Paul Graham
We've reached peak crypto hype when even weight machines use pictures of Brian Armstrong in their instructions. I like Brian a lot, but this is verging on a cult of personality. https://t.co/hEouh1MSOS
tweet

Special Situations 🌐 Research Newsletter (Jay)
Expected $RBLX; videogames = pandemic beneficiaries:
-DROPS 10% ON 2Q BOOKINGS MISS
-Roblox GAAP EPS of -$0.30 misses by $0.05, bookings of $639.9M beats by $13.68M
-Bookings of $639.9M (-3.8% Y/Y) beats by $13.68M
Rev of $591.2M+30% Y/Y
-Bookings per DAU was $12.25, down 21% Y/Y
tweet

Taylor Pearson
The Toyota Production System was implemented by Toyota in the 1960s but it wasn't really until the 1970s that it started getting traction.

What happened in the 1970s that spurred Toyota to the largest car manufacturer in the world?

Oil Crisis + Stagflation https://t.co/xJjyjdLd5n
tweet

Special Situations 🌐 Research Newsletter (Jay)
Trade Desk $TTD reported revenue for the 2Q22 that beat the average analyst estimate
-Sees revenue at least $385mn, estimate $382.1mn
-Sees adjusted Ebitda about $140mn, estimate $134.2mn
-Shares Jump 9% After 2Q Revenue Beats Estimate
-3Q Loss Per Share vs EPS 10c
tweet

Special Situations 🌐 Research Newsletter (Jay)
$WMT trying to get streaming on board to compete with $AMZN prime. Walmart subscription service costs $12.95/month. Speaking with $DIS $CMCSA and others...

https://t.co/ZNzAv27JYO
tweet

Morning Brew ☕️
when is it my turn to be "excited to announce" something??

(ft. @pashagrozdov) https://t.co/dKaRSQ0c2i
tweet

Mostly Borrowed Ideas
$META bond issuance size, maturity, and coupons

$2.75 Bn 2027 2.5% Notes
$3 Bn 2032 3.85% Notes
$2.75 Bn 2052 4.45% Notes
$1.5 Bn 2062 4.65% Notes

I really hope 2062 bondholders get their principal back!
tweet

Special Situations 🌐 Research Newsletter (Jay)
$SG Sweetgreen Plunges 21% After Cutting Annual Revenue Forecast
-Overvalued salad cos don't do well in a recession
-Sees rev $480mn-$500mn, saw $515mn to $535mn, est $529.8mn
-Sees same store sales growth +13% to +19%, saw +20% to +26
-Loss per share 36c, estimate loss/shr 30c
tweet

Special Situations 🌐 Research Newsletter (Jay)
Nextdoor $KIND told shareholders that its advertisers are tightening budgets, “a reflection of rising macro uncertainty, inflation & labor shortages,” according to its SH letter. Real estate, retail and fast-food are among the sectors pulling back advertising spending, it added.
tweet

Special Situations 🌐 Research Newsletter (Jay)
Another miss for Playboy $PLBY, down >8% after-hours:
-Net revenue $65.4mn , est $70.9mn
- Net loss $8.32mn, -6.7% y/y, est loss $6.57mn
-Adjusted Ebitda loss $2.57mn vs. profit $5.88mn y/y, est profit $1.04mn
tweet

Morning Brew ☕️
When you randomly open your untouched Venmo account and see you were gifted $15 https://t.co/n8jiWocO8t
tweet

Tren Griffin
Was this software the first application bundle offered by Microsoft? https://t.co/r3adaRfLRv
tweet

Meb Faber
cc all my PE and VC friends.

https://t.co/nh7C5HbZhY

half VC and half trend would be a real baller portfolio. anybody on the planet do that? (no).

a few do half equity and half trend...we do half trend and half global asset allocation... https://t.co/DKYXAlDZJx
Talked about this a lot over the years...despite being nearly identical in theory, and nearly opposite in correlation and returns, I don't know any PE/VC guys that are big on trend following...

via @AQRCapital "Trend-Following and Private Equity: Natural Complements?" https://t.co/A9za3rTESt - Meb Faber
tweet