Fellow Entrepreneurs, how do you combat the millions of people hating on you for simply making a profit?

  1. As someone who had a small company I tried to make the lives of my employees good: good pay, 30h work week (6h days, including lunch), flexibile hours, bonuses for new year, unlimitd time off etc.

  2. It seems you were remunerating your employees fairly, I assume you did business ethically, why would you feel remorse about earning more than your employees. You were helping them put food on the table and pay their bills! If you were earning fifty to a hundred times more than your employees as a small business person, you should go into consulting, there would be a plethora of small business people happy to hear about your method of running an enterprise. I’m an accountant who has a number of small business clients, they don’t make that much more than their employees after all their expenses, they persist because they prefer to be their own boss! Anyhow, all the best in your future endeavours, to make money isn’t a bad thing if you do it ethically!

  3. MOST businesses have the company and employees as adversarial as you mentioned. Opposite incentives with compensation and work hours.

  4. Exactly. It's possible to turn a profit and still contribute to your business and pay your employees a generous wage. No one with a brain is hating on people for making a profit, they're hating on people for exploiting other people (or the environment, or the tax system) to make a higher profit.

  5. To be honest, it doesn’t matter. Bill Gates spent billions in helping all of humanity and there is still vitriol against him - in some circles making him the most evil person ever - trying to inject 5g into humans through vaccines and all. Same goes with Bezos. His AWS is behind most of the web today and he gave infra in a way that works for startups. Those of us who have seen the first dot com era know how hard it is to scale a startup even after finding success with a product. AWS eliminated that challenge and the world is far better place today because of that. My small village in India with 2000 population gets at least 100 packages everyday from Amazon - we never used to have access to good in our village but today, thanks to Amazon, the world is our oyster. I owe a great deal of gratitude to both these guys and as a society what did we give them - trolling them as vultures and what not.

  6. Pay your employees well. If you're making 1,000x the lowest paid employee, you're more likely to receive hate than if it's 20-50x, especially if you're a white man.

  7. Who decides what is good? The government? The woke Twitter mob? You personally? There isn't one definition of good that we all agree on and abide by, so you will find many people that do good as far as they are concerned but keep getting screeched at by people who have a different understanding of "good"

  8. Profiting is fine, exploiting people isnt. You have to ignore the haters — it’s easy to hate when you’re not in the ring.

  9. Yeah just pay your workers a fair wage, pay your taxes, don't ship jobs overseas, and don't screw over the local community. It's not that hard.

  10. I’m prone to agree with Ray Dalio (worlds largest hedge fund manager until he retired a few years ago) the America has some real systemic issues right now that will challenge it in economic dynamism and innovation in the future. I think, what we’re seeing with the anti-work, anti-capitalism movement is dissatisfaction with the status quo. A working man or woman should be able to support a household of a partner and 2 children on one salary. Right now, we’re coming no where close to that, and actually it’s getting worse. I think of Capitalism like Nuclear Technology. It’s a powerful tool. But it has to be harnessed and focused. Capitalism needs to deliver for everyone and right now, it’s clearly not. Outcomes in America are not proportional to work or effort and I think that’s where people have an axe to grind.

  11. People are hating on others who make a profit by exploiting others. Pay your people a proper wage, treat them like humans with a life outside of your workplace and people worthy of respect and you'll have no issues. Pay them minimum and yeah, you're going to get some hate and deservedly so.

  12. I’ve never seen or heard of a business which treated their employees with respect and living wages get hated on.

  13. This is a lot to unpack honestly. I will break down a few of my specific issues, but will probably not be comprehensive. One problem is companies taking profit and doing stock buybacks to juice the stock price and enrich the board members and executives without benefit to regular employees. Second issue is corporations and their executives individually paying significantly lower percentage in taxes than the average worker. Third is that many of the capital gains made from the stocks go completely untaxed until sale combined with capital gains tax being lower than income tax.

  14. Thanks for writing this. A lot of these comments (and the post in general, IMO) are pretty reductive. Maybe I just don't come across it, but I never see people hating on moderate success/profit. I see valid, nuanced critiques of capitalism and the ultra-rich, which is a lot different, and also necessary. I'll add one from personal experience: the cost of insulin and other lifesaving drugs/treatments in the US. Pure evil.

  15. Some things to consider… no executive pays lower taxes than the average worker. This just doesn’t make sense. In CA and NY the highest bracket pay close to 60% in income tax. If you’re making minimum wage you get your taxes back. Capital gains can’t be taxed before point of sale because there is nothing to tax. No money has been made. If Tesla and spacex went to zero Elon would be broke (for perspective). Wages can’t match inflation because the price increases aren’t without causality. If shit is more expensive to import, it needs to cost more. Though out of any of your points I may agree with you most on that one.

  16. You don't even know what your true labor burden is. You have no idea that it cost a business twice as much as you actually get paid, just to have you as an employee. You can thank the government for all that. Imagine what you could be making if your employer was able to pay You that money instead of the government and insurance companies.

  17. You shouldn't worry about it as long as you treat people right. If you're the kind of person that succeeds on the back of underpaid labor, then that's where the hate usually comes from, and bigoted business practices. If you treat people right, then u won't get that hate. If you hire people and treat them right they are less likely to leave/ be disgruntled.

  18. It's Gen Z. They hate landlords too. I get that corporations and foreign entities buying residences can be a problem. BUT - otherwise it's a good thing that renting is an option -- like renting a car or anything else.

  19. Eh, the anti-imperial attitudes are directed towards international banks and government foreign policies that are enabled by the Feds monetary policies. It’s not really about small companies(I’d say anything below like a 10 billion market cap). It’s more about the corporatocracy than anything else. It is a lot of uneducated people who just have a bone to pick with the system, and look at those companies instead of the real culprits though, and for that, just gotta put ur head down n keep workin. Stay true to your morals.

  20. Don't become a Nestle or eli lilly. Make money at the same time take care of your workers and provide them with a livable wage. It doesn't matter what the industry norm is. You be the capitalist everyone admires to become.

  21. I made my first million USD when I was 16, so I had a small celebration as I never knew that was remotely possible and as a 16 year I wanted to show off. My parents took home less than $20k a year.

  22. Lots of people in here thinking they’re on the same level as bezos. You’re a nobody, when they say tax the rich they aren’t talking about you. Stop pitying yourself. The anger is directed at billionaires who exploit their workers/laws/lobbying for their own gain and don’t pay their fair share of taxes.

  23. I pay my workers what I wanted to earn in their position, enough to live (not just survive) and save to get where they want to be. They don’t have to be grateful I’m hiring them - I’m grateful they’re supporting my dreams, so I pay them a wage that allows them to pursue theirs. Mutually beneficial. Anything else is bullshit.

  24. I don’t see much hate, but I do see jealousy of lifestyle. That being said, the person here that said “you’ll never meet a hater doing better than you” is so damn true. People doing better than you respect the hustle and in most cases will help you in some way if you want it.

  25. Stop listening to corporate media telling you that you are “the rich” that people hate. Unless you’re Jeff Bezos level, you don’t count.

  26. Profit, in and of itself, isn’t a bad thing. It’s the lifeblood of enterprises that are driven by real, enduring purposes in realms far beyond the income statement. So what’s yours?

  27. Wealth is not generated by you unless you are the only one working on design, manufacturing, sourcing, distribution, bookkeeping, and sales. If the people in all those positions aren’t on their way to being wealthy, but you are- its because of their hard work, and you gaming the system to your advantage, which admittedly is how the whole system is designed. The people that do the actual work on the ground- they don’t like that system. Go figure.

  28. I make the best quality products I can and sell them for a reasonable price. I only make a modest profit but I don't feel the hate.

  29. Maybe it's because the vast majority of Americans will never get the chance to be an entrepreneur. Maybe because they lack the capital, credit, or time...

  30. You’re talking about people who are selling their labour because they don’t have their own means of production. It’s going to cause some resentment against those who are able to run a business. Honestly I think it’s the fault of successful people who can’t see this as it just increases disparity when people don’t try to understand all that people are challenged with. I’m all for entrepreneurship but I’m also for a society that’s less broken and unequal

  31. Surround yourself with others who are passionate and driven as you! You’ll quickly find out that most of the time those who are also successful in life, rarely hate on others putting in the work.

  32. People only see the success. They don't see the work, the risk, the drive, and failures before you got something that works. And they don't see what it takes to maintain it either.

  33. I have been running businesses in Canada for over thirty years, so I am used to it. Entrepreneurship is much less respected here, versus in the US. It's frustrating to see people who contribute nothing making references to "late-stage capitalism", etc., when nobody has even thought of a practical alternative.

  34. Yeah I agree with that. I hate the late stage capitalism stuff because it’s all so contradictory and odd. They all also have this poor mindset where they think it’s impossible to get a skill set or anything with any actual value

  35. Because there is a leftist/socialist zeitgeist and young people are being exposed to such ideas without hearing much defense of capitalism and free markets. Most people are sheep and go with the consensus.

  36. Yeah, this is a fact. They are taught that businessmen are bad people. A group of people told me recently there does not exist a business in America that is either exploited people or committed a crime.

  37. They are being exposed to the results of capitalism and "free markets"* with their own eyes and have decided it is not a good system. Any "defense" one could give would go against what they have seen for themselves. Convincing someone to believe what you say when it goes against what they have experienced for themselves is the definition of brainwashing.

  38. If you want the real answer, it’s jealousy and laziness. Ignore those people. They’re only happy tearing down other people’s success instead of doing something good themselves.

  39. Both. Greed isn’t good but it’s what every human would do if they had the chance. Also dodging taxes isn’t bad at all given that the government allows these people to legally do it.

  40. Totally agreed. I wish those people would read this. If they spent the same amount of time learning and developing skills instead of being resentful 24/7, maybe there would be many more successful people

  41. It’s just the pendulum swinging. We went from hustle culture to anti work. The pendulum will swing to the other direction in 2 years

  42. I really hope your right. Unfortunately as part of the younger generations I am not truly sure…

  43. Some people are bitter and resentful because they don't have the guts to get out there take chances and build something great. The best way to get back at them is to make even more profit.

  44. Nothing. They will never understand, so why try to change their minds? Those are the same people who will call you a douche or small dick for driving a nice car or something. Not worth my time.

  45. Radical politics is fashionable now for folks on the left. They are told that America is a super bad place. That its systems, institutions, values and everything that makes up a society is designed to oppress and is responsible for all your shortcomings in life. That its impossible to overcome these systemic injustices and move up to higher incomes. Your fate is locked in and can only change through social justice action and supporting the party.

  46. People hate greed. Well, most people... And you have to be greedy to get rich. Every dollar i don't pay you, i get to keep. You don't go into business to good for the world. You go into business to earn more for yourself off of others efforts.

  47. That’s a twisted and selfish perspective. You should go into business to create value for your customers. If you create value for your customers, you create value for yourself, your employees, and even society, if you choose the right business and operate carefully.

  48. I agree partially. But why is that a bad thing? Just because you want to keep the dollar that you made instead of giving it away why are you the bad guy?

  49. You laugh and realize we wouldn’t be where we’re at, people wouldn’t have the life expectancy, quality of life etc we have if we didn’t have a capitalistic system.

  50. I'm broke because of a failed business but still instead of hate and jealousy, I continue to learn from successful people until one day I can be like them. Only dumb ppl hate and envy successful people. Just make money off them. There's nothing wrong with it.

  51. I wish more people were like you. I hear all the time people resentful of friends when they should be learning from the same friends

  52. I don’t see this narrative in America. Actually, I see the rise in people opening businesses and the community supporting them.

  53. It’s a small percentage. The average American is living paycheck to paycheck with limited space. I wish it was different but I just hate how those people have such a negative outlook when at their points they have to be positive in order to get better

  54. Depends on business ethics. If you have good relations with employees and stakeholders it should be fine. Most people are pro small business so I think your fears may be overblown.

  55. Buy four dope suits, rent a Lambo and pose on social media with a big smile. Not that those things bring happiness, but haters only hate you for having what they want, and it wouldn't be wise to show haters your happy immediate family.

  56. Because they are jealous of those people. Their mentality is what keeping them from growing and adapting.

  57. You need to realize that identifying an opportunity and capitalizing on it to make money is not the same as a massive company fucking up society in order to make money that will be sheltered from taxes and to pay executives and ownership who will never have to participate in the same communities that normal people do.

  58. You literally don't know how anything actually works, you don't understand prices, wages, basic economics, nothing. What are you even doing talking about this subject? Youre causing problems by either misunderstanding things or lying outright, and you need to stop. You keep making comments that have no bearing in reality, I call it out, then you act as if you do really understand but then go on to complain about something that isn't even true. I don't have time to discuss your lies with you, it's not a fruitful way to spend my time.

  59. I'm not going to be a popular voice in this sub, but I know exactly what you're talking about because I consider myself "communist" in a very generalized sense and spend a lot of time in leftist spaces.

  60. I just think they are ignorant buffoons. Most of those people on anti capitalist site don't understand capitalism in the first place, let alone taxes or how to start/run a business.

  61. Most people don’t understand this. Just like most Americans don’t fully understand credit cards. Just like most America’s don’t fully understand supply and demand. All basic things that run our world.

  62. People now a days jusg have a victim mentality; they think they are entitled to success. They think money and good living should happen without hard work or sacrifice. Truth is you have to earn your success, so I just ignore them and keep on helping others while making a living for myself.

  63. I realized people have this dreamworld in mind fueled by social media and if something in reality doesn’t fit that dreamworld, they will do everything to argue and Deny it

  64. People who think profits are bad don't understand economics, history, money, banking, or government. It's really that simple. It's a lack of education, a failure of the education system, that people like that exist.

  65. I feel like among the younger generations 35 and under it’s not a rarity anymore yet so many of them went to college. It’s really interesting

  66. Ya so how much over market value are you paying your employees? Lucky you if your market and industry can support it. Nobody is gaslighting anyone, but based off your own comment or would seem as if you had no idea about labor burden and only view take home pay as the only cost associated with employment. We run a construction business here in NE. Labor burden for us is nearly twice what we are then able to pay the employee. If they get $20/hr, then our true cost is somewhere around $37/hr. And we run on razor thin margins. If we bid any higher in order to support higher wages, then we wouldn't get any work. Case in point, I think you're looking in the wrong areas to place your blame.

  67. That's what socialism creates. Everything is free and doesn't work for it. But people that want to make a difference in their life , wow that is not ok. A lot of people are blinded by fear and mass media, and they don't see what they are doing to the county/world .

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