3 ms·

Wealthy relative to startups, or relative to the real world?

• cbo100 10y ago
  relative to how much debt he had to pay off? $40MM wouldn't be much buffer for a product that was about to go into manufacturing and distribution I would have thought? I.e. all the costs of design, development and planning are sunk. And they didn't get to the stage of selling them to recoup any of that.
  • the_duke 10y ago
    My guess is most/all of that money went into paying off suppliers and debt.
  • derekp7 10y ago
    But he isn't personally responsible for that debt. As CEO, he could have drawn enough salary to build a decent sized nest egg, where he isn't immediately looking for a job.