In the bid to grow at all costs, Instant Pot is cooking itself

Instant Pot cooker
Photo: Instant Pot

Last week I made a pound of pinto beans in my Instant Pot. They were very good beans and I didn’t have to worry about burning them or leaving them unattended to cook like I do when I cook them on the stove. I didn’t have to worry about them exploding like I did with my mom’s ancient pressure cooker as a kid, either. The Instant Pot cooks the beans very well. It cooks quite a few things very well. It’s reliable and affordable, and while it sucks at searing, it really does feel like a multipurpose device.

And right now, Instant Pot, despite making a very good product, is not doing so hot — today, its parent company filed for Chapter 11 bankruptcy while saying that a new deal for $132.5 million in financing from its lenders will support the…

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Posted by Experimentor