4 ms·
Semantics. If the hobby business never makes a profit and is capturing losses for tax benefits, that’s a failing business. It can be failing indefinitely as lon
by cobbzilla 4mo ago
Semantics. If the hobby business never makes a profit and is capturing losses for tax benefits, that’s a failing business. It can be failing indefinitely as long as there’s money to support it, but you can’t call it a successful business.
- GJim 4mo agoYou appear to be suggesting that fun hobbies which don't make money are a 'failure' rather than a success. Not everything is judged by how much money it makes. Have you ever wondered why kids climb trees?
- williamdclt 4mo agoIt's really not that deep: they're characterising the business, you're characterising the hobby. The owner having a good time doesn't make it a successful business. A failing business can be a successful hobby, sure, that's still a failing business.
- scrubs 4mo agoThis wasn't a hobby. At least the head engineer and sales persons were constantly stressed by flagging sales and lack of customer acceptance.
- cobbzilla 4mo agoIt wasn’t a hobby for them but it still may have been a hobby business for the founder. Rich dude LARPing tyrant CEO or Steve Jobs imitator is common.
- KingMachiavelli 4mo agoDoesn't running consistent losses eventually cause tax issues with the IRS? If the losses are offsetting profit elsewhere, I would assume the IRS would become very interested in challenging the validity of the hobby business?