John Barrett, CFA

Heading to TomorrowX Summit 2026 in Austin, Nov 17-18. Two days with the CEOs, investors, and operators moving TMT. @TomorrowXSummit #tomorrowXsummit2026 tomorrowxsummit.com

Offensive explosion at Eldredge powers Firebirds to first win capecodleague.com/orleans/ne… via @OfficialCCBL

Nokia doesn’t make phones anymore. So how does it make billions? @CNBC cnbc.com/video/2026/05/28/no…

I understand LRCX has proven resiliency and MU is considered cyclical and close to peak earnings. However, LRCX at 43x vs MU at 6x seems like a layup. Call me crazy!

Is it me, or is "The Information" news on the semi business suspect? The hit rate from them on accuracy is less than 25%. Maybe 10%. Maybe 5%.

$BE (Bloom Energy) well positioned for power demand driven by NVDA's presentation today, especially with power demand for Rubin!

Intel ($INTC) screwed over Nvidia ($NVDA) many times, especially 15 years ago on some licensing issues. Kudos to Jenson for not letting personal bias get in front of a smart business/political decision. Strictly Business!

$PSTG short report from Kerrisdale was weak. Flash continues to gain share with hyperscaler spending. Follow the numbers. Here’s the gist of Kerrisdale’s short thesis on Pure Storage: Core claim: Pure’s growth is decelerating, differentiation is fading, and its portfolio is poorly positioned for cloud/AI spend. The flagship “flash beats disk everywhere” narrative is overstated. Hyperscaler reality check: The Meta deal is a narrow, replicable software license; Meta won’t be buying Pure boxes (it buys flash directly/white-box hardware), and the engagement hasn’t broadened. Prospects at other hyperscalers are “dim.” Kerrisdale cites Meta Q&A clarifying Pure isn’t in Meta’s latest 24k-GPU cluster, and notes AWS/Google don’t need Purity while Microsoft uses WEKA for AI workloads. AI storage competition: For AI-centric file/object storage, players like DDN, WEKA, VAST, and Hammerspace are better positioned and run on commodity hardware. TCO math (bulk/cold storage): Their model says HDDs still have a ~5–6× total-cost-of-ownership advantage vs. flash at hyperscale—so Pure//E isn’t a no-brainer for the biggest buyers. Enterprise market maturing: In Pure’s core AFA enterprise market, share is stagnant; growth is single-digit and highly competitive (Dell/HPE/NetApp). “Software” isn’t SaaS: Much of the software line is maintenance/support or prepaid upgrades; it doesn’t merit SaaS multiples.

DeepSeek FAQ stratechery.com/2025/deepsee… via @stratechery

Just watched PBS special w Cyndi Lauper. Incredible range, incredible artist!