4 ms·
Mom of 4 begging for SVB bailout
- nateb2022 4y agoRegardless of her particularities, I believe this is a risk all startups take. Profits are privatized, why should their losses be socialized? > The financial future of my company, team and family are at risk w/ the collapse of SVB This is a risk she took when she quit her perfectly well paying job: > My husband and I ran the numbers. Even though I was an equal wage-earner to him, I could quit my job and write the first $10K check to start Strongsuit. We could cover 18 months of no income from me. It was a huge bet for us. It had to work. With current levels of inflation, I doubt anyone in the bottom 50% of Americans have anywhere near $10k liquidity. Nor would I expect anyone in the bottom 70% to have enough savings to be able to live for 18 months without income. Is it fair to have them bear the financial burden of repaying your entrepreneurial losses?