I have two Flip cams and one Panasonic HD Video Cam. Two of the cams are now highly desirable as collectibles and the other one creates good quality video.
Cisco paid $520 million for Flip. It was a mistake. Cisco got away from their core business and the Flip wasn’t going to take them anywhere they couldn’t get by selling switches and routers and networks to access the high quality video such as show above taken by yours truly of Robin Meade of Morning Express with Robin Meade tweeting while waiting to perform at the Listening Room in Nashville.
This kinda illustrates why you and me are paying more individual taxes. The corporate biggies buy a company for multiple-millions (great name for a new lottery!) and then when it doesn’t meet expectations, they just close it down and take a loss. That loss is used to offset profits lowering their tax bill.
I’m pretty sure I’m right on this.
Otherwise, why would Cisco just shut down The Flip? It was a cool little cam and they had an awesome idea in the pipeline – The Flip would have had capability to live-stream an event.
That other guy says that Cisco just wanted The Flip company for it’s technology.
I like my reason better.
I’m gonna go buy a Multiple Millions Lottery Ticket.