Comment by jhghikvhu
2 months ago
It's your fault for lending money rather than asking for a % of profits (if any) like a normal early investor.
2 months ago
It's your fault for lending money rather than asking for a % of profits (if any) like a normal early investor.
I tend to think having fiscal responsibility, morals and not being a shyster as the person who’s at fault.
Never loan money to friends is like “having money 101.” You can gift it or you can invest it with appropriate caveats given to any external investor, but never lend it.
This is common advice because it turns good relationships bad, that manifests as viewing former friends as shysters
Not everyone is like that, though some certainly are.
I've personally lent money to friends when they needed it, and been paid back once they got stuff sorted out.
Though in my younger days I was far less careful, so lending money did indeed go poorly.
2 replies →
Never lend what you would not happily consider a gift.