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2024-08-28 16:11:46

Generalist on Nostr: Several points from $SQ Q2 call: - in 9 months, Amrita spent 800M to repurchase ...

Several points from $SQ Q2 call:

- in 9 months, Amrita spent 800M to repurchase shares from 1B authorization announced last Oct. Resulting YoY share count change: +32M. Can we stop calling employees shareholders, please? Better new 3B authorization make a dent.

-The SQ platform grew enormously, I understand moving fast culture and post covid tendie fat-statis grew technical debt. Jack even mentioned lag behind competitors offers in some cases. New backend, orders migration. SQ offerings sound will be ready by end of 24'. For prime sales motion time with marketing dolla kicking back in for GMV, now that business margins are finally in order.

-was out of loop w/ mining initiative. One analyst asked, Jack explained. Main ASIC provider Bitmain's chips are 6n. $SQ - 3n. Big market, superior product chip ecosystem (open source, composite building blocks structure), w/ Core Scientific contact already in place. Announcement missing dates. Nonetheless, Jack sees it as major revenue line.
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