Before I get started…Happy Passover.
Also, there are now 44 ‘Panic With Friends‘ episodes live (all made since March 13) that have incredible conversations with traders, investors and entrepreneurs. I aimed to make them evergreen around the subject of panics and investing.
I had two zoom seders today. The first was for with my family in Toronto (also Florida). The second with my family in Phoenix.
There has never been a faster 8-80 brand than Zoom. My great niece and nephew were Zooming and so was my 78 year old mom. I never thought I would see the inside of my mom’s nose…but Zoom made that happen.
I owned Zoom into the Corona pandemic and when it got to $120 I sold it. I considered it a lucky thing that it rose with COVID-19. It went straight to $160.
Yesterday I added it back below $115 as the media enjoyed piling on regarding the ‘data security’ issues. Of course Google and Microsoft are going to come hard for Zoom now that the market is fully outlined and engaged. Zoom may lose the classroom and government but they have won hearts and mind. It does not hurt that they have a wicked business model.
My sweet niece Sammy in Toronto is a speech pathologist that works for herself. She would be shit out of luck without Zoom. For $200 month she happily pays Zoom for endless connection and features that she and her clients/patients love. The media does not cover the details but Zoom is medically compliant in Canada (personal health information protection act). She is going to be a 60 year customer if Zoom does not screw it up.
The banks will never give it up once they get on and they are on.
You will hear endless stories of zoom bombing and security breaches because that creates clicks for the media (and that happens on the free version where YOU ARE THE PRODUCT), but the dips will be bought. Warren Buffett will be buying the dips at this rate. It will never be inexpensive because that is how growth stocks work.
PS – Here is my 8-80 list and portfolio which you can follow on Koyfin.
Disclosure – I am long and my kids own some too.