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> The most trifling Actions that affect a Man’s Credit, are to be regarded. The Sound of your Hammer at Five in the Morning or Nine at Night, heard by a Credito
by jeremydeanlakey 8y ago
> The most trifling Actions that affect a Man’s Credit, are to be regarded. The Sound of your Hammer at Five in the Morning or Nine at Night, heard by a Creditor, makes him easy Six Months longer.
> never keep borrow’d Money an Hour beyond the Time you promis’d, lest a Disappointment shuts up your Friends Purse forever.
> the good Paymaster is Lord of another Man’s Purse. He that is known to pay punctually and exactly to the Time he promises, may at any Time, and on any Occasion, raise all the Money his Friends can spare.
> Creditors are a kind of People, that have the sharpest Eyes and Ears, as well as the best Memories of any in the World.
Credit scores have replaced reputation and credit has become very impersonal. Interestingly, most of this seems more applicable than ever... with the exception of banging your hammer at 5 am.
- mcguire 8y agoMaybe, but not in all environments. It would be interesting to update these for the VC economy.
- alehul 8y agoThe above is a debt investment, whereas VCs are generally looking at equity investments. These are fairly different in principle and strategy, and both have history dating back many hundreds of years.
- mcguire 8y agoYes, but. You don't have to pay back the money, but you do have to be seen working hard. You have to maintain good relations with your funders. The principles are the same.
- ibeckermayer 8y agoFantastic point. Credit scores allow for greater “efficiency”, but don’t necessarily capture all the relevant information. There is a common problem of seeing quantitative measurements as “more objective” than qualitative evaluations, but this is oftentimes naive. Notice that many of the best VC’s focus on the individuals and group dynamics of the founding team, something that can’t be captured quantitatively. “Giving someone no map is much, much better than giving him a wrong map.” — Nassim Taleb
- anitil 8y agoSome of us have been known to schedule emails early or late, CC'd in to people who matter for just that first point...