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sure looks that way
ok. Looks like just more bug fixes. https://docs.veritone.com/#/versions/readme
where do you see that? I just see the same aiWAre release update back from December.
Sounds to me like he's getting 1 million up front, plus 50 grand a month or 1.2M over the next two years. All for just providing "reviews and assessments". Plus, he still remains on the board.
We'll see. I think it's ready. All the recent release notes are just minor updates. And coincides with Greg Loose linkedin page indicating product roadmap completed by end of year. Today's 8K coincides with linkedin post from new CMO. Per RS, start of this year is beginning of new growth trajectory. lol
While not nearly as promising as during the "billions of end users" and "massive backlog" BS days, I think we may be pleasantly surprised this year. But I would be satisfied with 10. 5 would be disappointing but OK. Current price is horrific.
But we got Chad out of the way. Got the Ingram CFO on Board that could be influential. I think we have an aggressive CMO coming on. Still don't know their plans for Veritone Hire, and think CMO has a lot of contacts from her previous company.
Also, Saw on a Deloitte web page that was recently added, it said CortexAI coming soon. So makes me believe that CortexAI has also been trial based to date and not revenue generating. When aiWare 3.5 comes out, I guess it is possible that they could start generating revenues from the platform.
Maybe the Chad news today, is a sign that we may see a PR or marketing on aiWare 3.5 soon along with customer info.
2. Services. The Services will include such technical advisory services related to the Company’s software, software architecture and technology strategy that may be requested by the Company’s Chief Executive Officer (“CEO”) from time to time, including without limitation, (i) regular architectural reviews for the Company’s aiWARE platform; (ii) review of product development initiatives across the Company; and (iii) quarterly technical assessments of key technological advancements in the field of artificial intelligence.
For the avoidance of doubt, Consultant shall no longer have day-to-day oversight, management or responsibility for the Company’s aiWARE production systems, product roadmap, budget or personnel, except as may be requested by the CEO.
Like you say, what does Al Brown do? Why can't Al Brown perform the above duties?
It looks to me like maybe there has been a rift between Chad and the rest of the Board, including his brother. Chad thought aiWare was going to save the world. Ryan and the Board had to pursue a more realistic strategy. They gave Chad a year as a consultant to try to do something with aiWare. Nothing happened. Now just paying him off.
There is no question that the company owes its shareholders an explanation of what is happening with their platform and what CS accomplished. All we shareholders get to know about aiWare anymore is how much we are paying Chad Steelberg.
Steelberg has known Seth for many years because Seth was CMO for Alteryx, and also Lifelock before that, which was an old customer of Veritone
I don't know, his title is Chief Marketing & Strategy Officer. Think he had more to do with strategy than marketing.
Yeah we heard absolutely nothing from Seth. It's obvious that he did not perform any typical CMO role at Veritone. But before he came to Veritone he was interviewed in a podcast, and he sounds more like a dealmaker kind of guy to me. He did a great job for Intuit. But have no idea what he has done for Veritone.
She started with Veritone back in July as SVP, but looks to me like it was planned that she would be CMO
https://www.linkedin.com/in/vpmarketingpro/
I'm excited to announce I have been promoted to Chief Marketing Officer for Veritone! 2024 is the year of GROWTH - growth and investment in the marketing org - new roles we will share with our networks to fill strategic positions! Coming soon! hashtag#veritonemarketingrocks hashtag#veritone
yeah, can't figure them out. Ryan can spend 40 minutes in an interview and say nothing about how they differentiate. Buy Broadbean, and then go silent. All you see on Linkedin is posts about same old applications, running on aiWare which they never talk about.
We will see what this new CMO has to say. She seems pretty aggressive to me, and sounds smart. Also don't know why she would leave a more successful company to come to Veritone.
I'm giving it until March, then, if nothing, will start winding down. But if bad, then could be too late to wind down.
They say "we can't wait for the world to see what's in store for 2024". Gotta keep that carrot in front of the shareholder.
Banta ups from 2.5M to 3.2M
Yeah, his twitter page says "Former Global SVP Veritone Inc "
Interesting, I didn't see that June 2023 end date. Wonder what he's doing now if not still at Veritone. I thought he was a lifer there. Been there since the start
he put 2023 in by mistake. should be 2024
Greg Loose put down February as end date at Veritone. Starting his own consulting business.
Just have never seen such a disregard for the share price. And if I was new to Veritone in 2024, looking at Linkedin, it looks like all they are selling is Redact and Digital Media Hub. What are all these employees doing? An where is aiWare and Veritone Hire. The stock is reacting appropriately, they don't seem to care.
and they don't care about the stock price. Remember, they have another 10 years left of cash on the balance sheet.
Once again, for a 38 minute interview, he briefly mentions aiWare, but spends no time telling anything about it. Just sticks to M&E, Government, and HR.
Also new board member statement from CFO Ingram Micro. Just seems more applications and services oriented.
I look forward to bringing my expertise as they work to transform their cutting-edge technology into industry-leading applications and solutions.
RS says "disruptive growth" and "Despite lingering uncertainty across financial and consumer markets",
- we look to the start of 2024 as an inflection point in our growth trajectory.
IMO, only way for them to see any kind of growth is for some sort of strategic transaction to be executed, either involving aiWare or Veritone, a transaction that would add major credibility to the platform and Veritone business.
Noticed RD "message from the CEO" today. Again, no mention of aiWare or AI platform. All applications and services.
Except they are not hyping aiWare, which is very odd imo. In fact, they really are not hyping anything in public since RS took over.
Just unsubstantiated hype during the earnings calls, such as "disruptive growth" " "well on our way to being dominant in enterprise AI", etc.
It really does look bad, I know.
But they've taken aiWare out of the narrative. They just are not going to talk about it. It used to be a vertical. Now it's a division. When it comes to social media posts like Linkedin or Twitter, Veritone is acting as if aiWare doesn't exist. And without aiWare, Veritone is finished, unless they pull a rabbit out of a hat in HR or government. So the stock is trading as if Veritone is essentially going to go under. So the narrative of RS is taking the stock down. And they don't care obviously.
I've never seen such apathy for the stock price, the shareholders, analysts, and financial community in my 35+ years in the market.
In November,
Veritone established at least 3 more accounts on "X", formerly Twitter.
Veritone Public Sector. Veritone Hire. Veritone Media & Entertainment. Each account is locked, so in order to follow them, you need to get their permission.
Not sure what this indicates, if anything. Their regular Veritone account on X hardly gets any attention when they post, so don't know what they expect to accomplish with 3 more accounts.
Wonder why these big companies like Salesforce and SNowflake are just integrating the capability of accessing unstructured data into their products.
With this upgrade, Einstein Copilot will be able to retrieve information from unstructured data
and not even ready until February.
Salesforce's Data Cloud Vector Database and Einstein Copilot Search will be in pilot in February 2024, while Einstein Copilot will be generally available at that date.
https://www.zdnet.com/article/with-ai-upgrade-salesforces-einstein-copilot-will-handle-unstructured-data/
and aiWare.com already has Salesforce package.
They passed on that alleged non strategic asset sale. Were offered over 100m. But said it would have taken too long to close. So instead go for the high rate loan and rack up more debt. Lol
If you had to guess what is behind the disruptive growth comments, or just pure bs
Think there has been a lot of confusion over the years of what they want to be. Used to be all about aiWare and wanted to only have 1% of the applications. Then bought pandologic, a total deviation from strategy. Then started buying little fill in technologies like vocal id and tracker. Then bought broadbean. All gives the appearance of no focus. Where would Veritone be if 100% focused all the way through.
And another thing. They used to brag about how fast they could develop an application like illuminate. Based on that they should have 100 applications.
But certainly a head scratcher that they drop over 50M on Broadbean, money they can't afford to part with, knowing they would have to seek more capital, and to this day, spend time fussing over the likes of Orchard Clips and AirSpeeder. No Veritone Hire page. No PR on any Veritone Hire new business. No aiWare news.
Just Digital Media Hub and Redact.
Deloitte is another example. Why no investment from Deloitte or similar.
That point is one of the main reasons Veritone wallows in penny stock land.
This is a lame answer but from everything I have learned about aiWare from Chad S is that he wants aiWare to democratize AI. Meaning no favoritism or bias. Cloud agnostic.
OpenAI pretty much married to Microsoft and Azure cloud.
I remember back when Chatgpt came out and was all the rage, RS made a comment on Linkedin, something to the effect of we'll watch and let the giants fight it out with these LLM's, we're agnositc, and can accept any application or AI model. And back in August he said the LLMs won't be differentiated, but the differentiation will come from orchestrating LLMs with domain specific models.
Of course, that stance does them no good if it leads them to bankruptcy, or wiping out the shareholders. But any major investment from one of the major players creates bias.
But that still doesn't explain why Veritone could not take an investment from the many other cloud agnostic players. Snowflake is an example.
But bottom line is that it is a good point. Veritone at 2 bucks a share, swimming in debt, with no reputable backing.
Only thing we have now is that the lenders now have the option for a significant stake in Veritone. They could make a lot of money on those warrants.
I can see why aiWare itself as a product has not brought in meaningful revenues to date, if it has always been in development and being deployed as proof of concept.
But now we are at the end of Chad's year as a consultant, and we are seeing the giants move towards aiWare like features. So the trial period should be ending now. jmo. If nothing between now and March, then they are finished.
This conversation reminds me of this quote by CS.
From an overall business standpoint, today, industry titans, such as Amazon, FedEx, Microsoft and Disney are not only our customers, they are also our partners and in many cases, evangelists. As customers, they have literally hundreds of millions of dollars being exchanged across our aiWARE-enabled solutions and trust us with some of their most critical business operations from hiring to customer acquisition to core technology. As strategic partners, together, we are developing new applications and capabilities into aiWARE that extend and expand the use of AI nearly every day." - Chad Steelberg May3rd, 2022
The last sentence: "As strategic partners, together, we are developing new applications and capabilities into aiWARE that extend and expand the use of AI nearly every day."
So now we are seeing these "industry titans" come out with aiWare-like features. And RS and Zemetra have alluded to 2024 disruptive growth for the last 2 earnings calls.
But the most glaring problem as you have pointed out. Why no investment from these titans? Why does Veritone have to secure a high interest rate loan, and be strapped with debt? If developing aiWare together, then why Veritone still going it alone?
We also have heard nothing about the strategic minority investment yet, but they are still carrying it on the books for the same value.