Goddamnit Son my life is a lie the way i make choices is a lie and i am a retard.
i think everything changes when the paradigm with which you approach a problem changes...
such as how i'm learning the economics concepts and truly looking at them; not just taking a passive approach -- albeit a lot of content in a few days (help me) (this is unsustainable)
but i always thought i was built a certain way - i'll tell myself things (that i dont view as lies)
(but what gets viewed as lies changes when your truth changes right)
I'll tell myself:
oh dont worry ill get it done later
oh no i'm smart enough to catch up
(more insidious now)
oh i have so much biz related work to do that i dont have time to study
oh the prof is some retarded animal that cant teach (true as it MAY be)
oh i'm so stressed with the biz stuff
oh let me get the biz stuff over first, then study
and the worst:
oh. my parents are already so old, and if i do not start something proper within the next few years, my measly pay as a salaryman in university is going to suck some shit *** (I will analyse this claim later after my general analysis)
ooh boy.
welcome to a fucking cacophony of lies.
and even more so, perhaps i'll reacquaint myself with some elementary rules of economics.
Explicit Costs - Costs that occur in monetary terms
Implicit Costs - Costs that don't involve outlays of money
Opportunity Costs - value of the next best alternative forgone (forward looking)
Sunk Costs - Costs already incurred and cannot be recovered/changed
Nonsunk Costs - Costs that are incurred only with a specific choice/also known as avoidable costs
So these are the costs that are actually associated with my choice wtf:
My Thesis:
I hate the course of university because it's not relevant nor practical for the real world, and I get a lot more engaged and excited by external opportunities than not.
Choice 1:Join University: Nonsunk Cost: 45k in debt + Opportunity Cost of unknown function
Dont Join University: Clear Opportunity Cost with specific payoffs in the future (to the tune of being worth 2.8m in lifetime value. idk what present value is but yeah)
_Joined University_
I don't want to spend time in University and think of quitting constantly, bringing a lackadaisical approach to my rather (technical) classes thank god its technical coz at least that's worth something. and view it as a waste of time.
I want to start my own business.
As context I left to start Jules, paying me 2.5k a month for a year before I returned to school. but I never spent a single term in school just focusing on the education I could gather
Choice 2:
Focus on University:
Opportunity Costs - potential earnings from various ventures and schemes, as well as loss of relevance and network effects in entrepreneurship ecosystems
Do not focus on University: Explicit Costs - lifetime earning quantum between First Class Honours and a Non- First Class Honours (very real quantum, especially if you ask any government or MNC scholar),
Implicit Costs - Internship opportunities at the very highest levels of business and finance, confidence of position within the societal context, parental anguish, personal stress and misalignment
Sunk Costs - If you count re-taking modules failed and underperformed, to the tune of $2K per module and the time-value of the government loan expiring as you waste term time.
Opportunity Costs - Some internships in University pay out 10k a month for 3 months. That's more than what I got in Jules for a year. With what i've achieved in the space outside of uni, (assume 99th percentile), I assume I can actually easily get this internship had I focused on university only, as the alternative choice.
Well guess which choice I made? Fockin dumbass.
_Do Not Focus On University_(Behind the napkin calculations of potentially 3 - 5 million in lifetime value lost) OH MY GOD.
okokokokokok. ok guys ok. what.
Current Dilemma:
Change course to Focus on University:Sunk Costs - Sweat equity with my team in Forge, Aunty Val, ACSBR.
Opportunity Costs - Money and growth in building the business out of school
Do not focus on University:
Sunk Costs - More sunk costs as more modules failed and time wasted check out what happens if quit
Opportunity Cost - Exchange programme with a girlfriend, total revenues and learning and opportunity from the company im trying to build
Is there a clear choice?
Dilemma: I already let go of alot of potential upside from school, got alot of sunk costs, but the current choice im making- am i actually approaching the shutdown or non shutdown conditions of a firm? what the fuck
I think I need to look at my cost functions.
But before that let me leave you with this:
The great secret of economics lies not in it's assumption that humans are rational movers, but in the idea that if humans were economically rational, they would have the world in the palms of their hands.
Now. Think about that.
From the most micro of decisions like the pineapple tart on the table, to the big ones like pursuing university or otherwise...
Maybe economics is the right course for me afterall.
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