I think behind most big failures (at least the ones where meaningful revenue was generated) is a healthy, sustainable business idea. Oftentimes, the founders j

I think behind most big failures (at least the ones where meaningful revenue was generated) is a healthy, sustainable business idea. Oftentimes, the founders just grew too fast or flew too close to the sun. So, there’s an opportunity to pick up the pieces and rebuild, or start from scratch with the learnings. In most cases, the firm handling liquidation auctions off the firm’s assets, so if you have the motivation to pick up the pieces and grind out a sustainable business, you can usually purchase the tech and customer lists for six or low seven figures (varies based on size of business of course). If you actually pursue this, my advice is to make your offer as simple as possible (don’t ask for a bunch of diligence) and set an expiration on your offer so they don’t shop around. The liquidators are often not incentivized to maximize value - they just want to finish the project as painlessly as possible.