It’s a UCLA sunset out here in Columbus tonight. This is unfiltered.

Hey Wisconsin!

Mood

Coatue believes AI companies should be valued on Pre-Training Cost Adj. EBITDA. I wholeheartedly disagree. Training costs cannot just be turned on ‘n off. Training costs are like Maintenance CapEx - you can’t turn them off bc then you’re depriving your business of the exact thing it needs to sustain itself and remain competitive. AI companies move incredibly fast, and have to continuously be investing in training bc if they do not, they will fall behind the competition. Valuation advice from VCs should be taken with a grain of salt. Just my 2c.

Id take a look at my profile and search $NNBR on my profile.