(Laughter)

The word arbitrage sounds very fancy, but it's actually a very simple idea.

We got it.

Yeah, we got it.

Did you get it yet?

Simon's Shark Slime.

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

Since that time, we've had all kinds of acknowledgment.

It's been pounded for a billion years with a lot of energy to make it have all that energy contained in it.

And here too, you can see the implications in the world at large.

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

And then I'll do a more philosophical video on why these things even exist, and why they're useful, and why people may benefit or may not benefit from these things.

I got him.

But you won.

With far too few of your sinister plots actually turning a profit.

It says a lot about her peers who elected her.

It's like the Olympics of food products.

The pie's getting bigger because these are real investments that are going to benefit my village.

But I've captured this cat.

And so I actually raised prices.

I profited 200,000 yen yesterday.

Even if it benefited the publishers, it was a creative right and author's right.

These are the only people who really have, arguably the sophistication and the time and the monetary incentive to really look and scrutinize what management is doing.

He was a good another.

If you won a million yen, what would you do?

Cash is a asset because you can use it to buy stuff and get people to do stuff for you

And now they started to get a better understanding of what customer relationships were, about getting customers, keeping them and growing them.

And then if you subtract your costs from your revenue, or if you just add these two numbers, because this one is negative, you have your gross profit.

It's dependent on how the operations were financed.

In a word, he gained much profit.

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.

But the marketplace was down 36 percent.

They got it. Okay, listen.

Well getting customers is just like it sounds.

Before I go into price to earnings and all that, I want to connect the dots between the income statement and the balance sheet.

In just a matter of a few weeks, an undergraduate student of mine built an app that ultimately reached 1.3 million users.

They obtained a yield of 8 percent on their investment.

He derived great benefit from the book.

He derived a lot of profit from the enterprise.

His business returned a good profit.

I made a good profit by selling my car.

If you and I one sell individually what little we produce,

They acquire a library of intellectual property rights, then litigate to earn profits.

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

That is, already with the first mission we regained our investments almost fivefold. Any accidents?