In the wake of a scramble to find vulnerabilities in Microsoft's distribution of SharePoint, it is critical for US law enforcement to evaluate Groupon's role in the distribution of Chinese and other foreign-backed Microsoft resellers. Background On June 9, 2025 I published the below piece outlining
The "turnaround" of Groupon (NASDAQ: GRPN), especially around the key North America Local segment, is one big sham. Groupon has benefitted greatly from two major trends in 2024 into early 2025, which correspond with their recent rise in their stock price from $12.00 to $32.94 year-to-date.
Opinion: Klaviyo is a Strong Sell, with extreme and under-appreciated risks through 2025. Its customers are poorly capitalized, tenuous businesses with massively disproportionate exposure to consumer discretionary. I am short KVYO. Klaviyo is MailChimp for e-commerce SMB. However, plenty of e-commerce companies also just use MailChimp or other email service
Opinion: Strong Sell. I am short DOCS. I believe DOCS is not "LinkedIn for Doctors" but "ZoomInfo Targeting Doctors" and it is a predatory business model set to burst in 2025. Doximity AKA "LinkedIn for Doctors" is a business in declining health with major
Opinion: Appian Corporation (NASDAQ: APPN) is a Strong Sell. Key Points * Appian positions itself as a "low code" application development solution with major F500 companies and many US federal government agencies among its customers. However, upon closer inspection it appears a large portion of Appian's revenue
Free money for scrolling through hundreds of ads, free money for recruiting new members, high coupon sales for AppLovin going headstrong into an e-commerce narrative: Let's dive into AppLovin's related party e-commerce pyramid scheme Flip, which is driving AppLovin's DTC e-commerce growth as Wall
Key Points * APP has recently exploded in terms of equity value and in revenue growth, fueled by a strong push into e-commerce and a potential inclusion in the S&P 500, which did not occur. * However, incremental APP revenue and revenue growth through 2024 is heavily influenced by a
Opinion: APP is a Strong Sell. This stock had been managed to an "S&P 500 inclusion" story that did not pan out, on the back of an e-commerce story that makes no sense. Even strong beats this upcoming earnings would not account for how APP revenue
Opinion: APP is a Strong Sell. AppLovin is merely a Russian/Belarusian/Cypriot hellhole of related-party transactions on low-tier mobile games in a declining industry. Note: In the last few months I've asked thirteen investors in this name whether or not they've actually played mobile games
ServiceTitan, which IPO'd this week, is a strong play on the prison industrial complex. ServiceTitan, as the scheduling and dispatch software for the construction and home services industries, has the best location data set on the movement and physical locations of thousands of undocumented Latinos in the US.
New "AI and Crypto Czar" David Sacks has backed a number of founders with direct ties to organized criminal activity. Is David Sacks really just a venture capitalist investing in speculative tech companies? Or is his VC persona merely a front for organized crime? Let's dive
Zeta Global CEO David Steinberg has been evasive on the Kubient accusations in recent calls and releases. It turns out, David Steinberg has had a deep relationship with Kubient CEO Paul Roberts for years. Why is David Steinberg's VC firm Caivis' website still down? Background 1) On