John Elkann was instrumental in pushing for Ferrari to spin off as a standalone company in 2016.

Over the last five years, Nintendo's returns on capital have been above 40%.

The Trade Desk's revenue miss was primarily caused by friction during the transition from its legacy system, Solimar, to its new AI-powered platform, Kokai.

The Nintendo Switch console has a user base of more than 130 million.

Exor holds a 7% position in the Intrinsic Value portfolio.

Exor is a 7% holding in the Intrinsic Value Portfolio.

Shawn O'Malley is confident that Airbnb can grow its revenues at double-digit rates for the next 10 years or longer.

A large portion of Airbnb's listings are exclusive to its platform, particularly in emerging markets like Latin America and the Asia Pacific region.

Airbnb has recently made a significant effort to remove thousands of low-quality listings from its platform.

Reddit's net income margins improved from -37% in 2024 to a positive 24% in 2025.

In the fourth quarter, Reddit's net income margins reached 34%.

Reddit's revenue has grown at a rate close to 70%.

Reddit has experienced revenue growth of close to 70%.

Reddit's international user base is growing at three times the rate of its US user base.

Currently, a US user generates about $11 in average revenue for Reddit, while an international user generates only $2.30.

The Trade Desk's guidance for Q1 2026 implied a year-over-year revenue growth of only 10% and a decline in adjusted EBITDA.

The Trade Desk missed its own revenue guidance for the first time after 33 consecutive quarters of meeting or exceeding it.

The Trade Desk generates approximately $20 in revenue for every $100 of advertising spending that flows through its platform.

In mid-2025, the FHFA approved VantageScore 4.0 as an alternative scoring model for government-backed mortgages from Fannie Mae and Freddie Mac.

As of January 2026, banks can choose between FICO or VantageScore when originating a government-backed mortgage.