370. Learn to Earn

A Beginner’s Guide to the Basics of Investing and Business

By: Peter Lynch and John Rothchild

Retold in notes by Harini Senthilkumar

How to form a corporation:

Pay a small fee
File papers in the state in which you want to maintain a legal address

Most Popular Choices:

Delaware
Laws are more favorable to business

Massachusetts
High ranking in the access to capital, startup activity, quality of life, and labor market

Wyoming
Especially well for taxes, cost of living, and the cost of starting a business

Iowa
Office space is the most affordable, with small business owners paying only $17 per square foot yearly for commercial office range

PRO TIP:

Whenever “inc.” is attached to the end of the name of a business, it means that the company already filed the papers to become a corporation. 

(“Inc.” is short for incorporated)

Law Terms:

A corporation is an individual that can be punished for bad behavior. (Usually the imposition of a fine)

That’s the main reason why owners of business go to the trouble of getting incorporated

If they get in trouble and get sued, the corporation takes the blame and they get off the hook.

EXAMPLE:

You borrowed your parents' car — without permission— and crashed it into a tree Luckily, you’re incorporated.

369. Rich or Poor

What is the human desire

For it wants what it can not have?

A rich king wants nothing but, but the life of a poor man

Why you wonder

Why you cry

The rich king is bottled up all inside

While the poor experiences all life

Also is the trouble of money, how much of it you crave

The poor man has to worry not, for he has not a lot

Always wondering, always predicting is the poor and

While the rich man can hire 1,000’s to recite his future perfectly

He loses the element of hope and faith

Soon all money will cease to exist

No matter how powerful one can be they will always fall down

The poor man will laugh and shake at the once rich cowering in fear

For the poor has dealt with misfortune like any other day

The rich with his velvet capes and darling roses 

Will try to come back on top, get the people’s hope

But how can a man be rich, if he need not understand his people?

The poor will later become rich, having seen everyone’s life

He will be a fair king and will rejoice to everyone's delight

The rich king, the poor lad

Now lay outside, watching, listening to the way of the people’s life

368. Cherry Blossom Tree

The bees can’t go a day without passing by

This beauty of a flower

Smells so sweet, it must be

For the hummingbirds take a sniff

Attracts humans, of all ages from its spectacular beauty

Everyone wants one, but pluck its flowers and it withers and dies

Similar to all things beautiful we see

Try to harness it for greed, and it will soon cease to exist

Try to artificially make it, I see

But nothing can ever recreate the beauty of a cherry blossom tree

367. Hunger

It can be very annoying,

The pestering everyday

Never know when it strikes

Like a lion lying peacefully

Trying to cover up the rumble and the shake

The tremble and the quake

Always distracted when doing homework

Or even a scientific breakthrough

It is annoying, this terrible illness

Is it a disease?

No, for it keeps all alive every hour, day and year

For it is 

Hunger

366. Tick Tock, Tick Tock

It is used to keep track of time

Tick Tock, Tick Tock

The minutes, hours and days pass by

Tick Tock, Tick Tock

Always waiting, Always listening

Tick Tock, Tick Tock

Waiting for the time to pass, or waiting for time to stop

Tick Tock, Tick Tock

The seconds go by fast

Tick Tock, Tick Tock

The hours seem like minutes and the days like hours

Tick Tock, Tick Tock

Time never stops unless it's broken