Conversation

Jesse Powell
@jespow
Why is there outrage over well-run, profitable companies taking federal COVID loans? Just because they have cash in the bank doesn't mean they're not affected. Wouldn't it be unfair to only give the loans to those who weren't prepared?
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Gondee
@0xGondee
The feeling is they got them at the expense of real small businesses. Which to this point is a true statement. Additionally situations like the airlines where only 1/3 of it will be repaid is seen as a handout.
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Jesse Powell
@jespow
Anyone who gets free money gets it at the expense of everybody else who didn't get the same free money. You have to attempt to take it for dilution protection.
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Gondee
@0xGondee
Understood. But that is still the attitude and feeling amongst people. For example shake shack has 2 years revenue in cash, yet it gets a PPP loan for its 6k employees. It didn’t need it, but it still skipped the unending line of small business that is waiting
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Gondee
@0xGondee
We can’t forget that the government mandates this close, but is also optically picking who gets to survive. Those picked are a result of the structure of capital markets (something many were already skeptical of being corrupt/manufactured). That’s how I see it. I takeityoudonot?
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