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🧵 Deep Dive: Adobe ( $ADBE) One of the biggest SaaS companies in the world by revenue. So why has its stock collapsed over 40% from its 2024 highs? Is the fortress crumbling, or is this the value opportunity the market is missing? We did a deep dive. 🧵👇
2/ The Business Fortress First, understand the machine. $ADBE's empire is built on two pillars, with 95% of its revenue coming from sticky, predictable subscriptions: 1️⃣ Digital Media (74% of revenue): The iconic Creative Cloud (Photoshop, Premiere) & Document Cloud (Acrobat, Sign). This segment alone boasts an $18.1 Billion Annualized Recurring Revenue (ARR). 2️⃣ Digital Experience (25% of revenue): A full enterprise suite for marketing, analytics, and e-commerce.
Viene durísimo el hilo con los mejores disfraces del @CanelaParty 1. Canela Final Boss
2. Cecilia, restauradora
Parin vuoden tauon jälkeen katsaus suomalaisiin osakkeisiin ja niiden arvostuksiin. P/E yksin ei tietenkään kerro koko totuutta. OMXH25 on parissa vuodessa tuottanut ~30 %. S&P500 painellut samalla ajalla ~50 % → jonkinlainen torjuntavoitto sekin. https://t.co/clivdIhLpP 1/X
Melkein kaksi vuotta sitten ketjussa oli sekä hyviä että huonoja huomioita. Ennustaminen on tunnetusti vaikeaa – etenkin tulevaisuuden. Markkinoilla etu syntyy harvoista oivalluksista. Jos kuvittelee omaavansa sen joka osakkeessa, kärsii vakavasta yli-itsevarmuusharhasta. Käytän näissä 12kk eteenpäin katsovaa ennustetta. Siinä on puutteensa (mm. lievä optimismi), mutta mielestäni paras tapa. Kuvaajat ovat siis arvostuksesta, ei osakekurssista.
Donald Trump ~ A Rare Thread 🧵 This thread will blow your mind 1. 34 year old Donald Trump asked if he’d ever run for President
2. Woman screams 'NO' as Donald Trump is sworn in as the 45th President of the United States
Silly “settlers”, you thought that you owned your homes? A British Columbia judge just decided that you don’t. Aboriginal title has been declared over private property in Richmond. Are you awake yet? 1/
The case was brought by the Cowichan Tribes to claim title over fee simple lands within Richmond. This one case cost many millions of dollars. Dozens of lawyers took up over 500 days of court time. 2/
OpenAI has historically scaled up training compute by around 100x with each new generation of its GPT. However, GPT-5 appears to be an exception to this trend. 🧵
GPT-4 was trained on 2e25 floating-point operations, and OpenAI said GPT-4.5 was about an order-of-magnitude (10x) scale-up. We don’t have a rigorous estimate yet, but GPT-5’s compute scale may be *between* GPT-4 and GPT-4.5, and it is probably not a large scale-up from 4.5.