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-   -   Jolla Troubles (https://talk.maemo.org/showthread.php?t=96182)

NokiaFanatic 2015-11-20 14:46

Jolla Troubles
 
I thought it would be best to create a new thread rather than use existing threads not related to the troubles Jolla are having.

Jolla have just released this statement - it's very distressing.

http://jolla.com/wp-content/uploads/...5_FINAL_61.pdf

Quote:

Jolla’s financing round delayed - files for debt restructuring
Helsinki, Finland, October 20, 2015 - - Jolla Ltd, the mobile company from Finland
today announced that its latest financing round which aimed to end in November,
has been postponed and the company needs to adjust its operations accordingly.
At the same time the company has filed for a debt restructuring program in Finland,
to ensure the continuity of its business. Jolla will also temporarily lay off a big part
of its personnel.
The mobile company Jolla Ltd. was founded four years ago with a vision to change the
mobile world. This journey, cited by many to be ‘an impossible task’, has featured many
ups and downs including developing Sailfish OS, an own mobile operating system,
launching internationally two mobile devices, and raising 50M USD to finance the
operation.
Last autumn, Sailfish OS reached commercial maturity and now the company is ready to
licence it to commercial partners. Sailfish OS has a lot to offer to its customers: for device
manufacturers it offers an independent platform to build truly differentiated consumer
offerings; and for security companies, the platform offers an ability to build secure
solutions. Jolla’s aim is to offer Sailfish OS to different partners who want a tailored
operating system to support their own businesses.
Antti Saarnio, Chairman and Co-founder of Jolla comments: “Typically for start-ups Jolla
has gone through several death valleys along its four year journey. We’ve fought them
through and now we are facing again a great challenge. Our operating system Sailfish OS
is in great shape currently and it is commercially ready. Unfortunately the development
until this point has required quite a lot of time and money. To get out of this death valley
we need to move from a development phase into a growth phase. At the same time we
need to adapt our cost levels to the new situation. One of the main actions is to tailor the
operating system to fit the needs of different clients. We have several major and smaller
potential clients who are interested in using Sailfish OS in their projects.”
Jolla has today filed for the debt restructuring program in Helsinki. With this the company
aims secure the future of its business and to get more time to arrange the future financing
of the company.
Antti Saarnio continues: ”In Finland we have very good laws for corporate restructuring.
These enable the continuation of businesses through debt restructuring, which gives a
company more time to take care of its financial liabilities. I believe that through this
program Jolla can turn its business to be profitable in the future. Sailfish OS is a very
valuable asset and worth fighting for.”

alfredquack 2015-11-20 14:52

Re: Jolla Troubles
 
well then let's see what those finish laws can do!

dirkvl 2015-11-20 14:56

Re: Jolla Troubles
 
go finland!

https://media.giphy.com/media/Z5oWOGWYDwa1G/giphy.gif

javispedro 2015-11-20 15:00

Re: Jolla Troubles
 
Where is your our god now?!

JoOppen 2015-11-20 15:26

Re: Jolla Troubles
 
Quote:

Originally Posted by alfredquack (Post 1488746)
well then let's see what those finish laws can do!

I don't know whether I like finish laws or not. It sounds very final to me. I'd rather have finnish laws applied ....

(Sorry for this - I could not resist)

pichlo 2015-11-20 15:36

Re: Jolla Troubles
 
Quote:

Originally Posted by JoOppen (Post 1488753)
I'd rather have finnish laws applied ....

Since we are picking up on details, would you not rather have Finnish laws applied? :p

JoOppen 2015-11-20 15:56

Re: Jolla Troubles
 
Quote:

Originally Posted by pichlo (Post 1488754)
Since we are picking up on details, would you not rather have Finnish laws applied? :p

Yes, you got me! :)

alfredquack 2015-11-20 16:00

Re: Jolla Troubles
 
spelled on my tohkbd - those damned keys!

couldn't resist to blame it to someone else ;)

Dave999 2015-11-20 17:05

Re: Jolla Troubles
 
Quote:

Originally Posted by dirkvl (Post 1488748)

I hope its jolla Management on the image. They need some punishment for their useless and weak behavior. There is no excuse for hiding the truth.

bluefoot 2015-11-20 17:09

Re: Jolla Troubles
 
Like I said a few months ago, it was obvious that the split in the business was to restructure debt and write down losses.

Doubt they survive this, and honestly hope they don't. They've made such a miserably poor fist of almost everything. Perhaps someone else can do more with the assets (if they're sold or released) than they have proved able or capable of doing. Besides, it's bad for Linux and alt(mobile).OSes to have another failure - particularly one that hangs around for too long and sucks in more (naive) VC.

I was always doubtful that anything would materialise from the Intex announcement; there are very good reasons why no-one else has been willing to partner with them or license SF. I think it's now heavily odds against that we'll see an Intex device ... unless they somehow come out of this restructuring leaner, meaner and with some kind of direction.

Also, if they aren't to fold, surely Saarnio has to go. He's overseen failure after failure, and this year, pretty much calamity. I don't see how they can raise another round of finance with him at the helm.

JoOppen 2015-11-20 17:16

Re: Jolla Troubles
 
Quote:

Originally Posted by bluefoot (Post 1488770)
Like I said a few months ago, it was obvious that the split in the business was to restructure debt and write down losses.

Doubt they survive this, and honestly hope they don't. They've made such a miserably poor fist of almost everything. Perhaps someone else can do more with the assets (if they're sold or released) than they have proved able or capable of doing. Besides, it's bad for Linux and alt(mobile).OSes to have another failure - particularly one that hangs around for too long and sucks in more (naive) VC.

How can you dare to say this ...:p

Regarding "doing more with the assets" I think of Maemo/Meeg/Tizen - so far nobody could. In fact, Jolla has done the most of all.

That is why I hope they will make it.

bluefoot 2015-11-20 17:25

Re: Jolla Troubles
 
Quote:

Originally Posted by JoOppen (Post 1488774)
How can you dare to say this ...

Regarding "doing more with the assets" I think of Maemo/Meeg/Tizen - so far nobody could. In fact, Jolla has done the most of all.

That is why I hope they will make it.

Easy, it's been an extended farce and it's damaging to others trying now or those in future.

On the contrary, they've achieved practically nothing despite having an incredibly solid base to work from, both in terms of code and experience.

Management are most to blame, though there is obviously some collective culpability for their failures. The executive team were a bunch of idealistic lightweights who had absolutely no clue.

Fellfrosch 2015-11-20 17:35

Re: Jolla Troubles
 
Quote:

Originally Posted by bluefoot (Post 1488780)
Easy, it's been an extended farce and it's damaging to others trying now or those in future.

On the contrary, they've achieved practically nothing despite having an incredibly solid base to work from, both in terms of code and experience.

Management are most to blame, though there is obviously some collective culpability for their failures. The executive team were a bunch of idealistic lightweights who had absolutely no clue.

So I would vote for bluefoot to rule Jolla or better the whole world. Obviously he is more intelligent than anybody else and the best manager in the world. Let me guess you are the leader of a really big and successful company?

Sorry that sounds all like being in the football stadium and someone behind you shouts: "run you lazy pig, don't be so lazy, you are to stupid to walk in a straight line" and when you turn around there stands a man weighing around 150 kg eating a fat burger and drinking a beer. The last time he played football was when he was 10 and his teacher forced him to do so...

bluefoot 2015-11-20 17:40

Re: Jolla Troubles
 
Quote:

Originally Posted by Fellfrosch (Post 1488784)
So I would vote for bluefoot to rule Jolla or better the whole world. Obviously he is more intelligent than anybody else and the best manager in the world. Let me guess you are the leader of a really big and successful company?

Sorry that sounds all like being in the football stadium and someone behind you shouts: "run you lazy pig, don't be so lazy, you are to stupid to walk in a straight line" and when you turn around there stands a man weighing around 150 kg eating a fat burger and drinking a beer. The last time he played football was when he was 10 and his teacher forced him to do so...

You might have said that about my views of Jolla 18 months or 2 years ago (or longer if you knew me in private).

Now that the chickens have finally come home to roost?

LOL.

szopin 2015-11-21 09:54

Re: Jolla Troubles
 
Quote:

Originally Posted by bluefoot (Post 1488788)
You might have said that about my views of Jolla 18 months or 2 years ago (or longer if you knew me in private).

Now that the chickens have finally come home to roost?

LOL.

Nothing's changed in regards to you in those 18 months, you might've been a dog on the internet (noone can really tell), or a daltonist duck as you quack quack your thing all the time, even semi-tomi-ahonen pichlo was 'the most accurate forecaster on the internets' betting on a startup to not survive a year ago. Let me try: 'your startup probably has just enough money to live for another few months, you will likely fail, it's all mismanaged, executives are sheet, workers are useless, whole idea is cray cray man, I'm a CEO btw of my own 1-person company, so I should know, don't try'

pichlo 2015-11-21 10:46

Re: Jolla Troubles
 
As it turned out, bluefoot's quack quack turned up to be true. Whereas yours is taking a nose dive. Feel free to live on your cloud, the rest of us live in the real world.

szopin 2015-11-21 10:47

Re: Jolla Troubles
 
Quote:

Originally Posted by pichlo (Post 1488982)
As it turned out, bluefoot's quack quack turned up to be true. Whereas yours is taking a nose dive. Feel free to live on your cloud, the rest of us live in the real world.

Sheeeit, the tomi ahonen who 'predicted' a startup will have financial problems, I predict water will be wet in a year from now, go pichlo-ahonen(add yellowfoot for vice-tomi, that ballot has chances)

Fellfrosch 2015-11-21 12:26

Re: Jolla Troubles
 
Quote:

Originally Posted by pichlo (Post 1488982)
As it turned out, bluefoot's quack quack turned up to be true. Whereas yours is taking a nose dive. Feel free to live on your cloud, the rest of us live in the real world.

Well it is not really difficult to predict a failure in the mobile sector. The chances that a startup can persist the allmighty Googles and Apples are quite low. Thinking about the failure of Nokia, Microsoft, blackberry ... Jolla has reached a lot more than most peaple have ever thought.

To be honest, wich manufacturer makes really profit with it's phones. Well the shepherd of course but all the others? Even Samsung has problems to generate profit. So you really worked wonders in predicting the failure of Jolla.

And what have you gained in predicting this. Obviously not much. It seems that we loose the only capable alternative to the Androids and IPhones. FirefoxOS and Ubuntu are still not a real alternative, bb10 is dying. So enjoy your small victory maybe that can outweigh the your loss, but I doubt.

Fellfrosch 2015-11-21 12:32

Re: Jolla Troubles
 
Quote:

Originally Posted by bluefoot (Post 1488788)
You might have said that about my views of Jolla 18 months or 2 years ago (or longer if you knew me in private).

Now that the chickens have finally come home to roost?

LOL.

I don't know anything of you. But of course I can say that, as long as you haven't proven that you have made it better than Jolla. Just show me your open source phone and the profits you make with them. I even will buy one of your open source phones immediatley when you show it to me. Even when it costs 1000€. :rolleyes:

salyavin 2015-11-21 19:15

Re: Jolla Troubles
 
Early Startup Challenges at Jolla | Marc Dillon

https://youtu.be/TIsvoCEabFw

billranton 2015-11-21 21:42

Re: Jolla Troubles
 
Lots more information here:

http://techcrunch.com/2015/11/20/jol...d-alternative/

I wonder who the unnamed single investor is...

Mikkosssss 2015-11-21 22:38

Re: Jolla Troubles
 
I hope that "There is no such thing as bad publicity" applies here. Seen so many forum posts and news about Jolla. If Jolla gets back up it's again more free publicity.

JulmaHerra 2015-11-21 23:01

Re: Jolla Troubles
 
Quote:

Originally Posted by billranton (Post 1489120)
Lots more information here:

http://techcrunch.com/2015/11/20/jol...d-alternative/

I wonder who the unnamed single investor is...

I wonder if the writer fully understands the meaning of temporary layoff in this case. I guess it's more or less unique practice in Finland, at least I'm not aware that such practice exists elsewhere... however, it goes somewhat like this:

- Company finds itself in difficult situation and needs savings, therefore cooperation negotiations are started with the staff, which lasts six weeks minimum
- During negotiations alternatives are searched to reach desired saving, to avoid layoffs (it seems to be more like a theater most of time though...)
- After negotiation period company will go forward with layoffs, temporary layoffs (aka. forced leave) and other things.

Temporary layoff means that employment contract doesn't end, but is effectively frozen for certain amount of time. During this period employer doesn't pay salaries and employee of course is not required to work. Employee is also somewhat free to work elsewhere during the time and after it they return to work as usual. This method is usually used when difficulties are expected to be only temporary and company wants to keep the knowhow. Permanent layoffs are used when reduction on head count is deemed to be necessary permanently or for very long time (though some companies actually prefer very long forced leaves... ie in shipyards...). So, if employees don't resign, they are still there if/when funding returns.

billranton 2015-11-21 23:35

Re: Jolla Troubles
 
Thanks very much for the background. Do the temporarily laid off people get their wages covered to any extent by the state during the agreed time?

jflatt 2015-11-22 00:58

Re: Jolla Troubles
 
Quote:

Originally Posted by billranton (Post 1489120)
Lots more information here:

http://techcrunch.com/2015/11/20/jol...d-alternative/

I wonder who the unnamed single investor is...

Stephen Elop?

salyavin 2015-11-22 05:52

Re: Jolla Troubles
 
In the United States this would be similar to a furlough. A furlough is forced unpaid leave due to financial difficulties or at least the excuse as such. The US government did it a year or two ago during a shut down and companies regularly do it particularly for contractors if stock goals are not met. I know a very large technology giving out 1 month furlough through the end of this year.

Quote:

Originally Posted by JulmaHerra (Post 1489126)
I wonder if the writer fully understands the meaning of temporary layoff in this case. I guess it's more or less unique practice in Finland, at least I'm not aware that such practice exists elsewhere

Temporary layoff means that employment contract doesn't end, but is effectively frozen for certain amount of time. During this period employer doesn't pay salaries


salyavin 2015-11-22 05:54

Re: Jolla Troubles
 
"In the United States, a furlough (/ˈfɜrloʊ/; from Dutch: verlof, "leave of absence") is a temporary leave of some employees due to special needs of a company, which may be due to economic conditions at the specific employer or in the economy as a whole." https://en.wikipedia.org/wiki/Furlough If the writer is US based or worked in the US they may understand that term better.

nieldk 2015-11-22 06:06

Re: Jolla Troubles
 
In Denmark, and Sweden, temporary layoffs are also possible, and, at least in Denmark not so unrare, in certain industries.

pycage 2015-11-22 07:31

Re: Jolla Troubles
 
Quote:

Originally Posted by billranton (Post 1489131)
Thanks very much for the background. Do the temporarily laid off people get their wages covered to any extent by the state during the agreed time?

Yes, the state is usually covering the wages to some extent, but not fully AFAIK.

JulmaHerra 2015-11-22 18:58

Re: Jolla Troubles
 
Quote:

Originally Posted by billranton (Post 1489131)
Thanks very much for the background. Do the temporarily laid off people get their wages covered to any extent by the state during the agreed time?

Yes, they get normal unemployment benefits from the state and voluntary unemployment funds (if they have paid for it while they were working, most people in Finland do). The amount is dependent on your salary, higher salaries get smaller percentage. Practically it's somewhere between 55-68% on average income.

JulmaHerra 2015-11-22 19:01

Re: Jolla Troubles
 
Quote:

Originally Posted by nieldk (Post 1489143)
In Denmark, and Sweden, temporary layoffs are also possible, and, at least in Denmark not so unrare, in certain industries.

In Sweden also? I thought they only had permanent layoffs... at least that's what was told to me when subsidiary of one of my previous employers went through layoffs years ago.


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