Jon Hook

Mostly posting on stocks, Voss Capital

[Jon Hook @jonrice80]

@TMTLongShort So when Anthropic raised prices that meant "more compute" and now that OpenAI is lowering prices that's also "more compute.".

Do I have that right?

Is there ever a price maneuver that would concern you?

[Jon Hook @jonrice80]

@TechFundies @hoosier_to I am very confident I am not taking full advantage of it, however that's another area I think $FDS needs to work on...the trial felt rushed and a bit chaotic.

[Jon Hook @jonrice80]

@TechFundies There's also a fair bit of overlap in what I already export out of Factset into Excel. For instance, I've spent a long time building out a Factset FDS code comp table. It's not clear just how much more valuble this is to that.

[Jon Hook @jonrice80]

@TechFundies I think it's useful and has potential but needs to be more comprehensive in what is accessible. As an $FDS investment, I do wonder whether it's a short term win but longer term commoditization, as the amount of proprietary data Factset actually has is pretty limited.

[Jon Hook @jonrice80]

@TMTLongShort Any investable companies you are aware of attacking this theme directly?

[Jon Hook @jonrice80]

@TeladocHub I've enjoyed following your account as well. Would be curiuos if you disagree/have any pushback.

[Jon Hook @jonrice80]

These guys are sharp from what I've seen so far. Well articulated long thesis for $TDOC if you go through their thread. Basically BetterHelp is being valued at less than $0 while showing signs of a successful biz model transition.

[Pineal Capital Management @pinealcapital]

In March, we published an open letter to the Board and Management of Teledoc Health $TDOC #Teladoc; for those interested, the letter can be found here - but we wanted to share some further thoughts following recent Q1-26 results - 🧵👇
https://t.co/vP6rb3G67Q

[Jon Hook @jonrice80]

@bucketshopcap When they start getting materially punished for the spend.

[Jon Hook @jonrice80]

@gromitcap @27XVII But is it even incremental gross profit? They are still spending exploding capex figures even for the inference, which would then trickle down as depreciation that wouldn't show up in that 70% number. Inference may be more efficient, but it's not free.

[Jon Hook @jonrice80]

@3Plantey2 It's a response to the dumb claim that human agents are going away. If you believe that, their TAM actually explodes higher.

[Jon Hook @jonrice80]

@jakelenertz_ Do Cy Young winner's baseball savant page usually look like this? Expected ERA of 4.5.

[Jon Hook @jonrice80]

@andyaschmidt @DrJoelGator So you're conceding it's not actually a danger to any child who took the vaccine so then...why require it? Everyone can make their own decision and be done with it.

[Jon Hook @jonrice80]

@7LukeHallard How do you square this rationale with private "AI native" companies trading at 100x ARR? Wouldn't they have the same terminal value issue?

[Jon Hook @jonrice80]

@rubicon59 You understand SBC is amortized right? Meaning 2/3rd of the expense is from previous years when the stock price was much higher.

[Jon Hook @jonrice80]

@rohanpaul_ai @altcap How do "compute margins" compare to actual gross margins?

[Jon Hook @jonrice80]

@27XVII I'd say tough call in particular for "FCF inflection" companies who feel they have an ecosystem/platform of products but are getting hammered for not enough immediate FCF (more on the SMID side). Maybe almost all SMID need to be consolidated.

[Jon Hook @jonrice80]

@27XVII Seems like FCF-sbc maximization makes sense if you determine you're one of the consolidated, but if you're the consolidator, the right move might be to do the opposite, step on the gas with product dev and sales distr. Tough call to figure out which one you are though.