Jonah Peretti

So pre-COVID real estate that we still have leases on, debt payments, some of the restructuring costs.

All these things have weighed down our business.

And we've made a lot of progress.

But we still have more work to do on that.

And I think one of the things that you cover in your show is the way entrepreneurs have to continually reinvent their businesses and change what they're doing.

Yeah.

Yeah, so what happened was we disclosed what's called a going concern.

And that is a technical accounting term that means that you have liabilities within the next year that you can't cover with your current cash balance.

A lot of companies have had those.

We had one a couple years ago as well that we resolved.

So our plan and management's plan is to resolve that going concern.

And really going back to founder mode of saying, hey, we got to reinvent the company for this near future and wanting investors to know there's risk to that.

But also now we're getting back to what we love most, which is innovating, creating new things.

We launched this new incubator branch office.

We have new apps.

This is all around AI apps, right?

Yeah, I mean, I think the apps use AI, but I think anytime you're building something new now, there'll be some AI aspect to it.

The main thing isn't that it's AI.

The main thing is that it's starting fresh to build things for the world as it exists today.

One of the apps that is really fun is if you search in the Apple App Store is Conjure Camera.