Lululemon's Succession

Regular readers are likely aware that I have lost my shirt by investing in Lululemon. To add further salt to my injury, the stock started going up a bit only after I sold it. Joking (or lamenting) aside, Lulu’s board came to the same conclusion I did three months

Adobe and Figma's Divergent Path

The last time I covered Adobe’s earnings was back in 2Q’23. In that update, I explained why I decided to sell the stock. In retrospect, that was perhaps one of my well-timed exits so far. But has the market been punishing Adobe too much? I wouldn’t focus

The "Edge AI" Bear Case

On “Invest Like The Best” podcast yesterday, Gavin Baker mentioned the following: “In three years, on a bigger phone, you’ll be able to run a pruned-down version of Gemini 5, Grok 4, or ChatGPT. And that’s free. This is clearly Apple’s strategy - we’re going to

Waymo's Surge

In May 2023, Waymo was doing just 10k commercial public rides per week. Then exactly a year ago, Sundar Pichai disclosed Waymo was doing 175k rides per week. Yesterday, this tweet indicated weekly number of rides has now shot to 450k, growing 157% YoY! Of course, Waymo is still only

Music's AI Mess: Part 2

Just as I have highlighted in Music’s AI Mess, people seem to find it very hard to differentiate between AI-generated music and human-made music. Deezer/Ipsos recently did a survey in which they asked people to listen to three tracks and determine whether or not they were fully AI-generated.

Dollar Store Earnings 3Q'25

We have all heard about the “K-shaped” economy, and looking at how dollar stores’ stocks i.e. Dollar Tree (DLTR), and Dollar General (DG) fared so far this year certainly seems to give credence to such theory. Nonetheless, it is important to contextualize the current year performance as these stocks

My experience on Airbnb Experience: Part 2

My first Airbnb Experience can be found here. One of the benefits of living in Sacramento is it’s just two hours driving distance from both San Francisco and Lake Tahoe. You can basically organize a day trip to see mountains, beach, or forest and you only have to pay

Reader's feedback on "The Great Abstraction"

A couple of days ago, I wrote a piece titled “The Great Abstraction?”, highlighting the impending tension between OS-layer agent and the entire corpus of companies operating in the app layer. Catapult Capital had some constructive thoughts on that piece which I think is worth highlighting. So, I am sharing

Understanding AWS Graviton Playbook

I was watching AWS Re-invent Keynote yesterday, and one of the things that stood out to me was the below quote: “For the third year in a row, more than half of the CPU capacity that we’ve added to the AWS cloud comes from Graviton” While this isn’t

The Great Abstraction?

Last week in my Solving the “DoorDash Problem piece, I mentioned the following excerpt between Nilay Patel from The Verge and Uber CEO Dara Khosrowshahi: Nilay Patel: So, I come to you and I say, “I want to be able to get cars from Uber.” What is the percentage toll?