Comment on Founder of 23andMe buys back company out of bankruptcy auction

avidamoeba@lemmy.ca ⁨9⁩ ⁨months⁩ ago

• TheTechnician27@lemmy.world ⁨9⁩ ⁨months⁩ ago

  OP, you linked to the comments instead of the top of the article. 💀

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  • Krauerking@lemy.lol ⁨9⁩ ⁨months⁩ ago

    Ah dang you did point it out. They even just copied the top comment there, unless they are ColdWetDog.

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    • lka1988@lemmy.dbzer0.com ⁨9⁩ ⁨months⁩ ago

      At least they quoted it.

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• ThePantser@sh.itjust.works ⁨9⁩ ⁨months⁩ ago

  So fraud? They defrauded the investors by destroying it. I bet she sold before the news the company is going under.

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• CompactFlax@discuss.tchncs.de ⁨9⁩ ⁨months⁩ ago

  You missed 2. Sell (IPO)company

  I’m not sure what he actually did as far as divestiture, but evidently he wasn’t the current owner. I wonder to what degree unreasonable growth expectations flushed the company.

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  • newnton@sh.itjust.works ⁨9⁩ ⁨months⁩ ago

    She

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• driving_crooner@lemmy.eco.br ⁨9⁩ ⁨months⁩ ago

  In the capitalist system, the investors deserve all the profits because they’re the ones risking everything, or something like this, I’m not an economists.

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  • Knock_Knock_Lemmy_In@lemmy.world ⁨9⁩ ⁨months⁩ ago

    Bondholders are having a haircut.

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  • avidamoeba@lemmy.ca ⁨9⁩ ⁨months⁩ ago

    Yes, and the workers risk nothing, or something like that. 😂

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    • rigatti@lemmy.world ⁨9⁩ ⁨months⁩ ago

      I get the sentiment and I’m all for workers sharing in profits, but what do they really risk by working at a company? Sure, the company can fail and they might be stuck in a bad situation, but shareholders and owners probably have it worse in that scenario, right?

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      • dejected_warp_core@lemmy.world ⁨9⁩ ⁨months⁩ ago

        Workers risk a few things, depending on the job:

        • Health
        • Time
        • Opportunity (could be working someplace else that’s better)

        These have a lot of dimension to them, including how one quantifies what “pay” actually is/for, what legal restrictions there are around taking the job (e.g. non-compete, non-arbitration), work/life balance, and so on.

        Risk comes into play where the employee takes a bet that the job won’t destroy their health, work only as much as is absolutely necessary, and have taken a position at the optimal balance of responsibility, personal growth, retirement prospects, and income. It’s a risk since there are substantial barriers to changing to a new job, so you can wind up “stuck” in a bad position, but can’t know until after you start.

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      • driving_crooner@lemmy.eco.br ⁨9⁩ ⁨months⁩ ago

        Workers give their entire lives.

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      • atomicbocks@sh.itjust.works ⁨9⁩ ⁨months⁩ ago

        Remind me, who is it that gets laid off first when the line starts going down…

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      • pebbles@sh.itjust.works ⁨9⁩ ⁨months⁩ ago

        Depends, are considering the fact that 90% of stocks are owned by the top 10% of Americans? Also are you considering that being in the top 10% means you likely have rich friends and family that could bail you out? I think black rock is going to be fine.

        Most businesses aren’t like my friends parents little Chinese restraunt.

        To me using the, “think of the shareholders” line is silly for a reason. The biggest privileges is the privilege to make mistakes without becoming impoverished. Workers have it much harder in that respect.

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    • SMillerNL@lemmy.world ⁨9⁩ ⁨months⁩ ago

      I’m pretty sure the users risked a lot too for this one

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• MrNesser@lemmy.world ⁨9⁩ ⁨months⁩ ago

  Debts are gone might as well

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