
Buying Online Businesses Podcast · 2026-06-10 · 42 min
Most people think the biggest risk in buying a business is overpaying. It's not. It's signing an LOI you don't fully understand. Moving fast because someone on the internet told you speed wins. Then finding yourself thirty, forty thousand dollars deep into a deal that was never going to close the way you structured it. Eric Hsu has seen it happen more times than he can count. Over 160 closed deals as an M&A attorney who exclusively represents buyers. And the pattern almost always starts at the LOI - that document most first-time buyers treat like a formality. AI can hand you twenty questions to ask a seller. It can flag risk, validate numbers, model theory. It's genuinely useful. And genuinely dangerous when you don't know what you're actually looking at. Because AI can't read why a seller gets vague about their Google Ads account in a way that means something. It can't tell you that annual subscription revenue the seller just collected isn't really theirs yet - and your client inherits every obligation to fulfil it. It doesn't understand deal psychology. It can't sit across from someone who built their business over thirty years and feel where the resistance is coming from.