Do you know how banks and VCs work? If not, be prepared for a hard lesson.
10 replies (most recent on top)
VC=vulture capital
Mudrick and friends are definitely not VCs. They are private equity. PE is brutal in general. This particular specialization of PE more so.
I feel like there’s one or two people who don’t like this guy just for poking the bear. The personal attacks are strange, and targeting independent media is weird. At least he’s not afraid to share his name and work publicly.
Dahn, if 2U goes under, what are you going to do with all of your time? Start a garden, volunteer at an animal shelter, build a house? Just curious what your backup plan is.
And, quoting from this website from H.I.G.Europe which is the parent company of Bayside:
https://higeurope.com/bayside/
"Bayside Capital is H.I.G.’s special situations and distressed debt affiliate”.
Which is to say that Mudrick and Bayside both specialize in buying the debt of bankrupt companies at a discount, taking ownership once they hold the debt, and then monetizing the assets so as to make a handsome profit. Based on the Wikipedia description, Mudrick seems particularly good at this. The question that they have not answered in their press release this morning is what do they see as the assets? And how do they plan to monetize them?
Higher ed inquirer is not a source for anything. Pls stop posting that like it is some kind of news website.
The Wikipedia page for Mudrick Capital Management is worth reading in full. Vultures indeed.
Here is how it begins:
"Mudrick Capital Management is an American investment firm and vulture fund specializing in special situations and event driven investing that include investing in distressed securities.[2] The firm was founded by Jason Mudrick, its current Chief Investment Officer, in 2009.[3] The firm is located in New York City[4] and, as of June 2022, managed approximately $3.3 billion in assets.[1]
Mudrick Capital typically seeks an event, such as a balance sheet restructuring, a spin-off of assets or the modification of a corporate strategy, that can allow it to capture an undervaluation spread.[5]"
Dahn, you are not one of us. You never worked here. You have posted on this board since 2019 and it is never in support of the employees. Why are you so invested in the operations of this company? What did 2U do to you?
FYI: The vultures are Mudrick Capital Management, Greenvale Capital and Bayside Capital.
https://www.highereducationinquirer.org/2024/07/2u-declares-bankruptcy-will-anybody_25.html
https://en.wikipedia.org/wiki/Mudrick_Capital_Management
https://fintel.io/i/greenvale-capital-llp
https://bayside.com/portfolio/
Rent free