DeFibonacci

Crypto & Equity Trader. Lover of markets, sound money, and chart art. $ETH + #DeFi + #bitcoin

[Matthew McConaughey @McConaughey]

bets still on the table America, yet.

[DeFibonacci @DeFibonacc]

Love this release from Pelago

https://t.co/iWfGkQ3zTq

[Brad Gerstner @altcap]

$250 M directly into 1 M kids @TrumpAccounts - a totally new type of massive philanthropy unlocked by the Invest America Act. Thank u Sanjay @MicronCEO for laying out a blueprint for businesses across America & welcome to the @InvestAmerica24 CEO Council! 🇺🇸🚀🇺🇸

[Jason ✨👾SaaStr.Ai✨ Lemkin @jasonlk]

Figma has to be the most oversold software stock

▶️ Down ~87% from its peak. ~50% just in 2026. ~$19 a share
▶️ ~$10B market cap even with 46% (!) growth
▶️ The part the market is ignoring: the business got better the whole way "down"

Q1 2026:

- Revenue +46% YoY, and accelerating (38% → 40% → 46%)
- 139% net revenue retention, the highest in 2+ years
- 27% free cash flow margin
- Guidance raised

A 46% grower with a 27% FCF margin now trades at ~6x forward revenue. Look at where the rest of the 30%+ club trades:

Palantir 85% → 36x
Cloudflare 34% → 28x
Datadog 32% → 19x
Snowflake 34% → 15x
▶️Figma 46% → 6x
HubSpot 18% → 2x

Figma grows faster than everyone except Palantir and trades cheaper than all of them but HubSpot, which grows less than half as fast.

Same market cap as HubSpot (~$10B), but HubSpot does 2.6x the revenue. The fastest grower in the group is priced like one of the slowest.

The discount's #1 root cause: Anthropic.

Figma Make runs on Anthropic's Claude models. In April, Anthropic shipped Claude Design, aimed straight at Figma's core. Their CPO left Figma's board 3 days before launch. Figma is paying its own disruptor for the engine.

That's the serious bear case. Prompt-to-design tools don't assume a designer in the loop, and that premise is what Figma's 80-90% market share is built on.

👉But the tell: none of it is in the numbers yet.

139% NDR. Seats expanding. Pros aren't leaving. The market is pricing an 18-24 month risk the income statement hasn't felt.

Versus its real peers, it's the most mispriced software name on the board.

[Adam Rossi @rossiadam]

Beautifully written article on the responsibility that comes with being a husband and a father.

You need to show up and give your whole self.

[Patrick Collison @patrickc]

I asked Claude about the air conditioning debate in Europe, and it really didn’t pull any punches.

[DeFibonacci @DeFibonacc]

Feels like a strong entry point $XLE

[Sam Gatlin @sam_gatlin]

Are you buying energy down here at a key level of former support?

Or are these massive tops with more downside?

[DeFibonacci @DeFibonacc]

@WestHamViews_ Is there no way we can keep him? Hell of a player!

[DeFibonacci @DeFibonacc]

@WestHam_Central Is there no way to keep Diouf?

[Alex @ajak1033]

The Spurs know how to TAKE the lead, they just don't know how to HOLD the lead. And that's really the most important part of the lead: the holding

[Jamin Ball @jaminball]

Q1 earnings season is just about done, and this Q has been great for software. Looking at the YoY growth in quarterly net new ARR added, this was the best quarter (by a long shot) in last ~5 years

[Ben Carlson @awealthofcs]

Wemby is like AI's impact on the labor market

It feels inevitable but it's not happening quite yet

[DeFibonacci @DeFibonacc]

$LFTO Liftoff Mobile IPO delayed.

I anticipate back later in the year once the software / adtech dust settles

[Kaushik @WisemanCap]

$SNOW Guides FY27 Product Revenue $5.84B, representing 31% YoY growth, up from previous guidance of $5.66B, or 27% YoY growth

[Kaushik @WisemanCap]

$APP '$1,100 bull case in play' - Morgan Stanley

APP can sustain above-market growth by continuing to expand its conversion rate, as ~99% of its ads still do not generate a conversion There is a 10x conversion rate gap between APP and market leaders, which implies significant headroom to expand Improvements would stem from APP’s scale/data advantages, continued mix shift into non-endemic ads, and lower repeat rates APP’s conversion rate has expanded 30bp over the last 18 months and we estimate that each additional 10bps would drive 17 points of net revenue growth If APP maintains 20bp of annual conversion rate expansion it could see revenue/ EBITDA ~50% above consensus by ’30 and put our $1,100 bull case valuation in play.

[DeFibonacci @DeFibonacc]

$XLE Oil Prices Are Dropping, but Traffic in Hormuz Has Slowed https://t.co/tUKsHfyNQ8

[Paul Graham @paulg]

@romlib_ Crypto is a legit and indeed inevitable technology. Usually such things are net positive.

[DeFibonacci @DeFibonacc]

Have always felt Facebook groups were way underutilized

$META

[Shay Boloor @StockSavvyShay]

$META has released a standalone app for Facebook Groups called "Forum."

The app appears positioned as a more $RDDT like community platform built around topic-based discussion.

[Exa @ExaAILabs]

We raised $250M in Series C funding at a $2.2B valuation, led by a16z.

Exa is a search lab organizing the web's data for agents.

[Juan Leon @singularity7x]

1/ Yesterday a16z led a $250M Series C into Exa Labs at a $2.2B valuation.

AI agents will search the web more than humans this year.

Exa builds search infrastructure for AI agents — not humans.

This is where the smart money's bet on AI infrastructure is heading.