It is rather objectionable to label people with your assumptions. Unless you have some inside information you are just making shit up based on your own judgemental bigotry.
People start "hobby" businesses for many reasons, and those reasons are not always status oriented. All too often I've seen idealistic people with the best intentions crash into reality (often financial reality, but often other causes as in the article).
It's in the same paragraph...
> I have a foreboding of an America in my children's or grandchildren's time — when the United States is a service and information economy; when nearly all the manufacturing industries have slipped away to other countries; when awesome technological powers are in the hands of a very few, and no one representing the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority
Apart from that, I read “crystals” and “horoscopes” in a more metaphorical sense here.
The real enemy is the belief that value can be created from nothing, such that an economy of infinite growth can exist. Once you've exhausted all the externalities - exploiting people overseas, domestically, pillaging natural resources - you're left in a zero sum game.
I have a foreboding of an America in my children's or grandchildren's time — when the United States is a service and information economy; when nearly all the manufacturing industries have slipped away to other countries; when awesome technological powers are in the hands of a very few, and no one representing the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority; when, clutching our crystals and nervously consulting our horoscopes, our critical faculties in decline, unable to distinguish between what feels good and what's true, we slide, almost without noticing, back into superstition and darkness.
Chapter 13: One of the saddest lessons of history is this: If we've been bamboozled long enough, we tend to reject any evidence of the bamboozle. We're no longer interested in finding out the truth. The bamboozle has captured us. It's simply too painful to acknowledge, even to ourselves, that we've been taken. Once you give a charlatan power over you, you almost never get it back.
Chapter 25: In every country, we should be teaching our children the scientific method and the reasons for a Bill of Rights. With it comes a certain decency, humility and community spirit. In the demon-haunted world that we inhabit by virtue of being human, this may be all that stands between us and the enveloping darkness.Contrasted with very rational people who are chasing magical, unmoored valuations in the stock market for instance. We buy and sell equity based not on future cash flows, but on confidence there will be a bigger sucker down the line. This untethering of "value" from any productive work is a greater contributor to the hollowing out of the US economy than anyone buying a piece of amethyst.
Sounds like it wasn't so much a business as a piece of performance art.
I've been running a retail business with similar inventory costs for a couple years. I have one employee and I pay them generously. I personally chip in about 20-30k annually to keep the whole thing afloat. It's definitely possible if you keep things small.
Edit to add: 10k in inventory just doesn't add up. In retail you need to turn over inventory multiple times annually to cover your fixed expenses like staff, rent, etc. if you only have 10k worth of inventory and you're burning >10k a month that means you're selling everything in the store every couple weeks. I don't think books move that quickly, although I could be corrected. Usually the retail standard is turning over inventory 4-5 times annually.
Dead Comment
> In addition to SSNs, the database reportedly includes Americans’ place and date of birth, work permit status, and parents’ names
This is quite a bit more information than just a number.