Algebra on Day 1 55 days of Gemini three at SF Super Bowl bcc Day 5 “23 days of open AI ducking BK”

⁦‪@MorgenHatton‬⁩

The Punchline

People say Burry speaks in riddles.

But tonight wasn’t a riddle.

It was a map.

A foundation.

A valuation model.

A warning shot at every company hiding behind SBC…

A spotlight on the one company that isn’t.

11/30/25, 10:02 PM

Chapter 1 to Chapter 14’s an “Easter Egg” at #ch1 to #ch14. Including #ch2 which’s chapter 2 at my house in Napa California

http://www.youtube.com/watch?v=ejeIz4EhoJ0

– This post wraps a thread linking Michael Burry’s “Tragic Algebra of Stock-Based Compensation” critique—deriving a Gordon Growth Model variant (PV = CF₁ / (r – g)) to expose SBC dilution—to GameStop as the rare company avoiding it, with FY2025 SBC at just $16M against $3.8B revenue.

– Burry’s November 30, 2025, Substack post targets Nvidia’s $11B+ SBC since 2018 as eroding 50% of owner earnings via share inflation, contrasting firms like GameStop that shrink shares through buybacks without dilution.

– GameStop’s profile fits Burry’s ideal: $131M net income, zero debt, positive FCF, and a pivot to high-margin digital (e.g., PowerPacks, NFTs), suggesting market mispricing per the formula, especially after Burry’s recent GME reflections.

On 09-09-39, “What They Will NEVER Teach You at Stanford Business School” debuts at 300 w 44th St at New York Fashion Week’s front row
http://www.youtube.com/watch?v=QXIaNZi3mHQ

What A Super Model Can Teach a Harvard MBA About Credit www.slideshare.net/larrychiang/what-a-super-model-can-teach-a-harvard-mba-about-credit

American Express hosts me mentoring you about FICO scores at New York Fashion Week
t.co/inxTmZAj

My video boils down 20,000 hours and moves you to the right on the entrepreneur bell curve
http://www.youtube.com/watch?v=eudADPfTWiE
***********

Steve Jobs Texted me on 650-283-8008 in the same way that Mr Jobs called Bill Hewlett https://x.com/superSaiyanSkai/status/1941392367304761636/video/1

Larry Chiang

Fund of Founders

Founding Stanford EIR

@duck9 alum, Deeply Understood Capital Credit Chinese Knowledge 9

Solo Founder Uber API

650-566-9600 Office

650-566-9696 Direct

Cell: 415-720-8500

650-283-8008 (cell)

Editor of the widely syndicated “What They Don’t Teach at School”
whattheydontteachyouatstanfordbusinessschool.com/blog

CNN Video Channel: ireport.cnn.com/people/larrychiang

Read my last 10 X posts at www.X.com/LarryChiang

Author of #WTDTYASBS a NY Times Bestseller released 09-09-09 at #NYFW on a runway under the tents
whattheydontteachyouatstanfordbusinessschool.com/blog/?s=Ny+times+bestseller

www.fastcompany.com/embed/c0d4562ea2049

52 Cards. Two Jokers. What They DO Teach You at Stanford Engineering
http://www.youtube.com/watch?v=vDBY0GkI3-g

Emergency swings and cutting deals as an 9 year old
http://www.youtube.com/watch?v=OFGY7v9C4G0

Hunter Pence shared thoughts before winning WORLD SERIES’ Game #7
http://www.youtube.com/watch?v=usu0luYy9pw

Algebra on Day 1 55 days of Gemini three at SF Super Bowl bcc Day 5 “23 days of open AI ducking BK”

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