Atreides Management, LP

Investment firm. CIO @gavinsbaker. Crossover strategy. We want to help exceptional teams across consumer and technology. No investment advice.

[Atreides Management, LP @Atreidesmgmt]

We are hiring for multiple roles.

Please apply through the relevant job post if interested.

https://t.co/A3XEtB0JAO

[Atreides Management, LP @Atreidesmgmt]

Pls note that @khealth is an Atreides portfolio company.

[Atreides Management, LP @Atreidesmgmt]

Great Forbes article on @khealth

“patients will be able to use an app that connects to K Health's AI and leads to a chat with a Cedars-Sinai credentialed doctor or nurse. The app…will also be linked into the system’s electronic medical record system.”

[Atreides Management, LP @Atreidesmgmt]

https://t.co/gpDPI4GjmN

[Atreides Management, LP @Atreidesmgmt]

WEKA vs. AWS Lustre:

“WEKA provided comparable or superior usability and outperformed FSx for Lustre at similar capacities by up to 300%. On some tests, WekaFS IO latency was less than 30% that of FSx for Lustre. Mature and easily deployed in AWS.”

https://t.co/mSAsSKepHD

[Atreides Management, LP @Atreidesmgmt]

Excited to be an investor in @weka

Q3:

Larger than entire FY21
255 percent net dollar retention (NDR)
250 percent attainment against its Q3 financial plan
635 percent total contract value (TCV) growth
232 percent annualized run rate (ARR) growth

https://t.co/6EKT4IX62F

[Atreides Management, LP @Atreidesmgmt]

2) Could argue it is a more aligned, more success based pricing model.

If a company has a good, differentiated value proposition, this is likely a positive.

[Atreides Management, LP @Atreidesmgmt]

1) The significance of the increasingly broad shift to consumption based pricing models in software feels underappreciated.

The sun is going down on the days of multi-year upfront commitments.

Less predictability, less favorable payment terms and potentially much more upside.

[Atreides Management, LP @Atreidesmgmt]

2) "Balto also offers voice-trigged dynamic prompts, including rebuttals, compliance statements, and product knowledge."

https://t.co/t1aqR5zhuP

[Atreides Management, LP @Atreidesmgmt]

1) "Balto’s AI listens to both sides of a conversation and visually prompts agents what to say next. A smart checklist feature reminds agents of the prescribed conversational flow, with Balto automatically checking each point off a list..."

[Atreides Management, LP @Atreidesmgmt]

Hedge Fund net exposure to MS reopening baskets (MSXXOPN2, MSXXREOP, MSXXLEIS) is down to the 2nd %-tile over the past 12 months.

- TW at MS

[Atreides Management, LP @Atreidesmgmt]

“Find the freight trains and get on them.”

From TP at GS.

[Atreides Management, LP @Atreidesmgmt]

The tail really does wag the dog these days. At both the index level and often the single stock level.

[Atreides Management, LP @Atreidesmgmt]

“Delta/COVID is the most important topic right now in the market for the exact reason that not EVERYONE agrees that it’s the most important topic.”

- BF at BofA

Interesting take.

[Atreides Management, LP @Atreidesmgmt]

Counterintuitive fact from the same ERP report on travel:

“Compared to pre-Pandemic levels, people in states with the highest vaccination rates are logging 15% less time in transit hubs. Those in states with the lowest vaccination rates are spending 20% more time in transit.”

[Atreides Management, LP @Atreidesmgmt]

There is $600 billion in pent-up travel demand per ERP.

[Atreides Management, LP @Atreidesmgmt]

@ParanoidAnalyst Well expanding the constellation by a factor of 30x and continuously improving the per satellite capacity will be an offset - but yes all networks slow as load factors grow.

[Atreides Management, LP @Atreidesmgmt]

3) Starlink will almost certainly be faster and lower latency than fixed broadband in most parts of the United States and Europe, let alone developed markets.

[Atreides Management, LP @Atreidesmgmt]

1) Good note from MS on Starlink. 1740 satellites, 275k downloads, 90k users in 12 countries and 500k orders.

Average download speeds in Q2 were 100 Mbps, up from 66 Mbps in Q1. National median is 115 Mbps for fixed broadband in the United States and 20 Mbps for satellite.

[Atreides Management, LP @Atreidesmgmt]

2) Starlink latency is dramatically better than other satellite providers and comparable to fixed broadband outside of dense urban areas.

[Atreides Management, LP @Atreidesmgmt]

Significant deceleration in the 2 year growth stack in aggregated BAML credit card data.

Delta, random variation, Child Tax Credit timing, pay cycle?