We Treat Investors Like Entrepreneurs

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@stevenchoi86 4 ай бұрын

I'm an American who lived in Vietnam the past 5 years. In Vietnam, what was once a failed centralized Communist economy only 30 years ago is now a thriving, dynamic, and growing market economy. And the exciting part is that so much of the growth comes from mom and pop entrepreneurs who are responding to the needs of their local market at the neighborhood level. I have come to the conclusion that land use policy is a key to unlocking human initiative and entrepreneurship. In Vietnam, residential zoning is mixed use by default. So anyone can open up a small business in their home. Which means overhead is low, because you aren't paying double rent and utilities for an office or retail space on top of your mortgage/rent, and therefore the risk of opening a business is low, and even non-rich people can do it. In America, our single use zoning means that you have to pay rent somewhere to open a business, which means only those who already have extra money can afford to open a business in most cases. Vietnamese lot sizes are much more narrow than in the US, and medium density is the norm. Which makes neighborhoods more compact, and more like a village than a suburban bedroom community. And because homeowners open businesses in their homes, a hyper local economy develops on nearly every street and every block. You end up seeing the same people everyday at the local corner store, or at the coffee shop down the street, or at the lady's house who sells vegetables. All of this results in a real sense of community and in a spirit of entrepreneurship, because entrepreneurship isn't just something you see on aTV show like Shark Tank, but it feels accessible and realistic because you see it happening in big and small ways all around you, all the time. I know the Strong Towns vision works, because I've seen it thriving in a Communist country like Vietnam, of all places! Honestly, in some ways Vietnam feels more free than America and Canada because it doesn't have so many restrictive zoning and land use policies!

@eugenetswong 4 ай бұрын

I thought that Vietnam is no longer communist. You insist that it is?

@anthonytelles2226 4 ай бұрын

This is fantastic

@jonwatte4293 4 ай бұрын

Yes, mixed use zoning would be amazing! Japan, Europe, and most other places build thriving walkable towns with mixed use.

@cloudyskies5497 4 ай бұрын

America still has small-scale entrepreneurs. A lot of us just work out of our homes, outside our jobs, and either sell what we make online or in the informal economy because we can't afford store fronts. Hopefully one day that will change but the spirit to build something is still alive.

@MalachiMarvin 4 ай бұрын

At the end of my street, which intersects a state highway, they're going to build a Dutch Bros Coffee. When talking with the developer, I mentioned that this is just another business that serves the highway and not the neighborhood. He said the highway is considered a 'corridor' and is appropriate. It's a corridor because that's what they've built. It doesn't have to be though. Sigh.

@longkesh1971 4 ай бұрын

Nice explanation. I've been thinking of starting a business lately and found out about how you can get a hefty fine for not registering your LLC with the federal government under some new money laundering law. It feels like the federal government doesn't want more entrepreneurs.

@nathang4682 4 ай бұрын

Great video. The idea of money being extracted vs wealth being grown is very powerful

@mrkritik4005 4 ай бұрын

This is a fantastic distinction that is often conflated. It would be great if we could apply this distinction in someway to the tax code and capital gains when considering the returns.

@bobpetrulis6596 4 ай бұрын

Yes! The whole notion of capital gains is a big part of the reason that the game is tilted in favor of wealth extractors rather than wealth creators! It's just the opposite of what it should be: As a proprietorship or even an S Corp, the entrepreneur will pay income tax at the personal income level, even on money that is reinvested in the business. An investor, on the other hand, pays tax at the capital gains level, which is often much lower!

@eugenetswong 4 ай бұрын

@@bobpetrulis6596 I agree about investment taxes. Even laws that give corporations personhood, and that protect the investor and not the customer, should be abolished.

@melevan15 4 ай бұрын

I've thought your dunkin' Donuts article is one of the best articles ever published by Strong Towns. I'm glad to see you revisit it. I'm sorry it has to hit so close to home for you.

@sillyhead5 4 ай бұрын

This is so insightful. Can't believe such thought-provoking gems are being so casually dispensed on a channel with

@commandersprocket 4 ай бұрын

My observation is that almost universally thought-provoking gems exist on very small channels. Most people are looking for simple entertainment.

@songsfromtheheartky 4 ай бұрын

Good food for thought! I never thought about this topic in this way. Thanks for sharing. 🙂

@nunyabidness3075 4 ай бұрын

I have to sort of disagree with one thing. Your town didn’t fix the regulations preventing a start up. There’s a lot of regulations that are no big deal, but there’s so many of them, they become a big deal. And, we’ve tilted the playing so far in the favor of huge financial companies that most any start up that’s not based on protected intellectual property is vulnerable to some investment firm giving their competition enough capital to bury them. If that doesn’t kill them, they get unionized. People do have to be crazy to be entrepreneurs.

@mikko.g 4 ай бұрын

Private land individual enrichment dictates that investors are a required part of the equation regardless of whether the community would benefit. Online space cleared the way for a little while but that is rapidly homogenizing... and it is pretty hard to make an online only space that specifically benefits a community... unless its a casino where the profits get distributed to the community.

@jonwatte4293 4 ай бұрын

You can easily turn net worth (like a house) into liquid net worth by taking out a loan against the equity. I think whether you are an investor or an entrepreneur is more a question of whether you put in the sweat equity, with or without the capital ante.

@falsificationism 4 ай бұрын

Crazy that Brainerd got a Dunkin' before Alexandria!

@David-TX59 4 ай бұрын

As a failed entrepreneur, I agree they should build a statue to me. 😊

@Cleaner-World 4 ай бұрын

Interesting take. But your definition of "entrepreneur" is a bit off. Nonetheless, i appreciate your delineation between investor and an entrepreneur.