We had marginal profit I did.

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.

I asked them all.

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

I'll just abbreviate that as Nl.

Minus 500,000.

So the idea is we can make advertising useful, not just annoying, right?

Our interests clash with theirs.

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

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.

I'm not a charity commissioner.

Go ahead, eat.

Before Interest and Taxes.

So that's a nice thing to keep in the back of your mind, this return on asset concept, and it's very closely tied to operating profits and the actual assets of a firm.

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

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

Kill the goose that lays the golden eggs.

The taxes will be 153,000.

A benefit to both our worlds.

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.

They have no interest expense, because that's not the point of this video.

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.

You can only sell luck in an unequal society because you offer a life changing reward. The monetary system is based on profit leading indirectly to corruption, any game can also be corrupted.

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

And that's what these brands did.

FDlC insured.

And that's my dad found that.

The rewards would be... enormous.

The people would become the defenders of that forest.

And you'll hear these numbers, gross and operating profit and net profit and pretax profit, and it's very hard to understand that these are actually very, very different things, because they all have the word profit, and what does gross and operating and all that mean?

With trade, there's mutual interdependency and mutual gain between parties.

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

It has advantages.

A statistical edge?

This is 350,000 of net income.

This was interest. This was non op income.

This guy makes what is this?

And then I was left with 1 million.

It's good for everybody.

Fair enough.

Why make this thing?

Why isn't it on every poster across the third world?

And we had no expenses in that month.