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Jason's point is broader than the business deal, he's making a critique of the Silicon Valley culture. While I have the utmost respect for the capabilities of t

by zacker 17y ago

Jason's point is broader than the business deal, he's making a critique of the Silicon Valley culture. While I have the utmost respect for the capabilities of the Mint team, I agree that it's disingenuous for the community to wrap itself in the flag of "We're in this for the revolution, not the money" and then be just so damn quick to take the money. That said, Mint seems like the exception out here. Facebook and Twitter seem to be doing a great job keeping the champagne at bay.

adw 17y ago
What community? Okay, I'm not in the Valley, but businesses are in business to do business - to make money for their shareholders. Arguing against that as a reasonable motivation is disingenuous. You can disagree with the business decision; that essentially amounts to "I think their expected value is >$170m and I'd take their risk profile". Fair enough. But if you're arguing it on any other basis than that, then you're substituting your morals for economics, and what's more, your morals for those of all the individual shareholders. Not cool. Isn't it easiest to just assume that Facebook and Twitter haven't been bought because their equity holders think they make more money doing it their way? They've got a case too; as Twitter's paper valuation climbs past $1bn, the crew there get proved more and more correct.
- zacker 17y ago
  Do you use Intuit software? Have you tried Mint? Everyone I've talked to that has a Mint account and has been forced to use Intuit software in the past is uniformly dismayed and confused by this acquisition. Banker math surely proves Aaron would have to show real hubris to ignore Intuit's offer, but founders rightly run startups, not bankers. Intuit is a $9B twenty five year old company. Mint could have given them a run for their money. They took the payday instead.
  - Evgeny 17y ago
    Do you use Intuit software? Have you tried Mint? Everyone I've talked to that has a Mint account and has been forced to use Intuit software in the past is uniformly dismayed and confused by this acquisition. Looks like a business opportunity then ...
  - adw 17y ago
    So you're arguing that Mint can make more by displacing Intuit than by getting bought, and that this is likely enough to offset the risk. Fair enough, judgement call. But what justifies it? 'Banker math'.
    - zacker 17y ago
      Motivation and conviction could have rightly trumped justification.

by zacker 17y ago

adw 17y ago

What community? Okay, I'm not in the Valley, but businesses are in business to do business - to make money for their shareholders. Arguing against that as a reasonable motivation is disingenuous. You can disagree with the business decision; that essentially amounts to "I think their expected value is >$170m and I'd take their risk profile". Fair enough. But if you're arguing it on any other basis than that, then you're substituting your morals for economics, and what's more, your morals for those of all the individual shareholders. Not cool. Isn't it easiest to just assume that Facebook and Twitter haven't been bought because their equity holders think they make more money doing it their way? They've got a case too; as Twitter's paper valuation climbs past $1bn, the crew there get proved more and more correct.

zacker 17y ago
Do you use Intuit software? Have you tried Mint? Everyone I've talked to that has a Mint account and has been forced to use Intuit software in the past is uniformly dismayed and confused by this acquisition. Banker math surely proves Aaron would have to show real hubris to ignore Intuit's offer, but founders rightly run startups, not bankers. Intuit is a $9B twenty five year old company. Mint could have given them a run for their money. They took the payday instead.
- Evgeny 17y ago
  Do you use Intuit software? Have you tried Mint? Everyone I've talked to that has a Mint account and has been forced to use Intuit software in the past is uniformly dismayed and confused by this acquisition. Looks like a business opportunity then ...
- adw 17y ago
  So you're arguing that Mint can make more by displacing Intuit than by getting bought, and that this is likely enough to offset the risk. Fair enough, judgement call. But what justifies it? 'Banker math'.
  - zacker 17y ago
    Motivation and conviction could have rightly trumped justification.