Unconventional Value

Continued thinking on Planet Labs

Every investment decision ultimately returns to the question of what do you believe vs. what is already priced in

12 hrs ago

2

February 2026

Year End 2025 Letter

Click below if you prefer reading the PDF version.

Feb 23

10

1

August 2025

Mid Year 2025 Letter

A tour of the portfolio

Aug 15, 2025

12

1

April 2025

Investment Idea #5: Thryv Holdings | THRY

A unique, unheralded opportunity in small business America

Apr 3, 2025

12

1

1

March 2025

Research Recap | February 2025

Thryv, Upstart, Planet Labs

Mar 4, 2025

2

January 2025

Research Recap | January 2025

Planet Labs, Xometry, and Pagaya

Jan 31, 2025

5

4

2

Year End 2024 Letter

If you would prefer to read in PDF format, click below.

Jan 19, 2025

9

3

1

December 2024

Continued thinking on CROX

Maybe the fad risk and acquisition criticisms are overdone

Dec 21, 2024

15

2

2

Update on Investment Idea #1

I sold half of my position in Spire

Dec 7, 2024

7

3

1

November 2024

Selling Spire's Maritime Business

A few thoughts on the transaction

Nov 15, 2024

4

3

August 2024

A turn for the worse

Satellite failures, accounting restatements, and covenant breaches at Spire

Aug 25, 2024

9

2

1

An informative Glassdoor review

A fine point on Planet's GTM struggles

Aug 21, 2024

1