u/Swami218 wrote (the comment Michael replied to):
I think Eric is putting as positive a spin as possible on the situation, but it’s a bridge too far to say it’s a lie - he did co-found the company and it was acquired by Disney/ESPN. Was he a key part of the deal? Maybe not, but even the practice squad gets a Super Bowl ring. It
u/michaelnovati replied · ★ FEATURED
/u/Swami218
I'm not trying to harp on this too much but I saw this today and it reminded me of Fanzter.
[https://www.theverge.com/2023/12/21/24011448/hyperloop-one-shut-down-layoff-closing-elon-musk](https://www.theverge.com/2023/12/21/24011448/hyperloop-one-shut-down-layoff-closing-elon-musk)
"The company is selling off its assets, closing down its offices, and laying off employees. It will formally close at the end of the year, at which point all of its intellectual property will shift to its majority stakeholder, major Dubai port operator DP World"
This is fairly similar to what happened at Fanzter, company shut down, staff left and got normal offers at ESPN, Fanzter Inc, Coolspotters all essentially stopped. Sold off some IP to make investors whole.
The typical person characterizes this as a "shut down" and not a "sale".