There’s No Natural Home for BlackBerry: Heitzmann

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Nov. 5 (Bloomberg) -- Rick Heitzmann, managing director & founder at Firstmark Capital discusses the collapse of a deal for BlackBerry and what comes next for the company with a new chief executive officer. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

Gossiper blackberry.

I think there is no strategy and there is no natural home for black area.

It was kind of a stalking horse bid that they had at the time, looking to generate interest.

It from private equity firms or asian firms that want to participate in this market and just tying to generate some interest.

There is no interest third the declining user base, the fundamental headwinds in the face, bring your own device is a headwind interface.

So a seven-year convertible bond, they're not looking to go seven years, they're just buying time to get -- to cash out at some point.

I think it is 18 months.

The rumors 18 months.

Can they strike a deal with lenovo which might fundamentally change our cost basis.

Can his other patents e kennedy something to offload some assets to buy summertime?

This is different than what you saw aol and yahoo were they were able to offload non-core assets and focus on the core business, there's no real core business here.

You and if they bought a little time with this loan yesterday, clearly the company may not want to sell itself, but it has to be attention to what the market is saying eventually, doesn't? it has to.

Maybe the new ceo can come in and forced the board to look at the reality of the situation.

There's obviously a nationalistic element here.

The canadian government is a huge supporter blackberry heard by running a longer process you can go back to the board and the government and say there are no buyers here.

Is any company, newer older visit good fit to buy blackberry now?

I think lenovo is a likely buyer.

They're taking a legacy businesses not making money, change a cost and provider second act third inner world is ok to fail, right?

-- in your world it is ok to fail, right?

Yes.

As long as you admitted.

But if you go on and on and on.

Nobody wants it including the canadian government.

Own up to your mistake and move on.

Well we will continue to watch the fate of blackberry is the cash burn continues.

Do remember that new biography about jeff bezos, the amazon founder.

Is available for sale on amazon.

It also got a scathing review on amazon from bezos' wife.

She wrote everywhere i can fact check --

This text has been automatically generated. It may not be 100% accurate.

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