In my opinion, I'd say the shortness and lack of details backs up the story that they had no idea. You'd see way more words if a marketing department had it's hands on something like this. This was 100% a get something out asap job.
Just for once I’d like to see such a statement look like, “You sheep probably want a comment on today’s news. We’re not doing that. We’re just content to buy up all the shares you’re panic-dumping. Looking forward to flipping them back to you next week when you panic in the other direction.”
(Assuming they have some plan that gives them the flexibility to trade shares directly on the market like that. I think $GME had something like this?)
It's hilarious that people are commenting about Microsoft being "down". It's up over a $100 per share since the beginning of the year and at an all-time high.
You still can't justify a claim that nobody panic-sold, given what you know. Let's try to stick to claims we have a basis to believe, instead of fighting noise with noise.
A more reasonable claim from your epistemic state could be something like, "There was no major crash from the news, as might be seen in a general panic."
It began the day up 54.75% YTD and ended the day up 50.6% YTD. They've had single-day downswings as large or larger like 30 times this year alone. Microsoft is fine.
No one is saying they aren't fine, but Microsoft has a lot of shares, and shareholders can be very annoying. If Satya didn't make a statement there'd be dozens of Important People breathing down his neck.
Copying what was posted here in case they update or change it:
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A statement from Microsoft Chairman and CEO Satya Nadella
Nov 17, 2023 | Microsoft Corporate Blogs
As you saw at Microsoft Ignite this week, we’re continuing to rapidly innovate for this era of AI, with over 100 announcements across the full tech stack from AI systems, models, and tools in Azure, to Copilot. Most importantly, we’re committed to delivering all of this to our customers while building for the future. We have a long-term agreement with OpenAI with full access to everything we need to deliver on our innovation agenda and an exciting product roadmap; and remain committed to our partnership, and to Mira and the team. Together, we will continue to deliver the meaningful benefits of this technology to the world.
What would make you think a marketing department would potentially be involved here? Besides the obvious Marketing = Bad connection prevalent here on HN?
I don’t see any verbiage that implies Microsoft had no idea. If Microsoft was the aggressor, of course they would play dumb and disclose as little as possible.
In my opinion, I'd say the shortness and lack of details backs up the story that they had no idea. You'd see way more words if a marketing department had it's hands on something like this. This was 100% a get something out asap job.