Speculation is not a business. It is usually a bad idea. It causes one to descend into rather disgraceful circumstances. Many kids would benefit greatly from the attention they got from their father that these kids did, but it is clear this program was not the best way to spend family time. And to descend to gaming the system is probably not the best lesson to pass on.
I recall thinking beanie babies were a consolation prize for those who did not invest in the dotcom boom. Ty Warner had a business making toys that delighted kid's imagination. He managed it very well, becoming a billionaire running a small business. He himself had nothing to do with the speculation in beany babies.
That at first it was exciting (note, not a passion) and then got dreadful is typical of speculation.
That the father is still remorseful is pretty clear. That there is active rationalization going on after all these years shows it is still an issue. But note the T-Shirt he is wearing in the video. "Bankrupt by Beanies." It's clear he has not admitted he bankrupted himself. Mustn't blame the toy.
Hoping the toys come around again and the speculation pays off will only keep the hurt in play. He needs to go to swap meets and sell them all off at $2 a piece until they are gone, and get on with family life. There is a second video here, after he has sold the last beany baby (or second to last, might as well keep one souvenir.)
If you are hanging on to something that went bad, time to clear the decks. Hanging on to the dolls is to miss what good one can do. Admit mistakes, lick the wounds, get ready for what is now. Business is about serving others. Speculation is about making money without serving others. The worst thing that can happens is speculation succeeds for you. Then you'll never want to work again. Better you fail like this speculation. But as you see, even losing at speculation does damage. Do business, don't speculate.
One clarification: I am a big believer in price gouging in a disaster, which is not speculation. It is disaster relief.
Feel free to forward this by email to three of your friends.
I recall thinking beanie babies were a consolation prize for those who did not invest in the dotcom boom. Ty Warner had a business making toys that delighted kid's imagination. He managed it very well, becoming a billionaire running a small business. He himself had nothing to do with the speculation in beany babies.
That at first it was exciting (note, not a passion) and then got dreadful is typical of speculation.
That the father is still remorseful is pretty clear. That there is active rationalization going on after all these years shows it is still an issue. But note the T-Shirt he is wearing in the video. "Bankrupt by Beanies." It's clear he has not admitted he bankrupted himself. Mustn't blame the toy.
Hoping the toys come around again and the speculation pays off will only keep the hurt in play. He needs to go to swap meets and sell them all off at $2 a piece until they are gone, and get on with family life. There is a second video here, after he has sold the last beany baby (or second to last, might as well keep one souvenir.)
If you are hanging on to something that went bad, time to clear the decks. Hanging on to the dolls is to miss what good one can do. Admit mistakes, lick the wounds, get ready for what is now. Business is about serving others. Speculation is about making money without serving others. The worst thing that can happens is speculation succeeds for you. Then you'll never want to work again. Better you fail like this speculation. But as you see, even losing at speculation does damage. Do business, don't speculate.
One clarification: I am a big believer in price gouging in a disaster, which is not speculation. It is disaster relief.
Feel free to forward this by email to three of your friends.
1 comments:
I think this is more than just speculation, it looks like an unfortunate mental disorder as well - an obsession and hoarding mentality. Not a good combination.
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