GoRudy

I had this idea ten years ago. Told my parents it’d be nice to say “have a good day” and my moms initial reaction was she’d say “** you”. End of that idea.

Looks like this was developed and designed by the same team that handled the trump accounts and I found that very easy to setup and use for my kiddo. Shockingly functional and intuitive I had low expectations.

I’m cautiously optimistic for this simply bc of the team behind this.

I might be missing something, but I couldn’t find any actual investment terms tied to this. I'd expect at least basic clarity on things like what investment terms (valuation etc) would be offered?

Depends on the health issues. In the US, northeast and Florida at least there are many free courts almost everywhere. And plenty of older folks with small or medium health issues still find the time and motivation to play.

the reason G/O failed was due to leadership. Full Stop.

the audience that was assembled was actually impressive and the PE money was used correctly to build an interesting portfolio of sites.

From there it was an operational disaster. All the important sites they had have been acquired by better run companies which confirms that the underlying assets were pretty good, they just needed to be run by someone else.

On good authority here's a good example: They have one of the top car blogs in the world, and had zero dedicated auto ad sellers. Anyone who knows auto in advertising knows you need people in LA and Detroit full time on the agencies and OEMs.

Having personally invested in 100+ startups I can say the tax benefits are never part of the calculation.

they dont they've sold nearly everything. pe group that backed them was the source of funding

That's not how these things work. When a company sells an asset the funds go back to the company that sold that asset. So if the "seller" has debts or other obligations those still remain and proceeds from the sale would go towards satisfying those. However, in this case it sounds like the deal was largerly about the employee costs + some cash to the sellers.

Nothing about that article surprises me regarding G/O but there is one point that Zach makes about his transaction that he is wrong about:

"Thanks to G/O's stubborn insistence that it only wanted Quartz's assets and not the corporate entity"...

this is not stubborn it's quite common and is absolutely the right thing to do for many companies interested in another business. If they buy your entity (stock transaction) it comes with all the legal liability.

Zach probably doesn't understand how much more likely his deal was to close as an asset purchase rather than a stock purchase. A stock purchase comes with lots more diligence and legalese. If they are buying your stock they are buying all your baggage and potential legal matters, it requires a lot more work including a laundry list of representations by the seller. G/O did everyone a favor by sticking to an asset purchase and getting the deal done. that's where the positives end it seems.

Same. Bought this immediately for that exact reason.

I love the way he's thinking about this. I think the subscription estimates are a little optimistic and the payroll is too high but overall it makes sense.

Looks like it only takes CSVs, how would we upload documents from brokerage accounts?