this post was submitted on 06 Dec 2024
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Showerthoughts
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The consequences increase.
You know the saying: "if you owe 100 to the bank, then you have a problem, but if you owe 1 000 000 to the bank, then the bank has a problem"
For a regular person, this translates into being able to pay off 100 by working hard, but owing 100 000 is a lot harder to work off, so they'll need alternative solutions, like selling the car.
Financially speaking it's the difference between a profit/loss statement and a balance sheet. Once you have enough money, P/L doesn't matter in comparison to the balance.
Someone like Elon Musk stating that he doesn't have any money to pay is playing on this. He's all balance and no profit.