Issue #1: When Asset-Light and Lean is really Exposed and Concentrated
Is low overhead the gateway to high profitability or low control? It may be both and if you don't look deeply you may find it's the path to no control. In this episode we explore a Seller with a growing business that depends on a cooperation that is neither guaranteed, enforceable, nor mitigable. In practice the platforms and partners they engaged to grow their business are now controlling partners in whether they continue to have a business. As a Buyer, it is vital you understand this going in as the asset your a buying may actually be another party's permission rather than resources you control.