The fourth quarter of 2025 reveals a shifting balance in digital advertising, with Meta’s market share rising to 34 percent and Alphabet’s falling to 48.1 percent after a four‑year decline. Meta’s incremental share has consistently exceeded 40 percent over the past three years, while Alphabet’s loss is driven mainly by its low‑margin Google Network business. The overall industry grew 18.4 percent in the last two quarters, but the bulk of that expansion accrued to the largest players. AI‑enhanced discovery ads are further tilting the competitive landscape toward Meta.
Scuttleblurb’s deep dive dissects Veeva’s extensive clinical‑trial software suite by walking through a typical trial workflow, showing how each Vault app—QualityDocs, eTMF, EDC, RTSM, CTMS, QMS, LIMS, Safety, Submissions, and others—fits into specific stages. He argues that Veeva’s strength lies...
The author revisits his deep‑dive model on Alphabet, highlighting the company’s transition from a search‑centric giant to an AI and emerging AGI powerhouse. After selling the stock in 2023 over post‑ChatGPT search concerns, he re‑entered in early 2025 and now...
OpenAI disclosed that its adjusted gross margin on inference dropped to 33% in 2025, down from 40% the previous year, as inference costs quadrupled. The company also projected training expenditures to rise sharply, reaching $32 billion this year and $65 billion next...
Booking Holdings reported a 12% year‑over‑year revenue increase in Q4 2025, reaching $4.3 billion, while Airbnb posted a 9% rise to $2.1 billion. Both companies saw higher gross booking value, but Booking’s net profit margin grew to 8.5% versus Airbnb’s 6.2%. Occupancy rates...

The author has refreshed his proprietary Amazon valuation model using the company’s latest 10‑K filing, projecting financial performance through 2026. The update incorporates recent trends in e‑commerce, cloud services, and advertising revenue streams. Detailed assumptions and calculations are hosted behind...