Wow. Look at what you have become: a parody of a parody. If it...

Wow. Look at what you have become: a parody of a parody.

If it was Friday night, then it could at least be excused a few too many sherbets.

So we didn't get an announcement today re: Amelia teaming agreement elapsing. No surprises there for LT NOR followers.

I was reminded of the 22/12/15 Ann with NOR partnering with Stripe and PIL to form "World Credit". I had completely forgotten about this product.

The promise:
"This change will enlarge Norwood’s addressable worldwide market, as well as expanding use cases for World Phone and other Norwood Apps beyond the existing roaming traveller market into the generalised long-distance market."

What did PO have to say about it:
"“I am very excited to introduce World Credit to the public, as it is an initiative that we have been working on for some time now. It leverages the best insights of one of the world’s foremost telecommunications pricing experts, who has been advising the Company on its global pricing strategy since August this year. World Credit lays the foundation for a future consumer multi-App business for Norwood – a significant part of our strategy – with a single common payments framework across all such Apps."

I think "one of the world’s foremost telecommunications pricing experts" refers to Mans Shapshak. I am unsure who hands out the gongs for telecommunications pricing expertise. But safe to say, WP pricing and business model was a disaster. It was based on NOR handing out free credit with the hope there would be some stickiness with users then buying additional credit. The Indians working in the ME loved it. They could call home on NOR's dime. NOR burned through millions on this useless campaign.

How is this relevant to today's NOR?

Another NOR business model has failed re: VM revenue share.

But don't fret, PO gives hints in AR21 that he has another plan.

First NOR sets the stage with some big numbers:
"Norwood estimates the global voicemail upgrade/replacement to be approximately $1 billion p.a. in addressable market value. This is borne out of Norwood’s understanding¹ of the current global value of voicemail maintenance revenues alone, which is understood to be on the order of $0.5 billion p.a."

The key to understanding the big numbers lays in the footnotes:
1. Internal Norwood estimate

AKA NOR made up a big number and then extrapolated it. It is not based on anything scientific or independent.

So where to from here:
"Norwood signalled that it was investigating how to build such a general purpose platform, with the signature service feature of the new platform being an extremely advanced conversational AI dialog engine..."

"Norwood has tested the market attractiveness of this concept – namely the idea of giving telco subscribers a high-quality cutting-edge personal virtual assistant"

"Norwood is currently working with some intensity on bringing a compelling ‘beta’ version of this new service to market in the near term...."

"Extremely advance" 'High-quality cutting-edge" "working with some intensity"

Such laughable hubris.

All IMO