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IBM stock drops the most since 1987
- mathattack 2mo agoThis shouldn’t surprise anyone who has dealt with IBM over the past 10-20 years. 1 - IBM audits your company’s software usage. 2 - They find a couple servers that someone forgot to turn off a decade ago that nobody uses. 3 - Since it was found in an audit “you’ll lose the 90% discount” and they present the CFO with a $20 million bill. 4 - “It pains us to have to enforce this MSA that your predecessors signed 20 years ago. In the spirit of partnership we can make this go away with a $2 million Watson purchase.” 5 - You get the Watson subscription which you don’t dare turn on. 6 - IBM touts the growth of AI to Wall Street [0] and fires a bunch of old people [1]. Of course this wasn’t going to end well. [0] https://www.constellationr.com/insights/news/ibm-q4-better-expected-watsonx-gains-traction https://www.constellationr.com/insights/news/ibm-q4-better-e... [1] https://www.publicjustice.net/federal-court-boston-ibm-age-discrimination-adea-eeoc/ https://www.publicjustice.net/federal-court-boston-ibm-age-d...
- ChrisArchitect 2mo agoRelated: IBM is on pace for its worst day ever https://news.ycombinator.com/item?id=48907665 https://news.ycombinator.com/item?id=48907665