Software Stack Investing

Awesome! So happy to be part of this community.

Thanks amazing, Toby!

The hyperscalers delivered better than expected results in Q4, reflecting a moderation of optimization headwinds and increased demand for AI services. I review the earnings reports and consider the implications for the rest of software infrastructure. softwarestackinvesting.com/q…

Thanks - yes, I agree. The list of potential adjacencies is extensive as you move beyond core runtime and data infra.

Hi Ed - thanks for the kind words!

Thanks - appreciate the feedback.

With cloud spend optimization moderating and support for AI workloads, data infrastructure providers have a better outlook in 2024. I examine how Snowflake, MongoDB and Confluent are positioned and potential growth drivers this year. $SNOW $MDB $CFLT softwarestackinvesting.com/d…

You are welcome - appreciate the feedback.

Hi - thanks for the feedback. Yes - I plan to continue coverage. Had a few other areas of focus outside of analysis that have taken up considerable time recently.

Was randomly watching Bloomberg TV at noon and you popped in. Well done! Great coverage and solid commentary. Helpful perspective on AMD's results. Congrats.

Thanks for the feedback!

Cloudflare delivered a better than expected earnings report in Q2, with particular strength in large customer additions and improved operating leverage. In this post, I review the results and gauge the impact of their expanding product offerings. $NET softwarestackinvesting.com/c…

Fair point - worth watching. I sometimes find it difficult to connect anonymous public employee reviews to actual company performance. Personally, I have worked at companies with great reviews that perform terribly and vice versa. Also, the layoff in Jan would factor into this.

No problem - glad you found the post helpful.

Thanks for the kind words, Ed. Glad the content is helpful.

Ha, ha. Wish it were that easy!

Driven by growth in large customers, elevated NRR and improving operating leverage, Confluent delivered another quarter of strong results in Q2. In this post, I review the report and check in on their evolving product strategy. $CFLT commonstock.com/post/7dbe790…

Thanks - Workload optimization has always existed. The impact is more acute now because much of the typical post-launch tuning was deferred during Covid. Also, most cloud native companies over-provisioned. After optimization debt has been paid, we should return to steady state.

Hi - I was looking for more on revenue and customer activity. Profitability improved further and product adoption metrics maintained their trajectory. May take another 1-2 q's for optimization headwinds to fully subside. Like new product announcements from Dash. Still invested.

Hyperscaler Q2 earnings were better than expected, with management commentary reflecting a moderation in customer workload optimization. In this post, I review the results and examine implications for the rest of software infrastructure. commonstock.com/post/6496452…