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Makeup Does. [14:52] schestowitz[TR2] Q2 is out. Revenue basically flat. Free cash flow flat for the half. And yet the letter reads like a highlight reel: double-digit growth here, strong performance there, three bold priorities for the back half. Look closer, and the growth is concentrated in exactly the places youd expect if the story were built on acquisitions rather than the underlying business. [14:52] schestowitz[TR2] Automation up 3%. Sounds modest until you remember thats the segment carrying HashiCorp and Apptio (both bought, both being folded into the base, both getting a full year of integration growth before the comparison gets tough). Data up 18%, presented like IBM is winning the AI battle. Except Data is also where Confluent landed. Strip out an acquisition that closed months ago and ask what the legacy products in that categor [14:52] schestowitz[TR2] y actually did on their own (thats the number nobody puts in bold). [14:52] schestowitz[TR2] This is the oldest trick in inorganic growth: buy a company, fold its revenue into your segment, get a full year of easy comps while contracts get renewed and blue-washed under the new parent, and call the blended number your own performance. It works, for about a year. Then the acquisition anniversaries into the base, the easy comp disappears, and the segment needs the next acquisition to keep the story going. Thats not a [14:52] schestowitz[TR2] growth engine. Thats a treadmill with a one-year lap time. [14:52] schestowitz[TR2] Meanwhile the parts of the business that were never propped up by an acquisition tell a rougher story. Infrastructure down 7%. Transaction Processing down 9% (theyre the same story told twice). Transaction Processing is the software that rides on Z. No mainframe refresh, no new Z capacity, no large deals closing (no new MLC licensing booked either). Hardware and software here arent two separate lines on a slide, theyre one [14:52] schestowitz[TR2] engine: when Z doesnt sell, the software tied to it doesnt sell either, and both numbers fall together because they were never actually independent. [14:52] schestowitz[TR2] Which raises the uncomfortable question: how much of this business is actually layered on top of itself? Acquired revenue propping up Automation and Data while the base underneath goes quiet. Mainframe hardware and mainframe software rising and falling as one, dressed up as two separate growth stories. Each piece needs the piece below it to keep moving, or the whole structure stalls at once. Call it what you want (a treadmill, a ho [14:52] schestowitz[TR2] use of cards, a pyramid where each new acquisition is there to cover for the last ones fading comp): the pattern is the same, nothing underneath is generating growth on its own, its all leaning on something else that has to keep being fed. [14:52] schestowitz[TR2] Revenue flat overall at $17.2 billion. Free cash flow flat at $4.8 billion for the half. If the real IBM (the part that isnt riding a recent purchase or a hardware refresh cycle) is shrinking while acquisitions and mainframe timing carry the average, the honest question isnt is IBM a software company. Its whose growth is this, actually, and what happens the quarter the props stop arriving on schedule? [14:52] schestowitz[TR2] And right on schedule, the answer on offer is another reshuffle (new titles, new coverage models, a new operating structure for the back half). But renaming jobs doesnt change whats underneath them. If the growth was never really organic to begin with, no amount of reorganizing who sells it or what theyre called is going to make it real. [14:52] schestowitz[TR2] And this isnt a new discovery. The pattern has been visible on the ground for years (it just took a bad quarter for the market to finally notice what employees already knew). Thats the part worth sitting with: this wasnt leadership missing a hidden signal. It was leadership seeing it, for years, and being too arrogant to admit the story needed correcting. Too invested in a stock price number (chasing $300 a share) to step [14:52] schestowitz[TR2] back and ask whether the growth underneath it was real. [14:52] schestowitz[TR2] And even if the July reorg were the right diagnosis, it isnt the right timeline. Deployment takes months to show up as revenue under the best conditions, longer when the team doing it just got reshuffled and has to relearn who owns what. A reorg launched mid-year, needing to prove itself by year-end, is asking for a wow effect on a clock that deployment has never once run on. Nobody deploys enterprise software in one or tw [14:52] schestowitz[TR2] o quarters just because leadership needs a good Q4 slide. So the real question isnt whether the numbers improve by December; its whether anyone at the top is honest enough to say, out loud, that they wont, and that expecting otherwise is expecting a miracle from a plan that was never built with that timeline in mind. [14:52] schestowitz[TR2] Numbers tell the truth when you sit with them long enough. Put makeup on them (bold a growth rate, bury the segment it came from, skip the base its being compared against) and theyll tell you whatever story needs telling that quarter. This quarters story needed rescuing. The last-minute reorg landing on top of it isnt the fix. Its one more coat of makeup on a number thats going to need a lot more than that to hold [14:52] schestowitz[TR2] up next quarter, when the acquisitions currently doing the heavy lifting start looking like ordinary IBM again. [14:52] schestowitz[TR2] " ● Jul 23 [15:19] schestowitz[TR2] https://www.thelayoff.com/t/1ky6zvm6j [15:19] -TechBytesBot/#techbytes- ( status 403 @ https://www.thelayoff.com/t/1ky6zvm6j ) [15:19] schestowitz[TR2] " [15:19] schestowitz[TR2] Yea this time it really does feel like the end [15:19] schestowitz[TR2] 31 minutes ago by Anonymous [15:19] schestowitz[TR2] | 1 reaction (+1/-0) | Reply [15:19] schestowitz[TR2] Post ID: @b3+1ky6zvm6j [15:19] schestowitz[TR2] +2 [15:19] schestowitz[TR2] @a9 literally any time of year they can put you on a PIP [15:19] schestowitz[TR2] 3 hours ago by Anonymous [15:19] schestowitz[TR2] | 2 reactions (+2/-0) | Reply [15:19] schestowitz[TR2] Post ID: @ah+1ky6zvm6j [15:19] schestowitz[TR2] +5 [15:19] schestowitz[TR2] @OP Sadly this is true. I'm in the Sales Org. Rob Thomas totally fcked it all to h3ll. Nobody is happy and everyone is looking. I guess if Rob is reading this, he can pat himself on the back and say "mission accomplished." What a piece of sh!t that guy is. [15:19] schestowitz[TR2] 3 hours ago by Anonymous [15:19] schestowitz[TR2] | 5 reactions (+5/-0) | Reply [15:19] schestowitz[TR2] Post ID: @af+1ky6zvm6j [15:19] schestowitz[TR2] +2 [15:19] schestowitz[TR2] Do the performance scores only get assigned once per year (EOY)? Or can they call you out as a low performer any time? [15:19] schestowitz[TR2] 4 hours ago by Anonymous [15:19] schestowitz[TR2] | 2 reactions (+2/-0) | Reply [15:19] schestowitz[TR2] Post ID: @a9+1ky6zvm6j [15:19] schestowitz[TR2] +4 [15:19] schestowitz[TR2] Totally agree with you. [15:19] schestowitz[TR2] " [15:24] schestowitz[TR2] https://www.thelayoff.com/t/1ky5zc7tg [15:24] -TechBytesBot/#techbytes- ( status 403 @ https://www.thelayoff.com/t/1ky5zc7tg ) [15:24] schestowitz[TR2] " [15:24] schestowitz[TR2] https://seekingalpha.com/news/4617339-ibms-outlook-sees-positive-reactions-from-analysts-after-q2-results [15:24] schestowitz[TR2] Wall Street seems to have bought IBMs reduced expectations [15:24] schestowitz[TR2] 1 hour ago by Anonymous [15:24] schestowitz[TR2] | no reactions | Reply [15:24] schestowitz[TR2] Post ID: @cr+1ky5zc7tg [15:24] schestowitz[TR2] -4 [15:24] schestowitz[TR2] Meat is back on the menu! We are so back boys! [15:24] schestowitz[TR2] 10 hours ago by Anonymous [15:24] schestowitz[TR2] | 6 reactions (+1/-5) | Reply [15:24] schestowitz[TR2] Post ID: @az+1ky5zc7tg [15:24] schestowitz[TR2] +3 [15:24] schestowitz[TR2] Sarcasm detected in OP's post. [15:24] schestowitz[TR2] 13 hours ago by Anonymous [15:24] schestowitz[TR2] | 3 reactions (+3/-0) | Reply [15:24] schestowitz[TR2] Post ID: @ag+1ky5zc7tg [15:24] schestowitz[TR2] +2 [15:24] schestowitz[TR2] Bob's selling all his apollo to buy ibm. [15:24] schestowitz[TR2] 14 hours ago by Anonymous [15:24] schestowitz[TR2] | 4 reactions (+3/-1) | Reply [15:24] schestowitz[TR2] Post ID: @ac+1ky5zc7tg [15:24] schestowitz[TR2] +2 [15:24] schestowitz[TR2] The opening in the morning should tell the story. [15:24] schestowitz[TR2] 14 hours ago by Anonymous [15:24] schestowitz[TR2] | 4 reactions (+3/-1) | Reply [15:24] schestowitz[TR2] Post ID: @ab+1ky5zc7tg [15:24] schestowitz[TR2] -2 [15:24] schestowitz[TR2] On the earnings call IBM reduced their growth to 4-5%. They also said 30% of the missed deals in June were captured in July. NET NET its going to be a slow road back to growth, but not impossible [15:24] schestowitz[TR2] 14 hours ago by Anonymous [15:24] schestowitz[TR2] | 4 reactions (+1/-3) | Reply [15:24] schestowitz[TR2] Post ID: @aa+1ky5zc7tg [15:24] schestowitz[TR2] +8 [15:24] schestowitz[TR2] Yeah, it fell on the close, then rose for maybe 10-15 minutes, and then has been red ever since. Yet this is like the 4th or 5th "IBM stock rises despite revenue miss" I've seen. IBM must be paying them. [15:24] schestowitz[TR2] 14 hours ago by Anonymous [15:24] schestowitz[TR2] | 8 reactions (+8/-0) | Reply [15:24] schestowitz[TR2] Post ID: @a9+1ky5zc7tg [15:24] schestowitz[TR2] +10 [15:24] schestowitz[TR2] 7:20pm ET its sitting at $204. Have another hit of whatever youre smoking. [15:24] schestowitz[TR2] " [15:24] -TechBytesBot/#techbytes- ( status 403 @ https://seekingalpha.com/news/4617339-ibms-outlook-sees-positive-reactions-from-analysts-after-q2-results ) [15:33] schestowitz[TR2] https://www.thelayoff.com/t/1ky54w55b [15:33] -TechBytesBot/#techbytes- ( status 403 @ https://www.thelayoff.com/t/1ky54w55b ) [15:33] schestowitz[TR2] "Already hard enough getting motivated to waste my time sending out resumes, which seems pointless - as you so clearly point out. But as much as I completely hate your comment, I suppose it is true. Not even those I know with a job where there are openings will support my application - don't want my old stench wafting into their future job stability. This has been the case 10 yrs already. But still I don't appreciate you putting th [15:33] schestowitz[TR2] ese ageist garble into the universe. Anyhow, the truth is - I was running circles around my younger colleagues typically. But if you are not perceived as having potential, you are sc--wed. And based on demographics, I have not been seen as a person with potential since I was 24 and already dealing with ageism in the field of economics. Tired of having to run my own business, but looks like I will have to go back to it again. [15:33] schestowitz[TR2] 42 minutes ago by BBB [15:33] schestowitz[TR2] | 2 reactions (+2/-0) | Reply [15:33] schestowitz[TR2] Post ID: @ea+1ky54w55b [15:33] schestowitz[TR2] 0 [15:33] schestowitz[TR2] @e0 Well maybe if Expert Labs wasnt overpriced, customers would have bought it. Just like everything else with this place, TEL priced themselves out of the market. Why would a customer pay you when they can pay a BP far less for the same results? Dont get me wrong there are some talented folks in TEL and they work with CSEs. They dont whine about them like you do. Regarding the CSE program, point that finger at Rob Thomas. [15:33] schestowitz[TR2] He fed up the CSM program and what do you knowdeployments tanked. Gee who saw that coming? Oh yeaheveryone! [15:33] schestowitz[TR2] 1 hour ago by Anonymous [15:33] schestowitz[TR2] | no reactions | Reply [15:33] schestowitz[TR2] Post ID: @e7+1ky54w55b [15:33] schestowitz[TR2] 0 [15:33] schestowitz[TR2] @dq "CSEs are a free service..." Isn't that the problem? Which companies are offering free services? No wonder 2Q results were a disaster! Great job CSE! [15:33] schestowitz[TR2] 2 hours ago by Anonymous [15:33] schestowitz[TR2] | no reactions | Reply [15:33] schestowitz[TR2] Post ID: @e0+1ky54w55b [15:33] schestowitz[TR2] +1 [15:33] schestowitz[TR2] @bk Wishing your fellow IBMers get laid off? What an unprofessional and inappropriate thing to do. If you don't like someone because they're doing your job for you, the problem isn't them. It's you. If I were you I'd be more worried about your own job. CSEs are a free service. You're not. [15:33] schestowitz[TR2] 3 hours ago by Anonymous [15:33] schestowitz[TR2] | 3 reactions (+2/-1) | Reply [15:33] schestowitz[TR2] Post ID: @dq+1ky54w55b [15:33] schestowitz[TR2] +5 [15:33] schestowitz[TR2] @bk interesting. Im in TEL and in my experience the CSEs Ive worked with have brought us in for multiple opportunities. Maybe they just dont like you. [15:33] schestowitz[TR2] 8 hours ago by Anonymous [15:33] schestowitz[TR2] | 5 reactions (+5/-0) | Reply [15:33] schestowitz[TR2] Post ID: @cs+1ky54w55b [15:33] schestowitz[TR2] +7 [15:33] schestowitz[TR2] @b7 yep. I am a very young looking 60 year old who had kids late in life. I am finding it impossible to get hired anywhere. But I have saved a lot of $$$ as I have been expecting to be laid off by IBM for the past 20 years - so dropping out as soon as the unemployment runs out. [15:33] schestowitz[TR2] The worst part is I was really great at what I did. And before Arvind, loved it. But sadly my "bosses" were morally and creatively bankrupt. They were the worst and like Arya in Game of Thrones, I pray nightly they will pay. Hopefully they will all suffer for destroying my career and livelihood. Ge----l warts of the brain seems about fair. [15:33] schestowitz[TR2] " [15:33] schestowitz[TR2] https://www.thelayoff.com/t/1ky7hs98g [15:33] schestowitz[TR2] " [15:33] schestowitz[TR2] Sung to the tune of Sweet Caroline (yeah, the Fenway Park hymn) [15:33] schestowitz[TR2] IBMs stock fell [15:33] schestowitz[TR2] Then fell harder [15:33] schestowitz[TR2] As if gravity saw Arvind coming and said, [15:33] schestowitz[TR2] Ah yes, my favorite id--t. [15:33] schestowitz[TR2] Arvind Krishna arrived, [15:33] schestowitz[TR2] Tripping over absolutely nothing, [15:33] schestowitz[TR2] Holding a ThinkPad upsidedown [15:33] schestowitz[TR2] And insisting it was in stealth mode. [15:33] schestowitz[TR2] He wore a helmet made of broken routers, [15:33] schestowitz[TR2] A cape of tangled charging cables, [15:33] schestowitz[TR2] And shoes he accidentally stapled to his socks. [15:33] schestowitz[TR2] He shouted, [15:33] schestowitz[TR2] I SHALL OPTIMIZE THE DOWNWARDNESS! [15:33] schestowitz[TR2] Then tried to reboot the stock chart [15:33] schestowitz[TR2] By blowing on it like a Nintendo cartridge. [15:33] schestowitz[TR2] Traders chanted in that familiar stadium rhythm: [15:33] schestowitz[TR2] Arvind Arvind ARVIND! [15:33] schestowitz[TR2] Mostly because they were too stunned [15:33] schestowitz[TR2] To process what he was doing. [15:33] schestowitz[TR2] Arvind summoned a strategic vortex, [15:33] schestowitz[TR2] Which turned out to be [15:33] schestowitz[TR2] A leaf blower he found in the janitors closet. [15:33] schestowitz[TR2] He aimed it at the market [15:33] schestowitz[TR2] And yelled, [15:33] schestowitz[TR2] RISE, YOU COWARDS! [15:33] schestowitz[TR2] while papers flew everywhere [15:33] schestowitz[TR2] and the stock continued falling politely. [15:33] schestowitz[TR2] He attempted to wrestle a bear market, [15:33] schestowitz[TR2] But grabbed a coat rack instead [15:33] schestowitz[TR2] And declared victory. [15:33] schestowitz[TR2] The stock paused midplummet, [15:33] schestowitz[TR2] Not because of fundamentals, [15:33] schestowitz[TR2] But because it was genuinely confused [15:33] schestowitz[TR2] By Arvinds entire existence. [15:33] schestowitz[TR2] The chorus rose again: [15:33] schestowitz[TR2] Arvind Arvind ARVIND! [15:33] schestowitz[TR2] Thus the legend was born [15:33] schestowitz[TR2] Short, chaotic, and featuring [15:33] schestowitz[TR2] the most gloriously stupid Arvind imaginable. [15:33] schestowitz[TR2] " [15:34] -TechBytesBot/#techbytes- ( status 403 @ https://www.thelayoff.com/t/1ky7hs98g ) ● Jul 23 [16:02] schestowitz[TR2]
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    Fairphone 6 with /e/OS 4.0 - Results, results, results
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    My recent endeavors on the Fairphone + Android and the Pixel added to my general distrust and aversion toward the smartphone stuff. So much in fact, that I decided to give the tiny niche its chance. The options are many. GrapheneOS, LineageOS, /e/OS, and then some. Most of these require manual effort by the end user, and often, you need a very specific device. If you don't have one, it's a [16:02] schestowitz[TR2] rather tailored purchase, for results with an unknown happiness factor. But I did find a rather nice candidate. Fairphone. It ships with /e/OS as a factory option, and I already happen to have a Fairphone. Lo and behold! I already did this test, what! I immersed myself into the avantgarde world of mobile software. The results were, well, let's say curious. Now, we must continue this adventure. After me!

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    • [16:02] -TechBytesBot/#techbytes-www.dedoimedo.com | Fairphone 6 with /e/OS 4.0 - Results, results, results [16:03] schestowitz[TR2]
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    BSDCan 2026 Travel Report Patrick McEvoy
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    The June 2026 FreeBSD DevSummit & BSDCan was again successfully recorded and streamed through longtime streaming sponsor ScaleEngine. The requested DevSummit 2 question microphone system kept our running around to a minimum and fit the two rows of DMS1160. We got to see CheriBSD hardware again, in fact, Brooks Davis presented from a CheriBSD box. This year, the DevSummit focused more on AI [16:03] schestowitz[TR2] integration than in previous years. Community member Warner Losh, in particular, gave an interesting talk about how he has used AI to help resolve an issue he was facing. I will refer you to the video posted to the FreeBSD YouTube channel for more details.

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    BSDCan 2026 Trip Report ShengYi Hung
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    This years DevSummit felt a little different from previous years. A number of sessions touched on how AI is influencing project maintainability. Some of that influence is positive vulnerability research came up as one example but its also adding real burden on the reviewer side. Hearing different opinions from different people gave me a much broader view of the issue than I h [16:03] schestowitz[TR2] ad going in.

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    • [16:03] -TechBytesBot/#techbytes-freebsdfoundation.org | BSDCan 2026 Travel Report Patrick McEvoy | FreeBSD Foundation [16:04] -TechBytesBot/#techbytes-freebsdfoundation.org | BSDCan 2026 Trip Report ShengYi Hung | FreeBSD Foundation [16:16] schestowitz[TR2]
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    Sfera Labs ships Strato Pi Plus with quad RS-485 and CAN FD
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    Sfera Labs has begun shipping the Strato Pi Plus, a DIN-rail industrial edge server based on the Raspberry Pi 4B or Raspberry Pi 5. The system adds a 1050 V DC power supply, up to four isolated RS-485 interfaces, CAN FD connectivity, and an independent RP2354 microcontroller.

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    Raspberry Pi launches 10-inch Touch Display 2 with 1200 1920 resolution
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    Raspberry Pi has introduced a 10-inch version of its Touch Display 2, expanding the display family beyond the existing 5-inch and 7-inch models. The new panel provides a 1200 1920 resolution, ten-point capacitive touch, and compatibility with the Raspberry Pi 5 and supported Compute Module platforms.

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    • [16:16] schestowitz[TR2] [16:16] -TechBytesBot/#techbytes- ( status 520 @ https://linuxgizmos.com/sfera-labs-ships-strato-pi-plus-with-quad-rs-485-and-can-fd/ ) [16:16] -TechBytesBot/#techbytes- ( status 520 @ https://linuxgizmos.com/raspberry-pi-launches-10-inch-touch-display-2-with-1200-x-1920-resolution/ ) [16:28] *x-amarsh04 has quit (Ping timeout: 2m30s) [16:31] *x-amarsh04 (~amarsh04@jmtnab5dukjea.irc) has joined #techbytes ● Jul 23 [19:56] schestowitz[TR2] https://www.thelayoff.com/t/1ky7hw592 [19:56] -TechBytesBot/#techbytes- ( status 403 @ https://www.thelayoff.com/t/1ky7hw592 ) [19:56] schestowitz[TR2] " [19:56] schestowitz[TR2] the little indian AI HR rep mentioned that book he read once. everybody take a drink! [19:56] schestowitz[TR2] when the ceo takes $100m its because hes so wise. when the stock craters its because we didnt move fast enough. ever notice that? [19:56] schestowitz[TR2] " [19:57] schestowitz[TR2] https://www.thelayoff.com/t/1ky80b5ra [19:57] -TechBytesBot/#techbytes- ( status 403 @ https://www.thelayoff.com/t/1ky80b5ra ) [19:57] schestowitz[TR2] " [19:57] schestowitz[TR2] IBM Is The Worlds Worst Big Tech Company [19:57] schestowitz[TR2] IBM missed every major tech revolution from PCs to AI, shrinking to a $200 billion market cap while private OpenAI is valued at $900 billion. [19:57] schestowitz[TR2] IBM, which has been poorly run for decades, is on the ropes. The company has had plenty of practice managing decline. When it warned about its earnings a week ago, the stock dropped over 20%. It is down 30% for the year, while the S&P is up 9%. The picture is even bleaker from another vantage point: in early June, the stock changed hands at $329, but it trades at very slightly better than $200 now. [19:57] schestowitz[TR2] https://247wallst.com/investing/2026/07/23/ibm-is-the-worlds-worst-big-tech-company/ [19:57] schestowitz[TR2] " [19:57] -TechBytesBot/#techbytes-247wallst.com | IBM Is The World's Worst Big Tech Company - 24/7 Wall St. ● Jul 23 [21:43] *psydroid3 (~psydroid@kcvnmgbxt8eqq.irc) has joined #techbytes ● Jul 23 [22:00] *psydroid3 has quit (Quit: KVIrc 5.2.10 Quasar http://www.kvirc.net/)