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Tyler Technologies: Selling Software to the Government
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My friend Liberty once mentioned to me that if someone reads William Thorndike’s “The Outsiders”, they should also read Phil Rosenzweig’s “The Halo Effect”. Reading just either, instead of both, of them may run the risk of creating lopsided
Amazon 1Q'23 Earnings Update
Disclosure: I own shares, and Jan 2025 call options of Amazon
An Analyst asked a legitimate question to Amazon management:
“Does the company ever think about breaking out all the big investments so that we have more clarity on the retail margin structure?”
Andy Jassy provided a word salad in
Meta 1Q'23 Earnings Update
Disclosure: I own shares, and Jan 2025 call options of Meta
“There are two major technological waves driving our road map: a huge AI wave today, and a building metaverse wave for the future.”
Mark Zuckerberg (1Q’23 Earnings Call)
Here are my notes from tonight’s earnings.
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Alphabet 1Q'23 Earnings Update
Disclosure: I own shares, and Jan 2025 call options of Alphabet
Google Search is still growing, but YouTube ads was down YoY for three consecutive quarters now.
Thankfully, Google Cloud maintained the momentum with +28% topline growth.
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The big news in this quarter is Google Cloud became profitable for
Spotify 1Q'23 Earnings Update
Disclosure: I own shares of Spotify
Over the last 6 months, Spotify stock has doubled. The business, however, remains largely work-in-progress with users accelerating but operating efficiency yet to reflect in the financials.
Here are my notes from today’s earnings.
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Spotify experienced its largest two MAU growth
Microsoft: The Quintessential Technology Company
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“The personal computer revolution had begun with a game played on a small blue box with blinking lights named after the brightest star in the constellation. 30 years earlier, people in Albuquerque had witnessed the sun come up in the South
Readers' Feedback, and A Simpler Amazon Model
Disclosure: I own shares and January 2025 call options of Amazon
There has been a persistent misperception among investors who mostly observe Big Tech from a distance that Big Tech is "consensus" investment. But if you look at realized volatility in some of the Big Tech stocks over the last
Amazon Update (amended)
Disclosure: I own shares and January 2025 call options of Amazon
(Note: In addition to this piece, I encourage you to read this update here)
First of all, thank you for the feedback and inputs on yesterday’s update on Amazon. One such interaction led me today to re-write some
Amazon Update
Disclosure: I own shares and January 2025 call options of Amazon
(Note: there are some material changes that I made after receiving feedback which I published here. I encourage you to read the amended post to understand the full context)
In the first earnings press release following the pandemic, Jeff
Adobe 1Q'23 Update
Disclosure: I am long shares of Adobe
In 2001 and 2002, Adobe's topline went down 3% and 5% respectively. In 2009, revenue went down by 18%!
Thanks to shift to subscription and a continued secular momentum in digital content, Adobe will perhaps prove to be a quite resilient business in