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Yeah - wow, I can't tell if I admire the entrepreneurial spirit or pity these people for taking such a blatant risk. Numbers where I am are hitting record highs (though they were previously relatively low).

They service low interest debt and a lease price locked in for 10 years

Distribution of failure probably won’t be worse than before for new entrepreneurs

People with money or access to capital are in a different world than people without

The difference is risk. If I take a risk like that, I end up living with my parents. They just fail and move on to the next failure, or a success.

Yep, there is a survivorship bias because they get to try multiple times in quick succession, compared to once every ten years, or just once, or never.

It's over. There will also be no appetite for another lockdown.