Drudge Retort: The Other Side of the News

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Monday, July 11, 2016

America has an obesity problem. Most anyone who trusts modern science will not dispute that point. But as with any societal issue, the question is not so much about what the problem is, but rather what to do about it. Like most other "crises", the easy solution most loudly called for is some sort of intervention from the government, and obesity is no different.

But while government is failing to get kids moving, the private market is quietly getting them off their feet again. Just this week, the new app called Pokemon Go launched for mobile devices, bringing the digital world that millennials grew up with to life. The game allows players to travel their neighborhoods and towns on foot to catch wild Pokemon and train them as their own. The game mixes the elements of the game with real life places, that one must travel to on-foot to play.

Friday, May 06, 2016

For the first time, the Food and Drug Administration announced it will regulate more tobacco products, including e-cigarettes, hookah tobacco, cigars and pipe tobacco. The FDA says the use of e-cigarettes has "skyrocketed" among high school students from 1.5 percent in 2011 to 16 percent in 2015, a more than a 900 percent increase. "Before today, there was no federal law prohibiting retailers from selling e-cigarettes, hookah tobacco or cigars to people under age 18," said the FDA adding it will begin evaluating factors such as ingredients, product design and health risks. Makers of the products can continue selling for up to two years while they submit a new tobacco product application. The Smoke-Free Alternatives Trade Association released a statement criticizing the FDA change: "Today's final rule pulls the rug out from the nine million smokers who have switched to vaping, putting them in jeopardy of returning back to smoking, which kills 480,000 Americans each year and costs the U.S. more than $300 billion in annual health care expenses."


It's not just the cost to start the business which is a barrier but the time it takes before you can start paying yourself. If you do not have a year of savings on hand you are just begging for your business to fail. You will have to take so much out of it at the beginning to pay your personal bills you business will fail to grow.

When I started my first business the business was part time while I worked a full time job to pay the bills. The first few jobs I got the profit went to buying tools and materials, then the profits went to advertisement and promotion. It wasn't until my second year doing it that I actually saw any personal benefit. If I had tried to start full time I wouldn't have made it one year. There was also a learning curve to how to price things. I remember one job where I lost 200 bucks because I didn't price it correctly. If you don't have a buffer that can be enough to bring down a small business.

In order to do all that you need either the savings or a family and friend support network and it is rare for a poor family to be able to provide that. It is interesting as I frequently work with hard working intelligent people who do not have the background I have and the whole way we view the world is different. When I started my second business there was a guy I had worked with he had no assets but he was a great worker and I offered him an ownership share in return for working for basically no money for a few months. I agreed to pay him a bit because I knew he needed some money but it was low. He turned me down. It wasn't that he couldn't see the delayed gratification reward he saw it and I know he was torn, but he had a wife and kid and at the low pay for a year if the business had failed they would have been homeless. I had family, both my wife's and mine, that could help us if things went south so I could take the risk he couldn't. I ended up working from home a few hours a week in a nice middle class house he is still in the same job in a rental.

It's not because I was any better as an entrepreneur than him it wasn't any ability to delay gratification over him it was my ability to absorb failure.

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