Small businesses

Jaruwan is building a business on the side. When she comes from Uniqlo, she eats something (Korean noodles normally), and then she starts to make earrings. She plans to sell them for 59 THB each. When we talk via FaceTime, while she is cutting pieces and playing with different patterns, she talks about her life with a smile on her face.

Entrepreneurship is contagious. Her parents have a business as well. A couple of years ago, her dad tried to make me part of it. Unfortunately, he realised quickly that I'm not related to the construction stuff, so I had no idea how could I help him. For her dad, a computer is a useless machine.

Jaruwan's sister opened a small restaurant near her home (she is 20 years old). In Thailand, you can open a small business in the street, without too much bureaucracy. Moreover, you don't pay any taxes until you reach a threshold. That's a nice way to promote entrepreneurship. Asia is years ahead in this respect compared to Europe. Here, opening a business is a nightmare.

I have a big admiration for small business owners. For example, when I go to buy roasted chicken in my favorite shop in Barcelona, the man who runs the shop is someone I would want to become in the future. He has an affordable menu, prices without decimals, delicious food, and since not much, you could only pay with cash. The business was as simple as it could be. He works three days per week, and people queue for more than 20 mins to get that delicious chicken. He doesn't give a fuck about anyone. He doesn't try to be polite or friendly. His product is good, his prices are better, he knows it, and he makes a profit from that moat.

Rather than playing with bitcoin and playing with financial products, I wish young people were more prone to start their businesses while they are young. The problem is, quoting Nassim Taleb: "The three most harmful addictions are heroin, carbohydrates, and a monthly salary."