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Wednesday, September 16, 2026

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@BlueDuckCap

BDC on X

Good luck today Evan. Ultimately, a home run partnership could be made with $SPCX. Give XAI distribution on SNAP, replacing Perplexity. Offer a bundled Spec's price with Starlink cellular connections. Specs will need direct cellular connections to truly become untethered to Wifi/Phone so as to maximize the human connection without reliance on the other two. Make Specs a potential phone replacement even - not a total replacement as everyone still needs a phone - but give people the ability to go out and about with just their Specs and have all the functionality needed to go about modern life. SPCX has the spectrum needed to make this work.
@KEDM_COM

KEDM.com on X

Adestella @AdestellaInvest holds Dell $DELL as its largest position, arguing that agentic AI token costs push routine inference back on-premise, onto Dell servers. “AI-optimized servers such as Dell’s become an important component of capex budgets – a trend we’ve already seen begin in recent quarters (see graphs). It’s a bit of a full circle moment. A decade ago, enterprises migrated everything to the cloud and software was king; now, companies are re-adding on-prem capability and hardware reigns supreme.”
@KEDM_COM 1 click

KEDM.com on X

Deep Sail @DeepSailCapital turns up twice in our Q2 sweep. SK Hynix was one. Celestica $CLS is the bigger bet: Deep Sail initiated $CLS in Q2 and holds it as its largest conviction: after canvassing the whole space, it sees Celestica as the cheapest way to own the AI data-center build-out, with structural margin expansion and design wins secured in 1.6T and co-packaged optics. Deep Sail puts at least three years of runway on the build-out.
@BlueDuckCap

BDC on X

This is the fundamental reason we too like $SNAP. And the catalyst now is that a decade of Specs capital deployment with material negative ROE to date is coming to a cross roads. Either Specs shows enough promise, while fully acknowledging that the units sold this season will not be much due to price point/form factor, OR it's a pretty underwhelming event which will raise pressure to guardrail spend going forward. Wildcard would be some sort of partner announcement. We'd love that to be a minority investor in Specs such as $SPCX where we've found a lot of industrial logic. In any event, FCF per share is going up.

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Adobe 3Q26 Update

Adobe’s fiscal 3Q26 revenue grew 13%, while ARR growth slowed to 9.3% excluding Semrush.

ADBE $99B
Speedwell Memos 2 clicks

Alarm.com: False Alarm?

Alarm.com, founded after CEO Steve Trundle’s bad home-security experience, has fallen from $105 in 2020 to about $55, testing whether…

ALRM $2.7B
TSOH Investment Research 1 click

Owning the Seven PM Slot

Netflix is using AI visual effects and dubbing to cut production costs, expand global distribution and reinforce its recommendation-driven…

NFLX $511B
Bearhold Research 1 click

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