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One thing's for sure: there's no possible way this makes the world a better place to live in.

Why would you think that? There was no succession plan for these businesses, there was a high potential for them to shutter and the jobs would dry up with them.

Honestly, this feels like one of the better/more practical uses of venture capital that I've seen in a while.

Because the businesses are now owned by a profit-maximizing anonymous fintech company. If you can't imagine any of the thousand ways that ends up sucking for everybody and draining life out of the world it's not likely that anything I say could convince you.

85% owned out of the gate, decreasing to 20% over 20 years.

Just because you can't imagine a way it could be good doesn't mean they're evil.

Show me a merger that has been good for the customer and good for the employee. I'll wait.

Reply on news.ycombinator.com