Raveen Kuhadas

Investor| Writes about investing and strategy |Equity Research

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[Raveen Kuhadas @rkuhadas]

But completed tasks are not yet customer outcomes — and committed revenue grew just 14% over the same period.
Closing that gap is the underwriting test: will AI usage translate into revenue growth, retention and sustainable gross margins?
Full deep dive: https://t.co/OT4dlfMr3p

[Raveen Kuhadas @rkuhadas]

It took Universal Music Group 16 years to recover from the $0.99 song.
AI platforms are now running the same play on SaaS.
A short thread on the Usage-based Tax — and how SaaS companies like @salesforce are trying to escape it:

#SaaS #AI #Platforms

[Raveen Kuhadas @rkuhadas]

$CRM is trying: ~$15bn of announced acquisitions (Informatica, Fin, Own, Contentful) to move from system of record to system of action.
Its new metric, the Agentic Work Unit, counts completed tasks — and AWUs grew 7x in the past year.

[Raveen Kuhadas @rkuhadas]

You can read more about how @AmericanExpress won the premium card price war and implications for pricing in the land grab phase of AI below!

👉 https://t.co/yz1UZn4iT3

[Raveen Kuhadas @rkuhadas]

@AmericanExpress's hybrid subscription and usage based pricing will become increasingly topical in an AI world. With competitor Chase Sapphire’s recent pricing retreat, Amex provides investors and tech companies with a 3-step playbook for the “land grab” phase of AI .🧵

[Raveen Kuhadas @rkuhadas]

3️⃣: Monitise your data advantage: The ability to assess and attribute user activity to commercial outcomes captures more of your customers’ budget. Amex’s closed-loop network achieved high ROIs for advertisers, which supported generous rewards and higher transaction pricing.

[Raveen Kuhadas @rkuhadas]

Will @Microsoft's AI investments pay off? My take on what Microsoft’s new Copilot pricing strategy and software bundle may mean for investors. Check out the article in my link-in-bio
#SaaS #Softwarebundling #AI

[Raveen Kuhadas @rkuhadas]

@FlintCasey Thanks Casey! DM’d you

[Raveen Kuhadas @rkuhadas]

Therefore, winning in Search requires winning on Customer Acquisition. LLMs need to rent their computing power. Google’s scale powers its customer acquisition investment to grow its advantage over time.

Read about Google’s AI advantage in my latest article! (link in bio)

[Raveen Kuhadas @rkuhadas]

How serious is the threat of LLMs like ChatGPT to Google Search? So far, @Google's competitive advantages in the breadth of its applications and ability to invest in infrastructure have kept it ahead of the game. #AI #LLMs #GoogleSearch

[Raveen Kuhadas @rkuhadas]

Here’s the catch: Only 20% of Search queries are monetisable. That’s because monetisation relies on high-intent queries. This is where Google thrives, thanks to its unmatched understanding of user behaviour through its numerous apps like YouTube and Maps.