4 ms·
Hmmm. I have over half a million dollars in electronic components and custom assemblies sitting in storage pretty much rotting away. A market shift made the p
by robomartin 12y ago
Hmmm. I have over half a million dollars in electronic components and custom assemblies sitting in storage pretty much rotting away. A market shift made the project and the product almost impossible to sell.
All employees were paid on exit, including generous severance pay, etc. All of them found employment relatively quickly. A number of them were able to parlay the experience gained during the couple of years they worked for me to gain higher level jobs. One particular individual came in with very little experience in the field. I spent over a year tutoring him. He was able to get a VP position at a competing company within a week after we closed the shop.
My? I nearly lost everything. Probably took a million dollar hit (don't know exactly how much yet) and have components and supplies in storage that I paid half a million dollars for that you might be able to sell for less than five cents on the dollar.
Be careful making assumptions about who risks more based on silly examples like some guy flipping burgers at a fast food joint. Things often aren't that simple. I know one entrepreneur who died due to the stress of his business tanking during the economic collapse of 2008. His employees moved on just fine.
Yes, these are extremes. And, yes, these cases might not compare well when we are talking about billionaires. Don't know. From my perspective few people are willing to do the kinds of things I do: Put it all on the line. All. Take a huge risk. And if it pays off you reap the rewards and live to have someone call you a greedy bastard. If you fail miserably nobody gives a crap. They might even call you an idiot and malign you for firing a bunch of people without much notice.
Walk in someone else's shoes before being opinionated. Reading about something on the net is very different from living it. Don't think so? Go SCUBA diving with sharks. I've done it. Pissed myself. Multiple times. Easy to read and sound really smart about on the 'net. Not so when you are 100 feet under water with five of them surrounding you.