RE: When Money Is Cheap Idiots Become Entrepreneurs
They are by no means the only problem but they are a massive problem because they reduce barrier to entry for ideas, gobble up capital and human resources to be wasted on shit, they are effectively zombie companies too. they also discourage potential entrepreneurs since funding isn't based on merit but nepotism.
It's a bigger problem than we think, but since its all kept in the shadows you don't see how bad it is, many of these business models aren't based on profit but profiting from the fact that if they remain open long enough the inflation rate will erode their debts while they go after a large enough market, consolidating as they go and killing profitable businesses in the process
Posted Using LeoFinance Beta