Travis Hoium

So you combine those two companies and you get a maybe more reasonably valued company when it's all said and done.

You could look at it the same way with something like Atlassian if this deal does go through.

Anthropic is not cash flow positive.

Atlassian is.

If you look at their market cap, currently $24 billion.

Let's say they have to pay a bit of a premium.

They sell for $30 billion.

You're also bringing in $1.2 billion worth of free cash flow.

You're acquiring customers.

You're acquiring data and you're acquiring a business that's actually generating cash.

You combine your cash losses with their free cash flow.

Maybe you have a little bit less cash needs and all it costs you was, you know, a fraction of the shares that you have outstanding.

So that's where it could potentially make sense both strategically and, you know, within this financial game that all these companies are playing.

I think you could easily make a case for Apple that was in, you know, about a decade ago, they started building that position.

See's Candy has a lot of attention, especially in their sort of lore.

I look back at Nebraska Furniture Mart and we don't know exactly what is historically true and what's the legend of Buffett and building Berkshire Hathaway.

But I read that he didn't even do due diligence on the acquisition because he trusted Rose Blumpkin so much.

She was the one that started and ran Nebraska Furniture Mart, bought about a 90% stake in the company for $60 million.

That was a company doing $100 million worth of sales.

Reportedly, the business is doing about $1.6 billion in sales today.