A Lot of Supposedly "Successful" Businesses Are Just Debt-Racking Vessels Without Any Prospects of Financial Sustainability
Older: Sheela Zemlin's Company Has Hit All-Time Low, Lost More Than 90% of 'Market Value' in Only Months | Linux Foundation Revenue Plunges ($18,000,000 Decrease in One Year) and Jim Zemlin's Wife Has Her Company Sued for Securities Fraud (Class Action)
The probability of bankruptcy of any business is more than 0%. I've lived long enough to see businesses which one year claimed to be worth absolutely astounding sums and vanished from this planet just months later. They basically defrauded whoever bankrolled them. Where did all the money go? Who stood the benefit? Was anyone sentenced to prison? Heck, even the wife of Jim Zemlin from the Linux Foundation did that. In recent years we saw companies like Workday Inc (WDAY) announcing "success" while getting rid of many workers - a contradictory message/signal for sure. In the case of "Open" "hey hi" (basically a Microsoft 'offshoot'), the company privately admits it's spinning out of control, drowning in an ocean of debt. Publicly, however, Scam Altman behaves like he and this 'company' are worth trillions. He's a scammer. Heck, his sister sued him for sexual abuse, yet the media doesn't seem too bothered about that. Yes, trust that guy!
Earlier today we wrote about Microsoft, which laid off about 30,000 workers so far this year and whose debt continues to skyrocket (despite those mass layoffs). So on what basis does the Wall Street media assert that it's the second-most valuable company in the world? We see a ton of fake news today. In the case of NVIDIA, the ascent was temporary as it's strictly tied to a giant bubble (rebranding GPUs as "hey hi chips" and asserting that slop is the future).
Don't be so shocked to see fallen giants. Intel is just one example. It failed to fake. The faking didn't last long enough. █