Welcome to another edition of TSOH Weekly Roundup.
Each update features a Chart of the Week, along with a brief discussion on three news items relevant to companies in the TSOH investable universe.
Chart Of The Week (from “Deckers: Clown Shoes To Compounder”)
Three Notable Items
“Mark Zuckerberg on Muse, New Audio-Only Glasses and Killer AI”
An interview with Zuck following Meta Connect 2026. I was interested to hear him discuss Muse, an AI tool I’ve been glued to throughout the week (to pick one example, Muse helped me save about $350 per year on a GEICO auto policy with unchanged coverages). Zuck has received plenty of flack over the past five years for the non-core / FRL investments, but it feels like Meta is at a point where some efforts are converging and can bear meaningful fruit.
“I think everyone in the future will have a personal agent that can basically do things for them. It will understand their goals, their context, and get things done for them… You give it a goal, and it can just go work on things for you… You’re basically going to have an extremely capable assistant who can understand the things you care about and help get basic things you don’t want to deal with out of the way so you can focus on the things you want.”
“Ted Sarandos on Next Stage of Growth for Netflix”
A wide ranging discussion with Netflix co-CEO Ted Sarandos at Bloomberg Screentime 2026. In particular, I was interested to hear Sarandos’ comments about the evolution of their gaming strategy, the Warner Bros. deal, and competition from FAST services like The Roku Channel (TRC) and Tubi.
11th minute: “Mobile gaming was a gateway to cloud gaming; we’re much more interested in what you can do on your TV using your phone as a remote. In a post-console world, there’s going to be all kinds of opportunities for gaming on the TV – and we want to be early to invest in that.”
“How Arc’teryx Turned Climbing Gear Into a Luxury Status Symbol”
An interesting feature in the Wall Street Journal about the mountaineering brand founded by a group of climbers in Vancouver, Canada that has grown its revenue base from ~$500 million in 2020 to more than $2 billion in 2024.
“The highly technical products are designed for climbers, but the rapid brand growth has also been fueled by ‘gorpcore,’ a fashion trend where technical gear is worn as high-end streetwear… This commitment to form and function comes with a hefty price tag, with the Alpha SV jacket in the U.S. retailing for ~$900… The company has 48 repair centers [ReBIRD], aimed at helping to keep products in use longer; it’s a central part of the identity of the brand.”
TSOH Updates
Here’s the updated TSOH research list for the past six months:
Monday’s research report will be the Q3 2026 Portfolio Update.
Have a great weekend!
NOTE - This is not investment advice. Do your own due diligence.
I make no representation, warranty, or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information presented in this report. Assumptions, opinions, and estimates expressed in this report constitute my judgment as of the date thereof and are subject to change without notice. Projections are based on a number of assumptions, and there is no guarantee that they will be achieved. TSOH Investment Research is not acting as your advisor or in any fiduciary capacity.