Skip to main content

Credit cards as funding for entrepreneurs

Credit cards are a risky way for entrepreneurs to acquire capital for their startups when more conventional financing is unavailable. Len Bosack and Sandy Lerner used personal credit cards to start Cisco Systems. Larry Page and Sergey Brin's start up of Google was financed by credit cards to buy the necessary computers and office equipment, more specifically "a terabyte of hard disks". Similarly, filmmaker Robert Townsend financed part of Hollywood Shuffle using credit cards. Director Kevin Smith funded Clerks in part by maxing out several credit cards. Actor Richard Hatch also financed his production of Battlestar Galactica: The Second Coming partly through his credit cards. Famed hedge fund manager Bruce Kovner began his career (and, later on, his firm Caxton Associates) in financial markets by borrowing from his credit card. UK entrepreneur James Caan (as seen on Dragons' Den) financed his first business using several credit cards.

Comments

Post a Comment

Popular posts from this blog

Cryptocurrencies and Blockchains

With the increasing adoption of blockchain technology, the role of an accountant will change but not be eliminated. Think of mechanics. You still need the mechanic, but the mechanic will have new things to learn. The new technology will let accountants spend their time on the highest leveraged activities. Consider the role before Excel. People thought Excel would do our work for us, but it didn’t. But it is a better spreadsheet and made the job easier. Technology is changing at an exponential rate. Ignorance and apathy will put the slower movers at a disadvantage. It is expensive and it is complex, but if you don’t experiment with it, you will be in danger of falling behind. Now, remember when you first saw the internet? What about when you received a PC or a laptop? It is just another tool. It is a new tool that will change the role but not to make it obsolete. Those accountants who can embrace new technology, AI and blockchain will be well ahead of the game.
Post a Comment
Read more

GPU price rise

     An increase in cryptocurrency mining increased the demand for graphics cards (GPU) in 2017. (The computing power of GPUs makes them well-suited to generating hashes.) Popular favourites of cryptocurrency miners such as Nvidia's GTX 1060 and GTX 1070 graphics cards, as well as AMD's RX 570 and RX 580 GPUs, doubled or tripled in price – or were out of stock. A GTX 1070 Ti which was released at a price of $450 sold for as much as $1100. Another popular card GTX 1060's 6 GB model was released at an MSRP of $250, sold for almost $500. RX 570 and RX 580 cards from AMD were out of stock for almost a year. Miners regularly buy up the entire stock of new GPU's as soon as they are available. Nvidia has asked retailers to do what they can when it comes to selling GPUs to gamers instead of miners. "Gamers come first for Nvidia ," said Boris Böhles, PR manager for Nvidia in the German region.
Post a Comment
Read more

The laws

  The fundamental Wiio's law states that "Communication usually fails, except by accident". The full set of laws is as follows: 1. Communication usually fails, except by accident. 1. If communication can fail, it will. 2. If communication cannot fail, it still most usually fails. 3. If communication seems to succeed in the intended way, there's a misunderstanding. 4. If you are content with your message, communication certainly fails. 2. If a message can be interpreted in several ways, it will be interpreted in a manner that maximises the damage. 3. There is always someone who knows better than you what you meant with your message. 4. The more we communicate, the worse communication succeeds. 1. The more we communicate, the faster misunderstandings propagate. 5. In mass communication, the important thing is not how things are but how they seem to be. 6. The importance of a news item is inversely proportional to the square of the distance. 7. The more impor...
Post a Comment
Read more