See, there is life beyond spinning dust. Good luck over there!
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Would love to see the Seagate logo replaced by Luminar's as soon as possible.
So it's offical, the lidar group got spun off?
Yeah, "game changer" my a.... The last push was to be able to manufacture it cheaply on FoF. Similar size, top down design, meets FoF DFM requirements all that. Looked all great but unable to get top management buy-in. Money is needed for next quarters' dividend. Way more important. Company runs paycheck to paycheck. Doomed.
All I heard over the last several years is this lidar was a "game changer" and "no one can come close to our price". If it were truly a viable product, they would have already been selling units left and right after all these years. I'm guessing the true "product" was selling the theme that "we are more than a disc drive company" to investors.
Great news! That will pay about 30 days worth of dividend.
50 million. This deal likely won't get mentioned in today's results conference call.
How many of those dollars are patents alone?
50 million. Seagate did not get the better end of that deal. I bet with cost of employees, cost of the lab and equipment, they didn't even break even. What was the CEOs response? "I don't really know anything about LiDAR". We lost some really great employees to a terrible deal and he didn't even blink.
Maybe Seagate can sell all employees and products to another company and become a facilities rental company. Think of the cost savings!