I’m always amused by the contrast between big companies’ investor statements – “We’re awesome! At everything! And we’re getting even more awesomer!” – and their SEC filings and antitrust statements – “We suck! We’re a widdle tiny helpless baby, in a huge scary market, waaaahhh…”

Microsoft is the obvious current poster child, but it seems like everyone’s been there at some point.

And I don’t necessarily think this means companies in this position are always lying or even being disingenuous. Microsoft can honestly believe both that its future in gaming is bright, eg with Game Pass, and also that it’s currently the third place underdog in a hypercompetitive market, at the same time.

Regardless. Endlessly entertaining.