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PaperclipPerfector  4mo ago (text post)   38817 thread views

Culture War Roundup for the week of July 15, 2024

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I think the problem is that "good job" doesn't mean "not messing up" in the context of these compliance-as-a-service or security-blanket-as-a-service companies. Instead, "good job" is "implement as many features as possible to a level where it's not literally fraud to claim your product has thay feature, and then have a longer checklist of supported features in your product than the competition has so the MBA types choose your product".

CrowdStrike's stock price is only down by about 10% today on one of the highest-impact and highest-profile incidents of this type I've seen. I'm pretty sure their culture of "ship it even if it's janky and broken" has netted them more than a 10% increase in net revenue, so it's probably net positive to have that kind of culture.

Their net revenue is under a billion a year. The total economic damage caused by this single bug is almost certainly larger than the total net income of the entire history of the company. In fact, it is almost certainly larger than the total gross income of the entire history of the company. I do not know where the valuation is coming from, but it certainly isn't from their revenue figures.

Lol P/E of 644.

But it's a hyper-growth company bro, surely they'll be able to pivot to making money once they've captured the full market bro.

Yeah but if they're not liable what relevance does that have to their share price?

I don't know if they're liable or not. I doubt Crowdstrike knows if they're liable or not.

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