Most businesses aren't immediately profitable, we know that. You're very lucky if your startup—especially if it's a
tech startup—isn't in the hole for a number of years even after taking off (see:
TiVo). But according to an SEC filing on the
company we love to rib, Tiger Telematics
(makers of the Gizmondo portable game system),
the company lost $11.1, $8, and then $99 million dollars in 2002, 2003, and 2004, respectively. Ok, so that's a pretty
steep incline in losses—more than 10x in one year?—but, man, someone must have gone to town between January and June of
this year, because their operating losses for the first half of 2005 are already at $210 million. So basically to pull
this all together: Tiger's in the hole for $328 million with a faltering business model selling a perpetually
unsuccessful console competing against the PSP and
DS—and to add insult to injury, they're
licking their wounds with a continuing series of
self-aggrandizing press releases. Seriously, do we really
have to spell this out any more?
[Thanks, Brian]
