While it is very disappointing that they have had to tap shareholders again for capital I think its slightly harsh to paint the company as lifestyle company given the board are currently receiving no salary, Mat has taken a 50% salary reduction and other C-suite have taken a 30% pay cut. They also have a track record of being basically the biggest participants in the raises the company undertakes.
Based on this I am less worried about their alignment with shareholders and their commitment to the company's success than I am the overall economy. The global economy and customer acquisition is the bigger concern in my opinion.
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