Bankruptcy and New Beginnings

A few weeks ago, Eva and I filed for bankruptcy as a result of the end of CubeSpace. The process has been a learning experience.

Bankruptcy is really designed to give one a new start, and seems to function that way. Having gotten into financial waters over one’s head, with no way out,  bankruptcy is an opportunity to declare a financial “do-over.” Almost all debts are wiped out, and one can begin again from a new baseline.

For myself and Eva, this really does give us a second chance. We have the opportunity to move forward from CubeSpace without deep debts incurred in the process of running CubeSpace, and the ability to continue our careers without being permanently hamstrung by debt. This process is designed to allow people to take business chances, and move forward if they don’t pan out.

This time of year, the Days of Awe, in the Jewish calendar, is a time of introspection, a time of new starts, and examining our lives, and where we are going. They conclude with Yom Kippur, the Day of Atonement, on which we are forgiven our sins from the previous year, and given a metaphorical “new beginning.”

The new beginning of bankruptcy and Yom Kippur coming at the same time is an interesting confluence of events. They reinforce each other’s messages, and create a strong sense of transition. It is a message I’m ready to embrace this year. I’m ready for a new beginning.


3 Responses to “Bankruptcy and New Beginnings”

  1. Alex Williams Says:

    Nice post. I wish you and Eva all the best. What’s next?

  2. AdamD Says:

    Thank you for sharing this with us. We owe our own debt to the two of you.

    New beginnings are exciting, as well as a little sad. Please continue to keep us in the loop.

  3. Peat Bakke Says:

    It sounds like you’re looking the situation from a great perspective. Bankruptcy sure beats debtors prison, indentured servitude, and/or a pound of flesh — we’ve come a long way, haven’t we? It may not be pleasant, but it’s civilized, and it’s a key part of fostering an entrepreneurial society that’s willing to take risks.

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