I often wonder when using Hotcopper, where are all the adults? There are plenty actually, very experienced and incredibly savvy investors, journalists, professionals in Finance, IT, Mining, etc. It's not the 'mum and dad' none-the-wiser dumb money it is often perceived - and I remind myself, most adults are mum and dad. Grandpa and Grandma, even. Or if as old as me, great! (see what I did there?)
That said, I am often reminded kids these days grew up with technology. They are here too, in the adolescence and 20s, or in 30s but "baby" when it comes to economics and finance... when it comes to business.. when it comes to stock markets (who may have exposure over years but without proper instructor) wanting to learn.. wanting to get a leg up in the world... but conditioned to treat the internet like a Royal rumble wrestling match, dog eat dog, where every one taunts each other, like what they see in the movies.
Where am I going with this? Well... there's obviously a lot of inexperience across this forum. But there's also a lot of experienced individuals- professionals.
The thing is, those with experience can't be bothered to correct or explain or share information... they want to take and not give.. because it's easier.. because it's a waste of time talking to someone who obviously hasn't even finished high school accounting.. because some thinks they are better off just ignoring. So it's a self-serving, self-perpetuating, systemic issue.. which is bigger than Hotcopper.
Here's a good example about capital raise.
The company doesn't earn anything. It is all cost to operate and keep going. Quite literally the purpose of publicly listing is to raise capital to keep going. Quite literally the only way for the company to keep going in funding cost is to raise capital.. in whatever means necessary. It doesn't matter if they have 3,4,5 quarters left of runway.. the biggest risk of all is default/bankruptcy/running out of cashflow, for ANY company... that's called "going concern". BUSINESS 101!
Yet some here question it. Some thinks they know better. As if their voice has any sense of legitimacy or their point of view, deserved listening to... when in fact they are merely showing how little they know when they question capital raise, how basic their understanding of business and startups and have the guts to even bring back up previous announcements as if they hold water.
On the flip side of the coin, I notice experienced adults who actually know what they are doing or who are also obviously wuite senior in their respective career (it's obvious ok when you're talking to a CFO vs 5 year old, if you're as old as I am or equally experienced enough - we know who knows when to use EBITDA and why it doesn't matter, when someone speaks), anyway they come here, and do nothing about it when we are perfectly able to lead the conversations so it remains professional. So it remains respectful. So it stays civil despite clash of point of views, experience, age, whatever.
Those who are obviously new to business can't articulate themselves and so they criticise. As opposed to concisely expressing legitimate concern to their investment, they instead troll.
Those who are obviously experienced business people ignore or otherwise snark back. I do this at times too. The urge to defend one's industry, life's work, prestige and experience from kids, or adults acting like one. Rolling their eyes to every conspiracy theory instead of politely telling the person they're nuts.
I don't have all the answers.
I think if you're angry or frustrated, don't post. Take time out. But irrespective, we lack rules of engagement. We lack empathy and understanding.
There is no reason to suggest we can't have civil pub-like chats/conversations here. Also I think it's high time those who actually do have experience to explain to those who may not know better, but please politely and try best not to be condescending (I know it's tough trust me), and share information and knowledge. Share your list of risks and what makes you assess based on those risks, to invest or not to invest. Point of entry and exits.
This topic is a good start: Capital raise.
It's obvious based on the conversation around this here, by itself alone, people don't understand or perhaps forget that "going concern" is top of mind of every Board of every company, big or small. It's not share price (and every single one who goes on and on about share price drop sue to cap raise - seriously stop - you're like a kid screaming at a Board meeting).
Going concern. Look it up.
I'll be switching off for a bit but will be thinking about this over Christmas and New Year. We can't control others but we have every power to control ourselves.
I think it's time to go home.
Have a nice break everyone! And I do hope you take a break. Money isn't everything.
Cheers
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