Li was too greedy... he expand

2022-09-15

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

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

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Kenny1911
2022-09-15
Kenny1911
like
Edwardtoh
2022-09-15
Edwardtoh
Lik e
AlaRicUnagi
2022-09-15
AlaRicUnagi
👍🏻
daz888888888
2022-09-15
daz888888888
Wow
ZeeJay
2022-09-15
ZeeJay
🤗
Bruce Berry
2022-09-15
Bruce Berry
ok

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Anyway, hope he can turned SE around and be humbled by his lessons learned&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>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;</p></body></html>","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","highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":7,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9934202221","repostId":2267577575,"repostType":2,"repost":{"id":"2267577575","pubTimestamp":1663219318,"share":"https://www.laohu8.com/m/news/2267577575?lang=&edition=full","pubTime":"2022-09-15 13:21","market":"us","language":"en","title":"Sea’s Billionaire CEO to Forgo Salary as Cost Cuts Spread","url":"https://stock-news.laohu8.com/highlight/detail?id=2267577575","media":"Bloomberg","summary":"Singapore tech giant faces pressure to reach profitabilityStock plunge has left shareholders questio","content":"<html><head></head><body><ul><li>Singapore tech giant faces pressure to reach profitability</li><li>Stock plunge has left shareholders questioning Sea’s strategy</li></ul><p>(Bloomberg) -- <a href=\"https://laohu8.com/S/SE\">Sea Ltd</a>.’s top management will forgo their salaries and tighten company expense policies, as the Singapore gaming and e-commerce giant tries to shield itself from the economic slowdown threatening tech companies.</p><p>“The leadership team has decided that we will not take any cash compensation until the company reaches self-sufficiency,” Chief Executive Officer Forrest Li said in an internal memo sent to staff Thursday, days after Sea shut down operations in some markets and trimmed staff across its divisions. “We can now see that this is not a quickly passing storm: these negative conditions will likely persist into the medium term.”</p><p>In his 1000-word missive, seen by Bloomberg News, the billionaire addressed head-on the struggle for Sea in an era of rising interest rates, accelerating inflation and a volatile market. 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.</p><p>“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.</p><p>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.</p><p>“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.</p><p>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.</p><p>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.</p><p>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.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea’s Billionaire CEO to Forgo Salary as Cost Cuts Spread</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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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 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