Adi Soglowek

@tomerdbz I have no idea, other than the general idea that 2026 is the first year such approval becomes actually possible. I share the sentiment that such approval could be (if it happens at all) pretty dramatic.

@pbcinc Do you think though it may hint NMPA approval is far? I'm thinking if I were mgmt, waiting to list after the approval would be dramatic. Am I missing something?

Sofwave Medical's filings teach us that management is preparing to cross the t's and dot the i's in the upcoming annual meeting (end of April), in preparation for a US IPO and dual listing. It seems to me we are getting pretty close now, and other than the usual Q tempo, geopolitical calm is likely a catalyst. Progress. $SOFW $SOFW.TA

The flip side of drone warfare is clear: the need to equip the most forward unit, the foot soldier, with C-UAS defenses against FPV/kamikaze drones, whether autonomous or EW-resistant. linkedin.com/posts/mark-k-7…

And because today I'm busy answering here instead of working on the next generation of devices, let me show you what the Shelly world actually looks like. This is our live activation penetration map — users per 1,000 households, globally. Deep purple = high penetration. Europe, Australia, North America — and we're just getting started. Most of the world map is still light. That's not a problem — that's the opportunity. From tomorrow, I go back to building. Not chatting. $SLYG

Just execute.

Big gap in Drone Warfare Defense: "US reportedly detects drones over Washington base where Rubio, Hegseth live". Pretty wild security risk, if true. timesofisrael.com/us-reportedly-…

Mark Zuckerberg sold 7 million AI glasses last year while everyone was laughing at his metaverse. The $80 billion number in this tweet is slightly off. Reality Labs has posted $84 billion in total losses since 2020, per Meta's Q4 2025 earnings. But here's what the dunks leave out: that division doesn't just build "the Metaverse." It builds Quest headsets, Ray-Ban Meta smart glasses, the Orion AR prototype, a neural wristband, and research avatars. Horizon Worlds, the VR social app that's actually dying on June 15, was a sliver of that spending. Meta's CFO, Susan Li, confirmed in January that 70% of Reality Labs' budget goes to wearables and AI glasses, with only 30% toward VR and Horizon. The guy everyone's roasting today quietly built the fastest-growing wearable in consumer electronics, while Horizon Worlds was the decoy drawing all the fire. The wearables side produced results. Seven million smart glasses sold in 2025 alone, per EssilorLuxottica's Q4 report. That tripled the 2 million total they sold in 2023 and 2024 combined. Demand got so high that Meta paused the international rollout of its new Ray-Ban Display glasses because they literally cannot make them fast enough. Bloomberg reported they're in talks to scale production to 20 million units. Zuckerberg called them "some of the fastest-growing consumer electronics in history" on the January earnings call. Horizon Worlds, the thing that's actually being killed? It peaked at about 300,000 monthly users in early 2022, then fell below 200,000 by October of that year, according to internal documents reported by the Wall Street Journal. A YouTuber who spent a week in the app in 2023 found roughly 900 people online at any given time. When Meta announced 30% budget cuts to its metaverse teams in December, the stock jumped 5.7%. The company did $201 billion in revenue last year. Zuckerberg spent $84 billion, killed the part that didn't work, kept the part that did, and his company is still worth $1.6 trillion. The internet is roasting a guy who can't make his glasses fast enough to keep up with demand.

A theme in UAVs that I haven’t seen much talk about, but that is arguably important, is the need for low-cost connectivity solutions for Beyond-Visual Line of Sight (BVLOS). One pure player that can handle this reliably and is battle-proven, with 500k+ hours of field use, is $ELS.AX They offer a device called Halo that combines multiple cellular signals and satellite links into a single connection for drones. It basically ensures the drone stays in contact with its operator, even when flying miles away. The biggest issue is actually getting jammed, their system automatically detects failed communication channels (even jammed) and reverses the communication on alternative links with no disconnect caused. Uptick time is over 90%. Their product, besides the very obvious defence capabilities currently in use, has civil applications (for example, shark monitoring along the coasts of Australia), but that leg still accounts for a very small % of revenue and is not the key focus. Main competitors could be considered mesh radio companies (Silvus, etc.), but they are a more reliable/expensive, and more logistics-demanding solutions, so I believe the comparison, while logical, is not entirely fair, as they are different sub-markets under the same umbrella. When it comes to defence, we see the same 3-4 companies mentioned, and there are many others that cover useful niches like this one. Main competitors could be considered mesh radio companies (Silvus, etc.), but they are more reliable/expensive and more logistics-demanding solutions, so I believe the comparison, while logical, is not entirely fair, as they are different sub-markets under the same umbrella They are already generating free cash flow (something their competitors can't say, at least for now). Insane inflection this year. Risks - Tied to the defense trade, which is macro sensitive, could argue that it is expensive at the moment. Disc - Long at a much lower price than it is today. Not a suggestion to buy/sell.

$SOFW ATH.

$SOFW “strong momentum”. Veteran CFO making everyone stick to script-only going into the call, through the Nasdaq process with Dr Eckhouse clearly not enjoying the process. 😄

David researches all the fun companies.

$SLYG drawdowns feels very overdone over A/R issues, which I think is to be expected in a fast growing business. I know management has already begun to address this. Likely sub 50 euro ends up a phenomenal buying opportunity. Longer. Not a rec.

Weaponized $500 FPV drones attacking million-dollar armored assets is an asymmetrical economic warfare. What if the ultimate C-UAS solution cost exactly the price of a standard 5.56 NATO round, even in a wire/autonomous FPV scenario? linkedin.com/posts/james-ac… #DroneWarfare #CUAS

Perhaps the most reliable measure of true wealth is the freedom to spend your waking hours in meaningful conversation with people you love, admire, and genuinely enjoy, and, just as importantly, the freedom to decline the opposite, without consequence.

In the end, $MELI’s share price is a quiet tug of war: today’s heavy reinvestment vs. tomorrow’s surging FCF. Shareholders wonder if the trees planted now will bear fruit for them or their grandchildren. Yet, buy at the ‘22 valuation bottom? You’ve still compounded >30% annually and more had you used derivatives (and frankly, should have done so). We may well be in the same place once again.

$CSU.to Some info on ML from Giverny. "He therefore had to resign and undergo emergency surgery. The good news is that the surgery went well, and Mark is now out of danger. He will therefore remain on the company's board of directors." givernycapital.com/wp-content/upl…

Lots of practical, battle tested Drone Warfare skills to download to the Bundeswehr.