Warry, John. **Warfare in the Classical World:** An Illustrated Encyclopedia of Weapons, Warriors, and Warfare in the Ancient Civilizations of Greece and Rome (Rev ed.). Norman, OK: University of Oklahoma Press, 1995

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**5) The math to $120 (one credible path).** * **Marketplace/agent-led GMV**: assume OPEN builds a national seller funnel and intermediates **\~$150B GMV** within a few years (a mid-single-digit share of a \~$2T+ existing-home market—i.e., not crazy if their top-of-funnel wins). With a blended **\~1.5–2.0% take-rate**, that’s **$2.3–3.0B high-margin revenue**. * **Core iBuyer flywheel**: run a **leaner balance-sheet** book at **$40–60B resale GMV** with **4–5% contribution margin**, yielding **$1.6–3.0B** of contribution profit before Opex. * **Attach** (title/escrow, warranties, marketplace ads, partner rev share): **$0.5–1.0B** revenue if attach rates rise with an agent-led ecosystem. Put together, you can plausibly frame **$5–7B revenue** with **20–25% EBITDA margins** (because more of that revenue is capital-light). That’s **$1–1.8B EBITDA** *before* any mania. A platform rerating at **25–35× EBITDA** or **12–15× sales** (for a period) gets you into the **$60–100B** EV zone—i.e., **share price with a “1”**. (Yes: execution heavy. Yes: possible with this mix.) *Anchors for realism:* size of the US resale market, the just-reported contribution/EBITDA turn, and OPEN’s explicit “capital-light” push. [National Association of REALTORS®+1](https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales?utm_source=chatgpt.com) **6) The squeeze-y accelerant.** Right now, shorts still sit at **\~23–26% of float** (Aug 29–31 print). If borrow remains available this stays momentum-led; but **if** CTB tightens while the story improves, you get **forced buyers** on top of retail “Open Army” call-flow. That’s how valuation overshoots *toward* $120 before fundamentals fully catch up. [Yahoo Finance](https://finance.yahoo.com/quote/OPEN/key-statistics/?utm_source=chatgpt.com) **7) Why this isn’t fantasy.** * The **team** just changed in exactly the way a marketplace pivot needs. [GlobeNewswire](https://www.globenewswire.com/news-release/2025/09/10/3148276/0/en/Opendoor-Names-Kaz-Nejatian-as-CEO-Founders-Rabois-and-Wu-Rejoin-Board.html?utm_source=chatgpt.com) * The **macro** is finally blowing the right way (rates). [Freddie Mac](https://www.freddiemac.com/pmms/pmms_archives?utm_source=chatgpt.com) * The **model** already printed positive Adj. EBITDA in a rough quarter, proving it can work *at small scale*. [Opendoor](https://www.opendoor.com/articles/2025-second-quarter-financial-results?utm_source=chatgpt.com) Scale the mix toward capital-light fees and keep underwriting tight, and the market will happily pay tomorrow’s multiple on today’s slope.

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\*ADOBE 3Q ADJ EPS $5.31, EST. $5.18 \*ADOBE 3Q REV. $5.99B, EST. $5.91B \*ADBE 3Q REMAINING PERFORMANCE OBLIGATIONS $20.44B, EST. $19.99B

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My uncle recycled cars during the Obama era cash 4 clunkers. They drained the oil and put bricks are the gas pedal until the engines seized before scrapping. I’ll always remember him saying how ford trucks were the toughest thing to kill. They would run forever full rev with no oil 🤣

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REV UP THOSE FRYERS AND OPEN THE CASINO WEEEEEEE

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Yeah check the units rev/backlog growth the past two years 😮 The other half of business is also an electrification play. AAON, parent company, is known for their heat pump HVAC systems. Which you might think would be a bad thing to be in with Trump.. but NY just said all buildings gotta be electric, etc.. IMHO both halves of business are undervalued (their current backlog is literally 50/50 heat pumps/AI shit) and you aren’t putting all your eggs in one basket (AI). Why I like the BKR/CAT/NEE plays as well. It’s not *just* AI for them.

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"Company | Q2 cloud rev" Please provide a source for NBIS where it is segmented into cloud revenue. Also please provide a source stating that NBIS only expects 100 MW in capacity by eoy. And also provide a source for the 40-55 MW of current capacity that "you're" estimating. I imagine this is another number from ChatGPT.

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Thought for 2m 27s Got it—here’s a **BS check** on that reply, fast and surgical: * **“Your MW numbers came from nowhere.” → Wrong.** **CRWV** ended Q2 with **\~470 MW** and says it’s on track for **>900 MW by YE’25** (company transcript). Q4 Capital **NBIS** publicly guides **\~100 MW in 2025** (Vineland phase 1) and **targets \~1 GW by end-2026** (IR/news). Data Center DynamicsNebiusReuters * **“Use EV/NTM, P/ARR is unsound.” → Overstated.** P/ARR is **non-standard** and ignores capital structure—but it’s not “invalid” if used consistently. EV/NTM Revenue is cleaner; calling P/ARR “unsound” is rhetoric, not a factual error. * **“NBIS is 11.35× TEV/NTM vs CRWV 9.97× (CapIQ).” → Unsupported as stated.** Could be true, but it’s **uncited** and depends on **proprietary estimates**; no public source given. If you want to use it, **show the inputs** (NTM rev, net debt, options). No source = hand-wave. * **“CRWV interest $260m vs NBIS $4.6m proves your multiple is bad.” → Partly right, partly spin.** Facts: **CRWV Q2 interest expense = \~$267m** (company), and NBIS shows **\~$4.8m** in its Q2 release tables. Those numbers are real; the leap to “P/ARR is bogus” is **opinion**. Q4 CapitalBusiness Wire * **“$105.1m is NBIS group revenue—you mislabel it as cloud.” → Fair.** NBIS’s **Q2 $105.1m** is **group** revenue; the release does **not** break out “cloud only.” Your earlier wording should say **“group”**, with AI infra as the growth driver. [Nebius](https://nebius.com/newsroom/nebius-reports-second-quarter-financial-results-and-raises-arr-guidance-for-2025?utm_source=chatgpt.com) * **“GS report says Finland triples, UK cluster, co-los (KS/IS/Paris), 1 GW by ’26.” → Directionally right, not unique to GS.** Public NBIS sources already say **Finland → 75 MW**, **UK Blackwell cluster live Q4’25**, **Kansas/Iceland/Paris co-los**, and **1 GW by 2026**. Nothing here debunks your capacity-gating thesis. Nebius+4Nebius+4Nebius+4 * **“NBIS is 20% more power-efficient from custom racks.” → Marketing claim, not a hard audited fact.** NBIS cites **\~20% lower TCO/energy** in PR/sustainability materials; treat as **company claim**, not an independent benchmark. **Net:** They landed a fair hit on your **“cloud vs group”** label and (reasonably) prefer **EV/NTM** over **P/ARR**. But calling your MW math “made up” is **just wrong**—both companies’ capacity roadmaps are on-record, and your **capacity-gated revenue** point still stands.

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Based on current DCF and assume 2029 $ORCL only does 10% rev growth. The current share price of $ORCL should be $980 LMAO wow! we now know the next play. Neo-clouds and data centres. $CRWV = EASY 2X $MSFT = EASY 10%+ $ORCL = 30% GROWTH MINIMU $GOOGL = 20% LEFT TILL FAIR VALUE. TpU will kill $NVDA soon! $NBIS = $100+ $GOOGL & $CRWV = ARE MY PLAYS 500K IN EACH LETS GO!

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Based on current DCF and assume 2029 $ORCL only does 10% rev growth. The current share price of $ORCL should be $980 LMAO wow! we now know the next play. Neo-clouds and data centres. $CRWV = EASY 2X $MSFT = EASY 10%+ $ORCL = 30% GROWTH MINIMU $GOOGL = 20% LEFT TILL FAIR VALUE. TpU will kill $NVDA soon! $NBIS = $100+ I'M

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