BRN Discussion Ongoing
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sleepymonk
Regular
hi AG:
IT WOULD BE NICE IF YOU CAN EXPLAIN HOW YOU AGREED TO THE 4.5 MIL SALARY PACKAGE TO SEAN.
supersonic001
Regular
So, i got along to the AGM this morning along with a number of others from this group, Jesse C et al'.........
Overall, not surprised with the messaging from Chairman & CEO on current state of play, where we're at, especially given the plethora of information this TSE cohort constantly dredges and displays here, keeping us all pretty much up to speed with activities....
A few things that i took away:
For me, I have no issues with the status quo given the company still in early phases of development (as repeated by Viana)
Patience, perseverance and time required by our team and all shareholders to ensure the product is carefully managed improved and released during this phase to customer acceptance. As mentioned here before in forum, “steady as she goes” navigating product development for customer benefit and adoption.
If we’re at the start of a new Industrial Revolution that means there will be trail and error with our customers to get to the right balance before it becomes “the Standard” in AI.
I for one feel our team has the knowledge and modesty to navigate this bumpy pathway en route to success without being overt and trumpeting each little win along the way. What we don’t want at all for Brainchip in the future are product recalls (or whatever it might be) in damaging both reputation and potential SP.
Bring on Q1 2025 4C !
A few snippets form todays venue below, and some interactive screens on Tech, nothing new here
Overall, not surprised with the messaging from Chairman & CEO on current state of play, where we're at, especially given the plethora of information this TSE cohort constantly dredges and displays here, keeping us all pretty much up to speed with activities....
A few things that i took away:
- Sean's on a 5 year plan but cannot commit to the details nor the metrics on what that means IRL to either the adoption and volume uptake of Akida, nor resulting revenue or potential or expected SP at that time
- NO update to anyone in the AGM, on revenue expectations in terms of timing or size.... “up to customer how they proceed once evaluated”
- That said, no expectations of a need for capital raise (in theory only I’m sure)
- 3-4 years approx. for customer (Mercedes example) to truly test Akida and make ready for adoption to their respective product(s) for mass production
- 12-18 months time should see a turnaround
- Akida 1000 quite narrow in operability for end user, hence 1500 and now Alida 2.0
- Tape out of 1500 now ready for customer trails in response to 1000 initial use & feedback
- Staffing has incrementally grown but not yet at 100, as anticipated at last years AGM
- Some action and opinion about certain parts of the remuneration and reward proposals, but all approved For by the proxy vote & chairman
For me, I have no issues with the status quo given the company still in early phases of development (as repeated by Viana)
Patience, perseverance and time required by our team and all shareholders to ensure the product is carefully managed improved and released during this phase to customer acceptance. As mentioned here before in forum, “steady as she goes” navigating product development for customer benefit and adoption.
If we’re at the start of a new Industrial Revolution that means there will be trail and error with our customers to get to the right balance before it becomes “the Standard” in AI.
I for one feel our team has the knowledge and modesty to navigate this bumpy pathway en route to success without being overt and trumpeting each little win along the way. What we don’t want at all for Brainchip in the future are product recalls (or whatever it might be) in damaging both reputation and potential SP.
Bring on Q1 2025 4C !
A few snippets form todays venue below, and some interactive screens on Tech, nothing new here
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FabricatedLunacy
Regular
Yeah… everytime i talk this up. It get shafted…
I want this to work. I believe it will work out. I can’t pull out as I don’t want to carry the loss. And yes I did factor this into my planning.
Also major companies we have links to and that use our name surely can’t be wrong and ALL fail their due diligence.
Anyways we wait.
I want this to work. I believe it will work out. I can’t pull out as I don’t want to carry the loss. And yes I did factor this into my planning.
Also major companies we have links to and that use our name surely can’t be wrong and ALL fail their due diligence.
Anyways we wait.
Therealcookiemonster
Member
I’m probably repeating some of what has already been said but wanted to add my 2 cents. I don't really understand why people are saying things like "disappointed" and "lost faith" etc.. after attending or listening to today's AGM.
I was present at the same AGM these people were at and I thought the team, including Sean, handled the questions posed by a hostile crowd really well. I’m not saying that the radio silence specifically in regards to ASX announcement makes me happy, but I definitely understand the company’s predicament.
The reality is that the success of Brainchip is not going to happen overnight. Antonio gave us some really important insight into the sales cycle and why they choose not to make ASX announcements. Running us through the sales cycle, he said it can take 1-3 years of collaboration and engagement with a client before Akida can completely function within the client’s product/ecosystem. From there, those products may take another few years before they enter the market and Brainchip can make some $$. If my maths is correct, that’s around 5 years.
He also stated that the team always consider whether they should make an announcement about their engagements, and then explained that they can’t really do that until they have a guarantee that revenue will flow.
They only started commercialising this technology about a year or so ago. Sean’s only been in the role for 1 year. Give the guy a chance to make some changes and see his strategy through. We can’t expect a 5 year plan to be carried out in 1 year….
I run a business in the computer vision space and we are seeing a very similar if not parallel sales trajectory, especially given this economic climate. Our clients work with us for 1-3 years before they feel comfortable to scale the technology. I literally had a client the other day say they loved the solution we offer but were delaying scaling because of some overseas economic events impacting their budget (I can’t disclose things either
), and I’m sure BRN are experiencing the same challenges.
As an owner/investor of Brainchip I believe fellow investors need to adjust their timelines. We have an amazing, unprecedented product and a good team that over the last year, was re-aligned to better achieve commercial outcomes. I’m doing my best to be patient, which I admit, is not easy
.
I was present at the same AGM these people were at and I thought the team, including Sean, handled the questions posed by a hostile crowd really well. I’m not saying that the radio silence specifically in regards to ASX announcement makes me happy, but I definitely understand the company’s predicament.
The reality is that the success of Brainchip is not going to happen overnight. Antonio gave us some really important insight into the sales cycle and why they choose not to make ASX announcements. Running us through the sales cycle, he said it can take 1-3 years of collaboration and engagement with a client before Akida can completely function within the client’s product/ecosystem. From there, those products may take another few years before they enter the market and Brainchip can make some $$. If my maths is correct, that’s around 5 years.
He also stated that the team always consider whether they should make an announcement about their engagements, and then explained that they can’t really do that until they have a guarantee that revenue will flow.
They only started commercialising this technology about a year or so ago. Sean’s only been in the role for 1 year. Give the guy a chance to make some changes and see his strategy through. We can’t expect a 5 year plan to be carried out in 1 year….
I run a business in the computer vision space and we are seeing a very similar if not parallel sales trajectory, especially given this economic climate. Our clients work with us for 1-3 years before they feel comfortable to scale the technology. I literally had a client the other day say they loved the solution we offer but were delaying scaling because of some overseas economic events impacting their budget (I can’t disclose things either
), and I’m sure BRN are experiencing the same challenges.As an owner/investor of Brainchip I believe fellow investors need to adjust their timelines. We have an amazing, unprecedented product and a good team that over the last year, was re-aligned to better achieve commercial outcomes. I’m doing my best to be patient, which I admit, is not easy
.
supersonic001
Regular
Teksun Inc on LinkedIn: Catch Teksun and BrainChip live at Embedded Vision Summit: Demonstrating…
Unleash AI innovation at Embedded Vision Summit! Join Teksun and BrainChip live as we showcase cutting-edge computer vision and AI
DerAktienDude
Regular
After all that’s being said today it’s obvious that 2025 is the new 2022
D
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supersonic001
Regular
AWS AI on LinkedIn: #machinelearning #generativeai | 12 comments
Reinforcement learning with human feedback could be the best way to evaluate generative models full stop. Join our Twitch session 🖥️ to check it out live… | 12 comments on LinkedIn
Dr E Brown
Regular
Agree wholeheartedly. I thought Antonio did a great education piece. I thought he was incredibly clear in his message and to be fair to Sean, I thought he was as well, outside of his prepared remarks. I appreciate their professionalism and determination not to even mention Mercedes or Renesas by name, lest it be misrepresented.I’m probably repeating some of what has already been said but wanted to add my 2 cents. I don't really understand why people are saying things like "disappointed" and "lost faith" etc.. after attending or listening to today's AGM.
I was present at the same AGM these people were at and I thought the team, including Sean, handled the questions posed by a hostile crowd really well. I’m not saying that the radio silence specifically in regards to ASX announcement makes me happy, but I definitely understand the company’s predicament.
The reality is that the success of Brainchip is not going to happen overnight. Antonio gave us some really important insight into the sales cycle and why they choose not to make ASX announcements. Running us through the sales cycle, he said it can take 1-3 years of collaboration and engagement with a client before Akida can completely function within the client’s product/ecosystem. From there, those products may take another few years before they enter the market and Brainchip can make some $$. If my maths is correct, that’s around 5 years.
He also stated that the team always consider whether they should make an announcement about their engagements, and then explained that they can’t really do that until they have a guarantee that revenue will flow.
They only started commercialising this technology about a year or so ago. Sean’s only been in the role for 1 year. Give the guy a chance to make some changes and see his strategy through. We can’t expect a 5 year plan to be carried out in 1 year….
I run a business in the computer vision space and we are seeing a very similar if not parallel sales trajectory, especially given this economic climate. Our clients work with us for 1-3 years before they feel comfortable to scale the technology. I literally had a client the other day say they loved the solution we offer but were delaying scaling because of some overseas economic events impacting their budget (I can’t disclose things either
As an owner/investor of Brainchip I believe fellow investors need to adjust their timelines. We have an amazing, unprecedented product and a good team that over the last year, was re-aligned to better achieve commercial outcomes. I’m doing my best to be patient, which I admit, is not easy
I have some real excitement around the Renesas, Megachips and Teksun links.
Sometimes it is hard to remember that we are at the forefront and start of the next revolution, as many of us have been around for quite some time.
The noise around neuromorphic is getting louder and more persistent.
The message to us was clear we are on the right path it will just take time.
PS. I wish I had Akida for that Delorean and not had to find 1.21 Gigawatts of power to run the bloody time machine!!
Dhm
Regular
The AGM was a rollercoaster ride.
Antonio was brilliant. A master of delivery. He was articulate, believable and compelling. He knew his stuff.
Sean, at first glance was disinterested or just unprepared (seemingly) He spoke by reading and struggling to keep his monologue flowing. This was the complete opposite to his 2022 AGM this time last year. I won't comment on the hog feast at the trough other than to say much of it is partially dependant on metrics being achieved.
I had a chat with Antonio afterwards and did my best to get across the incredibly frustrating lack of announcements over the last 12 months. I went on (a bit too much in retrospect) that the company could well use many more announcements that are non price sensitive. I suggested for example that an announcement that ARM are releasing their Cortex M85 chip that Akida may be added in a number of situations like blah...blah. That would be a painless non price sensitive statement that would be distributed to a much broader set of market participants.
I also had a brief chat with PVDM. What a gentleman. Also had the privilage of a good chat with Duy-Loan Le. She is so engaging, interested in what my wife and I had to say.
I caught up with some of the TSE crew and it was fun to say g'day to them all.
To sum up, a hard day, but a day that demonstrated that we are a real company with real disruptive tech that is not an easy sell. Not because of it's 'science fiction' status but clients and potential clients have current tech that is being distributed now and seemingly keeping consumers happy. To change the delivery environment takes time, persuasion and forward thinking and understanding just what is being offered to potential clients. A hard task, but I sincerely believe the current team is the A team.
Antonio was brilliant. A master of delivery. He was articulate, believable and compelling. He knew his stuff.
Sean, at first glance was disinterested or just unprepared (seemingly) He spoke by reading and struggling to keep his monologue flowing. This was the complete opposite to his 2022 AGM this time last year. I won't comment on the hog feast at the trough other than to say much of it is partially dependant on metrics being achieved.
I had a chat with Antonio afterwards and did my best to get across the incredibly frustrating lack of announcements over the last 12 months. I went on (a bit too much in retrospect) that the company could well use many more announcements that are non price sensitive. I suggested for example that an announcement that ARM are releasing their Cortex M85 chip that Akida may be added in a number of situations like blah...blah. That would be a painless non price sensitive statement that would be distributed to a much broader set of market participants.
I also had a brief chat with PVDM. What a gentleman. Also had the privilage of a good chat with Duy-Loan Le. She is so engaging, interested in what my wife and I had to say.
I caught up with some of the TSE crew and it was fun to say g'day to them all.
To sum up, a hard day, but a day that demonstrated that we are a real company with real disruptive tech that is not an easy sell. Not because of it's 'science fiction' status but clients and potential clients have current tech that is being distributed now and seemingly keeping consumers happy. To change the delivery environment takes time, persuasion and forward thinking and understanding just what is being offered to potential clients. A hard task, but I sincerely believe the current team is the A team.
Does the Delorian only go in reverse?
Schnitzel lover
Regular
Napoleon Hill said after 25 years of researching the most successful people on the planet, the only discernible difference was “perseverance”.
That in itself should be enough to sweep away concerns about the smaller observations made about management here.. So one shareholder holding out hope that the eyes are evidently on the prize by management and with continued perseverance, they will get there..
That in itself should be enough to sweep away concerns about the smaller observations made about management here.. So one shareholder holding out hope that the eyes are evidently on the prize by management and with continued perseverance, they will get there..
jtardif999
Regular
Agree, as a prime example, treasurer Chalmers read the budget verbatim. Anyone who is conveying sensitive information has an obligation to convey in this manner.
Stable Genius
Regular
I could be wrong but I think he had to read from the document so he doesn’t stray from the script as that is the same as the ASX AGM document; CEO’s address.
I would like him to be more charismatic and a better public speaker however that is one job on one day a year. It’s the other 364 days I’m concerned with. Maybe he’s excellent in small groups building a rapport with customers rather than public speaking; I know I don’t enjoy it. He was hired with a lengthy sales experience history of building ecosystems and a plan approved by the board so suggesting he has some skills.
Problems were identified and solutions given. It’s better than pretending everything’s rosy.
I thought the remuneration was explained quite well. The packages were set for a 3 year period based on KPI’s including the SP. The amounts were the total they could get if they achieved %150 over their targets. They get less if they achieve less. Sounds fair to me.
Ken and Antonio were up front about the Manny situation. Antonio agreed it was too generous and has fixed the system to reflect the market and company size; but that was historical. However if we want good people in a competitive market we have to pay them; no arguement from me. Ken was honest stating this was a quick, clean, friendly way to avoid litigation. Essentially, you can look backwards, pointing the finger with he said, she said or forwards and remove the distraction to focus on commercialisation. Only guessing here but if Manny argued that if he had his shares when the price was $2+ they would have been worth a lot more which is what I think Ken wanted to say but couldn’t. However the mistake happened it’s now dealt with but if Manny didn’t have a case to answer then I’m sure it wouldn’t have been as generous an offer. I don’t know anyone who has never made a mistake before; glad we’ve moved on from it.
Renesas is still putting out a chip with us. MB still building cars. NASA making rockets. GF making AKD1500. TEKSUN doing presentations with our products. ARM, INTEL, SiFive still making systems. Gen 2 being made for better commercialisation success. Gen 3 in the pipeline.
Potentially a longer wait but it is what it is!
I think that one thing that will drive use of Akida is business competition, like the ARM v SiFive head-to-head.The AGM was a rollercoaster ride.
Antonio was brilliant. A master of delivery. He was articulate, believable and compelling. He knew his stuff.
Sean, at first glance was disinterested or just unprepared (seemingly) He spoke by reading and struggling to keep his monologue flowing. This was the complete opposite to his 2022 AGM this time last year. I won't comment on the hog feast at the trough other than to say much of it is partially dependant on metrics being achieved.
I had a chat with Antonio afterwards and did my best to get across the incredibly frustrating lack of announcements over the last 12 months. I went on (a bit too much in retrospect) that the company could well use many more announcements that are non price sensitive. I suggested for example that an announcement that ARM are releasing their Cortex M85 chip that Akida may be added in a number of situations like blah...blah. That would be a painless non price sensitive statement that would be distributed to a much broader set of market participants.
I also had a brief chat with PVDM. What a gentleman. Also had the privilage of a good chat with Duy-Loan Le. She is so engaging, interested in what my wife and I had to say.
I caught up with some of the TSE crew and it was fun to say g'day to them all.
To sum up, a hard day, but a day that demonstrated that we are a real company with real disruptive tech that is not an easy sell. Not because of it's 'science fiction' status but clients and potential clients have current tech that is being distributed now and seemingly keeping consumers happy. To change the delivery environment takes time, persuasion and forward thinking and understanding just what is being offered to potential clients. A hard task, but I sincerely believe the current team is the A team.
To get a toe in the door of mobile phones, we may need to hang on to someone else's coat tails, but our power saving is also a big plus here.
On top of that there is the move to EVs which puts a premium on power conservation.
... and then, there's defence which is insulated from downturns ...
Fastback6666
Regular
I am a glass half full character and appreciated the honesty today from management as it allows everyone to be able to make more informed decisions around their investment now.
Now for a little glass half empty…
The hard thing for me now is …I am really not sure how long I need to be invested in Brainchip to achieve a personal wealth goal. It was always going to be a guess but by the sounds of things 12 months ago I did think my goal may occur by around 2024/2025 based on royalty ramp up from Akida 1.0. Now I really do have no idea when things will ramp up to that level as Akida 1.0 is now not going to be mass adopted in commercial products in the very near future. Mass - I mean millions of instances. I usually know that the first cut of a product (Akida 1.0) was not going to be the magic pill….however the management sort of made us feel like it was going to be the magic pill and everyone wanted it and decent revenue was coming.
I know management have a 5 year plan but it is unquantifiable in regards to knowing when and how much revenue will flow and from which product. This continues to be a problem.
After the 5 year plan executes (4 years from now) are we then at a stage where that is just the start of the real mass commercial products containing Akida 2.0 and our real mass royalties flow? That is 2027 - larger revenue then starting to build into 2028/29. Ooof that is quite a commitment and where does the SP swing to in the interim .20c to .50c range until then? Ooof.
We don’t know who is developing what, when it will be ready and what royalty it pays. There is some taping out being done by some partners for sure but we don’t know that scale or detail of that and also it’s Akida 1.0 the company is saying it’s a narrow market…ie. Smaller revenue.
I have never been interested in singular IP licenses sales for BRN as that is small fry to me in the grand scheme of things and that will not be the bulk revenue needed for this company nor sustain the share price over 20 cents realistically. Mass Royalties is where we need to be at to move the SP, or the ability to quantify it.
I do have a pretty decent annoyance that when the price was over $1+ 12 months ago, the company had made comments that the sales inquiries were basically insatiable and the CEO in turn indicated revenue would be starting to move up late last year. He had also made a comment last year such as - He saw the current market cap (when around 2 to 3 Billion) to be low and saw the company being worth much much more than that with the recent interest. That is not word for word but that is pretty close to the thought of the comment. At that point I was thinking wow and was happy to not sell any shares at $1+ on the hyped up Mercedes news even though I could see BRN was overvalued at $1.30+ due to no revenue at that point …but why would I sell if revenue was that close and CEO indicating market cap was very low compared to where it should be as he as the CEO can see what was happening internally. That right there was very misleading and had hoped that the management would not make insinuations like that when they were not really not reality. Lesson learned on both sides of the fence there I would say.
Ok glass half empty done…looking back at the glass half full again and still holding for now…even though todays reality check was quite painful.
Now for a little glass half empty…
The hard thing for me now is …I am really not sure how long I need to be invested in Brainchip to achieve a personal wealth goal. It was always going to be a guess but by the sounds of things 12 months ago I did think my goal may occur by around 2024/2025 based on royalty ramp up from Akida 1.0. Now I really do have no idea when things will ramp up to that level as Akida 1.0 is now not going to be mass adopted in commercial products in the very near future. Mass - I mean millions of instances. I usually know that the first cut of a product (Akida 1.0) was not going to be the magic pill….however the management sort of made us feel like it was going to be the magic pill and everyone wanted it and decent revenue was coming.
I know management have a 5 year plan but it is unquantifiable in regards to knowing when and how much revenue will flow and from which product. This continues to be a problem.
After the 5 year plan executes (4 years from now) are we then at a stage where that is just the start of the real mass commercial products containing Akida 2.0 and our real mass royalties flow? That is 2027 - larger revenue then starting to build into 2028/29. Ooof that is quite a commitment and where does the SP swing to in the interim .20c to .50c range until then? Ooof.
We don’t know who is developing what, when it will be ready and what royalty it pays. There is some taping out being done by some partners for sure but we don’t know that scale or detail of that and also it’s Akida 1.0 the company is saying it’s a narrow market…ie. Smaller revenue.
I have never been interested in singular IP licenses sales for BRN as that is small fry to me in the grand scheme of things and that will not be the bulk revenue needed for this company nor sustain the share price over 20 cents realistically. Mass Royalties is where we need to be at to move the SP, or the ability to quantify it.
I do have a pretty decent annoyance that when the price was over $1+ 12 months ago, the company had made comments that the sales inquiries were basically insatiable and the CEO in turn indicated revenue would be starting to move up late last year. He had also made a comment last year such as - He saw the current market cap (when around 2 to 3 Billion) to be low and saw the company being worth much much more than that with the recent interest. That is not word for word but that is pretty close to the thought of the comment. At that point I was thinking wow and was happy to not sell any shares at $1+ on the hyped up Mercedes news even though I could see BRN was overvalued at $1.30+ due to no revenue at that point …but why would I sell if revenue was that close and CEO indicating market cap was very low compared to where it should be as he as the CEO can see what was happening internally. That right there was very misleading and had hoped that the management would not make insinuations like that when they were not really not reality. Lesson learned on both sides of the fence there I would say.
Ok glass half empty done…looking back at the glass half full again and still holding for now…even though todays reality check was quite painful.
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