David Rosenthal: belief

Transcript context

…All right. You start because I don't know. Well, this is tough. I mean, it’s kind of like everything worked out here. Investors got a nice return, especially the early investors. The management team and James certainly seems happy. I mean they’re leaving a ton of skin in the game so they must be bullish on the future. Nestle is getting potentially, well, they’re getting a growing brand and new business line to add but they’re also potentially getting something that could really be valuable to them in terms of rebranding their Nespresso single shot market and that’s a very big market. But it just feels like this whole thing wasn’t the right fit, you know, as we’ve had this discussion. I think I’d give it a B right now because this certainly was a good outcome for everyone but I just wonder if it was like the right path and what would have happened if maybe Blue Bottle had made some different decisions along the way. I don’t disagree. It does feel like my biggest takeaway is with the real successful acquisitions we’ve seen, when you really dig in, you start to see like the one real reason this deal got done. And with Instagram it’s like “Oh my God,” Facebook can unlock even more supply, like even more add inventory and push all of their advertisers into a crapton more ad slots. Oh, that’s what that deal is about.…

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