The Transcript
$LYFT CEO: Lyft Ads scaled from concept to $100M exit run-rate in just two years.

“Lyft Ads, 2 years ago, when we were doing Investor Day, it was an idea. It was an early concept. Now we've done exactly what we said we wanted to do, which is reach $100 million run rate exit rate from Q4.”
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Javier Blas
Words matter:

(Quick count of IEA executive director Fatih Birol's opening remarks at the agency's biennial ministerial meeting in Paris today)

Security: 11
Nuclear: 8
Oil: 6
Gas: 6
Hydro: 4
Afordable / afordability: 4
Solar: 3
Wind: 2
Geothermal: 2
Climate: 2
Net zero: 0

IEA executive director Fatih Birol proposes focusing the agency's work in three areas during the next few years:

1) energy security -- "first and foremost" mission
2) new energy uptake (wind, solar, geothermal, nuclear)
3) afordability of energy

"IEA 3.0" may well be over. - Javier Blas
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NecoKronos
🚨 LIVE session starting in 5min !

For everyone thats wondering what is happening on the #BTC chart or where the price might go for this week join in ❣️

https://t.co/6An5agObXy
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Fiscal.ai
Intuit is now in its largest drawdown ever.

$INTU https://t.co/YqRZZWZAEE
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Quiver Quantitative
This is wild.

Hecla stock has now risen 295% since we posted this report.

Up another 5% today. https://t.co/LnvO4vT3Rk
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Brady Long
RT @thisguyknowsai: BREAKING: McKinsey charges $500K for market research Claude does in 4 minutes.

I reverse-engineered how their analysts actually prompt it.

Here are the 12 prompts they use that nobody talks about: 👇 https://t.co/gIzFCljh8X
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The Few Bets That Matter
The problem with investors on this platform is that they all start from the premise that their bull thesis is right and just needs more time.

What if... You were wrong?

https://t.co/o8eurocwwU - The Few Bets That Matter
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The Few Bets That Matter
Investing is unforgiving. One small mistake can be very costly, and there’s no way back.

$NBIS might be that mistake for me this year.

This isn’t hindsight bias. I said the very next day that selling was a mistake as the stock didn't break my conditions to hold. Sentiment took over and I took a decision I shouldn’t have.

That’s all it takes.

The last week and a half cost me a few salaries in unrealized P&L. One emotinal afternoon cost me months of work.

I’m not here to complain. I’m here to be transparent, to illustrate how critical systems - and respecting them, really are.

Your system exists to protect you from yourself.

Ideas, opinions, convictions can make money. But they can't regularly outperform. Over time, convictions turn into bias, and bias costs.

Systems only can compound over decades. And the single most important rule is simple: don’t break it.

I broke mine. Now I have to work on fixing that.
Mistakes are opportunities to improve.

Few $NBIS notes after this quarter.
I'll be the bear, once more.

I continue to believe the market will punish the stock - or not reward it as much as many expect.

Not because the company isn’t excellent, but because it did not reward $GOOG, so why would it reward $NBIS for the same behavior?

Fundamentally, everyone will be bullish. Demand is through the roof, compute was sold out, management is planning to build more sites, etc...

Everything FinX wants to see.

From a market perspective, Q4 CapEx slowed down, guidance talks about ~20% increase of contracted power for FY26 without news on connected power, except for the upgrade from 7 sites to 16 sites.

This means FY26 CapEx will accelerate - just like for everyone else, and won't slow down FY27 as contracted power continues to climb.

More spending. Which was punished across all hyperscalers.

Also note that ARR guidance wasn’t increased, meaning no beat expected hence nothing above expectations and no buildouts closing faster than expected.

Some will say "why would you want more? It doesn't matter, they are executing at their pace"

I disagree. Acceleration is everything, otherwise you'll miss on expectations just like they did.

That revenue miss is due to real-world constraints, as I’ve shared yesterday and for months: you cannot build faster than physics and logistics allow you to.

The issue is that growth factually slows/doesn't accelerate. Growth stocks work on acceleration not stable growth.

The why doesn’t matter, even if you’re supply constrained.

Growth slows, CapEx increases, cash generation decreases, and there are no certainties that demand won’t be fulfilled by other hyperscalers by the time infrastructure is built.

Like many of you, I believe there will be demand and everything will be fine. But today, you cannot know. You can bet on it, but you cannot know.

That is the issue. And that is why the market might react like it did for $GOOG.

I continue to believe the company is excellent and its future is bright. And that the stock won’t be rewarded as much as many expect in the short term.

I’d love to be wrong. - The Few Bets That Matter
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Dimitry Nakhla | Babylon Capital®
RT @DimitryNakhla: Reminder that AWS + ADS are running at ~$227B annualized revenue based on the latest quarter, with operating margins above 35%.

Assuming 35% operating margins → ~$79.45B in operating income.

Apply a 25x multiple (arguably conservative for a business growing 20% with those margins) → ~$1.98T valuation.

That nearly supports $AMZN entire market cap today.
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God of Prompt
RT @godofprompt: Perplexity is terrifyingly good at competitive intelligence.

If you use these 10 prompts, you’ll see why:

(Bookmark this thread for later) https://t.co/iEiiYxTKyp
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The Transcript
$RBLX CEO: "Every day, we capture roughly 30,000 years of human interaction data on Roblox in a PII and privacy compliant way. We're actively using this data to develop and train AI models that continue to bring our vision to life. I want to highlight that we're internally now running over 400 AI models. "
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