BitWarden Sells Out
A long-standing playbook for private equity investments is to buy an established brand with a lot of public trust, load up on debt, strip-mine assets, eviscerate the company's R&D and quality control, and then pump out junk until the public catches on. At that point, the resulting corporate husk is pawned off to a troubled asset firm and PE moves on to the next victim. Recent news suggests this playbook may be in the early stages of being implemented at BitWarden.
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