Baby Giants

A very helpful summary of FBR...it takes up their first 15 mins.

https://open.spotify.com/episode/6UWUdyQH9zdjg0A2CZht8E

What points do these guys make?
1. The number of shares on issue have gone up 1000%. Awful dilution.
2. The limited, sub-scale progress so far.
3. The very low Performance Shares thresholds.
4. Three name changes already. Not a good look.

Take home value...?
5. Wait for 'traction'. Disruptive technology has a long runway ahead. Wait for proven revenue. The jury certainly isn't in.

They seemed to nail the critical issues for FBR and perceive the weakness in its history to date.

I'll be listening to a lot more of their podcasts...

(Not held anymore).