We literally just ran this experiment. If you give people money, they will stay home, play video games, and order door dash. There simply are not secret Shakespeares trapped in minimum wage jobs.
@jeremykauffman New business applications spiked higher and have maintained since the pandemic.
@PatrickHeizer @jeremykauffman A very large fraction of this is fraud. The remainder is people like me who realized they could efficiently WFH & decided to work for ourselves at reduced overhead and not corporations. I received no govt $. Unmotivated people did not get govt cash & start a new business.
@PatrickHeizer @jeremykauffman Wow. Just a few of these wonderful new businesses adding to the economy 👇👇
@PatrickHeizer @jeremykauffman LOL. “Tyrone needs a government loan for independent study of genetics and shit. 100% will go to payroll”
@PatrickHeizer @jeremykauffman I started a business due to the snapback. The world stopped, many got a wtf am I doing with my life moment, many better options if you actually pursue 100%. Income can easily 100x. Not everyone is built for it. But most are stuck in rotation of the 9-5 to think otherwise
@PatrickHeizer @jeremykauffman That's called "The Start of an Austrian Business Cycle".
@PatrickHeizer @jeremykauffman Fake business for PPP loan fraud, I suggest you look into this. It’s actually astonishing how rampant it was and how many people will get away with it
@PatrickHeizer @jeremykauffman It's what happens when you find out how much your company dgaf about you and the government hands you the equivalent of a micro loan.
@PatrickHeizer @jeremykauffman Right, that’s the PPP fraud you’re seeing.
@PatrickHeizer @jeremykauffman Fake businesses for PPP and business credit lines being drained.