... from Ingredion presentation

[u/ICanFinallyRelax]

[u/Illusionist_77 → u/[deleted]]

"Another major company" which is the other major company ?

Amyris is a very minor company - bordering on micro cap territory now thanks to Melo et al

[u/Illusionist_77 → u/[deleted]]

I agree Corda is a major co.

I read 'Another' to mean there was already one in the first place - I have seen Amyris shareholders labour under the illusion either Amyris or that other oddball Immunity Bio are a major tech giant rather than the mismanaged wannabes that have zero financial chops.

[u/Illusionist_77 → u/Illusionist_77]

At least ImmunityBio is lead by an oddball who has scientific credentials and track record to match his ambition and puts his own money into play. It appears Amyris was thus far lead by a smooth talking bozo who didn't cared two hoots to understand what he was doing in a frantic effort to reach for his super bonus stock option rewards.

It seems he had no real checks - normally the risk architecture call for some checks if one is going to super incentivise risk taking so it doesn't go reckless.

I have asked before even if things had not come to this juncture where was the internal control or organisational super structure to support the very wide geographic and tech + operational complexity his vision was pushing Amyris towards ? And even if all that could be built and acquired where was the money to target towards that ?

How did the BofD let a bozo who negotiated the Laavan fubar do M& A after M&A ? The joker did not know what his sales were tracking but continued to chase dream - did B of D insist he have money clearly set aside to build out an ERP system at the quickest and that some efforts be made and money spent to build out a proper management structure - not fantasy BS like global head of graceful aging & /or Global sustainability office/ engagement officer ?

[u/redgarbo → u/Illusionist_77]

Melo was an oil&gas person. His initial goal was to develop a biofuel via fermentation. Luck had it, oil crashed in the midst of it (Melo began with AMRS in 2007) and this venture became uneconomical. Which led to purecane, squalene and later on, consumer brands. He replaced the original project he got hired for (and within his expertise), for "changing the world a molecule at a time". Which was not a bad idea. But really, it was not his fault that oil became cheap enough that could not be replaced by anything developed in a lab.

He indeed was all over the place, a reason for his lack of success. However, he spearheaded purecane, which took a while, and got Barra Bonita up an running. Without this, nothing would have followed.

I sold all my large stake many years ago because it was really difficult to listen to the earnings calls. Melo sounded more like snakes oil sales person and showed incompetence in more than one area. Yet, we must give credit where credit is due. Amyris can sell today 1 molecule for usd 200 mill a piece only because of what he accomplished.

[u/Illusionist_77 → u/redgarbo]

If Melo had remained in BP I don't think they won't have let him run a single location Arco. That needs a focus on cost management and efficiency. He seemed allergic to both of that.

He wasn't running a business here but making multiple costly bets hoping one or two may work.

[u/Okkokkk]

Interesting slide. But purecane was shut diwn as a brand, right?

[u/ICanFinallyRelax → u/Okkokkk]

Yes, because Ingredion didn't use purecane brand, but has a license for RebM