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I still don't understand how a 400-person company folded in 3 days. Like the leadership team was not willing to put up a fight. I once worked for a .COM compan
by unreal37 14y ago
I still don't understand how a 400-person company folded in 3 days. Like the leadership team was not willing to put up a fight.
I once worked for a .COM company who similarly just closed the doors one day - no warning to employees in advance. Where did the operating capital go? They had paying customers - how could they not put up more of a fight?
In the OP, ex-employees started their own event businesses with a similar model. Same with my .COM - ex-employees started companies and signed the clients of the failed company.
Makes no sense.
- pyoung 14y agoAssuming that leaders of companies always have the best interest of the company in mind is dangerous. The type of personality that tends to succeed in the business world is probably also the type of person that is willing to shut down a company if it makes financial sense to do so, despite large job losses.
- unreal37 14y agoYou're right - in that the only people who really got screwed when my .COM employer shut down was employees and investors, while founders and executives had already enriched themselves from the various financing rounds. So their willingness to fight was tempered by their desire for a long Caribbean vacation. When the s* hits the fan at Groupon, will the founders want to fight, or will they look at the $1B they have in their bank account and decide to go to Italy for a while.