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Thursday, October 29, 2015 8:20:27 PM
The second point is the quality of management. Look at the people who run subscription businesses and compare them to the people who run GrubHub, Plated, and other foodtech businesses. The glamour people avoided the subscription world like the plague. I don't know why but they did. Admittedly, the subscription meal plan business is largely populated by people who can charitably say 'I also attended college'. Some barely finished high school. The monied people just don't find most of them to be of interest.
IMO, the majority of money invested in this industry by the private equity crowd could have done more good if turned into ones and burned for fuel. But you know how trends are. If everyone is buying petrified dinosaur turd rings, then maybe I need a petrified dinosaur turd ring. I have no idea why but shame on me for falling behind. So these idiots invest tens of millions of dollars in businesses that can never make money. I guess that's why they make the big bucks. Look at the geniuses who invested in Organic Avenue. It was shut down about a week ago. 100% investment all gone in two years. More useful idiots who thought the cold pressed juice business was more than a fad. It isn't. When the hipster scum find something else to love, the business is toast. $10 for a glass of juice. Yeah right.
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