Mike
2.2K posts
Mike
@NonGaap
Mostly tweet about investing, governance, strategy, board dynamics, & random equity research topics. DM open..
Laguna Beach, CA Katılım Ağustos 2011
1.6K Takip Edilen36.4K Takipçiler
@NonGaap Are you on Bluesky? Popping by Twitter occasionally to unfollow folks and see if they are elsewhere. No offense.
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1. Reject drone deal.
2. Back a new drone company that acquires the drone tech to sell to the US military.
3. Profit.
Jim VandeHei@JimVandeHei
🚨🚨EXCLUSIVE-> U.S. officials admit biggest miscalculation of Iran war -planning. @axios obtained the secret Ukraine drone deal Trump Admin rejected - and now regrets⬇️ axios.com/2026/03/10/us-…
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Is this why the pentagon is hiring an army of investment bankers?
Variety@Variety
Secretary of Defense Pete Hegseth is rooting for Paramount to close its $111 billion deal to acquire CNN parent company Warner Bros. Discovery. “The sooner David Ellison takes over that network, the better.” variety.com/2026/tv/news/h…
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@CapitalObserver Wouldn’t surprise me if we see “AltmanVista” and/or “AskClaude” titled short reports after these companies go public.
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In the early days of the internet there were a half dozen search engines. All ended up being poor investments. The winner ended up being Google which didn't even exist at the time. Yet, so many think they know who will win in AI
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There's some really sticky software with big customer bases trading at, like 3x revenue (I know, I know), where you kinda have to believe management are some of the dumbest people alive for these stocks to not work
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Mike retweetledi
Feels like they’re laying the legal groundwork for Europe to use/threaten Magnitsky Act sanctions in the future.
unusual_whales@unusual_whales
BREAKING: Millions of files related to Jeffrey Epstein suggest the existence of a 'global criminal enterprise' that carried out acts meeting the legal threshold of crimes against humanity, a panel of independent experts appointed by the UN Human Rights Council has said
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Bezos: "We humans are not really truth-seeking animals. We are social animals...take you back in time 10,000 years and you're in a small village. If you go along to get along, you can survive. You can procreate. If you're the village truth teller, you might get clubbed to death in the middle of the night."
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The unearned market cap hurdles get an upward adjustment for purchase price, but he'd benefit if the market ascribes excess value to deal price.
Basically, there's big $$ incentive to merge at price that generates an "IPO pop" type outcome and he's negotiating with himself so...
tae kim@firstadopter
If Elon merges SpaceX into Tesla does he get credit for hitting the overall market cap targets in his new Tesla comp plan?
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Indicted $RICK CEO resigns, but will continue to serve on the Board, be employed, and maintain his comp & vesting.
Notably, he still personally guarantees all of the company's commercial bank debt (~$137m) so I wonder if a "real" resignation is even possible due to triggering non-monetary covenants, etc.
Donut Shorts@DonutShorts
A week ago, a senator's son was bought out of his ~10% position in $RICK at a 50% premium to the market. Today, the CEO and CFO resigned. Jay Clayton, @SDNYnews , whatcha got?
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Governance research in a nutshell:
"You give a smart analyst a system, his fiduciary duty to his wallet is to hack it."
Management can behave similarly w hacking incentives to their favor. Find a few who have a terrible poker face when trembling w greed, and you're good to go.
Alix Pasquet@alixpasquet
Every PM is hackable. It’s normal, you give a smart analyst a system, his fiduciary duty to his wallet is to hack it. Fun story: at one of the Cubbies in the early aughts, an analyst there figured out that whenever someone pitched an idea to the PM, the PM would look at the holders’ list and if Steve Mandel was on it, the idea would get in the book immediately. So what does the analyst do? Dry humps Lone Pine’s 13fs, gets his hands on their letters and exposure reports and only works on ideas that Steve is long. Kid is eventually 30% + of long exposure.
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@DownSideCapped It’s “real” to the extent a non-binding proposal can be. I’d say both the offer and potential securities violations are both influenced/informed by the margin call issue. They’re connected.
Even if special committee wants to approve, these decisions/factors complicate the eval.
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@DownSideCapped Any idea how he's calculating $200m?
Doesn't seem to foot with the disclosures.
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