An Update on Cloud Markets and AI Value Creation I like to provide a quarterly update on the hyperscalers as they give us the best gauge on technology markets as a whole. We get data across infra, cloud, and applications. For those interested in AI adoption, they also give us the best insight into AI adoption (Capex, AI cloud
A Primer on Semiconductor Capital Equipment (Semicap) The semiconductor capital equipment (semicap) industry is one of the most important industries on the planet and one that doesn’t get much love (outside of ASML). The industry has a number of structural advantages leading towards attractive investment characteristics for long-term, quality-focused investors: deep competitive advantages, technical differentiation, strong
A Primer on Databases Databases have underpinned much of the software movement we’ve seen over the last couple decades. They also happen to be one of the longest-running pieces of technology that still resemble their original form (at least for SQL databases). The data space caught my attention due to the inherent stickiness
A Primer on the Data Lakehouse The data lakehouse emerged in the late 2010s as a cheaper, open-source, flexible alternative to the data warehouse. While the data warehouse consolidates compute/storage/services, the lakehouse architecture breaks up those offerings into individual components, typically based on open-source software. My goal for this article is to give readers
A Primer on Data Warehouses This is my second primer in the data space (the first one can be found here), with a number of follow-up articles planned (data lakehouses, databases, data catalogs). You can find my other articles on the Public Comps Blog or my Substack. My goal for this article is twofold: 1.
A Primer on the Cloud This is the fifth primer in a series of articles I’ll be writing over the next 6-12 months with the goal of covering every major industry in tech (and the broader goal of having a foundation to study tech companies across industries quickly). You can find the other articles
Cybersecurity Industry Primer I think the cybersecurity landscape is fascinating. The cybersecurity industry has a number of intriguing investment characteristics: high demand, (seemingly) unlimited time horizon for growth, pricing power, and a massive TAM. On the other hand, there’s an exceptional amount of competition, fragmentation, and the barrier to execution is high.
Q4 '23 Cloud Update Cloud is the industry I’m most invested in and the industry I’ve spent the most time studying. I like to provide a quarterly update on the state of the market & trends I’m seeing play out. My goal for this article is to provide market share data,
A Primer on Data Centers Welcome back to the Public Comps blog! Our goal is to provide high-quality, data-driven research on companies and industries. I also publish my research and other learnings regularly here. The data center today can be broken down into 3 categories for investors. At the foundational level, semiconductors enable most of
Data Industry Primer Welcome back to the Public Comps blog! Our goal is to provide high-quality, data-driven research on companies and industries. I also publish my research and other learnings regularly here. My goal of this article is threefold: 1. Provide an overview of the modern data landscape. 2. Provide an understanding of
