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Las Vegas Sphere reports $98.4M loss; CFO quits

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

#101

Post by jstarfish »

yieldcrv wrote: post #75
logicalmonster wrote: post #66

I despise giving an endorsement to anything Dolan is associated with and can profit from as he is an awful and genuinely petty human, but the Sphere is a technology worth seeing. I wasn't super impressed with the sphere's screen when I went in there with the thing turned off and saw the very steep stairs to the seats. It initially looked like a bigger movie screen. But once it's on, with the right shot, it completely…

I personally don’t understand how to have a phantom like vendetta because of a person’s behavior, following them around with negativity their whole career. Like, they made something awesome and need to monetize it. Focus on the awesome thing. The entity is going to pay those involved and they might sell shares for a higher price, thats how our system works. Suddenly caring only because you dont like 1 of those stakeh…

Companies already are cancel-proof, unless they're dumb enough to alienate their biggest customers. Then they cancel themselves.

The "toxic personality" stuff really does need to die though. Elon Musk is not invited to my birthday party, but I can respect what his companies have done. These parasocial vendettas are on par with cult disfellowshipping behavior. Unless the product is an asshole too, who gives a shit?

Linus, the asshole, brought Linux to fruition. Gentle parenting and oversensitivity only brings us more assholes.

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

#102

Post by miohtama »

> Ranji’s exit was “not a result of any disagreement with the company’s independent auditors or any member of management on any matter of accounting principles or practices, financial statement disclosure or internal controls,” the company said in the filing.

Should one be worried if this needs to be highlighted in the statement?

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

#103

Post by tootie »

mmanfrin wrote: post #28

It was open for 2 days of the fiscal quarter. The CFO quit after being yelled at by the notoriously combative CEO. The news has been running with this headline because it's drawing clicks but it's not really painting an accurate picture.

It's entirely possible these are related. It's not a stretch to think he was yelling because there was a $100M loss.

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

#104

Post by kodt »

derefr wrote: post #64
t3rabytes wrote: post #3

I gotta be honest, I'm not sure what was expected? They spent $2b building this thing, it's brand new tech, it didn't host many shows last quarter (it was open for 1? full month of the quarter). I still think The Sphere is super damn cool and I can't wait to go to an event there.

It hosts shows? And here I had assumed it was just a big weirdly-shaped billboard, and that their business model was "selling ads on it."

You can go inside it, it is a large concert venue with a 360 screen/light show basically.

U2 played there, but I heard retail on the tickets was nearly $500.

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

#105

Post by jjkeddo199 »

gadders wrote: post #98
t3rabytes wrote: post #3

I gotta be honest, I'm not sure what was expected? They spent $2b building this thing, it's brand new tech, it didn't host many shows last quarter (it was open for 1? full month of the quarter). I still think The Sphere is super damn cool and I can't wait to go to an event there.

This seems to be a pattern for expensive infra projects: - Original company builds expensive piece of infrastructure - Original company fails to make money on expensive piece of infrastructure - Original company goes bust - New company buys infrastructure cheap - New company manages to run a profitable business See Eurotunnel, Iridium, probably others I've forgotten.

It goes further back than this -- What do you think happened to the "joint stock companies" that funded English settlers going to the Americas? ;)

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

#106

Post by sgt »

erulabs wrote: post #70
mmanfrin wrote: post #28

It was open for 2 days of the fiscal quarter. The CFO quit after being yelled at by the notoriously combative CEO. The news has been running with this headline because it's drawing clicks but it's not really painting an accurate picture.

Isn’t “not screaming your executive into quitting” kind of a leaders main job?

Many feel the opposite. How can you ensure people are working, unless they truly fear you? Make a mistake and you are in deep, deep trouble, buddy. Straight to the pit!

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

#107

Post by sfitz »

s3p wrote: post #90
cflewis wrote: post #89

Earlier quoted context omitted.

It's the Strip, I'd assume you were pretty buzzed before you rolled up. That's probably part of the math here.

That doesn't make any sense. If you were already buzzed before going, then you would need a cheaper price to continue drinking, since you already have some in you. If you were dead sober and wanted to drink, then it makes sense to shell out the money.

If you were already buzzed before going, you're probably not making super sound financial decisions inside.

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

#108

Post by raverbashing »

gadders wrote: post #98
t3rabytes wrote: post #3

I gotta be honest, I'm not sure what was expected? They spent $2b building this thing, it's brand new tech, it didn't host many shows last quarter (it was open for 1? full month of the quarter). I still think The Sphere is super damn cool and I can't wait to go to an event there.

This seems to be a pattern for expensive infra projects: - Original company builds expensive piece of infrastructure - Original company fails to make money on expensive piece of infrastructure - Original company goes bust - New company buys infrastructure cheap - New company manages to run a profitable business See Eurotunnel, Iridium, probably others I've forgotten.

It's almost like MBAs teach C-level "executives" to have a goldfish time range understanding of profits

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

#109

Post by function_seven »

djaychela wrote: post #94
bluedevil2k wrote: post #88

Earlier quoted context omitted.

> I don't remember it being pricy You clearly haven’t been there in the last few years. $16 for a beer is the norm at clubs and bars if you’re not gambling.

No, it was a long time ago (late 90s?). The hotel was cheap (Excalibur!), and other than seeing the Blue Man Group, everything else was very cheap. All you can eat breakfast was $10 and I ate so much I didn't eat again for 24 hours.

Oh yeah those days are long gone. At least on the strip.

Back then you could find $5 blackjack tables, and $3.99 buffets. Now a typical buffet on the strip will be $80 a person or something like that. The cheap blackjack tables are $25 a hand.

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

#110

Post by tootie »

t3rabytes wrote: post #3

I gotta be honest, I'm not sure what was expected? They spent $2b building this thing, it's brand new tech, it didn't host many shows last quarter (it was open for 1? full month of the quarter). I still think The Sphere is super damn cool and I can't wait to go to an event there.

I can imagine a ton of logistical constraints. They have U2 doing a residence, and I'd guess that residences are going to be the only options. Designing visuals on such a unique and complex display to match a specific artist is at least a few person-months of effort. You have to plan shows very far in advance and spend a lot of money on show production. This likely excludes anyone but the top-tier performers. And the exterior is basically just a giant ad. It's not a revenue-generator since you don't need tickets to see it.
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