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I don't think it's awful. While the strategy may not suit everyone it's still a strategy. My business would have been dead long time ago if I didn't sign all these insane contracts. It landed me some big customers (top tier SV) which would never have happened otherwise.

Sure, I'm taking extreme risks but that's part of the strategy. Bet big, win big.

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It's not awful advice but it's definitely risky. Probably okay when you are a small one-person shop with nothing to lose and no significant assets but maybe not acceptable for anything larger, unless everyone is on board with the extreme risk-taking.

That said, agreeing to onerous terms and having the company actually enforce them later are two different things. This is a good explanation from an earlier HN thread: https://news.ycombinator.com/item?id=6366912 (yes, it's the pud 'Fucking Sue Me' thread which is evergreen).

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