Meta Needs A Decade Of Efficiency

Disclosure: I own January 2025 Call Options and Shares of Meta Platforms This is Part-1 of my four-part series on Big Tech. Part-two, three, and four will be on Alphabet, Amazon, and Microsoft respectively. While this post is made public, the rest of the series will be behind paywall. Subscribe

Autodesk 4Q'FY23 Update

Disclosure: I am long shares of Autodesk Subscribe Autodesk met their high end of the topline guidance. While topline grew at High Single Digit (HSD) rate YoY, it was +12% FXN. Subscription revenue, which is ~92% of revenue, was +14% FXN. While Media &Entertainment (M&E) segment was

Fastenal: Compounding Nuts and Bolts

You can listen to this Deep Dive here On "Invest Like The Best", Charlie Songhurst mentioned an interesting framework which I think is quite apt as a starting point for Fastenal Deep Dive (emphasis mine): if you pick two axes, one co-axis is boredom and the other is

Shopify 4Q'22 Earnings Update

Subscribe "If you look at our 7 years since IPO, we were profitable 5 out of the 7." -Harley Finkelstein (4Q'22 Call) Except that's not true! Shopify was profitable only 2 out of 7 years since IPO. Perhaps he was adding back SBC? You

IAC 4Q'22 Earnings Update

Subscribe Disclosure: I own shares of IAC The world was priced for perfection, digital companies broadly focused on growth at all costs, and “basic” was a tacit insult. Not anymore! IAC's theme for 2023 is "Back to Basics: clear objectives, relentless prioritization, focus on profitability and return

Amazon 4Q'22 Earnings Update

Subscribe Disclosure: I own shares, and Jan 2025 call options of Amazon ..it's important to remember that over the last few years, we took a fulfillment center footprint that we've built over 25 years and doubled it in just a couple of years. And then we,

Alphabet 4Q'22 Earnings Update

Subscribe Disclosure: I own shares, and Jan 2025 call options of Alphabet More than 6 years ago, I first spoke about Google being an AI-first company -Sundar Pichai (4Q'22 Earnings Call) Given the hype of AI and speculation of AI being potentially Achilles heel of Google Search and

Meta 4Q'22 Earnings Update

Subscribe Disclosure: I own shares, and Jan 2025 call options of Meta What a difference three months makes! Meta stock almost doubled from late October to today! 2023 is suddenly the "Year of Efficiency"! Zuck's tone was markedly different tonight. Here's my highlights from

Spotify 4Q'22 Earnings Update

Subscribe Disclosure: I own shares of Spotify we're in a better position competitively than we've been in many, many years. For throughout the existence of Spotify, we have always heard of competitors, and it was always the sort of big scary wolf, whether it was Apple

Management Compensation and Incentives at Big Tech

Subscribe Note: I appeared on Liberty's Highlights podcast to discuss this topic. It may be better to listen to the podcast since it is done after writing this post below, so I could add more context to it, especially after further discussion and feedback from readers. I was