--stagnating company means politics (land grabs and maneuvering to secure ongoing roles)
--heavy internal promotion of under-qualified employees who have been here for years, and have no outside perspective or experience to help bring positive change. The result: frustrated top talent steadily leaves (or is pushed out) to work at companies which actually build products. Remaining management turns into group-thinkers overseeing disspirited "yes men".
--long-tenured mediocre performers not removed
--inconsistent and often poor people management, with nearly no management training or monitoring by HR
--vast majority of revenue from a single product (Dolby Digital Plus surround sound), which is increasingly irrelevant because of stereo devices like tablets and smartphones.
--near total failure to execute in mobile (public information)
--key underlying patents are expiring (also public information)
--few employees under 35, and just as few customers under 35 who know or care about the company
--consumer marketing is a muddled mess, and partners aren't marketing on behalf of the company
--multiple acquisitions with no clear on-boarding process, and little-to-no resulting revenue