But again, fun is not enough.

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

Hey, that's pretty big.

Unless you're the ballet theatre of Hartford, the purpose of a business is to make a profit.

And I think you already get the sense that the lower the

Why wouldn't I just pour all of my money?

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.

A looked expensive.

So that's going to be 500,000 a year.

But when you lower the Price to Earnings you are increasing the Earnings to Price.

Maybe Toyota has an incentive there, but even Toyota is making more money off the luxury cars, and less money off the cheaper cars.

We don't trust America anymore.

Because that's not the point of this, but you can apply some tax rate to this and figure out what their net income is.

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

This is a pretty profitable business, more profitable than most.

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.

Anyway, I want to leave you there.

What computer manufacturers got in exchange was gross margin that they never would have gotten in a low margin business.

Our interests clash with theirs.

Let's say that we don't know that they're truly equal.

Now this is the major change that I've seen how teaching English has morphed from being a mutually beneficial practice to becoming a massive international business that it is today.

Money lenders are enjoying a profitable period.

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

I wouldn't give up, I would just be going back and looking at the customer segments you are targeting and understand whether you want to build the business or have a hobby.

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.

Somebody who treats your product like the simple highmargin commodity that it is.

Well, that's just good business.

Interest rate

Their plantations produce tons of sugarcane, hugely profitable business.

So now the market's willing to say, hey, you know what?

Kill the goose that lays the golden eggs.

So let me switch colors just to ease the monotony.

A benefit to both our worlds.

I'll just abbreviate that as Nl.

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.

Go ahead, eat.

So growth is the other reason why you're willing to pay a higher Price to Earnings ratio.

It's before we think about how the business is structured.

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

Coupon rate

Market interest rate

And that's my dad found that.

Why would someone ever keep their money in the bank at 2 or a Price to Earnings of 50, when they could have a Price to Earnings of 10 with Widgets Inc.?