Basketball is a bad analogy. Life is not a game played for points where the “loser” is the one with just one less point than the “winner.”
I would lean in more on bankruptcy. Bankruptcy should not be used as a strategy in business: run 10 risky businesses and bankrupt 9 of them to stem your losses while getting lucky with the 10th. In one sense, your creditors are fools for continuing to deal with you after you have demonstrated a pattern of serial bankruptcy, but that doesn’t stop the harm you are doing to all the creditors of your bankrupt business (like: unpaid employees, suppliers, etc.) who didn’t get a whole lot of option to not do business with you, or opportunity to research your credibility before accepting your promises to pay.
Sociopaths would say: it’s a clearly precedented legal maneuver, it’s “smart business” to take advantage of bankruptcy laws, screw the creditors, they took a risk and it didn’t work out for them. I would say that bankruptcy laws need to become more aggressive about protecting creditors from harm, especially when dealing with “fake people” corporations.
Basketball is a bad analogy. Life is not a game played for points where the “loser” is the one with just one less point than the “winner.”
I would lean in more on bankruptcy. Bankruptcy should not be used as a strategy in business: run 10 risky businesses and bankrupt 9 of them to stem your losses while getting lucky with the 10th. In one sense, your creditors are fools for continuing to deal with you after you have demonstrated a pattern of serial bankruptcy, but that doesn’t stop the harm you are doing to all the creditors of your bankrupt business (like: unpaid employees, suppliers, etc.) who didn’t get a whole lot of option to not do business with you, or opportunity to research your credibility before accepting your promises to pay.
Sociopaths would say: it’s a clearly precedented legal maneuver, it’s “smart business” to take advantage of bankruptcy laws, screw the creditors, they took a risk and it didn’t work out for them. I would say that bankruptcy laws need to become more aggressive about protecting creditors from harm, especially when dealing with “fake people” corporations.