Welcome again to everybody, and happy anniversary of the founding of the Communist Party of Vietnam . Make yourself at home and pay your respects to Ho Chi Minh. In the time-honoured tradition of our group, here is the weekly discussion thread.
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I have received a new job; very well-paying with great benefits. However, if you’re a marxist, it really blows your mind.
They make medical devices. These medical devices cost roughly 20-30 dollars to manufacture; with the equipment being at most a half a decade old, already paid off. Each one of these medical devices can cost up to 200-500 dollars at purchase. There is legit just a 300-400 dollar profit margin on each medical device (over a thousand made and shipped a day) while people are getting paid 17-19 an hour.
Crazy stuff!
what are the economics behind this? is it a lot of labor or is it a monopoly/cartel thing or is it something the hexbear capital group hasn’t gotten to yet?
It’s a medical device that is glass and glass only. I actually do think it’s a slight monopoly thing; but it’s sort of a monopoly because there really is no way to get into the market these days without budging into the giant entity that controls it. Like they won’t stop you…but good luck.
Good ol’ honest merchants amirite
the most honest, the best, the best merchants folks.
I feel like everyone (and maybe Marxists especially) should get a manufacturing job at one point to see how outrageous some companies’ profit margins are. I used to be a carpenter making doors. I’d make probably around 8 or so doors and hour at 13 euro an hour. Each door would sell for around 300 euro. Sure, you need some wood for that but I’d guess the average door cost around 50 euro including salary to make. It’s insanity to realize that for every 13 euro you receive you make the company like 1800 euro.
I think for every 18usd the staff get, they make them well over 50,000 dollars in a day.
It truly is absurd money when each device costs like 200-600 and they ship out over a 1000 a day.
the classic “it would cost me an entire day’s pay to buy one of the widgets that my line makes a thousand of an hour”
They were at least cognizant enough to offer the devices for free to their employees. I got to be a bit vague when talking about it. Feel free to come to your own conclusions though, hehe.