The success of LLCs is an example of the usefulness of taking skin out of the game.
-
This Tweet is unavailable.
-
Before LLC rasing capital for startup meant risking your family’s livelihood and perhaps debtor’s prison. After LLC entrepreneurialism and risk taking grew rapidly as did the benefits to society from the respective innovations
-
-
Umm...Before the LLC (and therefore for most of human history) debt was the preferred method of financing/rasing capital. The informational and enforcement costs associated with equity financing were insurmountable in ancient world. Debt financing was far simpler
-
It's also a completely different time period, and 'debt' is not the only thing an LLC protects you from. If you host any data (and it gets hacked) as a small start up and / or infringe on IP - you could lose everything you own. LLCs protect you from that.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.