Day 78: Blocked Again — While the Stock Does the Slide

Today is Day 78 of my continuing Nextdoor case study.

And apparently we're doing two kinds of sliding:

The NXDR stock price is sliding.

And I've apparently slid right back onto Nirav Tolia's LinkedIn blocked list.

Well, that didn't take long.

On August 29, I was once again able to comment on Nirav's LinkedIn posts.

So I did.

I surfaced the same questions I've been raising publicly about how Nextdoor is being run: leadership decisions, communication, accountability, transparency, customer experience, and what I believe are some very questionable strategic choices.

And now?

I'm blocked again.

I have to admit, this one really gets me.

I'm one guy.

I'm not running a public company.

I'm not a Silicon Valley CEO.

I'm not appearing on podcasts discussing leadership, entrepreneurship, community, and human connection.

I've never sat in one of those big chairs on Shark Tank deciding whether somebody else's company deserves an investment.

I'm just a small shareholder with a website, a LinkedIn account, questions—and apparently a remarkable ability to locate Nirav Tolia's block button.

Meanwhile, Let's Talk About the Stock

NXDR has been doing a little slide of its own.

The stock closed at $2.68 on August 10.

By August 28, it closed at $2.27.

Stocks go up. Stocks go down. Eighteen days certainly don't determine the future of a company.

But shareholders are allowed to ask questions when the direction isn't the one we'd like to see.

And Nextdoor's latest quarterly results still included a net loss of $2 million.

Yes, that's a significant improvement from the $15 million loss during the same quarter a year earlier. Nextdoor also reported positive adjusted EBITDA.

I acknowledge progress when it's there.

But a loss is still a loss.

And here's what gets me:

The CEO of a public company can receive compensation worth millions while shareholders watch the stock struggle and the company continues reporting a GAAP net loss—and somehow my LinkedIn comments are enough to get me blocked again?

That's fascinating to me.

I'm not the person running the company.

I'm one of the people invested in it.

Imagine This on Shark Tank

An entrepreneur walks into the Tank.

The Shark starts asking uncomfortable questions:

Why are you losing money?

Why is the stock struggling?

Why isn't the strategy producing better results?

What are customers saying?

Why should investors believe in the turnaround?

The entrepreneur doesn't like the questions.

So instead of answering...

they block the Shark.

🦈 “And for that reason, you're blocked.”

I'd watch that episode.

Leadership Isn't Tested by Compliments

It's easy to talk about transparency when everyone agrees.

It's easy to talk about community when everyone is applauding.

It's easy to talk about listening when the message is flattering.

Leadership gets more interesting when someone says:

I don't think you're doing this well. Explain why I'm wrong.

Maybe I am wrong.

Show me.

Challenge my argument.

Explain the strategy.

Tell me why the decisions I'm criticizing make sense.

I'd welcome that conversation.

Blocking is easier.

And apparently we've chosen easier again.

Day 78 — And the Questions Haven't Been Blocked

I'm still waiting for the detailed Insights data that started this entire counter.

I'm still documenting what happens.

And I'm still a shareholder who wants Nextdoor to succeed.

That's precisely why I'm asking questions.

Nirav can block my LinkedIn account.

He can prevent my comments from appearing underneath his posts.

But here's the problem:

Blocking the shareholder doesn't block the questions.

It doesn't change the earnings report.

It doesn't move the stock price.

It doesn't improve communication.

And it doesn't end this case study.

So here we are.

Day 78.

The stock has been sliding.

I'm blocked again.

The detailed data still hasn't arrived.

And somehow, one guy with a blog keeps being worth blocking.

That's becoming a story all by itself.

Read the complete continuing Nextdoor case study at NielFlamm.com/blog and subscribe at NielFlamm.com to see what happens on Day 79.