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These aren’t contradictory: all of those problems are harder to notice when you’re overfunded.

the business would have likely failed anyway, the only difference being it would not have taken so much money with it

I agree... they once had a nice product, but failed to skate to where the puck was going, became a me too company... with no differentiating vision. Go-Pro already pretty far down the same path.

48% margins.