BC FINANCE
Saved by @jay_millerjay

Palantir's 2020 Q4 Earnings call goes live in half an hour.

 The waiting room is now up.
In the mean time, you can read their just-filed 8-K:

https://t.co/3N0lyABVAA
Which is essentially just a re-direct to this press release:

https://t.co/1EVKCNVoy6
Palantir's Consolidated Statement of Operations is pretty interesting.

They lost more than twice as much money in 2020 ($1.17B) as in 2019 ($580M). Despite a $12.6M tax benefit in 2020 vs. $12.4M tax provision in 2019.

But stonks.
Almost certainly they will repeat the talking point from their last webinar that their operating income is up vs. 2019.

You can see that their gross profit is up 2020 vs. 2019 ($740M vs. $500M).
Kind of surprised they led with a mining company (Rio Tinto) in their summary.
And it's live.

You can follow along with the presentation they're showing at the top of their investor relations page.

https://t.co/LqyBBJAVhr
Karp is back on his bullshit. This time claiming Palantir's numbers are "unbelievably strong".

Karp is emphasizing Palantir's usage by "clandestine services" and "oil companies".
Karp just said [software] "sets off a dialectic of learning".
(CC @moiragweigel)

"It can make your military slightly more efficacious"
Karp just quoted Wittgenstein in German and translated to "to believe you are following the rules is to follow the rules".
Karp again spoke of a "dialectic between macro and micro".
Palantir is opening up on congratulating the Space Force's Kobayashi Maru for winning a software innovation award and talking about their IBM partnership.
Palantir emphasized that their partnership with Rio Tinto allowed them to "increase production" and create a "digital twin".
They invoked the "digital twin" term for their partnership with PG&E as well.
Now Palantir is describing their "five year" "nine figure" partnership with BP. Palantir described its digital twin of BP's systems as the "backbone" of BP's simulations.
One of the slides rehashed Palantir's award to prototype the Army's Common Data Fabric through TITAN.

Difficult to quickly summarize, so read:
https://t.co/2d9KMFBWlN
There were several slides emphasizing their revenue growth (as opposed to their skyrocketing net loss of > $1B in 2020) and then they provided this summary of their current customers.
Back to Karp waving his arms in the snow.

He is on a long overview of the history of noone believing Palantir could succeed. Whether due to their maniacal data focus or their transfer from government to business ('which had no history').
He then pivoted to describing focuses on quarterly earnings as destroying businesses and causing them to serve Wall Street instead of their customers.

(Hard to disagree on that one.)
Back to revenue (again: I doubt they are going to mention >$1B 2020 loss).
Now a slide on their government revenue.

It would be interesting to compare this to public procurement to estimate the amount of non-public government / non-US/UK contracts.
Here is the operating income slide.
Now from the perspective of the contribution margin.
(Not going to lie -- I had to look up what a contribution margin was. I'm used to sourcing 10-K Consolidated Statements of Income/Operations and that hasn't been relevant.)
Now onto Q&A.

First Q: "Should investors expect choppy growth rates?"

Response is that Palantir is expanding through channel partnerships -- potentially to "(tens of?) thousands of customers" and drops the "sensor to shooter" income from DoD. "It's about the power of Apollo"
Next question is on how the Demo Day was received by customers.

COO Shyam Sankar again answered this one. He mentions Demo Day Double-Click in April that should be announced soon.
I missed the third question about small and medium-sized businesses, which was to (Rob?) rather than the COO (Shyam). The answer is invoking the contribution margin numbers.
The COO (Shyam Sankar) says that Palantir is "aggressively pursuing" partnerships with the large primes (i.e., Boeing, Raytheon...) which would look like "Palantir in every missile...or drone" by retrofitting their AI capabilities.
COO Shyam Sankar: "We're now...able to address the roughly quarter trillion dollars of DoD weapons spend."
It's possible I misheard 'billion' as 'trillion', but I think he said 'trillion'.
Had to take a phone call so missed a minute or so.
Question from Morgan Stanley to Dave on understanding the income statement. Curious about volatility in revenue.
Had to take another call but Palantir (probably Dave?) was going on about channel partnerships (e.g., with IBM) again.
Next question is on how Foundry's modularity is impacting customers. Response was marketing speak on "meeting customers where they are".
Next question on "triple-digit growth in sales headcount". Question is how much sales rev was captured by sales vs. forward-deployed engineers.

A: Half of growth is driven by sales reps. But more in government. Not comfortable fully commenting on productivity yet.
And the Q&A is over. Probably worth circling back when the video is posted to fully transcribe the segment on the "aggressive" pursuance of weapons primes.
Hmmm. I don't think Palantir is going to post a video.

A replay is supposedly available at the following numbers, but I called both and the person on the other end said you need the ID associated with the replay (which Palantir doesn't seem to provide).

https://t.co/nuEzDfgFGT

More from Finance

10-K Diver
10-K Diver
@10kdiver
1/

Get a cup of coffee.

In this thread, I'll help you work out how much money you need to retire.

2/

The goal is simple.

You want to accumulate a *large* portfolio of assets.

How large?

Well, you should be able to quit your job. And you and your family should be able to live comfortably for decades -- just off of the income generated by this portfolio.

3/

This is the crux of the "FIRE" movement.

FIRE stands for "Financially Independent, Retired Early".

The basic philosophy is: keep your spending needs low. Save a large portion of your income. Invest these savings. With luck, you'll be able to retire early.

4/

FIRE advocates have a rule they love to cite: the 4% rule.

The 4% rule says: your annual expenses in retirement should not exceed 4% of your portfolio.

You can use this rule to calculate how large a portfolio you need to accumulate before you can quit your job and retire.


5/

For example, suppose you and your family need $40K/year to live comfortably in retirement.

Then you need to accumulate a portfolio that's at least $1M.

Another way to say this is: your portfolio should be at least 25 times your annual expenses in retirement.
ALL , FINANCE
Neil Bananas Bharadwa \U0001f44a\U0001f3fd
Neil Bananas Bharadwa ...
@MrNeilB
Having made over 1000 boxes for vulnerable families in Cambridge via @RedHenCambridge (thanks to our customers 🙏🏽) My thoughts on the £30 box thing. Lots of factors at play here. 1/

If the pics in this @BootstrapCook thread are true and correct then the Govt/taxpayers & families in need are getting absolutely SHAFTED 👇🏽 2/


There are some mitigating circumstances. A £30 box won’t ever contain £30 (retail) worth of food - people aren’t factoring in
-the cost of the box
-paying someone to fill it
-rent & rates
-& most expensive the *transport/distribution*

3/

If you’re doing the above at scale. Delivering *across the UK* it’s not cheap BUT IMHO there should be at LEAST £20 worth of groceries in a £30 box. To get more value they need more fresh produce. Just carrots & apples is terrible. 4/

I’m gonna put my rep on the line here & say something about these big national catering companies whose names I’ve seen mentioned. They are an ASSHOLE to deal with & completely shaft small businesses like mine with their terms which is why I won’t deal with them. 5/
FINANCE
Advertisement
Chamath Palihapitiya
Chamath Palihapitiya
@chamath
A children's book explanation of what's happening:

1. If you are "smart money" you are allowed to take your $1 and leverage it up to $15+

2. You can now buy $15 of stock AND if you promise to short companies, you can short $15 of stock as well

3. In finance language, this means that you are $30 "gross" ($15 of longs + $15 of shorts) but $0 net (+$15 of longs -$15 of shorts). This makes everyone feel good because it feels like you are taking zero risk...but in reality, your $1 is exposed to $30 of risk.

4. Now you go around and tell your friends about both your longs and your shorts and when you do it at a restaurant vs on Reddit, its called an "ideas dinner".

5. You also publish your longs on a quarterly lag via an SEC rule. You don't have to tell anyone about your shorts.

6. Now the less cool people who weren't invited to the ideas dinners, start copying your longs based on your report.

7. You realize that publicizing your shorts is also a good idea so instead of only selling stocks, you also BUY options (puts) which has to be reported.

8. Now everyone can see both your longs and your shorts and if you have a hot hand, you can likely predict that the cool people from the dinner as well as the less cool people monitoring your filings will copy you.

9. But then an outsider notices that the math is way off!
CULTURE , ALL , FINANCE
Investment Books
Investment Books
@InvestmentBook1
Mega Thread on Personal Finance 101

👇👇👇

Rule of 72 (Double Your Money)
Rule of 114 (Triple)
Rule of 144 (Quadruple)
Rule of 70 (Inflation)
4% Withdrawal Rule
100 - Minus Age Rule
10, 5, 3 Rule
50-30-20 Rule
3X Emergency Rule
40℅ EMI Rule
Life Insurance Rule

♻ Rule of 72

No. of yrs required to double your money at a given rate, U just divide 72 by interest rate
Eg, if U want to know how long it will take to double your money at 8% interest, divide 72 by 8 and get 9 yrs

At 6% rate, it will take 12 yrs
At 9% rate, it will take 8 yrs

📋Rule of 114

No. of years required to triple your money at a given rate, U just divide 114 by interest rate.

For example, if you want to know how long it will take to triple your money at 12% interest, divide 114 by 12 and get 9.5 years

At 6% interest rate, it will take 19yrs

🗒️ Rule of 144

No. of years required to, quadruple your money at a given rate, U just divide 144 by interest rate.

For eg, if U want to know how long it will take to quadruple your money at 12% interest, divide 144 by 12 and get 12 yrs

At a 6% interest rate, it will take 24yrs

🗒️ Rule of 70

Divide 70 by the current inflation rate to know how fast the value of your investment will get reduced to half its present value.

The inflation rate of 7% will reduce the value of your money to half in 10 years.
FINANCE , PERSONAL FINANCE , PERSONAL GROWTH
Matt Allen
Matt Allen
@investmattallen
12 charts every investor should know:

1. History of the stock market in one chart


2. The Psychology of a Market Cycle


3. "Experts" will always give you smart reasons to sell in the short term, but you will regret it in the long term


4. Largest companies by market cap (1960-2022)


5. Compounding is the 8th wonder of the world
FINANCE

You May Also Like

Will Buxton
Will Buxton
@wbuxtonofficial
The Haas / Force India argument is fascinating, and the decision of the stewards may still have consequences. The first key finding is that the stewards ruled Racing Point Force India to be a valid constructor. That means that it builds its own cars.

Haas had argued that the cars had been designed by Force India, but as Haas knows only too well, "outsourcing" is legal. The stewards decided that "there is no regulatory support for the argument that Outsourcing of Listed Parts cannot come from a former or excluded team."

In determining this, the stewards also came to the following conclusion: "In relation to the submission by the Racing Point Force India F1 Team that it is not a new team, the Stewards decide that the Racing Point Force India F1 Team is indeed a new team."

This will have a big knock on effect for Haas in its continued arguments over the rights of RPFI as relates to its eligibility and rights under the complex payments structure. Haas has argued all along that RPFI should be treated as a new team and tread the same path that it did.

TLDR? Haas lost the fight but may have won the war. In having its argument that Racing Point hadn't designed their own car thrown out, they gained clarification that RPFI was a new team.
SPORT
Anu Satheesh
Anu Satheesh
@AnuSatheesh5
Beautiful story of Shri Krishna, Mata Rukmini & Satyabhama which teaches the importance of Bhakthi.
Devotion is important than anything.
#bhakthi
🕉
Satyabhama, royal princess was very proud of herself. Rukmini was very humble, her devotion was pure to Shri Krishna.


One day, Rishi Narada( Kalahapriya) arrived in Dwaraka and met Sathyabhama. In between the conversation he hinted that Krishna exhibits affection more to Rukmini than her. Worried Sathyabhama asked what can should be done to gain Krishna's undivided attention.
@SriramKannan77


Narada asked Satyabhama to make a vow, that she will hand over Krishna to him as a slave, if she cannot trade wealth equivalent to Krishna's weight. Narada thus convinces Sathyabhama that Krishna will admire her for sacrificing all her wealth for him.


Sathyabhama was sure that she have enough wealth to balance Krishna.

She went to Krishna and told about her vow to Narada. Krishna patiently listened to her and accepted the challenge. Satyabhama arranged to bring large scales to weigh and brought all her precious jewels.


Krishna patiently sat on one plate of the Scales (tula). Sathyabhama started piling up the gold, jewels on the other plate. She kept adding more and more wealth, but the pan with Krishna did not even budge. Even after keeping all her jewels the scale did not move a little
RELIGION
Advertisement
Brian Cates
Brian Cates
@drawandstrike
Trump is gonna let the Mueller investigation end all on it's own. It's obvious. All the hysteria of the past 2 weeks about his supposed impending firing of Mueller was a distraction. He was never going to fire Mueller and he's not going to


Mueller's officially end his investigation all on his own and he's gonna say he found no evidence of Trump campaign/Russian collusion during the 2016 election.

Democrats & DNC Media are going to LITERALLY have nothing coherent to say in response to that.

Mueller's team was 100% partisan.

That's why it's brilliant. NOBODY will be able to claim this team of partisan Democrats didn't go the EXTRA 20 MILES looking for ANY evidence they could find of Trump campaign/Russian collusion during the 2016 election

They looked high.

They looked low.

They looked underneath every rock, behind every tree, into every bush.

And they found...NOTHING.

Those saying Mueller will file obstruction charges against Trump: laughable.

What documents did Trump tell the Mueller team it couldn't have? What witnesses were withheld and never interviewed?

THERE WEREN'T ANY.

Mueller got full 100% cooperation as the record will show.
POLITICS
Meet Shah
Meet Shah
@ms89_meet
Strong Monopolies:

IRCTC 100% Market share in Rail Network.

IEX >90% market share in power trading.

Zydus wellness >90% market share in sugar free product.

Eicher motors >85% market share in 250cc bikes category.

MCX >85% market share in commodity trading.

Coal India >80% market share in coal production in India.

ITC >75% market share in cigarettes.

Honda Siel >75% in portable power generators.

Hindustan Zinc >75% market share in primary zinc industry.

Asahi India Glass >70% market share in automotive glass.

NRB Bearings >70% market share in needle roller bearings.

Pidilite >65% market share in adhesives.

CAMS >65% market share in RTA within mutual fund industry.

Time Technoplast >65% market share in polymer based industrial packaging.

Concor >65% market share in domestic container cargo transport.

Exide >60% market share in lead batteries.

Naukri >60% market share in the Indian job market space.

Praj >60% market share in ethanol plant installing.

Indiamart Intermesh >55% market share in the online B2B Classified space.

Borosil Renewables >55% market share in Lab glass.

Vst Tillers >50% market share in
Power tillers.

Delta corp >50% in online poker games.

Vinati Organics >50% market share in IBB.
GENERICLEARNINGS , GENERAL TWEER , INTRESTING TOPIC
Seth Abramson
Seth Abramson
@SethAbramson
(THREAD) Pre-election Russia collusion may take down Trump. It's equally possible the Trumps' pre- and post-election collusion with Saudi Arabia, the UAE, and Israel will do it—a course of collusion also connected to the Kremlin. I explain here. I hope you'll read on and retweet.


1/ I must stress how unbelievably complex the "Grand Bargain" theory of the Trump-Russia case is—a different thing from saying it's not substantiated. It's substantiated in *almost every single particular*—it just *also* happens to be very confusing. Not byzantine—just confusing.

2/ The basics: Saudi Arabia, Israel, and the UAE all view Iran as their chief regional enemy. Iran is propped up by Russia. Therefore the Saudis, Israelis, and Emiratis all need a US government willing to find a way to get the Kremlin to *stop* supporting Iran in the Middle East.

3/ The best way to get Russia to stop supporting Iran—or reduce support—was/is to drop all sanctions on Russia over its 2014 annexation of Crimea, as that'd be worth *trillions* to the Kremlin over the next decade. Everyone knew that Clinton wouldn't do this—and that Trump would.

4/ Per the NYT, on August 3, 2016, Donald Trump Jr. met secretly at Trump Tower with a Saudi and Emirati emissary, George Nader, as well as an Israeli intelligence expert, Joel Zamel, with *significant* ties to both Israeli intelligence *and* Russian oligarchs allied with Putin.
POLITICS