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Many times those credit cards are used to pay for basic living expenses and/or even to bootstrap the business. Having high cc debt does not mean they've been i
by nhangen 16y ago
Many times those credit cards are used to pay for basic living expenses and/or even to bootstrap the business.
Having high cc debt does not mean they've been irresponsible.
Seems to be a double standard here...
Founders are expected to pour every ounce of their life into the business, which means they can't work a 9-5 to pay the bills.
Yet having debt is considered a bad thing.
- tptacek 16y agoIncurring untenable credit card debt for basic living expenses in the service of bootstrapping a company that ultimately needs VC funding is prima facie irresponsible. I'm not condemning it (I haven't been absolutely responsible with my own finances), but let's not sugarcoat it either.