RE: AGM21 Jul 2024 17:51
It shouldn't be me trying to explain this it should be Mirriad -:
Topics discussed at the AGM included, director pay, director options, corporate governance (again & again & again) programmatic, failure to engage or inform the company's private shareholders of how the business works in practise.
Let me be clear, 2phevs speaks the same tech language as the CEO, probably more so than anyone on the board of directors does & therefore gets it, in terms that are way over my head, that's for sure.
I would also say from my observations there, that 2phevs doesn't understand some of the less exciting bits of the company to the same extent, probably because its of less interest to them, which is fine, as everyone has strength's & weaknesses.
The directors tried to explain Programmatic at the meeting by comparing it to the building of the "channel tunnel" (I don't think on reflection this was a very good comparison at all) they talked about drilling/digging there side of it & then providing the tools & equipment to there partner on the other side & waiting to meet them in the middle & being able to stand at there end & being able hear there partner coming (as if they were nearly there & not only would you be able to hear it you'd see them breaking through).
Up until the meeting, I thought of end to end Programmatic as being a simple process where you could clearly define the critical path to achieving it. How wrong I was.
The best way I would describe it from the limited amount of new information the directors were prepared to shed light on at the meeting would be this.
Imagine you are north of London (Advertiser) & want to end up south of London (Content Provider) how do you get there ? the easiest route (connection) would be either clockwise or anti clockwise on the M25 (1 road).
Sadly the landscape is much more complex than that & in some you have to go through various London Borough's (SSP or another organisation) to get to the end point. In some cases it might only be a 1 or 2 Borough's that the detour takes you on, on others you might need to go through 5 or 6 & until all of them can do end to end working your held up with little you can do to influence the timing of it happening.
The company needs to find the right way to explain it to shareholders & to do so immediately.
(I'm not even sure if 2phevs fully understands how end to end programmatic can / will be achieved & how we'd know if it truly has been given the somewhat misleading comments Mirriad has said previously about Programmatic.
They talked about concentrating on the ones that were nearly there (for now) but when individual names were mentioned by 2phevs they shut-up shop & refused to say which ones they were talking about.
They wouldn't talk or disclose anything on Content Providers or Advertisers names that shareholders brought up, yet 2 mins later when answering another question, bang they'd happily churn out 3 names !
Frustrating & disrespectfu
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