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When we get Komooted

bikepacking.com

61–70 of 275 posts

Re: When we get Komooted

#61

Just look at what private equity did to British Water companies, Toy'R'Us and any number of other organizations. Do private equity companies perform any useful social purpose? Or are they all wreckers, asset strippers and carpet baggers?

Private equity can sometimes save failing businesses unfortunately there aren't a lot of businesses that go public out of private equity so it is difficult to measure their effectiveness.

Since after all the only time private equity is interested in going public is unicorns.

Re: When we get Komooted

#62
post #44

Next years article: When We Get Bikepacked Never believe a company that you are part of a community if the content you create for them cannot be exported and published somewhere else. I am especially sceptical if someone says they never sell.

bikepacking.com doesn't look like it's a for-profit company, in their about page.

The owners could still sell it though

Re: When we get Komooted

#63
post #28

I will never understand why businesspeople consider it a betrayal when business happens. If it’s not in the contract, it’s not something you should rely on.

Who says it wasn't in the contract? If they had a terms of service that promised to never sell and then revised it to remove that clause is that legal? Probably not but good luck fighting it.

The problem is legal suits over complex contract law are way too expensive for impacted people to legitimately seek enforcement in cases like this. Especially since courts hate non-monetary enforcement and so at best would allow some pittance of money as a replacement.

Re: When we get Komooted

#64

As someone who always rejected Komoot and stuck to OpenStreetMap, and had to justify that decision multiple times: I'll play them the world's smallest violin.

Counterpoint: I used Komoot during the pandemic because it was the only app that would recommend new, interesting trekking routes every week in the small corner of the world where I was at the time. For my SO at the time, who was losing their mind due to cabin fever, Komoot was a literal lifesaver. No other app that I know of offered that.

I am therefore thankful to the old Komoot Team and I'm sad for them.

Re: When we get Komooted

#65
post #27
post #5

I don't feel like I've been Komooted. There are alternative apps that I'll switch to. However, it really sucks for employees. I know a guy who joined Komoot a few weeks before the sale, and who was among 80% fired right after the sale finalised. They've been negotiating the terms of sale and hiring people simultaneously -- that's just insane.

Why is that insane? A job this week is no guarantee, legally or practically, of a job next week. To assume otherwise is foolish and naive. That’s simply not how employment works.

> A job this week is no guarantee, legally or practically, of a job next week.

It is in Europe - one or three months are the standard notice periods I believe?

Re: When we get Komooted

#66

The more I see Bending Spoons in the news, the more I realize how shitty of a company it aims to be. I once applied to their job listing. I adored the idea of working there. Now all I can think about is "I'm glad they rejected me"

I mean they own meetup which is one of the worst platforms that has failed to die in-spite of how terrible a product it is.

Re: When we get Komooted

#67

The base premise was already bent: sell access to community-uploaded material. I know Google Maps does this on a much grander scale but at least the data is more or less accessible for everyone. I wonder why there aren't popular free/open projects that do what Komoot does. What they did above the contributions seem to be doable by a dedicated group or a nonprofit.

> I wonder why there aren't popular free/open projects that do what Komoot does. What they did above the contributions seem to be doable by a dedicated group or a nonprofit.

Well, there are still costs involved (not just financial but also labour), and someone has to pay them. We are lucky to have a number of great open source and community-driven projects where people do contribute time and money to make data freely available to everyone, but it's not guaranteed. If there aren't enough people who are willing and able to contribute, or the costs get too great, the project will founder.

OpenStreetMap seems like it is already doing this to an extent, or at least is a good platform on which something like this could be built. Hopefully this saga encourages more people to contribute that way.

Re: When we get Komooted

#68
post #35

> Komoot, to them, was more than a job; it was a mission and purpose. Many had accepted below-average salaries and uprooted their lives to commit to the outdoor lifestyle and the dream job. Suddenly, they were left scrambling for new work and visa sponsors with just a few months’ pay as severance. The six bosses, meanwhile, pocketed an estimated 20 to 30 million euros each. That’s why, and call me unethical, I never…

> That’s why, and call me unethical, I never do more than necessary at work. Never help outside of business hours, never engage with rich bosses. Switch every 2-3 years to new places. Maximise my income (in real money, not imaginary stocks) while trying to work the minimum.

That's not unethical at all, in fact I think that's a highly intelligent strategy to look out for the little guy (namely you) in the bear pit of tech capitalism. Anyone buying into the "we're more than a company, we're family" schtick is just another sucker to be worked remorselessly to line the pockets of the VPs and C-suite.

My previous employers included me in their Director/VP meetings, and the family schtick evaporates pretty quickly when they start talking cuts. One VP in a meeting, quite literally, proposed laying off an entire team of veteran engineers (most with young kids) and the very next thing that came out of this doucebag's mouth was "are we ordering in some lunch?". They do not care a whit about you and once you realise that then you should just look to yourself first and foremost and forget accepting below-average salaries just for some "mission".

They will happily kick you to the curb for any of the following reasons, which I have personally witnessed in the past few years,

- Their pal is looking for a job that's currently occupied by someone else. So they fire and hire.

- They want to deflect blame for their own failures, so they fire a bunch of folks who had nothing to do with the failures.

- They want to appear 'ruthless' to the CEO, so fire people to enhance their own image.

- They do a clear out of their previous incumbents staff once they replace someone and bring in their own crew.

Re: When we get Komooted

#69
I think that the stylized picture here is:

1. Bending Spoons (BS) is an itallian conglomerate, who is specialized in acquiring marginally-profitable software companies.

2. After an acquisition, BS attempts to cut the cost structure agressively. This normally involves massive axing of employees.

3. BS also raise the pricing agressively, which would shock long-term users.

4. Now the acquired compnay is cashflow-positive.

5. Using that cash flow, BS proceeds to acquire another company.

Based on this playbook, Bending Spoons has acquired Evernote, Remini, Meetup, WeTransfer, Brightcove ... and now Komoot.

So in short, Bending Spoons is a roll-up vehicle for software business, pretty similar to what Brad Jacobs (who founded United Rentals and XPO) has been doing for decades.

Re: When we get Komooted

#70
> Komoot, to them, was more than a job; it was a mission and purpose.

> Unusually, none of the employees held stock in the startup

Sigh. Even with equity I’d question tying your purpose to the company like that. Without equity it’s just very silly.

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