Perhaps one explanation is personal bankruptcy? At least in Scandinavia/Finland this is an unknown concept. You mess up your business (Ireland has EPR fines upto 500ke) and end up paying company loans for the rest of your life.

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fluoridation an hour ago | parent [-]

Do they not have LLCs?

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kakoni an hour ago | parent [-]

Of course, but when getting bank loan(for the llc) to get started you have to give personal collateral.

	▲	fluoridation 32 minutes ago \| parent [-]
		I don't think any bank will give you such a huge personal loan that you could end up in debt for your whole life, since they typically want the loan repaid. The only way I can imagine that happening is if you're a sole proprietor and you get sued or fined. I can't think of another way to get exposed to that much liability.