PUMA has 2.7 billion dollars of turnover, 300 million dollars of profits, 200 million dollars after tax, 94 million dollars of externalities, cost to business.

This is really important to pay attention to, because so many people say, oh, a company made this much.

But here you see it means very, very different things.

And at least it'll give you a sense of how revenues, gross profit, operating profit, pre tax income and net income really are different.

Our interests clash with theirs.

Minus 500,000.

And, of course, as I mentioned, this cost has corresponding benefits.

This is what the owners of the company get before they pay the government.

(Laughter) But I know it's the bottom line, or one's perception of it, that motivates people in the end.

volume

Kill the goose that lays the golden eggs.

A benefit to both our worlds.

I'll just abbreviate that as Nl.

Go ahead, eat.

And when people talk about earnings of a company, this is what they're talking about.

Volume Descriptor

And that's my dad found that.

Volume Id

Volume Name

Volume Name

You buy a hen, and it lays an egg every day of the week, and you sell the eggs, say, seven for twenty five cents.

I'm going to take the cost of what it takes me to build the product, and I'm going to add some fixed markup whatever I think my profit should be.

And that's what these brands did.

FDlC insured.

The rewards would be... enormous.

So you've probably heard not only the term earnings, you've probably also heard the term earnings per share.

They buy more of your service and they tell more of their friends, which leads to more profit.

And let's say, assume if I inherited this million dollars, I didn't finance it.

Volume Size

The reason this is happening boils down, in my mind, to one basic problem, which is our inability to perceive the difference between public benefits and private profits.

This is 350,000 of net income.

Why make this thing?

All the profits go toward Phillip's hospital bills.

If the cost to produce the item is 20, so the cost to produce an item is 20, what is the selling price that optimizes the yearly, the yearly, profit?

The taxes will be 153,000.

I'm not a charity commissioner.

We are assuming a very simple world, were the is no taxes, we have no debt, we have no intrest or things

It's also important to think about what the benefit is.

So now look at the different lens.

Peter The greatest benefit to all.

Science comes first, but business comes a close fucking second.

It is to his advantage.

We're better off without the TPP

There is no doubt about what they have done.

And this is, I think, a perfect example of what Robert Wright was talking about in those non zero sum things.