Goldman Raising $2B to Buy Distressed Celsius Assets
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Goldman Raising $2B to Buy Distressed Celsius Assets
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Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#2Doesn't say how much of their own money they'll risk.
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#3It's taken me a while to understand this but a very common cycle for tech is:
1)Startup founder gets and idea and develops it.
2)The startup develops the tech and finds a market for it
3)The Startup becomes successful
4)The market falls apart and the founder can't guide the startup thru the difficulties
5)Start up is in distress or fails
6)An MBA type comes along buys everything at a deep discount
7)The new manager restarts the company. This time with much more discipline and a plan on how to sell the product.
8)Company becomes successful enough to be sold or go public.
9)MBA guy multiplies his investment. Startup guy gets the shaft.
We are going to see this cycle in crypto. Right now, MBA types are looking for any companies that are falling apart but have a future. Looks like Celsius is one of them.
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#4It's taken me a while to understand this but a very common cycle for tech is: 1)Startup founder gets and idea and develops it. 2)The startup develops the tech and finds a market for it 3)The Startup becomes successful 4)The market falls apart and the founder can't guide the startup thru the difficulties 5)Start up is in distress or fails 6)An MBA type comes along buys everything at a deep discount 7)The new manager r…
I’ve seen a couple examples of a somewhat opposite scenario where founder does well, sells to MBA for a lot, business struggles, founder repurchases for much less, then brings business back to profitability
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#5It's taken me a while to understand this but a very common cycle for tech is: 1)Startup founder gets and idea and develops it. 2)The startup develops the tech and finds a market for it 3)The Startup becomes successful 4)The market falls apart and the founder can't guide the startup thru the difficulties 5)Start up is in distress or fails 6)An MBA type comes along buys everything at a deep discount 7)The new manager r…
What is celsius' future? It seems like Goldman just wants a bunch of fire sale assets.
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#6It's taken me a while to understand this but a very common cycle for tech is: 1)Startup founder gets and idea and develops it. 2)The startup develops the tech and finds a market for it 3)The Startup becomes successful 4)The market falls apart and the founder can't guide the startup thru the difficulties 5)Start up is in distress or fails 6)An MBA type comes along buys everything at a deep discount 7)The new manager r…
At least in crypto, most founders are getting absurdly wealthy independently of their ability to execute or even bring a working product to market.
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#7Honestly I am surprised we are not seeing violent acts against people running these companies (Celsius, terra, etc).
I would be beyond furious if I couldn't withdraw my assets from this scam.
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#8It's taken me a while to understand this but a very common cycle for tech is: 1)Startup founder gets and idea and develops it. 2)The startup develops the tech and finds a market for it 3)The Startup becomes successful 4)The market falls apart and the founder can't guide the startup thru the difficulties 5)Start up is in distress or fails 6)An MBA type comes along buys everything at a deep discount 7)The new manager r…
I’ve seen a couple examples of a somewhat opposite scenario where founder does well, sells to MBA for a lot, business struggles, founder repurchases for much less, then brings business back to profitability
I remember some of the founders of the first startup I worked for commenting after its acquisition that before being acquired they had been terrified that the huge acquirer would just go "Oh, we should do that" and assign a dozen software engineers to design, implement and ship a rival product, but after acquisition from inside the huge corporation they could see they had nothing to worry about, assigning a dozen software engineers to go ship a rival product would have needed board level determination and nobody in the board knows the first thing about the actual product so that's not going to happen.
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#9Hah, we just had a comment in the other thread where someone suggested this would happen and someone else was skeptical.
https://news.ycombinator.com/item?id=31869856
But what's Goldman's play here? To pump crypto after buying?
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#10It's taken me a while to understand this but a very common cycle for tech is: 1)Startup founder gets and idea and develops it. 2)The startup develops the tech and finds a market for it 3)The Startup becomes successful 4)The market falls apart and the founder can't guide the startup thru the difficulties 5)Start up is in distress or fails 6)An MBA type comes along buys everything at a deep discount 7)The new manager r…
I’ve seen a couple examples of a somewhat opposite scenario where founder does well, sells to MBA for a lot, business struggles, founder repurchases for much less, then brings business back to profitability
DELL and Apple are a good example of your scenario. And Microsoft and Google are examples where the founders handed the company to an MBA and the companies profits greatly increased. But I've seen these happen much less.