Topic

Portfolio_Change

A collection of 46 issues

Notes from a Dasher Shift, and the Drone Delivery Future

Programming Note: I will take a day off tomorrow, and will be back with daily posting schedule on Friday. DoorDash has a program called “WeDash” which requires its employees do delivery shifts every year. While they have no such requirement for shareholders, I decided to sign up as a Dasher

Airbnb Model Update (2026)

The last time I shared my updated Airbnb model was October 2025. As the stock has gone up ~50% since then, investors need to re-underwrite the assumptions today. As promised last week, I am going to share my updated model and lay out what you need to believe to

Why DoorDash’s Autonomous Strategy Beats Uber’s Hodgepodge

Uber’s decision to divest its stake in Serve, the autonomous delivery robot company that was spun out of Uber in 2021, was more interesting than it may appear at first glance. When I looked into it, I came to realize that Serve is actually a publicly listed company now.

Why I am going to utilize options more to manage my portfolio

Back in 2021, I once responded to someone on X (formerly twitter) why I didn’t want to engage in trading options. While that choice sounded “wise” to me, reality hit me in 2022. As you can see here, I came to 2022 with a significant exposure to big tech

License to Chase the AI Frontier

While looking at Artificial Analysis Intelligence Index, I was quite struck by what they all have in common. The top model developers except one all have one thing in common: they are all currently founder-led companies. Alphabet is the sole exception. But even in Alphabet’s case, the company

DoorDash 2Q'26: Growth Beyond the Restaurant

DoorDash had a fine quarter with total orders growing ~27% YoY (~17% ex Deliveroo) and marketplace Gross Order Value (GOV) growing ~36% YoY (~23% ex Deliveroo). More importantly, GOV in US restaurant category slightly accelerated in 2Q’26 primarily due to DashPass membership. Speaking of DashPass, management shared some interesting

Amazon 2Q'26: AWS Gets the Love

In 1Q’26 earnings coverage of Amazon, I mentioned AWS would likely grow by ~35% in 2Q’26. AWS did slightly better than that as it grew by ~37%! For a $169 Billion run-rate business, AWS growth certainly seems mind boggling. I will talk more about AWS later, but

Tesla and SpaceX's Likely Merger, Portfolio Change

During Tesla’s earnings call on Wednesday this week, there was a very interesting discussion on the topic of whether SpaceX and Tesla will eventually be merged. When the analyst asked the question, I’m not even sure he was expecting an answer that almost confirms that such a merger

Meta On the Offense!

This week has turned out to be a plethora of model launches with SpaceX releasing Grok 4.5 on Wednesday, and Meta and OpenAI releasing Muse Spark 1.1 and GPT-5.6 yesterday. While Meta has been on the news almost on a daily basis these days with admittedly

Veeva 1Q'26: Strong Present, Patient Future

Programming Note: Some of you may have missed my announcement in my last post that I would be taking a couple of weeks break and reached out to see if everything is okay. Thank you for your concern, and I am back to daily posting schedule. Just a small note