@416ash retweeted
$SOFI just dropped a monster Q3 2026 earnings report, smashing estimates across top and bottom lines š
⢠Adj. Net Revenue: $1.37B (+44% YoY) vs $1.26B est
⢠Adj. EPS: $0.18 (+64% YoY) vs $0.17 est
⢠12th consecutive quarter of profitability
Here is a breakdown of the key data from the presentation š§µš
@416ash retweeted
AI companies are hitting revenue, profitability, and return milestones in months that used to take years.
Iāve covered companies through multiple market cycles at hedge funds, including Citadel and Millennium.
Here are the key slides from our latest AI Value Chain Webinar š
@416ash retweeted
I'm old fashioned but I don't think journalists should be telling people ("joking") to go kill themselves
real talk @BradMBradford, you ran a hell of a race. itās prob hard to not have really dark thoughts but please know you are alone and you should give into them
@416ash retweeted
$SOFI Q3 2026 visualized:
⢠Net revenue: $1.39B (+44% YoY)
⢠After credit losses: $1.37B (+44% YoY)
⢠Credit losses: $15M (+60% YoY)
⢠Net income: $241M (+73% YoY)
Revenue streams:
⢠Net interest: $929M (+59% YoY)
⢠Fees other: $456M (+21% YoY)
This should be a movie!
In 1941, a Spaniard walked into the British embassy in Madrid and offered to spy on the Nazis.
The British turned him down.
So he went to the Germans instead, pretended to be a loyal fascist, and got hired as a German spy. His plan was to lie to them for the rest of the war.
It worked better than anyone could have imagined.
His name was Juan Pujol GarcĆa. Before the war he had tried his hand at running a chicken farm and a movie theater. He had no spy training. What he had was a deep hatred of both fascism and communism after the Spanish Civil War, and an incredible imagination.
The Germans gave him a codename, invisible ink, money, and orders to go to Britain and recruit spies.
He didn't go to Britain.
He went to Lisbon, Portugal, and made everything up.
Using a tourist guidebook, maps, magazines, newsreels, and a British railway timetable from the library, he wrote long, detailed reports about life in England. Military movements. Morale. Ports.
He'd never been there. He made mistakes. He didn't understand British money. He once reported that dockworkers in Glasgow would do anything for a liter of wine.
The Germans loved him anyway.
Then British codebreakers reading German messages noticed something strange. The Germans were hunting for a convoy that didn't exist, based on a report from some agent in Britain they'd never heard of.
The British went looking for this mystery spy. They found Pujol. In 1942 they finally took him on and brought him to London.
Now he had real help. MI5 gave him the codename Garbo, after the actress, because they thought he was the greatest actor in the world.
Together with his British handler, Pujol built a fake spy network for the Germans. It eventually had 27 imaginary agents. Each had a name, a personality, a job, and a backstory. A Welsh nationalist. A Venezuelan student. A Greek sailor. Some of them recruited their own imaginary sub-agents.
When they needed to explain why one agent had gone quiet, they killed him off. They even put a fake obituary in a Liverpool newspaper. The Germans reportedly paid a pension to his widow.
Who also didn't exist.
Then came D-Day.
Hours before the landings, the British let Pujol send a message warning the Germans that the invasion was coming in Normandy. It was timed so it would arrive too late to matter, but it made him look brilliant.
Three days later he sent the most important message of his career. Normandy was a trick, he said. The real invasion was still coming, at Calais, led by a huge army under General Patton.
That army was fake too. But the Germans believed him.
German forces that could have been rushed to Normandy were held back near Calais for weeks, waiting for an attack that never came.
The Germans were so grateful they awarded him the Iron Cross.
A few months later, King George VI made him a Member of the Order of the British Empire.
He's one of the only people known to have been decorated by both sides of the war.
After the war, afraid of revenge from surviving Nazis, he faked his own death from malaria in Africa and disappeared to Venezuela, where he lived quietly running a shop.
For decades the world thought he was dead.
In 1984, a British writer tracked him down. Pujol came back to Normandy for the 40th anniversary of D-Day and met veterans who had landed on the beaches.
Some of them thanked him.
@416ash retweeted
Anthropic filed its S-1 today to list on Nasdaq as $ANT.
Here are 10 key data points from the filing:
1⣠Quarterly revenue grew ~31x, from $376M in Q1 2025 to $11.6B in Q2 2026.
2⣠Compute and infrastructure costs grew only ~6x over that period, to $5.6B.
3⣠Revenue per $1 of compute spend rose from $0.40 to $2.08. š
4⣠Customers spending $100K+ a year rose from 950+ to 11,900+ in twelve months.
5⣠There are 1,900 customers spending $1M+, and about 250 spending $10M+; Net revenue retention was ~900%: year-ago customers now spend about 9x as much.
6⣠The top five customers were ~21% of Q3 revenue, down from ~36% in Q1 2026, indicating a diversifying customer base
7⣠Nearly half of revenue comes through cloud marketplaces; the other half is customers buying through them.
8⣠Operating income at $974M in 2Q ā26 after five quarterly losses.
9⣠Total of 7 compute deals including $120.5B with SpaceXAI and up to $114.5 billion with Google through 2033)
š Cash was at $131.7B on June 30 and is raising another $100B+ with this offeringā¦likely to need to do more raises in the futureā¦by our math the company has commited to spend $600B+
Revenue for Q3 and total committed spend are still not reported.
Those are the next numbers to watch.
The full S-1 is linked in the comments.
@416ash retweeted
Stepping up as POA: Navigating Aging, Advocacy and Unexpected Care
by Andrea Thompson
fpcollective.ca/stepping-up-ā¦
@416ash retweeted
Parliament is in full swing with a big slate of digital bills: lawful access (C-22), social media ban (C-34), AI regulation and privacy reform (C-36). My Law Bytes podcast this week: a fall update on where each stands and what to watch in the weeks ahead.
michaelgeist.ca/2026/10/the-ā¦
@416ash retweeted
Wonderful job, Mr. Carney. Truly impressive.
By the first quarter of 2026, real GDP growth since Q1 2025 looked like this:
USA: +2.7%
Australia: +2.5%
OECD average: +1.7%
Canada: ā0.1%
Dead last among the economies shown.
We were promised economic competence, investment, productivity and prosperity. Instead, Canada spent a year falling further behind its peers.
Yes, American tariffs are a problem. But Canadaās weak productivity, regulatory burden and investment climate didnāt begin with Trump.
Carney was sold as the man who could fix Canadaās economy. Canadians have every right to judge him by the results rather than the speeches.
Turns out, managing an economy is considerably harder than talking about one. š¤”š
@416ash retweeted
šØ WATCH: Isaiah Martin @isaiahrmartin explains what a trade deficit is to a MAGA moron.
"Michael, you have a trade deficit with McDonald's..."š¤£š
@416ash retweeted
McGillās law school receives roughly 1,500 applications for just 180 spots.
It gave one of those spots to a convicted murderer in his mid-60s, who will never pass the good character requirements to practice, and who violated his parole multiple times.
theglobeandmail.com/opinion/ā¦
@416ash retweeted
Bill C-22 is a dangerous, unnecessary, expansive law, that weakens encryption, makes Canadians less safe, and risks violating charter protections against unreasonable search and seizure.
How exactly does this make "Canada Strong"?
cba.org/our-impact/submissioā¦
eff.org/deeplinks/2026/10/caā¦
@416ash retweeted
Global News should note much more prominently that this poll was commissioned by CUPE Local 416 (Toronto Civic Employeesā Union), who have formally endorsed Chow as their preferred candidate
Toronto election: Chow holding decisive lead over Bradford, new poll indicates
globalnews.ca/news/12118421/ā¦
@416ash retweeted
Among G7 countries, Canada has the highest share of venture capital tied to government.
In 2025, 36% of the money raised by Canadian VC funds went to funds backed by federal programs, compared to 23% in France, 8% in the UK and about 4% in the US.
The @bdc_ca allows the federal government to back Canadian entrepreneurs and fill gaps left by private lenders and investors, including by backing startups directly.
In 2025, it was the source of 3.5% of Canadian VC investment.
Across companies like @XanaduAI, @NasdaqVerafin, and @dwavequantum, the BDC's biggest wins have netted upwards of $10B USD in investor gains.
Thanks to @AnitaAnandMP and her family, much of Canadaās blood work is now done by American companies (Quest/Dynacare/LifeLabs).
When will Canadians know of any breech of our data? Shouldnāt our privacy rights and medical data be re-patriated, and away from U.S. lab testing or blood profiling?
@416ash retweeted
Being named executor of a loved oneās estate can feel like an honour, but itās also a lot of work, and settling an estate typically takes at least a year.
Hereās what to know before you say yes:
moneysense.ca/save/financialā¦
@416ash retweeted
LIBERAL PUMP AND DUMP
Carney's SPACEPORT SCAM made a Liberal Insider a MILLIONAIRE OVERNIGHT.
The Carney Govt funnelled $20M tax dollars to BAIL OUT a near-bankrupt company for NO WORK.
The Board Chair IMMEDIATELY sold INFLATED shares POCKETING $1.8M.
This is CORRUPTION.
This Is Called Corruption
@416ash retweeted
Three cybersecurity incidents in one week:
ā”ļø AI agents are accessing bank accounts.
Major U.S. banks, including JPMorgan, Morgan Stanley and Bank of America, are reportedly grappling with third-party agents accessing customer accounts, with some appearing to act beyond usersā instructions.
Banks are restricting access, with read-only permissions emerging as a possible compromise.
The question: what should an agent be allowed to do on your behalf?
ā”ļø A weakness in the certificates that secure internet traffic - potentially affecting everyone online
Cloudflare reported that affected eMudhra root TLS certificates had a trivially guessable private key: literally the number 4.
An attacker positioned to intercept traffic could use that weakness to impersonate websites or services and potentially read or alter communications.
The fix: remove trust in the affected roots. For most users, that means updating their browsers and operating systems.
ā”ļø PHP vulnerabilities that could expose servers to takeover - affecting companies running servers
PHP powers an estimated 70% of websites, according to the post. The vulnerabilities dubbed āphp2shellā could allow attackers to send crafted requests to vulnerable servers and potentially take control.
That could mean reading, modifying or deleting dataāor repurposing the server for further attacks.
Cloudflare deployed free mitigations, but urged operators to upgrade PHP or remove it if unused. Protection at the network edge doesnāt replace fixing the underlying vulnerability.
These stories expose different problems: agent permissions, broken trust and vulnerable software.
AI adds another layer to an already demanding security challenge. As agents move from answering questions to taking actions, organizations need to know:
āŖļø Which agents can access their systems?
āŖļø What are they authorized to do?
āŖļø How are their actions monitoredāand stopped?
Network security, identity and access management, and application security all have a role in the AI value chain.
For investors, the question is which companies can turn those security needs into durable demand and revenue.
Not every cybersecurity company will benefit equally. Thatās where the investment analysis gets interesting.
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