Presumably Bending Spoons believes they can optimize a lot of that 400M expenses while keeping revenue flat or even growing it. At least they believe enough to make a 1.4B bet on it.
This sounds more like a reverse mortgage line of business, to me. Bending Spoons is betting they can eek enough revenue out of Vimeo to pay the interest on the $1.4B loan by cutting the $400M expense run rate.
The actual loan principal will be paid out (if it ever does) of the money they expect to bring in when they inevitably go to an IPO.
And at that point you have speculators carrying risk, bankers getting rich off interest, leadership raking in millions, and a once reasonably healthy business is jeopardized (subject to the performance of other Bending Spoons properties, risky management, etc). All in the name of growth that may or may not be achievable.
We’re going to have AI building Drupal sites soon. The platform is well architected for this. Most of the work is generating configuration files that scaffold the site. There are already AI integrations for content. The surface area is relatively small, and the options are well defined in code and documentation. I would not be surprised if we pull this off first. It’s one of the current project initiatives.
The coding part is still a hard problem. AI for front end and module code is still pretty primitive. LLMs are getting more helpful with that over time.
If your identity is stolen, at best the company is sued and pays for a few years of credit monitoring. I don’t think this is adequate, given the potential consequences. We need a better systemic solution for this.
