Las Vegas Sphere reports $98.4M loss; CFO quits • Hacker News Board

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#51

Post by corysama » Thu, Nov 09, 2023, 4:25 PM UTC

falcolas wrote: post #26

Meta: Someone please correct me. The outside of the Sphere is pretty damned awesome, with its interactive elements and novelty. I'd visit Vegas just to watch it, not that they'd make any money off me for that. The inside looks like an IMAX theater combined with a few planetarium features (lazors?). And, well, I have a really nice IMAX theater only an hour away from me. Why would I pay a premium to see the one in Vega…

IMAX digital is a full-FOV 4:3 4K display with 44 speakers.

The Sphere interior is a wrap-around 16K display with 168,000 interference-coordinated speakers.

It’s like IMAX squared :P

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#52

Post by hindsightbias » Thu, Nov 09, 2023, 4:26 PM UTC

Time for a public bailout.

Decades back in downtown Houston there was an art display of very large screens (plasma I think) in an array angled over a reflecting pool. It played some weird psychedelic imagery in a loop. Maybe Tranquility Park, I forget. Back then, downtown was desolate after 6pm so I cut through it at dusk for some scenery.

There was a homeless guy wearing a Santa cap standing across the pool from the screens. It was December. Leaning to one side and a bottle in hand. I joined him and after awhile he asked "what does it mean?"

I said I didn't know but he should let us know when he found out. Gave him some money.

When I think of this sphere, we should put a nuclear plant and AGI in it and it can play some part in a dystopian future where it's the final altar of the technostellasphere.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#53

Post by chollida1 » Thu, Nov 09, 2023, 4:27 PM UTC

jeffnappi wrote: post #32

LastTrain wrote: post #23

Earlier quoted context omitted.

It is, which is why they have to report the loss. SPHR - let us know how it goes!

Fascinating, a brand new entity that effectively went public the day it began generating revenue. Are there other examples of this?

> Fascinating, a brand new entity that effectively went public the day it began generating revenue.

This isn't correct.

THe stock has been public since 2020. It just happens to own the Sphere.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#54

Post by albeebe1 » Thu, Nov 09, 2023, 4:29 PM UTC

falcolas wrote: post #26

Meta: Someone please correct me. The outside of the Sphere is pretty damned awesome, with its interactive elements and novelty. I'd visit Vegas just to watch it, not that they'd make any money off me for that. The inside looks like an IMAX theater combined with a few planetarium features (lazors?). And, well, I have a really nice IMAX theater only an hour away from me. Why would I pay a premium to see the one in Vega…

it's amazing. You've never seen anything like it before, and the sound is like nothing you've ever heard before.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#55

Post by jon-wood » Thu, Nov 09, 2023, 4:35 PM UTC

nonethewiser wrote: post #30

toomuchtodo wrote: post #13

Earlier quoted context omitted.

You'd want to wait to be part of recapitalization after a reorg is required. The deal is made on the buy, not buying someone else's bags. EDIT: See gosub100's comment [1]. (not investing advice, educational purposes only) [1] https://news.ycombinator.com/item?id=38206727

Sure sounds like investing advice

Yes, but they’ve said it isn’t, which is apparently sufficient even if you run an ad saying “InvestCo is great, you can make a ton of money from them [terms & conditions apply, you may actually lose money instead, not investment advice]”

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#56

Post by devinegan » Thu, Nov 09, 2023, 4:36 PM UTC

falcolas wrote: post #26

Meta: Someone please correct me. The outside of the Sphere is pretty damned awesome, with its interactive elements and novelty. I'd visit Vegas just to watch it, not that they'd make any money off me for that. The inside looks like an IMAX theater combined with a few planetarium features (lazors?). And, well, I have a really nice IMAX theater only an hour away from me. Why would I pay a premium to see the one in Vega…

The inside of The Sphere is so much more impressive than the outside. The resolution/crispness of the “screen” isn’t talked about but it is a unique experience, unlike any venue or film I have ever been to. I went to U2 a few weeks ago and want to go again. The IMAX comparison is not even close, they are calling it 18k and if you can imagine an IMAX screen wrapping all the way over your head you are on the way. I have heard the U2 show is more impressive than the film, but I haven’t seen the film yet.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#57

Post by hoofhearted » Thu, Nov 09, 2023, 4:36 PM UTC

nixass wrote: post #45

Las Vegas is like Dubai but with alcohol. Such a desperate place.

The only minor difference is about 80 years of economic activity; and a few super secret military projects, including one that helped launch the atomic age.

Also the two cities both have modern engineering marvels in their own right. Just one had a really tall building that served as a symbol of power, but with no real purpose. The other has a massive dam that took amazing diplomacy and bureaucracy to convince 7 states and Mexico to agree to tame a wild and destructive river; in exchange for generating power, and using the revenue to fund itself.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#58

Post by heisenbit » Thu, Nov 09, 2023, 4:37 PM UTC

This was a huge investment and now the CFO is gone - makes one wonder how it was financed and what role the increased interest rates played.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#59

Post by yieldcrv » Thu, Nov 09, 2023, 4:37 PM UTC

> Ranji suddenly quit after a bout of yelling and screaming from CEO James Dolan.

seems just like boundary setting to me

thats becoming popular and this is clearly a person that has the privilege of choice, so there is zero reason to put up with that for some shares 4 years from now

corporate loyalty for optics? yeah forget that

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#60

Post by gosub100 » Thu, Nov 09, 2023, 4:41 PM UTC

bsenftner wrote: post #24

gosub100 wrote: post #18

The vegas strip is full of real estate stories where a major undertaking flops initially but gets turned around. The stratosphere was built, sold at a huge loss, and then flipped for an enormous profit (I'm sure there's way more to the story that others are aware of). I wouldn't be surprised if the Sphere ends up the same. I'm really excited to see it, it's very cool thinking about the potential for promoting visual…

Something tells me there is a tax avoidance scheme whereby these investments are intentionally engineered failures that generate the financial manipulators shockingly high paybacks.

I was thinking the opposite: like it's some strange way to pay the "true cost" of the property, by first paying inflation-saddles prices, going bankrupt in the process and leave the first investors holding the bag.