“You'll put as much care and attention into your AI agent as you do your website or your mobile app” - Bret Taylor Bret Taylor’s resume is … impressive: Built Google Maps CTO @ Facebook (in key years) Chair @ Twitter Founder @ Quip Co-CEO @ Salesforce Sitting Chair at OpenAI

OpenAI o1-preview and o1-mini are rolling out today in the API for developers on tier 5. o1-preview has strong reasoning capabilities and broad world knowledge. o1-mini is faster, 80% cheaper, and competitive with o1-preview at coding tasks. More in openai.com/index/openai-o….

Buffett's big buys:

And there it is…

Late to the party, but I'm interested in the prospects of a China recovery following the announced stimulus. Instead of Chinese equities, I've decided to play it through $LVMH. ~20x earnings, APAC ex JP (~30% of revenues) down 10%+ in recent quarters. Happy to join team Arnault.

$IDT Woah. NRS. What a gem. Re: «NRS added 1,800 net new active point-of-sale (POS) terminals (…). Recurring revenue increased 42% to $26.7 million (…). Income from operations jumped 252% to $6.0 million, and Adjusted EBITDA increased 195% to $7.1 million»

IDT Q4 '24 & FY '24 results $IDT: Q4 '24: ▫️Consolidated Revenue +1.7% *NRS +42% *Fintech +41% *net2phone +11% *Traditional -6% ▫️Adj. EBITDA +39.5 % *NRS 195% *Fintech $1.5 million (vs. -1.2m) *net2phone +170% *Traditional -12%

Literal 50 bagger from the time this was posted. Could have retired.

Snapshot of a Strong $SHOP Quarter:

$SHOP growth has accelerated. Everything seems to be in the right direction. Very impressive quarter.

What do you do when a business you hope to own for decades begins to trade at a stretched valuation? Do you trust your assumptions enough to trim/sell and then buy it back? Or do you stomach the inevitable ups and downs over what will be a very long holding period?

Today, we break down Fastenal. What started as a small retailer of nuts and bolts in Minnesota has evolved into a mission-critical supply chain partner for its industrial customers. The business sports a nearly $50 billion market cap, produces nearly $8 billion in sales, and

Very nuanced and thought provoking episode. Thanks for having this conversation in public, modest proposal, Chetan Puttagunta, and Patrick OShaughnessy

Breaking: The 50X Podcast is back for Season 2! After a nearly three year hiatus (sorry, we’ve been busy…) we’re returning with an in-depth look at “one the greatest private equity investments ever” with a MOIC of over 100 times 50x… Who do you think it is? Let us know below!

5,502,284%

You can now buy products directly on ChatGPT. Launched with merchants like Etsy; Shopify and more coming soon. Merchants can integrate using the Agentic Commerce Protocol, a new open standard we built with Stripe: chatgpt.com/merchants

$IDT FY26 EBITDA guide $141M incl. ~$72M from legacy. Value legacy at 7× = ~$500M. Growth engines = NRS ~$800M (20× EBITDA), net2phone ~$210M (13×), fintech ~$130M (11×). Add $220M cash. Total equity ≈ $1.9B (~$73/share) vs ~$50 today.

AI agents will be a big part of how we shop in the not-so-distant future. To help lay the groundwork, we partnered with Shopify, Etsy, Wayfair, Target and Walmart to create the Universal Commerce Protocol, a new open standard for agents and systems to talk to each other across

The avg age of the software biz acquired by $CSU is ~23 years old and looks like this and you think their customers are going to switch to your AI vibe coded app generated over the weekend?!?!

Ask folks who work in software companies how many SaaS vendors they’ve replaced with internally-developed, ‘vibe-coded’ software.