Thomas Edison: Middleman Dollars & Cents

Posted by admin on Thursday, October 11, 2018

Thomas Edison Money Quote saying he brought the crazy ideas of inventors to profit by turning them into marketable products or commodities. Thomas Edison said:
 

 

“I am a sort of middleman between the long-haired and impractical inventor and the hard-headed businessman who measures all things in terms of dollars and cents. My principal business is giving commercial value to the brilliant but misdirected ideas of others” — Thomas Edison

 

 

Thomas Edison is cautioning inventors that developing and commercializing inventions is an expensive process that requires serious consideration of whether an invention can actually be sold profitably on the market. He notes that unless one has significant funds to spend without regard for financial losses, pursuing inventions purely as a hobby or amusement will likely end up being an extremely costly endeavor.

Edison’s point seems to be that inventors need to think practically about commercial viability and demand for their ideas, not just the inventing process itself, or they risk wasting a great deal of money trying to bring inventions to market that have little chance of earning back development costs. His advice is to properly assess saleability and avoid treating invention as an indulgent pastime without regard for financial sustainability.

Birthday: February 11, 1847 – Death: October 18, 1931

Warren Buffett: Businessmen Best Investors

Posted by admin on Wednesday, April 27, 2016

Warren Buffett Money Quote saying that paying attention to business improves results of investors and protects the business from losses. Warren Buffett said:
 

 

“I am a better investor because I am a businessman, and a better businessman because I am no investor” — Warren Buffett

 

 

Warren Buffett says he is a better investor because he is a businessman, and a better businessman because he is also an investor. By being actively involved in running businesses, Buffett gains insights into how companies operate and what drives success. This hands-on experience helps him identify strong companies to invest in and avoid those with underlying problems.

His experience as an investor also helps him make better business decisions by thinking about a company’s long-term value and competitive advantages. In short, Buffett believes his dual experience in business and investing makes him more knowledgeable and helps him achieve better results.