Dr. Mohammad Asad Ilyas
1.5K posts
@leocibean
#Changeagent | #Digitaltransformation | #SerialEntrepreneur | #Startups | #FinancialInclusion | #Geeninitiatives | #Travel | #DOYR | #notfinancialadvise
$OPEN >>> $BETR Begging for distribution deals on Twitter, might be time for a leadership change,
$OPEN growing market share based on US existing home sales from FRED as a proxy
$24 billion in tokenized assets on-chain. A year ago it was half that. Every asset class from treasuries to equities is moving onto blockchain infrastructure. The foundations being built right now will matter when this number hits the trillions. x.com/i/trending/204…
$BETR There is little the market hates more than a company diluting its shareholders mid rally The market also does not forget this sort of behaviour and future rallies are often treated with suspicion This has happened with $SOFI and is largely why it’s been held back imo
Thanks. I wasn't going to bring it up BUT since you did. This article regarding Sarah Pierce might help your understanding regarding her work at Better. I helped her in every way. But she went astray post COVID and moving to Aspen during the pandemic. nypost.com/2022/07/08/bet… How did this end - we won a judgement against her for $2mm (public record). And she dropped the lawsuit and went away. Can't say more but these things are public record. And the SEC investigated us for 18 months based on the trash she spewed to them ---- and dropped the entire thing with ZERO findings whatsoever. During the Biden SEC era. ZERO findings whatsoever. ZERO. We did a demo of Tinman for them. And how much money it saves consumers. And how algorithmic matching works in our investor marketplace. And you know what they did - within a week, they dropped it all. As for financial forecasts, yes we totally missed them all. Did not think rates would go up 500bps. Didn't think the inflation was real - all government spending that went to people who promptly bought crap they couldn't afford or shouldn't buy. Still happening with BNPL , buy now pay never, but thats a different issue. Thought that when rates went up cash out refi would make up for the declines in rate term which is what happened during 2003-2008 era in prime mortgage land. Was wrong. Backstopped a $750 mm investment from Softbank and an additional $530mm from Softbank by PERSONALLY GAURANTEEING it all. Still hope to make Masa his money back and more. Guess how much stock Softbank has sold this entire time. ZERO. Yes, I got a whole bunch of things wrong. But now I am making it right. Who are you Mr. Anonymous? Why hide?
My goal is to create a cash offer marketplace, giving folks like @opendoor, @offerpad and all the other cash offer companies a chance to see over 100 million customers and give them the best price. Our job is to advocate for our consumers and we’re going to create a marketplace for people are going to bid for their business. Then everybody wins. Our customers get the highest price their company gets the lowest Caq. We also think that both companies have very unique attributes and different characteristics that can complement our home services business and our finance products and service business. We historically looked at investing in both of them and think they’re both very investable, but it was better for us to remain independent and stand with our customers while creating partnerships with good companies.
Strategy has 4 preferreds. Only 1 converts to $MSTR. Most people don’t know the difference. $STRK. The only convertible. Direct BTC upside through conversion. STRC, STRF, STRD pay income. No conversion. But they’re not BTC-blind like most people think; as Strategy’s credit improves, yields compress and prices will rise. If you bought them thinking they’d move like $BTC … they won’t. But they’re not dead money either. Know what you own.
Sorry today was tough. Those of you still in this and those of you who just joined, please know tomorrow morning $betr is in BEAST mode. That is the promise I made to our board, to our shareholders, to our amazing product and engineering teams who are true believers and large shareholders, to our teams who crank helping customers 24/7 and own stock, to our retail teams at NEO who have taught me so much in the past year and who own stock, and to myself. Best way to tell in coming months: - all our numbers will get better. Conversion, labor cost per funded loan, NPS on path to profitability. NEO is going to crush it, CK Home Loans powered by Better is going to crush it and break new ground, Coinbase + Better is going to crush it and change the meaning of a downpayment for all home loans everywhere, and OpenAI + Tinman are going to crush it and cause a seismic change in banks ability to originate mortgages and loan officers ability to make more money off their labor. Here’s what else you will see, just to be candid: - senior industry execs at BETR will need to get their hands dirty in the age of AI. Many will not be able to and will be transitioned back to the rest of the industry. You will see this in our employee numbers and on linkedin (which I know some of you follow) - cost cuts will start to hit B+/A- who thought they were safe and cushy because their A/senior managers protected them. No more. - anonymous complaints to hr/ on blind / Glassdoor increase as snowflakes (dialing it in as per above) complain about demanding environment, pressure, bullying, and toxicity. It’s called working hard people. As yoda said, “do or do not. There is no try”. This isn’t college. - workers mandated to be in office 5 days a week whose managers were letting them slide get demoted/clipped for violating the RTO mandate. All these things will happen. I want you all to know this so you can be prepared for the ups of BEAST mode (numbers get better) and downs of BEAST mode (columbia journalism majors fresh off a pro-hamas rally write clickbait hit pieces on us on some irrelevant blog or failing business publication) But we laid out in public this morning what we are going to do. And we are going to do it. Thank you all for believing in our mission to bring the American Dream back and make it better. $betr
Thanks @danielsethlewis for the note on $betr. We had the chance to fully fund the business with high quality investors (as 13f filings will show soon enough) and we took the short term pain on the print with the stock up 50% in 3 days on very little volume vs issuing in the ATM. -The ATM is terminated. -We pre-released volumes well above expectations for Q1 at $1.64 billion, up 89% YOY - We are fully funded and will use this capital to squeeze further on growth and costs - Ideally we would have priced this at $40 or higher. The $8x2mm shares is $16mm we potentially left on the table. Instead I firmly believe we will be able to generate more than $16mm in savings and revenue alone from doing this deal than doing piece meal in the ATM. And that has a much better business impact and multiple. - We didn’t sell stock to anyone who was short and got confirmation of that prior to allocating. So if a retail investor is selling today on emotion then they are the ones helping the shorts cover. - As the largest shareholder I personally care the most about dilution. I was pretty torn about printing the ticket at this price. But I will take the short term pain and the people upset at me short term anyday so I set up the company to fully achieve what is now well within our grasp - to be by far the largest mortgage platform in America and to help millions of American families save money and time on their home finance. $betr
Not great news about $BETR this morning. Sold 60% at 30% profit and will buy more if it goes below $30 again.
@leocibean True. Not in the world w losers.
@Geiger_Capital Not accurate.
@zoo_bear @writergirl_11 Everyone PM has a PR department bro. Grow up
