Back on the Peloton

🌞GM🌞

Big tech earnings keep rolling in. We’re talking cybersecurity, democracy, and earnings this morning.

Let’s jump in—

TECHNOLOGY 🦾

Verizon’s 2022 Data Breach Investigations Report noted that ransomware attacks rose 13 percent that year—more than the past five years combined. These breaches included attacks that threatened public health and safety, with several hospitals across the United States forced to cancel surgeries and divert patients because they were locked out of their systems (FA)

🧿: We'll keep pounding the table re: cybersecurity. Spending on cybersec will increase at the enterprise and consumer level for the time being. ____

Intel executives will take staggered base-pay cuts just days after the chipmaker reported abysmal fourth-quarter earnings, the company said Wednesday. It's also cutting benefits valued in the tens of millions for lower-level employees. (CNBC)

🧿: Intel has been in decline since 2020, losing market share to Apple and other chipmakers more focused on mobile and off-site computing. This belt-tightening strategy however has left other company's tech employees wondering if they could have taken a pay cut instead of being laid-off.____EARNINGS 💵

Wall Street loved Meta’s plan to make 2023 its “year of efficiency.” Facebook’s parent company beat earnings expectations and announced share buybacks that sent its stock price up almost 20% (RT)

🧿: One of our beloved model portoflio holdings. For the last year+ the value visible on Facebook's balance sheet reminded us of Exxon Mobile when oil prices were negative. FB will have very little room for error going forward and will need to fight for user activity in a fierce, cost-cutting market as investors demand profitablility, growth, and/or margins. ____

Apple, Alphabet, Amazon, Ford, ConocoPhillips: The three tech giants, the Detroit auto maker and the energy behemoth are among companies set to report earnings Thursday. (WSJ)____

Peloton beat Q4 revenue estimates and posted a declining net loss on strong subscription revenue growth which overtook product sales for a third straight quarter; their stock rose 26.5% (CNBC)🧿: Peloton is a stock that our analysts hated on the way up and started to love on the way down as management teams made changes and the focus shifted to subscription growth over bike sales. If Peloton can hold on to the brand power they've built over the past years and parley it into owning the fitness streaming ecosystem it could be one of the best turnarounds of the year. _____

MACRO 🌎

Uruguay is the strongest democracy in the Americas. The South American nation topped Canada and the US in an annual ranking of the world’s most, and least, democratic countries. (QZ)____

DIGITAL ASSETS ⚡️

The California DMV is putting car titles on the blockchain. The Department of Motor Vehicles, a launchpad for cutting-edge tech? (CT)

🧿: Banks, governments, and consumer brands are opening channels for blockchain infrastructure. Again, we care about utility first, price last.____

MEME DIGESTIF☕️

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