This is (regrettably) common at poorly capitalized companies, as employees are the biggest expense and as making payroll on time every single time requires discipline. You have to make payroll, on time, every time. That is the only expense for which this is true.https://twitter.com/Austen/status/1085553659738378241 …
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Yeah, I was wondering as I posted it if I could back that up. Seemed intuitively obvious, but potentially incorrect.
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You’re historically or aspirationally right but the consumer credit industry basically found that income verification is harder on the scale of the economy than FICO scoring and less predictive of default, so it has fallen out of favor for much consumer underwriting.
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