Can only go by the limited information made available to the public but I will take a shot at that.
Small company going in too many different directions. They started as an advertising company, then in addition to advertising became an AI platform company. Then got into various applications targeting government and M&E. Then decided to get into the energy business. then decided to get into the HR tech business. All while being a small company. But in all these different directions, it was all running on aiWare. So not only are you spread thin trying to compete in all these different industries, you are trying to develop and commercialize an AI platform. All within a small company with limited resources. So basically spread too thin, trying to be all things to all people, lack of focus.
Led by the hubris of CS. CS tipping point comments were more wishful thinking than anything based on reality. And they took a gamble, and lost, with those convertible notes. Became financially challenged.
Since RS took the helm, all about making lemonade out of lemons. Focus and double down on what market penetration you do have. Work on a new roadmap for aiWare. New roadmap looks to me to be less about aiWare as a standalone platform, and more about using aiWare as a bargaining chip to open up market opportunities for the various verticals (HR, Public Sector, M&E).
Your comment: "So if Ai so hot why isn't anybody knocking down doors to invest in or buy Veri outright." I think they did have interest back in early 2021. According to Bloomberg, it was reported that there was interest in buying Veritone, or parts of it. Said Veritone would not consider any deal that Values the company less than $70 per share. The interested parties said "No Thanks" Veritone blew it by being too confident/greedy. jmo
