A Credit Score Determined By Your Facebook Friends And Social Network

September 29th, 2014 by

While this was only one of those prediction articles, it was kind of interesting as I could easily see it happening. It was an article on the daily mail located at http://www.dailymail.co.uk/sciencetech/article-2773349/Could-credit-score-soon-based-FACEBOOK-FRIENDS-Expert-predicts-future-banking-rely-social-networks.html that was essentially trying to predict that your social media information such as the people you associate with can be used by companies to create a credit profile on you. I guess as an example, if you hang around people who are constantly in financial trouble that is a red flag.

Can you imagine if that actually happens? I can already foresee entrepreneurs and businesses creating a service where for like X amount of dollars a month you can get people with high credit scores to be your digital friend…..I better start thinking of my rate…… But in all seriousness, I wouldn’t be surprise if something like this is implemented.

There is some truth to the whole you are probably similar to the people you hang around with if you think about it. Even when it comes to money or success people often say for example if you keep hanging around a person that is negative or broke all the time it can rub off on you. Vice versa if it was someone that was good with money. At the same time, I think determining a credit score based on like one’s Facebook friends would be a little silly.

I know a lot of people nowadays use social media sites as like a business card. It’s a quick way to keep in touch and it doesn’t necessarily mean you mingle with them like a close friend. Would it make sense to base a credit score on who’s business card you have in your wallet as an example? I think not.

If You Were To Not Use Any Soap or Shampoo Anymore

September 28th, 2014 by

This was sort of a crazy thought as I bumped into this fairly old article at http://freetheanimal.com/2009/12/paleo-i-dont-care-i-like-no-soap-no-shampoo.html . Essentially, it talked about a person who went through a long time without using any kind of soap product. He swears that he ended up feeling better and wouldn’t ever go back. I’m no scientist, but the factor from what I gather is supposed to be that the body naturally has “good” bacteria that gets washed away by the soaps we use.

I was then thinking, since everyone is inclined to want to save as much money as they can do you think you could live a life without using any kind of soap products to do so if you knew for sure it would be just as good? This is one of those things that would be very hard to even attempt I think considering it’s like a lifestyle habit. It must be excruciating for someone who works in a public environment to get like say a few weeks for their body to adjust to it too assuming it works.

I guess you have to really spend a lot of money on hygiene products for this to entice people from a money perspective. The things I learn each day….

Generosity Is For Suckers And Greed Is Good

September 27th, 2014 by

I was watching this video today that seemed like another version of a Ted talk video topic I saw before about wealth and what it does to people. In this one a person used the phrase on how “Generosity is for suckers” and that “greed is good” when it comes to being financially successful. You can watch the video here.

A point was brought up too about how there are billionaires in the world who are extremely generous which makes that phrase not true. I was really thinking about this and while it is true in many ways, I think it’s more like being generous to everyone is for suckers. Even speaking from personal experience, for most people you would think that the cause of losing a lot of money would be living beyond your means, buying useless items you don’t need or say gambling it away in a casino. Even in my case, the number one way I have lost the most money in my life was being too generous.

This ranged from say loaning a long-time friend five figures only to never see a penny back to helping start-up entrepreneurs who claimed that once you help them they will in-return do good for others. In cases like these they never turned out good. Like in these cases, if I was simply greedy as oppose to being generous I definitely would have had a lot more money. Would I say that being generous in general is the culprit? In some ways yes but in many ways no.

It’s almost bad to say, but when it comes to money the only common theme I have seen is if you are generous based purely on the emotional factor then you are asking for trouble. Even if it is the person that claims to be your best friend, you need to be generous but still treat the whole scenario as if you are investing with a stranger.

It can be the same for a charity. If you are simply giving away all your time and money because the charity claims they are there to help the kids don’t be surprised if it turns out to be like scam. Like in that case you really need to research about the organization as well. Some of the best moments for me in life has been when my generous deeds made such a profound positive impact in someone else’s life. However, for everyone one person that is deserving there are probably like nine others who just want to take from you. I guess a funny way to put it is that you need to be greedy on who you can be generous to.

All Those iPhone 6 Reselling Stories

September 26th, 2014 by

I assume most people have been hearing constant stories on how a lot of people who have purchased the iPhone 6 are simply doing so in hopes to resell it. I’ve read figures such as how people are able to resell them for $2000+ US. This of course sparks the usual debate on whether or not it is ethical to do that or at the same time if it is even worth it financially.

While I personally wouldn’t be a fan of this, it makes me wonder how reselling it is any different from other forms of commercial attempts to essentially make money off of a hyped of product like this. For example, some people buy the phone just to publicly destroy it where they then make money off the attention that they get. Is there really any difference between that and reselling it as an example? It all equates to taking advantage of an opportunity to profit from it I think.

When you look at the crazy extent some people are willing to go through to get the product it’s almost crazy not to capitalize on it. The wackiest news I read was some guy who was actually carrying a sign that he would rent out his girlfriend to raise money to buy an iPhone 6. You can read it here: http://news.asiaone.com/news/asia/chinese-student-rents-out-girlfriend-buy-iphone

If anything, I think it’s a little crazier that people are willing to pay that much for an item that will be outdated in no time.

Ello Showed Me How Business Savvy Regular People Can Be

September 25th, 2014 by

I’m not sure about everyone else, but I have recently been getting a lot of notices and news about a social media site called Ello that is apparently supposed to directly challenge a site like Facebook. It seems like its main draw is how it mentions that essentially many social media sites exists to sell your data information to advertisers. Instead, Ello aims to be an ad-free social network.

The first that thing came to a lot of people’s mind was the question on how the company plans to fund itself as most company’s say they are anti-commercial but when the offers come that all disappears. I was surprised after on how fast regular users were able to find information such as which venture capitalist firm the company received funds from as you can see from this link: https://ello.co/waxpancake/post/oy73kFfDdhOPh8Jv9z9pFA

You would think the large publications would get this first. Many people really do their research on where their food comes from nowadays. In this case, more people now actually try and investigate the business of companies such as where its funding comes from. Of course this doesn’t say if the company is good or bad of course, but it gives you a wealth of information to analyze constructively for yourself on how long one’s publicly proposed goal can last.

Kind of how I expressed before that reading about business news and details isn’t just for people involved in the industry commercially as you can sure get a wealth of information about products and services this way instead of relying only on marketing material to do so. Interested to see how this Ello goes now as a result.