RE:RE:RE:Old Republic / First American Financial BlockChainThere is no IP and competition will absolutely come, this has always been known. One co could not conceivably fill the demand if this thing delivers as they describe. Many larger firms will design their own block chain and not have to rely and pay a service provider. FAF does $6b US in revenues, pays a divvy and FATCO is its largest subsidiary. This is a big sector with lots of big and small players, and with lots of money.
Speaking of raises its the natural thing as a shareholder to be antidilutive. But in this case, I think it’s needed and the sooner the better. I doubt the security audit is a problem,iif they find a problem fix the damm problem. Is Todd Taylor the one guy you want designing your BC? Did you listen to the CC - lol! Does Tommy have a few contacts in the industry and sound like a great guy and the not so secret weapon to sell this thing? Oh yeah.
So what do you guys think is the biggest risk to RB right now? Well first the big ASSUMPTIONS that the thing works as advertised and we won’t know for sure until sometime after they go live. But this nod to the gods out of the way, I think it’s the biggest risk is ability to scale and deliver the system to as many firms, as fast as possible.
You can’t do that operating on fumes - and they must be because look at all they are spending on, with no revenues. I mean even breaking out Tehachapi and sticking it in PWR costs. You need money - WHEN you need it. Even a million bucks would go far I figure. You can count on him not doing something that really gets u angry on this front, like other CEOs do.
They need to have detailed plans in place now in terms of the structure & org chart, the activities matched against a time line and commit to success (and SCALE) because thinking small won’t do. And to have this plan unrestricted by what may or may not be in the kitty at this time.
Yeah growth will be “non linear”, duh. But 60,000 transactions per mo. on a run rate (24 individual companies!!! x 2500 transactions) will take a lot longer than end of 2019. And 60,000 is nothing.
“Please sign here Old Repubic, our team will be calling on you in summer 2021 (but no promises) .” somehow doesn’t have a ring to it, LOL. So they need to be able to scale while they are the only game in town. As I see it, this is Jeff’s to make hay and give his shareholders a great success because the opportunity is that great - or to BLOW and not be a dominant player. Fortunately he can “blow” it in this sense and still really reward the shareholders.
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ps I’d like to see us changing the Board mix from just infrastructure to factor in B.C. Todd’s great and would make a great Director but obviously he can’t do that at RB.