Video, slide transfer business?

[lordsmurf]

Quote:

Originally Posted by latreche34

What people don't realize is that all that mass advertising of millions of dollars is coming from the customers' pockets or from the quality itself by just setting up easycaps outputting mp4 to cut costs.

I'm actually inclined to believe they took out a loan for one last push before it implodes in their faces. The bottom feeder market is tapped, and there's no way they'll land quality clients. The TV scare tactics ("are your tapes degrading!") and site tactics ("preserve your past before it's too late!") won't work on educated and savvy (like the investor class watching CNBC).

Businesses like this smell of ponzi scheme, where the employees and customers are bled dry, the owner takes the money, and then debt (other people's money) is used to run the business -- until bankruptcy. I've seen this so many times over the decades. I get that vibe here. Just look at the founder of the business, a self-described "serial entrepreneur" with no known video expertise, and he has a college degree in religion.

I have a good BS-o-meter.

[latreche34]

Quote:

Originally Posted by lordsmurf

Businesses like this smell of ponzi scheme, where the employees and customers are bled dry, the owner takes the money, and then debt (other people's money) is used to run the business -- until bankruptcy. I've seen this so many times over the decades.

I've known people personally who lost their 401k and stocks from businesses like these, and the thief walks out free after filing for ch11 and reorganizing for the next scheme.

[lordsmurf]

Quote:

Originally Posted by latreche34

I've known people personally who lost their 401k and stocks from businesses like these, and the thief walks out free after filing for ch11 and reorganizing for the next scheme.

Chesapeake Energy (CHK) really pissed me off. I had stock in it, and it went bankrupt in 2020 (unlike their peers, who were also in bad shape that year). The bankruptcy was rushed through the courts, and emerged from Chapter 11 within mere months. Business as usual again, nothing changed. Within 5-10 years, they'll probably do it again. Rinse, repeat. Stock holders, debt holders, customers, employees -- all screwed over. SA comments are all along the lines of "[CHK] is run by a pack of thieves", and what they did "should be illegal". After the bankruptcy, there was this story (on Seeking Alpha? Bloomberg? Forbes) about how money was wasted on company cars, strip clubs, fancy dinners, etc. I forget all the details, can't find it anymore (buried in SERPs, I'm sure).

Did you ever see how the bankrupt Hertz (HTZ) tried to sell new shares after declaring bankruptcy?! The SEC swatted that BS down ASAP.
https://www.forbes.com/sites/danrunk...eur-investors/

When a company uses scare tactics to drum up business, isn't good to employees, etc, you know something is amiss. Like I said, read all the Indeed/Glassdoor/etc reviews. It's not just the disgruntled workers, even the positive ratings have common negatives.

I can read between the lines.