Thread by @DannyRoars

So you want to understand money?

LeBron James recently signed a 4-year, $153.3 million contract.

The crowd: "Why does he make this much money? He's ONLY a basketball player!"

The answer is value. He allows people to escape, to believe they are in a different world.

The crowd: “But wait! How come teachers and nurses make so much less? That’s not fair!”

The market does not reflect fairness. It shows what people value.

When people go to a casino, they value the entertainment.

When people watch basketball, they value LeBron James.

It turns out many people watch basketball. Therefore, LeBron James is valuable to society. Therefore, he gets paid a lot of money.

The market does not care about the greatest societal benefit.

How does this apply to you?

Do not worry about providing the greatest benefit to society. You don't need to start a non-profit to make money.

You need to provide some sort of value to someone (for a large price) or a lot of someones (for a lesser price).

Make sure you are ethically comfortable selling whatever you choose but after that focus on selling it.

Do everything in your power to get it into the hands of the consumer.

It is your responsibility to provide this value.

Otherwise, you won't get paid.

Provide value to more people, make more money.

Because LeBron James is highly valuable to many, he makes many monies.

Be like LeBron.