Citizens Prerogative Podcast Closed Caption Transcript
S3 E65 Capital and Ownership Journey

11:36:30 This is episode number 65 we are in season, 3.
11:36:35 And the title of this episode is probably going to be capital and ownership.
11:36:41 Journey, it's gonna be a new donut experience that's what we have proposed for you today.
11:36:48 So we're gonna open this one up with a series of questions and then we're probably gonna answer those questions and then we're gonna have still some calls to action but this one's, pretty media, About the economy, it's time, We take a Break from some of the Heavier Leaning more
11:37:05 Politically Oriented Aspirin and Start revisiting some of the goodies that we could be contemplating for a much better future economically for Us, all after all the economy is the engine that drives, all of our prosperity, and inequality and destruction of the earth
11:37:29 Which we've got to do something about right so high.
11:37:31 Time we get back to it.
11:37:36 So, the few questions We're gonna try and address today.
11:37:39 Include how can capitalism be merged into the Donut economic model?
11:37:47 If I properly prepared for this episode, I would refer back to our previous episodes on the Doughnuts, I will make sure that that's included in the notes, so that you can go back and listen to some of those episodes if you're Wondering what We're talking
11:38:01 About they are delicious, they are tasty. But more importantly, they can save us. All circular economics. Dona economics. Whatever you want to call it we like donuts.
11:38:12 The other question we're dealing with is how can we have a system that facilitates the creation of new businesses without the burden, on the Biosphere that gets placed on it from unending economic growth and profits right today line goes up Chart goes up all that
11:38:32 Accounts is I start a business, and it just grows and grows and grows into perpetuity, and there's nothing sustainable about that at all which is partly why we have bankruptcy in system because if you can't sustain on any Growth, at some point your Company.
11:38:45 probably goes out of business and so we don't need to have this boom in bus boom, and bus boom and bus, as we've learned throughout history by implementing new regulations, etc it's time for us to build a brand new economic model, to finally, put to bed, the Boom in bus
11:39:01 that's just a part of the system, so we're hopeful about, and then last question is here.
11:39:08 How do we get to something more sustainable. So if it's not booming bus, then it has to be sustainable what does that look like?
11:39:15 How do we do it? The good news is, we've learned so much in the last what 100 years of capitalism, or I don't know how long how long it's been around maybe yeah, it's not that old it's a pretty young idea.
11:39:30 And we've only tested it on like 1 one model for profit.
11:39:35 That's it it's the only goal we've given it, and and then we've accepted some people from having to make profit.
11:39:41 But they still do make profit, and they still have salaries, and they still have employees.
11:39:46 They just don't have shareholders. So let's not get bogged down in to for profit versus nonprofit all companies are companies and they're all created for groups of people in order, to deliver a product or service and they take in money, whether it's, donations, or you know
11:40:02 selling products, or anything like that. It's all about moving money, taking money from where it needs to be putting it where it's useful and benefiting society at the end of the day, and so we just need to come up with a way to do that more sustainably, so we've demonstrated
11:40:17 capitalism, as a model as a system can work. It's effective, and it needs to be updated needs, an upgrade
11:40:36 Oh, we are it already exists, it's the it's the American people.
11:40:39 We we have that right, we have the we have the a certain inaliable right.
11:40:49 Some would say to hold people accountable at all levels, why does it stop at this th this certain level? Right?
11:41:08 That's a great point, because we sometimes we seem to harp on the wealthy because of all the liberty.
11:41:16 They get to enjoy that the non wealthy don't right.
11:41:19 Liberty should be equal for all of us. But the more money you have, essentially the more free.
11:41:22 You build, or buy for yourself companies are in the same. Oh, right the more profit they make.
11:41:29 It seems like the more liberty they have to pollute or steel or cheat, whether you're a wealthy, individual, or a wealthy company in the more money you have means, you know, I can take a little risk because I can afford to pay that 1 billion dollar fine but at the end of the day.
11:41:47 That's just not appropriate, not healthy and not sustainable, right?
11:41:51 So we need to hold. We need we need mechanisms for that level of accountability, for sure and regulation, is so far the primary method we've been using, but you know, if we design the system to actually do a better job in of itself.
11:42:08 You wouldn't need so much. Top down regulation, right?
11:42:11 It's just the regulation is trying to put the boundaries up.
11:42:14 Where the system is not set up with its own checks and balance as well, and keep in mind that our constitution only designed our government didn't design, the economy nothing in the constitution, about the economy, let's reestablish that for the record we've talked about it in the past since
11:42:28 we're talking about economics again. Let's remind everybody that it is only the government that creates, the ability for businesses to exist, it builds, the Framework, to Establish a business to operate a business, and all the rules and laws, in conducting a business, and since it is considered an individual or an
11:42:46 Entity. It should actually be bound by some moral obligations, as well
11:42:51 Is is, it
11:42:51 I don't know why humans right have to be bound by moral obligations.
11:42:54 But companies don't even know they're humans, too, or groups of humans.
11:42:58 It's like the hypocrite of for the for business, right it's, it's the Next level of Maturity, there are certain industries that are more present to your Americans, like and and people, right, I think that the medical profession, we could agree, that you can't, get away from what just
11:43:17 Happened right. They're interacting with you family in a most intimate synapse it therefore it's a highly regulated environment, it's it's a highly certified environment, and I think it comes down to a similar situation.
11:43:32 For us. If you are a corporate officer, you have a oath, you have an obligation to make sure your corporation is not damaging anyone, your employees, your your shareholders, and then the the earth right out.
11:43:50 Moving your plant to another country still is is causing material harm.
11:43:54 To someone. So, how about we eliminate the reason we needed to use this toxic chemical and build, this plant in another country, to avoid regulation.
11:44:11 Here, here, and just as a reminder for me and others. Hippocratic oath is like do no harm, right
11:44:06 It. It really comes down to a social responsibility.
11:44:25 That was a question
11:44:28 That's a question for me to define as like I I yeah, as I understand.
11:44:33 Like, I hope, yeah, you better. You better get a doctor.
11:44:33 Yeah, I think that's what it means. Right. That's what you had in mind
11:44:37 Yeah, but yeah, but I say that I was like, wait a minute.
11:44:40 Yeah, I'm like rumor, has it.
11:44:40 You meet do no harm. Yeah, I think, so, anyway, that's the point we're making in in any case.
11:44:51 The Donut model would actually ask you to leave things even better than you found it.
11:44:55 If if at all, possible, so maybe I made that up.
11:44:59 Let's just pretend that's in there, I'm thinking about Life and biomimicry and the fact that nature in all the Processes, We've Observed In Nature all natural Processes, leave nature, More, Conducive to Life, It's It's, really Interesting like even our
11:45:18 excrement. It's not good for us, but it's good for nature
11:45:23 It's so, nasty, but I was thinking that I was walking through the parking garage, and I was trying not to be angry at the Pigeons.
11:45:31 That look literally have covered the entire garage and I said, now we built this garage, and that that that would have naturally landed somewhere.
11:45:41 If it wasn't for us building the garage. So I will not be angry at these pigeons
11:45:45 That concrete, we place there is interrupted the natural cycle, a fertilized fertilization.
11:45:51 It's not that there should be a forest floor, and everyone that gets angry at pigeons.
11:45:57 Just remember they're they are doves that are not white.
11:46:03 They're very peaceful birds.
11:46:07 Okay. Let's jump into our proposal here. We've got some.
11:46:11 Ideas. It'll be interesting to see how well, we can elaborate on these things because we're neither of us are economists.
11:46:17 We just are big idea folks. You know us So here's what we propose with the whole idea here, taking step back, we we want a sustainable set of practices principles and a path.
11:46:30 I mean. The episode has the term journey in it for a reason and so we're just gonna talk a little bit about theoretically.
11:46:37 What a more sustainable capitalist journey would look like for any business entity, or you know entrepreneur who's who's starting operating and potentially selling a business, to exit so for for people who may, have not studied a lot, of business, or economic cycles.
11:46:59 or things of that Nature I'm just gonna take a minute to talk a little bit about how theoretically Things work today, right you're an Entrepreneur or a small business, owner or somebody who has an idea, for a product, or service, and you want to offer it to sell it make it available
11:47:13 to people solve a problem, and make some money in in the process.
11:47:18 And so normally, you'd go through whatever you need to do to define what that is whatever that product or services and then go seek funding capital funding in order to create that product or service, whatever it takes to do it deliver it to a marketplace where it can be sold and return some
11:47:36 revenue back to your company so that you can continue making the product and also pay back your investors and at some point, maybe even give yourself a paycheck
11:47:44 And then eventually the whole model is designed. If you don't go bust, because a lot of small businesses, don't make it into maturity.
11:47:56 But if your business makes it to maturity at some point you're going to be like, okay, either.
11:48:01 I want to run this thing all the way, till I die, or I'm ready to exit like I've I've had fun.
11:48:08 I've done my thing. I have an idea for another business, or another, product and service.
11:48:11 And so now I want to exit. This one, but it doesn't mean the business has to end there's a lot of ways to exit, as an Entrepreneur there's A. Lot.
11:48:18 Of ways to exit, a business. Usually it involves selling it.
11:48:22 So you sell your ownership, steak, or whatnot, and you cash out.
11:48:26 I'll use it her quotes and so depending on who you sell that business to you know just kind of determine, what kind of company, it becomes right?
11:48:34 You can sell that business to another private party, I mean doctors do it lawyers, do it you know, law, practices, all the time, merge, or or a larger law, practice buys a smaller one.
11:48:45 Because they want to move, into a certain geography, or diversify the type of law, that they practice, for instance, right, and those tend to be partnerships or smaller companies, and so that can all happen and then there's, larger companies for instance, like you know meta, or whatever you wanna put out there
11:49:04 Amazon, and you hear this Ipo initial Public offering.
11:49:06 Well, that's a different method, right? You can. You can sell your company, or your business to a private party, another set of individuals, or an individual you can sell it to venture, capital, some people, will just have a pooled oh, money, like I think dallas, gone into private ownership, through venture.
11:49:25 Capital, several companies have come and gone from public to privately ownership, through venture, capital, or you do an ipo and so then you sell stock to anybody who can buy stock on like New York, so exchange, or something like that right and so that company, raises capital you exit, you get
11:49:42 Paid out because these new owners in the open market have purchased the stock that you are able to then exit with or or you know you're selling it to these new owners essentially and then you move on with your life you take your money you move on but the company doesn't the
11:49:58 Company just is still expected to grow, and has new ownership and and it's supposed to happen Unlimited Forever and Consume all Kinds of Mass Quantities of Resources and Things of that Nature and so that's where it really goes Off the Rails for the Environment.
11:50:16 For people, when these things just get bigger and bigger and bigger and they're more conglomerated and at the End of the day, we don't even know We Think, We're Shopping at different Places, but They're All they all End up Being Owned by the Same, Company, just just
11:50:31 Kind of crazy so it's a little bit like that's the current state, that's that's what we live with today.
11:50:39 So we're pro proposing some changes to this right, I, think the beginning of a business in its life cycle is probably going to be remarkably similar in this new proposed Model, we're putting your startup, right and as a startup you're pretty risky you're not gonna go
11:50:56 Out to public capital markets, you're gonna look for some private, money so you're gonna you're gonna be in the Startup phase with getting validated, your Product and service, is gonna get validated, with some private money, and you're gonna try and also feed a growth Cycle, to grow
11:51:12 It so you can demonstrate. Yes, people want this thing, it's valuable.
11:51:16 I can sell it. Now we need to grow right, and so that can be.
11:51:22 You set up a corporate entity, a lot of startup, especially to limit your liability.
11:51:28 So you have maybe you have your own nest egg, you've been saving for retirement, but you don't want your company to take that out.
11:51:33 Right. So that's why most people either create an Llc or an S.
11:51:37 Corp, or a c corp, or something like that to protect their assets, create this other entity.
11:51:42 Now that can have a life of its own, and it can raise money and and cost money, and if it goes out of business, it doesn't take you out with it
11:51:51 But raising the money is pretty pretty, challenging, right. Most people go through venture capital, or nowadays.
11:51:58 We actually have some peer-to-peer investing platforms, which I think is really great.
11:52:03 I think that's really helpful, like micro loans for smaller businesses.
11:52:08 Things, like that, right. So you can always sell private shares in your business to friend's family, and anybody else who you're willing to give you money and it's not just you know it's not like maybe they're, buying a lottery, ticket, but they're gonna get like
11:52:20 A share of your company, and return. So if the company does and up getting big, you know, they have a they have a piece ownership in that and then like I mentioned seed capital through peer-to-peer, investing and other things, however, you would go about raising money, you would still do it I mean
11:52:34 I think ultimately, I would like to see you know more diversified resources, become available, like the small business administration may be doing direct loans, and not relying on banks and giving banks.
11:52:48 Like 50% underwriting, right? Like that's kinda how Spa, works, if you go to a bank today and you want a small business, loan, the bank is gonna issue the loan, and they're gonna you know they're gonna be on the hook for half of it and then the government's, on the hook
11:53:03 For half of it, But if that bank doesn't wanna do that loan then it doesn't get done, or that bank doesn't do Sba Loans and Loan doesn't get done but you should just be able to go to the sba and get the 50% equivalent.
11:53:15 Of whatever that capital was in my opinion, so that's one area that way might be part of the proposal
11:53:23 And banks can be chartered to to do. So right.
11:53:28 We have the like all of all banks, are regulated.
11:53:31 They they they can have the rules can be adjusted accordingly.
11:53:36 To say, you must reinvest right. I think we talk about levers that we need to have in this economy, and that's one of them is that there there can be requirements.
11:53:46 They already have community, reinvestment, requirements, or social corporate, social responsibility, requirements, out there.
11:54:00 No, that's right. Yeah, community reinvestment there, you're gonna make money off of People, you should also give them opportunity Don't Just Siphon, Assets, out of Communities so that's a Startup, phase Startup phases, are always Challenging, you're probably starting with some of your own money on
11:54:17 your own credit cards, which I don't recommend. but people do whatever they can to quote unquote bootstrap, their way to get something off the ground demonstrate the product and then you can get other people to give you money.
11:54:29 And this eventually, if it's successful, you go into growth, right?
11:54:36 And we think this next phase is supported relatively well by the current system,
11:54:43 Call this the Public, cycle, growth process. So again, you're probably some kind of corporate entity, you're an entity that can operate on its own, not you but your Company can operate on its own it can borrow on its own it can pay its own bills, and if anything happens to it it
11:55:00 Doesn't take out your personal assets. So around this time, where the growth is taking off, it generally becomes a better opportunity.
11:55:11 To look for bigger investors and those bigger investors can come in the form of larger venture.
11:55:17 Capital firms should probably go outgrown the peer-to-peer area.
11:55:21 You need way, too many peer-to-peer loans in order, to facilitate, the type of growth at this level so you're looking at large Venture Capital Groups of Entry Capital maybe even maybe even Banks, but Bank Financing Tends, to Be Pretty difficult just depending on how
11:55:34 Well established, and how much free cash flow your company has available or private borrowing is always an Option, and I think the fees are all tax deductible for the business so that works out well for banks, and then there's public you know going into public trading so
11:55:53 You you offer shares of your company, public platforms, like New York, Stock Exchange, Nasdaq.
11:56:00 Etc. And people buy a share of ownership in your company, and give you money for it.
11:56:05 And you use that money to operate the business. We've demonstrated that works pretty well, and it's relatively well regulated.
11:56:15 Yeah, we still have some insider training issues. And things of that nature.
11:56:18 But We don't have any proposals necessarily to modify that other than cleaning up some of the Regulation and Making sure that you know There's We're Eliminating Conflicts of Interest between Lawmakers and Ownership of Stock and the things, of that Nature
11:56:35 Where the rubber meets the road, so to speak, is in the final phase of these corporations.
11:56:42 So you think about the biggest companies, you've ever heard of, and I will tell you.
11:56:46 There's bigger ones you've never heard of. most of the biggest oldest companies that are out.
11:56:53 There are really on the own Unknown to us in general, so that doesn't matter.
11:57:00 What matters is that they're the reason why, that is the case is just because they have to continue to grow.
11:57:06 They have to continue to acquire other companies, restructure themselves, improve, their you know profit, margins, and things of that nature and it's just, not sustainable.
11:57:16 So this final phase for companies is really what we're looking at is the crux for changing the system.
11:57:23 In in the place where it probably performs the worse it's about introducing the sustainability, and ending put a cap on or ending.
11:57:33 This need to have growth for forever, right gross and profit, growth and revenue.
11:57:42 That's where it becomes a burden to society. It becomes a burden to our ecosystem, and our ability to just continue to do things on a regular basis, and so we consider this the community.
11:57:56 Reinvestment cycle for a common good. So once a company, you know, you you're an entrepreneur.
11:58:03 This is like the big argument. Around capitalism is that I've entrepreneurs.
11:58:06 Take a lot of risk. They should get a lot of reward for taking those risks.
11:58:08 And that's why they're allowed to make tons of money.
11:58:12 With these companies, however, there's no good argument that they should make tons of money.
11:58:15 For these, with these companies, forever, whatsoever right you take a risk you put in your assets, and then you cash out at some Point, the Cash Out Part is really important.
11:58:24 So we've talked about how you would start it how you would grow it.
11:58:28 And then at this point, when we're going to move into sustainability, you cash out you exit, you've done your entrepreneurial thing, right go start another business you rode this thing, all the way to maturity, whether you're a CEO or whoever it is even if you
11:58:42 Weren't, the original Entrepreneur right, you you came in later Entrepreneurs, sold the Company, or the CEO Publicly Traded Company, but now it's getting to a point, we haven't determined At what Level it Makes sense, we Don't know what the Litmus
11:58:56 Test, or the mark. Demarcating line is to say, Hey, this company is now moving from growth cycle to Sustainability Cycle but think about Soap Manufacturers think about unilever think about you know palm all of whatever we we just need to be able to Clean our Clothes, in our
11:59:12 Bodies, it doesn't mean that this company needs to have unending profit forever and ever and ever it really just needs to continue to provide a service and goods that are durable, and useful to society and perpetuity as far as we can tell and there's my means, and mechanisms
11:59:26 To do this in a way that makes the company sustainable for the comment good.
11:59:31 So we can all wash our bodies, and that's by converting these things essentially into nonprofit entities, right.
11:59:39 Why, once we've paid in created the business cash.
11:59:44 Now, everybody's gotten their return on their investment, whether you're a shareholder or or private investor, right?
11:59:52 You you gave it money, and it returned that money plus some interest, you're cashed out. It's done.
11:59:58 Its deal for Finance. Now, we just need to sustain the company, so that it continues to produce a product for the common, good.
12:00:08 And we can do that by taking out the shareholder aspect, or at least the the demand to return proceeds to shareholders, by converting these into a new form of nonprofit entity, and not only does it become nonprofit which doesn't, mean it doesn't make a profit, it just means
12:00:25 It doesn't return, a profit to shareholders.
12:00:27 It takes the profit, any profit. It makes and reinvents reinvests it back in it's a business, back in its people, back, in its employees, and so there's the form of this that we see today usually on a smaller Scale and I think it's, probably borrowed from
12:00:45 Marxism, Employee ownership, right, we have these Cooperatives, Usually tends to be the term that's thrown out.
12:00:54 There employee owned Cooperatives and so what you can do is you can take any private company, or even a publicly traded company.
12:01:01 So this Company has grown up it's got a bunch of shares open on the marketplace.
12:01:05 The employees can buy those Shares back or enough of those shares to take ownership of the Company in of itself, and it can be done over time, right it doesn't have to be like a big Bang okay, all Shareholders stock is getting repurchased by the Employees, of this company, companies, buying
12:01:19 All of its stock, back, that that doesn't need to happen overnight.
12:01:22 But we can start engaging in this process, where the company is removing itself from public ownership and it can be owned by its employees, who are there to operate it right and deliver the products in the services and for the profit not to be sent out of the company but to be retained
12:01:40 in it, to improve its processes, to take care of the negative or delirious, the that I can't even use the word, but the Negative of a fact that happened from Purdue, that product Ray Mentioned, like Waste, and and Pollution, and and things of that Nature so Let's not Export it to
12:01:58 another, place on the earth where it's just going to take longer to to get to us.
12:02:02 Let's deal with it let's take some of those revenues, and actually put it into solving some of those problems, so that the company does become sustainable and it does support the common good in perpetuity
12:02:16 And then this you know if it's nonprofit and it's point.
12:02:19 Owned it, it would come with a severe you know restriction to limit ownership access through publicly, traded shares, you know, in order for the employees to retain control the company and and reap the benefits internally, you you wouldn't have any external entities, companies or
12:02:37 otherwise owning more than 51, or 50 or 49% of any of these these, companies, that were employee owned they may keep some publicly Traded Shares out there, for the purpose of Raising, Capital I, mean, they probably still Need to do Capital, Improvements, Right we've, got to replace our
12:02:52 factory, or something. But you can always sell bonds for that, too, you know.
12:02:57 Don't forget about the bond market, the bond market is a great way to raise capital for any company.
12:03:02 So I'd say get Rid of all the Publicly Traded Shares and Just have private employee ownership
12:03:12 With that, let's go ahead and take a break
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12:04:30 You said something about you know capitalism about being rewarded for risk.
12:04:37 And I think what people need to realize is that eventually the risk is much larger and is eventually ported.
12:04:44 To everyone, that works there, right every one that wakes up every morning, and and commits their life, and their their family's, livelihood is is taking the risk to to rely on this, entity, that everyone's working at the same, on the same, mission, that Nobody's working against each other, we we We is
12:05:06 Employees. We as workers. Take on that risk, even at a bank, right the tellers are the ones opening, the bank locations, and the robbery, happens there, yeah, the the bottom, line, hits, the corporation, if there's, a Loss, but the Robbery, the trauma happens, right there in the bank, location.
12:05:26 With the worker, so that ring starts to scale, to everyone, and and that's.
12:05:32 I think what I feel you're saying is that that's same reward. Right.
12:05:35 So eventually you get your money, you leave right the entrepreneur great job.
12:05:40 But now everyone becomes a mini entrepreneur.
12:05:43 Everyone who sustains the idea, also deserves, the Risk Reward.
12:05:48 They what about the Return on Investment for the individuals showing up every day
12:05:56 Yeah, it's exactly right. And making sure that they're caring for their own futures and Nest eggs and things like that right you don't have a shady cfo who's gonna end up bringing it all down like an Enron.
12:06:11 Hate to go back to the nineties, but
12:06:14 Well, they they were all motivated right for the wrong reasons.
12:06:17 It shows you what a collective energy can, do if you but it, but focus it on the right thing. And by the way, the Enron was just trying to survive that system, system of end, lisp, profits, unsustainable growth it's just not possible, at the top
12:06:34 No, we need to change things
12:06:38 Oh, go ahead and move into our calls to action.
12:06:44 These may not feel particularly material. They may be more thoughtful.
12:06:48 Than action Oriented consider opportunities for your own ideas to start a business I think it's it's not easy for people.
12:06:58 You know. If you don't have a background in business or anything like that you know to wrap your head around what we're talking about.
12:07:04 Necessarily. But if you just try to wear those shoes for a minute, just think about your your own possible journey.
12:07:12 If you were, maybe to become an entrepreneur right?
12:07:15 Just consider what kind of opportunities. You know you you might consider what product, or service that you might provide.
12:07:22 That would be in demand. You know. Just think you don't have to do this on paper with a spreadsheet but just like, okay, what would I want to do just a thought experiment.
12:07:33 Okay, then, I figure, out, what I want to do. Potentially, how much would it cost to realistically begin selling this product, or marketing, this service, right?
12:07:43 How much overhead is really involved. Is it just me. Would I actually have to bring other people in do I not have all the knowledge or or the wherewithal to be able to produce whatever this is just again, a thought experiment you don't even have to put anything on paper
12:08:00 Then think about where and how you would find customers and and sell the Product or service, and check out the amounts, you might be able to raise through Existing Pure Group, Lending Platforms Right just be or just consider the Fact that You could go out to any One of those Companies I Can't think of
12:08:18 any of the Internet. There's some newer ones that have been starting up.
12:08:22 Startups to help startups raise money, But just know that those things are out there and think about well, how much how much money would you realistically need for this product, or service
12:08:50 By going through this thought exercise hopefully, you would would be anchoring a little bit more on some of the topics that we were talking about, earlier
12:09:00 Put yourself in the shoes or the mentality of that entrepreneur who wants to bring that thing to the market.
12:09:07 And then you know, cash out at some Point, cause. That's the whole really the whole point of doing this, is that We're taking Capital, and returning capital, and and There's some value that's created in the whole transaction if you can simplify those ideas to yourself, I think it makes
12:09:24 A little bit more accessible to the the journey that we're describing, and then even in this thought experiment, at the end of the road, Pat yourself on the back, for for giving all the Employees, the Opportunity to own that Company or even pivot that view, how would you Feel to Work for a company, like
12:09:44 That that then offers, you ownership or that you would join that company with it offering you ownership, so that you have a seat at the table on the board you know through representation and you know that overall what you're contributing your time and energy to is something that is to wonder degree
12:10:03 Or another, looking out for you, and your future and your retirement.
12:10:11 Hopefully some of that thought experiment will help make the model slightly more material in your own mind.
12:10:17 And you can see the the possibility there, and perhaps it even inspires you to become an entrepreneur even if we don't have this model in place I think it's still worthy, journey.
12:10:26 For a lot of people.
12:10:30 The other call to action. Besides, just the thought experiment, we have is similar to a lot of the refrains.
12:10:35 We put out for calls to action. We would urge you to support local, leaders in both business and civics that are willing and capable of trying something new to spur the Coming of the next great economy.
12:10:52 We need people to think differently and act differently in order to change. The future that's going to be better for us all
12:11:01 One such potentially revolutionary idea is to support new avenues or providing access to training and funding for aspiring entrepreneurs, as well as new businesses, so besides just going to the Sba and getting that 50%, of the Loan they Would have Guaranteed
12:11:20 another bank, being able to get that startup capital. But more importantly, wouldn't it be nice to be able to explore resources, that help you direct that capital in the Most Efficient way possible to help you avoid some of the poor decision, making or pitfalls that are a risk to any new
12:11:38 Entrepreneur or Small business owner. I think there's a whole responsibility around training in that space.
12:11:45 And it doesn't require an mba. Let's be clear to be an entrepreneur does not require an mba degree.
12:11:52 Whatsoever, starting a small business requires no Mba.
12:11:56 It requires some training. It requires some. Knowledge, and if you've ever operated a household, you've already got a fundamental concept in place that can extend around a small business, and then where does.
12:12:08 Mba, come in Nba comes in big big big companies lots of dollars, lots of Opportunities, to do different things with capital, because there's just so much there to do with but a small business, operates, more like, a household, you know, it's, limited income it's limited expenses, and
12:12:26 The profit, margins Aren't so great you usually don't have a lot of employees.
12:12:30 Once You, Scale, once you scale to a huge degree that's when that Mba and all that other fancy financial background type, stuff comes into play.
12:12:41 Because now it's less about the product, it's less about the Service, it's Less, about the Company, and it's all about the capital, and that's where things tend to get pretty unsustainable.
12:12:55 Lastly, please share with us what you think about these ideas.
12:13:00 You can go out to our sponsors, Facebook, page at Citizen Dogod and comment on this episode, or other episodes, or you can probably just post to us right out of the blue we'd love to Hear from the Community and and what you think About these ideas for creating a more sustainable
12:13:16 Economic model for us, and a better future for us, all
12:13:21 I would say yes, it might sound odd, but we are interested in your input, we want to hear from the people I think one thing I noticed is a lot.
12:13:32 Of Podcasts are just there to give you only one message.
12:13:37 Almost like they're being fed it from some kind of funder.
12:13:40 I don't know, but you know, here we're really interested in having a conversation it's always been the main purpose.
12:13:47 And and and I think that that's the next step is getting to
12:14:01 You're here, that's a rap we have been your hosts.
12:13:53 That conversation and the Civil Conversation We've been looking for for a while, join us
12:14:07 Thank you to Mr. Raymond Wong, Jr.
12:14:17 Delicious it's been something, that's for sure for information on this in other episodes, head over to citizen, Duke, Com, and Click on Podcast while you're there, hit up the contact Us, page, and leave a comment We'd love to hear from the community special thanks to your Listeners, We've, saved the Best for
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