Re:Startups are pummeled in the ‘great unwinding’
by lifeisstillgood on Sunday April 05, 2020 @03:55AM
(#22784387)
Governments (like the UK here) are trying to borrow then lend money to business like that so that at the other end of this, they can just return to normal.
But honestly I think it's too complex to attempt. Perhaps some form of managed debt jubilee will work "no rent for six months" or something. but the unintended consequences will be huge.
Good luck to your friend
Edit: we should probably focus on the areas that can be easier made whole - finding landlords with extant contracts and just paying them for the contract will be easier than getting their tenants paid, finding businesses with employment contracts easier than paying individuals...
Re:Startups are pummeled in the ‘great unwinding’
by JimTheMan on Saturday April 04, 2020 @10:26PM
(#22783245)
Out of curiosity, would you be able to elaborate on the type of practice?
I wouldn't imagine they are a GP? This crisis would increase their traffic. Cosmetic surgery?
Re:Startups are pummeled in the ‘great unwinding’
by hn_throwaway_99 on Sunday April 05, 2020 @12:30AM
(#22783741)
This crisis is hitting medical practices incredibly hard, given that all non-emergency procedures are canceled (by law where I live). You seem to be implying by saying "cosmetic surgery" that it's just personal, cash-pay procedures, but that's totally wrong. Primary care, pediatrics, radiology, sports medicine, dermatology, on and on - they're all getting killed by this.
Re:Startups are pummeled in the ‘great unwinding’
by JimTheMan on Sunday April 05, 2020 @10:31PM
(#22790446)
Just trying to have it make sense in my head. Surprised primary care numbers are down. Had that in my head as essential.
Re:Startups are pummeled in the ‘great unwinding’
by mikeyouse on Saturday April 04, 2020 @11:20PM
(#22783489)
Shelter in place means shelter in place -- almost all non-essential procedures have stopped, where "essential" has varying degrees of severity depending on where they are. I personally know of cardiology, oncology, and internal medicine groups who have basically cut their businesses by 90% to keep people at home. It's not safe for their staff or for other patients to continue normal operations.
Re:Startups are pummeled in the ‘great unwinding’
by postingawayonhn on Saturday April 04, 2020 @11:28PM
(#22783524)
At least where I am (Australia/New Zealand) I have been hearing that GP visits are way down. I think people are trying to avoid the health system as much as possible and are therefore putting off any appointments that are not critical.
A friend’s medical practice will implode April 30... their business is down 90% and they won’t be able to pay rent or the employees. They are only staying open in hope for some sort of aid or debt jubilee. The partners will lose pretty much everything.
People with cash aren’t going to keep plowing money into startups, they are going to buy depressed assets. Every leveraged real estate company will be broke in 90 days or less.