The answer to the question above is "experienced a loss condition" which the situation that Louis will face if he decided to make another gadget. The net income or loss is the difference between cost and benefit of a project or a business. A loss will occur if the cost is higher than the benefit in a business or a project.
Longitude is the measurement east or west of the prime meridian. (Imaginary lines that run around the Earth vertically. up/down.)