Bryan bought Gawker after it went bankrupt. He also had a +$200m exit. So he's doing something right. Coincidentally, the company (j2 Global) that bought your former employer worked with the current Gizmodo CEO. That company is now worth ~$4.5b.
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It makes me feel SO much better to know that the people that have turned something I spent more than 1/5 of my life on into a deals site have profited handsomely. Really makes those of us who had equity feel great about the fact that we made out with nothing.
Don't blame the buyer. Blame the previous owners/management/team who made bad decisions. It was a shitty situation...but it's not the buyer's fault the business was poor.