Today I found this ad in my Facebook feed:
There are several current presidential hopeful front runners who routinely vilify billionaires, most notably Bernie Sanders and Elizabeth Warren. While I am generally aligned with most initiatives of the Democratic platform, I vehemently oppose this notion that “the billionaire class” is the root of our problems in America, and therefore we need to stick it to billionaires to “get even.” I really believe their type of economic extremism makes them unelectable.
This trend is not just American. Britain’s Shadow Chancellor John McDonnell during a protest stated that ““No one needs or deserves to have that much money, it is obscene,” during a protest of McDonald’s workers demanding higher wages.
In August of 2015 I wrote a post titled Musings about Vilifying Billionaires. This post is as valid today as it was when I first wrote it four years ago.
One of the best books about business I have read in a long time was Shoe Dog by Phil Knight, the founder of Nike. Here is my review from April 2018. Phil Knight is now number 16 on the Forbes 400 List with a net worth of $35.9 billion. Phil was a regular guy like you and I in the 1960s when he started selling shoes from the trunk of his car. The story of how he built Nike to what it is today is one of the most powerful stories ever told in business. If you have started and run your own business you will know how incredibly stressful and hard it is it make it work, succeed and survive.
Only somebody who has never had to make payroll, like a politician, will say something stupid like “nobody deserves to be a billionaire.” A statement like that exposes the speaker and is a testament to their ignorance and lack of understanding of basic economics.
Let’s go back to the meme above – Martha Kelly probably thinks it is the responsibility of the billionaires to feed the hungry, clothe the naked and cure the sick. And therefore, we should take the money away from the billionaires and let the government handle giving it to the poor. Yes – good luck with that! The same people that make asinine statements like “nobody deserves to be a billionaire” are the ones whom we’re going to entrust the money they are going to take away from the rich to properly distribute to the poor.
Bill Gates has given away more than $28 billion to charity, and he and his wife have managed how the money is being used. I trust Bill Gates 100 times more that the money is used in the right way and for the right causes than I’d ever trust Bernie Sanders or Elizabeth Warren with the same money. Bill made the money, he knows its value, he understands how money works, and he has an intuitive knack for solving problems. Sanders and Warren do not have any of those skills, and neither do most bureaucrats in government.
When the self-appointed redistributors say they are going to take “a little away” from the rich, who decides who is rich and who is not? Where is the threshold? What’s to stop them from saying that if you make more than $80k in your family you are rich and you have to give your surplus to the poor? Who draws the lines?
I say we need to leave the capitalist system alone.
The workers at McDonald’s can ask about more wages all they want. If they are not contributing more for those more wages, they don’t “deserve” those wages.
If they are envious of the amount of money the CEO makes, why don’t they become the CEO? Problem solved. Oh, it’s hard? Ahh, there lies the rub.
If they want to be rich, why don’t they start a company, like a shoe company (Nike), or a software company (Google, Microsoft), or a rocket company (SpaceX), or a car company (Tesla) or an online retail company (Amazon), or a replacement of all taxis company (Uber), and they can be a billionaires. Hey, any of the people who built the companies I have listed here started from scratch.
Bill Gates was a college student who liked math.
Phil Knight was a jock who liked running and couldn’t find good shoes.
Sergey Brin and Larry Page were math students at Stanford.
Elon Musk came to Canada as a twenty-year-old with no money in his pocket. He shoveled out sewer tanks as one of this first jobs in America, before he started a car company and a rocket company in parallel.
Jeff Bezos started an online bookstore from scratch in 1994.
Read the biographies of these men and then come and tell me they don’t “deserve” to be rich!
The American system works. The tax system should be fair and even for all. But vilifying rich people because they were successful after defying all odds and worked their butts off all their lives does not work and will not get Sanders and Warren elected.
Now I have to get back to work. After all, it’s Sunday night and there is a lot yet to get done.
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The Anatomy of an Impulse Purchase – Captainswagger
Posted in Bad Product, Commentaries, Economy, tagged Buying on Facebook, Captainswagger Fraud, Impulse Buying on February 16, 2020| Leave a Comment »
We have all been the victims of impulse purchases. Sometimes it was at the checkout stand in the grocery store where we bought a nifty flashlight on a keychain. Or it was at Costco at the entry doors, and we now have a full and shiny new set of BBQ tools complete in a plastic case, even though we already have a totally adequate set at home that we use perhaps once a year.
Along comes Facebook where impulse buying it raised to an entirely new and much higher level.
On November 15, 2019, I saw a “survival tool product” on Facebook. The link went to www.captainswagger.com. I thought it would be a neat Christmas gift for my outdoor enthusiastic son, so I ordered it. I spent $69.00. I received an immediate email that my product was shipped and expected to get the product in the mail within a few days.
Weeks went by and nothing arrived. I contacted the company and got no response. After about a month, I gave up. I contacted PayPal and put in a claim for fraud. Over the next four weeks, the company sent emails to me and PayPal claiming first that the product was shipped with FedEx, but didn’t provide a tracking number. When that failed, a couple of weeks later, it provided a FedEx tracking number. When I checked on the status using that number, I learned that was bogus number that was never shipped and probably used for all claims. On the day the PayPal grace period expired in the middle of January 2020, I received a box via the United States Postal Service (note – not FedEx) with the product. It took them two months to get it to me, and during that time they send several emails with fraudulent claims of shipment that were obviously bogus.
Here are some reviews which echo my experience with Captainswagger.com. I am not the only customer who went through this. Captainswagger is definitely a fraud. I am not sure if I would have ever received the product had I not put in a formal claim with PayPal.
So now I have this “product” that I paid $69 for that never became a Christmas present.
Captainswagger Multifunctional Shovel – banana for scale
It came in a partially crushed box, and it’s not even close to the product being shown in the video above. Many of the pieces are not there, the versatility is not the same, the size seems different, and the carrying case is not included. Instead, it has these thin plastic camouflaged covers. To top it off, the version I bought was the upgraded one for $69.00, not the one for $39.95 on the website.
The real product is much smaller and way chintzier than it looks in the video, and I have absolutely no use for it. In 50 years of hiking and driving I have never come into a situation where I needed this tool, and I certainly won’t be putting it into my backpack when I go on hikes. I suspect my son would not have done so either. So why did I buy something from a company I knew nothing about, which turned out to be borderline fraudulent? Why did I buy “stuff” that is now in my house that I will never use?
It was easy, and it seemed like a neat thing I wanted. It reminds me of the exercise program I bought many years ago for $300 with a pull bar and a bunch of video disks. I had the good sense to send it back unopened when it arrived and I got my money back. That was before PayPal and Facebook.
With this “tool” I stand no chance. It was pulling teeth to get it in the first place. There is no way to get my money back without spending a lot more time and money without a guarantee of success.
Lessons learned:
And with that advice I swagger away.
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