I'm not that negative about the whole sector but FLN is #4 in this space (below UPWK, FVRR and Toptal) and hasn't grown since 2016. Remember all those predictions that COVID would be good for FLN?
About AI: it's not good for FLN.
(1) A lot of people are just going to go straight to the AI, with no middle-man involved. The results are instant and cheaper than FLN.
(2) A pure-play "virtual AI assistant" startup doesn't need lots of employees in Sydney and Manila. Matt's pool of low-quality freelancers isn't a competitive moat here either.
There are over 6000 AI startups with collectively over $US10B in funding. If you were good at this stuff, why would you work for FLN? There isn't a single "regular employee" (a few Matt cronies from way back and Neil Katz has 0.2% or more) in the top 20 shareholders - suggesting that working for Matt will get you 0.1% of the company, tops. That's worth $A92K - signing bonuses are bigger.
(3) Then, even if you want a hybrid play and to follow the idea that "you need a freelancer to ride herd on the AIs" - why FLN and not its competitors? They've heard of AI, too.
In addition to your points about knowledge/skills, FLN doesn't have any money left for acquisitions or big technical developments. They're close to broke - negative working capital. A pure-play AI startup in this space with no track record would probably find it easier to attract funds than a "no growth since 2016" conglomerate (marketplace, Escrow, trucking) with a bad balance sheet and KMP pulling >$A1M per year out of the (already money losing) bottom line.
- Forums
- ASX - By Stock
- FLN
- Ann: Appendix 3Y
Ann: Appendix 3Y, page-16
-
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FLN (ASX) to my watchlist
(20min delay)
|
|||||
Last
18.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $81.16M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 112558 | 17.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
17.5¢ | 20000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 112558 | 0.170 |
3 | 32181 | 0.160 |
1 | 18756 | 0.155 |
1 | 33901 | 0.150 |
1 | 7142 | 0.140 |
Price($) | Vol. | No. |
---|---|---|
0.175 | 20000 | 1 |
0.180 | 10000 | 1 |
0.185 | 59949 | 1 |
0.195 | 10000 | 1 |
0.200 | 4000 | 1 |
Last trade - 16.12pm 28/08/2024 (20 minute delay) ? |
Featured News
FLN (ASX) Chart |
Day chart unavailable
The Watchlist
UNT
UNITH LTD
Idan Schmorak, CEO
Idan Schmorak
CEO
Previous Video
Next Video
SPONSORED BY The Market Online