Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It seems to me, a lot of entrepreneurship is concentrated in things which are:
Not terribly useful to society, but lucrative: Examples:
-High Freq. Trading
-House Flipping
-Finance
-Apps / Software
-Advertising
-Questionable Health Industry Stuff
And yet those trying to solve "real" problems, don't get as much money from their businesses as those who are simply going after the money.
Meaning entrepreneurship isn't necessarily a game of being of the most utility to society, but a game of finding where to exploit easy profits from flawed mechanisms.
Am I wrong? I'm both a practitioner and theorist of the subject, and looking for insight.
Well those apps, and software solve problems for businesses/people as do the other things you mentioned. What exactly is a "real problem," for instance would providing a solution for everybody in third world countries to have purified water, solve a real problem? I think the point your trying to make is how we as a society waste money on flavored coffees, overpriced cars, and random things instead of helping solve poverty in America?
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,585 posts, read 81,243,006 times
Reputation: 57825
Quote:
Originally Posted by concept_fusion
It seems to me, a lot of entrepreneurship is concentrated in things which are:
Not terribly useful to society, but lucrative: Examples:
-High Freq. Trading
-House Flipping
-Finance
-Apps / Software
-Advertising
-Questionable Health Industry Stuff
And yet those trying to solve "real" problems, don't get as much money from their businesses as those who are simply going after the money.
Meaning entrepreneurship isn't necessarily a game of being of the most utility to society, but a game of finding where to exploit easy profits from flawed mechanisms.
Am I wrong? I'm both a practitioner and theorist of the subject, and looking for insight.
Sorry, but you are wrong. The house flipper, for example, is providing jobs to trades people when doing the remodeling/repairs, and someone is buying a house that is in better shape than it was before, which also helps the property values in the neighborhood. Apps and software are now critical to daily life. I do all of my banking and bill paying online, for example, mostly on the smart phone. While I personally dislike being subject to so much advertising, it sells products, therefore helping to keep people working that manufacture, warehouse, ship, and sell those products being advertised.
Meaning entrepreneurship isn't necessarily a game of being of the most utility to society, but a game of finding where to exploit easy profits from flawed mechanisms.
The goal of entrepreneurship is not to be of use to society, it is to make a profit by providing goods or services that society desires. Some of those desires are the results of a flaw in society - such as drugs - and then the act of profiting from it is between the entrepreneur and his conscience. The entrepreneur's utility to society is an effect of his activity, not the goal of it.
I do not think that any of the things on your list are in the same class as dealing drugs though - I chose that example because it is one of the most obvious ones. Things like flipping houses are much more subjective, and your opinion on the practice is more likely to be formed by popular culture than actual experience with it.
I choose flipping because I know a couple people who do this. One in particular worked as an inspector previously. He buys houses that need a lot of work - far more than a coat of neutral paint - and fixes the problems to sell the house at a healthy profit. That he can do this profitably has a lot to do with experience and judgement, making decisions quickly and planning work efficiently. Speed means doing three in a year rather than two, and that means more profit for the year.
Now if this guy were making his profit from substandard work, the current negative stereotype would be accurate. I've not found this to be the case though. People talk about flippers as if they were evil - but the ones I know are far from it. They are meeting a demand for rehab'ed housing and making a living.
I am sure there are lots of business activities which are lucrative but not especially useful for society. Your list seem highly subjective. I would think finance, which is the management of money, is often very useful. Useful for businesses, organizations, even local and our national government. Apps and software are essential. There is no reason to have a computer without the software to run it. You might also see some value in advertising if you had a product or service to sell or if you wanted to promote a charity.
As long as we are making subjective lists, I will make a brief one of my own:
Gold and diamond mining. There are virtual no uses for these except for hording and ornamentation
Professional sports. I see no value whatsoever but I suppose some enjoy the entertainment aspects. Non-pro sports could easily fill the gap.
Fashion. Frivolous expenditures on fads that are expected to become obsolete.
It seems to me, a lot of entrepreneurship is concentrated in things which are:
Not terribly useful to society, but lucrative: Examples:
-High Freq. Trading
-House Flipping
-Finance
-Apps / Software
-Advertising
-Questionable Health Industry Stuff
And yet those trying to solve "real" problems, don't get as much money from their businesses as those who are simply going after the money.
Meaning entrepreneurship isn't necessarily a game of being of the most utility to society, but a game of finding where to exploit easy profits from flawed mechanisms.
Am I wrong? I'm both a practitioner and theorist of the subject, and looking for insight.
The purpose of business is NOT to be useful to society, but to make money.
The purpose of business is NOT to be useful to society, but to make money.
I disagree, respectfully.
There's definitely some social utility implied in every business charter in this century. Businesses that only exist to make money overstep every ethical and moral ground. They definitely exist, they are (mostly) legal, and they are not something which we should promote as a society.
Sorry, but you are wrong. The house flipper, for example, is providing jobs to trades people when doing the remodeling/repairs, and someone is buying a house that is in better shape than it was before, which also helps the property values in the neighborhood. Apps and software are now critical to daily life. I do all of my banking and bill paying online, for example, mostly on the smart phone. While I personally dislike being subject to so much advertising, it sells products, therefore helping to keep people working that manufacture, warehouse, ship, and sell those products being advertised.
then why dont people who already own homes, just hire those people to fix up there own homes, as opposed to buying another that was fixed up for a more hefty price?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
