Group 1 - Cloudflare, Inc. is transitioning from a usage-based platform to a fundamental enterprise infrastructure platform focusing on security, networking, and AI computation [1] - The company is leveraging its software-defined edge to facilitate this transition [1] Group 2 - The investment style focuses on identifying high-potential winners before they break out, emphasizing asymmetric opportunities with an upside potential of 3-5 times outweighing downside risk [1] - Risk management is prioritized, aiming for a strong margin of safety to protect against capital impairment while maximizing long-term compounding [1] - The investment horizon is set at 2-3 years to ride out volatility, ensuring that patience, discipline, and intelligent capital allocation drive outsized returns over time [1]