this post was submitted on 09 May 2024
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Lmao wat. How the fuck does a company making gaming peripherals rack up a $70 million dollar debt? Pretty rough though, the CEO who ran it for 25 years got stood down over it so maybe he got complacent.
Expand expand and expand...expand on the back of the fleeting interest in Sim racing during covid hoping sales keep climbing and people are lining up to give money any anyone who makes Sim racing gear becusee "muh..max and George and Lando muh racing online".
Then hope that sales climb to overcome the mountain of debt that just keeps accumulating. Couple that with already making a marginally reliable set of products in the years leading up to thr great opportunity.
So you're right, fucking mismanagement and short sightedness.
Their shit can't get any worse with corsair making it.
For the run of the mill person who won't spend a premium for higher quality product, it is ALWAYS a race to the bottom on price of mediocre goods. That means commoditizing everything that goes into the product becuase you can only squeeze profit from cheaper input costs when your target market won't pay premium.