#5. Attribute of money

‘Attribute of money’ by Jim Kim

Today I would like to talk about the book ‘Attribute of money’ by Jim Kim the president of Snowfox. From a young age, he started his own business and investment but failed countlessly, however now he owns a company of a great success. He became successful without a help from his parents and through all kinds of failures, and so each word in his stories touched my heart. He doesn’t have to earn money from this book since he already owns a great wealth and that is why I am grateful to him for sharing his stories honestly on how he became rich. I strongly recommend to those who try to enter the society with a big dream and also others who are discouraged with failures.

He greatly emphasizes that ‘money is like a person.’ Though the amount of the money is small, if you care it preciously, it will grow slowly and the collected money will become big with its gravity being stronger. Also, money has stamina that if you earned it in a bad way, it will disappear easily. The money that you earned slowly in an honest way, through studying has strong stamina that it can be the foundation of your wealth.

Specially, he emphasizes to handle the money with respect, and I can give you an example on how he did it.

After a meal and shopping at Manhattan, he saw a beggar. The beggar checked his bucket to see the money he collected but ended up throwing the coins and only taking the bills. After seeing it, he just walked over the coins and picked them up one by one without a word.

After reading this, I realized why I couldn’t be rich until now. I saw coins on the streets several times but never in my life pick them up. For Bill Gates, it would be a waste of time to just make the time to pick it up. I have been disrespectful to the small money even though I am not rich. I bet Bill Gates himself would have picked up the coins being respectful to it.

This book says that if you walk as an investor with the money that you collected preciously, and considering the crisis as opportunity, and studying it meticulously, you can easily become a millionaire. Its key point is that the small money will grow with compound interest and by investing it to the number 1 company in long term, you can become rich.

The founder of McDonalds, Ray Kroc, said that his company is not a hamburger company but a real estate. In the same sense, the president Jim Kim said that ‘The one who can pay the rent is already the owner of the building.’ In other words, the traffic caused by the business increases the value of the property, therefore the person who can pay the rent has already purchased the building.

We often remember the strong through history but the history talks about the weak. The defeat of the strong by the weak is the history itself, so it emphasizes that we should pledge that we the weak would beat the strong and become victorious. I dream of our future that will remain in the history as the strong.

-Solomon Trans