Best sell-side primers on semi's? cc: Hemingway Capital

Hahaha NFL wants a % of the PE's carry on their NFL investments. PE finally met their match!

Or you could just say you overhired during ZIRP and need to go public soon?

Someone tell me how I should feel

Yelp CEO every 3 years

Generally, I do not think good management teams make drastic changes to sales org mid-year. Almost is a reflection of a priority or end market change. Or simple messed up annual planning.

War on VC blog posts has been declared

One of the funnier narratives is that Brian Chesky going on “founder mode” is what saved AirBnB and not you know a once a generation travel spike, stimulus and remote work policies

It’s pretty funny that SaaS transitions were supposed to make the business more predictable than license for investors but everyone just moved to focusing on some bookings proxy

As I've been saying, Tucker - Sauron has been clear about his peaceful, unifying intentions, and yet Gondor persists in its expansionist schemes! The placement of a garrison in Osgiliath is an escalatory action that must be condemned by all the Free peoples of Middle Earth.

I’d hate to be invested in Manager Mode companies

Maybe I was completely wrong about Google being able to weather this. It’s pretty amazing that they have made no progress with mindshare for Bard. And by amazing I mean embarrassing

Lol. One of the top Qs for DB post their conference: "UCaaS / CCaaS – Is the group investable? Why bother to look at the group?" Great Q.

IWM outperforming NDX because IWM has more defensible businesses clearly

Great movie; would recommend. Will be called Margin Call for tech in a few years. Beating Russillo to this take. youtube.com/watch?v=_kdIV1…

All of the Klarna tech and AI "news" is best viewed in the context of a business that is inherently a bank wanting a "tech" multiple and intends to IPO in the near term. Literally no other reason why a company would talk this much of their R&D investments publicly.

The natural evolution of every Weekly Substack: running out of interesting things to write about so you move onto the “What If” pile of topics