I was the Founding Father of the United States

Chapter 58 Full of buffs

"You're right!"

Chen Wenbin nodded slowly, seemingly affirming his discovery. "Reliability and quality are the lifeblood of the Jenna spinning machine, and also the logical basis for why it can sell for £49!"

A tool designed to create wealth for the buyer is a cheap consumable if it lacks reliable quality and requires repair or even breaks down every so often!

Under full market competition, its market price can only be maintained at a level slightly higher than the cost line, and it is absolutely impossible to sell it at a high price!

I can guarantee that the Jenna spinning machines manufactured in my factory can withstand the continuous use of three families day and night, and the cotton and wool yarns spun by all the machines are of very stable quality, providing users with a reliable expected income.

They don't have to worry about the machines breaking down easily, or even about not being able to sell their cotton and wool yarns.

I established a credit bank and trading company in Providence to provide them with credit services to purchase spinning machines and to acquire the fruits of their labor…”

He paused here, picked up the teapot and poured himself a cup of tea, both to soothe his throat and to give old Joseph enough time to think.

This is a simple psychology trick... Most people subconsciously believe that the answer they arrive at through their own independent thinking and deduction is correct.

Sure enough, after a few seconds of thought, old Joseph asked, "...So Robin, what method do you use to ensure the reliability and quality of the spinning machine?"

Is it through stock incentives for the company's managers and craftsmen?

"Yes! But not entirely!"

Chen Wenbin smiled slightly, put down his teacup, and said, "I also built simple houses near the factory for ordinary workers that can accommodate a family, and prepared a school for the workers' children so that their children can work for the company when they grow up."

I also prepared work injury insurance and medical insurance for them. They only need to deduct a portion of their monthly salary to receive free treatment, because they can also receive insurance compensation for work-related injuries...

Old Joseph grew increasingly uneasy as he listened, and exclaimed in surprise, "Robin! You...you're perhaps a utopian?"

"Utopia?"

Chen Wenbin thought for a moment with a complicated expression, then shook his head and said, "No! Although I was indeed inspired by Thomas More's 'Utopia,' I think it would take at least five hundred years or even longer to realize the human vision depicted in Utopia!"

Because there are base elements hidden in human nature, if they cannot be suppressed, a utopian paradise like Eden will likely only exist in the dreams of some!

Joseph laughed upon hearing this, "But nowadays, some young people in Britain admire the lifestyle of 'Utopia,' and they have even conducted experiments in the British countryside and France, though I haven't heard of any success!"

Ok!

I think I understand your purpose in doing all this. You want to use stable livelihoods and stock options to enable workers and managers to produce reliable machines, and then use the high profits from those machines to cover the additional costs incurred... Am I right?

"Exactly!"

Chen Wenbin nodded and said, "Stable and reliable products need to be produced by workers who have hope for life, not driven by the whip of a supervisor!"

Slavery is only suitable for plantations and small workshops that have no technical content. PUIC is a technology-innovative company, and we cannot sacrifice our product quality for the sake of a little profit deducted from labor costs!

I can't imagine how stupid someone would be to do something like that!

He was speaking the most straightforward logic of capitalism, which Joseph understood immediately.

"...I must admit, Robin! You are truly a remarkable figure of our time!"

Old Joseph remarked, "Even if you weren't a doctor, inventor, or scientist, your business acumen alone would quickly make you very wealthy!"

How can one go straight into business without the aura of a scientist or miracle doctor?

That's suicide, isn't it?

Chen Wenbin mentally complained, patiently waiting for the other party to continue.

Seeing that Chen Wenbin remained unmoved by the praise, old Joseph nodded in satisfaction, then raised his right index finger and said:

"One last question! If you didn't obtain a patent, but someone used your invention to mass-produce a new type of spinning machine and then sold it cheaply, what would you do?"

Chen Wenbin knew this was the final test. He didn't answer immediately, but pondered for a moment before slowly shaking his head and saying, "The laws of physics are unshakeable. Cost reduction will only lead to inferior quality!"

These cheap machines may sell well in the short term, but people will soon realize they've been fooled. They will weigh the pros and cons and realize that they are not buying the machines for consumption but to create wealth, so they will naturally choose the more reliable ones.

However, faced with such fierce competition, the company's early period of high profits will be quickly shortened, forcing it to lower prices to a suitable range.

He calmly analyzed, "I believe that a machine that only costs £6 but often breaks down and produces inconsistent quality yarn is better than a machine that costs £12 but is reliable and comes with maintenance services."

Savvy workshop owners will definitely choose the latter!

Even if Parliament hadn't granted us the patent rights, we could have easily opened a large textile factory in London and directly profited handsomely from the textile industry!

I think His Majesty the King would be very interested in this!

Previously, Chen Wenbin's business logic for PUIC was to obtain patent rights and only sell machines without participating in the competition in the textile industry. But if the British Parliament does not uphold the principle of martial law and does not grant patent rights, then what else is there to say? Just build a large-scale textile factory!

He not only had the standardized Jenna spinning machine in his hands, but also the water loom that he hadn't brought out yet. The latter used ball bearings and its efficiency was tested to be more than thirty times that of the hand loom!

If we can convince George III to invest, running a textile factory will definitely be much more profitable than selling the Jenna spinning machines!

However, he did not want to accelerate the Industrial Revolution in Britain too much, so he strategically shelved it.

"...Your Majesty?!"

When Chen Wenbin mentioned King George III, old Joseph was slightly taken aback, then smiled helplessly and said, "His Majesty the King would certainly be happy for the royal family to have an extra source of income, but for the past sixty years, the Whig Party has been serving the country!"

You know what I mean!

What does that mean?

Of course, even the king couldn't stop London's big merchants and nobles from making money!

"That's why I want to hear your terms!" Chen Wenbin spread his hands and said, "To be honest, not counting the PUIC shares, I currently have about £25,000 in assets, and I actually have more money than I can spend!"

If London merchants don't welcome me, I can return to North America to run my town and farm, and then sell wool medicines and other new inventions to Britain and Europe.

PUIC can also shift its business to these areas, and I won't let the shareholders lose money... So Joseph, let's just get straight to the point!

You state your terms, and I'll see if they're acceptable. If we can't cooperate, then in a few days I'll meet the King, present him with the gifts, and then sail back to North America!

"..."

Looking at Chen Wenbin, who seemed ready to flip the table and go back to North America at the worst, Old Joseph thought and thought, but really couldn't find a way to control him.

This guy was already a colonial tycoon and a member of parliament, and he was about to marry into the Spencer family, making him a member of the upper-class aristocratic circles in Britain and North America.

What makes it even more perplexing is that he is also a renowned physician and scientist known to everyone in Britain, and he will definitely become a Fellow of the Royal Society in two months. His fame has even spread to Europe!

Doctors and scientists in France, the Netherlands, and Germany are studying his paper closely, and if they knew he had come to England, invitations from various European universities would surely have flooded London...

Even King George III thanked him for the medicine that saved his youngest son, invited him to the palace, and most likely even knighted him... What can you do with him?

We can't just kill him outright, can we?

How many nobles and merchants in London were counting on him for treatment!

These thoughts flashed through his mind, and old Joseph felt a headache coming on!

This guy is just too unsolvable!