Why Meta, Tesla, and others Are backsliding while smaller caps stabilize. The AI supercycle is exposing who has real SBC discipline and who’s losing the plot.
Meta's dilution spike for AI enginers really highlghts the talent war in this space. Your point about forward versus trailing dilution is key because it shows management's current priorties rather than just historical decisions. The bifurcation between mega caps and smaller tech is intresting too. Companies that maintaned discipline through the AI hype cycle are now cleary separated from those chasing growth at any cost.
Love this!
Awesome analysis. Any chance you could add MNDY and GTLB?
Meta's dilution spike for AI enginers really highlghts the talent war in this space. Your point about forward versus trailing dilution is key because it shows management's current priorties rather than just historical decisions. The bifurcation between mega caps and smaller tech is intresting too. Companies that maintaned discipline through the AI hype cycle are now cleary separated from those chasing growth at any cost.