Montaka's Spotlight Series

Montaka Global
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Join the Montaka Global Investments team as they chat about the stocks and market dynamics that shape their decisions. Listen in for a great stock market education on basics, market commentary and learn how to invest better on your own. Follow along as we share real-time examples and investing tips that govern our stockpicks. Subscribe and leave a review. Questions? Email questions@montaka.com and we will be happy to answer!

  1. Where Advantages Lie (And Lie) in the Age of AI

    May 1

    Where Advantages Lie (And Lie) in the Age of AI

    AI agents are being framed as an existential threat to enterprise software, with some investors assuming that software platforms, seat-based models, and switching costs could be eroded almost overnight. In this episode of Montaka’s Spotlight Series, Jessica speaks with Andrew Macken, Chief Investment Officer at Montaka Global Investments, about the central argument from Montaka’s latest whitepaper: Where Advantages Lie in the Age of AI. They unpack why the AI “doomsday” scenario may be overstated, including the security risks of AI models, the power and compute bottlenecks limiting widespread agent deployment, and the practical difficulty of deploying AI agents safely inside large enterprises. The discussion then turns to where competitive advantages may actually strengthen in an AI world, including scarce compute and electric power, proprietary data flywheels, enterprise distribution, R&D scale, and irreplaceable digital assets. Andrew also explains why some advantaged businesses may have been unfairly sold off as markets price in disruption too broadly. #ArtificialIntelligence #AIInfrastructure #EnterpriseSoftware #CompetitiveAdvantage #InvestmentInsights #GlobalEquities #LongTermInvesting #MontakaGlobal Disclaimer: Issued by Montaka Global Pty Ltd ABN 62 604 878 533, AFSL 516942. This information is general in nature and does not take into account your specific needs or circumstances. You should consider your own financial position, objectives and requirements and seek professional financial advice before making any financial decisions.

    23 min
  2. Can We Trust AI Agents? Understanding Deception, Vulnerabilities & Data Poisoning

    Apr 8

    Can We Trust AI Agents? Understanding Deception, Vulnerabilities & Data Poisoning

    AI agents are becoming more autonomous—but are they trustworthy? In this episode of the Montaka Global Investment Spotlight Series, Chief of Staff Jessica Dharmasiri sits down with CIO Andrew Macken to explore three critical AI safety risks that every business leader needs to understand: 🔍 AI Models Can Deceive – Research shows models deliberately hiding their capabilities to avoid modification 🔍 AI Models Can Be Deceived – Why even extensive guardrails are mathematically insufficient 🔍 Training Data Can Be Poisoned – How just 250 documents can create undetectable backdoors From inbox deletions to system breaches, recent AI agent failures aren't just bugs—they're symptoms of fundamental vulnerabilities. But the solution isn't avoiding AI altogether. Key Takeaways: Why AI agents demonstrate unexpected situational awarenessThe mathematics behind guardrail vulnerabilitiesPractical deployment strategies: treating AI agents like unvetted contractorsHow to unlock AI value while minimizing enterprise riskWhether you're a CIO evaluating AI deployment or an investment professional tracking the AI revolution, this conversation provides essential insights into the future of autonomous systems. Disclaimer: Issued by Montaka Global Pty Ltd ABN 62 604 878 533, AFSL 516942. This information is general in nature and does not take into account your specific needs or circumstances. You should consider your own financial position, objectives and requirements and seek professional financial advice before making any financial decisions. #ArtificialIntelligence #AI #RiskManagement #BusinessStrategy #TechInvestment

    16 min
  3. The News is Bad and the Facts are Good

    Mar 4

    The News is Bad and the Facts are Good

    The noise is bad and the facts are good – KKR CEO Scott Nuttall's words from late 2025 perfectly describe many stocks in Montaka's portfolio today. In this Spotlight Series episode, Lachlan Mackay and Tim Le dissect recent financial results from Amazon, Meta, Spotify, REA Group, and DoorDash. Across the board, the results were exceptional and competitive positions continue strengthening – yet stock prices are down significantly. We explore why the market simultaneously fears both AI oversupply AND total disruption – two mutually exclusive scenarios. While short-term prices detach from reality, the team remains focused on fundamental earnings power and sees substantial upside ahead. Disclaimer: Issued by Montaka Global Pty Ltd ABN 62604 878 533, AFSL 516942. This information is general in nature and does not take into account your specific needs or circumstances. You should consider your own financial position, objectives and requirements and seek professional financial advice before making any financial decisions. #Investing #TechStocks #AI #FundamentalAnalysis#ValueInvesting

    32 min

  4. Feb 24

    The SaaS Apocalypse: Why the Market Got It Wrong

    We tackle the recent market panic head-on. With software stocks experiencing a dramatic sell-off over AI agent fears, we examine whether the "SaaS apocalypse" narrative holds up to scrutiny. Join Montaka's Director of Research Amit Nath, Senior Analyst Lachlan Mackay, and Portfolio Manager Andrew Macken as they dissect the market's assumption that AI agents will replace traditional enterprise software. Through a candid internal research discussion, we explore: 🔍 Why scale distribution—not code—is the real competitive advantage🔒 The overlooked security risks of unconstrained AI agents⚡ The massive power and compute constraints limiting AI agent deployment📊 Why enterprise customers won't hand over the keys to a single AI provider⏱️ The lengthy implementation timelines that make rapid disruption unlikely Our conclusion? The market has significantly oversold quality enterprise software companies including ServiceNow, Salesforce, Microsoft, MongoDB, and others. This represents a substantial price-to-value divergence that we believe will correct. If you're an investor trying to separate AI hype from reality, this episode is essential listening. #Investing #SoftwareStocks #AI #AIAgents #SaaS #EnterprisesSoftware #StockMarket #ValueInvesting #TechStocks #Salesforce #ServiceNow #Microsoft #MarketAnalysis #InvestmentResearch Disclaimer: Issued by Montaka Global Pty Ltd ABN 62 604 878 533, AFSL 516942. This information is general in nature and does not take into account your specific needs or circumstances. You should consider your own financial position, objectives and requirements and seek professional financial advice before making any financial decisions.

    23 min

  5. Feb 13

    Is Enterprise SaaS Dead, or Just on Sale?

    Enterprise software stocks—from Salesforce to ServiceNow and Atlassian—have been hit hard, with many down 40–60% in the last year. The market narrative? Generative AI will disrupt software creation, compress pricing, eliminate seats, and ultimately render incumbent platforms obsolete. But is that actually happening? In this episode of Montaka’s Spotlight Series, Andy sits down with Amit, Montaka’s Director of Research, to unpack what’sreal, what’s misunderstood, and where the market is drawing the wrong conclusions. Together, they explore: Why AI-driven innovation doesn’t guarantee distributionWhy incumbents like Salesforce, ServiceNow and Microsoft may benefit from AIThe difference between platforms and point solutionsWhat CIOs are actually telling vendors about budgets and adoptionWhy the real prize isn’t IT savings—it’s the $3.7T global labour cost baseAnd why terminal value assumptions today may be wildly mispriced If you’re watching enterprise software, AI agents, or thefuture of SaaS, this episode is essential listening. #EnterpriseSoftware #AIRevolution #SaaS #GenerativeAI#AIadoption #TechInvesting #DistributionMoat #Salesforce #ServiceNow #Microsoft#AIEnterprise #Montaka Disclaimer: Issued by Montaka Global Pty Ltd ABN 62 604 878 533, AFSL 516942. This information is general in nature and does not take into account your specific needs or circumstances. You should consider your own financial position, objectives and requirements and seek professional financial advice before making any financial decisions.

    28 min
  6. Beyond the AI hype: Understanding Cloud Computing's Real Moats

    12/10/2025

    Beyond the AI hype: Understanding Cloud Computing's Real Moats

    In this Montaka Spotlight Series podcast, Andy sits down with Amit Nath to challenge the prevailing narrative that AI is in a bubble. As a prelude to Montaka's forthcoming white paper on AI infrastructure, they explore critical misperceptions about hyperscale cloud providers. Perfect for: Investors, tech analysts, and anyone seeking to understand the real economics behind the AI infrastructure boom beyond the headlines. Related Content: Watch for Montaka's comprehensive white paper on AI bubble arguments, coming soon. Key topics covered: 00:00:33 - The Neo-Cloud Misconception: CoreWeave vs. True Hyperscalers 00:01:41 - Barriers to Entry: Are They Really Falling? 00:03:01 - Oracle's Gamble: A Case Study in Value Destruction 00:04:14 - Why Training Infrastructure ≠ Production Infrastructure 00:05:36 - The Fungibility Myth: When Cloud Infrastructure Matters 00:07:00 - Google's TPU Cost Advantage: 44% Cheaper Than Nvidia 00:08:36 - Breaking Free from the Broadcom Tax: MediaTek Partnership 00:12:47 - Software Moats: Attacking Nvidia's CUDA Dominance 00:13:05 - Inference vs. Training: Why Ecosystems Win 00:15:38 - The Dual-Use Advantage: Internal Demand De-Risks Buildouts 00:20:40 - Real Options: From Transformers to Quantum Computing 00:22:29 - Google vs. Nvidia: The Disruption Opportunity Tags: AI infrastructure, hyperscalers, cloud computing, Google TPU, Nvidia, Microsoft Azure, Amazon AWS, neo-clouds, CoreWeave, Oracle, OpenAI, AI bubble, investment analysis, technology investing, semiconductor industry, R&D accounting, depreciation, quantum computing, PyTorch, CUDA, inference vs training, Montaka Disclaimer: Issued by Montaka Global Pty Ltd ABN 62 604 878 533, AFSL 516942. This information is general in nature and does not take into account your specific needs or circumstances. You should consider your own financial position, objectives and requirements and seek professional financial advice before making any financial decisions.

    24 min

  7. 11/13/2025

    Why High PE Ratios Don't Always Mean Overvaluation | Montaka Investment Philosophy

    Are markets overvalued? It depends on how you look at it.In this excerpt from a recent client presentation, Andy shares our investment philosophy and why traditional metrics like PE ratios can be misleading when evaluating companies with transformational growth potential. Key Topics Covered: → Why the market persistently undervalues long-duration growth opportunities → The distribution of PE ratios in the S&P 500 today → Case studies: Why low PE stocks aren't always cheap (Charter Communications, Molson Coors) → Why high PE stocks can be undervalued (Spotify's 10x return despite 100+ PE ratio) → How we identify companies with reliable future earnings power Why This Matters:If the world is changing at an accelerated rate today versus the past, then the usefulness of traditional PE ratios may be diminishing. Understanding this helps investors identify tomorrow's winners while they're still undervalued by conventional metrics. Presentation slides available at: https://7041279.fs1.hubspotusercontent-ap1.net/hubfs/7041279/2511_Montaka_Spotlight_Series_Slides.pdf Disclaimer: Issued by Montaka Global Pty Ltd ABN 62 604 878 533, AFSL 516942. This information is general in nature and does not take into account your specific needs or circumstances. You should consider your own financial position, objectives and requirements and seek professional financial advice before making any financial decisions.

    15 min
  8. The $500 Billion AI Bet: Can OpenAI’s Massive Infra Push Ever Pay Off?

    10/06/2025

    The $500 Billion AI Bet: Can OpenAI’s Massive Infra Push Ever Pay Off?

    Last month, OpenAI committed to an extra $300 billion of revenue for Oracle — and just 12 days later, Nvidia announced a $100 billion data center investment to support OpenAI’s expansion. The scale is staggering… and a little baffling. In this Spotlight Series episode, Andy, Lachie, and Amit take you inside their internal discussions from New York as they unpack the numbers behind this trillion-dollar AI arms race. Together, they explore: How OpenAI, Oracle, and Nvidia are driving unprecedented AI infrastructure investment Whether the economics can possibly justify the spending Parallels with the dot-com and telecom overbuilds The big question: Who’s the paying customer? 🎧 A candid, data-driven conversation on hype, hope, and hard numbers in the AI revolution. ⏱️ Suggested Timestamps 00:00–01:00 | Setting the scene — the $400B+ AI buildout 01:00–03:00 | Are these investments economically rational? 03:00–06:00 | What history tells us: echoes of dot-com and telecom bubbles 06:00–09:00 | Power, CapEx, and the cost of keeping AI lights on 09:00–12:00 | Paying customers vs free users — who funds the AI dream? 12:00–14:00 | Microsoft, Oracle, and the strange logic of market reactions Disclaimer: Issued by Montaka Global Pty Ltd ABN 62 604 878 533, AFSL 516942. This information is general in nature and does not take into account your specific needs or circumstances. You should consider your own financial position, objectives and requirements and seek professional financial advice before making any financial decisions.

    16 min
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About

Join the Montaka Global Investments team as they chat about the stocks and market dynamics that shape their decisions. Listen in for a great stock market education on basics, market commentary and learn how to invest better on your own. Follow along as we share real-time examples and investing tips that govern our stockpicks. Subscribe and leave a review. Questions? Email questions@montaka.com and we will be happy to answer!

Information

  • Creator
    Montaka Global
  • Years Active
    2022 - 2026
  • Episodes
    51
  • Rating
    Clean
  • Copyright
    © Montaka Global
  • Show Website
    Montaka's Spotlight Series

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