George Hahn

We prefer surgical strikes to carpet bombing.

America's economy has become one giant bet on AI, with seven tech companies representing more than a third of the S&P 500.

The concentration of economic power in so few hands renders those businesses uniquely vulnerable to a boycott, as consumers can focus on a short target list.

Big tech's vulnerability is further multiplied by the subscription model, as valuations for subscription companies are typically 8x to 20x revenue.

One example.

In 2022, Netflix reported losing just 200,000 subscribers in a single quarter, and that wiped out $50 billion in market cap overnight.

Netflix attributed the churn to increased competition and the lifting of pandemic restrictions that had kept people in front of their TVs.

Free gift with purchase?

Consumers maximize political impact while minimizing household expenses.

In America, four out of five adults spend nearly $200 per year on unused subscriptions.

I had three HBO Max subscriptions.

Somehow.

Some of you have asked why we are targeting Amazon, my 2026 stock pick.

Others want to know why we didn't target Disney.

A, I'd rather be effective than right.

The companies at ground zero of resist and unsubscribe have an outsized influence over the national economy and our president.

The stocks in the blast zone belong to consumer-facing companies we've identified as active enablers of ICE.

Collectively, ground zero and blast zone businesses don't represent the totality of complicity, but rather the jugular of American authoritarianism.

For a recent example of what happens when consumers deploy their spending power against the jugular of authoritarianism, see Disney's suspension and reinstatement of Jimmy Kimmel.

In the end, it took fewer than 1% of the mouse's total streaming subscribers to accomplish what CEO Bob Iger couldn't, stand up to an authoritarian.