RT Bloomberg Live (@BloombergLive)As investors navigate AI disruption, geopolitical uncertainty, shifting central bank policy, and converging public and private markets, #BloombergInvest returns to New York with forward-looking conversations from top CEOs, industry leaders, and major portfolio managers.Register Here📈https://t.co/M67O8zRwc7 ...

RT Bloomberg Live (@BloombergLive)As investors navigate AI disruption, geopolitical uncertainty, shifting central bank policy, and converging public and private markets, #BloombergInvest returns to New York with forward-looking conversations from top CEOs, industry leaders, and major portfolio managers.Register Here📈https://t.co/M67O8zRwc7 ...

Core Insights - Sands Capital Technology Innovators Fund reported an 8.4% net return in Q3 2025, underperforming the benchmark MSCI ACWI Info Tech and Communication Services Index, which returned 12.5% [1] - The fund focuses on pioneering businesses that are key drivers or beneficiaries of significant technological changes [1] Company Analysis: Monday.com Ltd. (NASDAQ:MNDY) - Monday.com Ltd. is an emerging provider of project management and workflow automation software, with a one-month return of -29.87% and a 52-week loss of 47.63% [2] - As of November 28, 2025, Monday.com Ltd. had a market capitalization of $7.416 billion, with shares closing at $143.86 [2] - In Q2, Monday.com reported a 27% year-over-year revenue growth and a margin of 15%, exceeding consensus expectations [3] - However, the company fell short on full-year guidance, customer retention, and net adds, with management noting a minor impact from Google's AI on top-of-funnel activity [3] - The stock price decline was viewed as overly punitive, with management indicating that the impact from AI disruption is expected to be short-term and manageable [3] - The company maintains a large, diverse, and engaged user base, with ongoing product innovation and improving sales execution, suggesting an attractive risk-reward opportunity for investors [3]

Core Insights - The article emphasizes the significant impact of AI disruption on major market headlines in 2025, suggesting that companies disrupting legacy industries deserve more recognition [1] Group 1: Industry Trends - AI disruption is a central theme in the market, influencing various sectors and investment strategies [1] - Companies that are innovating and transforming traditional industries are highlighted as key players in the current landscape [1] Group 2: Analyst Background - The analyst, Gary Alexander, has extensive experience in technology sectors, having worked on Wall Street and in Silicon Valley, which informs his insights on industry trends [1] - Alexander has been a contributor to Seeking Alpha since 2017 and has been featured in various publications, indicating a strong presence in financial analysis [1]

Summary of the Conference Call on the China OTA Industry Industry Overview - **Industry**: China Online Travel Agency (OTA) Sector - **Key Focus**: Competitive dynamics and strategic updates within the OTA industry in China Core Insights 1. **High Entry Barriers**: The complexity of building OTA supply chains and service infrastructure creates significant entry barriers, which may take 3-5 years for new entrants to overcome. Established players have clear scale advantages [2][3] 2. **Transportation Supply Chain**: The transportation supply chain is simpler with around 100 airline carriers in China, but the ROI and margins are low due to limited direct monetization through commissions. Revenue opportunities lie in cross-selling value-added services [2] 3. **Hotel Supply Chain Challenges**: Establishing a hotel supply chain is more complex due to nearly 1 million suppliers, including alternative accommodations. Many small and independent hotels require extensive business development efforts [2] 4. **Customer Service Advantages**: Leading OTAs like Trip.com have developed large in-house customer service teams, providing superior service quality through a one-stop shop platform that can address cross-business issues [2] Competitive Landscape 1. **Stable Competition**: Despite new platforms showing interest in the OTA space, the competitive landscape remains stable. New entrants face constraints in supply capabilities, customer service, and user mindshare [3] 2. **Fliggy's Position**: Fliggy has gained traffic support post-Alibaba's restructuring but still lags in hotel inventory depth and price competitiveness compared to market leaders [3] 3. **Douyin's Strategy**: Douyin has shifted from a full OTA model back to a "content + voucher" approach due to slow hotel coverage and customer profile mismatches [3] 4. **JD.com's Early Stage**: JD.com is in the early stages of developing its hotel supply chain, focusing on service provider coordination and system integration [3] AI Disruption Concerns 1. **Limited Immediate Impact**: Concerns regarding AI disruption in the OTA sector are considered overblown at this stage. Current AI platforms are likely to serve as price comparators but face limitations in real-time price retrieval due to OTAs' defensive measures [4] 2. **Long-Term AI Integration**: For AI platforms to facilitate closed-loop bookings, they must improve their supply chains and services, necessitating ongoing monitoring [4] Stock Implications 1. **Earnings Visibility**: The stable competition in the OTA sector supports the earnings visibility of leading companies. The report is optimistic about the OTA sector's prospects in 2026, citing reasonable valuations [5] 2. **Valuation Metrics**: TCOM/Tongcheng is trading at 16x/11x 2026E PE, compared to 14x for the broader Chinese internet sector [5] Risks to Consider 1. **Evolving Competition**: The competitive landscape is subject to change, which could intensify competition [7] 2. **Technological Trends**: Rapid changes in technology and user preferences pose risks [7] 3. **Monetization Uncertainty**: Uncertain monetization strategies could impact profitability [7] 4. **Traffic Acquisition Costs**: Rising costs associated with traffic acquisition and brand promotions are a concern [7] 5. **Regulatory Changes**: Potential regulatory changes could affect the industry landscape [7] Additional Notes - The report emphasizes the importance of monitoring ongoing developments in the OTA sector and the potential for new entrants to disrupt the market in the future [4][5]

In a dramatic shift in American attitudes toward higher education, nearly two-thirds of registered voters say a four-year college degree isn't worth the cost.Poll Shows Sharp Reversal In SentimentA new NBC News poll of 1,000 registered voters conducted from Oct. 24–28, with a margin of error of plus or minus 3.1 points, found that just 33% of Americans say a four-year college degree is “worth the cost because people have a better chance to get a good job and earn more money over their lifetime.”However, acc ...

Core Insights - The report emphasizes that with 40% of today's skills expected to become obsolete within five years, career development is essential for business success [1][3] - Organizations are currently failing to support employees in navigating their career paths, leading to a gap between employee ambition and organizational support [3][4] Key Findings - A significant 40% of employees lack a career plan, and only 4% have a clearly documented path [7] - Only 20% of employees report that their managers assist in mapping out career paths, with just 15% receiving clear guidance from the organization [7] - There is a growing preference among employees for mentoring, internal mobility, and sponsored external courses over traditional training programs [7] - Awareness of available development opportunities is low, with 35% of employees globally unaware of such options [7] - The rapid pace of change driven by AI means that 39% of current skills will be outdated within five years, making effective career navigation critical for businesses [7] Recommendations for Organizations - Organizations should replace rigid career ladders with flexible career pathways to enhance employee growth [8] - Skills should be the foundation of internal mobility to foster a more agile workforce [8] - AI should be viewed as a strategic partner rather than a threat, integrating it into career development strategies [8]

Core Thesis - Duolingo, Inc. is positioned as a leading digital education platform, evolving from a gamified language-learning app to a multi-disciplinary platform with significant growth potential [2][3][4] Company Overview - As of October 15th, Duolingo's share price was $341.08, with trailing and forward P/E ratios of 128.28 and 69.44 respectively [1] - The company generates the majority of its revenue through subscriptions, utilizing a freemium model to convert millions of free users into paying subscribers [2] Growth Metrics - Duolingo has achieved a revenue growth rate exceeding 40% CAGR and free cash flow margins above 30%, indicating strong financial health [3] - Recent Q2 2025 results showed a 41% year-over-year revenue growth and a 46% increase in subscriptions, with record EBITDA of $79 million and free cash flow of $86 million [5] Market Position - The company commands approximately 60% of the app-based language learning market, despite only reaching 5% of the global language-learning population, suggesting substantial room for expansion [4] - Long-term growth drivers include rising global demand for English, under-penetrated subscription adoption, AI-enabled upsell opportunities, and international expansion into emerging markets [4] Product Development - Recent product launches, such as Chess and Math courses, have seen strong adoption, broadening the addressable market and enhancing user engagement [5] Financial Strength - Duolingo maintains a robust balance sheet with $1.1 billion in cash and minimal debt, positioning it well for future growth [5]

Group 1 - The current year is characterized by numerous uncertainties and opportunities, including sticky inflation, weakening labor demand, poor consumer sentiment, tariffs, and AI disruption [2] Group 2 - The article emphasizes the importance of in-depth research on various investment vehicles such as REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs [1]

Core Viewpoint - Adobe's stock price has been declining due to concerns over AI disruption and monetization, despite strong fundamentals and usage metrics [1]. Group 1: Company Performance - Adobe has been rated as a buy for several months, indicating confidence in its long-term potential [1]. - The company's fundamentals remain robust, suggesting resilience against market disruptions [1]. Group 2: Investment Strategy - The focus is on capital appreciation opportunities, particularly in high-quality undervalued companies and those with high growth rates at reasonable prices [1]. - There is also an interest in dividend-paying stocks, provided they are from good companies and correctly priced [1].