Re:Learning The Elite Class
by lostdog on Saturday July 16, 2022 @04:53PM
(#32121864)
...with a mortgage, and the house tends to maintain value. They don't have that kind of money lying around to throw into a risky business.
[ Parent
| on HN ]
Re:Learning The Elite Class
by WalterBright on Saturday July 16, 2022 @06:38PM
(#32122601)
Not being willing to take the risk is very different from cannot raise the funds.
$300,000 is simply not an outsize amount of capital to start a business. People do it all the time. Expect to put out $1.3 to 2.3 million to start a McDonald's franchise, and those are everywhere. (Other franchises are less expensive, not more.)
The idea that one has to be rich to raise $300,000 is simply not true.
The ratio of people I've met who've taken out a mortgage to the number who've taken out a house-sized business loan must be well above 10,000:1. It's not clear that you're arguing from any basis in reality to suggest that they're the same in any way.
Re:Learning The Elite Class
by WalterBright on Saturday July 16, 2022 @09:10PM
(#32123457)
That's why those 10000 do not create Amazons. It's not that they cannot. It's that they will not.
It's like Bob and Ted have an equal financial position.
Bob: I just borrowed $10,000 and put it into Bitcoin!
Ted: Haha, you fool, that's so risky!
--- 5 years later ---
Bob: My bitcoin is now worth $1,000,000!
Ted: That's sooo unfair!
And remember, Bezo didn't have $300,000 either. He borrowed it.