[HN Gopher] Sketchy financials send Supermicro auditors running ...
___________________________________________________________________
Sketchy financials send Supermicro auditors running for the hills
Author : rntn
Score : 62 points
Date : 2024-10-30 19:07 UTC (3 hours ago)
(HTM) web link (www.theregister.com)
(TXT) w3m dump (www.theregister.com)
| WorkerBee28474 wrote:
| This was also content in today's Money Stuff [0]. Middle section,
| "Super Micro".
|
| [0]
| https://www.bloomberg.com/opinion/articles/2024-10-30/florid...
| or https://archive.is/SGhLe
| Hilift wrote:
| Bloomberg was the source that claimed SuperMicro servers were
| compromised by a grain of rice sized chip that only had two
| conductor leads on it.
| https://www.theregister.com/2021/02/12/supermicro_bloomberg_...
| mikestew wrote:
| ...and most notably, never retracted the story.
| tivert wrote:
| > Bloomberg was the source that claimed SuperMicro servers
| were compromised by a grain of rice sized chip that only had
| two conductor leads on it.
|
| In a similar vein, Bloomberg was the source that Continental
| and United passenger jets were humping mid-air: https://www.r
| eddit.com/r/unitedairlines/comments/13xq64x/thi....
|
| ...
|
| You're talking about this cover, right?
| https://westoahu.hawaii.edu/cyber/vulnerability-
| research/did...
|
| I think you're making the mistake of confusing a cover image
| for a claim. If you have any experience with magazine cover
| images, you shouldn't take them that literally, because
| they're not meant to be.
| StressedDev wrote:
| This is not surprising. Hindenburge Research (a short seller)
| documented SuperMicro's problems in August 2024
| (https://hindenburgresearch.com/smci/).
| gamblor956 wrote:
| On the one had, while I have no reason to disbelieve this
| specific blog post about Super Micro, I know for a fact that
| elements of their other posts about other companies are simply
| wrong, including a number of their claims about Roblox.
|
| That's the risk with relying on short sellers' reports. Very
| frequently, the short seller is lying.
|
| With SuperMicro, the auditor's withdrawal is worth 100x the
| short sellers' report. This is because it is very common for
| short sellers to make up claims about a company's financials,
| but it is very rare for an auditor to voluntarily withdraw.
| rpcope1 wrote:
| What exactly were they wrong about with regards to Roblox?
| monero-xmr wrote:
| I have heard Roblox is way worse than described. So trust
| random internet anons however you want
| lysace wrote:
| I love how Hindenburg Research cleans up the market.
|
| Is there any public data on how much money they have made,
| doing so?
| anonymousiam wrote:
| Less than four months ago there was a lot of hype urging people
| to buy SMCI. Can anybody really trust the financial news outlets
| these days?
|
| https://www.fool.com/investing/2024/07/13/is-super-micro-com...
|
| https://www.forbes.com/sites/investor-hub/article/is-super-m...
|
| https://investorplace.com/2024/03/smci-stock-alert-does-this...
| OrigamiPastrami wrote:
| Why do you think you could ever trust them?
| wongarsu wrote:
| Betteridge's law of headlines strikes again, even if not all
| the reporters intended it that way
| johnklos wrote:
| I'm not surprised about this at all. In spite of having plenty of
| actually decent products and good demand, the company has a
| history of acting shady and caring more about perceived
| appearance than about doing the right thing.
|
| For instance, they appear to care about security issues that
| publicly embarrass them or that affect huge customers of theirs,
| issues that'd've been trivial to fix, instead of fixing issues
| for the sake of fixing them. This kind of "sales" based security
| and their responses have forced me to encourage multiple
| companies to use other vendors.
| tracerbulletx wrote:
| That sounds like the majority of companies to me.
| arminiusreturns wrote:
| Supermicro and Asus are just about the only ones who make the
| motherboards I need in my COTS on-prem/dc stuff. Why don't more
| manufacturers target the server x64 market? It's sorely needed.
| I've built entire systems with SM, but they've long had issues,
| there just aren't many alternatives in the space.
| anonfornoreason wrote:
| I moved to gigabyte for epyc builds, they seem to run a bit
| quicker than super micro on initial launch and product line
| updates.
| matmatmatmat wrote:
| I've wondered this, too. I think the market must just not be
| big enough to support other players?
___________________________________________________________________
(page generated 2024-10-30 23:01 UTC)