Wilkinson: Procrastinating on debt hedge documents cost $500,000
Andrew Wilkinson · The 2022 Milly Awards (#401) · Dec 29, 2022 · at 10:56
Andrew Wilkinson, co-founder of Tiny, shares his biggest financial loss of the year while discussing the impact of small percentage changes on large debt amounts.
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“And so these documents were sitting in our office and I was like, oh, I'll do it tomorrow. I'll do it tomorrow. I kept putting it off. And then finally I signed it. And I realized that between the time that I, it was sitting there for a week and in that week, the interest rate went up by like one percent. And that represented like 500,000 dollars or something insane. And so just me being lazy and not signing that document and not thinking in percentages cost me like 500 grand.”
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