Tight range, low volume, Big news, No news, 3X options Friday & Nobody wants to talk the - Block Ch | OSTK Message Board Posts

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Msg  43768 of 43863  at  6/16/2017 9:51:58 AM  by

waylonglvlt


 In response to msg 43767 by  berkstock3
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Strong Sell

Re: Tight range, low volume, Big news, No news, 3X options Friday & Nobody wants to talk the - Block Chain(Byrne, etal, CHARLATANS Forever)

U FNG CHARLATANS! B4 end of q....but NOT on the most volatile day where they could find a rise in their stock price after writing DOWN what percentage of this wonderful "portfolio of companies" tied to the Medici Ventures. IMO

Overstock.com's (OSTK) CEO Patrick Byrne on Q1 2017 Results - Earnings Call Transcript

May 8, 2017 1:59 PM ET| About: Overstock.com, Inc. (OSTK)
Q1: 05-04-17 Earnings Summary
Press Release 10-Q News
EPS of $-0.23 Revenue of $432.44M (+ 4.5% Y/Y) misses by $-14.33M
Patrick Byrne

Yes, and although I will go back and mention that t0 is introducing a product this quarter. Well, okay. There's some wincing going on, but it's a cherry product.

Jonathan Johnson

It's a great product. It may have some regulatory hoops. So I think the technology development will be done this quarter and I'm confident in saying that. It's where we have any regulatory hoops to jump through. What was the rationale behind the latest investments in Factom and Ripio? Ripio is a great company.

Patrick Byrne

Can you say how big the investment was?

Jonathan Johnson

In Ripio, we own about 2.5%. They've asked us not to say the dollar amount. It's a company now in South America that's working to have a digital payment system and bank the unbanked. We like their management team. We like technology they have built. It's promising and we think it's going to make money over time. And it's doing something socially really important by banking the unbanked.

Patrick Byrne

It's something like Bitt.

Jonathan Johnson

Well, a lot like Bitt, just a different sandbox. And when we see good ideas in different parts of the world, we're not going to say we bet on one player for the entire world. We think both Bitt and Ripio are promising. With Factom, they have a relatively long history for a blockchain company. We've tried a number of things from working on, putting land title to the blockchain, to now focusing on doing back office compliance for mortgage banking to help cut the compliance costs down by putting contracts and other things on the blockchain. We love their management team. And like a lot of startups, they've pivoted from one thing to another. We like where they've pivoted to right now.

Patrick Byrne

But they've stayed within blockchain and they are one of the OG blockchain companies with a great name and good technologists.

Jonathan Johnson

Great technologists and have gotten now industry expertise in their management in addition to some great technologists.

Patrick Byrne

One thing I'm going to mention before Jonathan goes on is not only has Jonathan actually, if you look at that Medici chart, not only has he done a fantastic job getting all that organized and the companies well-formed and all of those things you would expect. But really starting, but really leading and getting the right leadership into these companies and the right filling in gaps where needed. And also, a big part of this thesis of this investment was there would be some synergy possible by creating well, Jonathan, why don't you explain it?

Jonathan Johnson

Well, we think there's great network synergy among the portfolio companies. They are trying to -- many of them are trying to solve different problems with similar or same technology. And so getting them together, we think, accelerates it. So we are holding a Medici ventures blockchain summit and getting our teams together to figure out how to work better. We have a team of 20 developers that we [indiscernible] out to these different portfolio companies. These are experts in blockchain development, and they help accelerate the advancement of these portfolio companies. So our human capital is augmenting the venture capital, what we have invested into.

Patrick Byrne

Yes. And that is, we've had one such meeting already, and it is the case that people find, there's a lot of synergy between, or among these companies.



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