Earlier quoted context omitted.
"On Monday, the FTC requested more information from both companies about the $1.7 billion deal, according to an investor filing from iRobot, in what’s known as a “second request” and an indicator of deeper scrutiny by antitrust officials." https://www.cnn.com/2022/09/20/tech/roomba-amazon-ftc-invest...
In other words, they didn’t shut it down.
Wall Street ruined the Roomba and then blamed Lina Khan
51–60 of 213 posts
Re: Wall Street ruined the Roomba and then blamed Lina Khan
#52Roomba screwed up for sure, but they found a way out with Amazon until US consumer "protection" shut it down.
Re: Wall Street ruined the Roomba and then blamed Lina Khan
#53To be honest the Roomba sucked and got eaten alive by better chinese competitors. I bought a top of the line expensive Roomba years ago and ended up switching to neato a year later, because I would just come home and it would be stuck on something.
Sucked not the ideal pejorative for a vacuum
Re: Wall Street ruined the Roomba and then blamed Lina Khan
#54Earlier quoted context omitted.
That is probably true. But Roomba sucked in the early 2000's too. They never got better.
I believe the author's thesis is that if they had invested in innovation over a couple decades, the product probably would have sucked less.
Re: Wall Street ruined the Roomba and then blamed Lina Khan
#55To be honest the Roomba sucked and got eaten alive by better chinese competitors. I bought a top of the line expensive Roomba years ago and ended up switching to neato a year later, because I would just come home and it would be stuck on something.
Re: Wall Street ruined the Roomba and then blamed Lina Khan
#56Hard for me to understand how the consumer was protected by preventing Amazon from acquiring them. Only for Chinese firm to get for cheap in bankruptcy. But maybe I’m not educated enough in socialism to understand the nuances
Re: Wall Street ruined the Roomba and then blamed Lina Khan
#57A huge fraction of the knee-jerk reactions here seem to miss the key point that the post is trying to get across: > In the mid-2010s, during Furman’s tenure running economic policy under Obama, the company sold its defense business, offshored production, and slashed research, a result of pressure from financiers on Wall Street. > Mesdag engaged in a proxy fight to wrest control of the company from its engineering fou…
And if you dump your defence contracts you may have trouble paying for research.
Re: Wall Street ruined the Roomba and then blamed Lina Khan
#58To be honest the Roomba sucked and got eaten alive by better chinese competitors. I bought a top of the line expensive Roomba years ago and ended up switching to neato a year later, because I would just come home and it would be stuck on something.
How much did regulation and taxation and red tape play into Roomba's inability to compete?
What sort of VC deals were they shackled by, in order to siphon off the data and abuse it for third party marketing, and other forms of enshittification?
There's a lot that American companies have been held back by. Some of it is actually good, consumer protective and well crafted, but it won't work if you allow other players in the same market to ignore the regulations and restrictions without consequences. Other policy is just stupid and self destructive, and other policies border on malignant, deliberately giving foreign companies significant advantages, directly and indirectly, without any other purpose.
American companies are way too easily forced into a race to the bottom dynamic, resulting in failure and huge wastes of money and effort.
Re: Wall Street ruined the Roomba and then blamed Lina Khan
#59A huge fraction of the knee-jerk reactions here seem to miss the key point that the post is trying to get across: > In the mid-2010s, during Furman’s tenure running economic policy under Obama, the company sold its defense business, offshored production, and slashed research, a result of pressure from financiers on Wall Street. > Mesdag engaged in a proxy fight to wrest control of the company from its engineering fou…
Re: Wall Street ruined the Roomba and then blamed Lina Khan
#60Earlier quoted context omitted.
What is the current AI/data center mega-boom if not forgoing short-term extraction for long-term value creation?
Given how many people are getting rich from the inflated stock prices of every AI-adjacent company right now, including the ones with no obvious path to profitability, I could make the argument that they're already in a short term extraction phase. (I'm also not sure if putting a significant % of the population out of work will create long term value to society.)