Great time chatting about my big looser - Disney. My main thesis that parks had infinite pricing power is no longer the case. So, I'm moving on. If you have a new thesis and want to buy it down here, cheap, losing money in streaming, unclear if Igor will pull it off again, go for it. I have other things I want to do with my money.
Also, we talked about Affirm, which I think is not a commodity as many say, but it's still losing money.
Finally, Instacart is really intersting because they can make something called a profit. Sure, it's really because they are selling ads versus being profitable delivering groceries. But ask yourself, does it really matter? What Instacart ONLY made money selling ads and never made money delivering things?
Overall these stocks represent core ideas in markets - that streaming has killed the easy profits of cable and the system won't get fixed anytime soon, that the consumer may not be as strong next year as today, and that firms in the gig economy need to figure out how to stop losing money. How you play that or not is up to you.