Re:Wirecard is 'beyond salvageable,' according to analyst
by Barrin92 on Sunday June 28, 2020 @04:34PM
(#23671823)
>I would argue that businesses that were founded before bankruptcy law in 1898 were far more risky than modern ventures
For the individuals themselves possibly, not for the business model, because the high risk business model of today did not exist. In your own examples Both Ford and Edison worked on their inventions as a side hustle in addition to their regular jobs. They were not professional entrepreneurs when they worked on original inventions.
In fact this is almost necessarily true for any paradigm changing invention, it happens outside the status quo. As Schumpeter pointed out, as soon as someone is drawn into a formal mode of invention they're just replicating, not jumping ahead of what came before. Every truly important invention is entirely original almost by definition.
The defining feature of entrepreneurship today is that it is like a Keynesian beauty contest. You check a few boxes and we give X dollars for Y shares and we show you "how to do" entrepreneurship.
For the individuals themselves possibly, not for the business model, because the high risk business model of today did not exist. In your own examples Both Ford and Edison worked on their inventions as a side hustle in addition to their regular jobs. They were not professional entrepreneurs when they worked on original inventions.
In fact this is almost necessarily true for any paradigm changing invention, it happens outside the status quo. As Schumpeter pointed out, as soon as someone is drawn into a formal mode of invention they're just replicating, not jumping ahead of what came before. Every truly important invention is entirely original almost by definition.
The defining feature of entrepreneurship today is that it is like a Keynesian beauty contest. You check a few boxes and we give X dollars for Y shares and we show you "how to do" entrepreneurship.