- cross-posted to:
- [email protected]
- [email protected]
- cross-posted to:
- [email protected]
- [email protected]
You must log in or register to comment.
Wtf is this? You can still buy them and other instant pot products on Amazon. Not to mention they still sell well. I have had mine and use it almost daily for 5 years and the seals are still good. Easy to clean, easy to use.
Does everybody here have an atlantic subscription or did nobody actually read the paywalled article?
I use the Bypass Paywalls Clean extension for Firefox
This is an older story. The narrative that it failed because it was too good is false. It was a private equity leveraged buyout that doomed it. The company got saddled with like 8x debt with a lot of that money going to dividends for the PE firm.
The product and the brand were strong enough that they’ve been sold to a different firm in the bankruptcy. If they are competently managed they should be fine.
The lede is buried at the end.
The problem is how the debts got there in the first place—in pursuit of growth for its own sake, of increased output with no clear needs that the new output would address.
What i still don’t quite understand with these kind of buyouts is who lends them the money and who gets saddled with the debt? Surely banks know the drill and wouldn’t want to borrow and hold debt for a company destined to fail in such a way.
Do banks get repaid before that happens and the only people being owed are small contractors and employees? Does the bank repackage the debt and sell it to someone else? Or are the interest payments high enough to just factor in losing part of the money borrowed with high certainty?
I’m guessing D) All of the above.
competently managed lol
maybe a few years of it to pump up the value, before it’s dumped again.
The product didn’t fail, American business culture failed.
they should have worked this into the title:
"A company needs to grow.
In the past few decades, the idea that every company should be growing, predictably and boundlessly and forever, has leached from the technology industry into much of the rest of American business."
Yep. I’ve had mine for 6 years and it’s still incredible. Luckily compatible sealing rings are still available from 3rd party vendors. Makes great Greek Yogurt, Chicken Soup, and Steel Cut Oats. And of course , it can make so much more.
It sucks that when you make something this good, you’re destined to put yourself out of business, meanwhile planned obsolescence works…
Private equity destroying another productive company.
The founders knew what they were doing. This was their way of cashing out some of the company while continuing to run it. All of the private equity tricks are designed to avoid paying taxes in the process.
Sadly I lack an account for the Atlantic, but I am going to assume that they were bought out.
They got toys R us’d by corporate bookeeping shenanigans where they take debt from other companies and dump it all into one business which destroys it.
Articles that lie to me like this make me want to punch the author in their momma smoocher.
Iirc they went broke because their first product was a huge hit, so they followed up with a bunch of useless crap that nobody bought.
I can recommend the Sage/breville “fast and slow go 6L” cooker if you cannot or don’t want to get the instant pot. I have had mine for 2 years now and its solid build and i have used it a lot. Makes excellent youghurt and risotto among others.
The thing is, these are just a pressure vessel with a timer and a heating element. They are all good unless they are very poorly made.
Theyre all good until they are bombs, then they’re pretty good bombs
So are water heaters and we use those pretty confidently.
Pressure cookers get a bad reputation for safety from the times when they were basically a metal box with a tiny hole in it, but modern cookers have a lot of additional redundancies. Particularly modern ones with timers. It’d take a lot of work to get one of those to go catastrophically. It’s more likely to get killed by lighting than by pressure cooker, at least in the US, and as far as I can tell from available stats, and most of the pressure cooker injuries the stats list are from people who got a contact or steam burn, not by explosions.
It’s also interesting that people are often afraid of exploding pressure cookers when they think of them as pressure cookers, but you don’t get as much anxiety from rice cookers (AKA pressure cooker - but small).
Every dedicated rice cooker I’ve seen has a permanently open vent. They aren’t pressurized.
“Dedicated” is doing a lot of work there. Regardless, they are both a vessel with a small hole where you’re heating up a gas. The difference is the pressure cooker has a valve that lets the pressure climb higher before it vents while the rice cooker is only up to whatever pressure builds up due to the vent cap foam filter being narrower than the lid. The old “exploding pressure cooker” thing is about that valve getting blocked, broken or clogged and pressure building indefinitely.
Only that shouldn’t happen on modern versions of either because the electric versions of both are using timers and sensors to control the cook. My old-school stovetop cooker still relies on pressure building until the valve hits the pressure I’ve set and vents the steam, but the electric one I was using before didn’t have to vent (at least when used manually, some programs had venting built in), it just went to temp and pressure and stayed there for some time, then released the steam at the end.
But even if my stovetop’s valve failed, there is still a safety valve. And even if that failed again, there is a scored area on the lid that is designed to fail first and vent the pressure (although you wouldn’t want to be in front of it if that happens).
I’d still default to an instant cooker if I was worried about safety. Not only does it not build up pressure indefinitely in the first place, but it also won’t let you open it until it’s vented, so you won’t open it and get a faceful of pressurized steam. Which, honestly, is the real danger with old manual pressure cookers. Everybody freaks out at anecdotal reports of explosions, but from what I can tell “opened too soon or vented incorrectly, got a burn” seems to be the real scenario you should be concerned about.
Ironically, that can still happen with rice cookers. I’ve (lightly) burnt myself by popping the lid open while my rice cooker was still hot before.
I have a modern stovetop stainless steel pressure cooker, very common type in Europe. It has three redundant pressure / over pressure relief safety sytems plus a very hard to circumvent locking mechanism that only unlocks at ambient pressure. Instant pot types look interesting, because they expand on the concept, but a major drawback I see is that they are often small (my pressure cooker is 6L) and, basically a dealbreaker for me, the vessel is usually plastic coated, I.e. non/stick. I think I will stick with mine, which coupled with a programmable stovetop induction single heater I own, fulfills part of the features.
Yeah, I am using one of those, mostly because I already had it in the place I moved to and I don’t see the need to buy an electric one. It really causes me no anxiety at all to use it in terms of security. It’s safe and reliable.
But also, if you’re not used to them and you don’t know what to buy and how to use them, I see the appeal of a programmable electric thing where you push a button, it stays to a set temp and pressure and it’ll automatically vent and tell you to take things out. I had one of those precisely because it was small and fit my kitchen setup, and I used it constantly with no issues.
My Instapot died after a year and was expensive to fix. I didn’t bother replacing it, just use the slow cooker if I need to now.
I’m curious about how expensive. My last electric pressure cooker was a more expensive model (and I sold it after years in working order), but the stovetop pressure cooker I have at home now was more expensive than the entry-level Instant Pot branded electric cookers.
Is the new one stainless steel? If so there are very few parts that may fail, valve parts and gasket essentially. Instant pots have a ton of failure points. The modern stovetops are almost buy it for life.
youghurt
How many spellings of yogurt do people need to make before we have enough?
Go full Lovecraft and spell it “yog-huurt”.
yohghurht is clearly the correct spelling
I don’t know, you could maybe fit a few more silent H’s in if you stretch it a little bit.
How is it a failure to make a product that a bunch of people love? Stop projecting
It’s a failure when despite that the company goes bankrupt and the product stops being made. Consider actually reading the article. It’s the story of terrible business culture inside private equity firms that causes amazing products to keep disappearing. Being an amazing product makes you the target of these scumbags the very first time you stumble as a business. So you can tongue in cheek argue that is what causes you to fail.
In your opinion, how does the concept of projecting fit here? Just that one word could be re-applied reciprocally in a completely different context?
I, for one, did not love it. Horrible UI. Difficult to clean. Hot plastics steaming plasticizers into the air and food. 👎
