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Crowd intelligence is a very powerful thing.
Some great examples are the $PLTR, $HIMS and $TSLA communities.
Which stock should have more crowd coverage? https://t.co/YbO4amsMwV
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Crowd intelligence is a very powerful thing.
Some great examples are the $PLTR, $HIMS and $TSLA communities.
Which stock should have more crowd coverage? https://t.co/YbO4amsMwV
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Wall St Engine
ADDING MORE COLOR FROM TODAY’S TESTIMONY IN THE US V $GOOGL TRIAL
Apple’s Eddy Cue, testifying in the U.S. vs. Google antitrust trial, said, “Google is still the best today” when asked why Safari hasn’t switched to Bing. Cue confirmed Apple is exploring AI search options after Safari searches dropped for the first time in 20 years: “It’s because people are using ChatGPT. They’re using Perplexity.” He added Apple has started talks with both, saying, “I certainly would expect that over the coming year that we will add other choices to the search engine choice in the browser.”
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ADDING MORE COLOR FROM TODAY’S TESTIMONY IN THE US V $GOOGL TRIAL
Apple’s Eddy Cue, testifying in the U.S. vs. Google antitrust trial, said, “Google is still the best today” when asked why Safari hasn’t switched to Bing. Cue confirmed Apple is exploring AI search options after Safari searches dropped for the first time in 20 years: “It’s because people are using ChatGPT. They’re using Perplexity.” He added Apple has started talks with both, saying, “I certainly would expect that over the coming year that we will add other choices to the search engine choice in the browser.”
$AAPL'S CUE SAYS SAFARI SEARCHES DECLINED FOR THE FIRST TIME IN APRIL — ADMITS HE'S "LOST SLEEP" OVER POTENTIAL HIT TO REVENUE SHARING DEALS. tweet
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Wall St Engine
BMO Capital Reiterates Outperform on $NFLX, PT $1,200; 'Management mentioned in April 2025 that it is leaning into mainstream, established titles, including GTA'
Analyst comments: "Netflix is rolling out a new global TV experience focused on 1) improved discovery powered by AI for both TV and mobile, 2) a conversational interface to enhance content discovery, and 3) a design revamp featuring a more natural aesthetic. These updates are expected to reduce churn, boost engagement, and support stronger ad monetization. Netflix's UI innovations and ad stack remain underappreciated by investors, in our view.
Netflix will report its 1H25 engagement metrics alongside 2Q25 earnings in July. Meanwhile, the platform continues to localize content across 50+ markets, which we believe will help offset any potential impacts from a proposed tariff on internationally produced films, as mentioned by President Trump. Engagement and pricing power are expected to remain strong.
Looking ahead to the May 14 Upfront, we anticipate updates on ad-supported tier adoption and advertiser interest in formats such as lower funnel QR codes. We model ~4.5–5x ads/hour/person by year-end 2025, rising to ~6x in 2026. Gaming remains a long-term opportunity, with Netflix aiming to better integrate shows, movies, and games. Notably, management indicated in April 2025 that it is leaning into mainstream titles, including GTA, which released its promo trailer ahead of its scheduled May 26, 2026 launch."
Analyst: Brian J. Pitz
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BMO Capital Reiterates Outperform on $NFLX, PT $1,200; 'Management mentioned in April 2025 that it is leaning into mainstream, established titles, including GTA'
Analyst comments: "Netflix is rolling out a new global TV experience focused on 1) improved discovery powered by AI for both TV and mobile, 2) a conversational interface to enhance content discovery, and 3) a design revamp featuring a more natural aesthetic. These updates are expected to reduce churn, boost engagement, and support stronger ad monetization. Netflix's UI innovations and ad stack remain underappreciated by investors, in our view.
Netflix will report its 1H25 engagement metrics alongside 2Q25 earnings in July. Meanwhile, the platform continues to localize content across 50+ markets, which we believe will help offset any potential impacts from a proposed tariff on internationally produced films, as mentioned by President Trump. Engagement and pricing power are expected to remain strong.
Looking ahead to the May 14 Upfront, we anticipate updates on ad-supported tier adoption and advertiser interest in formats such as lower funnel QR codes. We model ~4.5–5x ads/hour/person by year-end 2025, rising to ~6x in 2026. Gaming remains a long-term opportunity, with Netflix aiming to better integrate shows, movies, and games. Notably, management indicated in April 2025 that it is leaning into mainstream titles, including GTA, which released its promo trailer ahead of its scheduled May 26, 2026 launch."
Analyst: Brian J. Pitz
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The All-In Podcast
RT @theallinpod: Google has a Gemini Problem, and Chamath has a plan to fix it 📈
On E225, the besties discussed how Google can cut ChatGPT's lead over Gemini without killing its $200B/year search ads business.
@DavidSacks:
"I think the problem that Google has with respect to ChatGPT, is Gemini is not getting the usage, and ChatGPT is just growing like crazy."
"If you look at how these models perform according to the benchmarks, Gemini is actually really good, but they have not caught up on the usage side."
@friedberg:
"Chamath, you're the CEO of Google, you've got a $200B run rate search ad business."
"What's the right integration of Gemini such that you don't massively disrupt the search ad business overnight?"
"Or do you not care and you're just gonna do it? I think that's the conundrum (Google) is dealing with."
@chamath:
" The more difficult question is, what does the integration look like?"
"They're already inserting Gemini in all kinds of uncomfortable ways."
"So for example, if you use Gmail, or if you use Google Workspace, what happens today is all these random Gemini pop-ups come up all over the place."
"That is an implementation that happened at way too junior a level by people that have no product taste."
"And if you use the products every day, it would be hard for you to disagree with me."
@DavidSacks:
" The Google homepage, would you replace that with an AI chatbot?"
@chamath:
" No. Here's what I would do: I would first go to the critical other points that are around, that today do not cannibalize the blue links."
"If you look at the traffic patterns, almost as a Sankey diagram, the real thing you should be looking at here is where are the entry points into Google that then result in a clickable link."
"And what it would show you is that there are certain places that are highly de-optimized today for revenue generating events."
"They happen as a byproduct, but they don't happen as the use case."
"So in that example, you would put Gmail as a critical place, the Google one subscription, and there's like five or six other places."
"That's where I would put Gemini as the front door and start to habituate 300 to 500 million people a week in using that."
"I think then you can figure out over time how much money you can make from all of that, or how it directs derivative revenue, and figure out what to do with Google dot com last."
"But my point is, the experience in Gmail should be done today."
"The experience in YouTube should be done today."
"The experience in Google one should be done today."
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RT @theallinpod: Google has a Gemini Problem, and Chamath has a plan to fix it 📈
On E225, the besties discussed how Google can cut ChatGPT's lead over Gemini without killing its $200B/year search ads business.
@DavidSacks:
"I think the problem that Google has with respect to ChatGPT, is Gemini is not getting the usage, and ChatGPT is just growing like crazy."
"If you look at how these models perform according to the benchmarks, Gemini is actually really good, but they have not caught up on the usage side."
@friedberg:
"Chamath, you're the CEO of Google, you've got a $200B run rate search ad business."
"What's the right integration of Gemini such that you don't massively disrupt the search ad business overnight?"
"Or do you not care and you're just gonna do it? I think that's the conundrum (Google) is dealing with."
@chamath:
" The more difficult question is, what does the integration look like?"
"They're already inserting Gemini in all kinds of uncomfortable ways."
"So for example, if you use Gmail, or if you use Google Workspace, what happens today is all these random Gemini pop-ups come up all over the place."
"That is an implementation that happened at way too junior a level by people that have no product taste."
"And if you use the products every day, it would be hard for you to disagree with me."
@DavidSacks:
" The Google homepage, would you replace that with an AI chatbot?"
@chamath:
" No. Here's what I would do: I would first go to the critical other points that are around, that today do not cannibalize the blue links."
"If you look at the traffic patterns, almost as a Sankey diagram, the real thing you should be looking at here is where are the entry points into Google that then result in a clickable link."
"And what it would show you is that there are certain places that are highly de-optimized today for revenue generating events."
"They happen as a byproduct, but they don't happen as the use case."
"So in that example, you would put Gmail as a critical place, the Google one subscription, and there's like five or six other places."
"That's where I would put Gemini as the front door and start to habituate 300 to 500 million people a week in using that."
"I think then you can figure out over time how much money you can make from all of that, or how it directs derivative revenue, and figure out what to do with Google dot com last."
"But my point is, the experience in Gmail should be done today."
"The experience in YouTube should be done today."
"The experience in Google one should be done today."
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App Economy Insights
RT @EconomyApp: $AMD AMD Q1 FY25:
• Revenue +36% Y/Y to $7.4B ($320M beat).
• Gross margin 50% (+3pp Y/Y).
• Operating margin 11% (+10pp Y/Y).
• Non-GAAP EPS $0.96 ($0.03).
• Q2 rev. guidance ~$7.4B ($0.2B beat).
Dr. Lisa Su: "Our second quarter outlook highlights the strength of our differentiated product portfolio and consistent execution, positioning us well for strong growth in 2025."
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RT @EconomyApp: $AMD AMD Q1 FY25:
• Revenue +36% Y/Y to $7.4B ($320M beat).
• Gross margin 50% (+3pp Y/Y).
• Operating margin 11% (+10pp Y/Y).
• Non-GAAP EPS $0.96 ($0.03).
• Q2 rev. guidance ~$7.4B ($0.2B beat).
Dr. Lisa Su: "Our second quarter outlook highlights the strength of our differentiated product portfolio and consistent execution, positioning us well for strong growth in 2025."
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Dimitry Nakhla | Babylon Capital®
RT @DimitryNakhla: Pepsi’s $PEP FCF | Dividends Paid🥤
2017: $7.06B | $4.47B (63%)
2018: $6.13B | $4.93B
2019: $5.42B | $5.30B
2020: $6.37B | $5.51B
2021: $6.99B | $5.82B
2022: $5.60B | $6.17B
2023: $7.92B | $6.68B
2024: $7.19B | $7.23B (101%)
Dividends as a % of FCF, not what you want to see 🔔
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RT @DimitryNakhla: Pepsi’s $PEP FCF | Dividends Paid🥤
2017: $7.06B | $4.47B (63%)
2018: $6.13B | $4.93B
2019: $5.42B | $5.30B
2020: $6.37B | $5.51B
2021: $6.99B | $5.82B
2022: $5.60B | $6.17B
2023: $7.92B | $6.68B
2024: $7.19B | $7.23B (101%)
Dividends as a % of FCF, not what you want to see 🔔
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Wall St Engine
FED CHAIR POWELL HOLDS RATES UNCHANGED AT 4.5%, AS EXPECTED https://t.co/bGHnLHSuKJ
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FED CHAIR POWELL HOLDS RATES UNCHANGED AT 4.5%, AS EXPECTED https://t.co/bGHnLHSuKJ
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