‘You can't exclude the exit and say "oh, they changed the narrative". Because the exit is the whole point of embarking on making the business in the first place

‘You can't exclude the exit and say "oh, they changed the narrative". Because the exit is the whole point of embarking on making the business in the first place.’ I agree that this is essentially a failure. However, for many years they provided exactly the service they said they were going to provide. As for ‘the exit is the point’. Maybe for those who controlled the stock, but definitely not for everyone involved. And even for the founders, do you think this was the exit they planned on? I very much doubt that. The end result is a bad one, but I don’t think you’ve made a case for being cynical in some broader sense.