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This seems like terrible advice. I'm highly against borrowing money or receiving investment money from friends / family. The risk simply isn't worth the rewar
by watty 9y ago
This seems like terrible advice. I'm highly against borrowing money or receiving investment money from friends / family. The risk simply isn't worth the reward.
- ttul 9y agoUnless you're independently wealthy, F&F is often the only money you can get when you have no track record.
- paulddraper 9y agoI had a friend borrow money from his family for a business that didn't work out. It's a very uncomfortable situation.
- gsylvie 9y agoI think it's better to structure it as an equity investment, and to really make it clear to friends & family that they are buying a lottery ticket that will probably lose. Also, make sure the investors are people where you wouldn't be uncomfortable if they saw your company's annual shareholder reports every year for the next 20 years - both in the failure and mad success scenarios. An ex-spouse or potential ex-spouse perhaps not a good choice.