 So Citron Research, a company that basically is a short-sell activist, I believe is how they title themselves. He reports specifically on and investigates fraud in the stock trading and publicly traded companies. And there's some links. I'm going to go ahead and leave below who is Citron Research. You can read about them on Wikipedia. Mr. Andrew Left. But what brings me even to talk about this is Citron exposes ubiquity networks. They didn't want Citron exposing their fraud, so guess what they're going to do? Expose another fraud. A little bit of a salacious title. The guy is kind of passionate about it. He thinks that ubiquity is a giant fraudulent company and they're like some of these other companies that he's reported on where they're plugging the numbers and manipulating stocks and doing all this stuff. But here's where I call a little bit of shenanigans on this. Now, he does talk about them having a better margin than some of the other companies that are in their market like, let's say, Cisco. And it's their key metrics. Then he talks about red flags. I know I don't like buzzwords myself. We've all heard of a disruptive biz model, a shady distributors, and we have a different this and different that. I see all the things in there and he's got some quotes pulled out by Pearson's. And Mr. Pearson came to Valing's business model was not fully understood by all investors, but he had nothing to be ashamed of. And he's trying to point that the CEO of ubiquity seemed to admire someone as a CEO of someone else who was frauding. Those are kind of reaches and things like that. Silicon Valley and that whole world is a little bit of a bubble. And we poke fun of them at the show that came out called Silicon Valley. But back to the topic here. So he tries to make a case that ubiquity is just a giant fraudulent company. They were talking about ubiquity sales to this location, that location, this one's in Poland. They're a distributed company and that means they're not exactly one big central company like you think of Cisco, where you have one large office building and things like that. So ubiquity choose not to disclose any profit or EBIT margins by region, however, applying this phrase. And if you're not familiar with that, that is basically they're not breaking down. They break down the company as a whole, but not individually as each region they're operating in. But like I said, I'll leave the link to the report so you guys can read all that. But this is where this guy really loses me. And this is also why I'm doing this. So I don't have anything against the guy, but I'm not clear the whole thing with ubiquity because they sell a tangible physical product that we've installed an absolute ton of. And we like them. Their products work. That's why we're pretty passionate about them. So this is the part where he does lose me a lot. This community, as we see, this community is described as highly engaged and loyal evangelist. Yes, evangelist. So we're supposed to believe that ubiquity, people that buy routers, people that buy access points are so obsessed with them. Not like, I understand if someone buys a Tesla and tells everyone, oh my God. Loyal evangelist. Let's just say, if there's something tech people absolutely are, is we're loyal evangelists about the technology we love. So for him using that ubiquities, having an engaged community is a bragging point for their system that's a bad thing. I'm like, what are you nuts? This is exactly what all tech people are. We are really crazy loyal evangelists about the tech we love. It looks like a religious debate. Mine is the religion. When you talk about Linux distributions, desktop environments we use, products we choose in tech, especially anything for security, or in this case wireless deployments, you will have people who will, you know, everything butt punch each other over this. You'll watch heated debates and forums. Now, and if you go to the community.ubiquity, they have done a good job with community. You look at these posts. There's some big numbers in here. There's a lot of discussion. It's very active going on. There's a lot of other people besides me making videos and talking about their products. And why are we doing it? Because we're preaching about their products, because we're so happy with them. We've been installing ubiquity since 2013. So I'm a little concerned that there could be something wrong there. I'm not exactly a finance guy who knows stocks well enough to read his stuff and say, that's valid. You know, there's already been some rebuttals on this. And there is interesting things about ubiquity as a company. They don't seem to have the normal company structure that we're used to. And while I would say that would be a red flag, like he says, the other thing is I physically tangibly have their products in my hand in use and deployed. So you can say all you want about the company, but I'm holding product and they've been around since 2005. So now we've got 12 years in business and we have deployed tons of their equipment everywhere. Now, one of the things that makes ubiquity so much different and I have this page pulled up like the Marockeys from Cisco and things like that is pricing. Yes, Marockey is an interesting product, but they're old school thinking that I don't care for. Now, I don't mind paying fees for services or support. That's understandable. But for the business model that they have over at Cisco is like, oh, no problem. You need a license every year. And by the way, you can only use our controller that we control. And if Cisco decides or has a problem because tech companies have problems and there's a problem with their cloud server, screw you because you can't access the devices. You're only kind of renting devices from them. So you got to pay so much per year annually or they just turn themselves off. I don't like that business model and I know a lot of other technical people feel that way too. Ubiquity gives away the software that manages the product. They let you download it, they build a device. You can run your own cloud stack and not have to give ubiquity any more money from when you buy the device. Now, from a Wall Street perspective, that's a scary business model because people want to know what the long term recurring revenues and everything else and doing that. But other people like myself, I want to be able to buy it and own it and if the company has a problem maybe this guy's on the off chance, he's actually right and ubiquity falls apart. You know what won't fall apart? All the stuff that I have because I bought it. I don't have any recurring licensing for it. I would lose support for it and obviously it wouldn't be any more updates. But that gives me a transition period. If Cisco and Meraki were to close up shop all those end points would just go stop because they're locked into their cloud. And Meraki did have an incident that shook people a little bit. They had a little incident in their cloud center that caused some resets of all the data and that really has these big companies thinking going, wait a minute, we did everything perfect and think about this from a company standpoint, you know, large corporate entity. They do everything perfect. Their IT, everything was, you know, everything's checked, everything's done right but the cloud controller Meraki messes up and broke our internal network. That's a scary thing. I mean, Cisco is a strong company that does things generally right. I think like the quality of security and things like that. I'm just not fan of the licensing fees. But when you look at that, that's a scary proposition versus ubiquity. And if they went out of business, I tell my clients, look these products, there's not going to be updates anymore. We'll look for the next product that will fit the bill and transition to it. There's an easier answer. And if we screwed up our cloud controller, we can hold our own feet to the fire because we screwed it up. So it is a different business model for them. And I think that scares a lot of companies. It makes them look a little different. This guy also points out the, you know, empty buildings. And I think that's just a misconception for these, you know, you look at the Linux foundation and I'm going to point them out because I have a friend that works there. They don't, they have lots of workers around the world. They don't need a giant building to stick everyone in. That's the old way of thinking. That's the old business model. You don't need this huge, you know, big building where you put everyone together to make things work. We have better ways to communicate than ever and they keep getting even more enhanced. You don't have to be in the same building together. So I don't really get that argument that he's making. Granted, it seems odd and it would be odd for a public security company to be that way. You know, as far as statistically odd, but not odd as in it can't be done. It's being done. And I don't know. I'm not a big fan of this guy's whole really out there. Is he just trying to make a name for himself and calling this company out? Is there something there? I don't know. I'm going to keep an eye on the story. But I'm still ordering Ubiquiti products because nothing says I should stop ordering it. Their stock did take a hit. This was a big hit to them as far as, you know, the whole thing. But that's life. Hopefully they, you know, comment on this right now. Ubiquiti's remaining silent on this. But they don't really have a, as I understand as he points out, they don't have a big PR team to really address this. They're probably going to rely on the community and I'm Phil's though. I'm part of that community and I'll stick up for Ubiquiti. You know, I'm not, I can't really comment on the number of things. That's not my field of expertise, but their product is real. It's physical. It's in my hands. We've deployed a ton of them and we've had an amazing track record of success for all the stuff that we've deployed. It just works wonderful and they keep releasing updates. They just released another update for some more software. So the company's actively cranking out new product, new updates. That sounds good to me. Still active engagement in their forums. And there's an active discussion not being commented on Ubiquiti, but they're allowing it to occur on their forums about this whole thing right here with links and all that. I can leave a link to the community one there. But I do find it funny that he disabled comments for his. So he's like, comments disabled for this video. So, you know, while Ubiquiti's engaging comments, he clearly doesn't want any on his video, which I don't get. Like, why would you not want comments on here? So anyways, that's my thoughts on the Ubiquiti Citron research thing. I'll keep the, if there's an update to the story, I will certainly comment and whatnot on it. Check out my channel for all the Ubiquiti stuff on there and I already see popping up here of another person I subscribe to. We've got Crossock Solutions and also Willy Howe. We've also done a lot of videos on these and you can see the, you know, lioness tech tips as well. I know he's done them. All of us, we have nothing but wonderful things to say about all these Ubiquiti's on there. So something to think about, I think they have a good product and I think this guy might be full of a little hot air. He may even write on some things, but I don't know if he's right on this one here. So hey, thanks for watching. If you like the content here, like and subscribe.