News for hackers. Stuff that matters.

A comment on The Berkshire Hathaway of the Internet (2017).

Re:The Berkshire Hathaway of the Internet (2017) by sfobiab on Saturday October 09, 2021 @07:01AM (#28808750)
Andrew Wilkinson recently took a company public in Canada through a reverse takeover https://www.google.com/search?q=CVE:+WE

Very early in the life of the company they have undertaken some pretty dishonest accounting of their revenues, net retention and other key metrics. The CFO resigned after the first reporting quarter.

I have a strong feeling there is more to this character than just the recycling of virtue filled business models.

Buyer (seller) beware.

[ Parent | on HN ]
Re:The Berkshire Hathaway of the Internet (2017) by tobyjsullivan on Saturday October 09, 2021 @11:33AM (#28810736)
Just for my own edification, is the suggestion here that a reverse takeover is inherently dishonest? I'm asking out of genuine ignorance.

I read up on reverse mergers a while ago and couldn't get a read one way or the other - felt kinda similar to a direct listing (which I understand even less). Anecdotally, the company that was considering doing it seemed suss af.

[ Parent | on HN ]
Re:The Berkshire Hathaway of the Internet (2017) by wbl on Saturday October 09, 2021 @01:07PM (#28811497)
It's a way to avoid the scrutiny of most paths to take a company public. See also the billion dollar deli.
[ Parent | on HN ]
Re:The Berkshire Hathaway of the Internet (2017) by moneywoes on Saturday October 09, 2021 @10:18AM (#28810066)
Guy is a great writer though
[ Parent | on HN ]