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Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

bloomberg.com

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Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#41

Post by Krutonium »

starkparker wrote: post #10
dataveg wrote: post #9

Earlier quoted context omitted.

That’s part of the problem with durable or semi-durable businesses. You sell a ton - one to everyone- and then you only sell to people coming of age or to those who have failures. If you want to play with the math look up Bass models or diffusion models. Fascinating but quite sobering. Once a market is saturated it’s very hard to grow.

So from a business sense the best feature of, say, a KitchenAid stand mixer is its accessory port.

As a home user, I agree, that's the best part of the Mixer. God I love it.

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#42

Post by pleb_nz »

medler wrote: post #28
donavanm wrote: post #19

Earlier quoted context omitted.

> I wish I could still easily buy real borosillicate glassware. You can, in NA and ANZ at least. Last I looked “lock & lock” storage containers were still borosillicate instead of soda lime. ISTR that there are a few other similar and easy available options.

North Africa and Anterior New Zealand?

ANZ is often Australia and New Zealand

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#43

Post by bob1029 »

I just bought some extra copies of my 6qt just in case this goes off a cliff pretty soon...

I'm pretty sure I've cooked at least a ton worth of food in my original instant pot from 2015. It is still going strong. I cannot imagine using something else. I don't really care if there's something shinier/faster/whatever. I have a fuckin system now and the instant pot has timings critical to it.

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#44

Post by lukeck »

h2odragon wrote: post #2

Take a well known, respected brand; remove all the things that made it respected, sell shoddy replacements instead (and throw the name at everything else it might stick to); and when you've milked it dry, walk away from the debts. I wish I could still easily buy real borosillicate glassware.

What has happened that makes borosilicate glassware hard to get?

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#45

Post by Dowwie »

Considering how popular instapots and pyrex products are, the company executives must have sucked the company dry. This can be a case study of corporate raiding from within.

"Credit crunch and high interest rates weighed on liquidity" is language usually attributed to extreme risk taking in financing, another sign of fraudulent intent-- short term focus, get what they can while they can, leave a carcass behind.

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#46

Post by NoZebra120vClip »

lukeck wrote: post #44
h2odragon wrote: post #2

Take a well known, respected brand; remove all the things that made it respected, sell shoddy replacements instead (and throw the name at everything else it might stick to); and when you've milked it dry, walk away from the debts. I wish I could still easily buy real borosillicate glassware.

What has happened that makes borosilicate glassware hard to get?

There has been a good deal of rumor and fake news about Pyrex and the products they make. Snopes tried to set the record straight in 2009: https://www.snopes.com/fact-check/exploding-pyrex/

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#47

Post by dismalpedigree »

silverlake wrote: post #35
IvyMike wrote: post #13

Earlier quoted context omitted.

Instant Pot was purchased in 2017 by Cornell Capital, a private equity company. I discovered this just now by when I thought "I bet some private equity company bought them and destroyed them in order to make short term profits" and then googled "instant pot private equity" to see if that was the case. It appears so. Gotta love those private equity companies. I'm no expert, but this article is a good overview of how t…

This article talks about debt likes its free money. Getting a loan means convincing a lender that you are very likely to pay it all back. If PE firms had a history of not paying back debts, why would lenders continue to lend to them? Like, who is this moron losing money on loans every day?

Its not that the underlying firm cannot support the debt load, if the proceeds from that debt were put in to productive uses (expand production, design new products, more marketing, etc). The problem is that the debt is taken on, then the firm pays huge special dividends or “management fees” to the PE firm. PE firm often recoups the initial investment within first year. Then the firm is forced to focus on short term gains to make the numbers look good so PE firm can find another sucker (either another PE firm or IPO).

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#48

Post by dismalpedigree »

awaythrow483 wrote: post #39
dr_monster wrote: post #12

Earlier quoted context omitted.

I’d like to read more about this, has it been documented or analyzed in any organized way via books/research, etc. that is available?

Roughly the things to look up are private equity and their "bust out" strategy https://www.youtube.com/watch?v=z5PLEZiSZV https://www.youtube.com/watch?v=r3_41Whvr1I https://www.youtube.com/watch?v=o10nh86q64Q https://www.youtube.com/watch?v=n7VmIy0VXOY Buy a company with debt (leveraged buy out). Hand that cash back to the "private equity investors". Let the company go bankrupt and the debt magically dissapears. Bas…

Agree. One of the most infuriating things we tolerate as a society. The number of good and solid companies adding value to society that have then been raided in order to line the pockets of a few is such a disgrace.

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#49

Post by catchnear4321 »

NoZebra120vClip wrote: post #46
lukeck wrote: post #44

Earlier quoted context omitted.

What has happened that makes borosilicate glassware hard to get?

There has been a good deal of rumor and fake news about Pyrex and the products they make. Snopes tried to set the record straight in 2009: https://www.snopes.com/fact-check/exploding-pyrex/

the complaints about formulation change or difficulty in deliberately purchasing borosilicate aren’t rumor or fake news, the formulation change is half of what snopes lists as the truth, and that’s exactly what is being claimed above.

the fake news part is china,china,china, and the unresolved part is whether or not this formulation change happened to more than coincide with any sale. which snopes won’t touch, because that could sure get messy without receipts. but isn’t that the root of the rumor?

snopes is to fact checking what fox or cnn are to news. any fact checking is coincidental, and not the primary purpose of the site.

Re: Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy

#50

Post by dagw »

kylehotchkiss wrote: post #40
reassembled wrote: post #38

I don’t know what we’d do without the InstantPot. We literally have this thing going every night making veggies, beans and lentils, soups, and stews for the family. It really takes a ton of stress out of mealtimes, particularly with a toddler in the house. Even before we had a kid we were using the thing constantly, and telling all of our friends and family to buy one. Our first Instant Pot unit had a faulty pressure…

You could buy a fissler pressure cooker if you needed a different pressure cooker. Yes it goes on the stove and doesn’t have variable pressure settings but it gets the job done, is mechanically sound and should last decades with occasional seal replacements

Yes it goes on the stove and doesn’t have variable pressure settings

The whole point of the instant pot is those two features. Being able to tell it what I want to make, turn it on, and then just walk away and forget about it until I need it is the whole point of having an Instant pot

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