BANKRUPT

Dog-walking community app opened · BANKRUPT after 2 yr 8 mo

Ahn Geon-woo, 37 · 2 yr 8 mo

“I forgot to pay myself. For 2+ years. 💀”

Debt of ₩4,213,712. Bankruptcy. And I am still alive.

The court's decision arrived. The personal rehabilitation process began. Cash -₩4,195,718, debt ₩4,213,712, 0 employees, 619 customers. Your phone filled with creditors' numbers. You are still alive. This simulation ends here, but your life does not.

How it went

1. 2026 · preparing to openAhn Geon-woo, 35. You have decided to try starting a company in Other regions. No idea, no product yet. Savings ₩97,190,000, employed (₩1,820,000 a month).
2. Debt from day onePersonal debt: ₩250,000 a month for 117 months. It comes out regardless of the company.
3. 12/2026: what now?Start a business: «Dog-walking community app» — You are going with «Dog-walking community app». Still no company, no product. Now find out whether the idea is real.
4. 2026 · year 1 beginsChinese Demand Cooled · US Rates Rose Again
5. 12/5 · The exchange rate pushed up import billsThe KRW/USD rate rose to 1,376. Servers and subscriptions billed in dollars cost more.
6. 12/29 · Your mentorLunch with an old mentor. “Forget the numbers. Are you sleeping?”
7. 1/2027: what now?Interview 20 people — 11 of 20 said they would pay. 1 only said it would be "nice to have".
8. 1/6 · A baby arrivedYou and Ha-yun welcomed a baby. Up three times a night. Living costs went up by ₩400,000 a month.
9. The baby is hereHire help — The helper arrived. Four hours of unbroken sleep, finally.
10. 2/2027: what now?Decide to build it — You decided to build. Validation ends here.
11. 2/6 · Funding costs rose againThe US 10-year yield rose to 5.54%. Investors recalculated valuations, and the bank asked for more collateral.
12. 3/2027: what now?Hire an agency — You signed. The developer said "two months, tops", and you believed it.
13. 3/27 · FamilyYou talked with your family for a long time. Someone said, “You come before the money.”
14. 3/13 · An outbreakAn outbreak is in the news every day. People are staying home.
15. 4/2027: what now?Keep building — You crossed three lines off the list. Two new ones appeared.
16. 5/2027: what now?Keep building — Another month the same way. Progress crept up.
17. 5/15 · A competitor movedA big company bolted a similar feature onto its product, free. More customers now ask, “How are you different?”
18. The agency wants more moneyAccept the extra cost — You signed the revised quote.
19. 6/5 · Back to normalThe restrictions are lifted. People are slowly coming back out.
20. 7/2027: what now?Keep building — What you built today, you fixed tomorrow. Progress still went up.
21. 7/29 · The agency deliveredThe agency handed over the build. You paid the balance of ₩24,080,000.
22. 8/2027: what now?Launch — You pressed launch. 94 sign-ups on day one. You refreshed ten times.
23. 8/3 · A signal from your bodyYour chest felt tight, so you went to the emergency room. The result was “overwork.”
24. 8/10 · Your mentorYour mentor sent a link to an article. “This sounded like you.”
25. The “₩20,000,000 a month or your money back” courseBlock the ad — You block it and another account posts the same ad. The money is still in your account.
26. 9/14 · Funding costs rose againThe US 10-year yield rose to 5.54%. Investors recalculated valuations, and the bank asked for more collateral.
27. 9/25 · Service outageRight after the deploy, login broke. Restored in forty minutes, but customer messages flooded in.
28. 10/2027: what now?Spread the word through communities and content — 30 new customers this month. While the number climbs, it looks like a company.
29. 11/2027: what now?Keep going — Spread the word through communities and content — 20 new customers this month. A post drew questions, and the questions turned into sign-ups.
30. 11/16 · Down sickYou came down with something. You took medicine and pushed through, but could not concentrate.
31. “We just need your name on it”Send them away — They left a card: “Call if you change your mind.” There was no company name on it.
32. Chinese Demand CooledA prolonged slump in Chinese domestic demand and real estate lowered Asia's export outlook. Clients who bought raw materials cut orders, and domestic consumption turned cautious as well.
33. US Rates Rose AgainSignals of Fed tightening strengthened the dollar, and this country's funding rates followed. When the KRW/USD rate jumped, costing got complicated again for anyone buying imported ingredients or parts.
34. Year 1 closeRevenue ₩928,387, loss ₩13,079,346. Cash ₩33,140,654.
35. 2027 · year 2 beginsSecurity Incident · Rates Rose
36. 12/11 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
37. 12/13 · Covered in an articleAn industry outlet wrote about the product. Sign-up inquiries rose a little.
38. 1/2028: what now?Keep going — Spread the word through communities and content — 34 new customers this month. Among the new names were people last month’s customers had sent.
39. 1/21 · Security vulnerabilityAn outside researcher reported a vulnerability. You have to check whether personal data leaked.
40. 2/2028: what now?Keep going — Spread the word through communities and content — 49 new customers this month. While the number climbs, it looks like a company.
41. 2/20 · A competitor movedA competitor shipped the feature you were preparing, first. Their price is lower.
42. 2/22 · Global growth forecasts fellWith the IMF and World Bank forecasts diverging, global growth came down to 1.6%. Replies to overseas inquiries got slower.
43. AI redrew the marketIgnore it — You did not buy the tools. Six months later, a competitor offered the same service at half the price.
44. 3/30 · Service outageRight after the deploy, login broke. Restored in forty minutes, but customer messages flooded in.
45. 4/2028: what now?Keep going — Spread the word through communities and content — 49 new customers this month. A post drew questions, and the questions turned into sign-ups.
46. 4/4 · The exchange rate pushed up import billsThe KRW/USD rate rose to 1,356. Servers and subscriptions billed in dollars cost more.
47. 4/13 · Your mentorAn old mentor called. “What scares you most right now?” they asked.
48. 5/2028: what now?Keep going — Spread the word through communities and content — 9 new customers this month. Among the new names were people last month’s customers had sent.
49. You are short of moneyHold on — Instead of a loan you opened the household budget. No more eating out; repairs that could wait, waited. Holding on needed a plan too.
50. 6/21 · A signal from your bodyYour chest felt tight, so you went to the emergency room. The result was “overwork.”
51. 6/27 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
52. 7/2028: what now?Keep going — Spread the word through communities and content — 30 new customers this month. While the number climbs, it looks like a company.
53. 7/13 · Personal data requestA customer asked for disclosure and deletion of their personal data. You checked the procedure again.
54. 8/2028: what now?Incorporate — The company is registered. Your business card now says CEO.
55. 8/13 · A competitor movedA competitor shipped the feature you were preparing, first. Their price is lower.
56. 8/19 · Covered in an articleAn industry outlet wrote about the product. Sign-up inquiries rose a little.
57. Financing approvedBank working-capital loan ₩5,000,000 · 7.3%/yr · 60 months
58. You are short of moneyBank credit line — You walked into the bank with documents and proof of income. They said your trading history is short. Now you wait for underwriting. Bank working-capital loan ₩5,000,000 approved.
59. 9/4 · FamilyYou talked with your family for a long time. Someone said, “You come before the money.”
60. 9/27 · Service outageRight after the deploy, login broke. Restored in forty minutes, but customer messages flooded in.
61. 10/2028: what now?Spread the word through communities and content — 50 new customers this month. Among the new names were people last month’s customers had sent.
62. 10/11 · Funding costs rose againThe US 10-year yield rose to 5.29%. Investors recalculated valuations, and the bank asked for more collateral.
63. 10/30 · Patent warning letterA certified letter arrived claiming possible patent infringement. A lawyer needs to review it.
64. 11/2028: what now?Keep going — Spread the word through communities and content — 35 new customers this month. While the number climbs, it looks like a company.
65. 11/4 · Down sickYou came down with something. You took medicine and pushed through, but could not concentrate.
66. You are short of moneyHold on — You closed the loan papers. Instead you cancelled subscriptions, cut what you could do without and pushed the next payment date. Holding on is also a decision.
67. Security IncidentA report came in that customer data had been exposed. The cause was an API built in a hurry three years ago. Trust takes three years to build and three hours to lose.
68. Rates RoseMarket rates rose. Variable-rate loans cost more, and so does any new borrowing. More people stood at bank counters tapping calculators.
69. Year 2 closeRevenue ₩6,678,516, loss ₩20,098,607. Cash ₩2,182,639.
70. 2028 · year 3 beginsSelected for a Government Program
71. 12/10 · Security vulnerabilityAn outside researcher reported a vulnerability. You have to check whether personal data leaked.
72. 12/27 · Loan payment dayLoan payment day. ₩99,618 in principal and interest left the account. The balance is ₩4,791,031.
73. AI redrew the marketAI tools changed the industry’s cost and speed. Companies that adopted them move cheap and fast; the rest pay twice for the same customer.
74. 1/2029: what now?Keep going — Spread the word through communities and content — 41 new customers this month. A post drew questions, and the questions turned into sign-ups.
75. 1/4 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
76. 1/26 · Server bill spikeTraffic grew, and the server bill came in far above what you expected.
77. 2/2029: what now?Keep going — Spread the word through communities and content — 59 new customers this month. Among the new names were people last month’s customers had sent.
78. 2/25 · A signal from your bodyYour chest felt tight, so you went to the emergency room. The result was “overwork.”
79. You are short of moneyHold on — Instead of a loan you opened the household budget. No more eating out; repairs that could wait, waited. Holding on needed a plan too.
80. 3/17 · FamilyYou talked with your family for a long time. Someone said, “You come before the money.”
81. 3/26 · Demo dayYou presented at demo day. The questions were sharp, but the applause sounded genuine.
82. 4/2029: what now?Keep going — Spread the word through communities and content — 34 new customers this month. While the number climbs, it looks like a company.
83. 4/12 · Your mentorLunch with an old mentor. “Forget the numbers. Are you sleeping?”
84. 5/2029: what now?Keep going — Spread the word through communities and content — 30 new customers this month. A post drew questions, and the questions turned into sign-ups.
85. 5/28 · An investor showed interestAn investor asked for a meeting next week. “I want a closer look at who is building this,” they said.
86. 5/8 · A loan payment bouncedThe loan payment did not go through. One text from the bank, and your credit grade dropped a notch.
87. You are short of moneyHold on — Instead of the bank you called suppliers and asked for a month’s grace. Two said yes, one said no.
88. 6/8 · Loan payment dayLoan payment day. ₩99,618 in principal and interest left the account. The balance is ₩4,360,662.
89. 6/29 · HeatwaveA heat warning. The air conditioning ran all day. The electricity bill is on your mind.
90. 6/24 · Your partner lost their jobHa-yun was let go. Unemployment benefit will last a few months, but less is coming into the house.
91. 6/4 · Collection callsA number you did not know. It was about the overdue loan. Your family heard every word.
92. A text offering moneyDon’t borrow — You deleted the text. This month’s bills need another way.
93. 7/2029: what now?Keep going — Spread the word through communities and content — 22 new customers this month. Among the new names were people last month’s customers had sent.
94. 7/3 · A competitor movedA company solving the same problem announced a funding round. Nobody in the comments mentioned you.
95. 7/10 · Churn roseCancellations this week were double the usual. Many customers abandoned the payment page.
96. 7/20 · Collection callsA number you did not know. It was about the overdue loan. Your family heard every word.

Start simulationFounder failure stories