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I get that this is hyperbole, but: 1. There are plenty of US Government (i.e. tax payer funded) programs to help people get "normal" ideas off the ground. From

I get that this is hyperbole, but: 1. There are plenty of US Government (i.e. tax payer funded) programs to help people get "normal" ideas off the ground. From grants, to loans, the money is there. It's hard to imagine someone destined for success being stopped by not being able to raise $10k. $10k in credit card debt is nothing for the average american. 2. Success breeds success. If you're rich, you may already have your own skin in the game, or you may have proven yourself capable of using capital effectively.

xiaoma 9y ago
Since you seem knowledgeable about this, what is the amount of credit card debt available to the median American above what they already carry?
- balls187 9y ago
  Above what they carry is irrelevant. American's can get themselves on average up to 5-7k of debt[1], it's reasonable assumption that if one was determined, they could get $10k in credit. https://www.valuepenguin.com/average-credit-card-debt https://www.valuepenguin.com/average-credit-card-debt
  - xiaoma 9y ago
    I can say from first-hand experience a few years ago that your assumption—which you presented as fact—is false.
xenadu02 9y ago
> 1. There are plenty of US Government (i.e. tax payer funded) programs to help people get "normal" ideas off the ground. From grants, to loans, the money is there. It's hard to imagine someone destined for success being stopped by not being able to raise $10k. $10k in credit card debt is nothing for the average american. You've obviously never tried this. It would be a full-time job for a year to even have a shot at these supposed grants. The money is absolutely not there the way you claim. The younger you are the less credit history you have which makes getting loans almost impossible unless you already have collateral to pledge against the loan. Oh and $10k is often not nearly enough capital to start a business since you need to pay your own bills while you bootstrap the business. We get away with it in tech often because we have the luxury of working after-hours as a side-project to start with. A customer-facing business can't do that.
- balls187 9y ago
  > It would be a full-time job for a year to even have a shot at these supposed grants. How bad do you want to start a business? How long do you think startup founders work before having something that is worthy for seed funding?
pnutjam 9y ago
$10k would be life changing to many American familes.

xiaoma 9y ago

Since you seem knowledgeable about this, what is the amount of credit card debt available to the median American above what they already carry?

balls187 9y ago
Above what they carry is irrelevant. American's can get themselves on average up to 5-7k of debt[1], it's reasonable assumption that if one was determined, they could get $10k in credit. https://www.valuepenguin.com/average-credit-card-debt https://www.valuepenguin.com/average-credit-card-debt
- xiaoma 9y ago
  I can say from first-hand experience a few years ago that your assumption—which you presented as fact—is false.

xenadu02 9y ago

> 1. There are plenty of US Government (i.e. tax payer funded) programs to help people get "normal" ideas off the ground. From grants, to loans, the money is there. It's hard to imagine someone destined for success being stopped by not being able to raise $10k. $10k in credit card debt is nothing for the average american. You've obviously never tried this. It would be a full-time job for a year to even have a shot at these supposed grants. The money is absolutely not there the way you claim. The younger you are the less credit history you have which makes getting loans almost impossible unless you already have collateral to pledge against the loan. Oh and $10k is often not nearly enough capital to start a business since you need to pay your own bills while you bootstrap the business. We get away with it in tech often because we have the luxury of working after-hours as a side-project to start with. A customer-facing business can't do that.

balls187 9y ago
> It would be a full-time job for a year to even have a shot at these supposed grants. How bad do you want to start a business? How long do you think startup founders work before having something that is worthy for seed funding?

pnutjam 9y ago

$10k would be life changing to many American familes.