Brad Gerstner

I mean, as you said, there's stuff moving all over the place. Like you have a leader in their field, unquestionably, huge revenue growth. Their business model isn't fully unpacked because the CapEx is invested so far ahead of the product. So you can't look at the income statement and say, oh, the unit economics are perfect.

I mean, as you said, there's stuff moving all over the place. Like you have a leader in their field, unquestionably, huge revenue growth. Their business model isn't fully unpacked because the CapEx is invested so far ahead of the product. So you can't look at the income statement and say, oh, the unit economics are perfect.

I mean, as you said, there's stuff moving all over the place. Like you have a leader in their field, unquestionably, huge revenue growth. Their business model isn't fully unpacked because the CapEx is invested so far ahead of the product. So you can't look at the income statement and say, oh, the unit economics are perfect.

And there's questions about what is the appropriate depreciation schedule and all these things. But I am glad that they got out and I'm glad that it's done fine. They've had basically two customer announcements since they went out, which shows how fast this AI world moves. And I think that's why the stock went from 40 to 36 and way back up above that now.

And there's questions about what is the appropriate depreciation schedule and all these things. But I am glad that they got out and I'm glad that it's done fine. They've had basically two customer announcements since they went out, which shows how fast this AI world moves. And I think that's why the stock went from 40 to 36 and way back up above that now.

And there's questions about what is the appropriate depreciation schedule and all these things. But I am glad that they got out and I'm glad that it's done fine. They've had basically two customer announcements since they went out, which shows how fast this AI world moves. And I think that's why the stock went from 40 to 36 and way back up above that now.

Let's hope that it brings more IPOs to the table. This company needed capital because it's a capital intensive business. And those are the ones that tend to come to the markets eventually no matter what. We have this offsetting reality The stripes of the world and Databricks and others are choosing to delay being public and have massive access to private capital.

Let's hope that it brings more IPOs to the table. This company needed capital because it's a capital intensive business. And those are the ones that tend to come to the markets eventually no matter what. We have this offsetting reality The stripes of the world and Databricks and others are choosing to delay being public and have massive access to private capital.

Let's hope that it brings more IPOs to the table. This company needed capital because it's a capital intensive business. And those are the ones that tend to come to the markets eventually no matter what. We have this offsetting reality The stripes of the world and Databricks and others are choosing to delay being public and have massive access to private capital.

And maybe that's a discussion for another day. But there are a few others, Klarna's in the pipeline. We've talked about Cerebrus being in the pipeline. And so I'm always hopeful. I'm always kind of... Just wanting for there to be more companies that are willing to move into the public markets. But the offset of what we talked about at the beginning is going to be there.

And maybe that's a discussion for another day. But there are a few others, Klarna's in the pipeline. We've talked about Cerebrus being in the pipeline. And so I'm always hopeful. I'm always kind of... Just wanting for there to be more companies that are willing to move into the public markets. But the offset of what we talked about at the beginning is going to be there.

And maybe that's a discussion for another day. But there are a few others, Klarna's in the pipeline. We've talked about Cerebrus being in the pipeline. And so I'm always hopeful. I'm always kind of... Just wanting for there to be more companies that are willing to move into the public markets. But the offset of what we talked about at the beginning is going to be there.

And so we'll see how those things interact with a choppy market.

And so we'll see how those things interact with a choppy market.

And so we'll see how those things interact with a choppy market.

He was a little more aggressive than that. Okay, so say it. He called himself the chief revenue destroyer and basically made statements that I think if you interpreted accurately would imply that maybe you should have a two-year depreciation, not a six. He made it sound that way. It's very abrupt. And he took a lot of heat and he probably wishes he hadn't said it, but he said it.

He was a little more aggressive than that. Okay, so say it. He called himself the chief revenue destroyer and basically made statements that I think if you interpreted accurately would imply that maybe you should have a two-year depreciation, not a six. He made it sound that way. It's very abrupt. And he took a lot of heat and he probably wishes he hadn't said it, but he said it.

He was a little more aggressive than that. Okay, so say it. He called himself the chief revenue destroyer and basically made statements that I think if you interpreted accurately would imply that maybe you should have a two-year depreciation, not a six. He made it sound that way. It's very abrupt. And he took a lot of heat and he probably wishes he hadn't said it, but he said it.

But look, the pushback on that is obviously that it's not a zero or one. Like you make it sound like it's binary, you either throw it away or it's super valuable. And what inevitably happens is the earning power of that product drops over time. And so there is, I think, a reasonable question, you know, should it be more of like an accelerated depreciation schedule?

But look, the pushback on that is obviously that it's not a zero or one. Like you make it sound like it's binary, you either throw it away or it's super valuable. And what inevitably happens is the earning power of that product drops over time. And so there is, I think, a reasonable question, you know, should it be more of like an accelerated depreciation schedule?