By Larry Chiang
The system is set up to give you enough rope to choke yourself. Wealth is soooooo tough to create that institutions rely on eventual default. Even if business is really good, you could be close to bankruptcy because of cash flow.
Well business right now is bad.
“You know all those small businesses going bankrupt? Guess who’ll be buying up the equipment and resources on the cheap? Those with access to cheap loans from the government: banks/big corps
This is how people get screwed out of their blood, sweat and tearsâ€
Cycles that occur in the economy are engineered. When the market hits the skid. All of your seat equity gets taken
History repeats pretty often
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Jimmy Song (송재준) (@jimmysong) |
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You know all those small businesses going bankrupt? Guess who’ll be buying up the equipment and resources on the cheap? Those with access to cheap loans from the government: banks/big corps
This is how people get screwed out of their blood, sweat and tears #Bitcoin fixes this |
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The number one way to avoid this is to save money and build a high credit score so that your cost of renting money is cheap
Chapter 2 of What They Don’t Teach You at Stanford Business School is TREASURE MANAGEMENT
https://www.youtube.com/watch?v=ejeIz4EhoJ0
Timing your career to coincide with up and down markets is “Lec 19; #ENGR145†which I expanded and forked out to be #cs183vc. 20 YouTube lectures about timing
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