Don’t personally guarantee your startup

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Quoted: Don’t personally guarantee your startup

Based on their literature, Paintbrush provides a $50,000 loan with a very low-friction application and a fast decision. But the total repayment amount can be as much as $75,000, tied to a personal founder guarantee. That means that if your startup doesn’t work, you as a founder are required to pay that amount back at an amount pegged at 15% of your pre-tax income. For example, if your total income was $150,000, you would pay back $22,500 a year. That amounts to around 22% of what your post-tax takehome pay would be before payments like health insurance and rent.

So basically this is all of the downsides of traditional VC with none of the upsides. Yeesh.

In traditional VC, it’s the investors who are taking the risk of funding the company. This scheme is doing none of that and is instead what amounts to a payday loan.

💬 Re: Internal blogging tools

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In reply to: Re: Internal blogging tools

Ben Werdmuller posed a question:

If your company gives its employees a space to blog or journal internally, what platform do you use? What do you think of it?

eg: Confluence has blogs; at Medium they have a whole internal version of the site called Hatch; etc.

Back in the day, Amazon had an internal Movable Type site for internal blogging purposes, although it went mostly unused. When I returned for a couple years in 2012 it was still there although even more completely unused. I posted a couple more entries on it that nobody saw as far as I know.

Nowhere else I’ve worked has had formalized internal blogging (although a couple places had public blogging platforms that were mostly used by marketing folks), although a lot of people certainly would treat Slack as their personal blog.