Is R3 about to run out of money? Forbes goes deep with multiple sources referring to R3’s culture and operations as "a company styling itself as a technology startup but acting more like a bank" and Executives joking about getting bought by Oracle, IBM, Microsoft or Accenture in a "fire sale” in Q1 2019.
In its quest to build out a blockchain service to a global web of customers, R3 has made significant investments in staff and travel costs. It hasn’t been cheap. “Just look at the public information. You see their hiring plan and the number of people on their website,” said one of the former staffers. “There’s also expensive real estate in London and New York.” Another employee questioned a corporate culture in which executives and consultants flew to frequent meetings around the world. In the employee’s view, many of the trips, some of them business and first class flights, could have been conducted online instead.