I really thought as an entrepreneur, as a startup, you really cannot spend money like hell without thinking about tomorrow.
作为一个创业者,在创业初期,不能随意烧钱而至公司未来于不顾。
And too many companies can actually hang on for almost too long with too much money because there has been so much money funding these ideas.
而太多公司吊死在投资这棵树上了,浪费了大量时间和金钱,因为投入的金钱实在是过于多了。
Well, they created special entities called SIVs and the SIVs would be borrowing money on the commercial paper market to buy subprime loans.
银行建立特殊实体结构投资公司,而结构投资公司,通过在纸货市场借贷,以购入次级债
Here, Firm 1 produced nothing and Firm 2 produced a monopoly quantity; and here Firm 2 produced nothing and Firm 1 produced a monopoly quantity.
在这点是公司1停产公司2垄断,而在这点是公司2停产公司1垄断
Fortunately, Square is a company 1 that has revenue from day 1 so we can look at constantly building that and we don't have to worry about much investment.
幸运的是,Square是一家,从第一天就有收入的公司1,所以我们可以看到在不断地建设它,而不必担心投资问题。
We would like a model in which firms set prices because for the most part we think firms do set prices not quantities: Not always but for the most part.
我们想要的是一个由公司设定价格的模型,因为在大多数情况下,我们认为公司是设定价格而不是产量,虽然不总是如此,但大多数情况是这样
In one model we thought of the firms setting quantities and the market determining prices, and here we have the firms setting prices and the market determining quantities, but the basic underlying economic structure of this is very, very similar.
在前一个模型我们假设公司设定产量,而市场决定价格,在本模型中我们假设公司设定价格,而市场决定产量,但基本的经济结构是非常,非常相似的
So here I've interpreted these terms here as transport costs, and I've interpreted what makes the products different is the fact that one of them is selling at one of the end of the town, and the other one is selling at the whitehead end of town.
我将这个条件转化成了交通成本,并且我将造成产品的不同转化为,是由于一家公司在城的一边销售,而另一家公司在城的另一边销售
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