A young engineer watched his San Diego company get bought by private equity, which installed a CEO with aggressive spending plans but no real investor backing. The CEO lasted a year or two before the whole thing collapsed, leaving only a skeleton operation overseas.
first off, you know, in my career, I was a young engineer working at a company down in San Diego, um, and they got to the point where the founders couldn't, um, couldn't support the business anymore, um, and they, um, you know, they sold it to a private equity company that then, you know, brought in a new CEO and, and, and, you know, tried to figure out what to do with this company. Um, it didn't, it didn't work out so well because the new, the The new CEO came in with a philosophy of, okay, I gotta spend all this money to make this happen, but didn't have the depth of commitment from his investors. Okay. So he lasted, I don't know, 2 years, something like that, a year if he was lucky. And the company didn't make it. You know, it went down to where it was, it's gone. Like there's some little entity of it that's remaining somewhere in the UK or something like that.
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