Pros
Start-up company that lacked all the constraints and layers found in legacy companies, meaning you enjoyed so much latitude and freedom to make immediately impactful decisions without having to navigate endless bureaucracy. The teammates were so fun to work with and possessed amazing talent and motivation, as Fisker quite rightly chose to hire highly experienced colleagues (critical to the launch of any start-up) as opposed to hiring college graduates with zero experience. By the time Fisker went bankrupt in 2024, the software issues that had initially plagued customer were fixed, and the Ocean was a beautiful performing vehicle.
Cons
A few issues doomed the company to bankruptcy: • A lack of cashflow, impatient investors compelled top management to start selling the Ocean a full six months before the complex software was satisfactorily developed • You've only one chance to make a first impression in the market, and the premature release to customers provided a feast for YouTubers who destroyed Fisker's reputation • The decision to forgoe traditional car dealerships was a big mistake. People are fine with buying a backpack or pair of sunglasses online, but when it comes to buying a $70K car, the customer wants to test-drive it, establish a relationship with the salesman and know that if a problem arises, he can bring the car to a Fisker Service Center.