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@morris
Morris Franco
11 following10 followers
$IAC Stub at 52 week low
This is the approx. stub value for IAC which includes Dotdash Meredith, Care.com, Ask Media, minority stake in Turo, etc.

Christopher Halpin, the Executive Vice President & Chief Financial Officer of IAC, presented at Cowen’s 50th Annual Technology, Media & Telecom Conference in early June and mentioned Adjusted EBITDA for Dotdash Meredith is still expected to be above $300 million, “We feel very good about that.”

Regarding the $450 million guided for 2023, “that is still our target, things that.. we can control we feel good about, and then the broader macro environment when you’re looking at the full year at that point, people ask a lot of questions, we can’t answer those. But we are still definitely targeting $450 million of digital EBITDA next year.”

The market clearly doesn’t believe this is a likelihood as shown by the stub value below.
Will Dotdash Meredith meet expectations?
0%Yes
80%No
20%Only the 300 million for FY22

5 VotesPoll ended on: 7/28/2022

Yeah it’s been painful but things are looking good/interesting under the hood so time will tell
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“You’d be irresponsible not to be a member.” ~Jeff Bezos $AMZN
JPM research on the true value of Amazon Prime is quite incredible

$AMZN currently trades for around 20x JPM 2023E EBITDA for AWS without including any value for retail.
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I recently opened an $AMZN position so naturally I expect it to 10x in the next several months to recoup my heinous losses elsewhere
+ 1 comment
Inflation
Inflation seems to be out of control and people are starting to anticipate a 0.75% rate hike. This picture started circulating around twitter:

Based on this, If you believe that the worst of the fallout of the Russian invasion is at hand, the effects of the pandemic will fade (supply chain), and the fed can use monetary policy to slow growth in the economy so it doesn’t blow past full employment and cause wage price problems to manifest- inflation should moderate.

Is that all going to happen? No clue but over time it seems more then likely.
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The intercompany sales of HBO Max to AT&T's Mobility segment were $224 million in 1021, which represented ~11% of HBO Max subscription revenue.

Altria falls because Morgan Stanley “anticipates greater pressures from gas prices and weaker consumer sentiment will weigh in cigarette volumes and enhance trade down risk”

Am I the only one that feels Cigarettes are one of the only things that consumer sentiment has very little weight on…

Haven’t read the full report so may be really off

A conversation about $NFLX
I saw a conversation take place on twitter discussing $NFLX moat from @daniel_tokoto
Short summary:
“Would you miss $NFLX if it disappeared tomorrow?”
“Plenty of alternatives. It would be a minor inconvenience to my family but not a big deal if it's gone”
Don’t think I could say the same about the iphone…

You should turn this into a poll here on Commonstock Morris, I did a similar thing with Spotify once.

Netflix would genuinely be a tough one, but i'd live. iPhone, NO WAYYYYYYYYY.
+ 3 comments
I have heard people say social media has taken leisure time from from tv, seems more like gaming. Take into account that 2020 was a covid year.
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I wonder how the data would look if we separated each generation
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