Doug O'Laughlin from Fabricated Knowledge on management incentives at $APP

Doug O'Laughlin, Founder and Editor of the Fabricated Knowledge and Mule's Musings Newsletter, joins the Yet Another Value Podcast for the 3rd time to discuss AppLovin Corporation (NASDAQ: APP). Doug became excited about the idea and wanted to come on to chat about it because a very aggressive PSU that recently happened at AppLovin, and what these management incentives could mean for the business. For more information about Doug O'Laughlin and his newsletters, please visit: Fabricated Knowledge: https://www.fabricatedknowledge.com/ Mule's Musings: https://mulesmusings.substack.com Chapters: [0:00] Introduction + Episode sponsor: Stream by Alphasense [2:17] Overview of AppLovin $APP [4:50] What does IDFA means and why this is important when looking at $APP, understanding "Mediation" [13:19] $APP's business model and their portfolio of hyper-casual games [20:41] Unity and ironSource deal and how that affected AppLovin $APP [26:22] $APP valuation [29:30] What is the market missing about $APP? [32:52] Share buybacks [36:36] PSU grants and management incentives [39:32] What concerns Doug the most about $APP [40:23] Industry headwinds (ad rates getting crushed throughout 2022) [42:58] $APP corporate governance, acquisition hit rate, incentives [52:37] Strategic optionality of selling the games business and AI lever Today's episode is sponsored by: Stream by Alphasense Are traditional expert calls in the investment world becoming obsolete? According to Stream, they are, and you can access primary research easily and efficiently through their platform. With Stream, you'll have the right insights at your fingertips to make the best investment decisions. They offer a vast library of over 26,000 expert transcripts, powered by AI search technology. Plus, they provide competitive rates on expert call services, and you can even have an experienced buy-side analyst conduct the calls for you. But that's not all. Stream also provides the ability to engage with experts 1-on-1 and get your calls transcribed free-of-charge—all for 40% less than you would pay for 20 calls in a traditional expert network model. So, if you're looking to optimize your research process and increase ROI on investment research spend, Stream has the solution for you. Head over to their website at streamrg.com to learn more. Thanks for listening, and we'll catch you next time. For more information: https://www.streamrg.com/