News for hackers. Stuff that matters.

A comment on Elizabeth Holmes is on trial for fraud, but don't forget about her VC enablers. Parent comment

Re:Elizabeth Holmes is on trial for fraud, but don't forget ... by 1986 on Friday October 22, 2021 @09:49AM (#28957157)
Can you talk more or provide a link about what's going on with Aspiration? All I was able to find is that they're going the SPAC route, would like to understand more about any specific sketchiness.
[ Parent | on HN ]
Re:Elizabeth Holmes is on trial for fraud, but don't forget ... by matwood on Friday October 22, 2021 @10:13AM (#28957420)
https://www.profgalloway.com/jumping-the-spac/

Over in reality, the company’s operations burned $34 million in 2020, and they’re projected to burn $133 million in 2021. In the rest of the deck, Aspiration refers to its “EBITDAM profitability this quarter” and then uses EBITDAM throughout its financial analysis. Which is rich for a company whose entire (projected) profit model is dependent on explosive customer acquisition, which (to date) has been really, really expensive.

And I just love comments like this hah

This is a firm that registered less than $15 million in revenue last year. PayPal makes $15 million in revenue every five hours. It’s less than most NFL starting quarterbacks made in 2020 — Leo’s former girlfriend’s husband made over twice that.

[ Parent | on HN ]