delta

[delta @deltafundc]

@RAMCOCAPITAL @riddle245 Isn’t this $23B+ a nominal-value assumption for concession fees spread over several years, versus a competitor’s $7B all-in figure?

[delta @deltafundc]

@borrowed_ideas not to mention that a huge chunk of Uber’s FCF is SBC and insurance related provisions

[delta @deltafundc]

@borrowed_ideas 🎯🎯

[delta @deltafundc]

@MF_Camillus indeed - not a great macro setup. however, $nu has great bottom-up qualities (principality/low and grow/short duration assets with a huge low-cost deposit franchise etc). nu should emerge of a crisis stronger, not weaker. overthinking 2027 is prolly a pod-brain type of mistake

[delta @deltafundc]

@evrgn11112231 nice pts. though both have some degree of ads exposure (~2% gmv) i like meli and dash here. both are under-earning and have great mgmt teams. my concern with dash is their right to earn in grocery ($2b losses) in this agentic world. any thoughts?

[delta @deltafundc]

@MF_Camillus Fair points. My hunch is that they’re looking at it as part of their “new” mandate. It’s a low-cost access to full due diligence on a competent player in Europe - may help them learn some lessons on the region

[delta @deltafundc]

@Leonardootero61 @nicbstme regarding the supply side, I think $NVDA, with alpamayo ("fsd for all"), is already targeting to lower the barriers to competition/entry in this market. competition will come. will Uber benefit from this? idk. but I also dk if Waymo/TSLA will be great LT businesses

[delta @deltafundc]

@Leonardootero61 @nicbstme yeah, my point is that with a lower cost per mile and broader adoption (kids and women feeling more comfortable taking a ridesharing car), this industry multiplies its current size

[delta @deltafundc]

@Leonardootero61 @nicbstme in other words - to support your hypothesis, this industry should trend toward a winner-take-all (or winner-take-most) outcome. auto never trended this way. why would that be the case now - waymo’s software? regulations? (disc: I do not own $uber)

[delta @deltafundc]

@Leonardootero61 @nicbstme yeah - but the bull case here is that this tech will probably reach a "good enough" bar and be in every new car of the world. in this (likely imo) scenario, cost per mile collapses, then undercuts the tco of a car and competition erodes Waymo economic profits

[delta @deltafundc]

@Larryjamieson_ agree - but my hunch is that there’s some pareto on (professional) hosts vs. GBV and you’ll probably see more of these guys in Booking’s alt accommodations inventory. in this world, it’s hard to hold this “exclusivity” moat

[Felipe Barros @FelipeBMSa]

Essa regra de fato existe e pode ser impeditiva nessa operação Richarlison. Caso, de fato, eles ja tenham batido o limite existem esses caminhos:

- Vasco comprar o jogador
- Jogador rescindir lá
- Tottenham vender por um valor “simbólico” e colocar uma taxa de recompra “simbólica” ao fim do ano.

Este último cenário poderia resolver, mas envolveria bastante conversa e a possibilidade, no fim do ano, do Tottenham ficar “na mão” do jogador caso rejeite o “novo” contrato.

Complexo…