A friend raised funds to launch a startup last year. No credit. Simple capital for equity from many small investors using savings. That is maybe the move that Saif is saying will become the norm. Under that paradigm, is credit truly required?
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Raising funds by selling part of the company is still credit
How are you going to raise funds to buy a car? A house? Start a proper business?
Dunno. I worked for it, saved, bought car. Saved and bought the house I could afford. Only credit card I ever had was when I was working in countries with civil wars and stuff going on in case I needed a quick flight out. Never used a credit card and haven't had one for 25 years. I do get that credit can be useful and did have to take a small student loan but it is possible much of the credit based dynamic is less relevant in a more stable price environment under hard money. Dunno. Not an economist so I might be full of shot!