Start Here
Welcome to MBI Deep Dives.
Latest Posts
"Never Sell" Episode: AI Doom, Veeva, Research and Writing
For the “Never Sell” podcast, Scuttleblurb and I published a new episode covering investors’ increasing fascination around AI doom scenarios, why we think Veeva is likely to be more insulated from AI disruption, and the value of approaching investment research more as a judge rather than as a lawyer defending
Unprecedented Lock-in
Apollo recently published their US housing outlook which is an interesting read to get up to speed on how the housing market is faring. Let me highlight a couple of things from their piece that stood out to me.
One of the things that jumped out to me is just
Social Media's Defense
Last week, I shared my concern that algorithmic content may force companies such as Meta to share some liabilities for the content shown on their properties because of the product design choices these companies made. From my piece:
I…do sympathize with the concerns related to algorithmic content on all
The Pendulum Between Intelligence and Knowledge
Over the last week or so, I have started noticing an interesting development that is worth highlighting.
Let’s start with Microsoft’s announcement yesterday. From Microsoft’s blog yesterday (emphasis mine):
“Today, Researcher—Microsoft 365 Copilot’s deep research agent for work—takes a significant step forward. Designed to
Energy's Moment
S&P 500 is down almost 7% Year-to-date. As you can see below, Energy sector ETF has been by far the best performing so far in 2026 with ~40% return YTD. Tech, on the other hand, was close to the other extreme as it is down ~10% YTD.
In
Thoughts on Last Week
Programming Note: I will take tomorrow off as I have some family commitment. I will be back on Monday.
Ouch! Last week was quite terrible for MBI portfolio. I will share some thoughts on how I am thinking through the portfolio behind the paywall.
In addition to “Daily Dose” (yes,
Digital Engagement's Fat Tail Risk?
“There are decades where nothing happens; and there are weeks where decades happen.”
Indeed, Meta, along with other social networks and potentially any company that relies on engagement online, may be passing through a week that can have a much deeper implication over the next decade.
Meta specifically suffered two
Follow-up on Floor & Decor
Following my piece “Why I am buying Floor & Decor”, I have received a couple of pushbacks. I will address those and expand on FND’s competitive dynamics a bit more behind the paywall.
In addition to “Daily Dose” (yes, DAILY) like this, MBI Deep Dives publishes one Deep Dive
Meta's Agentic AI Ambitions
When Meta started building their Superintelligence team (MSL) in mid-2025, I certainly expected to see faster progress than what we have seen from them so far. I wonder if the Llama 4 fiasco as well as the backlash for “Vibes” last year made Meta much more tentative than usual for
Scuttleblurb on Ryan Specialty
It doesn’t happen often, but right after publishing my Deep Dive on Ryan Specialty Group last week, my friend Scuttleblurb also published on the same company. Scuttleblurb’s work is excellent as usual, and there are a couple of things that I want to highlight from Scuttleblurb’s piece