[ExI] I Miss The King of Extropia

[Stephen Van Sickle]

Capital can be raised by sale of equity.  Debt can be convenient, but is
hardly necessary.

On Jul 20, 2016 5:51 PM, "John Clark" <johnkclark at gmail.com> wrote:

> On Wed, Jul 20, 2016  PM, Stephen Van Sickle <sjv2006 at gmail.com> wrote:
>
> ​>> ​
>>> And without debt you couldn't have capitalism.
>>>
>>
>> ​> ​
>> Why not?
>>
>
> ​
> Capitalism is about capital,
> ​
> If I invent a brilliant new
> ​
> widget
> ​
> I'm going to need capital to mass produce them, so if I don't have the
> capital
> ​to do that ​
> I'm going to have to borrow some. And if I borrow something I'm going to
> have to give it back
> ​,​
> and that means I've incurred a debt. Without debt Silicon Valley wouldn't
> exist, even renaissance Italy wouldn't have existed without its banks.
>
> ​ John K Clark​
>
>
>
>
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