Just out of curiosity, what was the idea behind his startup? I've been avoiding getting a job along the same lines, but can never imagine going into 100k debt for a startup obsession.
I don't want to say too much, because I don't want him to find this, but it was a web service for a popular non-profit. It helped them manage costs of a certain nature. It was definitely a good idea, but the non-profit is notoriously stingy, and the sales cycle was very, very long. So far they've only sold one copy. I think the obsession he had scared off some investors, but mainly I think they didn't see a big exit. He had a partner, but the partner got a job years ago, because he had a wife and kids he needed to feed.
