Breaking: Michael Burry exposes Oracle's accounting trick they've been using to inflate revenue
Burry claims "Oracle manufactured an extra 19% of revenue" through these steps:
1. A customer prepays Oracle $10B today for cloud capacity to be delivered 3 to 5 years from now
2. Oracle books that as an $11.9B contract liability, accreting interest at 6% over the wait
3. When Oracle finally delivers the capacity, it recognizes the full $11.9B as cloud infrastructure revenue against the original $10B
4. The extra $1.9B becomes revenue for capacity that was never used and work that was never performed
This would be bad news for $ORCL investors if true
I love people who have survived enough to become strange instead of cruel. Give me the person with peculiar rituals. Too many books. A bizarre sense of humor. Three different lives already lived. An oddly specific obsession. A softness they had every excuse to lose. Those are my people.
@terrykhoyt1@YourAnonCentral Thank you for understanding, unfortunately their amongst all of us, just in different shapes and forms. I do hope however that the new partnership between Canada and the EU will encourage other countries like Australia and New Zealand to consider joining up with us.
@terrykhoyt1@YourAnonCentral Trump literally posed as soon as the AfD won the Saxony-Anhalt state and posted a picture with their popular vote (current ATH) in Germany. The AfD is owned by Russia and the USA.. The so the so called "nationalists" chanting a foreign country's name as if their the victors...
@achkhikvadze Fuck Russia for everything it has done to Ukraine. Absolutely horrible, this girl should be living her life, not hiding whilst fearing that's to come next. That's no way to live. Russia must pay for everything it has done!
@OJoelsen I'll have a read Orla. Pro-Publica is on a roll, exceptional journalism I must say, so I'm expecting this article to be good too. I read their article about Don Junior and the financing of their wedding by a Russian oligarch with close ties to Putin.