Thread

Letterboxd Is Up for Sale, and A24, Sony and the New York Times Are Bidding

77 points · 38 comments · crossroadsguy

reticulates · 1790371290 · focus · HN ↗
I continue to be baffled by this sale. Letterboxd was acquired by Tiny 3 years ago, Tiny’s entire premise is that they hold for the long term. Selling after 3 years is not long term. I don’t understand why Tiny would undermine their raison d’etre unless it’s because the founders (who retain a minority stake) are pushing for it.
Tiny just recently updated their website to emphasize how long they’ve owned each property which is especially confusing given they’re now offloading things <a href="https://tiny.com/companies/letterboxd" rel="nofollow">https://tiny.com/companies/letterboxd
“Tiny's model — long-term ownership, founder autonomy, no pressure to flip the company in three to five years — fit naturally.”
…?
1. OzzyB · 1790371627 · focus · HN ↗
  so you _believed_ them -- that is the only takeaway from this.
  1. UqWBcuFx6NV4r · 1790375401 · focus · HN ↗
    The much more pertinent point is that it is counter to their apparent track record.
    simulator5g · 1790395951 · focus · HN ↗
    Investment firms are apparently not immune to enshittification
2. Grombobulous · 1790372647 · focus · HN ↗
  I imagine that in life and business there’s no such thing as a decision that is never regrettable. I guess it just didn’t work out.
3. dtagames · 1790389294 · focus · HN ↗
  Three years is long term in the tech and VC world.
  At a $300M sale, the project achieved its goal and it's time to exit.

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