“Do not go gentle into that good night. Rage, rage against the dying of the light.”
There are more layoffs at PacBio, mostly around marketing as far as I can tell. Of particular note is Elizabeth Tseng, who put together Pacbio marketing that left more of an impact than… Macklemore.
In addition to Pacbio, it looks like we’re seeing layoffs at DNA Electronics too. Which is a shame as their early access program should be underway.
Chat on the Discord suggests reasonably large RIF at PacBio. The LinkedIn posts I saw suggested layoffs in marketing. The most positive spin I can put on this that it helps position PacBio for an acquisition.
This might be the best outcome for PacBio, a strategic acquisition by someone with deep pockets, willing to support the strong fundamental value that lies in the PacBio technology.
Unfortunately they’d have to be will to resolve all that SoftBank debt1, and it’s not clear that anyone is willing to do that at this point.
Realistically their current market cap is ~$450M, and you’d be looking at another ~$500M I’d imagine to service the debt? PacBio has ~$200M in cash, so I’d assume to be acceptable to share holders you’d probably want an acquisition at $1B, probably much more. I’m not sure how likely this is in the current environment…
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