[phillco]

> when the Bakers ran Dragon Systems

For those who don't know what happened next, and why Dragon seem to stagnant so much in the aughts, the story about how Goldman Sachs helped them sell to essentially Belgian Enron, months before they collapsed, was quite illuminating to me, and sad.

https://archive.ph/Zck6i

[gcanyon]

That's only the intro. Here's the conclusion: https://www.cornerstone.com/insights/cases/janet-baker-v-gol...

> Professor Gompers opined that at the time the acquisition closed, Dragon was a troubled company that was losing money and had regularly missed its own financial projections. It was highly uncertain whether Dragon could survive as a stand-alone entity. Professor Gompers also showed that technology stocks were on a downward trend, and L&H was the only buyer willing to pay the steep price Dragon demanded. Thus, he concluded that if the company had not accepted the L&H deal, Dragon likely would have declared bankruptcy. The jury found in favor of the defendants and awarded no damages to the plaintiffs.

[Aeolun]

It’s crazy to me they were helped by what were essentially boys right out of college, and they had any faith it would work…

[nerpderp82]

Goldman Sachs is such a wonderful model of what is possible via Capitalism. I think they are holding on what they really could achieve with a little will.

[jonplackett]

Down voters: sarcasm alert!