New on LowEndTalk? Please Register and read our Community Rules.
All new Registrations are manually reviewed and approved, so a short delay after registration may occur before your account becomes active.
All new Registrations are manually reviewed and approved, so a short delay after registration may occur before your account becomes active.
Comments
It all depends on what industry you run in and what you do right? If it's not about ethics and morals you might as well go do everything that's poorly defined in legal terms.
And what is successful? Is it successful to back stab and betray everyone and be rich? Does that make one happy? I don't think that's all there is too it. A lot of rich people aren't actually happy in life.
Not everyone wants to run their business that way. Rather be responsible and do the right thing and provide for customers than just to rip them out of their every cent even if it makes less money. Otherwise lots of other ways to get rich - no need to run a business.
I reached out to Dustin & Adam. I'm a QN colo client, so we're working something out. It was an accidental double payment on a previous invoice, I normally don't load up credit with a hosting provider - just really bad timing in this case.
Will those services be valid only till the end of the current billing, or can a customer renew their yearly services with crissic, after the end of the billing period? Should anyone that reaching the end of the contract should look for a new service to transfer his sites, or can he pay for renew the contract?
Still, we have plenty of ghost companies in the RIPE region just to justificate a /22 for a parent. They can just keep the IPs registered to Crissic and start using them.
Sure, but those ghost companies (and Crissic in this case) must continue to exist and must deal with their liabilities. I.e. Crissic must provide the already paid services to their customers. They also must honor the prepiad service credit.
This has been standard practice for years in RIPE/ARIN/APNIC/AfriNIC regions.
Guess I was unclear in my explanation, what I ment was that if you, as a business owner, are not ready to make business decisions that some may question as if they are morally right (even if it is the right one for your business), then you will eventually end up with a business with problems.
Defining successful is different for everyone, same as trying to define happiness. I will give my definition how I would classify my business (if I had one): it would be successful the day when I can choose to work because I like it, not becausr I have to.
The day that my company has the financial muscles to survive a few lost deals. If it has employees, I would define my company as successful that day when everyone was enjoying going to work. Being able to give a wage where they wouldn't have to work two (or more) jobs to put food on the table.
Do the right thing? The right thing for the customer or fornthe company? It's not every time these are the same thing.
Giving a refund when there is no legal reason to give one usually is a business decision that you really like that customer or you see it as marketing money where the preciously angry customer now is happy and tell their friends and family about this nice company that actually listened.
What really annoys me at this point is that there hasn't been any means of communication with the Crissic customers from the new owner except what can be read in this thread or some other forum.
At the same time I know that they don't have to as long as Crissic still operates as a company and the clients/services aren't moved to another company (QN).
Happens all the time.
That 's certainly possible, but I don't know why they would bother buying the company, I doubt it has any value to them.
Have you seen how much IP space they had?
If it is the IP space they would be after they would probably need some justification for all the new IPs.
Simplest way (and perhaps the only way, perhaps Skylar wouldn't sell unless all was taken) would be to buy the whole company, IP already has justification and when clients stops renewing IP would be free to use.
You don't need to buy the company proper to gain control of it's IP allocations. ARIN enforcement is lax at best, non-existent at worst. This is nothing new, unique or surprising.
But we're veering off topic. I'm not arguing an asset sale is what happened, only where the responsibility is if it did.
At least in the US, it's not that clear cut. Incorporation or LLC registration is not blanket isolation.
At least you understood what I wrote, despite my typo.
It should have been Sole Trader pf course.
Not sure if I should thank this post or not heh
Maybe an Ark? :P
And they all lived happily ever after...... did they fuck.
The fact of it is that Crissic (whatever the legal entity is called), a for-profit company, saw a way to cash out with a tidy profit. For the shareholder(s)/owner(s) that was a shrewd move. Rather than condemning the guy, take your hat off to him, assuming he got $4/IP thats about $100-150k for two years work. Kudos to Crissic!
From a customer perspective, of course people feel let down but thats the nature of business. Its why companies acquire each other, its why products end up passed from company to company.
From Quadranets perspective, I assume their interest was simply the IP space, the customer base is worthless and probably not generating anything more than pocket change each month. The fact is the IPs they can repurpose for dedicated servers, cloud services and make 10x the profit. Again shrewd purchase.
There is no guarantee in any industry whether a company will be there tomorrow either because of mismanagement (and subsequent failure) or because they've been acquired. If you need the continuity of a single supplier then you have to go to either extreme, either something so small that its cheap enough to run and too small to acquire; or something thats so large its not easily acquired.
As the Crissic brand is now winding down its operation, there will be plenty of other operators here willing to take on the those customers.
Like Softlayer? ;-)
@rds100 - Softlayer was small potatos compared to the acquisitions today. $2B?
Even that crappy little taxi app is worth $50B!
Recently someone posted about not trusting any provider that didn't own their own IPs. The logic being that IP prices would go up, and those providers would have to either go bust or pass on the pricerise.
Crissic is evidence that going with a provider that owns their own IPs is just as risky. Other providers will cash in, why wouldn't they, business is about profit. A company with a /22 isn't worth much, IP-wise. Look for the ones like Crissic who amassed a big pile of blocks. Anyone fancy creating a list of potential "victims"
Don't forget about Twit-turd being worth so much
Good Riddance to another shitty company.
I agree, this is not fraud. And skylar probably didn't plan this "all along". He planned it for the past year....
June 2014 : Crissic : 512MB OpenVz : $3.60/month
July 2014 : Crissic : 512MB OpenVz : $15/year
I already suggested making Elephant Node a few months ago, looks like you're the man for the job!
Many companies have their IP holdings spread over dozens of companies.
I don't think size of IP space will dictate whether a company will sell out or not. You need to study balance sheet vs asset value (ie IP holdings). If the balance sheet is making more than the IPs then its likely they won't sell out. Also companies with long-term datacentre (10-25 year) leases are less likely to sell their IP space because they'll still have the liability on their leases.
As I said, I disagree.
People say I am crazy, including uncle, but I do not think IPv4 in ARIN area will be so expensive as those in RIPE or APNIC area. While in EU they are worth some 10+ Eur, in US they will probably not go over 4-5, because there are way more per capita and since the rest of the world will adopt IPv6 because the costs of IPv4 are way higher over there, US will also have to follow.
There is a hype now with hoarders distorting the price, unless Crissic was a front just with this purpose and got peanuts, the buyout is probably not worth it, because in the long run IPv4 will become deprecated and their price will not go much over 5 Eur or so.
Unless, of course, QN really needed them and does not sit on hundreds of thousands of unused others with no realistic chances to use them. People which get them because they need them, will make a good profit at any price, those that hoarded for resell might have lost time and money which could have been used better for better profit elsewhere.
We rent for less than 1 Eur a year and "resell" for an Eur a month, the 10k a year we pay if we consider we would have had none of our own, are not worth 100k investment to buy them all, because in less than 10 years they will be worthless, even if we consider that those 100k do not produce much more money if rolled over in these 10 years.
yeah, I was just thinking about fag-packet calcs, and really only works for small/simple setups.
Its in absolutely no large IPv4 holders benefit to enable/facilitate IPv6 adoption. They are only devaluing their asset.
At my former employers network, they were deploying IPv6 back in the late 90's. They still don't offer it ubiquitously, its done generally for business services only and the adoption is close to zero.
I think its going to be a long time before IPv6 gets any real traction. Of course the people with no IP space will be frantically pushing it to dig themselves out of the hole. But on a global level, IPv6 is a joke. Adoption is close to non-existent, there is no uniformity in IPv6 routing tables and frankly until there is something drastic which compels users and more importantly network operators to move to IPv6 then IPv4 will dominate.
This is exactly what I've been trying to tell people the last few years. .... Basic Business 101.
Why in the world would I want IPv6, when my $1 IP are about to be worth $4. That would be stupid. I wouldn't sell a my Google or Mircrosoft stocks, knowing damn well they're going to quadruple in a few years (hypothetical of course just making a example). Better yet...Why would I sell my investment house now, when I can rent it out to pay the mortgage for 4 years, then sell at a 10% - 20% more?