If you sell for $10 something that costs $1 to make, is that a 90% profit or a 900% one?
this post was submitted on 19 Aug 2023
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Profit = revenue - cost
So if you put in $1 and got back $2 that’s 100% profit. 1000% profit would mean you put in $1 and got back $11.
Wait why 11?
$1(Cost) - $11(Revenue) = $10(Profit)
$1(Cost) / $10(Profit) = 10 or 1000%
It’s $11 because you have to cover cost and then make 10x on top of that.
It would he 900%. The equation is: profit percentage = (profit / cost) * 100%
Let's argue about how the estimated number that's probably rounded up is wrong and not the fact that this price gouging should be illegal.
If you think they are charging too much perhaps you can compete with them and make a cheaper one.
Not the point of my statement. Regulations need to be set for things like this. Knowledge needs to be shared. Humanity needs to progress past competitive behavior.
Knowledge needs to be created. profit is a good motivator. removing it is harmful. you need to take a broader view and consider how the knowledge you want to be shared is createdin the first place instead of taking it for granted.
Please explain to me what view I can take to see that money and greed isn't what's ruining the world we live in today.
Start by not taking things for granted and try to see the world from a causal perspective. It also helps to be objective so be aware of your biases. Studying history can also provide you a broader understanding.
I'm confused. I work hard, I pay my bills and taxes I don't think I'm taking anything for granted. I just personally believe that knowledge shouldn't be gatekept behind trade secrets.
ask yourself where does knowledge come from. if you can put yourself in a position where you actually generate knowledge you might gain an appreciation for the efforth it takes.
Knowledge comes from trying something until it works taking notes the whole way. Knowledge comes from collaboration with colleagues and friends. Knowledge doesn't come from secrets and unfriendly competition. That's my short version. Would you like to add on to this?
if you believe that knowledge comes from collaboration with colleagues and friends you should be content with that knowledge and not covet something that according to you doesn't even exist , i.e. propietary knowledge and trade secrets.
Do you think it's right that Nvidia has one competitor? Not even 50 years ago monopolys were considered illegal and a threat to society. Allowing them to manipulate the market that they have sole control over. Do you think it's right that you can buy a product that you don't have full control over? It's not good for society, it keeps the poor ignorant despite of their intelligence. Coveting others may be a sin, but so is greed.
Is that after the R&D expenses?