Andrew Walker

Andrew Walker × Hugo Navarro

Europe’s July 2026 DMS mandate reinforces Seeing Machines’ and Smart Eye’s duopoly, while SEE trades at roughly 11x Navarro’s mid-range FY27 FCF estimate.About $55M of largely fixed opex creates operating leverage as volumes rise, while naturalistic data supports the moat.Risks include the $55M convertible due in October and weak Fleet conversions; a white-label licensing deal is not yet landed.

Andrew Walker

Strategy’s $300M stock and $100M Bitcoin sale funded roughly $80M of STRC preferred purchases while it traded above NAV, reviving the case for a capital-structure reset.Situational Awareness’s 10x AI long/short trade blew up after repeated pressing without rebalancing.Former Bitcoin-miner power shells near CoreWeave or Meta contract DCFs may offer upside, subject to credit, capex, power and GPU risks.

Andrew Walker × Adam Wyden

At $7.40, Wyden frames Stagwell at roughly 4.9x 2027 EBITDA and a 22% 2027 free cash flow yield, versus $18-$26.50 under cited comparables.Large-client complexity and agency data underpin Wyden’s AI defense, while buybacks may be catalysts.Driven Brands’ Take 5 generates roughly 40% new-unit cash-on-cash returns, but debt, EV adoption and corporate costs remain unresolved risks.

Andrew Walker

SpaceX’s $60 billion Cursor acquisition puts FTX/SBF’s roughly 5% stake in focus, while Andrew Walker argues the apparent VC “grand slams” may reflect fraud-funded access and brand effects.Walker argues AI may reward deep expertise and trusted brands as slop and second-hand hallucinations spread, while Polymarket’s MicroStrategy resolution exposes unresolved gray-area and reflexivity risks in thin markets.

Andrew Walker × Jonathan Cohen

YouGov trades at roughly six to seven times EBITDA on a $500M EV after being labeled an AI loser, despite a 30-million-person, 60+ country, 20-year attitudinal data set refreshed daily.Cohen argues auditable synthetic data can lower the cost of its $50–100k products, while YouGov’s buyback conversion and Anthropic usage offer catalysts; synthetic-data reliability and pricing power remain key tests.

Andrew Walker

Amadeus has roughly 50% share in core segments, 400+ airline connections, and mission-critical IT costing around 1% of revenue, but trades at 15x earnings versus 22–24x historically.AI may improve productivity rather than replace Amadeus; Google’s partnership supports the distribution moat, while 8% topline and 15% EPS growth imply close to a 20% return over three to four years.

Andrew Walker

Walker sees a 10% YTD market rise despite war, energy prices, deficits, and rising rates, with more than all gains from the top 20 stocks.Memory at 20x tangible book faces supply responses from Chinese fabs, oligopoly break-up, hyperscalers, or engineering around bottlenecks.He also flags AI eroding qualitative edges and MSTR’s preferred-equity machine if Bitcoin falls from 75,000 to 50,000.

Andrew Walker × Deiya Pernas

Down over 90% from its $6–7B valuation, Sprout Social trades at 0.6–0.7x EV/sales while guiding to 10% growth and Rule of 40 within eight quarters.API and compliance-sensitive workflows may defend switching costs, but agents could weaken them.Super-voting expiry on December 17 makes governance, restructuring, or a sale key variables.

Andrew Walker × Marcelo Lima

Marcelo Lima calls the SaaS-pocalypse a perception panic: Claude Code increases incumbent engineers’ leverage while Salesforce, ServiceNow, Atlassian, and Adobe are priced for zero or negative growth.Governance, SOC 2, trust, sales, and liability remain enterprise moats, but improving AI, delayed Salesforce adoption, insider-buying failures, buybacks, and stock compensation keep the platform thesis unresolved.

Andrew Walker

Walker says beaten-down SaaS may not be cheap when stock compensation creates untenable dilution and AI could drive software terminal value to zero or below.His bar requires evidence against displacement rather than valuation multiples, while he considers LEAPS in Microsoft, Meta, Amazon, and Google as insurance.