Corporates were made in man’s image

We exist for maximizing our utility functions (our version of profit).

Our assets are tangible (capital) and intangible (labor capacity/human capital).

We retain working capital for short term transactions (cash forms a small part of assets.)

Understanding our own balance sheets better (a young persons assets are mostly intangible and take the form of expected future income streams) can help us understand leverage as a function of tangible capital versus real capital.