1) A mental model for high growth investing. As a value investor, it is easy to immediately throw up looking at revenue multiples and call the company expensive without digging in. 2) Humans are not naturally good at appreciating hyper growth compounding so the above exhibit is a good starting point to filter through headline expensive looking companies.

1) Thoughts on $ABT.CN. Super interesting. Trades 12x Fwd headline EBITDA - I think way cheaper on a lookthrough basis as well as on my numbers, MSD topline grower and will accelerate + also has blue sky potential product launching. #fintwit 2) Core tech / differentiation is that their software is plugged into the BIOs of nearly all OEM manufacturers. This means their software cannot be uninstalled or shut down. Legacy use-case is security (think track and trace)

1) Good work on GAN by @puppyeh1 @saharainvesting @GavinSBaker baker and others. Some incremental thoughts 2) Went through the disclosures on gaming spend by state for the ones that allow app-based betting outside the casino (Chart 1). Then I made some adjustments for the population as well as GDP per Capita for the individual states (Chart 2). And plotted them as cohorts (Chart 3).