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this post was submitted on 05 Feb 2024
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Nortel basically cheated the stock market by buying any company they could to look succesful while publishing not so real numbers in their reports, which caused their stock price to explode for a few years. Investors only care about returns. They don't care if the company goes under after they've made their money
https://youtu.be/I6xwMIUPHss?si=sZ_3mLW5pVBqxk3i
Really good YouTube documentary on the rise and fall off Nortel.
Nortel was like old school AT&T, they got big by doing things properly with reliable, well-designed hardware/software and hiring lots of extremely talented people, and once the money reached a critical mass they started doing super shady shit and traded out all of the talent, passion and loyalty for more money until nothing but a husk was left, and it inevitably collapsed.
Greed consumes all.
Once the CEO started saying "what do we make here? Money!", it was over.
That's a far cry from investors just counting how many job listings the company has on Indeed without knowing if those positions are actually being filled, and if they're new positions or just replacing people that quit