Valuetainment - May 11, 2020


Episode 465： Stop Bailing Out Big Companies


Episode Stats


Length

4 minutes

Words per minute

179.68962

Word count

880

Sentence count

60


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Should the government bail out the too big to fail companies like what happened in 2008? Is it time to let some of these companies fail? Or should they be bailed out by the next generation of entrepreneurs who have a better product?

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 You know, one of the biggest debates that's going on right now during these pandemic times
00:00:25.360 is should we let these big companies go out of business or should we bail them out?
00:00:29.040 Should the government come out and cut a 10 billion dollar check, 20 billion dollar check
00:00:33.380 and help these companies not go out of business?
00:00:35.980 They're too big to fail companies similar to what happened in 2008.
00:00:39.600 And some are saying no, some are saying yes, we should bail them out.
00:00:43.280 And some who are saying no are saying, well, wait a minute, this is not capitalism.
00:00:48.220 This is a form of socialism to the big companies because you're not letting the smaller guys
00:00:53.460 who have state discipline, maybe they've stayed liquid, maybe they're trying to compete,
00:00:57.340 maybe they're better for the customers, maybe they're trying to offer a better proposition
00:01:01.120 for their products.
00:01:01.920 You're not allowing them to compete with the bigger guys.
00:01:05.320 Let this cycle take its place.
00:01:07.840 Let it take its course.
00:01:09.360 If somebody else has more money that they've said, they should buy them out.
00:01:12.760 And these guys ought to go out of business and their customers will go elsewhere.
00:01:16.120 We should let that take place.
00:01:17.560 Who's right?
00:01:18.140 You know, when you see, I lived in L.A. for a long time, 24 years, you would always see
00:01:24.440 forest fires and it was always a concern.
00:01:27.180 And there's two different kinds of forest fires.
00:01:29.200 There's a kind of forest fire that kids do.
00:01:32.000 They go out in the forest, they're playing around and they, you know, messing around with
00:01:36.200 a match or cigarette or they're doing something fire.
00:01:38.740 That's man-made fire.
00:01:40.160 But there's a natural forest fire.
00:01:42.400 And if you talk to people who study nature, they will tell you natural forest fire is
00:01:48.800 needed.
00:01:49.660 Now, why is natural forest fire needed?
00:01:52.060 Why would anybody want to have a natural forest fire?
00:01:55.040 Here's why.
00:01:56.140 Because if you ever go in a forest that's filled with these massive trees and you're walking,
00:02:01.780 you don't get a lot of sunlight.
00:02:03.680 It's dark.
00:02:05.100 The trees are covering everything.
00:02:07.620 Sun is a form of nutrient.
00:02:09.560 Not everything else out here is getting the sun.
00:02:11.600 The trees all the way at the top are getting the sun, not the ones below.
00:02:15.600 What do you mean by this, Pat?
00:02:17.120 Well, sometimes you need to have forest fire.
00:02:19.140 Why?
00:02:19.780 If you look at before and after pictures of natural forest fires, you will notice how immediately
00:02:25.040 within days, boom, beautiful green all the way in the bottom, everywhere.
00:02:31.700 What is going on over here?
00:02:33.520 Those are the small business owners who are finally getting the sun.
00:02:37.140 While the entire time, these two big to fail companies have been getting all the sun, now
00:02:43.840 it allows the next tree to come out.
00:02:46.000 All those deep roots that are sucking all the nutrients, all of them to themselves, these
00:02:51.580 other small trees couldn't compete.
00:02:53.580 Now the small trees can compete with the bigger trees.
00:02:55.820 This is a cyclical cycle.
00:02:57.620 This happens regularly.
00:02:58.700 This is why you constantly hear about stats of 60% of Fortune 500 companies from 1970 are
00:03:04.100 not around anymore.
00:03:05.060 This happens over and over and over again because somebody may have a better proposition
00:03:11.880 today.
00:03:12.420 So where am I going with this?
00:03:13.460 Stats.
00:03:16.060 Small business owners in America.
00:03:17.580 Small business owners are somebody that employs less than 500 people in their company.
00:03:21.660 Small business owners in America employ 59 million people in America.
00:03:25.840 Nearly 47% of all jobs in America are provided by small business owners.
00:03:32.260 And some tells me times like this, maybe we are going through the process where some of these
00:03:37.580 businesses need to go out of business and make some room for the new entrepreneur, the small
00:03:43.300 business owners to come up and get access to that sun because maybe they have a better
00:03:48.440 proposition to the customer that's better than the bigger guys who for years been getting
00:03:53.600 bailed out by governments that give them money saying, hey, don't worry about it.
00:03:56.780 I know you're a lobbyist behind closed doors.
00:03:58.600 You're helping them out with my election.
00:04:00.380 Let's make sure we bail these guys out.
00:04:02.160 Let's make sure we bail these guys out.
00:04:04.120 Maybe it's time we let these guys go out of business.
00:04:06.740 So the next generation of entrepreneurs, the next generation of small business owners
00:04:11.640 starts getting an opportunity to have a better product, better service, better propositions
00:04:17.440 for the customers.
00:04:18.980 So the next time you hear about this whole thing of too big to fail, let's bail them out.
00:04:25.000 Maybe it's okay for some of these guys to go out of business.
00:04:28.380 What do you think about it?
00:04:29.560 Thanks everybody for listening.
00:04:30.780 And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.
00:04:35.140 Give us a five star, write a review if you haven't already.
00:04:38.320 And if you have any questions for me that you may have, you can always find me on Snapchat,
00:04:42.300 Instagram, Facebook, or YouTube.
00:04:44.260 Just search my name, Patrick Bid David.
00:04:46.200 And I actually do respond back when you snap me or send me a message on Instagram.
00:04:51.020 With that being said, have a great day today.
00:04:52.820 Take care everybody.
00:04:53.580 Bye-bye.
00:04:53.820 Bye-bye.