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I don’t necessarily disagree with you, just wanted to draw a distinction between a blatant failure to manage finances and an excessively aggressive growth strat
by CyberRabbi 5y ago
I don’t necessarily disagree with you, just wanted to draw a distinction between a blatant failure to manage finances and an excessively aggressive growth strategy that fails to pan out.
- doctor_eval 5y agoI think it's fair to draw this distinction, sure. The bean counters aren't necessarily able to change direction of the business, even if they can see it coming. And I also think it's OK to have an excessively aggressive growth strategy too. Why not? Maybe it will work out. The problem is when such a strategy can't be falsified until after all the money is spent. That's not a strategy, that's just gambling. It's been really common in my experience - when a strategy isn't hitting its objectives, double down on it, and spend more! Until ultimately all the investor's money is wasted.