In the 90s there was a popular, now-forgotten CRM/bookkeeping system for MS-DOS called Vega. When they launched version 2.0, the founder/CEO boasted to the press about how 2.0 was old hat, and how they were working on 3.0, which was going to be so much better. Subsequently, almost nobody bought 2.0, because the current product worked well enough and they wanted to hold out for 3.0. I believe the company went under as a result.
A man who destroyed his multimillion dollar company in 10 seconds (2018)
311–320 of 499 posts
Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)
#312The key mistake here is not respecting your customers. Unsurprising in an inherited business, and in many corporations, which are essentially inherited by promotion.
Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)
#313Earlier quoted context omitted.
Still not necessarily victimizing anyone though
Easy enough to say if your boss is not hitting on you! If you turn him down it could hurt your career... These are the types of things most men don't have to worry about.
>These are the types of things most men don't have to worry about.
My co-worker went got me fired because I didn't accept her advances. It's a long story but she accused me of hitting on her, when in reality she was hitting on me and I was just ignoring her. A bunch of other guys supported her (idk why, I didn't know those guys much but they supported her even tho she is a pathological lier.)
Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)
#314Earlier quoted context omitted.
People seem to be using the economic word “externalities” as “things I don’t like”.
That is what externality means -- "a side effect or consequence of an industrial or commercial activity that affects other parties without this being reflected in the cost of the goods or services involved." (unless this person is affecting the cost somehow as a result of this dislike) In a sense, economics is entirely about what people like and dislike.
In the OPs example, hiring low wage labor, is in fact reflected in the price.
Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)
#315This is possible only in capitalism, where the demand doesn't come from people's needs but is simply created by the sellers themselves. I've seen successful online businesses based on selling people animal feces.
Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)
#316Earlier quoted context omitted.
I agree. Fellow "cheapskates" who just want to get from Dublin to Edinburgh on a cheap flight probably admire his thrift.
Such cheap flights are possible because the airlines aren’t paying the externalities they cause. Ryanair don’t fly to London btw. Or Brussels.
> Ryanair don’t fly to London btw
Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)
#317Kudos to the guy for bouncing back though !! “After losing everything, he toiled in misery for years — but he eventually made an improbable comeback. In 1997, he took out a £155k (US$203k) loan on his house, built up a health club business, and sold it for £3.9m (US$5.1m). He then used the profits to start an online jewelry company. (The Ratners Group rebranded as Signet in 1993; today, it is the largest diamond reta…
At the time Ratners already owned Kay and Jared... I think “destroying” the company is a bit overstated/exaggerated. The company itself came out just fine. They still own Jared and Kay, and Zales more recently.
Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)
#318Earlier quoted context omitted.
Spoken like someone who can't comprehend living hand to mouth. Happiness is definitely a hockey-stick shaped curve, going from 1M to 10M is not going to make you happier, but someone who is making $100k is going to be far far happier than someone making $20k. The difference between scrabbling to pay your bills and keep the heat on, vs actually having some savings and free money for recreation, is absolutely massive.
I’m not so certain about that actually, I’ve certainly seen people making $20k that had more free money and recreation time than some people making $100k. Especially as regards recreation time. To be fair, making $20k was almost always a choice in those cases.
How were those people living? Are they single people in their mid 20s with no significant other or kids? Are they making enough to put some towards retirement?
I guess if you're willing to sacrifice some things it could work. You're definitely not raising a family of 3-4 in a nicer neighborhood with that amount.
Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)
#319In the 90s there was a popular, now-forgotten CRM/bookkeeping system for MS-DOS called Vega. When they launched version 2.0, the founder/CEO boasted to the press about how 2.0 was old hat, and how they were working on 3.0, which was going to be so much better. Subsequently, almost nobody bought 2.0, because the current product worked well enough and they wanted to hold out for 3.0. I believe the company went under as…
I lived through that exact thing a few years ago. Company never recovered.
Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)
#320I really enjoyed this one. Thanks for sharing it.