3 ms·
"It should also be noted that even an entrepreneur who has failed to get rich by the end of the four year can resort to taking a job at a big company. One year
by gcheong 18y ago
"It should also be noted that even an entrepreneur who has failed to get rich by the end of the four year can resort to taking a job at a big company. One year of that will pay off most of the loan, and will allow him to take a separate loan from the bank to cover the rest."
So, if in one year your hypothetical recruit could pay off the majority of this $100000+ %20/year loan, why wouldn't they just work for one year at big co, save a bunch of money and then quit to do the startup?
- cool-RR 18y agoA year is a very long time to lose, in my opinion. That's why I wouldn't do it. But for a worst-case scenario, I find it acceptable.
- gcheong 18y agoI'd be interested to know what your assumption is of net income this person would have to receive in order to be able to pay off the majority of the loan in 1 year.