Welcome, Guest. Please login or register.
December 19, 2018, 12:31:30 AM

Login with username, password and session length

Search:     Advanced search
Donate! | Shop: Amazon
*
Home Help Search Login Register
f13.net  |  f13.net General Forums  |  General Discussion  |  Serious Business  |  Topic: $400 WiFi-enabled 4-ton-force juicer's $120 million fail 0 Members and 1 Guest are viewing this topic.
Pages: 1 ... 8 9 [10] Go Down Print
Author Topic: $400 WiFi-enabled 4-ton-force juicer's $120 million fail  (Read 23951 times)
Tale
Terracotta Army
Posts: 7311

sıɥʇ ǝʞıן sʞןɐʇ


Reply #315 on: August 15, 2018, 09:01:51 PM

In the late 1990s, venture capitalists and investors pumped $35 million into a dotcom called Pixelon that claimed to have perfected video streaming technology (which was then new).

It spent $16 million of that on a product launch called iBASH '99 hosted by David Spade and Cindy Margolis at the MGM Grand Las Vegas, featuring Chely Wright, LeAnn Rimes, Faith Hill, Dixie Chicks, Sugar Ray, Natalie Cole, KISS, Tony Bennett, The Brian Setzer Orchestra, and a reunion of The Who.

Pixelon's stream of the event failed to work on its own software. A few people managed to access it via Microsoft streaming software. Because Pixelon did not actually have a working product. Its CEO Michael Fenne turned out to be a convicted conman called David Kim Stanley. People who visited the company reported that he summoned staff to prayer meetings over an intercom with "This is the Master speaking..." and signed emails as Big Giant Head of Pixelon.

Are we back there yet? Because that's when the crash happened.
Trippy
Administrator
Posts: 21020


Reply #316 on: August 15, 2018, 09:22:07 PM

$35 million is peanuts compared to the $724 million that Theranos raised.
Abagadro
Terracotta Army
Posts: 11652

Possibly the only user with more posts in the Den than PC/Console Gaming.


Reply #317 on: August 15, 2018, 09:32:43 PM

Quote
Those are the top end numbers, but as the article notes there was a reverse 250-1 split on the stock. Which means that they took 250 of every stock and replaced it with 1 (in order to keep it from being delisted by NASDAQ). So the actual price jump was 132 dollars to .02 cents

Not exactly. Price wasn't 132 dollars and then went down. It posted a quarterly $132 dollar per share loss.

The 250-1 reverse split happened 3 weeks ago to bring the share price up to $21 per share. That newly minted share, which used to be $21 dollars and replaced 250 previous shares, is now worth 5 cents.

"As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron.

-H.L. Mencken
Paelos
Contributor
Posts: 26840

Error 404: Title not found.


Reply #318 on: August 16, 2018, 10:35:13 AM

In the late 1990s, venture capitalists and investors pumped $35 million into a dotcom called Pixelon that claimed to have perfected video streaming technology (which was then new).

It spent $16 million of that on a product launch called iBASH '99 hosted by David Spade and Cindy Margolis at the MGM Grand Las Vegas, featuring Chely Wright, LeAnn Rimes, Faith Hill, Dixie Chicks, Sugar Ray, Natalie Cole, KISS, Tony Bennett, The Brian Setzer Orchestra, and a reunion of The Who.

Pixelon's stream of the event failed to work on its own software. A few people managed to access it via Microsoft streaming software. Because Pixelon did not actually have a working product. Its CEO Michael Fenne turned out to be a convicted conman called David Kim Stanley. People who visited the company reported that he summoned staff to prayer meetings over an intercom with "This is the Master speaking..." and signed emails as Big Giant Head of Pixelon.

Are we back there yet? Because that's when the crash happened.

Yes, we're very close to the crash. All my friends and compatriots have abandoned the market completely and we're holding the money in cash and/or real estate holdings with rental incomes.

EDIT: I've said before, I'll be SHOCKED if it's not in 2019. I'm seeing full-money stupidity at massive levels. The banks are investing in horrible real estate deals. Stuff is half-sold or half-rented and they just keep building more and more for the elite, and next to nothing for the middle or lower classes. It'll implode because there's not going to be enough growth to handle it, and China's economy along with several other controlled economies is a complete sham. Not to mention most businesses are sucking up cheap money to cover hundreds of sins.
« Last Edit: August 16, 2018, 10:37:07 AM by Paelos »

CPA, Sports blogger, Mount and Blade enthusiast
Braves by the Numbers, my sports blog
HaemishM
Staff Emeritus
Posts: 39564

Prevent all damage that would be dealt to you and other troops you control.


WWW
Reply #319 on: August 16, 2018, 10:46:47 AM

The commercial real estate market in my town is cruising for a crash. They've continued to build swanky new digs when there are TONS of empty office spaces in slightly less desired areas (like downtown where I work) and even with the new spaces, those are at best half-full.

NowhereMan
Terracotta Army
Posts: 6251


Reply #320 on: August 16, 2018, 10:54:15 AM

Woohoo! Looking at global economic crash and Brexit both for next year.

I'm off to start hoarding whiskey because I can't afford gold right now.

"Look at my car. Do you think that was bought with the earnest love of geeks?" - HaemishM
Hawkbit
Terracotta Army
Posts: 5055

Like a Klansman in the ghetto.


Reply #321 on: August 16, 2018, 11:28:57 AM

The commercial real estate market in my town is cruising for a crash. They've continued to build swanky new digs when there are TONS of empty office spaces in slightly less desired areas (like downtown where I work) and even with the new spaces, those are at best half-full.

Even Seattle's market is cooling. Last month was the first month in five years my property value did not increase. As we put the screws to China on tariffs their currency values dropped, so they can't buy as much and they have cooled on buying property. We expected things to plateau here soon, but we didn't expect the Chinese to stop purchasing like they did.
schild
Administrator
Posts: 57574


WWW
Reply #322 on: August 16, 2018, 11:37:28 AM

Haemish lives in Mississippi.
You live in Seattle.

These places have different issues, but tell you what, THEY ARE NOT ALIKE.
Mandella
Terracotta Army
Posts: 783


Reply #323 on: August 16, 2018, 11:39:02 AM

In the late 1990s, venture capitalists and investors pumped $35 million into a dotcom called Pixelon that claimed to have perfected video streaming technology (which was then new).

It spent $16 million of that on a product launch called iBASH '99 hosted by David Spade and Cindy Margolis at the MGM Grand Las Vegas, featuring Chely Wright, LeAnn Rimes, Faith Hill, Dixie Chicks, Sugar Ray, Natalie Cole, KISS, Tony Bennett, The Brian Setzer Orchestra, and a reunion of The Who.

Pixelon's stream of the event failed to work on its own software. A few people managed to access it via Microsoft streaming software. Because Pixelon did not actually have a working product. Its CEO Michael Fenne turned out to be a convicted conman called David Kim Stanley. People who visited the company reported that he summoned staff to prayer meetings over an intercom with "This is the Master speaking..." and signed emails as Big Giant Head of Pixelon.

Are we back there yet? Because that's when the crash happened.

Yes, we're very close to the crash. All my friends and compatriots have abandoned the market completely and we're holding the money in cash and/or real estate holdings with rental incomes.



Yep.
Teleku
Terracotta Army
Posts: 9705

http://tinyurl.com/d89qk7g


Reply #324 on: August 16, 2018, 11:47:21 AM

Woohoo! Looking at global economic crash and Brexit both for next year.

I'm off to start hoarding whiskey because I can't afford gold right now.
Well, with the rate at which single malt has been climbing year after year because of global demand increase (and you can't just suddenly start producing more 15 year scotch), that actually might not be a bad investment.

"My great-grandfather did not travel across four thousand miles of the Atlantic Ocean to see this nation overrun by immigrants.  He did it because he killed a man back in Ireland. That's the rumor."
-Stephen Colbert
HaemishM
Staff Emeritus
Posts: 39564

Prevent all damage that would be dealt to you and other troops you control.


WWW
Reply #325 on: August 16, 2018, 11:49:05 AM

Haemish lives in Mississippi.
You live in Seattle.

These places have different issues, but tell you what, THEY ARE NOT ALIKE.

Yeah, it'll be much fucking worse when the shit goes tits up here. Outside investment from the Chinese isn't really a thing here. This is all local developers pissing away the money they borrowed from their dumbass local bank buddies at the yacht club.

Hawkbit
Terracotta Army
Posts: 5055

Like a Klansman in the ghetto.


Reply #326 on: August 16, 2018, 12:37:13 PM

I didn't mean to imply they are the same at all, apologies. Seattle has been very insulated economically for at least 30 years. We took a bath on trying to sell our Ohio house in 2014 after trying to be distance landlords. During the 2008 crash Seattle housing prices at worst plateaued and we might get away with only a plateau or minor dip as crash 2.0 begins here soon.
Trippy
Administrator
Posts: 21020


Reply #327 on: August 16, 2018, 12:58:13 PM

Woohoo! Looking at global economic crash and Brexit both for next year.

I'm off to start hoarding whiskey because I can't afford gold right now.
High-end Japanese whisky is where it's at if you want to speculate (and can find it).

Well, with the rate at which single malt has been climbing year after year because of global demand increase (and you can't just suddenly start producing more 15 year scotch), that actually might not be a bad investment.
To deal with this situation more and more distillers are releasing "no-age statement" expressions to increase their volume while also keeping the prices in check.
schild
Administrator
Posts: 57574


WWW
Reply #328 on: August 16, 2018, 03:56:27 PM

Buy art (good luck).
Chimpy
Terracotta Army
Posts: 8828


WWW
Reply #329 on: August 16, 2018, 05:01:52 PM

The commercial real estate market in my town is cruising for a crash. They've continued to build swanky new digs when there are TONS of empty office spaces in slightly less desired areas (like downtown where I work) and even with the new spaces, those are at best half-full.

Even Seattle's market is cooling. Last month was the first month in five years my property value did not increase. As we put the screws to China on tariffs their currency values dropped, so they can't buy as much and they have cooled on buying property. We expected things to plateau here soon, but we didn't expect the Chinese to stop purchasing like they did.

The tariffs are not most of why the Chinese are not buying as much property, tariffs have not been in effect long enough for that. Xi's "anti-corruption" campaign has been clamping down on people who spent the last 15 years using the money they made in China buying property/cars/etc. in the West. Mainly because most of them were supporters of his predecessors and did not owe their fortunes to him.

'Reality' is the only word in the language that should always be used in quotes.
Brolan
Terracotta Army
Posts: 1015


Reply #330 on: August 16, 2018, 09:06:21 PM

My brother-in-law is an architect in Seattle and he said the real estate market has hit a wall there, with little new sales or related business.   ACK!

He predicts it will sweep the country.  ACK! ACK! ACK!
Chimpy
Terracotta Army
Posts: 8828


WWW
Reply #331 on: August 16, 2018, 09:18:55 PM

My brother-in-law is an architect in Seattle and he said the real estate market has hit a wall there, with little new sales or related business.   ACK!

He predicts it will sweep the country.  ACK! ACK! ACK!

There has been a glut of construction over the last 3-4 years that is almost all the type that isn't needed (mainly luxury stuff) all over the world.



'Reality' is the only word in the language that should always be used in quotes.
Teleku
Terracotta Army
Posts: 9705

http://tinyurl.com/d89qk7g


Reply #332 on: August 17, 2018, 03:53:07 AM


"My great-grandfather did not travel across four thousand miles of the Atlantic Ocean to see this nation overrun by immigrants.  He did it because he killed a man back in Ireland. That's the rumor."
-Stephen Colbert
rattran
Moderator
Posts: 3987

Unreasonable


Reply #333 on: August 17, 2018, 09:39:03 AM

Driving across northern Illinois this week (on back roads, fuck paying tolls) Everything had for sale signs, and there were tons of McMansion developments.  Surprisingly, the same seemed to apply to southern Wisconsin. Collapse imminent.
Khaldun
Terracotta Army
Posts: 9765


Reply #334 on: August 17, 2018, 02:31:01 PM

Weirdly enough, one of the five tightest real estate markets in the country is Nebraska, but there's a bunch of local reasons for that rather than the sudden desire of most of the country to live there.

I think real estate is another of those things too big to fail, in some sense. A lot of the excess cash sloshing around global markets has been quietly dumped through holding companies into buying stuff left vacant in 2008, and I think some of that money is still out there looking to buy everything it can, simply as an investment hedge.
calapine
Terracotta Army
Posts: 5660

Solely responsible for the thread on "The Condom Wall."


Reply #335 on: September 15, 2018, 10:35:56 PM


Restoration is a perfectly valid school of magic!
MahrinSkel
Terracotta Army
Posts: 9621

When she crossed over, she was just a ship. But when she came back... she was bullshit!


Reply #336 on: September 15, 2018, 11:12:18 PM

Welcome to the future. Dystopia to be patched in later.

-Dave

--Jello Biafra: "If evolution is outlawed, only outlaws will evolve."
MisterNoisy
Terracotta Army
Posts: 1833


Reply #337 on: September 24, 2018, 05:42:35 PM


XBL GT:  Mister Noisy
PSN:  MisterNoisy
Steam UID:  MisterNoisy
Pages: 1 ... 8 9 [10] Go Up Print 
f13.net  |  f13.net General Forums  |  General Discussion  |  Serious Business  |  Topic: $400 WiFi-enabled 4-ton-force juicer's $120 million fail  
Jump to:  

Powered by SMF 1.1.10 | SMF © 2006-2009, Simple Machines LLC