Let me give you another example of delegation.

But is, in fact, about the art of delegation.

Delegation to organizer is not possible.

In some cases this will involve a delegation of responsibility, a delegation of control from one country to another to take over certain kinds of administrative responsibilities.

And it turns out that illiterate people are masters of delegation.

We thought of people as a liability.

Lynn Verinsky Because of liability insurance. (Laughter)

This is a liability.

Well, assets minus liability.

So that's a liability.

So, let me give you an example of delegation in practice, right.

liability side of the balance sheet as well.

For the liability side of my balance sheet

It has 4 billion of cash, 4 billion of liability, it could pay off its liability with that equity infusion.

Why is it a liability?

Accounts Payable is a liability

That'd be my liability, right?

That could be a liability.

So I have zero liability.

So you have an Accounts Payable liability of 100 sorry, at this point we had no Accounts Payable liability and then after the end of the month we have an Accounts Payable liability of 100.

Your liability would be the loan.

So now I have this liability.

I have 1,000 gold pieces liability.

And why is it a liability?

So it's a liability to me.

And pays off the liability holders.

So just this is liability, 750,000.

Subtract the liability from both sides.

So France sends a delegation, headed by this guy right there.

What is my assets minus my liability?

And then the offsetting liability for me,

That we'll just put generally as liability.

So the only liability is this 5,000.

This is a liability for me, right?

So over here you had another liability.

French diplomats arrived in Moscow, coming from Karachi, the Russian delegation said Karacho .

that assets are equal to liability plus equity.

So he has a one IBM share liability.

Maybe there's some type of environmental liability that the company is somehow understating.

And this is a liability, loan from Bank B.

On the liability side, the bank just owes a

So, as we have faced liability, we have stepped back and back, and unfortunately, where there is liability, guess what there is power.

On the Day We will gather the righteous to the Most Merciful as a delegation

And it might not be obvious. We're increasing a liability.

Debt isn't the only kind of liability, but that's a pretty reasonable simplification for now.