So here’s the pre-Covid business model.
Investment funds and companies awash in liquidity dispense their cash liberally to Silicon Valley companies whose names are intentionally misspelled and chronically short on vowels.
They hope they’ll invest in a so-called unicorn company that will yield massive returns, and in the process recoup many times over the losses to companies of snake oil salesmen that were also funded during the unicorn search.
Wow.
I saw that Documentary.
The Theranos Story certainly was the proverbial “Cautionary Tale”.
Back to the original question:
I think that after getting rid of Glassman; if they clean up the Corporate Climate created by him; and lure back sponsors; I think Crossfit not only survives, but comes back stronger.
Big “ifs”…but I don’t think they are insurmountable ones.
(P.S. I am FAR from being a “Crossfitter”).
Yeah, I’d agree. I haven’t looked into the buyer at all, but if the new owner is anywhere near a real businessman they should rocket back after the refractory fallout ends.
Most of these tech “ceos”, especially the ones whose company description requires a compsci degree to decipher, don’t know shit about actually running a business. That’s why many vc firms insist on getting as many board seats as possible.
Most likely true. On the other hand I think you’d be hard pressed to find someone less businesslike than Glassman, so it’s equally probable that he’s quite the upgrade. At least as far as public facing business relations go
Yeah. The guy who owned the box a few doors down from my old shop also owned 2 others, 2 machine shops, a bunch of investment properties, etc.
I’m just popping in to see how this has panned out.
I wonder where and how the liability and compensation for possible damages will come down.
Like, on Glassman and other execs. personally, upon the corporation as an entity, upon the new owner/Corp.?
Should be interesting. New owner might have just bought a giant liability depending on what comes out about the corporate culture.