This is honestly just a terrible development. Part of the unique value of the public markets is liquidity. Making it so companies are required to update their investors less frequent means we are moving towards opaque, confusion, and lack of data. And there’s nothing “long term” about getting less frequent updates. One of the most long term focused companies ever is Costco, which releases KPIs *monthly*. Removing the quarterly reporting period will just give investors less data to work with and make it so insiders can sell out of a stock long before the public is aware of the problems.