How Can Small Businesses Handle Finances And Create Accountability?

Ryan Lucia, Founder of Such n Such Media & Aaron Overhead Doors. Ryan is an entrepreneur, speaker, podcast host and consultant. getty Why are so many big brands facing bankruptcy in recent times? Many people view big brands as indestructible in some sense. Even when they do fall, it’s not uncommon for the government to bail them out. There are many ways to fail as a business, but greed is a prevalent one in America these days. Let’s discuss a recent case of catastrophic failure. Crypto exchange company FTX became a largely successful venture. Founder Sam Bankman-Fried was even able to become one of the largest fund supporters of the democratic party and was seen advising the U.S. government on how blockchain and crypto work and how helpful they can be to people around the world. But recently, it’s all come crashing down. Where did it go wrong? FTX filed for bankruptcy (subscription required) on November 11, 2022, leaving millions of people out billions of dollars. It’s also come to light recently that Bankman-Fried had created multiple companies and was using customer funds to pay for his donations to the democratic party and condos in the Bahamas . The […]

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