Alec Hogg: SA opportunity in US min wage doubling

If ever there were a bullish message for South African entrepreneurs, it's the obsession by new US president Joe Biden to double his nation's minimum wage to $15 an hour. At yesterday's exchange rate, that's the equivalent of R222.50. Which is more than 10x the SA minimum wage of R21.69..Also read: Alec Hogg: Secret sauce which makes staff evil.I've been blessed through close relationships with a number of extraordinary entrepreneurs. The most successful of them all, a self-made man, once shared what he said were the driving forces behind the accumulation of an asset base worth billions of dollars..First, this business genius told me, hire the brightest people you can afford, put them into a room and let oxygen do the trick. Second, always look for the opportunity to arbitrage mis-priced markets. Preferably use 1 and 2 together..___STEADY_PAYWALL___.Also read: Alec Hogg: SA modelled on declining power bloc.South Africans need step back for nobody (ask Elon Musk). If Biden gets his way, however, they will cost employers a tenth of those based in the world's most successful economy. In this increasingly digitised and thus borderless world, the arbitrage opportunity is blindingly obvious. So what's stopping you?.NB FOR YOUR WALL STREET JOURNAL ACCESS….Because of The Wall Street Journal's credential requirements to access its site, your password MUST be at least 8 characters and include at least one letter and one number; and it MAY NOT contain any special characters (ie #, !, @ etc). To maintain access to WSJ.com, you MUST enter our partner's website at least once a month via BizNews Premium..Sign up now for this webinar….I'm hosting Bright Light Solar's CEO Kevin Shames on Friday at noon. It could be your last chance to benefit from the 12J tax incentive which is die to expire this year and from what we hear, won't be extended. Register here: https://attendee.gotowebinar.com/register/1059698724607359500.And for your listening pleasure….Latest audio now on BizNews Radio.…..(click on the link to access).FB: Tesla, Musk power up Bitcoin; Nedbank linked to State CaptureCatholic Church puts assets out of reach of sex abuse claimantsShort-seller Carson Block – other side of the GameStop frenzyMagnus Heystek: Why SA asset manager performance so dismalTaking Stock of past JSE week: Curro, Sasol, Sibanye, Distell Inside Covid-19: Why it may take 7 years for normality to return

Alec Hogg: SA opportunity in US min wage doubling

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