Forever Free, page-12

thanks writer. appreciate you sharing that

bell potter guys are pretty good - though its not really the kind of house I think of as synonymous with IT. but then thats not really an expertise in Australian market - you can count our significant IT successes on one hand pretty much - Atlassian, Aconex, Seek, REA and Carsales. ( And carsales and rea seem to have topped out in their runway once they hit local market share limits. Though property boom obviously making rea look better than it is)

he's still in denial about those deal failures and the readhtorugh for the stock;s investors & his microsoft analogy is nonsense - a bluechip passes up many deals because it has saftey of cashflow, a brand equity to maintain and an existing moat that protects existence if deal doesnt go through- and deal 'failures' rarely even are known to shareholders. MS would have to be merging with Oracle for a deal to be material to its stock price. Have a look at when FB bought instagram - stock price basically didnt budge.

- but I agree the verticals now make more sense from a business development point of view and its v important we have Thor style 'push' deals and data driven 'pull' offerings.

the pull offerings - ie where minimal effort is made but data collected has a commercial appeal significantly de-risk a business brand.

when you are always trying to do 'push' deals you are constantly on the hook both to land clients but it also leaves business revenue highly vulnerable to contract cancellations.

its the same reason that brokerages have both broking and corporate finance. corp finance offers high profit but high cost of client acquisiton and a high element of chance. broking balances out that business risk with steady as she goes revenue streams

And conceivably the high end anomysed data use might offer the best of both worlds - ie 'pull' product that is nonetheless high margin and high % repeat/rollover income retention & growth.

thats where the money is in any business - whatever industry.

But thats particularly why I was attracted to BUD in the first place.

Very pleased with how BUD's management is evolving and refining its offering to search out the high value niches

And the volume growth is frankly quite staggering. If this truly does end up being a sustainable clip per data byte income stream and not just a fad requirement - it will be a hugely powerful earnings engine

I get the strong sense investor and other 'control' entities will actually keep uppoing the data demand - which should offset inevitable erosion in pricing power as the data becomes somewhat more ubiquitous.