Cubs Resurgence Decade

#USAHockey #DemocracyUnderSiege #Olympics2026

@alt_w_v_g The “forget to cancel” take is silly because after the 60/90-day trial, they remotely lock down the receiver to a single channel informercial.

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

@EW Strange he’s openly shilling for Orban and opposing public health mandates (very popular w/the Kremlin crowd) while calling for conscription. @RobSchneider let us know if your kids need help finding a military recruiter. Perhaps your oldest can cover “Proud to be an American?”

Rob Schneider, who does not have a history of military service, called for the U.S. to reinstate a military draft for men and women amid the war with Iran. ew.com/rob-schneider-…

@AmericaFirstCon FYI, the image you selected to drive home your point is AI-generated slop.

The US stock market has lost 10% in value since Trump started Operation Epic Fiasco against Iran. That's $6-6.7 trillions worth of losses (correction territory) hitting the pocketbooks of everyday Americans. Average gas prices in my home state of Utah have shot up by 66% in the last 30 days since the war began. Thirty-six US House Republicans are retiring and that number is likely to increase. The last time that happened in 2018 the Democrats netted a gain of forty US House seats. If neocon, America Last President Donald Trump keeps fighting his unwinnable forever war in Iran for another few months or more the GOP will be unable to win another national election for at least a decade and maybe even a generation. Trump is destroying the GOP. He is the greatest enemy the Republican Party has ever faced. The GOP is likely to lose 6 Senate seats and 40 House seats in November thanks to his Deep State forever war in Iran. Trump's Deep State America Last war on Iran has not just proven disastrous strategically and militarily for the US it has also proven politically and economically disastrous as well with a US economic recession now guaranteed as the cost-of-living soars and gas prices surge to $6 a gallon. Iran's strategic victory over the US is guaranteed as I have been stating since Day One of the war. Trumps unwinnable forever war has already made Iran the recognized regional hegemon with undisputed full control of the Persian Gulf and Strait of Hormuz something it never was or had in modern history. Russia is shipping thousands of improved Iranian drones to Iran to kill Americans trying to invade Kharg Island just as we have sent thousands of missiles and drones to Ukraine to kill Russians. The US has proven powerless to stop Iranian ballistic missile strikes which have destroyed 13 US military bases and destroyed or damaged over a dozen AWACS and refueling aircraft on the ground. The picture of a destroyed US AWACS aircraft is very telling about how Trump's unwinnable forever war in Iran will permanently end America's global empire and temporarily end our conventional military superpower status by breaking the US military for a decade to come. If the US is able to survive Trump's Deep State War against Iran, which it very well might not, Trumps poll numbers will be less than Herbert Hoover's when he left office during the Great Depression. Trump will forever be remembered as the president who lost the biggest war since Vietnam, who broke the US military, who transformed the Republican Party into a permanent minority party, transformed the US into a one-party Democrat socialist republic and destroyed America's global standing in the world.

@AdamMossoff @SteveGuest Great, maybe we can use the remnants to patch up the AWACS at PSAB. Call us when the drone strikes end and SOH isn’t choked.

The U.S. and Israel are achieving in just a matter of weeks what it took Allies a couple years to do with their strategic bombing campaign against the Nazis in WW2. I'm also confident that the customers of the NY Times, Washington Post, CNN, etc. will not learn of this and other military achievements because it doesn't fit their narrative that we're losing our ineffective military operation against the Islamic regime of Iran. The media is actively misleading the American public. The media also bemoans the massive loss of trust in them as an essential institution in our society. They should take a long look in the mirror when they talk about the causes of the loss of this trust.

@DeanTTraining Throw it atop cauliflower rice and you are good to go: protein, fiber, deliciousness and enogh calories saved for an IPA.

Costco is literally throwing the KITCHEN SINK at all of your excuses “Can’t hit my protein intake…it’s too hard” “Unable to meal prep…don’t have enough time” They’re literally rigging the entire game in your favor How are you not winning? Seriously…how???

@MarkSmith7890 @RonDeSantis Wrigley, Fenway, PNC, Oracle, Camden Yards in no particular order.

@RonDeSantis Camden Yards?

Top 5

@jcalvinmeyer Practically 30 degrees in the shade…save attendance counts for June-August.

Orioles attendance for the second game of the season: 26,057

@sentdefender Just needs some speed tape, all good.

Pictures show the total loss of 81-0005, an E-3G “Sentry” Airborne Early Warning and Control (AEW&C) Aircraft with the U.S. Air Force’s 552nd Air Control Wing based out of Tinker Air Force Base, Oklahoma, following yesterday’s Iranian ballistic missile and drone attack on Prince Sultan Air Base in Saudi Arabia. The strike appears to have purposefully targeted the most important part of the E-3, that being rear of the aircraft which holds its rotating radar dome, containing several sensitive instruments including antennas for the E-3’s AN/APY-2 Surveillance Radar System.

@CynicalPublius @kylegriffin1 Meanwhile, burned out and exposed Bay Area online vet does nothing but whine and complain? Sad.

@kylegriffin1 In related news, the makers of Depends adult diapers report record sales this weekend.

Organizers expect today's No Kings Day rallies — with more than 3,000 events planned across all 50 states — to be the largest single-day protest in American history.

@AriFleischer Cool story. Since we’re talking about support for the common cause, rules for thee/not for me and general hypocrisy, is it fair to ask if you will encourage your kids to enlist in the military to support our conflict against Iran? Happy to connect you w/a recruiter. -GWOT vet

I’m reliably told he routinely flys first class. Socialism works well for hypocrites.

@PhilHollowayEsq (checks notes) Senate voted 100-0 to fund TSA…and the House?

Go Bernie! Fight the good fight 👊 Nothing says “fight the power” quite like flying first class while TSA workers are going unpaid

@chrispapst @FOXBaltimore Maybe there’s a Fox affiliate in Texas with a job opening?

Part II of... trying to wrap my head around this. Texas Population: 31.7 million State budget: $161 Billion Cost per resident: ~$5,000 Maryland Population: 6.3 million State budget: $70 Billion Cost per resident: ~$11,000 A $24k taxpayer difference for a family of four.

@CynicalPublius @tnewtondunn In other words, you support “bravado culture?”

@tnewtondunn Go look up how many Americans died thanks to his ridiculous RoE in Afghanistan.

A fascinating answer from Gen Stan McChrystal to the NY Times on what he thinks about War Secretary Pete Hegseth's bravado culture. Worth remembering he commanded a green beret platoon, an airborne battalion and a Ranger regiment, before running Joint Special Operations Command.

@zachbollinger18 Put them in the Truist Club and have them sprint down the aisles behind home plate (Prie is Right style) to tarp or groom the field.

Thinking about the possibility that the Orioles grounds crew didn’t move their seats at all and now they just sit in the dark behind the new wall until called upon.

@CynicalPublius “I've run in both worlds in a way few others ever have…I know of what I speak” is next-level chest puffing that Xbros are supposed to lap up, yes?

McChrystal made himself incredibly wealthy by creating a consulting firm that peddles the MDMP to greedy Silicon Valley techbros like it is some sort of revelatory approach to business. The ignorant techbros lap it up like kittens to cream. They puff out their chests thinking they earned a Green Beret in management, their business is the same, and McChrystal moves on to the next mark. He trades military honor for filthy lucre. Illegal? No. Dishonorable? In my opinion, yes. Feel free to disagree, but I've run in both worlds in a way few others ever have. I know of what I speak. Forgive me if I give zero credence to this man smearing the choice of the American electorate via a neo-Marxist propaganda rag.

@coremonster29 @BNODesk Yes, you can squeeze that many in there (with gear), knee-to-knee in four columns.

@BNODesk Wait…how did they manage to fit 110 people on a 130? There aren’t enough seats or room really to do that…

NEW: Video shows Colombian Air Force plane losing altitude shortly before the crash. About 100 people were on board

@jcalvinmeyer Gotta be Jackson - doesn’t he also play IF?

Jeremiah Jackson has hit two oppo homers since Wednesday. The Orioles’ competition for the last infield spot is: • Jeremiah Jackson • Luis Vazquez • Weston Wilson • Bryan Ramos With how Jackson hit last year and how he ended this spring, it’s hard to imagine him missing.

@interesting_aIl All very cool but the correct answer is Javy Baez stealing first base against the Pirates and getting an RBI in the process.

Which one is the most classic??

@samstein @sandibachom Actually makes a lot of sense from the admin’s POV: he can tow the company line as needed and the claim pol-mil is not his lane when confronted with a difficult question. His job is to keep media spinning its wheels.

I continue to be intrigued at the administration's decision to send Scott Bessent out to defend the war.

@CynicalPublius @martensmatt1 Seriously, go outside and take pictures of something. Each tweet is a self-own that proves you’re devoid of principles, not to mention hobbies.

@martensmatt1 Bob Mueller did more to destroy America's faith in the concept of equal justice under the law than any human since Robert Taney.

Bob Mueller was my law partner. He was among the best men this nation has ever produced. May he rest in peace.