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rm999
on July 31, 2012
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How I made $10k in one day with Facebook Ads
Decent point, but the records were a liability for him, their value to him was probably ~0. From that context the revenue was almost pure profit.
pavel_lishin
on July 31, 2012
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So he lost the original amount he paid for the records, because the value went from $COST_OF_RECORDS to 0. That still has to be considered.
briandear
on July 31, 2012
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Those records were an asset. He paid $2000 or so for the records and they had a demonstrable market value of $10,000 (he sold them.) The liquidity could be questioned, but it wasn't a liability.
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