If you had 500k, what business would you start ?

Discussion in 'Business, Careers & Education' started by aj_del, Jan 16, 2011.

  1. NameBack

    NameBack Senior member

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    Probably not, actually. In total anarchy, things will revert to a barter economy. You'll trade 5 shotgun shells and 1 chicken for a few pounds of beef, or what have you. Land, and the ability to successfully defend it, will also be at a premium. The most likely "currency" to emerge will be grain -- which can be stored almost indefinitely under the right conditions, and can also feed people and livestock.

    Currency as we know it, let alone trading of precious metals, will not return in earnest unless and until civilization is restored.


    This is correct.

    Commodity-based currencies are actually just as dependent on government support and regulation and fiat currencies -- they just put artificial limits on monetary expansion that result in unfortunate contractionary monetary policies that contributes to deflationary spirals and periods of recession/depression.

    Back in the day -- like, before the modern nation state -- people did use metal coins as currency, but archaeological and historical evidence actually points to these being fiat currencies, no different from today's paper money.

    Consider, after all, that prior really to the industrial revolution, virtually no one had the skill or ability to issue precise weights of precise amounts of precious metals -- Roman denarii from the same time period, for instance, vary wildly in weight and composition. This indicates that they functioned as tokens representing a fiat currency of the Roman Republic/Empire.

    The same goes for essentially all metal coins and currencies up until about the 1500s.

    Commodity money, really, is a fairly recent invention, and also a spectacularly stupid one because it ties the size of your money supply to a completely arbitrary number -- the amount of said commodity that you can get your hands on. Fiat currency is far superior, and people who argue otherwise have feeble minds and are easily persuaded by conspiracy theories and quack economics.

    Conservative, moderate, liberal, or anywhere between or around those ends of the spectrum, you won't find any serious economist who advocates a return to commodity money. Hell, even the Austrian school generally doesn't push too hard for a return to the gold standard. It's a purely irrational, un-empirical, flat-out-stupid theory pushed by fringe loonies on the right and taken up by the gullible and the uninformed.

    And, yes, if you're really worried about the apocalypse, then get yourself a Glock, some penicillin, and some canned beans.
     
  2. olualbert

    olualbert Senior member

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    Fiat currency is far superior, and people who argue otherwise have feeble minds and are easily persuaded by conspiracy theories and quack economics.

    Interesting perspective....I do believe gold will be the standard. However, I do agree that those who have mastered the acts of farming will be sitting tall.
     
  3. HRoi

    HRoi Senior member

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    microfinance. in a country where the capital markets are underdeveloped (plenty of those in Asia and/or the Caribbean).
     
  4. Studiofan

    Studiofan Active Member

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    I am fairly familiar with India and was there last month on business, so here it goes. Being on SF you probably enjoy luxury, luxury goods are a booming market in India due to all of the "black money". You could always open up a watch boutique, make a down payment on a loan for a car dealirship, or open up a cigar/wine store. If you dont feel like doing much just invest in emerging stocks
     
  5. Don Carlos

    Don Carlos In Time Out

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    I'm starting a new Ponzi scheme. If you're one of the early investors, you'll cash out bigtime. If you're one of the late investors, you'll lose your shirt. Better get in early, then! PM me now for a prospectus.
     
  6. calisanfran

    calisanfran Senior member

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    I would purchase put options on Don Carlos' ponzi fund.
     
  7. Studiofan

    Studiofan Active Member

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    I'm starting a new Ponzi scheme. If you're one of the early investors, you'll cash out bigtime. If you're one of the late investors, you'll lose your shirt. Better get in early, then! PM me now for a prospectus.

    Is it ok if I pay you in un marked $100? Can I just mail a briefcase filled with money to you?
     
  8. aj_del

    aj_del Senior member

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    Thanks for all your replies
    I am fairly familiar with India and was there last month on business, so here it goes. Being on SF you probably enjoy luxury, luxury goods are a booming market in India due to all of the "black money". You could always open up a watch boutique, make a down payment on a loan for a car dealirship, or open up a cigar/wine store. If you dont feel like doing much just invest in emerging stocks
    I wasnt asking for ideas for me to start in India, I was asking about your own dream, passion etc. Anyways, it is nearly impossible to buy a car with black money in India.
    microfinance. in a country where the capital markets are underdeveloped (plenty of those in Asia and/or the Caribbean).
    Microfinance is a dirty word in India and Bangladesh. Huge backlash etc.
     
  9. gnatty8

    gnatty8 Senior member

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    No question. Cigar bar. Love cigars, love whisk(e)y. That $500k should fund at least 3 years worth of losses.
     
  10. imageWIS

    imageWIS Senior member

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    two businesses, in parallel

    1. international business consulting company that I would run

    2. gelato business that my wife would run

    nice diverse portfolio


    "So, what does your family do?"

    "we run an international consulting firm servicing every business sector, utilizing our 5000-plus employees in over 100 countries. Also, we make ice cream."

    [​IMG]
     
  11. imageWIS

    imageWIS Senior member

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    If I was truly rich, I would open up a second hand book store. It'd never turn a profit obviously, but would be such a great and fun thing to own and run.
    Oh, oh, I've seen this movie! [​IMG]
     
  12. imageWIS

    imageWIS Senior member

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    I would start a charitable organization. Harvey_Birdman's Home for Wayward 8+ face and body 18 Year Old Girls.

    FTFY.
     
  13. cptjeff

    cptjeff Senior member

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    If I was truly rich, I would open up a second hand book store. It'd never turn a profit obviously, but would be such a great and fun thing to own and run.


    The one where I'm from does... Ed McKay's in Greensboro NC. The textbooks section prints money, as do all the DVDs, video games, ipods... Oh yeah, and the warehouse full of books. And the place is always pretty crowded.

    Run one right, build a loyal customer base, and you're set. The books are cheap, but they don't pay much for 'em.


    As for what I would start up? No idea. Probably a liquor store with attached bar.
     
  14. imageWIS

    imageWIS Senior member

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    Consider, after all, that prior really to the industrial revolution, virtually no one had the skill or ability to issue precise weights of precise amounts of precious metals -- Roman denarii from the same time period, for instance, vary wildly in weight and composition. This indicates that they functioned as tokens representing a fiat currency of the Roman Republic/Empire.

    The same goes for essentially all metal coins and currencies up until about the 1500s.


    I never understood that. The technology, or lack thereof of the Romans to forge coins in a uniform manner. If not uniform at least looking more like this:

    [​IMG]

    And less like this:

    [​IMG]

    Swords and other metal objects were far more uniform in construction than coins, why?
     
  15. NameBack

    NameBack Senior member

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    I never understood that. The technology, or lack thereof of the Romans to forge coins in a uniform manner. If not uniform at least looking more like this:

    [​IMG]

    And less like this:

    [​IMG]

    Swords and other metal objects were far more uniform in construction than coins, why?


    Well, it's not that they were more uniform in an absolute sense. It's just that they appear more uniform.

    Basically, if you have a margin of error of .1 oz, that matters a lot more when the thing you're forging weighs .4 oz than if it weighs 4 lbs.

    That's really what it comes down to.

    It wasn't just the Romans, by the way. That sort of level of error was common up through the 18th century. Currency became more tied to precious metals even before that (see various inflationary/deflationary crises in Europe in the 16th and 17th centuries due to large finds and then exhaustion of precious metal veins), but even so individual coins were non-uniform.
     

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