$Sea Ltd(SE)$ sea group shopee has been giving out free money from its cash coffer. For example, I bought an $8 item and got about $2 rebate from shopee for my monthly mobile plan. Will do it every month as shopee is giving me 25% discount. I doubt even the commission it charges to the supplier covers it's cost. So I am quite sure a lot of sea group accounting is untrue and in fact they are making large losses but not reporting truthfully
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Anyway i have used Shopee for years now before and after covid and realized that in the past when they were burning investors' cash the vouchers and daily coins you eam were wayyy more vs today
In that sense they are already cutting back
Also, the CEO is someone who I believe has what it takes eg even going to the extent to turn profitable by switching from 3 ply toilet paper to 1 ply toilet paper. Pantry refreshments were also apparently reduced.