We raised $2 billion and went bankrupt. The idea was right — construction needs disruption. The execution was a masterclass in how not to do it.
We filed for bankruptcy with $6 million in cash. We had raised over $1 billion total. A billion dollars in, six million left, zero trucks on the road. That math is hard to explain.
I went bankrupt owing $36 million. You know what I learned? Money comes back. Hustle doesn't expire.
When a company goes bankrupt, there is always a price where it becomes a good investment. Always.
Bankruptcy is not failure. It is a legal process designed to give a company time to fix what is broken. The failure is refusing to use it when you should.
There are many legal issues in the bankruptcy process and restructurings, and understanding the different legal systems in Europe and Asia.