Google Cloud run rate revenues nearly doubled over the past two years
Microsoft update tomorrow morning at TSOH Investment Research
As always, includes prior disclosure of any proposed portfolio changes
Match Group Total Payers, YoY Change $MTCH
Microsoft Cloud TTM Gross Margins
Meta update tomorrow morning at TSOH Investment Research
In Zuck We Trust?
Meta Q4 FY25 Update
At the low tick in November 2022, Meta had an enterprise value of ~$200 billion. It was trading at less than 2x FY25 EBIT for the core business (FOA).
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That’s pretty damn strong, I admit! The experience is garbage though and it just feels like yesterday. I’m a sell, but could be wrong.
Let’s check back in another decade from now.
One thing is certain: can't grow DAU's at mid-singles p.a. in perpetuity!
Today’s TSOH Investment Research
“Meta: In Zuck We Trust?”
thescienceofhitting.com/p/in-zuck-we...In Zuck We Trust?
Meta Q4 FY25 Update
Updated list of TSOH Investment Research for the past six months
If you slice it long term I think it’s over valued. Nobody liked the product so it’s user base will erode. Not seeing a compelling AI use case for social media properties that Meta owns. Already burned on metaverse so trust in mgmt is low.
Have been hearing the user base erosion thesis for nearly a decade now...
