Is There a Lesson for Economies and Entrepreneurs to Learn from Bankruptcy?
by
Davidvictorson
on 23/02/2023, 15:51:34 UTC
According to this news article, there was an increase in the number of individuals and businesses who filed for bankruptcy by 20% in January from a year ago.
Some companies that have filed for bankruptcy are: -Voyager Digital - Revlon - Three Arrows Capital - Cineworld Group - FTX Trading - BlockFi - Celsius Network
Why did they file for bankruptcy? - rising interest rates - high inflation - Difficulty hiring - ongoing war in Ukraine
With all these things going on, I have been thinking to myself, "Is there an opportunity here?" Entrepreneurs have been characterized as people who can think outside the box. Steve Nickles, a law professor at Wake Forest University, has already said that "bankruptcies leave gaps for entrepreneurship." What do you think the opportunity is here?