I joke often with some friends who work in private equity, about the efficiency of the market. $ADBE $MSFT $CRM $ZETA $SOFI

I see $UBER bulls talking how a hydrib market will benefit $UBER because it solves the peak demand problem. After all, the argument goes in a 100% AV scenario, you would have AV doing nothing in between peak hours and therefore lose money. However I see two major problem: 1. You will have a a human driver death spiral. If AV handle most of the traffic in between peak hours, human drivers would only earn money during peak hours. So only a couple hours per day. You can't expect human drivers to earn a living off just a couple hours per day. You either have to lower your take rate to make profitable for the human driver or subsidized the human driver in between peak hours. You also to consider that that all of the previous supply of human workers will fight for the couple hours where they can earn money. But that would force drivers to split a shrinking pool of peak-hour earnings, driving hourly pay below minimum wage after vehicle depreciation. 2. AVs are not useless in between peak hours. AVs are programmable. If they can't be used to drive human around. They could be used for transporting good. AV could be hauling small trailers at night. Deliver last mile package Etc... So for me the hydrib argument doesn't stand much.

Thoughts on $UBER / AV. Who between the two command the most value? Is the distribution or the AV software more valuable? To solve this let's imagine that today $UBER was forced to recruit from 3-4 licensed pool of drivers. The combined economic power of the drivers would put pressure on $UBER 's margins. However today it's not the case because drivers are a commodity for lack of a better term. Therefore the should be: how much of a commodity AV software is going to be?

$APP supply side is at the moment limited by ad slot in mobile games. The valuable ad space on the openweb is shrinking. Therefore $APP needs to expand in CTV extremely hard or the mobile gaming industry needs to grow as well. If $APP helps publisher earn more money this might happen.

Let's think about $APP ad form factor. $APP ads are in the form of Interactive HTML5 playable ads, video and DTC e-com ads. All of them are very engaging and reduce ad fatigue. They're also shown on mobile reducing friction as well as been shown on low commitment mobile games.

Thoughts on $APP The shift toward e-com ads on mobile ad networks creates massive tracking hurdles. Moving from native in-app tracking to WebView tracking breaks session continuity causing attribution blind spots, especially on iOS and in Europe due to double consent requirements

Thoughts on $APP: AppLovin controls the ad space in mobile games. But who plays mobile games? Women are the demographic that engages the most with mobile games. They are also the ones who buy the most online. A move into e-commerce is therefore obviously the right call.

Some thoughts on $NFLX Great company but I don't invest in centralized media platform. When content is planned it will always lag behind decentralized platform. But maybe with we will have a democratization of movie production. And $ntflx might benefit from it.

Some personal though on $RDDT. Having 60% of your traffic coming from google isn't something investor should rejoice about. It means $RDDT provide some nuggets of value but people don't stick around. $EBAY was similar. you found a deal on it but didn't regularly use it.

$ZETA no screenshot until the end of the day

$SHOP wow +21%

Thinking of selling my $AMZN and $GOOG to reallocate... But to where...

Are we seeing the beginning of divergence between software stock today? Massive gain for $ZETA $AXON $APP $PLTR $IGV But lose for $CRM $MSFT $SHOP

The winners? Companies that attribute the actual sale. • $ZETA: Uses a massive digital ID network to match ad views to real consumer purchases. • $MELI: Owns the financial plumbing (Mercado Pago). Their card transaction data tracks your purchases even outside their ecosystem.

$ZETA Let's go 24% allocation

My portfolio is going to the moon today. $APP $MELI $NOW $ADBE $CSU