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@Jollibee is an incredible opportunity in this market $JFC $JBFCF $JBFCY
The 2026 Iran war → energy crisis hammered ASEAN markets. Then MSCI booted JFC to small-cap, forcing passive selling. Two unrelated shocks, one stock down ~43% off its highs trading at 0.5x sales.
What you're buying:
This is definitely a baby thrown with the bathwater.
1. 75% of marketshare in the Philippines, huge cultural fanbase that deserves a much higher multiple, especially the international story.
2. International comps growing faster than $MCD and $CMG — 7.6% SSSG last print (NA +9.4%) vs MCD +3.8% and CMG -4.0%.
3. 14% trailing EPS CAGR, ~16x earnings, half a turn of sales.
4. US IPO 2027 Spinoff to capture expansion opportunity.
5. 2.7% Dividend while you wait...
6. Stellar reviews for all locations and social media ranking.
Yes — margins and interest costs got squeezed this year. That's the dislocation. You're paying small-cap multiple for the #1 brand in a 115M-person market with a US IPO catalyst on the horizon with an exceptional expansion strategy of moving into areas with a large Philippine base and cross selling the buzz into an American audience who has nothing but raving reviews.
Alex Teha retweeted
Tonight: BC provincial election results will be displayed on this map and will update every 2 minutes.
stephentaylor.ca/data/politi…
Alex Teha retweeted
We believe voice is the most natural way to interact with intelligence, so we created Dessa, the most authentic full-duplex speech model ever built. Talking with it feels like talking with a person…full of emotion, nuance, pauses, and a natural cadence.
block.xyz/dessa
Alex Teha retweeted
We're excited to bring 1Password directly into @Muse for the many people who already use it. It gives you another secure way to let Muse sign in and keep working: you approve each login and your passwords stay in your vault. Rolling out across all platforms over the coming days.
Today we announce 1Password for Agents platform, building with companies @Muse, SpaceX Super Intelligence Grok @Bot, @AnthropicAI’s @Claudeai, @OpenAI, @TownAI, @Browserbase, @Browser_use, @heydana_ai, Instinct, @usekernel, @Perplexity_ai, @tryramp, @Tomo, and @wajo_ai, with more integrations on the way. 🎉
We've heard from so many of our customers who want to use these new personal AI agents to help them get more done, but want more control over what the agent can access with the same trust and ease of use they get when using 1Password directly.
1Password for Agents gives your agents access without giving up your passwords. When an agent reaches a sign-in form, it requests a credential from your vault. If you approve the request, 1Password directly auto-fills the credential in the destination site so the agent can’t see or take possession of the credentials.
The agent gets the task done, but it doesn’t get your passwords..
You stay in control. 1Password for Agents free and optional for personal and family accounts. Unless you opt-in to an agent connector, agents cannot touch your vault.
➡️Learn more: bit.ly/487da6J
Alex Teha retweeted
Here are most of, not all, the interesting stats I pulled out of Meta's Q3 2026 call:
10M people in the US and Canada have set up Muse personal agents.
25% of them use it on any given day. Zuck: “more than twice the level that Threads started at, or where we believe other AI apps started as well.”
The most common use case is shopping. More than a quarter of Muse users are doing it, average purchase size over $200.
“Plaid told us that they hadn’t seen activity like they’re seeing with their connector on any other service before.”
Family of Apps revenue per existing US user is already “several hundreds of dollars annually,” and Zuck expects Muse to go higher “due to the amount of commerce that we already see taking place.”
The model: free for most people, with Meta taking a fee on transactions it facilitates overtime.
On cost: “Muse is very compute-intensive to run. But we expect to improve its cost efficiency by more than 10x in the next year, which will enable it to be profitable once the revenue lines are at scale.”
CORE BUSINESS
Family of Apps revenue $64.2B, +26%.
Ad impressions +10%. Average price per ad +14%.
Family of Apps Other revenue $1.1B, +59%, on WhatsApp paid messaging and subscriptions.
3.64 billion people use the family of apps every day.
Threads has overtaken X in monthly actives. Time spent per user on Threads +20% YoY.
Instagram global time spent per user hit an all-time high, up double digits.
Facebook Reels time spent hit all-time highs both globally and in the US, both up double digits.
Nearly 45% of recommended Instagram Reels are now less than a day old, up 11 points from Q2.
Ranking sequences of Reels instead of evaluating each one independently increased Instagram Reels time spent over 4%.
Moving content understanding onto first-party Muse models reduced per-unit processing costs by more than 80% across Instagram, Threads, Facebook and Ads.
Advertisers who adopted Meta AI business assistant recommendations drove almost 5% more conversions at the same cost per conversion, and increased their ad spend 9% versus non-adopters.
Simply Organic Maple, a family-run Vermont producer, used it to rewrite ad copy: +57% purchases, -36% cost per purchase, 3x ROAS.
Meta One has surpassed 15M subscriptions and trials across 50+ features.
An estimated 500M self-identified small businesses use Meta’s apps to reach customers.
Zuck: “We have not yet found the limit of how effectively we can apply compute to accelerating our own core business.”
Alex Teha retweeted
Each of $GOOGL, $AMZN, $MSFT, $META and $SPCX hope to bring 5-10GW of new AI data centers online in 2027. In SpaceX's case, maybe they hope to get to 20GW.
However, only @elonmusk is claiming that his 10-20GW will generate $500 Billion to $1 Trillion of ARR for SpaceX next year.
At this point, what's stopping the rest of the industry from saying "you know what, we can also sell our new capacity at $50/watt" and project MASSIVE revenue increases based on hypotheticals? Everybody should do this.
So what's the reason none of the others are making such claims? Are they dumb?
Alex Teha retweeted
🇩🇪 Nvidia's Jensen Huang CORNERED German Chancellor Merz on the old EU regulation playbook
"I've also heard you say that you want to find that balance between innovation and regulation.
There's nothing to regulate if the industry doesn't thrive."
Europe keeps reaching for the rulebook before the companies even get off the ground.
Writer: Lucas
Alex Teha retweeted
More dodo news. Amazing progress by the team.
techcrunch.com/2026/10/14/co…
Alex Teha retweeted
Obviously this is bearish and stuff is down after hours, but:
1) Ant ARR is not a useful metric anymore in isolation; hasn't been for months. At the very least you need to sum Ant + OAI, and approximate Gemini/Google, and now need to add Muse & guestimate $META's desire to keep spending on it now that they have some traction.
Oh, and open source.
2) Anthropic went from $5b in 2025 revenue to $17b a QUARTER. Who had that on their bingo card November of last year? Have at least a modicum of humility and admit that predicting this is going to be extremely difficult in the mid/long term (short term at least you have some alt data we can approximate things).
Ramps and drops, as that water guy said.
3) You're judging an industry on growth that is still tremendously compute constrained. A deceleration because of supply constraints means different things than a deceleration because of competitive pressure which means different things than a deceleration because adoption industry wide is slowing.
I realize nuance is hard.
4) The macro environment broadly is kind of shite. Rates up, inflation up, gas prices/freight up hurt everyone. Under the surface, the market is seeing carnage and what's that old adage? They shoot the generals last.
You have midterms coming up and regardless of which way they go, Trump will step up action against Iran in late November so the risk of there being more disruption feels greater to me than the risk of less disruption.
5) The AI trade is just one thing. The easy money has been made. Earlier this year you made a ton being long one theme, I think those days are done. You need more nuance within the theme (e.g popular trade long optical/networking, short memory), and I think also more focus on themes/drivers outside AI.
Alex Teha retweeted
$WOLF supplies Megmeet btw. They casually dropped that news on the last earnings call with basically no follow-up.
Alex Teha retweeted
Watching people freak out over CXMT's 4F² and claim that CXMT has caught up with Western memory technology is honestly laughable.
CXMT has hit the limits of DUV scaling. What it is trying to do is move from 6F² to 4F² at the relatively relaxed 13 to 14nm node so it can extend the life of DUV. It is not jumping straight to 4F² to leapfrog Western memory makers that use EUV. People have the cause and effect backwards.
Samsung and SK hynix are also not holding off on 4F² because they are stupid. If they wanted to mass produce 4F² right now, they actually could. The only reason they don't is that the yields aren't there.
I really can't make sense of this selloff sparked by CXMT. 🤡
Alex Teha retweeted
Michael Burry is not wrong. He’s just 3-5 years early & lights $ on fire, because that 🔥 sells more Substack subscriptions, likely more than paying for his losses
He’s the dude at a party b*tching at 7pm that the cops are going to get called. They will, but party on until then
Alex Teha retweeted
🍉 MUSE WONDER 🍉
our research process starts with evals. we developed the Personal Superintelligence Index (PSI) internally to help us measure the important dimensions of what actually makes a model useful for personal agents, vs just focusing on external benchmarks.
the end result is that our model is incredible for personal agents in many subtle and important ways, including Active Memory and Active Focus.
i'm especially proud of our research team for taking a particular focus on developing useful models. the whole point of building advanced frontier models is to make them useful to real people, and we have thought about that every step of the way in our research process.
muse wonder is quite advanced across the board, and certainly has big model smell (which we quantified!), but is truly state of the art for personal agents.
Alex Teha retweeted
I've said this before but I'll say it again, AI continues to validate a philosophy background. If you don't have one, go and read the classics, talk to your AI about them, exercise theoretics, push curiosity, ask why, lie to yourself, it will make you a better prompter.
Alex Teha retweeted
Every successful person I know uses their free time to get ahead.
That's their "secret."
Alex Teha retweeted
Introducing Eleven v4 and Eleven v4 Turbo, our fastest and most emotive voice models yet.
Ranked #1 by Artificial Analysis.
Alex Teha retweeted
I’ve seen a couple of posts about this so wanted to demystify. Today, every Muse user gets a free computer in the cloud. It's a real computer, and we’ve designed the security architecture of the Muse Secure VM carefully so you and your Muse can do almost anything you could with a computer sitting under your desk while keeping you and the system safe from threats like prompt injection. We wrote about this at length in our security blog post – security.muse.ai. Activity in the “runtime cell”, which you share with your Muse is unfettered, but sensitive actions are all overseen by the Sentinel, which runs outside of that cell. Similarly, all sensitive secrets - like the passwords you enter into Muse’s secure credential storage - are also stored outside the runtime cell.
The runtime cell gets its own root filesystem (including a full Ubuntu linux image) separate from the host filesystem where your other more sensitive data lives. Because it is isolated from the sensitive stuff that runs on the same box, this means that we can, and do, offer users full visibility and control over the files in the runtime cell. Just as you can when you install Linux on your home computer, you can poke around and see all the files that make the system work - both debian system files and the binaries and data files that implement the parts of Muse which run in the runtime cell.
This was a very deliberate choice - your Muse Secure VM truly is your own computer in the cloud. You can install software in it, write and compile code, use the browser to surf the web: it is your own Linux box that you can operate as you choose with your Muse. Poking around in this computer doesn't give you any privileged access to Meta infrastructure, or to other people's data
If I may geek out a little here for a second… As a kid I loved to take things apart to see how they worked. As a teenager I got into computers and soon found myself drawn to C:\WINDOWS\SYSTEM and the system registry, later Slackware’s /dev/, /proc/ etc – I could see how the system was laid out and as I explored what DLL files and .so files actually did, I gradually became able to meld the computer to my own will.
We’re really proud to be able to put a real computer in millions of people’s hands with a similar level of transparency. We built a file explorer right into the Library tab of the UI. We want you to be able to see the markdown files Muse writes while it thinks about how to serve you better, and explore the internals of the system if you’d like to.
So, when you ask your Muse to show you its entire filesystem, and receive gigabytes of files you’re seeing the full contents of the runtime cell. It’s yours to explore and enjoy!
If you’re not a geek like me, or simply want to download the data that you personally have created directly with your Muse, we added a feature for that too in Settings > Data controls > Download your agent data.
