Episode 123 - Why Millionaires Fight Over Talented People, Not Money - Part 1
Poor people fight over money, while successful people fight over talent. Who really wins in the end?
In the game of success who wins in the long-term? The employer who hires 2.3 million grunts, like Walmart? A shocking number of whom receive SNAP or Wellfare, and lack adequate health coverage. Or the entrepreneur who hires a tiny A-Team of superstars, or one incredible worker? Who, consequently, receive amazing pay and great benefits. On today’s episode we’ll discuss a fundamental truth that all successful business owners understand, and poor people are trained to ignore:
Money isn’t the resource. People are.
On Part 1, Todd and Joe share stories from their own companies and businesses, and compare Walmart’s hiring practice of literally trying to make the entire world work in their stores, versus hiring empowering one amazing employee (like Winston Churchill giving Alan Turing the resources to crack the Enigma code). We also come clean about our own opinions on unions. And we ask whether unions are actually good for the economy, or if they just shelter tenured bums who are coasting toward retirement.
History Links:
https://www.harvardmagazine.com/2003/07/who-built-the-pyramids-html
https://www.maths.ed.ac.uk/~v1ranick/turingletter.pdf
Walmart Union Busting Video: https://www.youtube.com/watch?v=ONKkoiszVSs&ab_channel=MagnanaMouseCitizenMedia
Science Links:
https://www.foxbusiness.com/markets/walmart-mcdonalds-largest-employers-snap-medicaid-recipients
https://www.nytimes.com/2015/02/26/business/next-goal-for-walmart-workers-more-hours.html