Sea’s Billionaire CEO to Forgo Salary as Cost Cuts Spread

Bloomberg2022-09-15

Singapore tech giant faces pressure to reach profitabilityStock plunge has left shareholders questioning Sea’s strategy(Bloomberg) -- Sea Ltd.’s top management will forgo their salaries and tighten ...

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Comments

1MStream
2022-09-15
1MStream
Good
Mark6886
2022-09-15
Mark6886
Li was too greedy... he expanded his business too fast and furious... Tencent also pulled the support for him ... going to places that he was not familiar, especially like India ... China's gaming regulations also turned on him ... this is probably why he will find it difficult for him to find new funding as all will be wary about how he can turn his company around... Haiz ... Anyway, hope he can turned SE around and be humbled by his lessons learned
- Kenny1911:
  like
- Edwardtoh:
  Lik e
- AlaRicUnagi:
  👍🏻
- daz888888888:
  Wow
- ZeeJay:
  🤗
GodSpeed
2022-09-15
GodSpeed
Drop drop drop like grapes
OpenSesame88
2022-09-15
OpenSesame88
Good move
blessed_1
2022-09-15
blessed_1
Good
- GodSpeed:
  cm
Nanamoney
2022-09-15
Nanamoney
Let's see how long will it last that management forgo its salary. In my view, it will go down to staff soon !!!

Leave a comment

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The company has lost about $170 billion of market value since an October high on questions about its money-making prospects and a global decline in tech stocks.“With investors fleeing for ‘safe haven’ investments, we do not anticipate being able to raise funds in the market,” Li said, reiterating that the company’s primary objective for the next 12 to 18 months is to achieve positive cash flow as soon as possible.The company will cap business travel to economy class flight fares, with travel meal expenses limited to $30 a day. It will also curb spending on hotel stays for business trips to $150 a night, and cull reimbursement for meals and entertainment bills.“The only way for us to free ourselves from relying on external capital is to become self-sufficient, generating enough cash for all our own needs and projects,” Li said.Sea is facing increasing pressure to simultaneously grow and control costs. Consumers are pulling back on spending online as rising interest rates and prices weigh on the economy, while investors are becoming less willing to bankroll growth without profits.After grappling with a string of extraordinary setbacks this year -- including India’s abrupt ban of its most popular mobile game -- the company is looking to take significant steps to move from unbridled growth to profitability.The company has said it expects gaming arm Garena to post its first decline in bookings this year, and last month, it withdrew its 2022 e-commerce forecast.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9934298141,"gmtCreate":1663251633984,"gmtModify":1676537236956,"author":{"id":"4100244017025200","authorId":"4100244017025200","name":"1MStream","avatar":"https://static.tigerbbs.com/3de0b4ff048a8e3e8222792d49d46597","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4100244017025200","idStr":"4100244017025200"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9934298141","repostId":2267577575,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9934202221,"gmtCreate":1663250846563,"gmtModify":1676537236674,"author":{"id":"3573000854967629","authorId":"3573000854967629","name":"Mark6886","avatar":"https://static.tigerbbs.com/c05735581440323ac5026600f105e400","vip":1,"crmLevel":8,"crmLevelSwitch":0,"authorIdStr":"3573000854967629","idStr":"3573000854967629"},"htmlText":"Li was too greedy... he expanded his business too fast and furious... Tencent also pulled the support for him ... going to places that he was not familiar, especially&nbsp;like India ... China's gaming regulations also turned on him ... this is probably why he will find it difficult for him to find new funding as all will be wary about how he can turn his company around... Haiz ... Anyway, hope he can turned SE around and be humbled by his lessons learned&nbsp;","listText":"Li was too greedy... he expanded his business too fast and furious... Tencent also pulled the support for him ... going to places that he was not familiar, especially&nbsp;like India ... China's gaming regulations also turned on him ... this is probably why he will find it difficult for him to find new funding as all will be wary about how he can turn his company around... Haiz ... Anyway, hope he can turned SE around and be humbled by his lessons learned&nbsp;","text":"Li was too greedy... he expanded his business too fast and furious... Tencent also pulled the support for him ... going to places that he was not familiar, especially like India ... China's gaming regulations also turned on him ... this is probably why he will find it difficult for him to find new funding as all will be wary about how he can turn his company around... Haiz ... Anyway, hope he can turned SE around and be humbled by his lessons learned","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":7,"repostSize":0,"link":"https://ttm.financial/post/9934202221","repostId":2267577575,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":103941120,"gmtCreate":1663251637715,"gmtModify":1663258967953,"authorId":3585379063279167,"author":{"id":3585379063279167,"idStr":"3585379063279167","authorId":3585379063279167,"name":"Kenny1911","avatar":"https://static.tigerbbs.com/103f35c8c97a332b73a2ac784f165e23","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9934202221,"type":1,"supId":0,"prevId":0,"content":"like","text":"like","html":"like"},{"id":103941130,"gmtCreate":1663251686940,"gmtModify":1663258967135,"authorId":3586301355400538,"author":{"id":3586301355400538,"idStr":"3586301355400538","authorId":3586301355400538,"name":"Edwardtoh","avatar":"https://static.tigerbbs.com/b46042c9b9b5dcea7d55f33bccb139cc","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-1","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Boss 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drop like grapes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9934677334","repostId":2267577575,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9934631984,"gmtCreate":1663234371248,"gmtModify":1676537233503,"author":{"id":"3581670993895630","authorId":"3581670993895630","name":"OpenSesame88","avatar":"https://static.tigerbbs.com/8acdaa8d911543916dedb8be1f245fd9","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":6,"crmLevelSwitch":1,"authorIdStr":"3581670993895630","idStr":"3581670993895630"},"htmlText":"Good move","listText":"Good move","text":"Good move","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9934631984","repostId":2267577575,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9934846521,"gmtCreate":1663224390363,"gmtModify":1676537231837,"author":{"id":"4112410321254552","authorId":"4112410321254552","name":"blessed_1","avatar":"https://community-static.tradeup.com/news/71622697830d9517eb67a61917d8a95f","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":4,"crmLevelSwitch":1,"authorIdStr":"4112410321254552","idStr":"4112410321254552"},"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9934846521","repostId":2267577575,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":103940664,"gmtCreate":1663250034739,"gmtModify":1663258964551,"authorId":3555741898245131,"author":{"id":3555741898245131,"idStr":"3555741898245131","authorId":3555741898245131,"name":"GodSpeed","avatar":"https://static.tigerbbs.com/ee5f7232b69fab8a90a42644f3305575","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9934846521,"type":1,"supId":0,"prevId":0,"content":"<u>cm</u>","text":"<u>cm</u>","html":"<u>cm</u>"}],"langContent":"EN"},{"id":9934843276,"gmtCreate":1663223744496,"gmtModify":1676537231715,"author":{"id":"3582942911161794","authorId":"3582942911161794","name":"Nanamoney","avatar":"https://static.tigerbbs.com/8624e691b889b8bc4515d1884744eb5a","vip":1,"crmLevel":4,"crmLevelSwitch":1,"authorIdStr":"3582942911161794","idStr":"3582942911161794"},"htmlText":"Let's see how long will it last that management forgo its salary. In my view, it will go down to staff soon !!!","listText":"Let's see how long will it last that management forgo its salary. In my view, it will go down to staff soon !!!","text":"Let's see how long will it last that management forgo its salary. In my view, it will go down to staff soon !!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9934843276","repostId":2267577575,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":51,"commentSize":14,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2267577575"}