Simultaneously they are opening up 0DTE options on certain stocks starting with large market caps but don't be surprised when this expands. Currently this was limited to large etfs like SPX. They are also extending trading hours towards 24/7 and eventually 365.
How they square increasing liquidity with delaying information is insane.
I know there is a lot of manipulation to make quarterly numbers and the tax code is convoluted but if companies reported dollars in and dollars out live to shareholders at least we would have an idea of how the company is doing in a general sense. And over time would learn the flow of the company and be able to make informed predictions on the overall health of the company. More information is usually better than less with very few exceptions.
If they want to delay the earnings call to every 6 months to talk about the business I have no problems with that.
> if companies reported dollars in and dollars out live to shareholders at least we would have an idea of how the company is doing in a general sense.
A former manager used to run his own company, it was a satellite internet company sometime in the 2000s, they were going into the negative, so they had a big TV in the office, showing everyday what was coming in, and how much they made vs how much they owed. They did it to motivate everyone to go back into the green. Really interesting approach. Might not work at larger companies, but in a small shop where everyone knows everyone, it makes sense.
Smart employees understand this dynamic. When leadership hides information - it always means its bad. The first thing I noticed when I had a bout of bad employers was that they claimed "we can't share financial information because of XYZ investor/legal reason."
Those startups all had major financial problems within 6 months to 2 years. Management has strong incentives to hide bad information from employees.
ehh there is a common thread that when management becomes convinced either of falsehoods or that lying to employees is the best strategy, the business outcomes won't be the best either.
Yep, I've worked at two startups which started to really emphasise The Numbers in weekly all-hands meetings, and how we're all in it together to improve them, etc. Both of those jobs ended in redundancy.
Reporting sales numbers to employees on a regular interval (along with goals) is extremely common in private companies. Especially when employee bonuses are linked to those sales/goals.
This is a manipulation enabler. I’m surprised no one is mentioning this, but it’ll allow companies like SpaceX and Tesla to avoid scrutiny. The other changes the SEC and NASDAQ are rushing all have donors behind them. That’s how this openly corrupt administration works but it’s also how America has generally operated in the past, only to a smaller degree.
> it’s also how America has generally operated in the past
It's not. That's why we have the rules that they are recinding, and why the US has long had among the the most transparent, safest, and liquid markets in the world.
Saying that 'it's always been this way' is a really concerted effort to bury one's head in the sand.
I was talking about the broader way things work, not necessarily for the SEC specifically - although they’re also subject to this phenomenon. Lobbying in America, and the revolving door between industry and government agencies, is a core part of American politics and economics. Long before the Trump administration.
One facet of the Trump administration that still manages to surprise me is now some action that is nakedly corrupt, or stupid, or destructive will be undertaken, and people will scramble to come up with explanations for why it might be done in good faith, or as part of some clever plan. We've been watching Donald Trump operate in national politics for over a decade (and seen him in business for far longer). Why on Earth would anyone ever give him the benefit of the doubt at this point?
Help me understand what you are saying here. For those that don't know this one is "a measure becomes a target, it ceases to be a good measure".
I'm not advocating for a single metric that can be gamed. A business is fundamentally about dollars in and dollars out. Maybe add receivables in there and a few other metrics from the P&L. I'm not trying to be prescriptive here on purely cash in and out.
I do think there is a low friction way that companies could report daily certain metrics that over time would give their shareholders a sense of the company's health and trajectory.
Dollars/receivables in and dollars/deliverables out is just a question of rate, unless I'm missing something.
If a 10 billion dollar company has a per-second dollar out/in rate of $1,000,000 due to actual organic business, a company with $2,000,000 can set up an LLC it buys and sells from, and legally 'swap' $1,000,000 a second back and forth in services "bought and sold" to mimic the appearance of the $10B company, to generate business interest/confidence/investment.
That's an extreme example, but the point is that real-time money flow has nothing to do with the actual 'health' of a company.
Extreme? Almost every AI related stock is investing in companies that then buy their product, efectively just giving stuff for free in exchange for better quarterly numbers.
It's not actually fraud if there is some ostensible service they're performing. Business units within businesses 'pay' each other for 'services' all the time. Ditto for subsidiaries. Whether something is fraud might come down to intent alone.
The line between legal and illegal business transactions can be murky as hell.
For it to not be fraud you'd have to actually exchange services proportional to the line items. That isn't what was described. Falsifying line items to juice your numbers is fraud plain and simple.
The company I'm a director for licenses IP from my company. The company wouldn't exist without my IP (I'm one of the founders). Yet, I'm also a customer of the same. Dollars in/out, we're all kosher. This isn't fraud, it's just how companies work.
So long as the prices are fair and reasonable, sure. But that doesn't enable you to run up an arbitrarily large bill without either doing an arbitrary amount of actual work or committing fraud.
No, there is no proportionality aspect to the law. Once you’re in the support and software subscription realm, quite vast amount of “value” can be charged for with nothing being done.
Only if you ignore the concept of fair market value. There are going rates for these things. If what you said is true you could trivially launder money by selling a single copy of an arbitrarily expensive piece of software that did nothing more than print "hello world". In practice that's not how the law works. Regulators and judges aren't drooling idiots.
Sure, you could inflate your numbers a bit and likely get away with it. But it's still fraud (getting away with it doesn't make it not a crime) and you will likely be caught if you overdo it.
How? "AI fincancing bad" is starting to seem like a new non sequitur meme. There's no imaginary thing being traded for indefensible valuations in AI dealings. Stock units at a certain valuation exchanged for an equivalant value in hardware is just a standard payment-in-kind transaction.
If the valuation turns out to change in the future, that's the hardware seller's risk.
It's not the same thing as buying a $20 million banana from a bahamian llc secretly owned by yourself, which is fraud.
I thought in that case nvidia was (approximately) purchasing stock in exchange for hardware? Which AFAIK is the entire point of stock - selling it to raise needed capital.
And if they actually constructed the deal that way, it would be fine. But by essentially creating a sham sale where they return the cash back to the customer in return for equity, Nvidia can book revenue and claim non-existent cash flow. The key is that the sale would not have happened without the corresponding equity deal. Nvidia had no discretion to use that cash any other way, so the "cash flow" in that case is illusory.
I don't see the issue. Goods valued at that amount changed hands. Why shouldn't bartering be booked as cash flow? The regulator is going to require you to value it for them regardless.
Wall Street places a value on sales, on the assumption that the sale means a customer had the money and the desire to buy the company's goods. In this case, OpenAI had the desire but not the money---Nvidia basically gave them the money to buy the product. So that "sale" should be devalued in the market. What if Nvidia paid more for the stock than the chips were worth? Now they're essentially paying people to buy their product and hiding the bribe in an equity deal by overvaluing the customer. The market sees the big growing sales number and buys Nvidia stock on the assumption that the growth is organic. It also sees Nvidia putting a big valuation on OpenAI, driving up that company's value at well. At some point, OpenAI ends up with more chips than it needs and Nvidia ends up holding a bunch of overvalued OpenAI stock instead of cash. And both stocks eventually crash as a result.
Not really. Or rather I think we both agree and disagree. Dysfunction is always possible (that's why we have regulation) and if you want to make a case that what happened between OpenAI and Nvidia ought to be against the rules that could certainly make for an interesting discussion.
However it's not at all uncommon for large sales agreements to come with additional strings attached. On its face I don't see how this example is any different.
If my company wanted to barter with another company to exchange equity for infrastructure how would you expect that to be reported? Did this situation differ from that expectation?
> What if Nvidia paid more for the stock than the chips were worth?
I'm not sure. It's an interesting question. Were the unit prices (ie chip and stock quantities) made public?
>If my company wanted to barter with another company to exchange equity for infrastructure how would you expect that to be reported? Did this situation differ from that expectation?
As I mentioned, I would have no problem if that's what happened. But it isn't. Nvidia recorded the cash as ordinary income. They did NOT record the stock as income. Cash has a clear value; stock does not. You keep reducing the transaction to its effective outcome, which is not where the problem lies, as I outlined above.
I haven't reduced it rather I've asked you why you think it shouldn't be reduced.
So your objection is the way in which they did the accounting? This is not an area I'm particularly familiar with. Does the way they went about it fall outside of the norm for the US? Or is your objection a more general one regarding the US regulations on the matter?
I understand you object but I don't quite follow why. When it comes to manipulating the OpenAI valuation couldn't Nvidia have intentionally overpayed for the stock in cash? Wouldn't that have provided the exact same quantity of capital, the exact same investment, the exact same valuation?
Maybe it would be different if their GPUs weren't in such demand but they are. Even in such a case, they could have structured the transaction as a series of smaller independent ones. Same ultimate outcome.
That's what all these accounting rules exist to stop. No, you can't pretend that equipment breaking doesn't happen. No, you need to account for fixing the roof etc.
There are so many companies like this which are just moving money around rapidly in and out with little to no actual profit. Finance sector is easily gamed.
For example, anyone can become a billionaire; just start a company, issue 1 billion shares at slightly above $1 each, keep most of them for yourself; release just 10K shares to the market and then let traders trade those same shares back and forth among themselves at high frequency... With just over $10k each, they can keep moving 10k shares back and forth 10k times per day... They call it "High frequency trading."
There you have it; now you have a billion dollar company with a healthy trade volume of $100 million per day... Your stock is in-demand! And you just needed to find two traders with just $10k in the bank and a trading platform with low fees... Becoming a billionaire is not that difficult.
You can apply the same principle to revenue... Just increase the velocity of money in and out of your company and you can hit any financial target you want.
Doesn't mean it's a solid scheme but everyone likes the numbers they're seeing. Nobody is paying attention to actual buying power.
While I agree that "billionaire" is a stupid word that 99% of the population don't understand, but can be manipulated with, it is not true that investors only look at market cap. Lots of analysis goes into IPOs.
When you realize companies can borrow against receivables and payables also....
But it eventually comes out, so while you can do it short-term, it's a terrible long-term strategy. Your stock will eventually crash and burn if you do too much of it.
All data that is externally visible about a public company will be consumed by traders and used to inform their market behavior.
Companies know this, thus every action they perform that affects an externally visible number is calculated both for the actual intent of the action, and how that action effects the number and the consequent market behavior.
This is why you see all sorts of moves that aren't strictly helpful for the business itself like being overly picky about which fiscal quarter certain expenses are taken in, etc. The more numbers about a company that are publicly visible, the more the company has to play this game.
Of course, visibility for traders is important for market efficiency too. But there is a balance there where you don't want to turn the functioning of a business too much into a perceived popularity game where it spends too much of its effort just making the numbers "look right" orthogonal to what's best for the business's functioning.
You can't just handwave assume a mechanism that games a real time system. Your 3rd paragraph explains how the current system adds another layer for gaming. Management can't predict what real time traders want to see, they can predict that less earnings this quarter are better than more earnings next. Your "balance" creates the problem in the first place.
Companies can already make press releases whenever they want yet non fraudulent ones fail to move the market in a predicable way. If someone is committing fraud I want to know about it instantly not in 3 or 6 months. This is just a gimme to Elon's scam empire from an organization he "has no respect for".
T+0 all-year-round trading is good in many ways bad in others —like losing the real investor liquidity spawning window at 09:30 EST as opposed to pure market making.
Quarterly earnings were already a bad fit for many businesses so I agree with the measure to do away with them in principle. Someone proposed real-time and I think that would be a net positive if not very feasible. Yearly is a good compromise.
Companies that are not profitable YoY usually have a story so they probably can avoid having to rob Peter to pay Paul.
Then again, maybe everyone adapts and yearlies turn into the next quarterlies.
Please don't post snarky comments like this on HN. We're here for curious conversation. If you don't fully understand someone's comment, politely ask them to clarify.
It’s a common complaint of value investors that boards (especially in this post-Sarbox world) are solely focused on quarterly earnings reports, to the detriment of long term strategy. One way to talk about the added and persistent value of some companies is to note that many of them have powerful, recalcitrant, or somehow anti-quarterly-cadence founders: buffet, zuck, you could make a list.
They would not be allowed to do so - too many shareholders. That’s why e.g. SpaceX will be going public even though Elon Musk would want to keep it private
Yes, but focused on it being the highest it possibly can _tomorrow_ or the highest it possibly can be in ten years is a huge difference. Only some executives have the ability to take actions based on a long view without being replaced by the board. Usually founders and near-founders.
Right so if you are already hyperfocused on tomorrow then focus on the end of the quarter is pretty much a wash in terms of short- versus long-term decisionmaking.
There are multiples examples that are easy to see once you realise presenting information has a cost.
For example having daily morning 2 hour long stand ups provide more information for everyone involved. It's also worse for productivity and work atmosphere.
Maybe. I'l am also not saying they need to say where the dollars came from, went to, or what they were for. Aggregate daily flows. Could you do some deductive reasoning to make an informed guess especially when large sums are involved? Perhaps.
I am also of the (perhaps wrong) opinion that the majority of the important stuff leaks anyways, just not on a level playing field.
Financials aren't like technology or IP where having the information open to all (perhaps with limited monopolies on usage a la patents) is essentially for the betterment of all mankind, they can be more like order of battle in a war zone.
If your competitors know that your Florida subsidiary is running inefficiently and being subsidized by your successful business elsewhere, they can target their own operations in Florida, undercut you more than you can possibly sustain, force you to exit that market entirely, so that they can monopolize there.
Sure, but others can also do that to your competitor. Hence my comment that everyone's in the same boat. The playing field would be level and the players would adapt to the new environment.
Of course I realize it's possible it might introduce systemic problems that I'm unaware of.
Isn't this exactly what we should want from a market system? If your division in Florida is inefficient, then from the market perspective we should absolutely want competitors to enter the market and crush them.
I think the problem is that people have gotten so used to seeing capitalism from the companies' perspective (i.e.: profits good), and forgot that it is supposed to be all about the collective good. So if you think sustained high profits are good... then you have missed the whole point (the market should always be driving them towards near-zero).
Sure but I should add I'm not saying this should be done in place of current reporting. It should be done in addition to. I'm advocating for more transparency augmented with periodic storytelling. Over time that noise becomes the pulse of the company.
Wrt Shannon, the channel capacity today vastly exceeds that of 1934 when quarterly reporting became standard. Give me more data and a filter any day over a once every 6 month black box. 6 month reporting is undersampling.
Intune has two modes. Device registration and User registration. And two kinds of wipes, retire and wipe. Retire means only delete your work profile and is only available for User registration mdm. Sounds like Stryker didn't configure intune properly for byod to force users with personal devices to use User registration.
Beyond that there are so many other things in intune you can use to prevent this sort of thing. Short lived / JIT credentials with MFA, ip restrictions, multi admin approval, rbac (role based fine tuned permissions eg help desk can't wipe, only retire ) etc. sounds like there were some big misses here.
Also sounds like they were in the system long enough to exfiltrate 50+ TB of data without setting off alarm bells.
This is the real story. This is 100% a problem with Radix. Safe browsing targets the website not the domain. No reason a registrar should be suspending an entire account over something a company reports. Black-holing the A and CNAMEs on a subdomain? Maybe..... But even then I don't think it's the registrars place to do that. Freezing the entire account? Absolutely not.
Google allows you to use TXT to verify though, since this "feature" of disabling domains because of Safe Search is based only on web contents (A/AAAA/CNAME) they could disable those and allow TXT anyway since those are AFAIK harmless
$PYPL at $40 was/is free money. Nothing stopping you from getting on the train. 8 PE is insane for a company with brand recognition and market penetration.
I fully agree with your assessment of the company and its valuation.
It's the publication of the rumor and accompanying 10% pop in stock price that's suspicious.
Code was the easy part for people who wrote code day in day out with very strictly defined requirements. But even for someone like me that's been doing it for 30 years...new frameworks, languages, architectures, wiring up 3rd party apis, banging my head because I fat fingered something, greping debug logs, late nights, early mornings and lots of coffee. There were few times where I would call it "easy". I just ideated and built an app optimized for mobile and laptop, and deployed it globally in two hours and built a Roku companion app in a couple nights after the kids went to bed. I had never built a Roku app before and am pleased with the polish for something that went from an idea to launch in two hours.
Yes I have 30 years of experience and there were still areas that were not easy but man it was fun. Writing the code, building and deploying product is easier than it was before by a huge margin.
Skicamslive.con if you're wondering what I built. Feedback welcome
Small personal projects are really not comparable to professional software development in a corporate setting.
In fact your example demonstrates what the article says. Yeah the LLM made coding easier, and probably reduced your shipping time from a few days to a few hours.
Now - since you have solved the hardest problem and have all this valuable code - how long will it take you to turn your product into a business and generate enough money to support yourself?
> Now - since you have solved the hardest problem and have all this valuable code - how long will it take you to turn your product into a business and generate enough money to support yourself?
> That's the hard part.
It's now even harder because SNR fell off a cliff. As the effort to produce a product approaches zero, the financial viability of that product goes to zero as well.
Happy for you, but GitHub has plenty of webcam feed URLs, webcam viewers, Roku code etc. You "built" it for some value of 'building' but it certainly doesn't seem the same kind of 'building' as described in the first three sentences of your post.
It's nice you got something out of it in just two hours. If the LLM companies are doing their caching right, the next person to ask for this set of apps with prompts close enough to yours can get it in five minutes.
Well said. But, I understand what they meant, they meant from an organisation’s perspective. Either way, I’ve seen far too many people in HN who fear AI won’t write perfect code, forgetting half the code we wrote before was probably worse.
I’ve also found joy again in building things, but I never fetishised the code myself anyway, I suppose I just wasn’t built that way, which might mean I was always biased to be like this.
My bet would be that "the standard" will be Heinlein Groups (company behind mailbox.org) OpenTalk (already better than Jitsy) and now they are doing OpenCloud as scaleable NextCloud alternative. The company behind the projects needs it for their own usecases, has stable business and they have decades of experience.
No. The reason top firms part ways with good workers is usually political. Either the manager doesn't like the person regardless of their work abilities, or the manager is not politely savvy enough to ensure their team is being recognized for work that grows or is valuable to the business. Or they get caught up in the endlessly popular reorgs (again management failure). It's a failure of management. Nothing more. Nothing less. A healthy market would encourage good workers to move around freely (through compensation, opportunity, benefits, location, etc..), not force their hand. And healthy organizations would recognize talent and retain/retrain as needed.
I think the other thing that's perhaps missing is that some companies have so much momentum (with thousands of people) that it probably doesn't matter when they lose people. The company will continue to thrive because there is demand for the product.
You're thinking of a different kind of company than the paper is talking about. (The headline, presumably written by the university's PR team, is a bit misleading about this.) The paper is about a certain kind of firm (e.g., the Big Four accounting firms, management consultancies like McKinsey, some elite law firms) that explicitly uses an "up or out" model, and explains why this kind of firm's business model (in particular, renting out the services of a particular employee to each customer) leads to this. The findings don't apply to other kinds of firms; e.g., in a typical big tech company, most engineers don't work primarily with a single customer, so the preconditions don't hold.
I don't think anyone here is actually reading the paper. The conversation is all about Tech workers and unions. At least thats the way I'm reading these comments as of now.
> Please don't comment on whether someone read an article. "Did you even read the article? It mentions that" can be shortened to "The article mentions that".
We don't editorialise titles but this is a good case for renaming the post to that of the paper or something like it. “Why the top consulting firms fire consultants” is a very different topic.
>>the manager is not politely savvy enough to ensure their team is being recognized for work that grows or is valuable to the business.
Actually in most companies, no ones watching whats happening, no ones watching who performs, who slacks, or anything for that matter.
Companies are basically a kind of a loosely assembled random crowd, where no one cares a thing about anything. In this kind of a set up both hardwork and laziness go unnoticed, which is why a persistent level of mediocrity is all pervasive. People do the bare minimum needed to keep lights on.
Getting rewards, or not getting punished in this kind of set up, largely depends on who you know, how they view you and what they are willing to do for you.
The problem is that as you go further up in hierarchy, people by definition have less specialized, and more general knowledge. This means that there are things that lower-level employee understands but their manager doesn't. This in turn means that it's impossible for the manager to tell whether the employee is doing a good or a bad job because the manager simply doesn't understand the details of the job. This is open door for slackers and low-performers, because from certain perspectives, they're indistinguishable from hard workers.
I used to be a hard-working high-performer, but then I understood that because of numerous management problems that are beyond my control, the reward is very loosely correlated with my efforts, and given an existing job contract, the best way to maximize the reward/effort ratio is not to put more effort hoping for disproportionately higher rewards, but to put significantly less effort because the reward will drop just slightly. Do you want to up your hourly salary 5 times? Simply take 5 times as much time to deliver same feature. You might not get the 0.05x salary bump but that doesn't actually impact the calculation that much.
An intelligent manager with generalized expertise can be smart enough to figure out intuitively the performance of their directs in a specialized area they have less knowledge in. In fact I would argue it's a must for a tech manager, and it shows in the form of a mix of Socratic questioning, knowing when to step in and get out of the way, and stopping to deep dive if necessary without micromanaging. For a good manager, I think micromanaging is a punishment or a temporary condition.
A bad tech manager a) thinks he/she must know more than their directs (no organization would ever scale if the leader in the hierarchy above knew all of what was below), b) micromanages competent people instead of giving them high level directives and course correcting at a high level when necessary c) can't tell the difference between the high performers and the slackers.
In my experience, there's a slew of bad managers out there, and in my present reality the bad ones are highly technical people who should not be managing human beings or projects.
If I get kicked out from big tech I might search for such a place, but for the time being, I am in a position where I get paid to do nothing, it's literally free money. My plan A is to keep doing same nothing until retirement (about 15 years). Plan B is not to have plan B and just look at the job market when I need to switch, because it's utterly unpredictable long-term.
Sorry you've only worked in places like that. There are places where very smart people doing work that nobody in the company can do and they are well aware and rewarded for it.
Those workers can be counted on two hands at most for 99.99% of public companies.
What about the vast majority of workers that are doing the grudge work that keeps the company afloat? Do they not deserve a say in the direction of the company? Do workers not deserve democracy in the work place to decide their own fates? Why should this be left of to centralized communist dictatorships (boards + executives)?
>Either the manager doesn't like the person regardless of their work abilities, or the manager is not politely savvy enough to ensure their team is being recognized for work that grows or is valuable to the business. Or they get caught up in the endlessly popular reorgs (again management failure).
This strikes me as 1000% accurate from my work experience. I see people who do amazing work but get unrecognized and then move on while other people do mediocre work but put a huge effort into self-promotion and end up being promoted despite the work not being great... The reorgs also seem like a way to kneecap the employees and lower expectations.
That has never been the case in my career. Perhaps things are different in the C suite or a startup but at the director level and below of an established company it’s always about money and headcount.
I think specifically latest Pixels are often Google's beta testers. The enthusiasts owning them are happy to get features first and won't complain too much if it's rough around the edges. The phone is also not big enough revenue driver for them to be afraid that too many people would abandon it due to buggy new features
Also `we welcome the opportunity to work with Apple to enable “Contacts Only” mode in the future` doesn't make it sound like Apple actually helped implement this
That hardware is completely unrelated to such a simple feature. Something like AirDrop will only use fairly trivial crypto, which most likely ciphers with full acceleration available but even without it would work fine with plenty of performance headroom.
Neither Apple nor Google is doing anything revolutionary with their silicon for such a standard compute task. It's really mostly minor tuning to get a more optimal part instead of an off-the-shelf chip catering to other uses too, with die area and power consumption "wasted" in your setup.
No, not at all. Someone even implemented AirDrop in Python before[1]. In fact, nothing ever needs such special hardware. It's a decision of the implementer if they'd like to get fancy and rely on such hardware in their implementation to change its security profile, but the iPhone at the other end or any Apple infrastructure would be none the wiser - they just see that they're getting appropriately signed or encrypted, and neither knows nor cares how that came to be. Use of a hardware security module would just make the process more tamper resistant but would not otherwise change the outcome.
It requires WiFi active monitor mode, which is a standard chipset feature. Nothing related to custom silicon, secure enclave, hardware acceleration or other such shenanigans being brought up in the current conversation, and nothing that most android phones wouldn't fully support.
No, OWL only appears to have specific driver requirements, namely that they expose to userspace functionality that any remotely modern WiFi chip should already have.
Yeah, I saw that. I'm pretty sure that's a statement more about the drivers than the underlying hardware. Open-source drivers often have more limited feature support than the underlying hardware. I doubt anyone is producing WiFi chips that cannot transmit arbitrary software-constructed WiFi frames, or capture and relay to software all the frames they hear, and ACK frames as needed while doing so. But it's very easy to imagine that some of those capabilities would not be publicly documented, or not enabled with the default firmware provided to end users. Those limitations that hinder Linux end-users tinkering with their machines don't necessarily apply to an OS vendor with a deep partnership with the relevant hardware vendors.
We get the early worm. At the same time, as a screenreader user, I wished that I didn't miss the responsiveness and ease of use of my old Samsung Galaxy S9+. I fail to comprehend how Google managed to make a phone which is harder to use than something produced 7 generations ago.
We've reached the point where a program that simply links file selection dialog APIs with network identity broadcast and file transfer APIs is so difficult to get working, that you can't expect it to be functional without the exact specified hardware and software version it was written for.
How they square increasing liquidity with delaying information is insane.
I know there is a lot of manipulation to make quarterly numbers and the tax code is convoluted but if companies reported dollars in and dollars out live to shareholders at least we would have an idea of how the company is doing in a general sense. And over time would learn the flow of the company and be able to make informed predictions on the overall health of the company. More information is usually better than less with very few exceptions.
If they want to delay the earnings call to every 6 months to talk about the business I have no problems with that.
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