PETER THIEL: But, then the intellectually honest thing to do would be to say that Google is no longer a technology company, that it's basically -- it's a search engine. The search technology was developed a decade ago. It's a bet that there will be no one else who will come up with a better search technology. So, you invest in Google, because you're betting against technological innovation in search. And it's like a bank that generates enormous cash flows every year, but you can't issue a dividend, because the day you take that $30 billion and send it back to people you're admitting that you're no longer a technology company. That's why Microsoft can't return its money. That's why all these companies are building up hordes of cash, because they don't know what to do with it, but they don't want to admit they're no longer tech companies.
I find that quote very interesting. Peter Thiel, a self-made billionaire made the bulk of his coin by investing in emerging tech companies. Emerging tech is fun. The potential is exciting and the ability to get in early and enjoy a pretty nice ride is there. Not a guarantee by any stretch of the imagination, but anyone that understands their own risk vs reward thresholds and believes the company executives who’ve not only stated at AGM’s and in official NR’s what their plan is and what will happen ahead but have also gone to the trouble of posting the entire session online so that any and every SHAREHOLDER can check and determine whether or not they are heading in the direction they stated they would.
For the record I have no interest in discussing the past. I am personally invested in INT and have chosen to buy more and have been over the last few weeks. Not a pump. A fact.
I don’t believe Ortsbo is the next Google for several reasons. One Ortsbo is not in the search engine business. Two Ortsbo is not in the load up your video and let folks watch it for free business. Google Translate is out there and makes sense that there would be a rough translation of the pages their search engine locates, but IMO it’s not a competitor to any serious INT investor.
I’d be surprised if Google will start focusing in on micro-domains and will start launching new products using Twitter and other Social Media sites to really create a global buzz- creating a lexicon that vastly improves upon its current translations. To my knowledge they have not focused in on customer care centers, are not located in any Sports or Entertainment centers. One could argue that the Ecommerce business they could challenge Ortsbo, but again they would need to develop the micro-domains to make it clear as online shopping is precarious enough and anything unclear would discourage the consumer from “checking out”. I don’t know that I can switch across multiple channels using Google translate, which in the dawn of social media puts it at a slight disadvantage in the translation space. Google is a monster but not in all aspects. Its attempt to rival Facebook failed. I even think as a search engine its now 3rd. Still Youtube is a beast and always will be. I also am - at time of writing - unaware of Google’s cc patent’s or its relationship with voice to voice service.
Google is connected to Ortsbo, in that its chair Eric Schmidt invested in the Raine Group, which coincidentally oversaw the Barlcays Deal - where the Ortsbo media room is. Not much of a “competitive” feel to that one. By association Schmidt is also connected to theAudience by way of the Raine Group (WME’s financial muscle)- again doesn’t really feel like 2 competitors as one would assume if Orstbo and Google were offering the exact same product - that is - that they were competing in the same space that Google Translate would push this little group aside. But that did not happen.
Why did that not happen? If these are competitors?
I hear a lot of people claim that INT should not try because Google or Apple or others have already done it. Google and Apple are great stocks and I would never claim that INT will topple them. But this is an emerging tech company and to claim that innovators shouldn’t bother because its already been done is not understand the very market you are discussing. This play is about betting on innovation. That there is room in the space for this innovation. To argue it’s dumb to invest until everything has been proven up is hilarious. Also we could discuss the upside of Google and Apple SP’s and INT’s. Funny thing is both of those companies were innovators whom everyone said would fail - until they became the leaders in their space.
If that’s your frame of reference then take it to the TSX, NYSE, and NASDAQ where it makes sense.
This is an emerging tech play - complete with all the stress and thrills that go with it.
INT has closed its PP, its directors have told us what to expect. If you don’t like that don’t invest. If you believe they are not lying to you then buckle up.