Veritone Inc (VERI)

[KVM]

Unfortunately again alls we have are ifs and speculation.

[GBR]

Deloitte has Cortex AI for Government. Also reminded of the last investor presentation listing Axon as a partner. Axon previously had their own redaction, and facial recognition capabilities. If Axon going with aiWare, then Veritone has quickly become a significant presence in law enforcement. And with Deloitte as partners with Veritone on DOJ fedramp, with Vertitone ATO across all DOJ agencies, looks like their is in fact an opportunity to create a big presence in law enforcement at the fed level and state and local. Also would be an advantage if DOJ and the state and local law enforcement could be on same platform.

All speculation, but why the hell did Deloitte partner with Veritone in getting the DOJ Fedramp authorization if it were to amount to nothing?

Also if you go to Fedramp Marketplace, under Deloitte Evidence Management System, they don't have Fedramp authorization for DOJ.

Agencies using this service
Defense Information Systems Agency
Department of Defense
Department of Labor
Department of the Treasury
Federal Deposit Insurance Corporation
Internal Revenue Service
Pension Benefit Guaranty Corporation

See that Deloitte is also trying to get Fedramp authorized for Digital Contact Center

[KVM]

Tempted to email BA on that tweet.

[KVM]

Apple, Google, Amazon, Meta, Microsoft changed everything. Can't see anything Veri doing that will change everything.

[KVM]

Again proves my point about incompetence from the C suite.

[KVM]

Instead of putting out these BS tweets with no substance behind them just put out a PR and tell investors what it is. But they can never do that. Always immaterial and insignificant PRs and has been this way since IPO.

[GBR]

I think they deleted it because the sentiment is so bad with their investors, that they probably got an ear full from various investors. Maybe even mentioning lawsuits.

It really was not good timing for that tweet. lol Everyone's holdings are crushed, with Veritone not coming out with anything of substance and after doing a 180 on guidance. It was bad judgment considering the market circumstances.

[KVM]

Can't believe Deloitte and Cortex Ai will change everything. To me only thing changing everything is something with Fed.

[KVM]

All valid points. But their meanings of what is big and shortly etc. is not the same as everyone else. They constantly harp on the fact they generate 75% growth, 100% growth etc but don't point out from small base. Everything they say and do is hyped and over exegerated. Cannot take anything they say literally. And everything they throw out their is always a year premature. I just have 0% confidence in them. And why put out this blockbuster tweet and then immediately delete it.

[GBR]

Still, can't totally rule out that there is something substantial behind the tweet.

Still think if anything BIG is coming, as the tweet said it was, it would have to do with a partner like Deloitte.

Thinking back to the days when they were working on building the site aiWare.Com. Took it down some time in early to mid 2021. Always speculation, but around the time CortexAI was announced. And nowdays, they always say they are working through partners, except for M&E. And the CMO says "call Deloitte". Also have stated "expanded our partnership" with Deloitte, and had the head of CortexAI speak at investors day.

And again, the current aiWare section refers to "thousands of model instances", but the link leads nowhere. We have always known that Chad is overly enthusiastic about aiWare, billions of end users, etc. So what have they done with aiWare since they took down aiWare.com. Doubt they abandoned it. I remember on that site they were building a library, of what I guess would be similar to model instances, and they had specific tasks they were trying to incentivize developers to solve by using aiWARE, where they would get paid when their solution gets used. You don't see any of that anymore. But a company like Deloitte would have a vast amount of employees and partner resources to build out this "library" or "thousands of model instances".

So it's all speculation, but the Steelbergs have never let up on their enthusiasm for aiWare, saying back in Martch "tipping point" where partners were developing applications for their own customers. So hopefully something along these lines are what "BIG things are happening" means.

I really don't see how the Steelbergs feel they would benefit from just hype at this point. If things are dire, they should be pursuing strategic alternatives, not trying to hype an audience that is at their wits end with hype, and in a market where the sentiment for companies like Veritone is horrible.

Another thing is that if they have been doing all of this aiWare development behind the scenes with partners, will say again that there must be some interest out there in making a strategic investment around aiWare when Veritone stock is trading as if it were going under, which it is not. I've always thought that the platform made sense, and seems that it is at a time when there should be real interest in a platform like this as companies begin to migrate away from point solutions to enterprise AI platforms

Finally, have to throw in the fact of Ryan's recent $500k + purchase.

[GBR]

Would like to know what BofA an UBS were thinking when selling this to their clients. Here looks like a list of some of the convertible bag holders.
https://fintel.io/so/us/92347maa8

[KVM]

BTW. RS actually liked the tweet. So wasn't some rogue employee.

[KVM]

Holders of debt must be crying. 6 stock price when conversion 36. 1.75 interest rate when could probably get double that in today's market.Veri has made alot of people veri unhappy. And then have the gall to throw out these teasers about what's coming that will change everything. Just plain incompetence.

[GBR]

But Banta could also have been selling when the stock was in the 30s and 40s and plenty of volume. Bet they are kicking themselves.

Anyway, I still think there is a chance that we see some progress with aiWARE. While I don't think that Veritone has managed or guided investor expectations very well at all, most the of the bad sentiment coming from me and probably most investors is due solely to the current stock price. Many companies like Veritone are just out of favor in the market and left for dead. Veritone not alone.

We know that aiWARE showed signs of real growth, and Amazon just announced plans to hire 150K emplyees, well more that they lost through attrition. So that fairly coincides with Veritone 10Q that said Amazon revenues would resume to normal in the 3rd quarter. Could be pleasantly surprised when earnings come around. maybe

[KVM]

Sure the Steelbergs would be thrilled to buy the shares from Banta. So it seems Banta just couldn't sell their stake as opposed to holding because they had so much faith in Steelbergs. Believed the latter when they didn't buy additional shares at the discounted or should I say low prices.

[GBR]

Yesterday had a brief messaging exchange with beni over on Linkedin. He made a good point that Banta is literally stuck. They staked their reputation and future into Veritone. They have way too many shares and can't sell into this market with no volume or interest in Veritone shares. Banta is basically at Steelbergs mercy. For that matter, it is difficult for anyone with a considerable amount of shares to sell Veritone without crushing the stock even further.

Banta probably gets a lot of grief from their clients. Veritone probably is feeling the heat from disgruntled investors. Maybe the reason for the tweet yesterday. Put another carrot in front of investors in order to appease them. Well investors were not impressed.

30 minutes into trading and only 7k shares traded. lol

[KVM]

Don't really know what they are trying to accomplish by misleading, hyping and BSing. After 5 years think they would have gotten it. It's just like 1 misstep after another.

[KVM]

Credibility shot. More like a BIG JOKE and a laughing stock.

[GBR]

The opening stock price tanking on only 2000 shares should be a clear indication to the steelbergs that their credibility is absolutely shot. Any other company that tweeted something similar would have at least some buying.

[KVM]

Even if true whatever it is won't be disclosed or PRed for at least a year given their past history.

[KVM]

Oh yea they mislead. Like the time they posted 280 mil contract with Fed thinking it was sll them later to find out they only had a small piece of it.

[GBR]

Reminds me of the time they posted on their website that they won a contract with the Dept of Homeland Security as subcontractor to Deloitte. Then took it down and the news was never seen or heard from again.

[KVM]

See Draftkings going to partner with ESPN. 2 Veri customers.

[KVM]

Figured out big happenings that will change everything. They landed a non Amazon customer that will generate over $1000 in annual revenue. COL.

[KVM]

How can you explain postings and then deletions. To me incompetence. Right hand doesn't know what left hand is doing.

[cpeter7]

No problem just trying to give us some hope. No idea why that even gets posted doesn’t do anything.

[GBR]

Now removed from Twitter. Maybe decided that the hype was just too cruel to their hapless investors.

[GBR]

cpeter7, thanks for bringing this info to the message board. Not holding my breath, but at least something. Thanks again.

[GBR]

Good one. Another dream would be a consortium around aiWare, and major partners churning out applications on aiWare, and finally an explanation of why they have this on their website, but the link goes nowhere. It's been that way at least since April.

Autoscale for production to thousands of simultaneous model instances across data types performing in near-real-time.
https://www.veritone.com/aiware/enterprise-ai-benefits/

They never say anything about thousands of model instances.

[KVM]

And maybe a 9 figure contract from the fed.

[KVM]

Only game changer for me would be Fed adopting Aiware for all branches, depts. and agencies of the gov.

[GBR]

Just hope whatever it is, it involves large partners, because "Big Things" don't happen from Veritone alone.

Probably something along the lines of synthetic voice though. JMO

[KVM]

Yea they throw out this world changing and technology changing tweets and then back it up with absolutely nothing.

[GBR]

Sad that it has reached that point, but it has reached that point. Veritone investors are in no mood for games, nor should they be.

[KVM]

One just said "hype".
Other 1 said and just paraphrasing hearing same BS for last 5 years just more fun and games.

Both comments from 2 small investor consulting firms.

[GBR]

Just going to paste it here in case it's deleted. Can you tell me what the negative comments said?

Tweet
See new Tweets
Conversation
Veritone
@veritoneinc
Stay tuned, this will change everything.

#BigThingsAreComing #ImpossibleIsOutdated

[KVM]

Still on Twitter. May be didn't like negative comments on Linkin.

[KVM]

Looks like they deleted it already. I can't find it

[KVM]

Being so big I guess that's why they can't PR it.

[KVM]

2 out of 3 comments call it out as BS. Only positive comment from Veri employee.

[cpeter7]

I think that news about Amazon is the best in awhile. I think it shows Veritone really is in the loop with Amazon. Also a weird post from Veritone on Linkedin. Hopefully our pain is ending soon and we get a much needed jolt in the stock price.

https://www.linkedin.com/company/veritone-inc-/posts/?feedView=all

[KVM]

3q earnings should could tell all.

[GBR]

So they shed 99K jobs earlier in the year through attrition. Now hiring 150K. So if still using Pando should be quite a boost. Combine that with continued aiWare revenue growth, starting revenue generation in energy vertical, and new revenues generated through Vertione Voice. Maybe we could get some sort of recovery in the stock,

[GBR]

Amazon hiring 150K holiday workers

https://thehill.com/business-a-lobbying/business-lobbying/3676452-amazon-hiring-150k-holiday-workers/


Now just need to know if Amazon still using Pando. lol

[KVM]

Sounds like could be something more than just economy. But who knows.

[GBR]

They were over 35 bucks back in July of 2020. Now 2.94

[GBR]

Appen is an AI company involved with training data. They own Figure 8 Federal, which has worked with Veritone.

If their report out today is any indication, it may not be good. Their stock tanking today and even prior, has been absolutely crushed, and they were profitable.

https://finance.yahoo.com/news/ai-firm-appens-shares-tumble-001428527.html

[KVM]

Beginning coming to the realization they have nothing except hype and BS. Like Beni said not 1 major contract or partner generating any kind of meaningful revenue since IPO. If 3q a disappointment and same BS will totally and permanently be out and just take my losses and move on and just dtick to the #streets. This has just been too long with absolutely nothing.

[GBR]

From a July 26 article.


GRC SaaS company Exterro valued at over $1B in new round of funding
“We are targeting a 2023 IPO,” Bobby Balachandran, Founder and CEO of Exterro, said. “It has been some time since we crossed the $100 million Annual Recurring Revenue (ARR). We had quadrupled our revenues after partnering with Leeds Equity in 2018,” he added.

He said the company also planned on closing four to five meaningful acquisitions ahead of its public listing to expand its suite of products in cybersecurity compliance and to add geographical expertise.

https://yourstory.com/2022/07/funding-grc-saas-exterro-one-billion-leeds-equity/amp


But yeah, we aren't going to make any money with just the redaction app. And Exterro is relatively small. But Hopefully it's nice to see that it is an integration into their platform and not just Veritone redact app competing with other redact applications. We just badly need announcements of more and larger integrations.

And incredibly, to date we still have not seen anything resembling a customer or partner creating an application on aiWare. Very sad.

[KVM]

Don't think they even have 100 mil in annual revenue. And most are not GLC customers.