Quote:
Originally Posted by Barrelfish
This is my take as well. But the funding sources make me think this is a potential boondoggle.
If a Related was behind this, you'd think "they know what they are doing on super complex developments like this - if they are putting their money into it, it probably has legs". A quick perusal of the websites for the 3 private funders ( Ullico, Loop Capital, and Johnson Controls) does not give the same feeling. Instead, my interpretation is "these guys probably got taken in by a good story and are in over their head".
Reminds me a bit of Theranos. Supposedly a super innovative biotech company, but none of the big biotech investors would touch them. Instead, their whole board was former generals and secretaries of state who didn't know anything about biotech, but bought the story.
Not saying that this project will turn out to be a pure fraud and vaporware like Theranos. But if it was, Johnson Controls won't be able to sniff it out the way that a Related could. |
I agree - I thought it was "whatever" until reading that they actually have some legitimate backers they're willing to name. Not only that, but a few transit agencies have talked about it which indicates they've probably realistically done some studies.
Johnson Controls is also huge and does much more revenue per year than Related. They're profitable too with at least a few billion in cash on hand. As far as someone putting up money goes, they're totally a viable company.