#PayTmIPO – Long Thread:
There is a new game in town. The rules are “well laid out” by VCs – Report just 3 yr financials, blame flat sales since 2019 on covid, pick consultants to project fancy story, price IPO at 45 times sales, create scarcity of “limited offer” of 12% shares”
They say “a fool & his money will always be parted”.
But who rewards mediocrity? Well, enter #PaytmIPO. If Infosys & TCS were a bet on excellence, Paytm is a bet on mediocrity. We’ll see how.
But there is a catch here – Paytm seems to have got the last funding in 2019 at $ 16 Bn valuation. On that, the current pricing at $ 20 Bn seems fair, isn’t it?
Something tells me that the IPO was planned for 2020. But then Covid stuck in March 2020. No IPO happens in a bear market. Oops!
If Paytm doubles from here, it will be bigger than Axis bank & close to Kotak bank.“Super app” bigger than these banks?
Then there is ticketing biz, again trying to compete with the biggies already established in ticketing. We see new segments tried & folded without significant leadership
While industry is worried with too many stocks trading accounts, Paytm has barely started.What leadership execution do we value here?
Look at related party tranx disclosed in DRHP: Paytm pays Rs ~900 Cr revenue to its payment bank, which is owned 51% by promotor VSS. Hmm…okay!
No wonder the small bank & insurance licenses are lying with RBI & IRDA for over a year. Post IPO, “Ant fin” stake will fall <25% but is that good to inspire trust?
330 Mn “users” means 33 Cr people have tried Paytm at some point but haven’t adopted it
Since UPI dominance increased, Paytm is forced to reduce “take rate” it charges merchants (0.64%). Paytm revenues are falling despite rising spends!
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Fake chats claiming to be from the Irish African community are being disseminated by the far right in order to suggest that violence is imminent from #BLM supporters. This is straight out of the QAnon and Proud Boys playbook. Spread the word. Protest safely. #georgenkencho
There is co-ordination across the far right in Ireland now to stir both left and right in the hopes of creating a race war. Think critically! Fascists see the tragic killing of #georgenkencho, the grief of his community and pending investigation as a flashpoint for action.
Across Telegram, Twitter and Facebook disinformation is being peddled on the back of these tragic events. From false photographs to the tactics ofwhite supremacy, the far right is clumsily trying to drive hate against minority groups and figureheads.
Declan Ganley’s Burkean group and the incel wing of National Party (Gearóid Murphy, Mick O’Keeffe & Co.) as well as all the usuals are concerted in their efforts to demonstrate their white supremacist cred. The quiet parts are today being said out loud.
The best thing you can do is challenge disinformation and report posts where engagement isn’t appropriate. Many of these are blatantly racist posts designed to drive recruitment to NP and other Nationalist groups. By all means protest but stay safe.
There is co-ordination across the far right in Ireland now to stir both left and right in the hopes of creating a race war. Think critically! Fascists see the tragic killing of #georgenkencho, the grief of his community and pending investigation as a flashpoint for action.
Across Telegram, Twitter and Facebook disinformation is being peddled on the back of these tragic events. From false photographs to the tactics ofwhite supremacy, the far right is clumsily trying to drive hate against minority groups and figureheads.
Be aware, the images the #farright are sharing in the hopes of starting a race war, are not of the SPAR employee that was punched. They\u2019re older photos of a Everton fan. Be aware of the information you\u2019re sharing and that it may be false. Always #factcheck #GeorgeNkencho pic.twitter.com/4c9w4CMk5h
— antifa.drone (@antifa_drone) December 31, 2020
Declan Ganley’s Burkean group and the incel wing of National Party (Gearóid Murphy, Mick O’Keeffe & Co.) as well as all the usuals are concerted in their efforts to demonstrate their white supremacist cred. The quiet parts are today being said out loud.
There is a concerted effort in far-right Telegram groups to try and incite violence on street by targetting people for racist online abuse following the killing of George Nkencho
— Mark Malone (@soundmigration) January 1, 2021
This follows on and is part of a misinformation campaign to polarise communities at this time.
The best thing you can do is challenge disinformation and report posts where engagement isn’t appropriate. Many of these are blatantly racist posts designed to drive recruitment to NP and other Nationalist groups. By all means protest but stay safe.
