Earlier quoted context omitted.
I mean, maybe the reality is more nuanced but the optics… > Matt, Automattic’s CEO, and I have known each other for years. He was an early user, supporter and investor in Beeper It certainly sounds like… Beeper was in the bin after the beeper mini fiasco, and resulting massive brand damage (brand aweness is only good if it means people actually want to use your product, not active distrust it), so the friend and earl…
This isn't how business works. A "CEO friend" isn't going to give you $125m out of the goodness of their heart so some random shareholders can save face. Worst case, the business fails, everyone happily moves on. How do you think automattic is funding this transaction? There are underwriters. And underwriters need rigorous dd to justify $1,000 let alone $125m. Even if it's an all-stock deal, a transaction like this w…
There are a lot friend and family members of so-and-so who are "worth" a few million dollars and that money was largely a gift. They largely spend a lot of time pretending to be "founders", "advisors" and "angels" but no, they got lucky.
Not everything is like that, but there's quite a lot of that within the billions of someone else's money's ocean that flushed SF during the last +20 years.