What I find is that there actually are not that many poor business ideas. Businesses fail through poor business practices that are nearly universal. Outside of freak incidents – such as medical events, or something like the period during Covid 19 for a couple of years, business failures often have common factors. 1. Overspending on the unnecessaries. Attorneys and doctors are particularly notorious about overspending on expensive cars, nice offices, etc, particularly early in their careers. I have seen multiple incidents where cash flow was good, but too many bills on the frivolities. 2. Underspending on the essentials. Penny pinching as a business owner is often necessary, but you have to do it in the right way. 3. Poor financial management. When a check comes in, it should automatically be deposited, logged, and the money assigned to a purpose. What I find for failed businesses is that when money is flowing fast and easy, it can cover a ton of bad practices that may not become evident until times get tight. Good, automated financial processes are essential. Good businesses have a fighting chance in hard times with good practices. 4. Short-term thinking. Going cheap on something in the near term could be more costly in the long run. While there is a necessary balance here, being cheap as policy is part of the recipe for failure. I think I see this particularly for technology. 5. Improper debt load. Getting too little debt to grow properly can be as big a mistake as taking on too much debt to cover nonessentials. While leverage may be necessary, some businesses are married to the idea of leverage for every purchase.

So, my current AI story - have 2 debtors - one in NM, one in PA, trying to get around our judgments by feeding things into AI. I think one has a lawyer assisting. Both lost Why? Because we have all the proper documentation. AI is a good tool IF the other side doesn't have their ducks in a row. Which we do.

okay, @tingFTW I need nelp. Got a new phone - Sonim XPS, with a good imei (t-mobile). New SIM card from you won't activate it. Already called customer service, no luck.

Quick Ponzi scheme story. The first package of loans I worked on was a pool of judgments obtained by a trustee when the ponzi scheme perp was forced into involuntary Ch7 bankruptcy. Everyone who participated was required to show up. If you didn't, you got sued. Ponzi scheme participation IS guilt. The money comes from someone else. Decent people got judgments against them.

Fun bit on my reselling business - bought 3500 books back in June. 13 YO son helped me load and transport. I offered him $100 for the job. He said no to that - wanted 5%. He's already got about $200 off of this deal.

Beginning of June I bought 3500 old books from former antique dealer. About 500 went to thrift store, not worth reselling. Phase 1 was looking them all up. Phase 2 is done. About 600 total listed on ebay. 200 sold so far. Investment almost doubled.

DANGIT. I just got a "Per my previous email."

TILL ALL ARE ONE. ROLL OUT

Happy day. CA debtor didn't file anything so the in-person mediation got canceled.

RIP Dolly.

Heading from GA to CA in a couple of days...for a MEDIATION that requires principles to be there IN PERSON. No way out of it. High probability the debtor doesn't even show. It's basically a 3 day trip that I am going to have to do TWICE....because there is still the trial.

Won the court case. Debtor/defendant didn't open mail. Said "unfair." Consistently late with all filings.

About to do a hearing with a pro se defendent (civil case) who filed everything late.

It's about to get VERY interesting for cheap clothing sellers with the new ground advantage pricing.

Just got hit with the new ground advantage increase. $9+ on a 3 oz package with a couple small figs that I sold for $7. No money to be made anymore on non-book items under about $12. @USPS

Lawyers - you have less room to whine about clients if you are not communicating expectations of when something is going to happen.

The worst call of the USA game wasn't the red card. It was the stupid offside call that took points off the board. There should be NO offside in soccer with play that close to the goal.

I also sell a ton of books on ebay. Just scored a LITERAL ton from antiques dealer. Most of the books are $5-$10 in value. I'm finding that a ton of them are for sale as reprints, or at elevated prices by sellers hoping someone REALLY wants that book. No sales in last 90.

Hey @elonmusk Just grabbed 5 shares. Let's see how it goes.

Trucking industry for those guys who were independent operators barely making it and maybe even bankrupt is about to get REAL interesting.

Hey #lawtwitter - mediation is dumb and a waste of time. Call and email people, and provide relevant information. Gets it done in 1/4 of the time and for less hassle.