You can skip the first 19 minutes or so by reading
Post# of 72440
(Total Views: 305)
Posted On: 11/10/2017 1:06:27 AM
You can skip the first 19 minutes or so by reading this summary: I think this is accurate but I've incorporated some stuff that he didn't say but that is part of their history.
Overstock's website business is doing pretty well. Amazon is still the big dog in the business but their small losses are much less than the rest of retail.
They have spent about 160 million to develop their multi-billion dollar business. Rivals keep popping up that spend huge amounts on ads, promotions, etc. Wayfair is losing tremendous amounts of money trying to take over the business. [editorial note: when I've checked Wayfair's prices, they are way higher than other vendors.]
They have a small group of very well paid genius developers so they've gone from piecing together 3rd party software to having their own, which consistently wins awards for both Android and iOS.
But the real value of the company is in their venture capital area. They have investments in, or own, a lot of companies that are the leaders in the blockchain technology which makes things like Bitcoin possible, including their T+0 trade settlement technology. The SEC, formerly their enemy (because of the attacks by shortsellers on the company -- at one point 110% of the company's stock was listed as short, an obvious impossibility but SEC wouldn't do anything about it) -- the SEC has certified them as being an SEC-compliant electronic stock exchange.
If you start to listen to the video at around 19:10, that's where he starts talking about instant trade clearance.
Overstock's website business is doing pretty well. Amazon is still the big dog in the business but their small losses are much less than the rest of retail.
They have spent about 160 million to develop their multi-billion dollar business. Rivals keep popping up that spend huge amounts on ads, promotions, etc. Wayfair is losing tremendous amounts of money trying to take over the business. [editorial note: when I've checked Wayfair's prices, they are way higher than other vendors.]
They have a small group of very well paid genius developers so they've gone from piecing together 3rd party software to having their own, which consistently wins awards for both Android and iOS.
But the real value of the company is in their venture capital area. They have investments in, or own, a lot of companies that are the leaders in the blockchain technology which makes things like Bitcoin possible, including their T+0 trade settlement technology. The SEC, formerly their enemy (because of the attacks by shortsellers on the company -- at one point 110% of the company's stock was listed as short, an obvious impossibility but SEC wouldn't do anything about it) -- the SEC has certified them as being an SEC-compliant electronic stock exchange.
If you start to listen to the video at around 19:10, that's where he starts talking about instant trade clearance.
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