A country’s government is preparing its budget. It has some surplus which can be used for paying off its debtor or it can be used for introducing some welfare schemes for its citizens such as subsidies.If it pays off its debt instead of a welfare scheme, it would be classified as an opportunity cost for its citizens.

Paying off Debt Versus Spending on Welfare by the Government

Let’s say you got $50,000 in your bank account, which you don’t need immediately. You can have many options with this cash. For example, you can just keep this cash, or you can invest this money in stocks. Let’s say you would have invested wisely that money in some good stocks, and after a year, 50,000 would become $60,000. On the other hand, if you keep this money idle instead of investing in cash, then your opportunity cost will be the difference between 60000 and 50000, i.e., $10,000

Stock Versus Cash

A person named X is currently working in a company and drawing some salary. X is getting an option to do the graduation for 2 years, but for that, he/she must leave his/her job. If he/she doesn’t go to graduation, the opportunity cost will be a higher degree plus the additional salary that he/she might get because of this degree. On the other hand, if he/she opts for the job, then the opportunity cost will be 2 years’ salary that has to be foregone.

Graduation Versus Salary

You are having shares of a company worth $5,000. You are thinking of selling that shares now or waiting for 2 more months. Let’s say, after 2 months, shares would be worth $6,000. If you sell the shares now, then your opportunity cost would be 6000-5000= $1,000, which you could have gotten if you would have waited for 2 more months.

Selling Stocks Now and 2 Months Later

<ul><li>Graduation Versus Salary</li><li>Stocks Versus Cash</li><li>Vacation Versus training</li><li>Paying off debt Versus Spending on Welfare by the government</li><li>Entrepreneurship versus steady job</li><li>Selling Stocks now and 2 months later</li><li>Investing in stocks or a higher degree</li></ul>

Top 7 Examples of Opportunity Cost

You have got $20,000 which you are thinking of either investing in shares of some company, or you can invest this money in getting a higher degree in a good university. If you invest in stocks, then your opportunity cost would be higher degrees and a higher salary because of the degree. But if you invest in a higher degree, then your opportunity cost would be the profit gained from those shares.

 Investing in Stocks or Higher Degree

You have a steady job with a good income, but your passion is to open your own business, which requires you to leave your current job, and you have to spend a lot of money on opening a business. You have both options. If you are choosing a steady job instead of opening a new business, then your opportunity cost will be not having the work you wanted and maybe success because of the new business. If you start your business, the opportunity cost would be a steady job and a regular paycheck.

Entrepreneurship Versus Steady Job

Your school has announced a vacation. You finally get a chance to go on holiday for the next 1 month. But suddenly you come to know that training is scheduled for your favorite sports which you do not want to miss. So, if you go on vacation, your opportunity cost will be missing the training session, and if you stay for training, then your opportunity cost will be enjoying the vacation.

Vacation Versus Training

Learn to evaluate life and business choices via the lens of Opportunity Costs

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What Is Opportunity Cost

Opportunity cost examples that provide an outline of the most common Opportunity Cost.

Guide to Opportunity Cost Examples. Here we discuss its definition and the top 7 examples along with detailed overview and explanations.

Opportunity Cost Examples

Human and animal excrement is a natural, renewable, and sustainable resource - if only we can overcome our visceral disgust of it!An average adult produces about a pound (or half a kilo) of poo a day. That means that New York City, with its official census population of more than 8 million, pumps out more than 8 million lbs (or 4 million kg/4,000 tonnes) of excrement a day. Tokyo surpasses that slightly with 8.3 million lbs daily. China’s capital Beijing, a huge urban conglomerate of 21.3 million dwellers, beats NYC and Tokyo combined.

Holy Crap!

If you think about where our food comes from, particularly in colder climates, you’ll realise it’s grown someplace else. As our bananas, apples, lettuce, corn and rice grow, they extract nutrients from the land. That food is then trucked, shipped and flown to where we live – and where we eat it and excrete it. Yet, we don’t return that organic matter back to where we got it from, as my grandfather did. We don’t drive, sail or fly to return this organic bounty to the land. We flush it down the drain.

We Don't Let Poo Go Back To Where It Can Do Good

Our local sewage treatment plants clean that water from pathogens, but not from the nitrogen, phosphorus and potassium this wastewater is rich in. These potent fertilisers usually flow into a body of water nearby, constantly overfeeding the lakes, rivers and the ocean. That results in toxic algae blooms, dead fish and decaying waterways, which are not biologically designed to absorb so many fertilising chemicals. Likewise, our Earth is not biologically designed to keep growing food without us feeding it.

The Drainage System Can Collapse The Earth

<ul><li>With so much smart tech, why haven’t we closed our metabolic rift? The problem is that we have to mend another huge fissure in the excremental ideology – not the metabolic but the mindset one. </li><li>Unlike people in ancient societies, we still think of our excrement as the ultimate waste product that needs to be dealt with. We still don’t view it as an extremely valuable and versatile asset. </li><li>We spend our efforts and money to remove the dangerous filth rather than to acquire and use a superb product of our metabolic bodies. And that’s the leap of thinking we must achieve to fix the problem fully.</li></ul>

A Problem To Solve For The New Generation

<ul><li>For the most part, we try to distance ourselves from it as much as possible. The exact mechanisms of that process depend on where you live. </li><li>In the Western world, we flush it down the toilet. </li><li>In the less fortunate places, it’s left to decompose in pit latrines or underneath trees. </li><li>But no matter the country or the culture, the common thread is that we try to move our ordure as far away from us as we can. </li><li>We’re universally disgusted by it. It’s excrement. It’s yucky by definition. It’s appalling by sight and smell.</li></ul>

What The World Does With Poo

Dumping waste in a local body of water has proved dangerous. The infamous <a href="https://aeon.co/essays/the-next-pandemic-will-be-nothing-like-ebola">pandemics</a> of cholera that swept through Europe in the 19th and early 20th centuries were started by faecal contamination of drinking water. Even today, diarrhoeal diseases sicken and kill about 827,000 people a year in the developing world, <a href="https://www.who.int/en/news-room/fact-sheets/detail/sanitation">according</a> to the World Health Organization.

Dumping Poo In Water Isn't A Great Idea

<ul><li>Because we don’t ship our shit back to where the food comes from, we keep perpetuating the redistribution of nutrients on the planet. </li><li>Soils grow barren, so we use synthetic fertiliser, which isn’t anywhere near as good as the real shit, and also is very polluting to produce. </li><li>In our quest to rid ourselves of our dangerous dark matter, we’ve broken the essential rules and laws of Mother Nature. </li><li>By taking our poo out of the equation, we altered not only our agriculture but the entire planet’s ecology.</li></ul>

The Soil Needs Poo But We Are Depriving It

<ul><li>In the developed world, we built flushing toilets, underground pipes and gigantic sewage treatment plants to protect ourselves from our massive sh*t piles</li><li>Yet, these marvels of modern engineering have done significant damage to Earth's ecology.</li><li>Soils grow barren, so we use synthetic fertiliser, which isn't anywhere near as good as the real shit and also is very polluting to produce.</li><li>Restoring that broken link is essential to our food security and healthy ecology.</li></ul>

Those Sewage Systems Aren't Environmentally Friendly

Human and animal waste has been misunderstood all along. It is what keeps the earth's ecology balanced.

Our excrement is a natural, renewable and sustainable resource – if only we can overcome our visceral disgust of it

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A short biography of human waste and its value | Aeon Essays

These similar-looking plants are often confused for one another because they're both vines that can be trellised or left to trail. Both do best with bright, filtered light and watering about once a week, and both offer a variety of leaf shapes and patterns that can add style to any space.

Pothos And Philodendrons

The ZZ plant is an excellent pick for forgetful caregivers, withstanding periods of drought and lower light conditions. Over time the leaves can arch in a graceful fashion. If kept in good light and cared for well, the plant can grow to be quite large.

Zamioculcas Zamiifolia (Aka ZZ Plant)

These waxy-leaved plants need lots of bright, filtered light but no sunlight. The soil needs to dry out almost completely between waterings for the best result. These vines will climb, or you can let them trail over the sides of its pot. They put out numerous beautiful little flowers.

Hoya (Aka Wax Plant)

Ficus elastica is a large plant that can fill a not-so-bright corner. It will thrive in lower-light conditions and is very forgiving when it comes to missed watering. Its large, glossy leaves might need an occasional wipe-down to get rid of dust and water spots. You need to repot your ficus elastica once every couple of years.

Ficus Elastica (Aka Rubber Plant)

The dracaena marginata is sometimes called the dragon tree. This drought-tolerant plant is great for beginners. It prefers medium light but will also do well in low light to partial shade. This plant can grow fairly tall, often over six feet, even indoors, which can be a stunning addition to spaces with high ceilings.

Dracaena Marginata

It requires bright to medium indirect light and medium water but can tolerate a little drought. A happy Monstera can result in a voluminous plant that might require pruning, but this plant is also easy to propagate from cuttings.

Monstera Deliciosa (Aka Swiss Cheese Plant)

This plant can endure a lot of neglect. Sansevierias can tolerate very low light if there is some natural light in the room. They have leaves that store water and can go for longer stretches between watering. There are over 60 different species of sansevieria. Shapes can range from the classic “snake plant” look, to more interesting options like starfish .

Sansevieria (Aka Snake Plant And Mother In Law's Tongue)

Best Plants That Are Hard to Kill

<ol><li>Timing accounted for 42 percent of the difference between success and failure.</li><li>Team and execution came second</li><li>The uniqueness of the idea came third.</li><li>The business model and funding are the least important. If you're underfunded at first but then gain traction, is very easy to get intense funding.</li></ol>

Timing is the most important

The startup organisation is one of the greatest ways to make the world a better place. You can unlock human potential if you organise a group of people in a startup with the right equity incentive. Yet, many startups still don't succeed because they lack the right timing.

The startup

Aside from a good business model, a good idea and excellent execution, timing determines if a company succeeds or fails.<ul><li>Airbnb. People thought that no one would rent out a space in their home to a stranger. But the company came out during the recession when people needed extra money.</li><li>Z.com (1999-2003) was an online entertainment company with a great idea. But broadband penetration was too low, and it was too hard to watch video content online.  In 2005,  Adobe Flash solved the codec problem, and broadband penetration reached 50 % in America, perfect for YouTube to start and become a success.</li></ul>

Examples of timing

<ol><li>The idea. However, the idea is not everything. </li><li>The team and execution. Mike Tyson once said, "Everybody has a plan until they get punched in the face." Much about a team's execution is the ability to adapt and to get punched in the face by the customer.</li><li>The business model.</li><li>Funding. Some companies with intense funding don't succeed.</li><li>Timing. The idea is too early, and the world is not ready for it.</li></ol>

Factors that  contribute to start-up success

Bill Gross has founded many start-ups and incubated many others. He got curious about why some succeeded and others failed.

Bill Gross has founded a lot of start-ups, and incubated many others — and he got curious about why some succeeded and others failed. So he gathered data from hundreds of companies, his own and other people's, and ranked each company on five key factors. He found one factor that stands out from the others — and surprised even him. TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and much more. Find closed captions and translated subtitles in many languages at http://www.ted.com/talks/bill_gross_the_single_biggest_reason_why_startups_succeed Follow TED news on Twitter: http://www.twitter.com/tednews Like TED on Facebook: https://www.facebook.com/TED Subscribe to our channel: http://www.youtube.com/user/TEDtalksDirector

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Bill Gross has founded a lot of start-ups, and incubated many others — and he got curious about why some succeeded and others failed. So he gathered data from hundreds of companies, his own and other people's, and ranked each company on five key factors. He found one factor that stands out from the others — and surprised even him.

TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and much more.
Find closed captions and translated subtitles in many languages at http://www.ted.com/talks/bill_gross_the_single_biggest_reason_why_startups_succeed

Follow TED news on Twitter: http://www.twitter.com/tednews
Like TED on Facebook: https://www.facebook.com/TED

Subscribe to our channel: http://www.youtube.com/user/TEDtalksDirector

The TED Talks channel features the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and more. You're welcome to link to or embed these videos, forward them to others and share these ideas with people you know.

TED's videos may be used for non-commercial purposes under a Creative Commons License, Attribution–Non Commercial–No Derivatives (or the CC BY – NC – ND 4.0 International) and in accordance with our TED Talks Usage Policy: https://www.ted.com/about/our-organization/our-policies-terms/ted-talks-usage-policy. For more information on using TED for commercial purposes (e.g. employee learning, in a film or online course), please submit a Media Request at https://media-requests.ted.com

The single biggest reason why start-ups succeed | Bill Gross

Design debt often occurs in highly competitive markets or startups where speed to market often is the highest priority.When delivering new features quickly, you're not thinking about the structure of features or the architecture of your codebase. It often gets neglected, making it increasingly harder to add new features. And now you have to fix it as a team.Therefore, design debt is closely linked to structuring features and adhering to design patterns.

Design Debt

A retrospective meeting addresses what went well and what didn’t. It’s an open stage to share feedback without placing blame. It would be best if you focused on improvement.Benefit: You can use retrospective meetings to share updates about the code. Engineers can show what they have accomplished.  Drawback: Stakeholders and managers need to be on board with the vision and give engineers time to organise these meetings.

Start Regular Technical Debt Discussions

Tracking technical debt in the editor allows engineers to:<ul><li>Get full visibility on technical debt</li><li>See context for each codebase issue</li><li>Reduce context switching</li><li>Solve technical debt continuously</li></ul>Benefit: Developers already spend most of their time in the editor so it's the best place to track and report technical issues. Implementing a process for managing technical debt will positively influence engineering team morale and customer satisfaction.Drawback: Starting a new habit takes time and effort from team members and it's impossible to do without a tech debt hero.

Start Tracking Technical Debt in Your Editor

<ul><li>Startups can easily solve technical debt by implementing automated tools that verify code quality.</li><li>Large enterprises need to use project management tools to understand which features are in development and who’s working on specific areas of the codebase.</li><li>They should use automated code quality tools to ensure overall codebase health.</li></ul>

How to Deal with Tech Debt Differently

Code debt is about writing bad code and not fixing this in time. For instance, a developer wants to quickly merge code without writing sufficient tests or adhering to code standards.Many organizations use automation tools such as pre-commit hooks with code linting to verify code quality. When you don’t implement such code checks, bad code can quickly decline the overall quality of your codebase.

Code Debt

Technical debt refers to a rushed development process or a lack of shared knowledge among team members. However, in many cases, technical debt is inevitable and is part of a normal software development process.The negative impact of technical debt on businesses is massive.Here are the best ways to prevent and manage technical debt that both startups and enterprise companies can implement today.

Defining Technical Debt

Imagine two software engineers have worked on a new feature. They own all knowledge about this specific feature. However, other software engineers in your team don't have this knowledge. When they have to work on this feature or have to do an implementation that makes use of this feature, they won't have the knowledge required to correctly implement a new feature.Therefore, it's essential that you actively share knowledge about features and important codebase changes.

Knowledge-Based Tech Debt

A refactoring week allows your team to resolve open bugs, evaluate the current architecture, and prepare the architecture for the upcoming product features. Benefit: A refactoring week gives the needed breathing room for developers to evaluate and reflect on the code before implementing a new set of features. It’s great for solving big pieces of debt.Drawback: The development process slows down while you are doing refactoring and your team is not solving debt continuously.

Three Best Ways to Fight and Prevent Technical Debt: Code and Architecture Refactoring

Leaving technical debt unaddressed can result in several issues for your organisation, such as higher total cost of ownership, slower time to market, reduced agility because of a poorly designed architecture, and poor security.Make sure to have a process that makes it easy to share knowledge with team members and resolve technical debt continuously.

The Bottom Line

Track metrics related to different types of tech debt.<ul><li>Overall code coverage percentage and code coverage per feature</li><li>Number of failed CI/CD builds</li><li>Bug count per week or month</li><li>Feature throughput</li><li>Issues with non-functional requirements</li></ul>

Opportunity Cost Examples

A short biography of human waste and its value | Aeon Essays

Best Plants That Are Hard to Kill

It's time to
Read like a Pro.

The single biggest reason why start-ups succeed | Bill Gross

CURATED BY

Opportunity Cost Examples

A short biography of human waste and its value | Aeon Essays

Best Plants That Are Hard to Kill

It's time to Read like a Pro.

The single biggest reason why start-ups succeed | Bill Gross

CURATED BY

It's time to
Read like a Pro.