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RE: When Too Much Money Leads To Bankruptcy (The Pay By Touch Story)

in Project HOPE • 6 years ago

Hi @gbenga

Finally I found some time to catch up with Steemit and read some publications posted within our community.

Indeed, way to much money can cause mismanagement of those money and this in result may end up with bankruptcy. I surely never heard about PBT. Thx for sharing with us their story. Interesting case study.

The company went on a hiring spree by employing more than 750 people which wasn’t necessary at the period

Part of the problem is that most investors expect to see some quict results. They want to see GROWTH. And opening new offices, new shops, signing new deals or hiring more people give impression of such a growth. So this is very common problem. Those who manage to raise money (especially if they raise more than they need) feel pressured to show any results at all.
So more often than not - they end up spending money like there is no tomorrow. Wouldn't you agree?

Upvoted already,
Cheers, Piotr

6 years ago in Project HOPE by
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