MBI Deep Dives (Page 3)

Latest Posts

Some Notes from Spotify's 2026 Investor Day

Spotify held its third Investor Day in May, eight years after the 2018 debut that asked whether it could win against the big tech walled gardens with their own music streaming offerings, and four years after the 2022 edition that asked whether it could ever be a real business with

On Father’s Day

Programming Note: As a reminder, every Sunday, I write pieces that are predominantly based on personal experiences which may or may not be loosely connected with investing. If you are reading MBI Deep Dives everyday, I think it would be rather useful for my readers to understand my personal lens

Airbnb's Fintech Opportunity

Airbnb first launched its guest travel insurance product in 2022. Then in 4Q’22 call, Brian Chesky mentioned that the guest insurance product was available in 8 countries and the product had been “really, really successful”. However, Airbnb didn’t quite provide much detail about the product’s trajectory until

Shopify at the E-com OS Layer

Shopify shipped its Spring ’26 Edition this week with 150+ updates. Given the plethora of updates, thankfully Eric Seufert had Venkat Prabhu (Director of Product for Shop Campaigns at Shopify) on the Mobile Dev Memo podcast to discuss the key highlights of Shopify’s recent product updates. One such highlight

What's Embedded in OpenAI's Stock Price?

OpenAI is still a private company. They have recently submitted a “confidential S-1”, so we don’t know their financials for certain. However, Financial Times (and Ed Zitron) both recently claimed that they have come across OpenAI’s actual financials. Based on this report, I did an exercise to

Airbnb's Incentives

On X, I often come across some version of a stock performance chart showing how Airbnb has performed since its IPO which has been largely flat for more than five years now! It looks particularly unflattering when you compare and contrast to its closest peer: Booking Holdings. Generally speaking, these

Owning the Hill

Satya Nadella spent part of last weekend writing a think piece on X titled “A frontier without an ecosystem is not stable”. I mostly nodded along while reading the piece, but there was also a lot of cynicism from many corners about his prescription of not mortgaging your IP to

Meta's Myriad Questions

A couple of days ago, “SouthernValue” tagged me in the below tweet: Can we get a @borrowed_ideas and @evrgn11112231 podcast or spaces to discuss $META state of affairs? New regulation, AI model delays, internal chaos, tokenmaxxing then unmaxxing, agentic business prospects, Neocloud prospects (and willingness / timing) … lots to discuss.

The Geography of Time

Programming Note: As a reminder, every Sunday, I write pieces that are predominantly based on personal experiences which may or may not be loosely connected with investing. If you are reading MBI Deep Dives everyday, I think it would be rather useful for my readers to understand my personal lens

Adobe's Continued Deceleration

If you’re on X (formerly known as “twitter”), you may be under the impression that Adobe’s growth has accelerated in FY 2Q’26 as I noticed quite a few posts mentioning how total ARR has finally accelerated last quarter. Unfortunately, Adobe’s ARR included $480 million from the