Yea, the functioning/viable business piece has a place in this discussion. I can understand why the author wouldn't include it but it serves us here. To take on

Yea, the functioning/viable business piece has a place in this discussion. I can understand why the author wouldn't include it but it serves us here. To take on debt like mentioned, you have to have some confidence in the business model and not be searching for product/market fit like many early-stage companies. If you already have cash flow then you can leverage it.