Yeah I agree, but I think something like a ~20% reduction in headcount should have happened 12-18 months back. Hiring has a lagging effect so the trade-off is capital burn (employee cost) vs productivity (employee output). The amount of revenue/investor money doesn't justify the size of the workforce IMO. It shows a lack of prudent capital management to run an organisation this big without the revenue to justify it.
An even worse capital management red flag is these high CEO/exec salaries. The majority of compensation that AF is getting should be from *equity*. Having such high non-equity income de-risks AF from truly being "all-in" on 4DX and makes it okay to fail (and 4DX to fail), because he still made good capital from the company. It also significantly reduces the run-rate of the company and means the company needs to raise more capital - which isn't good for long-term shareholders.
4DX Price at posting:
38.0¢ Sentiment: Hold Disclosure: Held
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