Thread regarding Open Text Corp. layoffs

@m8 agreed engineering is the only place our AI may work and at that there are better solutions. We are the Dunder Mifflin of document management (paper) companies.

Per Dwight: "Whenever I’m about to do something, I think, ‘Would an id--t do that?’ And if they would, I do not do that thing." But at OpenText the id--ts run the place and have all the power and influence.

Hopefully the company that buys the pieces of OpenText turn those orgs around before we all collapse from being dizzy.

@m1 and if the career week stuff is any indication we're a decent chunk of that 3%.

Our internal stuff barely gets glances unless you're in Engineering.

@kx Copilot has barely more than 3% adoption. AI is useless trash smoke and mirrors. OT's problems go much deeper than your buzzword bingo bullsh-t.

The Competition Is Running Circles Around Open Text
Open Text's problem isn't product quality. It's that competitors deliver similar or better functionality with less friction and better user experience. Box trades at higher multiples despite half the revenue and zero profit. Why? Cloud-native, modern interface, fast AI rollout. Box customers get document Q&A and smart tagging immediately. No migration required.

Box's challenge is monetization; storage is commoditized. But on product velocity, Box is ahead. For enterprises that want ease of use with security, Box wins.

ServiceNow competes for the same AI budgets. Its agents autonomously handle IT tickets, approve workflows, and coordinate processes. That's real agentic AI, not document search with a chatbot.

ServiceNow trades at 10x revenue versus Open Text's 2x because workflow automation shows clearer ROI than document intelligence. When CFOs choose between agents that reduce headcount and features that speed up contract review, ServiceNow wins most of the time.

Microsoft isn't trying to beat Open Text. It's making Open Text irrelevant. Copilot in SharePoint and OneDrive offers document intelligence bundled into Microsoft 365. For most enterprises, "good enough" AI that's already included beats "better" AI requiring a new vendor and integration project.

Open Text's defense: Microsoft's governance isn't sufficient for regulated industries. True today: Microsoft is spending billions on Azure compliance. That gap is closing.

It will be below $10 by the end of 2026.

Glad I sold in December, hard to see how it gets back to 40

Like any investment, you can choose to crystallise your losses / gains or go long.

Hopefully OT isn’t your only investment.

Paul Duggan didn't go down with the Sand Hill Road ship. He grabbed a lifeboat, helped the Board throw the captain overboard, and is now the guy tasked with "optimizing" (firing) the engine room crew to make the balance sheet look better for the next phase of the company.
If you or anyone you know is in Customer Success or Renewals, Duggan is the one holding the axe right now.

Thanks for letting us know your feelings Paul. How about you get back to work on raising it instead of crying ?