EUREKA! I have known how to be rich- and i will not hide it from you

the image in the mirror? That could be me...
the image in the mirror? That could be me...

I have always wanted to be rich. And I have never been able to conceal that desire from both foe and friend. And that is why a couple of months ago, I posted in a forum the question, “how can I be a millionaire before I am 30?” Needless to say, I got some really funny advice and some really good ideas too. I also got a serious joker who I would have flagged if the forum allowed that. He had answered, “Be a prostitute that charges a dollar, get a million Johns” Anyway, most of the advice I got was not worth trying. Because all average earners where already trying that and they had still not crossed the valley of lack and want.

Then one day I am watching TV, a commercial comes up and bingo! I had gotten the secret of being stinking rich. Actually, the commercial was as a result of a price war between a huge industry player (identity with held) and another company that was struggling to curve out a niche. The commercial looked desperate to me and that is what gave me the idea. If I was Archimedes, I would have run out of my house naked shouting Eureka! To anybody that would care to listen and watch.

So what is the secret? The secret dear reader is in one word- MONOPOLY.

Now, I was taught in college that a monopolistic market is a bad market. The firm that monopolizes a market creates so many barriers to block out new entrants that there will be no competition. And competition is good for the consumer. Competition means there will be other options and therefore the big company will begin to listen to the voiceless customer. So my lecturer in college said emphatically “a monopoly is not good for the economy.”

I will neither confirm nor deny that. All I will say is that any big company that has managed to be a multinational corporation has managed to do so only by monopolizing the market. Think of Wal-Mart, or think of Microsoft. Yes. Microsoft is a good Example. Imagine if you decided to uninstall anything Microsoft from your machine. Chances are you would have no software on the computer. Did you know that windows operating system is way too unreliable if juxtaposed to linux operating systems? Linux will not crush, it will not give you a blue screen, it will never get infected by a virus, and more importantly, it’s free of charge…and yet you still use Microsoft’s windows operating system. What is going on? It’s a monopoly at work.

Let me give you another illustration. I don’t know about other countries but in my country, it appears the Japanese guys have decided to take over the motor industry. In fact, they have a slogan for Toyota that "the car in front is always a Toyota." It actually is true most of the times. Our own innovative automotive engineers came up with a local car but it dint last even a decade. The monopoly swallowed them alive. So monopolies are bad right? Well, that depends on which side of the divide you are. If you are the CEO of Toyota, then a monopoly is good. If you own Microsoft then a monopoly is good. If you are a Walton, then a monopoly is good. And so I say again EUREKA! Now I know how to be rich…just get a product and create a monopoly. The only problem is I don’t have any ideas of such a product at the moment…but am thinking. My monopoly coming soon.

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Comments 8 comments

Ania L profile image

Ania L 5 years ago from United Kingdom

I like the quote about Toyota thing :) Mind that it is also known for the quality - those cars usually last very long and are very reliable. So the monopoly is not only about being the only in in certain market but simply offering something unique. Check Virgin - their founder is the guy I really admire for the vision.


ronhi profile image

ronhi 5 years ago from Kenya Author

@ Ania L, Thanks for stopping by and leaving your feedback. And I admire the rebel billionaire too. When i grow up, i want to be as rich as Him...or maybe even with some lots of luck, richer than him :-)


point2make profile image

point2make 5 years ago

Great Hub! It does make you rethink those long boring lectures. Could we have been led astray by our professors? Might they have had an ulterior motive? Monopolies are a natural part of the business cycle. The examples you give are ones we are all familiar with. Well done and I hope you achieve your dream.


ronhi profile image

ronhi 5 years ago from Kenya Author

@pointtomake, Even the great Einstein's theory of relativity which stated that nothing travels faster than light was proved wrong in geneva last month... i think thats an indicator that we should reamin open to new ideas and schools of thought. Thanks for your feedback


Jean 5 years ago

Good luck,ronhi. Follow your dream.


ronhi profile image

ronhi 5 years ago from Kenya Author

@ Jean, thanks for your feedback and support!


IMkapten profile image

IMkapten 5 years ago

Very cool Hub, I like your writing.

As you said monopoly can be good and can be bad, depending on which side u r. But remember, no matter which side u r - monopoly is usually negative to the rest of society, So keep that in mind when you take over the world =)


ronhi profile image

ronhi 5 years ago from Kenya Author

IMKapten, you have a valid point...maybe there is a way of having a monopoly that is "user friendly" Just maybe...Thanks for your valuable feedback

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