TLDR
How to Say No to $23b
Jul 30, 2024
A company turned down Google’s jaw-dropping $23 billion offer, showcasing their confidence in future growth and an upcoming IPO. The conversation dives into the regulatory hurdles tech firms face when acquiring others and reflects on past missed opportunities. The episode also highlights the surprising success of Altria, a tobacco leader, amidst skepticism. Finally, it humorously relates tough decision-making to resisting cookies, while debating Universal Basic Income's role in the economy and the future of work.
24:00
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Quick takeaways
- Wizz's rejection of Google's $23 billion offer underscores the importance of long-term vision and strategic positioning over immediate financial gain.
- The debate on Universal Basic Income highlights its potential benefits for health and education while also sparking discussions about its impact on the labor market.
Deep dives
Wizz's Bold Decision Against a Huge Offer
Wizz, a cybersecurity company specializing in cloud-based applications, recently turned down Google's staggering $23 billion acquisition offer despite being valued at $12 billion. This decision is intriguing given Wizz's rapid growth, as they achieved $100 million in revenue within 18 months of founding and serviced 40% of the Fortune 100 companies. The founders, with previous successful exits, believe they can achieve even greater value through an IPO and are wary of the regulatory landscape surrounding big tech acquisitions. Their choice may also act as a clever negotiation tactic, keeping them at the center of tech discussions.
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