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Tuesday, November 10, 2026

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Airbnb 3Q26: Business Update

Airbnb’s 3Q26 revenue rose 19% to $4.9 billion as nights and seats grew 16%, with app bookings up 29% and Reserve Now Pay Later adding three points.

ABNB $111B
Speedwell Memos 2 clicks

From X

@StableBread

Fajasy on X

If ur reading a write-up and they don't include a valuation range, more often than not: 1) They're lying to themselves. E.g. only pitching bull case. "The next 10x." $GRAB a couple years ago. 2) They're lying to you, the reader. E.g. not focusing on bear case enough. "It's asymmetric"... but actual downside if couple thing flops is 60%+. $FLNC just 2-3 months ago. 3) They have no clue and prob conclude by saying "position as small speculative bet" to be in a win-win scenario to gain subs. $CCXI today... Multiple based valuation is the simple/lazy route and easier to defend, yet less practical. Absolute valuations like DCF or Penman REV forces you to think more through scenarios and the business itself, which is what's actually useful because it's more subjective.
@convequity

Convequity on X

Whether AI can run security operations on its own comes down to one question: when an automated action is wrong, who is accountable for finding out what happened and fixing it? Our note borrows two levels from self-driving cars. At L2 the driver answers for mistakes. At L4 the car drives itself, so accountability shifts to the company behind the system. 1. At L2, a third-party AI agent mostly assists. It connects to a security platform over MCP, the protocol that lets an outside AI model pull data from a vendor's platform. It suggests next steps and drafts investigations, while the human and the security platform still hold the wheel. 2. At L4 or L5, the system acts with no human in the loop in the security operations centre. It quarantines a machine, kills a process, revokes access or blocks traffic. Any of those can be wrong. When one is, the customer needs a clear accountable party that will investigate and fix the problem. In our view $PANW can be that party. It is already inside the customer's systems, keeps audit trails, and its own products take those hard-to-reverse actions. AI model labs are poorly placed for that role. On our reading, their terms usually limit what they answer for, so when an outside agent acts wrongly, the customer is left to investigate and fix the problem alone. Outside agents compete most easily for the analyst's workspace, which is L2 work. That makes $PANW better placed than model labs to sell autonomy.

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Monte Investments Market Brief Vol. CXXXV

Quanta Services’ backlog rose 63% year over year to $64 billion as shares fell 30%, while AI power and data-center construction demand…

PWR $77B
Monte Independent Investment Research 2 clicks

No title

SpaceX’s $24 billion Starbase power plant, Microsoft’s Oracle capacity cuts, Riot’s $72 billion AI lease and Quanta’s sell-off frame…

PWR $77BORCL $363B
Monte Independent Investment Research 3 clicks

Insider activity October 2026

Asian insider buying reached $2.9 billion in October, the highest since 2018, with South Korea and Thailand leading.

BKRKY $23B
Asian Century Stocks 2 clicks

Quick Value #337 - Dana Inc (DAN)

Dana is combining with Eaton’s Mobility unit via a 1Q27 Reverse Morris Trust after selling a division, delevering and accelerating buybacks.

ETN $141B
Value Don't Lie 3 clicks

Roblox: Capture This Moment

Roblox’s Q3 FY26 DAUs fell year over year for the first time, while bookings declined 12% to $1.7 billion.

RBLX $35B
TSOH Investment Research 2 clicks

DoorDash and Google

DoorDash and Google.

DASH $79B
Stratechery by Ben Thompson – On the business, strategy, and impact of technology. 8 clicks

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