Thursday, July 13, 2017 3:42:07 PM
This is true. It's hard for big companies to change. Instead it's usually easier to exert leverage and grind the other party down which seems to have be happening here with each renewal (with Steve bending over for poorer guarantees but "more upside" that never seems to come). The inertia of status quo is pretty powerful though.
"""You've also tried that 17 years of Clipstream failure numerous times. Reality is a little more nuanced."""
For sure.
"""The first Clipstream has little to do with what they're trying now."""
Yes and no. The core concept of "playing video without the need for a plugin" is pretty much as it has been since 2000. The implementation has certainly changed over time (Java to Javascript, codec changes, etc.) The opportunity, to the extent one exists, in my view is with whatever value added features they can come up with for some market that actually wants to pay dollars for them. Steve V clearly couldn't do this and I don't have high hopes that "CFO Fred" is a guru here.
I think DSNY is a "bet the jockey" situation here. And I wouldn't bet on Steve, and most certainly wouldn't bet on CFO Fred as the new CEO. I'm sure he's a competent accountant though.
IMHO what they probably should have done was made Freddy the interim CEO and then gone and found a REAL tech leader, load him with options and see what he can do. Making the CFO the CEO is uninspiring at best in my view.
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Caller: But why did you back away from your prior guidance?
Eric Kelly: I am sorry? Hello?
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