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> So if we take Ethos at their word It is unfortunate that we have a business culture where to take someone at their word is not only naive but so reckless tha
by jawns 7y ago
> So if we take Ethos at their word
It is unfortunate that we have a business culture where to take someone at their word is not only naive but so reckless that the duped gets most of the blame rather than the duper.
And yet, here we are. This is the reality. Taking a private equity firm "at their word" is so foolish that it's hard to believe the author isn't being disingenuous.
- wpietri 7y agoAny lawyer in the world would have said, "No, Dickie, we don't just take companies at their word once the money changes hands. That's what contracts are for." At best this guy is incompetent, assuming his technical skills magically transfer to being business skills. But like you, I have a hard time thinking he believes any of this.
- 55555 7y agoYeah, the idea that you would take a private equity firm "at their word" and not require it in writing is laughable.
- michaelhoffman 7y agoI can't agree more.
- bananamerica 7y agoWas business culture any different before?
- bananamerica 7y agoWas business culture much different before? Edison literally sent thugs to tear down competitors' film equipment...
- abvdasker 7y agoBusinesses cannot self-regulate. The profit motive supersedes all else. The US flatly does not have the regulatory environment to ensure internet infrastructure is accessible and affordable. Net neutrality is the cardinal example in which regulatory capture by business interests immediately led to deregulation. This is a similar story but instead it was a nonprofit organization being captured by business interests. Is there nothing the free market can't ruin?