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I agree they should try. Of course MOST will not succeed but that's the educational aspect of the experience. It's far harder than most would imagine. Yet th
by xyzzy21 5y ago
I agree they should try. Of course MOST will not succeed but that's the educational aspect of the experience. It's far harder than most would imagine. Yet the ONLY REASON 99% of engineers get paid and have their services valued is what is delivered to the customer in terms of value. Without that, engineers would be as non-essential as typists or any other declining job category.
You efforts have NO INTRINSIC VALUE without that customer being willing to pay money for the results!!
That is a reality and universal truth of economics - NOTHING has economic value UNTIL it is transacted for exchanged value. It is ONLY at that moment that the value is known. And even then the certainty of that value decays exponentially with time. After a few time constants/half lives, the value is again indeterminant because you don't know for sure if somone will commit to paying for your value again. It's always "What have you done lately?" combined with "What does the 'market' (i.e. any other individual or group of humans) think they are willing to commit to exchanging?" Commitment = Value.
This is literally how bourses/exchanges work: they do nothing more than record what two parties have been willing to commit to in terms of item and price for the item, on an instantaneous and average basis over time. That's the low-level algorithm of all bourses (e.g. stock exchanges, bond exchanges, derivative exchanges, etc. - it's all ultimately negations between parties and explicit commitments to those trades). There is NOTHING "magical" about it - they are not mystical oracles of truth.
But learning this directly is always more effective than being "told" what a thing is or how things work. Direct experience will responsibility (however short) will make you a better person and more aware of your own specialty. It also helps you know how to look out for yourself and when to say "no" and when to "walk away".