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Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

investors.squarespace.com

351–360 of 414 posts

Re: Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

#351

The gold rush is over - private equity is going to squeeze every little drop from the companies that have been built and we will move on to Web 3.0 - which will be just like web 1.0 - self-hosting, link directories, newsletters, and guestbooks.

Ya for me it's been over for quite some time, almost a quarter century since the Dot Bomb around 2000/2001.

What happened was that the original web architects, loosely people like Jimmy Wales, had a different vision of the future than the one we're living in now:

1) The web was supposed to make nearly all information freely accessible with sites like Wikipedia and infrastructure like Coral CDN and BitTorrent.

2) The next step was to make computing freely accessible with stuff like One Laptop Per Child and distributed computing with SETI@home, BOINC, and something like a p2p Docker cluster running on idle CPU time, presented as virtual CPUs on your computer to run any platform code you want, perhaps 1000 to 1 million times faster than today, which hasn't been invented yet.

3) The final step IMHO was to make money/resources/time freely accessible with a p2p UBI system similar to Bitcoin, where joining it would start depositing money into a wallet by virtue of need (potential) instead of ability (productivity), like Patreon on steroids.

Instead the powers that be chose greed around 2007 after a long politically regressive period which undid much of the social progress of the 1990s, ending Moore's law and starting the transition to walled gardens and surveillance capitalism.

My life experience has basically felt like living in the alternate timeline in Star Trek TNG when the Enterprise went through the temporal rift and Tasha Yar was still alive. Not only did we NOT get #2 or #3 above, but even #1 has been steadily eroded to the point that search engines have started to not work anymore. It's not just that nobody is able to get real work done because they're working too hard to make rent, but that rent is increasing exponentially faster than wages. And that any forward progress is eclipsed by transnational moneyed interests who can use regulatory capture to control the US Supreme Court for example, cementing corporate money in politics, preventing the breakup of any monopoly/duopoly and defunding the IRS/criminal justice system to prevent enforcement of even the most basic fraud/antitrust laws on financial elites.

Which brings us back to what you said: just like every other time in history, it will be volunteers working in obscurity without financial support who bring us the next revolutionary tech. I really wanted to be one of them. But after so many failed ventures, I'm realizing that I could have made more money delivering pizza and gambling on the stock market. I'll probably have to get a regular job soon to cover expenses for my aging self and family, then be too tired to work on interesting projects. So nothing much will change - the cavalry never arrives.

If someone really wants to change the world, open source something that eliminates a whole market. 3D printed hand-wound cell phone charger cases, I don't know. Something that liberates someone from suffering and removes all profit so it can't be ruined by subscription spyware.

Re: Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

#352

Podcast market is about to crash.

Would be really interesting to see a quantitative analysis of how this acquisition impacts the podcast/youtube ecosystem. I feel like Squarespace's podcast ad market share was a big deal 5 years ago but podcasts and youtubers have grown and diversified a lot since then.

Re: Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

#353
post #333

Earlier quoted context omitted.

I’ve thought about making my own homepage to replace my instagram/fb and share my life with my friends, but how would anyone find it? I guess I could email everyone and tell them. I’ve wondered if there is a way I could easily get that to the top of Google for my name, but there are a few famous people with my name.

does it make sense to have a "social" network that in essence is _only_ a directory? looking up someone works well, and links to some external site. full stop

This reminds me of Hotline[0]. Chat, message board, file sharing. Late 90's, early 2000's, but apparently there is still a small community around it going.

Super easy to run your own server to host content from a desk/laptop and super easy to use a client to visit other servers. You could find servers using trackers (name severs that kept track of hotline servers) or keep the server private and only give out the server info to people you want.

[0]: https://en.wikipedia.org/wiki/Hotline_Communications

Re: Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

#354
post #341

Earlier quoted context omitted.

Me, demonstrating sustained performance over last 2yrs: cherry-picking. You, choosing IPO price from the frothiest IPO environment of the last decade: elevated, rigorous, robust to outliers.

Okay, well, we can settle an accusation of cherry-picking pretty easily. Why did you pick two years?

Because it's an extended period, with a simple round time window that doesn't include the IPO pop from the frothiest IPO environment of the last decade. Happy to have gone with any time window outside of 2021. That should be clear from my comment.

"But, Creddit", the ignorant accuser of cherry-picking whine, "why after 2021?"

Because as anyone in tech knows, that was the frothiest IPO environment of the last decade. Source for those who aren't aware: https://site.warrington.ufl.edu/ritter/files/IPOs-Tech.pdf

Re: Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

#355

Earlier quoted context omitted.

People hate on PE for good reason - they often make money by destroying good businesses. They sell off the valuable parts for profit, load the debts on what is left, and declare bankruptcy, leaving employees and customers holding the bag. PE is good business for the raiders, bad business for the raided.

That’s a strange cartoony impression that people here have but not generally what they do, even in the case of LBOs which I assume is what you’re referencing but only a small part of what PE firms do. They generally buy businesses that are managed poorly, manage them well, and fix them. And when they part one out like you are referencing, it’s usually a bad business. While what Eddie Lampert did to Sears/K-Mart was c…

Okay, fun question... (Honestly not sure where I sit on this...)

I've always been very skeptical of the sale/spinoff of various divisions of automakers in the 80s/90s. To me it always felt like they were looking for a short term profit vs the general 'steady pace' of government contracts and the like, I also can't help to feel amazed nobody even showed a good second option for the next gen mail carrier... but again, I feel like it's because everyone sold the farm already.

Re: Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

#356

Earlier quoted context omitted.

Some companies use interviews processes not to test your knowledge but to check the level of inhumanity you’re willing to accept while working there

I always understood it as an artificial way to reduce the applicant pool. Too many people apply, you just want to make it annoying to keep a number of people you have capacity to review in depth. It’s really shitty, of course.

Oh it's still allowing for self-selection of people who like abuse.

Re: Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

#357

Earlier quoted context omitted.

And they also don't like it when that single link points to onlyfans.

Who'd guess why, Onlyfans (and related) spammers are the scourge of the Internet these days.

Google is the scourge.

Re: Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

#358

Earlier quoted context omitted.

Can you ELI5 this?

> Can you ELI5 this? Companies have big shareholders and small. Absent controls, the big shareholders (and management) have an incentive to negotiate deals that are better for them than for the small shareholders. Delaware is good at designing these controls, which is why savvy investors like companies to be based there. One of these controls allows shareholders to sue if they think the company they own stock in was…

Perfect explaination, thank you.

Re: Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

#359

Earlier quoted context omitted.

Over 3 years running mailinabox. Zero problems after first month of hiccups. Installed a second server last year. That had 0 problems since day 1. I feel like people overblow the whole email thing. Want you to pay for tuta et al when you can build your own and manage it. I havent updated both servers in a year. Zero problems. Again, people maybe confuse miab and other email servers maintenance with maintaining nextcl…

When you send a cold email (initiating a thread or first email to someone) does it land in the recipients inbox or spam? This was what eventually broke my self hosting plan.. too many emails sent and never received.

Nope. Not in the last 2 years. Hotmail in the first days and gmail now if you send a dozen emails at once but not otherwise

Re: Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

#360

Earlier quoted context omitted.

I feel like making it easy to how your own website is something that can be solved with an ingress service (Tailscale funnel?) + DNS management and a small box that someone buys and leaves in their living room. It doesn't have to require any technical expertise, you just need to build a lot of things to make it that way.

I’ve thought about making my own homepage to replace my instagram/fb and share my life with my friends, but how would anyone find it? I guess I could email everyone and tell them. I’ve wondered if there is a way I could easily get that to the top of Google for my name, but there are a few famous people with my name.

If you're sharing it with your friends and family, why does it matter if Google can find it? And if they are your friends why wouldn't you share it with them directly? The Internet felt a lot better when people were making the content for themselves and a community that they were part of.
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