
Startup generation ready to fix economy - msnbc.com - bgraves
http://www.msnbc.msn.com/id/43976881/ns/business-eye_on_the_economy/
======
antpicnic
We need to encourage entrepreneurs of all ages who want to start all types of
businesses.

For example, a friend of ours started a business creating fantastic pastries
and desserts for restaurants. Her company will never go public. But she
employs 8 or 9 people who probably never would be hired by a tech startup.

A couple of the big obstacles to starting a business need to be addressed:

1\. Healthcare - our friend wouldn't have started her business if she didn't
have coverage through her husband's employer. She couldn't afford the
financial risk.

2\. Intellectual property laws are a mess. Everyone on HN already knows about
the patent fiasco, but the continual and unjustified extension of copyright
law also presents an obstacle for some endeavors.

~~~
rick888
"She couldn't afford the financial risk"

If you are under thirty and single, you can get health care for $200 or less
per month, which is pretty affordable. There are also group plans for small
business owners.

~~~
rrwhite
Unless you can't get anyone to offer you coverage which is pretty common.

------
fleitz
If we want to save the economy it starts by congress realizing they allocate
capital poorly and should stop doing it.

"One element would be a program to forgive student loans and debt for young
entrepreneurs, which he says would address a major hindrance to recent
graduates who want to set up their own shop."

This is silly, either everyone owes their debts, or they don't. It's
tantamount to pushing your student loan debt onto everyone else and reducing
the risk that the lendee has by spreading it to everyone else. If you want to
have the reward of starting a business then you need to take the risk,
otherwise society should also get the profits from the business. (eg. when you
sign the document saying your loans are forgiven then the people get 90% of
their company because they are taking all the risk).

The idea that a Harvard grad should be bailed out by a person making minimum
wage so they can be risk free enough to start a business is ludicrous. If
someone was so stupid to agree to take on debts that can't be bankrupted to
the degree that they can't rent servers for free from Amazon, Google,
Microsoft, et al, then they deserve what they got coming to them. Bailing
these people out at 22 will lead to the next generation of too big to fail
companies that can't manage a balance sheet, nor understand the different
types of debt and the legal obligations that come with them.

~~~
sprovoost
I agree it would make more sense for the next generation of students to
seriously consider alternatives to certain overpriced educational
institutions.

On the other hand, with the printing press at maximum, now is a good time to
have debt.

