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Instant Pot's Parent Company Files for Bankruptcy (www.theverge.com)
submitted 1 year ago by G0ldenSp00n@lemmy.jacaranda.club to c/technology@beehaw.org
7 comments fedilink hide all child comments

Honestly quite shocking news given their success, but I guess it's what happens when you chase tech company profits.

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[-] SkepticElliptic@beehaw.org 0 points 1 year ago

That's problem with being a one hit wonder. They had a decent product that became popular. Unfortunately there's only so many people who are in the market for a countertop pressure cooker.

Although there's plenty of other companies in the space like KitchenAid that have survived over the years.

[-] AnotherPerson@lemmy.world 0 points 1 year ago

Oh look. Another successful company that couldn't manage their own success. Capitalism is going great.

[-] samick1@sh.itjust.works 0 points 1 year ago

It's not how they managed success, it's that they ran out of it. Making a successful niche kitchen appliance is not a business, it's one of many things that a successful niche kitchen appliance business does.

Successful businesses also allocate capital optimally, build formidable brand and product moats, hire amazing managers and build fortified balance sheets. They forgot to do all that stuff. (See also: reddit)

[-] AnotherPerson@lemmy.world 0 points 1 year ago

undefined> Successful businesses also allocate capital optimally, build formidable brand and product moats, hire amazing managers and build fortified balance sheets. They forgot to do all that stuff. (See also: reddit)

Otherwise known as managing success. Once you have a successful cash flow you need to diversify it and build your business to have multiple cash flows.

[-] samick1@sh.itjust.works 0 points 1 year ago

I'm undefined? 😟

Otherwise known as managing success. Once you have a successful cash flow you need to diversify it and build your business to have multiple cash flows.

Semantics I guess. Di-worse-ification isn't always the answer. They had a large product lineup, which was probably more expensive for them than it needed to be. They went under because they failed to fortify their balance sheet... rates went up and their debt crushed them.

Capitalism works fine just turning a profit while plenty of companies die chasing growth. It's just part of it.

[-] AnotherPerson@lemmy.world 0 points 1 year ago

For some reason the software inserted the "undefined" when I tried to quote your post. Growing pains of a new site I guess.

[-] samick1@sh.itjust.works 0 points 1 year ago

🤣 I didn't think you were trying to tell me something, I figured the Lemmy code goofed somewhere.

this post was submitted on 13 Jun 2023
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