Steve Benson
๐ค SpeakerAppearances Over Time
Podcast Appearances
That's like the perfect thing to do with debt.
What I've always done is I've basically had five extra engineers because I've had this debt.
And I've had them for, since 2015, right?
The team's always been five extra engineers bigger because of debt.
So, you know, and frankly, you know, early on I would have had, I had seven engineers instead of two, so it was super material.
Now it's less of a big deal, but engineers is actually still a big deal.
You get a lot more done.
So even today, you know, this stuff is super useful.
Um, so the terms on the scale works deal was a four year deal, 17% APR.
So a little better still for a year.
We should talk about terms as well.
The problem with a shorter term loan is it creates a ton of risk because
They don't in a lot of the debt providers that make loans to SAS companies want to do like a year or 18 months super risky because I mean, especially right now as we're seeing like the finance markets not stable, right?
Like you can you can very easily run into a circumstance where the interest rates are going up and they don't want to do another deal or think they feel things get risky.
If you're if you're counting on that money because you've made a longer-term investment and almost all the investments we're going to make or at least
a year and a half, two years payback.
And you need a time horizon longer than your actual payback or else you're basically just putting the money back in that you borrowed, right?
You need time.
All our costs are, for the most part, monthly costs.
And so you need to take the money in,