Exceptions to the rule. Precision Castparts, Burlington Northern, Clayton Homes, Duracell, Pacificorp, Lubrizol, Acme Brick, Dairy Queen, Pilot Flying J, all were bought as healthy companies.
I worked for a Berkshire subsidiary before jumping into tech. First hand, it is zero bullshit that they invest in good management teams and let them run the business. The best run company I’ve ever worked at is one of these - Berkshire got ‘em when they were out of cash and almost about to fold, and they are overwhelmingly successful today with a stable management team with mostly internal succession. Having also worked at some startups that HN absolutely loves, it’s not that different than soaking up VC cash - it’s still outside money, and you still need a great leadership team to get to profitability.
TBD per John Oliver: https://www.youtube.com/watch?v=jCC8fPQOaxU
It's like Payday loans.
I imagine this company will just get bigger, and bigger.
I wish our government would revisit every law concerning high interest loans.