Great quotes of note:
If you get a good jockey you can replace the horse. But if you get a good horse and you don't have a good jockey, it doesn't matter.
If it's a bad idea, giving [someone] the money only just delays the inevitable.
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You know the difference between when we all started our business versus now? We always get to, "How much of your own money did you put in?" "Is it your own money?" "What did you spend it on?" And it's always, lawyers, lawyers, regulation, trademarks, patents, everything but the business itself.
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That's what I want the politicans to see, that the money is going to the things that are counterproductive and that's keeping people from growing businesses and hiring people. Because if you're spending $100 an hour on a lawyer - a trademark lawyer, a patent lawyer - you know, an accountant, a tax advisor to fill out forms for you, that's time (and money) that could otherwise be spent visiting customers, visiting prospects, selling your product.
Something's gone wrong the last three years in America because we vilify business. All of a sudden, people who create the only jobs that matter - the ones in the private sector - are vilified.
They talk about the importance of creating jobs. First, there are an infinite number of jobs. As long as there are infinite wants - and there are - there are infinte ways to employ my labor services to fulfill those wants. The important thing is for me to do those things most valued and let the rest go unfilfilled.
Jobs are a byproduct of creating value and it's important to not put the cart before the horse. If creating jobs is the overriding objective you get a misallocation of resources. It's the primary problem with Keynesian economics. If "creating" jobs is what's important, let's put people to work digging holes and filling them back up. Let's get rid of machinery and force people to dig with spoons and farm with rakes. We end up poorer, not richer.
What these Sharks (and this is such a misnomer) are really implying - and it's what's really important in this discussion - is that entrepreneurs utilize and employ scarce resources to higher valued uses. Entrepreneurs take currently idle or undervalued labor and put it to work creating more value per dollar than how that labor had been employed. This is what politicans miss when they vilify entrepreneurs, especially the most successful of them.
My hats off to these guys and the great show that they put on each week.
UPDATE: The problem with using terms like "creating jobs" as if that's the ultimate objective is that it gives politicians license and political cover to destroy wealth by taxing the most productive and successful, or borrowing recklessly, to build bridges to nowhere under the guise that they are creating jobs and that's what's important.