Matterport - the news didn't make sense - maybe here's why11619
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 WGANStandard Member Los Angeles |
Home3D private msg quote post Address this user | |
| When Matterport announced the layoff of 1/3 of their employees, didn't this seem odd at a time that everyone seems to be discovering the value of Virtual Tours? Maybe this will help. (source redacted) "MP is sinking. They didn't get their round of funding in Jan that they had had told us all that they were sure they would get. They are in the middle of 2 class action lawsuits that they are going to have to pay out on. They just got rid of 1/3 of their employees blaming it on Covid when it had nothing to do with that. They took away most of the benefits (raises, 401K matching, stock options, free lunch, etc.) The writing is on the wall. Want to wager when the acquisition will happen or who it will be?" Explains a lot, doesn't it? My father was one of the pioneers of television advertising. He coped through the Great Depression and rose to head the business department of the 4th-largest ad agency in the U.S, which he ran for 25 years. Dad had only one semester of college, but had two dozen attorneys working under him. He had common sense. Before he passed away (at 101) he told me that his primary criteria for hiring was that anyone with a college MBA went to the bottom. He wanted people with practical experience, who knew how to make things work, rather than heads filled with theories about how businesses should be run. Matterport failed this lesson. |
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 WGAN FanClub Member Buffalo, New York |
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 Photo - VideoEditing Service |
PhotoAndVideoEdits private msg quote post Address this user | |
| You hit the nail smack bang on the head. You cant teach common sense. I'll take that over a Masters any day when hiring someone..... | ||
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Garnetwest private msg quote post Address this user | |
| Great post!! @Home3D | ||
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North Canton, Ohio |
JHFoust private msg quote post Address this user | |
| @Home3D - Your father was very wise. Unfortunately, he is stating a fact many of us have learned through the years, the hard way. I appreciate you sharing that. I'm concerned, but optimistic that something positive will come of all of this. Now is not the time to lose this technology! I believe we are setting on the edge of a boom. In a major way, we are a huge part of the future of Real Estate. |
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WGAN Standard Member Los Angeles |
Home3D private msg quote post Address this user | |
| Competition spurs innovation. Remember AOL? Then Yahoo? Then an upstart called Google? It was once the new guy on the block. The faster we, who were MSPs, all switch to EyeSpy360, NodalView, 3DVista and others, the better we build the Virtual Tour universe. Matterport wants to own the universe, then rent it back to us at a cost we can’t live on. It will fail, and we have the power to accelerate evolution. We are in control, not Matterport, but only if we choose to be. The future depends on what we do in the present. - Mahatma Gandhi |
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 WGANBasic Member Seattle |
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| My dad says the same thing about common sense (he’s 96) and it’s so true! Thank you! | ||
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Ianx private msg quote post Address this user | |
| My Dad was a GP and he always told us ‘leave it alone - it’ll either get better, get worse or it will stay the same’. | ||
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coulee360 private msg quote post Address this user | |
| If this is true, then Matterport needs to stop fucking over all its main core buyers (anyone who's shelled out thousands for their camera) and is an MSP. Instead of screwing us at a time like this and for them. They need to help build us up. Allow us to grow our own companies using their technology. The more shoots I do, the more money I make, which also allows them to make more money as more tours are being done. It's a domino effect. Again they became all about the corporate greed and not about their clients. You see it too many times in the news in the last 20 years. Companies want to grow way to fast and quickly drain the investment money and then keep going back asking for more. |
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Changesin3d private msg quote post Address this user | |
| If this is "TRUE" and I have no reason to not believe it, why was the FUNDING canceled? It makes me think. I have seen some corporate mergers and when the buyer are doing their due diligence they look at all liabilities. And some of that is any pending public relations issue, like what they are doing now, and the another is lawsuits, they can be a drain and effect value. Did GEO Cv do this to them? Has Matterport dropped that lawsuit. Are there other looming issues besides GEO CV. The thing about laying off a big section of your company lots of people are going to be upset. They have no reason to be quiet. I bet as the fired guys see this post someone checks in and shares why the funding was canceled. Was it GEO CV or something else? |
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MeshImages private msg quote post Address this user | |
| @Changesin3d The funding was canceled, because RJ Pittman invested all the investor's money in the wrong direction. Nobody wants to scan cheap looking 3D models with 360 cameras. These 3D models (from 360) do not look like Matterport, they look really cheap, they do not fascinate. But Matterport used to fascinate people, this is why investors gave Matterport the 140.000.000 USD to continue to fascinate people. But Pittman never understood this. He does not know the product. He does not know how to scan. He probably has not yet created 10 models. He never wished to have a ceiling trim tool. |
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Changesin3d private msg quote post Address this user | |
| @MeshImages I have seen some of this happen in the CORP world and although I like your approach and agree with your points, I am not sure that is the reason. They could have / may have funded and insisted the R.J leave if they had wanted to, that could have been entirely possible. But who knows for sure. I would look under the leaves for lawsuits or other liabilities. This company has a board of director and if R.J. were the problem then may have been about to dismiss him. I think that is what happened to the prior CEO... I really do not know. | ||
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MeshImages private msg quote post Address this user | |
| @Changesin3d Investors may have a bad image, they may be greedy, but early stage investors are not stupid. You can ask yourself: would you invest another 100.000 USD into Matterport? Would you buy another Matterport camera? Would you make another bet on Matterport with this ridiculous pricing model? Matterport stopped growing. The Facebook MOUG Group sticks below 10.000 users for a very long time now. Most clients/MSPs are not happy with the pricing model. Matterport is not selling more cameras. 360 capture is a flop. And users are not sharing the excessively branded 3D-tours in social media. RJs strategy may have led to more registered (free) subscribers. But the key indicators of success for the Matterport Media Company seem to be not moving: Overall Impressions, Visits and Unique Visitors. |
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