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Explain how RH could vanish even if IBM fails/falls apart. I don’t see any scenario where that would happen, sorry. I’m not sure you understand just how entrenched RHEL is in ISP/telecom/Enterprise/finance/banking/insert-pretty-much-anything-here is..

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RedHat revenues likely aren't enough to keep all of half-IBM afloat. It's vaguely possible that IBM could go into Chapter 7 if things go badly enough. That's the worst-case scenario I was speaking to.

Ok I get that part, but surely Red Hat/RHEL itself wouldn’t perish as a result?

If a company goes into chapter 7, the entire company is disbanded and its assets are sold off. In that scenario, Red Hat, as a division of IBM, would cease to exist.

Perhaps. My point is that Red Hat will still thrive under whatever parent company they wind up in. Red Hat would still be a thing. A very huge thing, and still a very huge moneymaker. Red Hat doesn’t disappear.

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