🦬Buffalo Nutbag (sometimes shit) Poster ⭕️

@alt_w_v_g The math is much worse when you factor in no one pays $25.99/month. It's $8.99/month when you call every year to cancel and you get the new promo rate.

Ran some diligence on SiriusXM this weekend Not because anyone asked Because my 14-year-old nephew connected his phone to my car via Bluetooth, played a Spotify playlist, and asked me what the "SXM" button was for I didn't have an answer So I pulled the 10-K SiriusXM is an $8.56B revenue company with nearly $10B in debt and a $7.4B market cap Read that again The debt is larger than the company Their business model, simplified: 1. Pay automakers to install radios nobody asked for 2. Give every new car buyer a free trial they didn't request 3. Hope they forget to cancel 4. Charge them $25.99/month for something their phone does for $10.99 That's it. That's the model. They have 33M subscribers. Sounds impressive until they lost 301,000 self-pay subscribers last year. And hundreds of thousands the year before that. Revenue has declined three consecutive years The average subscriber is 35-64, male, household income over $150K. Over half have been paying for 10+ years. These aren't loyal customers These are people whose spouses haven't noticed the $25.99 charge on the Amex yet The crown jewel of the portfolio is Howard Stern. They pay him roughly $100M a year. He works three days a week. His show averages 125K daily listeners. That's $800 per listener per year My analyst did the math three times because he thought he was wrong He wasn't For that price, you could buy each listener a Spotify family plan, an Audible subscription, and still have enough left for AirPods Speaking of Spotify. Nearly 290M premium subscribers. Growing double digits. $10.99/month. Available on every device ever made. SiriusXM. 33M subscribers. Shrinking. $25.99/month. Requires a satellite. Spotify's full-year revenue grew 19%. SiriusXM's declined 2%. Spotify trades at 74x earnings. SiriusXM trades at 5x. The market is not confused about which direction these businesses are headed Their growth strategy is called the "trial funnel." There are 7.3M people driving cars with free SiriusXM trials. The conversion rate is not publicly disclosed. Probably because it's embarrassing They have 180M "enabled vehicles" in the U.S. They have 33M subscribers. That's an 18% attach rate on hardware they already paid to install. 82% of the cars with their radios in them are generating zero revenue In any other industry an 18% hit rate gets you fired In satellite radio, it gets you a seat on the NYSE Adjusted EBITDA margin is 31%. Looks healthy. Until you realize "adjusted" is doing a LOT of heavy lifting in a company that posted a $2.08B net loss the year prior. Adjusted EBITDA was $2.73B that same year The distance between those two numbers is called addbacks And they're working overtime 2026 guidance: flat revenue, flat EBITDA, slightly fewer subscribers. The CEO called this stability and meaningful progress. On Wall Street, we call this managed decline Warren Buffett owns 35.4% of this company. This is the most confusing part. The man who said "be fearful when others are greedy" bought a satellite radio company in the age of Bluetooth. His entry was a Liberty Media arb play that accidentally became a long-term hold. The stock is down over 50% from its highs. I don't know why he's still in. You don't know why. His shareholders definitely don't know why. The bull thesis: SiriusXM has 33M people who have been paying $15/month for a decade and have no plans to stop. That's $6B in recurring revenue from people who may not even remember they're subscribed. Churn is 1.5%. Lower than most SaaS companies. The bear thesis: Every teenager alive today has never used a car radio Both are probably right SiriusXM's competitive moat is not content. It's not technology. It's not brand. It's the 47 minutes it takes to cancel over the phone SiriusXM isn't a bad company. It's a case study in what happens when your moat is consumer apathy and your growth strategy requires General Motors. Plz fix. Thx. Sent from my iPhone

@JacksonRoper_CO @PrepRedzoneCO 🦬🦬🦬

Grateful to be recognized as the #1 overall player in Colorado. Can’t wait to get back to work… Thank you @PrepRedzoneCO for your continued coverage of Colorado High School Football.

@Matt_Pinner Another 4 years of GOP hell

So what would you call this Presidential Team?

@20th_Centurygal Phish ⭕️⭕️⭕️

Give me a band or artist who's name is one word...one word only, no "The". Let's see how many we can come up with...😊🎶

@abc15 You might as well call it Racist Way

JUST IN: Gov. Katie Hobbs has vetoed a bill that aimed to rename Loop 202 after Charlie Kirk. tinyurl.com/3hk3v783

@jimmy_gable @DudespostingWs Not remotely the same car

@DudespostingWs It’s a replica of a TVR Tuscan MK1 from 2000 built on a 1970s C3 Corvette. Heck, it’s even running 94 C4 Corvette wheels.

This looks like a car from the future, but it was actually built in 1957. He explains it’s a Kellison J5 with a sleek, aerodynamic shell. Incredible design.

@dalvinthetruth I’m good not seeing him anymore. Just saying

This what a nfl left tackle looks like . Idk about that tight end look . Stop playing w my s&c staff

@EmbassyGuyana Send her to CECOT in El Salvador.

Kristi Noem held a meeting with His Excellency President Irfaan Ali and Guyanese government officials to reaffirm the enduring U.S.-Guyana partnership. Their discussions focused on joint efforts to disrupt cartel and transnational criminal activity, strengthen border security, discourage illegal immigration, and promote economic opportunity. Thanks to the Trump Administration's leadership, we are building a safer, more secure, and more prosperous future in our region. Photo Credit: Office of the President

@ottawatim On the beach!

🪿Goosemas 2026 is Atlantic City 🪿

@Jimi_Stella I was at that Alpine 88 show holding a $50 radio shack tape recorder trying tape the show lol. But I had one of the only recordings of Blow Away in the lot that night shitty as it was 😀

Trying to get rid of stuff and opened a box containing hundreds of mostly Grateful Dead ticket stubs Apparently I went to a LOT more Dead shows than I remember 🤣😆😂 #DeadHeadLife

@SuperChronix @CUBarstool Yep thanks. I figured it out. I don’t pay much attention to our MBB team sorry

@lv_phish @CUBarstool A brain

“Have you heard the rumors that Isaiah Johnson might be transf-“

@queenie4rmnola Seems like a solid plan. What could go wrong in Nola..? They got levees right?

Unpick it. Nothing about New Orleans says we need an underground tunnel

@ThisYouX49 @Jonny_Dutch Cricket fan are we..?

@Jonny_Dutch Lmao American football is the most overrated, least skillful "sport" on the planet. You got 300lb dudes running into each other for 3 seconds, then standing around for 40 seconds doing nothing. Half the game is just commercials and timeouts.

What’s his actual story? there’s no way he’s this athletic/talented by chance

@ChefReactions Redundant redundant

@Mr_Husky1 Hard no. Keep it separate unless you want it to become shared marital property that you could lose in a divorce. That’s your family’s money.

I’m about to get married, and my fiancé knows I have an inheritance that was left to me by my grandparents. It’s in my name only, and I’ve been saving it for years. Now he’s saying that before we get married, I should put the entire inheritance into a joint account so we can “start fresh together,” or he doesn’t think we should go through with the wedding. I’m 36 already and this is something my family worked hard to leave me. I’m torn between wanting to build a life together and feeling like I’m being pressured to give up something important to me. What do you think I should do? By isitmeaitah

@crackerdoodledo @JoePostingg That cock sucker is not getting any of my money at least not directly

@JoePostingg Would Starlink routers be an option?

If your router is more than a few years old you should buy a TP-Link Archer BE3600 right now. Good home routers basically won't exist in six months, you'll have to buy an enterprise device if you want something that actually works.

@Raf3_r1 @Pirat_Nation Does Canada make routers?

@Pirat_Nation Not even from Canada? Technically you're allies, right?

@ntrujillo_pe That’s a pretty clear case of targeting .. that bull’s out the rest of the game

Esto ocurrió hoy en el balneario de Las Delicias de Trujillo. 🚨#Urgente | Corrida de toros Durante la Feria de San José, termina en desgracia cuando dos de los toros se salieron de control

@GratefulDead @shapsio Was there!

“There are bad Grateful Dead shows. There are good Grateful Dead shows. There are certainly plenty of great Grateful Dead shows. And then there are shows like 3/22/90." — Dave Goodwich, Glide Magazine Fans packed Copps Coliseum in Hamilton, Ontario, Canada for two nights in March, culminating on this day in 1990. The band played roughly 23 times up in the Great White North, with their last four appearances occurring at this venue. This show proved to be a knockout from start to finish, highlighted by a standout "Scarlet Begonias > Fire on the Mountain" to open the second set, and a farewell encore of Dylan's "It's All Over Now, Baby Blue. Photos from the Hamilton Public Library, Cody Lee, and Cryprian Estrada