Is this another ESG style scheme that I don't know about? I think you're right overall though. They were diversity hiring like crazy and part of it was them trying to fake growth, it seems to be a common trend even with 'legit' tech companies that have products. It was really noticeable though when it was some pet project someone was doing in order to make it look like a growing company so they could get bought out by something bigger.
Not ESG directly, just an outcome of the near 0% interest rates and QE practices the Fed has kept rolling along for years. If you can get billions of dollars in loans that you only have to pay back at pennies on the dollar, that is basically free money.
Not ESG just weird start ups that knew how to exploit venture capitalists until they couldn't anymore. Things like HQ Trivia which literally had no ability to generate revenue lasting for years by going "well we have so much marketing data!" And then ran out of suckers willing to buy into the company.
I feel like ESG was ironically intended to be some sort of counter to the tradition of companies outsourcing everything to other countries and burning and churning through employees.
Is this another ESG style scheme that I don't know about? I think you're right overall though. They were diversity hiring like crazy and part of it was them trying to fake growth, it seems to be a common trend even with 'legit' tech companies that have products. It was really noticeable though when it was some pet project someone was doing in order to make it look like a growing company so they could get bought out by something bigger.
Not ESG directly, just an outcome of the near 0% interest rates and QE practices the Fed has kept rolling along for years. If you can get billions of dollars in loans that you only have to pay back at pennies on the dollar, that is basically free money.
The other parts of the western world were doing it too and wrecking normal peoples savings, other businesses etc.
Not ESG just weird start ups that knew how to exploit venture capitalists until they couldn't anymore. Things like HQ Trivia which literally had no ability to generate revenue lasting for years by going "well we have so much marketing data!" And then ran out of suckers willing to buy into the company.
I feel like ESG was ironically intended to be some sort of counter to the tradition of companies outsourcing everything to other countries and burning and churning through employees.