Birthright Margin

The intersection of endowed leverage and pursued edge.

[Birthright Margin @BirthrightMargs]

@saso_capital Strike two!

[Birthright Margin @BirthrightMargs]

Last month’s IQ test was DC water usage.

Here’s this month’s 👇

[Marcelo P. Lima @MarceloLima]

On headline numbers, Google is paying about 2.2x the rate per GPU that Anthropic is paying for SpaceX's capacity.

2.2x.

Is there a good explanation for this? Is the underlying hardware very different.

[Birthright Margin @BirthrightMargs]

@ApoStructura Burry probably:

No bro, they’re short term agreements that Dario and Google are doing to help Elon out and they’ll magically disappear after the IPO. It’s all fugazi!

[Birthright Margin @BirthrightMargs]

@RKLBMan You don’t have the glp-1 $VSXY $MCD combo meal?

[Birthright Margin @BirthrightMargs]

@UncleAlpha007 Does “current EV” account for Earnouts?

[Birthright Margin @BirthrightMargs]

@saso_capital @Yeah_Dave @ParadisLabs It’s wild how Claude will just reaffirm your bias if you prompt it wrong. I’ve seen outputs that are terribly wrong.

[Birthright Margin @BirthrightMargs]

@saso_capital @Yeah_Dave @ParadisLabs To be fair…the filings aren’t exactly produced at the average reading level of US graduates.

[Birthright Margin @BirthrightMargs]

@CatSE___ApeX___

[Birthright Margin @BirthrightMargs]

$BRUN down over 20% since then. Monday after market will be interesting to watch.

[Birthright Margin @BirthrightMargs]

I like $BRUN but I hope everyone is aware of the large early unlock incoming...I'll be buying dips afterward.

[Birthright Margin @BirthrightMargs]

@josericciard @Aktiehedonist Pretty much. These things play out differently each time though because all those shares won’t hit the float immediately, S-1 takes a while and depends on who all is going for the exits.

Look at Willow’s track record.

[Birthright Margin @BirthrightMargs]

@josericciard @Aktiehedonist the early release under [2] is the EARLIER of (x) and (y). it doesn't require both.

Which will be Tuesday June 9 if $BRUN closes above $12 each day through Monday. That's the whole point of this internet kerfuffle.

[Birthright Margin @BirthrightMargs]

@GatorNation0_ @saso_capital It has been this way for years in SPACs, not my first time deciphering S-4s https://t.co/JdTXwvPSWH

[Birthright Margin @BirthrightMargs]

@josericciard @Aktiehedonist Cool, answered that in another comment: https://t.co/ojVateEX3K

Also, here's my working analysis of one of the Lock-up agreement terms to show it clearly (there are multiple for all the entities)

[Birthright Margin @BirthrightMargs]

@josericciard @Aktiehedonist Cool, answered that in another comment: https://t.co/ojVateEX3K

Also, here's my working analysis of one of the Lock-up agreement terms to show it clearly (there are multiple for all the entities)

[Birthright Margin @BirthrightMargs]

@GatorNation0_ @saso_capital Those are independent clauses;
the {lockup period} doesn't apply to 10%

AND

is subject to early release

[Birthright Margin @BirthrightMargs]

@josericciard @Aktiehedonist Page 10 of S-4 Amendment No 3 looks like this to me, so I'm unable to follow along with your original question

[Birthright Margin @BirthrightMargs]

@GatorNation0_ @saso_capital What page of what document is that?

[Birthright Margin @BirthrightMargs]

@GatorNation0_ @saso_capital Those are independent clauses;
the {lockup period} doesn't apply to 10%

AND

is subject to early release

[Birthright Margin @BirthrightMargs]

@josericciard @Aktiehedonist This is why I asked you to screenshot and link your work. There are amended S-4s and you're clearly not working off of the most current S-4 (amendment No 3)

https://t.co/fOLTUJG3Xu

[Birthright Margin @BirthrightMargs]

@GatorNation0_ @saso_capital Are you really going to just ignore the "exceptions" 🤣

[Birthright Margin @BirthrightMargs]

@josericciard @Aktiehedonist You can say that 1,000 times and it will still be incorrect. Show me the S-4 language that proves what you are saying. Find it, highlight it, screenshot it with a link.

[Birthright Margin @BirthrightMargs]

@TaPlot No words feel like enough, very sad to hear and hope the next phase works. 🫂