We bought some stuff and we sold some stuff.

We are just ruthlessly systemic and efficient.

One of my favourite lessons though is that speed of turnover is what matters, not margin.

Return on capital = margin ^ turnover cycles

So we are starting with stuff that is high value density, fast turnover and we are saturating out those opportunities before moving into more scalable things.

Think we underestimated the addressable market for our first stage though, so we are overachieving at the moment.

Good business just boils down to math.

People complicate it with moronic stuff and feelings.

But I’m an MEng^2 + MBA so you probably shouldn’t listen to me. Very not cool.

Yes, we make decisions about what to do with the money to grow the funds and that’s it.

We started with £1,000

We might write an email or fill a form.

But nothing that looks like a chore.

1 in 1000 stoners can smoke #weed and still be productive.

Odds are you're not that 1.

Stop lying to yourself.

Put the weed away.

#weedstr

#420

I’m sure nobody here remembers, but 6 months ago I said I was starting a home biz with my two kids (13, 14) to give them a taste of capitalism and entrepreneurialism.

We have a mini board meeting every Sunday night and the only rule is that our biz is a zero labour biz (we don’t want chores). We probably had 15 meetings so far and the boardroom dynamics are interesting considering everyone has an equal vote. 🤣

We started out with registering a limited company in UK (£12), opening a commercial bank account (£0), and depositing £1,000, bought web domain (£10), bunch of service fees (~£100).

My plan was:

Day 1… £1,000

Year 1 profit… £10,000

Year 2 profit… £50,000

Year 3 profit… £100,000

No dividend / salaries

Well today we shipped our first £10,000 of product and next week we ship another £10,000

But our margin is ~50% so things are looking really positive at the six month mark.

Kids are loving it.

Crucially it was important to start from essentially nothing. That’s the entire life lesson here… From nothing, at any time, just know you can do this.

Blah blah something something about giving a fish or a net, blah blah.

For anyone who has kids in their life, do you know what they love learning about in school? 🤓

#Whovians No spoilers. The final episode of the Doctor Who 60th anniversary special was good. Two out of three were good, IMO. I really enjoyed them. I can't wait for the Christmas episode to find out what's going on with this unique regeneration and the new Doctor.

British researchers have trained an artificial intelligence to recognize keystrokes by sound. A smartphone placed near a laptop served as the microphone. How about copy & paste password using a password manager and protecting account with 2FA hardware keys? That would prevent the AI or not ?

It's an unforced error to say "inscriptions are an exploit in bitcoin." Bitcoin has no exploits. No rules are being broken. This concession is made in bad faith in order to eliminate something disagreeable but valid. It's dishonest.

The honest approach is to say "I don't like that others use the blockchain for data storage and here is a proposal to fix it." Then you wait to see if your proposal reaches consensus. But framing ordinals as a vulnerability is just plain dishonest and spreading an untruth. Bitcoin has no exploits. It is working as designed.

I expect better from a fellow catholic. But I am no stranger to this disappointment.

I saw this as a meme many times in the past few years, finally I looked it up myself!! What ya know!?!?

🤡 World!!

#liestr

#foolstr

#ButWeTheConspiracyTheoristsHuhstr

Ab zum Geburtstagsbrunch.

Schwiegervater ist 70 geworden!

😆😆😆

With current Bitcoin network fees being so high, it's raised the following question in my head:

After the final bitcoin is mined (let's say 2140), miners will be rewarded and incentivised in Bitcoin network fees, right?

How does this co-exist with lightning network solving for high fees when transacting? With lightning network serving as retail network and larger transactions being sent on base layer?

Does that make sense? Likely just over my head but thought worth asking. #asknostr

Is bsv still a thing or did csw go broke?

You got it 🤙