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Instant Pot maker seeks bankruptcy protection - NPR (www.npr.org)

submitted 1 year ago by kurosawaa@lemmy.world to c/news@beehaw.org

17 comments fedilink hide all child comments

Pretty shocked to see this with how ubiquitous they've seemed these last few years. Of all the recent kitchen gadgets this is one of the few that felt genuinely useful to me.

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[–] Tastyzero@beehaw.org 11 points 1 year ago (1 children)

Only speculating but I think this is a symptom of late stage capitalism. Companies are staking enormous risk on leveraged finances to achieve impossible stock prices. And if they miss, they're done. They collapse and get rolled into giant multinationals to funnel even more money to the top.

[–] kurosawaa@lemmy.world 2 points 1 year ago

Its always been like this though. Back in the 60s no one would have thought the Victor Company and RCA were approaching deaths door step, but they made a few big mistakes and got out competed in just a short time.