18 months in, up 200%.

Am I selling?

Not a single share.

Because $SOFI is just getting started.

🚨 Here's a brief overview of my investment thesis: 1) The One-Stop Shop for All Things Finance

$SOFI is disrupting traditional banking through its all-in-one financial platform, offering digital financial services such as banking, investing, lending, and more.

For enterprise clients, it also offers banking-as-a-service solutions through its technology platform, Galileo.

$SOFI's competitive moat stems from:
- its vertically-integrated fintech stack — no other company offers such a complete suite of financial offerings.
- a strong brand presence among the younger demographic, enabling $SOFI to acquire customers early on and cross-sell its products over time.
- a cost advantage over peers, fueled by the Financial Services Productivity Loop, banking charter, and neobank structure.

🧵 I initiated a position in $ZETA a few weeks ago. Here's why:

1) Full-stack AI-powered Marketing Cloud

$ZETA offers an all-in-one marketing platform, complete with three core products, namely:
- Customer data platform with 85% to 90% first-party data
- Marketing automation software powered with AI
- Demand-side platform for programmatic ad buying

Most adtech/martech players lack one or two of these products — $ZETA has all three.

By combining these three products, $ZETA gives marketers the power to deliver cost-efficient, hyper-personalized, and highly automated marketing campaigns that generate significant ROI.

This is why 44% of the Fortune 100 use $ZETA. 2) Only 1% Market Penetration

In the last four years, $ZETA grew Revenue at a 30% CAGR, and in the next four, the company is expected to grow at a 20% CAGR.

Per management, $ZETA's customers spent over $100B in marketing and advertising last year, and with $1B of Revenue in 2024, $ZETA's current market share is only 1%.

Fueled by AI tailwinds and current business momentum, management sees their market share expanding to 5% to 15%, which is at least a 5x from here.

Some of $ZETA's clients are already allocating more than 5% of their wallet share on the ZMP, so getting to a 5% market share is very much possible.

As a matter of fact, $ZETA is growing at the fastest rate among other players like $CRM, $HUBS, and $KVYO, indicating market share growth.

In other words, it's just the beginning for $ZETA.

🧵 Here's my rapid-fire investment thesis on $NBIS

1) Strong Moats in the AI Space

$NBIS is building AI factories to service the AI revolution.

I believe $NBIS has three competitive advantages, namely:
- a full-stack AI infrastructure with complete control of the entire AI value chain, from data center design, to in-house servers, to its proprietary cloud platform.
- the best price-to-value AI infrastructure-as-a-service offering in the market, with one of the most affordable prices while delivering top-quality performance.
- high barriers to entry, as $NBIS has access to scarce resources, such as $NVDA GPUs, skilled AI engineers, and massive amounts of capital. 2) The Road to 1GW+ Capacity

$NBIS is in hypergrowth mode, growing Revenue by high triple digits.

More importantly, the company has a massive growth runway ahead as management aims to expand capacity to more than 1GW of capacity — a 40x increase from the start of 2025.

1GW of capacity would potentially translate to $10B of Revenue. Management aims to reach this level of capacity within "a few years", so if they can pull it off, it'll make $NBIS look tiny today.

🧵 Here's my rapid-fire investment thesis on $HIMS

1) Solid User Growth

$HIMS is rapidly growing its Subscriber base, which increased by 45% year over year to 2.2M+ in Q4.

User growth is a leading indicator of future Revenue growth and, thus, earnings growth. 2) Dominant Market Position

$HIMS continues to gain market share in the crowded telehealth space, implying a superior value proposition, marketing execution, and distribution.

As of 2024, $HIMS has a dominant market share of 47%+.

Here’s a quick thread of what $HIMS Revenue and valuation might look like WITHOUT GLP-1 contributions.

First, Subscribers.

In 2024, $HIMS grew Subscribers by 41% in Q1, 43% in Q2, and 44% in Q3… so let’s assume 44% YoY growth in Q4, which brings year-end Subscribers to 2.2M. Management already mentioned that GLP-1s drove only 4pp of Subscriber growth in Q3.

So without GLP-1s, Subscriber growth would have been 40%.

That said, I’ve assumed 35% growth in 2025, declining to just 12% growth in 2033.

By then, $HIMS should have about 11.4M Subscribers.