What is PS legacy. Here are a few
PLC
ELT
SBU
DEI
Deep Sector
Cloud
CUSIP
Hiring Success
Stock/Shareholder performance
2 replies (most recent on top)
- ruined culture
- Got rid of long term employees who were a threat to him
- Nonsense DEI initiatives
- RR, HS and revolving door of sales managers under him all have caused chaos with poor performance
- horrible acquisitions
- Stock performance shows it - down 40 percent ytd and negative for last five years
Are you inferring Cloud was a success? About how a system that cost $250K/yr a year, all in (software, licenses, electricity, DC rental, hardware, etc) that then when hosted in cloud was 1.5mil/yr a success? All while Margin Expansion was being carried out? Just basic math says if you need a fleet of trucks to run 24x7, that its a lot more economical to buy them than to rent them. Sure, if you need an additional 100 trucks for a day or week, go ahead and rent... but to go rent 100% of your baseline needs is not financially prudent.
Now fast forward to the AI nonsense which PS was happy to use as a distraction from the massive increase in IT spend cloud brought. Now even the street is strongly doubting whether the IT/AI spend will actually result in any meaningful revenue. Right now, it rightly looks like its mostly a drag on margin.