HOW I THINK ABOUT DEBT

Summary from the TLDR Founders newsletter

Japan is home to 140 businesses that have survived for over 500 years, with some even surpassing the millennium mark, demonstrating remarkable resilience through numerous adversities such as wars, natural disasters, and economic downturns. These enduring enterprises, known as "shinise," typically maintain substantial cash reserves and avoid debt, a strategy that has enabled them to navigate centuries of volatility and maintain operational continuity across generations.