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Because a large number of people in society have a legitimate interest in the financial position of a company, irrespective of whether it is private or publicly
by djmobley 7y ago
Because a large number of people in society have a legitimate interest in the financial position of a company, irrespective of whether it is private or publicly listed.
Cloudflare have around 75,000 paying customers (not to mention those on the free tier) who are dependent on their services, and would probably like to know if they’re about to go bust.
As would their employees, suppliers, private shareholders, creditors, etc.
- big_chungus 7y agoThen this sounds like a contractual issue between Cloudflare and such people. I don't see why financials have to be publicly available for this to happen. In any case, it is rare that a company goes under with no warning. Even if it's not "public information", it's usually evident if it's seriously strapped for cash.
- djmobley 7y agoContractual assurances aren’t going to help you when a company is insolvent.
- big_chungus 7y agoCorrect, but you take a risk when doing business with any company. You find ones of good repute, you meet with representatives. Usually, it's noticeable if a company is really struggling. It is not the job of the state to make business transactions risk-free, only to provide courts for the adjudication of fraud and breach of contract.