this post was submitted on 13 Jun 2023
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Technology
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Oh look. Another successful company that couldn't manage their own success. Capitalism is going great.
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)
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.
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.
I'm undefined? 😟
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.
For some reason the software inserted the "undefined" when I tried to quote your post. Growing pains of a new site I guess.
🤣 I didn't think you were trying to tell me something, I figured the Lemmy code goofed somewhere.
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.Sure looks like Yet Another Case of Outside Investors Ruining It.