovering what people need or want, then creating it. 2. Marketing. Attracting attention and building demand for what you’ve created. 3. Sales. Turning prospective customers into paying customers. 4. Value Delivery. Giving your customers what you’ve promised and ensuring that they’re satisfied. 5. Finance. Bringing in enough money to keep going and make your effort worthwhile.

The crash did not cause the Depression: that was part of a far broader malaise. What it did was expose the weaknesses that underpinned the confidence and optimism of the 1920s - poor distribution of income, a weak banking structure and insufficient regulations, the economy's dependence on new consumer goods, the over-extension of industry and the Government's blind belief that promoting business interests would make America uniformly prosperous.

Creating a complete picture of a company financial health, by looking at periodic financial statements, is like turning a hamburger into a cow

act differently in relationships, in business and finance, than

Selling is a sacred trust between buyer and seller.

It's not only how much money you make. It's what you do with it that determines your financial condition.

Business is still more often about whom you know, not what you know.

Use your profession to fund your passion.

Focus on being productive instead of busy.

Chase after money and the stuggering race will never end; but reach out for successful ideas and the sources of money will chase after you to fill your pockets.

Invest in yourself. your career is the engine of your wealth.

When you leave your old neighborhood for your land, the city streets and businesses will almost instantly fade from your mind. The chirping of birds will replace the yelling of people.

Human Nature is not a problem that can be fixed by rules and regulations. All solutions to the existing problems must be based on how people behave, not on how we think they should behave.

When we hold onto fear and pain after something traumatic has passed, we do it as a sort of safety net. We falsely believe that if we constantly remind ourselves of all the terrible things that we didn’t see coming, we can avoid them. Not only does this not work, but it also makes you less efficient at responding to them if they do. Because most of the time, you’re so busy worrying about monsters in the closet, you forget to address the actual things that will erode you over time: your health, your relationships, your long-term vision, your finances, your thoughts.

when you become addict in to MATERIAL things in life then the TRUE natural life start to run away from you, YES! it's can give you certain pleasure in the society but in the same time it will sabotage your true HAPPINESS of life which we could have simply with GRATITUDE and FORGIVENESS

The Decentralization of Finance is really good for humanity and it’s ultimately a win for each and every one of us. Because now that we can circumvent banks, exchanges and brokerage companies by using smart contracts on the blockchain… every person, every family, and every business will experience more more liberty, more freedom, more opportunities, more abundance, more power, and more wealth.

Understanding what businesses actually do to create and deliver value is essential knowledge, but many business programs have de-emphasized value creation and operations in favor of finance and quantitative analysis.

Company leaders should understand regulatory compliance because it is crucial for maintaining legal and ethical business practices. A comprehensive understanding of compliance ensures they can make informed decisions, minimize legal risks, and safeguard the company's reputation, ultimately contributing to its long-term success and stability.

Companies should seek opportunities for cost reduction to improve efficiency, increase profitability, and maintain a competitive edge. Cost reduction efforts can lead to better financial health, enhanced competitiveness, and the ability to allocate resources to other critical areas of the business, fostering long-term growth and sustainability.

The Decentralization of Finance is really good for humanity. Now that we circumvent can banks, exchanges and brokerages by using smart contracts on the blockchain… every person, every family, and every business will experience more freedom, more liberty, more opportunities, more power, more abundance, and more wealth. So DeFi is a win for humanity.

They use their minds to create wealth—not by taking existing materials and turning them into more valuable goods, but by taking existing wealth and putting it toward more valuable uses. In short, financiers don’t create the products that enrich our lives—they help create (and nurture) all the businesses that create the products that enrich our lives.

Brainstorm your big idea(s). (2 hrs) Identify your product, customer, competition, and sales/marketing strategy. (2 hrs) Identify your plan for operations, management, capitalization, and finances. (4 hrs) Create a life plan. (4 hrs) Validate your business idea. (8 hrs) Type up your finished business plan. (4 hrs) Execute and follow through on your plan.

   The political ineptitude of the magnates of industry and finance was no less than that of the generals and led to the mistaken belief that if they coughed up large enough sums for Hitler he would be beholden to them and, if he ever came to power, do their bidding. That the Austrian upstart, as many of them had regarded him in the Twenties, might well take over the control of Germany began to dawn on the business leaders after the sensational Nazi gains in the September elections of 1930.

In many ways the effect of the crash on embezzlement was more significant than on suicide. To the economist embezzlement is the most interesting of crimes. Alone among the various forms of larceny it has a time parameter. Weeks, months, or years may elapse between the commission of the crime and its discovery. (This is a period, incidentally, when the embezzler has his gain and the man who has been embezzled, oddly enough, feels no loss. There is a net increase in psychic wealth.) At any given time there exists an inventory of undiscovered embezzlement in — or more precisely not in — the country’s businesses and banks. This inventory — it should perhaps be called the bezzle — amounts at any moment to many millions of dollars. It also varies in size with the business cycle. In good times people are relaxed, trusting, and money is plentiful. But even though money is plentiful, there are always many people who need more. Under these circumstances the rate of embezzlement grows, the rate of discovery falls off, and the bezzle increases rapidly. In depression all this is reversed. Money is watched with a narrow, suspicious eye. The man who handles it is assumed to be dishonest until he proves himself otherwise. Audits are penetrating and meticulous. Commercial morality is enormously improved. The bezzle shrinks. … Just as the boom accelerated the rate of growth, so the crash enormously advanced the rate of discovery. Within a few days, something close to a universal trust turned into something akin to universal suspicion. Audits were ordered. Strained or preoccupied behavior was noticed. Most important, the collapse in stock values made irredeemable the position of the employee who had embezzled to play the market. He now confessed.

If you lead a small business, it's important to understand how to deal with each credit bureau and utilize business credit effectively. Transunion is the superior credit bureau of the three bureaus - Transunion provides quality and comprehensive reports, they have efficient systems, and they have professional and intelligent staff. On the other hand, Equifax is mediocre at best. And Experian is so horrible they're basically worthless.

And yet this stagnation is a big reason why I am an optimistic skeptic. We know that in so much of what people want to predict—politics, economics, finance, business, technology, daily life—predictability exists, to some degree, in some circumstances. But there is so much else we do not know.

As economist Thomas Sowell has noted, middleman minorities typically arrive in their host countries with education, skills, or a set of propitious attitudes about work, such as business frugality and the willingness to take risks. Some slave away in lowly menial jobs to raise capital, then swiftly become merchants, retailers, labor contractors, and money-lenders. Their descendants usually thrive in the professions, such as medicine, law, engineering, or finance.

Investors look at economic fundamentals; traders look at each other; ‘quants’ look at the data. Dealing on the basis of historic price series was once described as technical analysis, or chartism (and there are chartists still). These savants identify visual patterns in charts of price data, often favouring them with arresting names such as ‘head and shoulders’ or ‘double bottoms’. This is pseudo-scientific bunk, the financial equivalent of astrology. But more sophisticated quantitative methods have since proved profitable for some since the 1970s’ creation of derivative markets and the related mathematics. Profitable

Value can’t be created without understanding what people want (market research). Attracting customers first requires getting their attention, then making them interested (marketing). In order to close a sale, people must first trust your ability to deliver on what’s promised (value delivery and operations). Customer satisfaction depends on reliably exceeding the customer’s expectations (customer service). Profit sufficiency requires bringing in more money than is spent (finance).

The second message was from Andrea. “Hey. It’s me. Raphael says that Curran’s been a real bastard since about mid-November. He’s in a bad mood. He’s snarling at everything and everyone, and he stopped hearing petitions. The big items that have to be done get done, but no new projects have been approved. Raphael’s been trying to get financing from the Pack to buy out a competing business. He says the last time he brought it up, Curran almost bit his head off. He apparently stalks the Keep halls at night, looking for someone to chew out.

frenzy in the early capitalist states of Europe for gold, for slaves, for products of the soil, to pay the bondholders and stockholders of the expeditions, to finance the monarchical bureaucracies rising in Western Europe, to spur the growth of the new money economy rising out of feudalism, to participate in what Karl Marx would later call “the primitive accumulation of capital.” These were the violent beginnings of an intricate system of technology, business, politics, and culture that would dominate the world for the next five centuries.

The Decentralization of Finance is really good for humanity and it’s ultimately a win for each and every one of us. Because now that we can circumvent banks, exchanges and brokerage companies by using smart contracts on the blockchain… every person, every family, and every business will experience more liberty, more freedom, more opportunities, more abundance, more power, and more wealth. This makes way for more opportunities around financial wellness, permaculture investing, more effective crowdfunding, better ownership and equity arrangements, and more.

What is weak, emphasize as strong. Not sure how to pronounce a word? Then say it loudly with confidence. If technology is outdated, the company board of directors will spend fortunes advertising that their products are the newest and best. To finance the lies, the board will fire a third of the employees, making stock prices go up. Then, before customers disconnect and go to competitors, the company will have made enough money on its lies to buy a startup company with new technology. But, of course, the new technology should not be a backdoor for thieves.

When you talk to the experts about developing new technology to provide clean drinking water for the developing world, they’ll tell you that—with four billion people making less than two dollars a day—there’s no viable business model, no economic model, and no way to finance development costs. But the twenty-five poorest countries already spend twenty percent of their GDP on water. This twenty percent, about thirty cents, ain’t much, but do the math again: four billion people spending thirty cents a day is a $1.2 billion market every day. It’s $400 billion a year. I can’t think of too many companies in the world that have $400 billion in sales a year. And you don’t have to do a market study to find out whether there’s a need. It’s water. There’s a need!

Nonetheless, that know-how is often unmanageable. Avoidable failures are common and persistent, not to mention demoralizing and frustrating, across many fields—from medicine to finance, business to government. And the reason is increasingly evident: the volume and complexity of what we know has exceeded our individual ability to deliver its benefits correctly, safely, or reliably.9

In a lot of ways it is easier to do things on a large scale. It is easier to build a skyscraper in Manhattan than it is to buy a bungalow in the Bronx. For one thing, it takes just as much time to close a big deal as it does to close a small deal. You will endure as much stress and aggravation; you will have all the same headaches and problems. It is easier to finance a big deal. Bankers would much rather lend money for a big project than for a small one. They are more comfortable investing money in a big prestigious building than they are a rundown house in a bad section of town. If you succeed with the big project, you stand to gain a lot more money.

Then, in the late summer of 1790, Humboldt began to study finance and economics at the academy of trade in Hamburg. He hated it for it was all numbers and account books. In his spare time, Humboldt delved into scientific treatises and travel book, he learned Danish and Swedish - anything was better than his business studies. Whenever he could, he walked down to the River Elbe in Hamburg where he watched the large merchant vessels that brought tobacco, rice and indigo from the United States. The 'sight of the ships in the harbour', he told a friend, was what held him together - a symbol of his hopes and dreams. He couldn't wait to be finally the 'master of his own luck'.

Here, then, is our situation at the start of the twenty-first century: We have accumulated stupendous know-how. We have put it in the hands of some of the most highly trained, highly skilled, and hardworking people in our society. And, with it, they have indeed accomplished extraordinary things. Nonetheless, that know-how is often unmanageable. Avoidable failures are common and persistent, not to mention demoralizing and frustrating, across many fields—from medicine to finance, business to government. And the reason is increasingly evident: the volume and complexity of what we know has exceeded our individual ability to deliver its benefits correctly, safely, or reliably. Knowledge has both saved us and burdened us. That

The moment I entered the bright, buzzing lobby of Men’s House I was overcome by a sense of alienation and hostility … The lobby was the meeting place for various groups still caught up in the illusions that had just been boomeranged out of my head: college boys working to return to school down South; older advocates of racial progress with utopian schemes for building black business empires; preachers ordained by no authority except their own, without church or congregation, without bread or wine, body or blood; the community “leaders” without followers; old men of sixty or more still caught up in post-Civil War dreams of freedom within segregation; the pathetic ones who possessed noting beyond their dreams of being gentlemen, who held small jobs or drew small pensions, and all pretending to be engaged in some vast, though obscure, enterprise, who affected the pseudo-courtly manners of certain southern congressmen and bowed and nodded as they passed like senile old roosters in a barnyard; they younger crowd for whom I now felt a contempt such as only a disillusioned dreamer feels for those still unaware that they dream—the business students from southern colleges, for whom business was a vague, abstract game with rules as obsolete as Noah’s Ark but who yet were drunk on finance.

Cryptocurrency is here to stay, so we hear on cryptosphere everyday. But there are some fundamental situations that needs to take place for this speculated ‘store of value’ to really have its foot to stand on, and that is, government’s ability to enforce taxation on businesses and individuals making gains with this currency. So, either we like it or not, crypto taxation needs to be enforced for government to really entertain any form of adoption. Asian countries dominates the cryptocurrency spaces but the governments are finding it a bit hard to really tax crypto transactions.

1. Project What is the project? Why is it unique? Why is the business needed? Why will customers love your product? 2. Partners Who are you? Who are the partners? What are your educational backgrounds? How much experience do you all have? How are you and your partners qualified to make the project a success? 3. Financing What is the total cost of the project? How much debt and how much equity is there? Are partners investing their own money? What is the investor’s return and reward for their risk? What are the tax consequences? Who is your CFO or accounting firm? Who is responsible for investor communications? What is the investor’s exit? 4. Management Who is running your company? What is their experience? What is their track record? Have they ever failed? How does their experience relate to your industry? Do you believe this is the strongest management team you can assemble? Can you pitch them with confidence?

Today, in our society, in economics, and in finance, we place far too much trust in numbers. Numbers are not reality . At best, they are a pale reflection of reality. At worst, they’re a gross distortion of the truths we seek to measure. But the damage doesn’t stop there. Not only do we rely too heavily on historic economic and market data; our optimistic bias also leads us to misinterpret the data and give them credence that they rarely merit. By worshipping at the altar of numbers and by discounting the immeasurable, we have in effect created a numeric economy that can easily undermine the real one. Government:

The independent growth of state business was caused by a conflict with the financially powerful forces of the time, with the bourgeoisie which went the way of private investment, shunned all state intervention, and refused active financial participation in what appeared to be an “unproductive” enterprise. Thus the Jews were the only part of the population willing to finance the state’s beginnings and to tie their destinies to its further development. With their credit and international connections, they were in an excellent position to help the nation-state to establish itself among the biggest enterprises and employers of the time.9

The accession of not one but three illegal drug users in a row to the US presidency constitutes an existential challenge to the prohibitionist regime. The fact that some of the most successful people of our time, be it in business, finances, politics, entertainment or the arts, are current or former substance users is a fundamental refutation of its premises and a stinging rebuttal of its rationale. A criminal law that is broken at least once by 50% of the adult population and that is broken on a regular basis by 20% of the same adult population is a broken law, a fatally flawed law. How can a democratic government justify a law that is consistently broken by a substantial minority of the population? What we are witnessing here is a massive case of civil disobedience not seen since alcohol prohibition in the 1930 in the US. On what basis can a democratic system justify the stigmatization and discrimination of a strong minority of as much as 20% of its population?

I went around to four finance companies and borrowed a hundred bucks from each one so we could get married. Then when the collectors came around I persuaded them that they couldn’t find me. One of them that I convinced had my case taken over by his supervisor, who decided not to cooperate with my disappearance and showed up one night at Wagner’s looking for Frank Sheeran. He didn’t know it was me at the door. I said to follow me and I’d take him in to see Mr. Sheeran. He followed me into the bathroom and I gave him a shot to the body and a shot to the jaw and down he went. I didn’t give him the boot or anything. I just wanted to make sure he understood that Mr. Sheeran was too busy to see him that night or any other night. He got the message. Mary had a good job with the Philadelphia

Around this time, a young man named Samuel Slater slipped through the tight protective net thrown by British authorities around their textile business. As a former apprentice to Sir Richard Arkwright, Slater had sworn that he would never reveal his boss’s trade secrets. Flouting this pledge, he sailed to New York and made contact with Moses Brown, a Rhode Island Quaker. Under Slater’s supervision, Brown financed a spinning mill in Rhode Island that replicated Arkwright’s mill. Hamilton received detailed reports of this triumph, and pretty soon milldams proliferated on New England’s rivers. With patriotic pride, Brown predicted to Hamilton that “mills and machines may be erected in different places, in one year, to make all the cotton yarn that may be wanted in the United States.” 29 Hamilton

Apple raised $17 billion in a bond offering in 2013. Not to invest in new products or business lines, but to pay a dividend to stockholders. The company is awash with cash, but much of that money is overseas, and there would be a tax charge if it were repatriated to the USA. For many other companies, the tax-favoured status of debt relative to equity encourages financial engineering. Most large multinational companies have corporate and financial structures of mind-blowing complexity. The mechanics of these arrangements, which are mainly directed at tax avoidance or regulatory arbitrage, are understood by only a handful of specialists. Much of the securities issuance undertaken by Goldman Sachs was not ‘helping companies to grow’ but represented financial engineering of the kind undertaken at Apple. What

The Blood of Jesus is a battle-weapon; through it, you can achieve the following: 1. Cleansing: the Blood of Jesus possesses cleansing power. If there is any form of dirt of filth in your life or environment, the Blood of Jesus will cleanse them. 2. Sanitisation: the Blood of Jesus could serve as disinfectant. Anything that wants to pollute, will not be able to get in. You should sanitise your life, your body, house, shop, etc. In fact, before you move into a new apartment or house, you should sanitise it and the surroundings, with the Blood of Jesus. The foundations of many houses were laid with sacrifices of all kinds. Houses that were built thirty or forty years ago, have things buried in them, by the owners and such things work negatively on the inhabitants of such houses, especially if they are not born again. 3. Deliverance: when you call the Blood of Jesus into operation, it causes the enemy to flee, because it contains the life of God. It sets people free from bondage. 4. Healing: It can heal all forms of infirmity. When you plead the Blood of Jesus, things begin to happen. 5. Protection. 6. Life-giving power: to revive anyone or anything that is dead. It could be marriage, finances, business, etc.

Steamboat Willie put Walt Disney on the map as an animator. Business success was another story. Disney’s first studio went bankrupt. His films were monstrously expensive to produce, and financed at outrageous terms. By the mid-1930s Disney had produced more than 400 cartoons. Most of them were short, most of them were beloved by viewers, and most of them lost a fortune. Snow White and the Seven Dwarfs changed everything. The $8 million it earned in the first six months of 1938 was an order of magnitude higher than anything the company earned previously. It transformed Disney Studios. All company debts were paid off. Key employees got retention bonuses. The company purchased a new state-of-the-art studio in Burbank, where it remains today. An Oscar turned Walt from famous to full-blown celebrity. By 1938 he had produced several hundred hours of film. But in business terms, the 83 minutes of Snow White were all that mattered.

So identified has the State become in the public mind with the provision of these services that an attack on State financing appears to many people as an attack on the service itself. Thus if one maintains that the State should not supply court services, and that private enterprise on the market could supply such service more efficiently as well as more morally, people tend to think of this as denying the importance of courts themselves. The libertarian who wants to replace government by private enterprises in the above areas is thus treated in the same way as he would be if the government had, for various reasons, been supplying shoes as a tax-financed monopoly from time immemorial. If the government and only the government had had a monopoly of the shoe manufacturing and retailing business, how would most of the public treat the libertarian who now came along to advocate that the government get out of the shoe business and throw it open to private enterprise? He would undoubtedly be treated as follows: people would cry, “How could you? You are opposed to the public, and to poor people, wearing shoes! And who would supply shoes to the public if the government got out of the business? Tell us that! Be constructive! It’s easy to be negative and smart-alecky about government; but tell us who would supply shoes? Which people? How many shoe stores would be available in each city and town? How would the shoe firms be capitalized? How many brands would there be? What material would they use? What lasts? What would be the pricing arrangements for shoes? Wouldn’t regulation of the shoe industry be needed to see to it that the product is sound? And who would supply the poor with shoes? Suppose a poor person didn’t have the money to buy a pair?” These questions, ridiculous as they seem to be and are with regard to the shoe business, are just as absurd when applied to the libertarian who advocates a free market in fire, police, postal service, or any other government operation. The point is that the advocate of a free market in anything cannot provide a “constructive” blueprint of such a market in advance. The essence and the glory of the free market is that individual firms and businesses, competing on the market, provide an ever-changing orchestration of efficient and progressive goods and services: continually improving products and markets, advancing technology, cutting costs, and meeting changing consumer demands as swiftly and as efficiently as possible.

How different it could all have been … Taylor Swift was never meant to be a singer-songwriter; she was supposed to become a stockbroker. Her parents even chose her Christian name with a business path in mind. Her mother, Andrea, selected a gender-neutral name for her baby girl so that when she grew up and applied for jobs in the male-dominated finance industry no one would know if she were male or female. It was a plan that came from a loving place, but it was not one that would ever be realised. Instead, millions and millions of fans across the world would know exactly which gender Andrea’s firstborn was, without ever meeting her. In Taylor’s track ‘The Best Day’, which touchingly evokes a childhood full of wonder, she sings of her ‘excellent’ father whose ‘strength is making me stronger’. That excellent father is Scott Kingsley Swift, who studied business at the University of Delaware. He lived in the Brown residence hall. There, he made lots of friends, one of whom, Michael DiMuzio, would later cross paths with Taylor professionally. Scott graduated with a first-class degree and set about building his career in similarly impressive style. Perhaps a knack for business is in the blood: his father and grandfather also worked in finance. Scott set up his own investment-banking firm called the Swift

Probably the first book that Hamilton absorbed was Malachy Postlethwayt’s Universal Dictionary of Trade and Commerce, a learned almanac of politics, economics, and geography that was crammed with articles about taxes, public debt, money, and banking. The dictionary took the form of two ponderous, folio-sized volumes, and it is touching to think of young Hamilton lugging them through the chaos of war. Hamilton would praise Postlethwayt as one of “the ablest masters of political arithmetic.” A proponent of manufacturing, Postlethwayt gave the aide-de-camp a glimpse of a mixed economy in which government would both steer business activity and free individual energies. In the pay book one can see the future treasury wizard mastering the rudiments of finance. “When you can get more of foreign coin, [the] coin for your native exchange is said to be high and the reverse low,” Hamilton noted. He also stocked his mind with basic information about the world: “The continent of Europe is 2600 miles long and 2800 miles broad”; “Prague is the principal city of Bohemia, the principal part of the commerce of which is carried on by the Jews.” He recorded tables from Postlethwayt showing infant-mortality rates, population growth, foreign-exchange rates, trade balances, and the total economic output of assorted nations.

A 1997 study of the consumer product design firm IDEO found that most of the company’s biggest successes originated as “combinations of existing knowledge from disparate industries.” IDEO’s designers created a top-selling water bottle, for example, by mixing a standard water carafe with the leak-proof nozzle of a shampoo container. The power of combining old ideas in new ways also extends to finance, where the prices of stock derivatives are calculated by mixing formulas originally developed to describe the motion of dust particles with gambling techniques. Modern bike helmets exist because a designer wondered if he could take a boat’s hull, which can withstand nearly any collision, and design it in the shape of a hat. It even reaches to parenting, where one of the most popular baby books—Benjamin Spock’s The Common Sense Book of Baby and Child Care, first published in 1946—combined Freudian psychotherapy with traditional child-rearing techniques. “A lot of the people we think of as exceptionally creative are essentially intellectual middlemen,” said Uzzi. “They’ve learned how to transfer knowledge between different industries or groups. They’ve seen a lot of different people attack the same problems in different settings, and so they know which kinds of ideas are more likely to work.” Within sociology, these middlemen are often referred to as idea or innovation brokers. In one study published in 2004, a sociologist named Ronald Burt studied 673 managers at a large electronics company and found that ideas that were most consistently ranked as “creative” came from people who were particularly talented at taking concepts from one division of the company and explaining them to employees in other departments. “People connected across groups are more familiar with alternative ways of thinking and behaving,” Burt wrote. “The between-group brokers are more likely to express ideas, less likely to have ideas dismissed, and more likely to have ideas evaluated as valuable.” They were more credible when they made suggestions, Burt said, because they could say which ideas had already succeeded somewhere else.

Emily picked up her fork and contemplated eating the waffles left-handed in front of Carter. Her skin prickled as she imagined a trail of strawberry syrup cascading down the ruffles of her pristine blouse. “Aren’t you going to eat, Emily?” Grandma Kate asked. “Your waffles will get soggy.” “I like it when the syrup soaks in.” “Nonsense.” Her grandmother waved her hand in the air, shoved her own empty plate away, and set a leather-bound ledger on the table. Emily bit her lip and used the side of her fork to try to cut off the corner. Ah. Success. She glanced up and caught Carter grinning at her. Heat flooded her cheeks, and she dropped her gaze back to her breakfast. Even without looking, she knew he was still watching. She’d show him she was a woman who could tackle anything—big or small. Her grandmother thumbed through the ledger. “And Carter studied finance, Emily. Since your brother is busy running your father’s business, I’ve asked Carter to help me manage my assets.” “But I thought—” Emily jerked. The bite of waffle on the tip of her fork, drenched in strawberry syrup, went flying across the table. 4 Instinct alone propelled Carter to catch the chunk of waffle midair. The contents squished in his palm, and he grabbed his napkin from the table. When he’d managed to scrub the worst of the berry stain off, he looked up and met Emily’s horrified gaze. Laughter rumbled in his chest, but with great effort he kept it in check.

Pointsman is the only one here maintaining his calm. He appears unruffled and strong. His lab coats have even begun lately to take on a Savile Row serenity, suppressed waist, flaring vents, finer material, rather rakishly notched lapels. In this parched and fallow time, he gushes affluence. After the baying has quieted down at last, he speaks, soothing: “There’s no danger.” “No danger?” screams Aaron Throwster, and the lot of them are off again muttering and growling. “Slothrop’s knocked out Dodson-Truck and the girl in one day!” “The whole thing’s falling apart, Pointsman!” “Since Sir Stephen came back, Fitzmaurice House has dropped out of our scheme, and there’ve been embarrassing inquires down from Duncan Sandys—“ “That’s the P.M.’s son-in-law, Pointsman, not good, not good!” “We’ve already begun to run into a deficit—“ “Funding,” IF you can keep your head, “is available, and will be coming in before long… certainly before we run into any serious trouble. Sir Stephen, far from being ‘knocked out,’ is quite happily at work at Fitzmaurice House, and is At Home there should any of you wish to confirm. Miss Borgesius is still active in the program, and Mr. Duncan Sandys is having all his questions answered. But best of all, we are budgeted well into fiscal ’46 before anything like a deficit begins to rear its head.” “Your Interested Parties again?” sez Rollo Groast. “Ah, I noticed Clive Mossmoon from Imperial Chemicals closeted with you day before yesterday,” Edwin Treacle mentions now. “Clive Mossmoon and I took an organic chemistry course or two together back at Manchester. Is ICI one of our, ah, sponsors, Pointsman?” “No,” smoothly, “Mossmoon, actually, is working out of Malet Street these days. I’m afraid we were up to nothing more sinister than a bit of routine coordination over the Schwarzkommando business.” “The hell you were. I happen to know Clive’s at ICI, managing some sort of polymer research.” They stare at each other. One is lying, or bluffing, or both are, or all of the above. But whatever it is Pointsman has a slight advantage. By facing squarely the extinction of his program, he has gained a great of bit of Wisdom: that if there is a life force operating in Nature, still there is nothing so analogous in a bureaucracy. Nothing so mystical. It all comes down, as it must, to the desires of men. Oh, and women too of course, bless their empty little heads. But survival depends on having strong enough desires—on knowing the System better than the other chap, and how to use it. It’s work, that’s all it is, and there’s no room for any extrahuman anxieties—they only weaken, effeminize the will: a man either indulges them, or fights to win, und so weiter. “I do wish ICI would finance part of this,” Pointsman smiles. “Lame, lame,” mutters the younger Dr. Groast. “What’s it matter?” cries Aaron Throwster. “If the old man gets moody at the wrong time this whole show can prang.” “Brigadier Pudding will not go back on any of his commitments,” Pointsman very steady, calm, “we have made arrangements with him. The details aren’t important.” They never are, in these meetings of his.

The Proofs Human society has devised a system of proofs or tests that people must pass before they can participate in many aspects of commercial exchange and social interaction. Until they can prove that they are who they say they are, and until that identity is tied to a record of on-time payments, property ownership, and other forms of trustworthy behavior, they are often excluded—from getting bank accounts, from accessing credit, from being able to vote, from anything other than prepaid telephone or electricity. It’s why one of the biggest opportunities for this technology to address the problem of global financial inclusion is that it might help people come up with these proofs. In a nutshell, the goal can be defined as proving who I am, what I do, and what I own. Companies and institutions habitually ask questions—about identity, about reputation, and about assets—before engaging with someone as an employee or business partner. A business that’s unable to develop a reliable picture of a person’s identity, reputation, and assets faces uncertainty. Would you hire or loan money to a person about whom you knew nothing? It is riskier to deal with such people, which in turn means they must pay marked-up prices to access all sorts of financial services. They pay higher rates on a loan or are forced by a pawnshop to accept a steep discount on their pawned belongings in return for credit. Unable to get bank accounts or credit cards, they cash checks at a steep discount from the face value, pay high fees on money orders, and pay cash for everything while the rest of us enjoy twenty-five days interest free on our credit cards. It’s expensive to be poor, which means it’s a self-perpetuating state of being. Sometimes the service providers’ caution is dictated by regulation or compliance rules more than the unwillingness of the banker or trader to enter a deal—in the United States and other developed countries, banks are required to hold more capital against loans deemed to be of poor quality, for example. But many other times the driving factor is just fear of the unknown. Either way, anything that adds transparency to the multi-faceted picture of people’s lives should help institutions lower the cost of financing and insuring them.