Snapshots That Wow!

Ashes continue to rise...

When one observes the change in coal-fired power capacity by country, GW, for the last decade what is evident is that we are far from peak coal. In light of the Paris agreement, the expectation was set for a reduction in coal powered electricity plants- yet the reality is different. US- the country that has seen a highest decline in capacity now has a president at helm who says, ““I call it ‘beautiful, clean, coal’. I told my people, never use the world ‘coal’ unless you put ‘beautiful, clean’ before it,”

Source: FT

...even as the sun shines bright!

China’s net addition of coal plants comes in despite record pace of adding solar capacity (and now nuclear) as power demand simply keeps rising faster. Installed solar capacity in China has gone up almost 20x in a decade!

Source: Ember Energy

Asystole!

Iran is now experiencing a near-total nationwide internet blackout.

Just 3% of the country currently has internet connectivity. The Islamic Republic regime last did this in the country in 2019. Over 7000 people were allegedly killed in that weekend.

Source: Kobeissi Letter

Mele mein nahi hain tu akela!

With promoter blocks reaching a crescendo, it is interesting to see this insider selling currently as a global phenomenon.

Source: FT

It is never as good as it sounds

But not as bad as it looks either- the reality of the declining FDI flows is a global one. According to the World Bank, FDI flowing into emerging markets has fallen dramatically as a share of GDP over the last 10-15 years. In 2008, the typical developing economy received FDI equivalent to nearly 5% of its GDP. Today, that figure has plummeted to just over 2%.

To India, this trend is tremendously important. We currently stand as the third-largest FDI recipient among developing economies, capturing about 6% of total FDI flows to EMDEs between 2012-23. Only China (33%) and Brazil (10%) receive more.

Source: Markets by Zerodha

TAM < GMV < Sales < Contribution < EBITDA < FCF

The more mature a business model, further along the title will they find their solace and pitch to investors. By that logic, AirBnB seems to have reached a peak of Nirvana with 40% FCF margins!

P.S. I would like to make discussing cash profits, Net OCF margins and FCF margins mandatory in earnings reports- please!

Source: Quartr