To me, a deal around hardware is not a red flag when growth requires additional hardware. The circular investments that would worry me are when the investment

To me, a deal around hardware is not a red flag when growth requires additional hardware. The circular investments that would worry me are when the investment returns as advertising spend and other costs that don’t improve the product. Recent headlines grabbing deals are between pretty savvy companies and none of them appear on the verge of bankruptcy. There doesn’t appear to be an air of desperation about them. They don’t look like shuffling deck chairs so much as negotiated procurement.