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Author Topic:   Business ideas, is it right that the originator of successful ideas don't benefit?
coffee_addict
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Posts: 3642
From: Indianapolis, IN
Joined: 03-29-2004


(1)
Message 1 of 23 (890140)
12-27-2021 4:02 PM


Mark Zuckerberg got the idea of facebook from his roommate. Bill Gates got DOS from a college student. Fracking, or using hydraulic pressure to extract fossil fuel was thought of by some guy who did not get a penny for the idea while it is now a trillion dollar industry. History tells us there are countless ideas that were thought of by people and implemented by others while the originators never got a cent from them.

The thing is this. These very good ideas were given to the world freely by the originators. The originators of these ideas just did not have the will to implement them and so they gave these ideas out as a form of cloud talk.

Recently, I have achieved financial independence from passive income and have had a lot more time to myself. I started pondering about this topic. Why? While I would like to think I was the one that came up with my business idea that has given me financial independence, I actually got the idea from someone else.

Back when I was still working a full time job as an engineer, I was already looking for an exit strategy from having to work a full time job for the rest of my life just to get a gold watch when I retire. Real estate seemed like the logical thing to do. The problem I ran into was everything cost too much. I would have to take out a mortgage for each property. Banks only allow you to take out a mortgage for an investment property once every other year or so. So, going via this route would have taken at least 20 years to gain enough investment properties to get to a point where the passive income could replace a full time job.

One day, I was at a party. Some guy was talking about a gap in the real estate market that he found. He was giving out a detailed plan he came up with to exploit this gap in the market. He was really cloud talking more than anything else to impress the group of people he was with. How do I know? This was about 4-5 years ago and he is still working his full time job and never did anything with real estate. Anyway, I listened in and people were like "really? wow..." It was just cloud talking. I asked some questions and whatnot.

Afterward, I started looking things up and sure enough he was right. Seemed to be an unexploited part of the investment market. It's literally a gap in the real estate market. Using the plan he was outlining, I worked out the math and the ROI was through the roof, far greater than any traditional investment will ever give you back.

See, up until this point I had been doing a lot of research into real estate investing. And as far as I can tell, the method he came up with wasn't generally known or taught. But it's brilliant!

About 2.5 years ago I actually quit my career and started doing this full time head on. Because this is a gap in the market, rapid expansion was amazingly quick. The passive income from it far exceeds anything I ever made with all the jobs I ever had. Actually, after 2 years it's already twice as much as the highest salary I ever made in my engineering career.

I recently befriended another business owner. He used to be a PNC bank VP and quit that to start his own thing. While we shared stories, he told me that he too got his business idea from a guy at work that was just telling people an idea he had. That guy never followed through with his idea, though. But my friend started a business based on that idea and now he barely ever works at all.

Legally speaking, if you thought of an idea and just freely telling people about it, anyone who actually has the will to go through with it can take your idea and benefit from it. But morally speaking, is it right that one can benefit greatly from an idea that came from someone else, even if the idea was given out freely?


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Admin
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Message 2 of 23 (890150)
12-27-2021 8:12 PM


Thread Moved from Proposed New Topics Forum
Thread moved here from the Proposed New Topics forum.

  
AZPaul3
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Posts: 6215
From: Phoenix
Joined: 11-06-2006
Member Rating: 6.2


Message 3 of 23 (890153)
12-27-2021 9:38 PM
Reply to: Message 1 by coffee_addict
12-27-2021 4:02 PM


Hey coffee_addict.

You've been gone awhile. Welcome back.

But morally speaking, is it right that one can benefit greatly from an idea that came from someone else, even if the idea was given out freely?

Yes.

If someone speaks a great idea then abandons it that idea is just hanging out in the ethersphere of ideas open to being picked like a ripe apple off the tree. Society benefits when a great idea is implemented rather than abandoned. I can also imagine the initial idea was not nearly as detailed and planned thru as the eventual entrepreneur developed.

A major problem in this scheme is the unintentional monopoly that is often created. The moral issue, for me, is our inability (unwillingness) to control the size and influence of the resulting mega-corporations which have become detrimental to society.


Eschew obfuscation. Habituate elucidation.

This message is a reply to:
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LamarkNewAge
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Posts: 2092
Joined: 12-22-2015


Message 4 of 23 (890156)
12-27-2021 11:00 PM
Reply to: Message 1 by coffee_addict
12-27-2021 4:02 PM


Allow everyone to have access to it.
Dont regulate the crap out of the development process.

Allow every potential twist and turn.

China is under attack for the engineering of technology, and it is bad for us all. (The attack is bad. China is right.)

But China censors as lot of website information.

Here in the United States, we have a political party, called Democrats, that want to destroy information in the name of "protecting democracy" (as if!).

Humanists should shudder!

Edited by LamarkNewAge, : No reason given.


This message is a reply to:
 Message 1 by coffee_addict, posted 12-27-2021 4:02 PM coffee_addict has responded

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coffee_addict
Member
Posts: 3642
From: Indianapolis, IN
Joined: 03-29-2004


Message 5 of 23 (890159)
12-27-2021 11:54 PM
Reply to: Message 4 by LamarkNewAge
12-27-2021 11:00 PM


Re: Allow everyone to have access to it.
What? Can someone please translate this into proper english?

This message is a reply to:
 Message 4 by LamarkNewAge, posted 12-27-2021 11:00 PM LamarkNewAge has responded

Replies to this message:
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LamarkNewAge
Member
Posts: 2092
Joined: 12-22-2015


Message 6 of 23 (890160)
12-28-2021 12:01 AM
Reply to: Message 5 by coffee_addict
12-27-2021 11:54 PM


Re: Allow everyone to have access to it.
Are you talking about patents or copyright protections?

I only care about freedom of information, innovation, and development.

Tear down barriers for everybody and don't let anyone use laws to prevent others from learning & using.

"PUBLIC DOMAIN"

PUBLIC DOMAIN

PUBLIC DOMAIN!

(You understand that somebody "getting rich" can simply mean consumers are voting with wallets for "development" of certain ideas, right?)

(As long as there are no barriers to the whole planet developing along multiple levels of twists & turns, then what is the problem?)

Edited by LamarkNewAge, : No reason given.


This message is a reply to:
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Replies to this message:
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AZPaul3
Member
Posts: 6215
From: Phoenix
Joined: 11-06-2006
Member Rating: 6.2


(2)
Message 7 of 23 (890161)
12-28-2021 12:25 AM
Reply to: Message 5 by coffee_addict
12-27-2021 11:54 PM


Re: Allow everyone to have access to it.
I'm afraid my LNA-English translator is throwing fits and has crumbled into stark inanity. I think it's a GIGO problem but I can't be sure.

You're on your own, Sorry.


Eschew obfuscation. Habituate elucidation.

This message is a reply to:
 Message 5 by coffee_addict, posted 12-27-2021 11:54 PM coffee_addict has not yet responded

Replies to this message:
 Message 9 by LamarkNewAge, posted 12-28-2021 8:52 AM AZPaul3 has responded

  
AZPaul3
Member
Posts: 6215
From: Phoenix
Joined: 11-06-2006
Member Rating: 6.2


Message 8 of 23 (890162)
12-28-2021 12:29 AM
Reply to: Message 6 by LamarkNewAge
12-28-2021 12:01 AM


Test
Do you contribute to Wikipedia?

Eschew obfuscation. Habituate elucidation.

This message is a reply to:
 Message 6 by LamarkNewAge, posted 12-28-2021 12:01 AM LamarkNewAge has not yet responded

  
LamarkNewAge
Member
Posts: 2092
Joined: 12-22-2015


Message 9 of 23 (890166)
12-28-2021 8:52 AM
Reply to: Message 7 by AZPaul3
12-28-2021 12:25 AM


Re: Allow everyone to have access to it.
So, do you have a law in mind, to remove or add, in the legal code?

You have a problem with something, right?

I am not sure you spelled out the exact problem.

I have a problem with far too-strict copyright laws. I wonder if you feel that the laws are fine, but they are not used by enough people - who "invent something" - so as to prevent others from further development & refinement which at times leads to (sigh) money being made.


This message is a reply to:
 Message 7 by AZPaul3, posted 12-28-2021 12:25 AM AZPaul3 has responded

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AZPaul3
Member
Posts: 6215
From: Phoenix
Joined: 11-06-2006
Member Rating: 6.2


Message 10 of 23 (890167)
12-28-2021 9:19 AM
Reply to: Message 9 by LamarkNewAge
12-28-2021 8:52 AM


PUBLIC DOMAIN
PUBLIC DOMAIN!

PUBLIC DOMAIN!

So, I'll take a "no" for contributions to Wiki. How about YouTube content? Are you patron to any?


Eschew obfuscation. Habituate elucidation.

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Tanypteryx
Member
Posts: 2773
From: Oregon, USA
Joined: 08-27-2006
Member Rating: 5.8


Message 11 of 23 (890168)
12-28-2021 9:19 AM
Reply to: Message 6 by LamarkNewAge
12-28-2021 12:01 AM


Re: Allow everyone to have access to it.
Tear down barriers for everybody and don't let anyone use laws to prevent others from learning & using.

"PUBLIC DOMAIN"

So you think you should be able to steal my creations and pass them off as your own?

Edited by Tanypteryx, : No reason given.


What if Eleanor Roosevelt had wings? -- Monty Python

One important characteristic of a theory is that is has survived repeated attempts to falsify it. Contrary to your understanding, all available evidence confirms it. --Subbie

If evolution is shown to be false, it will be at the hands of things that are true, not made up. --percy

The reason that we have the scientific method is because common sense isn't reliable. -- Taq


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Replies to this message:
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jar
Member
Posts: 33657
From: Texas!!
Joined: 04-20-2004
Member Rating: 5.2


(1)
Message 12 of 23 (890169)
12-28-2021 9:32 AM
Reply to: Message 11 by Tanypteryx
12-28-2021 9:19 AM


It depends...
I think any idea that is developed and implemented using TAX funding (State, Local or Federal) should be available to the general public for free or at a true cost to produce and distribute price point.

I think any idea that will create a health care, safety or education solution should also be placed in the regulated pricing category where an agreed return on investment percentage is added to the true cost to produce and distribute price point.

I think all general utilities including health care, education, communication, public transportation (including highway or sidewalk construction and maintenance) should also be regulated monopolies.

AbE:

Not really sure about how shelter should be handled.

Edited by jar, : see AbE:


My Website: My Website

This message is a reply to:
 Message 11 by Tanypteryx, posted 12-28-2021 9:19 AM Tanypteryx has responded

Replies to this message:
 Message 13 by Tanypteryx, posted 12-28-2021 9:45 AM jar has responded

  
Tanypteryx
Member
Posts: 2773
From: Oregon, USA
Joined: 08-27-2006
Member Rating: 5.8


(1)
Message 13 of 23 (890170)
12-28-2021 9:45 AM
Reply to: Message 12 by jar
12-28-2021 9:32 AM


Re: It depends...
Copy rights also cover art, writings, music, etc. So FUCK HIM if he thinks he can steal credit for my creations!

What if Eleanor Roosevelt had wings? -- Monty Python

One important characteristic of a theory is that is has survived repeated attempts to falsify it. Contrary to your understanding, all available evidence confirms it. --Subbie

If evolution is shown to be false, it will be at the hands of things that are true, not made up. --percy

The reason that we have the scientific method is because common sense isn't reliable. -- Taq


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 Message 12 by jar, posted 12-28-2021 9:32 AM jar has responded

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Percy
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Posts: 20507
From: New Hampshire
Joined: 12-23-2000
Member Rating: 8.4


Message 14 of 23 (890171)
12-28-2021 9:49 AM
Reply to: Message 1 by coffee_addict
12-27-2021 4:02 PM


There's an unexploited niche in real estate?

--Percy


This message is a reply to:
 Message 1 by coffee_addict, posted 12-27-2021 4:02 PM coffee_addict has responded

Replies to this message:
 Message 19 by coffee_addict, posted 12-28-2021 8:55 PM Percy has acknowledged this reply

  
jar
Member
Posts: 33657
From: Texas!!
Joined: 04-20-2004
Member Rating: 5.2


(1)
Message 15 of 23 (890172)
12-28-2021 10:14 AM
Reply to: Message 13 by Tanypteryx
12-28-2021 9:45 AM


Re: It depends...
I agree, as I said for me the answer is "It depends".

My Website: My Website

This message is a reply to:
 Message 13 by Tanypteryx, posted 12-28-2021 9:45 AM Tanypteryx has not yet responded

  
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