My small company (~120 employees) got swallowed by a giant whale (rhymes with “Crisco”) of a company like this. Except that everybody in the original small company got laid off six months later, and we had no assets whatsoever except for the “talent”. Crisco even got stuck with the lease for our recently-renovated office and had to buy it out. Our C-suite got large stock awards when we were acquired but they all got dismissed, too. I have no fucking idea why it happened.
That’s one thing that’s more profoundly frustrating about the whole mess, these giant carnivorous whales have already taken into account that not every meal they digest is going to be profitable, they make enough money from the ones that do turn a profit that they can write off the destruction of entire, functioning companies for no goddamn reason as “the cost of doing business.”
Yup. Either eliminating a competitor, or getting ahold of some obscure patent that they don’t want to be stuck leasing indefinitely. Or they want to be the ones to lease the patent for exorbitant amounts, and they’re willing to write off a short term loss for longer term profits.
My small company (~120 employees) got swallowed by a giant whale (rhymes with “Crisco”) of a company like this. Except that everybody in the original small company got laid off six months later, and we had no assets whatsoever except for the “talent”. Crisco even got stuck with the lease for our recently-renovated office and had to buy it out. Our C-suite got large stock awards when we were acquired but they all got dismissed, too. I have no fucking idea why it happened.
That’s one thing that’s more profoundly frustrating about the whole mess, these giant carnivorous whales have already taken into account that not every meal they digest is going to be profitable, they make enough money from the ones that do turn a profit that they can write off the destruction of entire, functioning companies for no goddamn reason as “the cost of doing business.”
This is not sustainable.
Sometimes the purpose of your acquisition is just to eliminate a competitor.
Yup. Either eliminating a competitor, or getting ahold of some obscure patent that they don’t want to be stuck leasing indefinitely. Or they want to be the ones to lease the patent for exorbitant amounts, and they’re willing to write off a short term loss for longer term profits.