Technology

1928 readers

7 users here now

Rumors, happenings, and innovations in the technology sphere. If it's technological news, it probably belongs here.

Subcommunities on Beehaw:

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

[email protected]

Instant Pot's Parent Company Files for Bankruptcy (www.theverge.com)

submitted 1 year ago by [email protected] to c/[email protected]

21 comments fedilink hide all child comments

Honestly quite shocking news given their success, but I guess it's what happens when you chase tech company profits.

you are viewing a single comment's thread
view the rest of the comments

[–] samick1 11 points 1 year ago (2 children)

It's not how they managed success, it's that they ran out of it. Making a successful niche kitchen appliance is not a business, it's one of many things that a successful niche kitchen appliance business does.

Successful businesses also allocate capital optimally, build formidable brand and product moats, hire amazing managers and build fortified balance sheets. They forgot to do all that stuff. (See also: reddit)

[–] [email protected] 4 points 1 year ago

I have an instant pot air fryer. They definitely made some attempts. But I imagine they kept trying to be the big mover and shaker and that’s expensive compared to just building a solid trustworthy brand.

[–] [email protected] 2 points 1 year ago (1 children)

undefined> Successful businesses also allocate capital optimally, build formidable brand and product moats, hire amazing managers and build fortified balance sheets. They forgot to do all that stuff. (See also: reddit)

Otherwise known as managing success. Once you have a successful cash flow you need to diversify it and build your business to have multiple cash flows.

[–] samick1 4 points 1 year ago (1 children)

I'm undefined? 😟

Otherwise known as managing success. Once you have a successful cash flow you need to diversify it and build your business to have multiple cash flows.

Semantics I guess. Di-worse-ification isn't always the answer. They had a large product lineup, which was probably more expensive for them than it needed to be. They went under because they failed to fortify their balance sheet... rates went up and their debt crushed them.

Capitalism works fine just turning a profit while plenty of companies die chasing growth. It's just part of it.

[–] [email protected] 5 points 1 year ago (1 children)

For some reason the software inserted the "undefined" when I tried to quote your post. Growing pains of a new site I guess.

[–] samick1 2 points 1 year ago (1 children)

🤣 I didn't think you were trying to tell me something, I figured the Lemmy code goofed somewhere.