I agree. My point is that to blame Red Lobster VC because the land under the restaurants is more valuable than the restaurants themselves is not a valid argument.
I disagree. The land became valuable enough to close the entire chain, so they land could be sold.
If the hedge fund wasn’t so concerned about quick profit they could have explored how the chain could work, but they did not do that. They just closed the chain and sold the land. The land was the reason for buying the chain.