Honestly quite shocking news given their success, but I guess it’s what happens when you chase tech company profits.

  • samick1
    link
    fedilink
    arrow-up
    11
    ·
    1 year ago

    It’s not how they managed success, it’s that they ran out of it. Making a successful niche kitchen appliance is not a business, it’s one of many things that a successful niche kitchen appliance business does.

    Successful businesses also allocate capital optimally, build formidable brand and product moats, hire amazing managers and build fortified balance sheets. They forgot to do all that stuff. (See also: reddit)

    • Deedasmi@lemmy.timdn.com
      link
      fedilink
      arrow-up
      4
      ·
      1 year ago

      I have an instant pot air fryer. They definitely made some attempts. But I imagine they kept trying to be the big mover and shaker and that’s expensive compared to just building a solid trustworthy brand.

    • Another Person @lemmy.world
      link
      fedilink
      arrow-up
      2
      ·
      1 year ago

      undefined> Successful businesses also allocate capital optimally, build formidable brand and product moats, hire amazing managers and build fortified balance sheets. They forgot to do all that stuff. (See also: reddit)

      Otherwise known as managing success. Once you have a successful cash flow you need to diversify it and build your business to have multiple cash flows.

      • samick1
        link
        fedilink
        arrow-up
        4
        ·
        1 year ago

        I’m undefined? 😟

        Otherwise known as managing success. Once you have a successful cash flow you need to diversify it and build your business to have multiple cash flows.

        Semantics I guess. Di-worse-ification isn’t always the answer. They had a large product lineup, which was probably more expensive for them than it needed to be. They went under because they failed to fortify their balance sheet… rates went up and their debt crushed them.

        Capitalism works fine just turning a profit while plenty of companies die chasing growth. It’s just part of it.

        • Another Person @lemmy.world
          link
          fedilink
          arrow-up
          5
          ·
          1 year ago

          For some reason the software inserted the “undefined” when I tried to quote your post. Growing pains of a new site I guess.

          • samick1
            link
            fedilink
            arrow-up
            2
            ·
            1 year ago

            🤣 I didn’t think you were trying to tell me something, I figured the Lemmy code goofed somewhere.

              • samick1
                link
                fedilink
                arrow-up
                1
                ·
                1 year ago

                undefined> it always pops up if you want to quote a selection. see?

                Ah okay. I’m in the habit of copy-pasting after the > manually so I hadn’t noticed that.