Archive
All writing, page 8
OpenAI fired Sam Altman. The board gave too little explanation.
OpenAI’s November 2023 removal of Sam Altman exposed a governance crisis. Its public statement did not establish a misconduct finding.
Grab reached positive adjusted EBITDA. The net loss remained.
Grab reached positive adjusted EBITDA in Q3 2023, while still losing money overall. The excluded costs and cash flow mattered.
Shein's reported IPO target needed more than download counts
Shein reportedly sought an $80–90 billion IPO valuation in 2023. App popularity could not establish the margins that price required.
Uber's Q3 2023 profit was a repeat, not a first
Uber reported $394 million in Q3 2023 operating income after turning positive the quarter before. The repeat was the useful result.
Mint's shutdown made the replacement's business model matter
Intuit moved Mint users toward Credit Karma in 2023. Tracking a budget and recommending financial products serve different needs.
WeWork's bankruptcy brought the leases back into view
WeWork filed for Chapter 11 in November 2023. Flexible office bookings could not make its long-term lease commitments flexible.
LinkedIn lays off 668 workers
LinkedIn cut 668 roles in October 2023. A smaller workforce still had to serve employers paying to hire during a slower market.
A displayed price should be the price you can pay
The FTC proposed a junk-fee rule in 2023. Hidden mandatory charges punish shoppers and honest sellers alike.
Microsoft bought Activision. Game Pass still had to earn the deal.
Microsoft completed its Activision Blizzard purchase in October 2023. A larger game catalog made Game Pass stronger on paper.
Lyft's board departures needed more than a timing explanation
Two Lyft directors resigned in October 2023. The filing did not connect their departures to the company's SEC settlement.