Kill the goose that lays the golden eggs.

Many advantages accrue to society from the freedom of speech.

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.

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.

They're generating the operating profit, and that's a very important thing to realize in the future when we talk about return on assets.

They are things that have value.

A benefit to both our worlds.

I'll just abbreviate that as Nl.

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

Go ahead, eat.

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

And that's my dad found that.

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.

So that's a little bit of a taste of why someone might realistically, in this case, pay a higher Price to Earnings for safety.

We need to get away from saying democracy matters because of the other things it brings.

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.

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.

So, let's see, you have to do 1.85.

Quick example from the corporate world.

We had marginal profit I did.

Where the profits flow, we will s...

No one wants it to go off.