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Cloudflare: Helping to Build a Better Internet
You can listen to this Deep Dive here
In 1997, Matthew Prince, one of the co-founders of Cloudflare, called his father (who was a stockbroker at that time) and said, "I think I want to buy 1,000 shares of Apple stock." Split-adjusted, Prince paid ~13¢/share. That
Autodesk 2Q'FY 2023 Earnings Update
Disclosure: I own shares of Autodesk
"End market demand remained strong during the quarter, resulting in robust new business activity. Renewal rates were again excellent."
This was a solid quarter for Autodesk. Let's dig in.
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Autodesk beat the high end of topline guidance which,
Adobe: A Software Giant from the 80s
You can listen to this Deep Dive here
John Warnock and Charles “Chuck” Geschke, who met each other while working for Xerox, co-founded Adobe in 1982. John was leading a team at Xerox to build InterPress, a protocol for Xerox printers and became disillusioned as Xerox showed little interest in
IAC 2Q'22 Earnings Update
Disclosure: I own shares of IAC
"We want our shareholders to feel their capital is safe with us...that it’s our responsibility to help that capital grow healthily by building businesses and creating opportunities our shareholders may not have the chance to access on their own."
IAC
Block 2Q'22 Earnings Update
Disclosure: I own shares of Block/Square
"...we recognize the importance of exercising discipline with our investments as we enter a period of potential uncertainty."
Unfortunately, total opex continues to exceed gross profit, and given the focus on non-GAAP opex, actual opex may remain ignored.
Let's
Amazon 2Q'22 Earnings Update
Disclosure: I own shares of Amazon
Amazon may be the first and the last ~$1.5 Tn market cap company to report negative Trailing Twelve Months (TTM) FCF (-$23.5 Bn to be exact).
It is quite incredible how Amazon management gained credibility and earned trust to ride through
Meta 2Q'22 Earnings Update
Disclosure: I own shares of Meta
“…we seem to have entered an economic downturn that will have a broad impact on the digital advertising business. And it's always hard to predict how deep or how long these cycles will be, but I'd say that the situation
Shopify 2Q'22 Earnings Update
Disclosure: I own shares of Shopify
“2022 will be different, more of a transition year in which e-commerce is largely reset to the pre-COVID trend line and is now pressured by persistent high inflation.”
Let's dive into this "transition year"!
While Shopify still maintains >50%
Spotify 2Q'22 Earnings Update
Disclosure: I own shares of Spotify
“…we believe the Spotify machine is what differentiates us from other tech platforms. It leverages one consumer experience, powered by 3 revenue-generating business models: subscriptions, ads and marketplace.”
After falling into the abyss, the "machine" mostly delivered this quarter which led to