Startups are pummeled in the ‘great unwinding’

Post by ikiris » Sun, Apr 05, 2020, 3:52 AM UTC

xapata wrote: post #294

qppo wrote: post #54

Startups are in way better shape than traditional small businesses. By our very nature, we need months of runway just to keep running. We're designed to weather this kind of storm because "zero revenue" is the default state. Hearing about Bird cutting 30% of their workforce is awful. But it's nothing compared to the thin-margin Mom & Pop, or medium sized private enterprise that had 1 week of cash on hand and ceased o…

> thin-margin Mom & Pop, or medium sized private enterprise that had 1 week of cash on hand and ceased operations overnight. It would be foolish of them to fold instead of getting loans. And it would be foolish of a bank to deny a good business a loan to get through the next couple years. I think much of the moaning about closing up is to encourage low-cost loans. Which is fair, because the government should be subsi…

Post by pasttense01 » Sun, Apr 05, 2020, 4:06 AM UTC

sjg007 wrote: post #249

not2b wrote: post #154

Earlier quoted context omitted.

Only the federal government has the ability to borrow money. States have to balance their budgets every year, and whoops, half their tax money has now vanished, because so many can't work. Delegating responsibility to state governments and simultaneously refusing to provide the needed resources is a recipe for failure. Allowing unlimited profiteering on essential supplies and forcing states to bid against each other,…

States can borrow money if they want, they are called bonds. The Feds can print money or they can sell bonds. That's the difference.

Post by invertY » Sun, Apr 05, 2020, 4:07 AM UTC

SpicyLemonZest wrote: post #292

invertY wrote: post #289

Earlier quoted context omitted.

CN has already penetrated Western markets. Do you expect the Martian Axioms to help you?

Sorry, I want to give a response, but I just can't figure out what you're trying to communicate here.

Post by vxNsr » Sun, Apr 05, 2020, 4:13 AM UTC

numair wrote: post #145

seibelj wrote: post #131

Earlier quoted context omitted.

But I genuinely believe all federal government leadership is incompetent - it’s not a matter of it being “OK”, that’s just the default for every administration. Which country on earth is responding to this well without resorting to authoritarian practices?

Denmark. Norway. Singapore. New Zealand. Taiwan. The fact of the matter is, there’s too many people in America invested in a cynical notion that we should expect the government to “fail,” which makes it easier to keep everything underfunded, which almost guarantees failure (random acts of heroism not withstanding). THAT, more than any single person, is what’s killing America. And that’s a bipartisan cancer.

Post by RestlessMind » Sun, Apr 05, 2020, 4:23 AM UTC

vosper wrote: post #254

muse900 wrote: post #244

Earlier quoted context omitted.

Small-medium hotel owner here, that used to write code for a living. What just happened in my industry, is forcing me to go look for a job. I don't think we are going to open for summer season or even if we do its not gonna make enough to live by. Hundreds or thousands of years ago, a few had all the wealth and then most people were poor. We even had slaves. I can't believe that in 2020 and with all the knowledge we'…

First, I'm sorry about your troubles. But it's not this way everywhere: there are countries (I'm thinking of Scandinavian) where inequality is perhaps not so bad, and there are countries where governments are making major and genuine efforts to support businesses and people who are at risk of (or who have) lost their jobs due to Covid. There's bad leadership and bad behaviour in many places, but not everywhere all at…