41–50 of 121 posts
Earlier quoted context omitted.
The corpse? It's actively used by many companies in production. Unless you're referring to the branching point, which is more like the younger version than a corpse.
> It's actively used by many companies in production The problem is not many of them want to pay for it. $40 million in ARR after 13 years and $227 million in funding isn't great.
We need a better mechanism for companies to go public. The traditional IPO is a ripoff and SPACS are scams. It's great that companies like MariaDB are able to raise money in public markets, though.
Direct listings seem fine-ish.
The bar is too high and there are huge numbers of really decent companies that need some kind of liquidity.
We're just not set up for it. Maybe it's a matter of just bringing more attention to small caps, I don't know.
Or another vehicle.
There are just too many truly great value creating business out there whereupon it's very difficult for founders to get their accumulated value out of it. People have devoted their lives to doing some good thing, but it's pointless if it's hard to market the company. This absolutely has effects on the industry because it's literally not worth the devotion required to do so many things if there can be no upuside even a good scenario of making a decent company.
It leaves way too much money in the hands of bankers and speculators and not those to took the biggest risks, made it work and likely created surpluses for everyone.
Definitely we need a new model.
An example that you don't have to just be smart and hardworking in order to succeed in business. You need to be lucky as well. MySQL was the right product at the right time. Edit: Forgot the "just to be smart and hardworking"
Earlier quoted context omitted.
A description of how SPACs work can be found here: https://www.investopedia.com/terms/s/spac.asp
From the link: > During a 2020–2021 boom period for SPACs, they attracted prominent names such as Goldman Sachs, Credit Suisse, and Deutsche Bank, in addition to retired or semiretired senior executives. Now, why retired or semi-retired senior exec who are most probably already swimming in money and have a certain age are even thinking about these investments instead of just spend the fortune they have and enjoy life…
https://www.skadden.com/insights/publications/2022/03/sec-pr...
"About 99% of the shareholders of special purpose acquisition company Angel Pond got their money back before the merger was completed, wiping out about nearly $263 million in capital that the companies had projected could be raised in the deal."
That's my problem with SPACs. The people who put them together walk away with all the money. IronNet, 23andMe, and Adstra, had similar drops.
We need a better mechanism for companies to go public. The traditional IPO is a ripoff and SPACS are scams. It's great that companies like MariaDB are able to raise money in public markets, though.
We need a better mechanism than going public. That only leads to the inevitable next-quarter-itis that has taken down once great companies like HP and Bell Labs.
Are you excited by the fact that Mark Z doesn't suffer from this disease with Meta and is spending $25B/yr on a virtual reality platform that won't provide returns for many years, if at all?
Quarterly reporting (and the inevitable over-weighting of it) is there to PROTECT small-time investors.
It's losing incredible amounts of money... how is it possible to still have 650M market cap when you lose almost as much money as you have revenue... and next year doesn't look that much better...
Read the valuation of MariaDB earlier today in the paper paper (so before trading had started) and immediately thought: It can't be worth that much: Speculation, hype! Of course the new value determined by "the markets" is also a result of speculation. Just a different type of and less hype.
We need a better mechanism for companies to go public. The traditional IPO is a ripoff and SPACS are scams. It's great that companies like MariaDB are able to raise money in public markets, though.
We need a better mechanism than going public. That only leads to the inevitable next-quarter-itis that has taken down once great companies like HP and Bell Labs.
Keeping companies private just limits who can own them and doesn't help.
An example that you don't have to just be smart and hardworking in order to succeed in business. You need to be lucky as well. MySQL was the right product at the right time. Edit: Forgot the "just to be smart and hardworking"
I assure you that MySQL-the-company was absolutely filled with very smart and very hardworking people.