this post was submitted on 13 Jun 2023
40 points (100.0% liked)

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
 

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
[โ€“] samick1 4 points 1 year ago (1 children)

I'm undefined? ๐Ÿ˜Ÿ

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.

[โ€“] [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.

[โ€“] samick1 2 points 1 year ago (1 children)

๐Ÿคฃ I didn't think you were trying to tell me something, I figured the Lemmy code goofed somewhere.