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A comment on Canoo spent double its annual revenue on the CEO's private jet. Parent comment
If you are the sole owner, that's all fine.
If there are co-owners, that shouldn't be done unless everyone gets some benefits.
I once worked for a company that went bust. It wasn't able to pay its suppliers anymore, but alway paid rent on time. Guess who owned the building.
So especially when your company is doing bad, any money you get out is money they cannot take away.
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If you are the sole owner, that's all fine.
If there are co-owners, that shouldn't be done unless everyone gets some benefits.
I once worked for a company that went bust. It wasn't able to pay its suppliers anymore, but alway paid rent on time. Guess who owned the building.
So especially when your company is doing bad, any money you get out is money they cannot take away.