Where was it that that guy worked? He gets $7.29 an hour? I deliver pizza and only get $4.50. He has it pretty good. I have never heard of a driver getting that much anywhere. I could certainly move up to that level.
You wonât get anywhere talking like this on ET. Unlike this guy who failed in business and now delivers pizza to pay the bills, I deliver pizza and used to save a ton of money that I used to start businesses and invest with. Nobody cares about that. All anybody around here cares about is that Iâm a loser pizza delivery driver who has failed, just like this guy. I donât really care though. Most people around here look at the end result and then critisize you for your decision instead of looking at the situation at the time and asking if that was the correct decision at that moment. But most people donât care about that. They only care about the end result, not how you got there. If this guy did the exact same thing, but instead became the next brilliant hedge fund manager, these people wouldnât be saying how stupid he is. They are judging his choices he made at the time by what they already know in the future. One example of this I can give is Jim Cramer in his Confessions book. There is a time in 1998 when his hedge fund was taking a big hit. Then a ton of withdrawl requests came in at the same time. As the day neared when they had to send out the wire transfers, they were desperately trying to decide whether to liquidate their positions and take the big loss, or send out the wires hoping that their clearing firm would honor them and give them margin against the securities. Even if they did, they ran the risk of margin calls if the stocks kept tanking. If that happened, the whole thing could blow up. Well, the wires went out on the almost exact moment that the market turned. He went on to triple the fundâs value in the next year. This was obviously a very dangerous gamble that he probably shouldnât have taken, but he did and it paid off. These people here will never critisize that however. They wonât critisize a gamble that turned out fine, just ones that donât. On another note, even though I deliver pizza I have learned a few things along the way. The first is, donât ever assume things can only get better. On the contrary, always be prepared that you might lose what is keeping you afloat. Also, the more you have, the harder you can fall, and the harder it is to get back up. This guy should have at least paid off his house, or had equivalent cash to pay it off. Anybody with half a brain would have known that any sort of business like what he was starting, has a high failure rate. When I put money in a trading account, I count it as gone. You want to know why? Because it usually ends up like that. Itâs not cash again until the check is in the mail. This is just common sense. Anytime Iâve started a business, Iâve always assumed the worst case scenario and then asked myself if I would be able to handle that. Although I have failed at so much, Iâve never gotten myself into a situation quite like this guy has. He should have asked how much he could lose, not how much he could gain.
I keep this quote on my phone and have posted it a few time on ET as well. I think of it everytime people question decisions Iâve made that have resulted in failure. I try to listen and learn from their advice, but itâs hard when the people telling me stuff havenât tried anything even close to what I have. I also think of it everytime I see a Congressional hearing. Donât Senators know that businesses canât print and borrow money endlessly like they can?
Wow I never thought the day would come when I would agree with you on something, but yea you pretty much have it right. Franchises are really just owner run and financed stores. You basically buy the rights to run their store. Everything else is decided by corporate, and you certainly have to be approved. Even the food is processed by corporate run commissaryâs. Franchisorâs buy territorial rights so that others canât open a competing store in their area.
He failed miserably. We get it, he's delivering pizza. What else do you want? Can you imagine if you lost your edge and blew your account tomorrow? What would you do? Apply for a job as???
Frankly who cares, the only reason he took a delivery job as a pizza boy, was to publicize his plight. I'm sure he could have found something better. Yet going from a corporate bigwig, to a pizza delivery boy, was a better story. He is marketing himself, looking to get some sort of return on his misfortune.. Its correct, if he became a multi-millionaire, we would applaud his courage risking, all to take a chance. It was still stupid, he had to much to lose. By any measure he already grabbed the brass ring, he had a life most people only dream about, he threw it all away. He took his shot and lost end of story. To bad, bring me an extra cheese with pepperoni. My tip: DON'T LOOK A GIFT HORSE IN THE MOUTH!!
Sandybestdog, your experience is not the same as this man. You tried and took some risk, but you live with your parents you said. Do you risk your parents home to make your business work? No. You know if you fail at first with your business, you have not lost a place to sleep and eat. So your risk was not like this man. No, you are not a loser like you think. Would you take all the equity of your parents house to place your bet if they said ok? And Jim Cramer had a risk of losing his hedge fund with redemptions, and margin calls...but, if it blow up, is Jim Cramers life savings and home equity in that fund? No. He can pick up himself and go again. But this hedgefund/pizza man man has no risk management, then goes on the tv to say he has food stamps and a pizza job. Hmm, but he still lives in that house, and he still has many more connections to friends in the hedge fund world. But he trys to pretend he understands poverty and neediness, and he is insulting to anyone who was poor and built their life. He is using the poverty to make his story, but he never lived that life.
` All he did was waste money and even if he succeeding, he would produce NOTHING. Why should he be respected? He had an easy cushy job that a monkey can do and thought he was hot shit. Then reality hit. What is so respectable about that? Why would you respect a fool who was lucky enough to get with money in the first place?