January 10th, 2010 - Open Knowledge — LiveJournal
Jan. 10th, 2010
11:15 am - The Ten Cannots
* You cannot strengthen the weak by weakening the strong.
* You cannot help little men by tearing down big men.
* You cannot lift the wage earner by pulling down the wage payer.
* You cannot help the poor by destroying the rich.
* You cannot establish sound security on borrowed money.
* You cannot further the brotherhood of man by inciting class hatred.
* You cannot keep out of trouble by spending more than you earn.
* You cannot build character and courage by destroying men’s initiative and independence.
* And you cannot help men permanently by doing for them what they can and should do for themselves.
--William H. Boetcker, 1916
Free trade isn’t a battle that countries (or states) win or lose. It is a human right - the liberty to engage in voluntary transactions that leave both participants better off. If John wants to sell something that Mary wants to buy, it should make no difference to the lawfulness of their exchange whether they are residents of different neighborhoods, different states, or different nations.
In a time when the government says they want to make healthcare cheaper it seems someone forget to tell the FDA. The government agency is on a mission to get all non approved FDA drugs off the market. Many of these drugs have been around a long time, are cheap and are helping patients that need them. But the FDA is encouraging Big Pharma to apply for FDA approval of a “branded” version of drugs that are already on the market. Once this approval is given the new FDA approved version cost more and the old version is now illegal to sell and the pharmaceutical companies sue to keep it of the market. A case in point is Philadelphia-based URL Pharma, one of many drug makers that used to sell a non approved drug called colchicine. But recently URL Pharma won FDA approval for a branded version of the drug called Colcrys, which sells for about $4.50 a tablet - nearly 50 times the price of the unapproved version and the company is now suing other drug makers to remove the very same unbranded version that they used to sell! Several months ago, Doris Webb was diagnosed with a rare disease called Familial Mediterranean Fever, a hereditary condition tied to her French ancestry that causes fevers, arthritis attacks and inflammation of the lining of the lungs and abdomen. Debilitating pain in her joints and bones was relieved by a prescription drug called colchicine.
No opportunity comes with surety. Even an MBA from a top B-School might not get the best returns. There are lots of bright ideas which never reap fruits. What is important is that you should be able to separate failure of your idea from your personal failure. Its very clear, if you choose to become an entrepreneur for the right reasons, have the right approach and are determined to give it your best shot for 2-3 years and create value in your venture, chances of failure are near zero. You will learn so much and get to know so many people that even in case of the worst outcome, you will come out way ahead and will be a much wanted resource.h
|← Previous day||(Calendar)||Next day →|