The hottest Investor Relations Substack posts right now

And their main takeaways
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Top Finance Topics

Intel Board Chair Frank Yeary Retires

More Than Moore • 280 implied HN points • 09 Mar 26
đź•ą Technology Investor Relations
  1. Frank Yeary is retiring as Intel’s board chair effective May 13, and Dr. Craig H. Barratt will become the new chair, with the board shrinking by one member.
  2. Barratt’s rapid promotion underscores Intel’s move to prioritize technical and operational experience on its board given his background at Atheros, Google Fiber, and Barefoot Networks.
  3. The chair change is primarily a signal to engineers, customers, and investors about Intel’s focus on proving its 18A nodes and foundry strategy, but it won’t solve manufacturing or yield issues—public 18A yield data and customer commitments will be the real test.

Lessons of a First-Time Fund Manager

The Generalist • 1621 implied HN points • 05 Feb 26
đź’Ľ Business Investor Relations
  1. If this is your first fund, resist the urge to rush deals to prove yourself; take the time and deploy at a pace that fits your strategy rather than following hot rounds or other people's urgency.
  2. Build real relationships and show conviction — first checks earn special trust, and being helpful or decisive can win you access even without a formal raise; for a small fund, fighting for every extra dollar matters.
  3. Get better at reading hard-to-explain signals and prefer simple, clear investment theses; progress is nonlinear, top investors can be wrong or uncover things you miss, and most funds will make many bad bets, so stay humble and proactive in sourcing.

Founders - stop using AI to write your investor emails.

1517 Fund • 787 implied HN points • 15 Jan 26
đź’Ľ Business Investor Relations
  1. Investors can tell when emails are AI-generated, and that usually kills trust and makes them skip your message.
  2. How you write reveals how you think and make decisions, and polished AI copy hides those signals so investors can't judge your competence.
  3. Fundraising is about real relationships and your unique story, so outsourcing emails to AI looks lazy and flattens the personal edge that gets investors interested.

Problems at Aduro Clean Technologies (ADUR)

The Bear Cave • 233 implied HN points • 15 Jan 26
đź’° Finance Investor Relations
  1. The company is an early-stage clean tech with very little revenue (around $200k) but sizable losses (about $11M) and a very small team.
  2. Management has spent heavily on paid marketing, investor relations, and sponsored social media campaigns, including cash fees and stock options to promoters.
  3. The stock’s big rally looks driven more by retail promotion and paid liquidity support than by clear business fundamentals, so investor enthusiasm may be premature.

The Bear Cave #305

The Bear Cave • 349 implied HN points • 21 Dec 25
đź’° Finance Investor Relations
  1. Activist investors released critical reports on several public companies, saying those firms inflate revenue and margins or misrepresent their business models.
  2. A string of recent executive departures — especially CFO resignations and a few CEO exits — suggests leadership instability and possible deeper operational or financial problems at multiple firms.
  3. Nutex has been targeted repeatedly by different short sellers for alleged arbitration, medical billing, and accounting fraud, creating heightened scrutiny and elevated risk.
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OpenAI's Enterprise AI Strategy Is Coming Together (2026)

Enterprise AI Trends • 168 implied HN points • 21 Jan 26
đź’Ľ Business Investor Relations
  1. OpenAI is shifting from selling raw API tokens to outcome-based, value-sharing deals where it takes a percentage of the value its models help generate.
  2. After cutting inference costs and building ad and free-tier infrastructure, OpenAI is reaccelerating enterprise efforts with consulting, partnerships, and senior sales hires to win back customers.
  3. Combining value-based pricing with service-led sales and org changes aims to prevent model commoditization, capture more application value, and raise switching costs for rivals and clients.

Naming and shaming in Japan

Asian Century Stocks • 884 implied HN points • 17 Jan 24
đź’Ľ Business Investor Relations
  1. Japan's corporate governance reforms, starting with Abenomics, have been driving positive change in the capital allocation practices of Japanese companies.
  2. The Tokyo Stock Exchange's new listing structure, especially the Prime Market, has raised standards for companies, promoting better corporate governance.
  3. The practice of naming and shaming low price/book ratio companies in Japan is pushing them to improve profitability, enhance investor communication, and comply with new capital allocation rules.

The Second Desert in Venture Capital

Venture Reflections • 29 implied HN points • 02 Feb 26
đź’Ľ Business Investor Relations
  1. The first "desert" (Funds I–III) is about survival: raising initial funds, proving your right to win, and juggling operations, investments, and LP relationships to stay alive.
  2. After you clear that phase you enter a second "desert" where the challenges shift to long-term firm questions like longevity, succession, and whether you’re truly established.
  3. The mid-stage can feel lonely and ambiguous: early peers and mentors thin out, fundraising dynamics change, and you need new advisors and skills to navigate this uncertain transition.

Why Do Great Ideas Often Fail The 'Elevator Pitch' Test? | VC Jobs

Venture Curator • 179 implied HN points • 30 Apr 24
đź’Ľ Business Investor Relations
  1. Raising capital is a sales process where founders sell trust and confidence in building something valuable. Understanding VC decision-making dynamics increases the likelihood of closing deals.
  2. Knowing the structure and decision processes of VC firms can help founders navigate partnerships and improve their chances of success.
  3. The key to success in VC pitch meetings is building relationships with various partners within a firm to gain broader support and increase the probability of getting to a 'yes.'

10X @ JPM

ASeq Newsletter • 29 implied HN points • 13 Jan 26
đź’° Finance Investor Relations
  1. 10X presented at JPM after releasing preliminary full‑year results, and Serge’s clear, confident presentation showed a strong command of the company’s technology and market which made the talk engaging.
  2. They emphasized potential clinical growth; if clinical revenue expands strongly it would be a positive development and could push the business toward a mostly clinical market like Illumina.
  3. Oncology was flagged as an important clinical area of focus.

Fosun’s Green Valley Deal: The Risk Isn’t Just Whether GV-971 Works

Pekingnology • 33 implied HN points • 29 Dec 25
đź’Ľ Business Investor Relations
  1. The market selloff reflects not just scientific doubt about GV-971 but major reputational and regulatory risk tied to Green Valley’s history.
  2. Green Valley has a long record of marketing and compliance scandals — including unlawful advertising, forged promotional materials, bribery, revoked approvals — and GV-971’s broader efficacy claims rest on limited and contested evidence.
  3. Key background on Green Valley’s past was largely missing from Fosun’s disclosure and much international coverage, which matters because the deal and the drug’s future still depend on regulatory approval and confirmatory clinical data.

Market Movers - 20 October 2023

The Wolf of Harcourt Street • 319 implied HN points • 20 Oct 23
đź’° Finance Investor Relations
  1. PepsiCo exceeded analyst estimates in Q3 earnings by focusing on consumer interaction and pricing for smaller packs.
  2. Adyen's Investor Relations Update hints at strong Q3 results and their launch of Tap to Pay for Australian retailers.
  3. Block, previously Square, made another costly acquisition with Hifi, a music-focused fintech startup, following previous less successful deals.

Oxford Nanopore @ JPM

ASeq Newsletter • 14 implied HN points • 13 Jan 26
đź’Ľ Business Investor Relations
  1. Oxford Nanopore presented at the JPM conference following the release of preliminary results.
  2. Management reiterated their commitment to deliver break-even by 2027.
  3. They didn’t report full losses; cash reserves appear consistently down and cash reverses could mean reported losses are smaller than earlier expectations.

How to Talk About Valuation Numbers When Investor Ask? | VC Remote Jobs & More

Venture Curator • 179 implied HN points • 06 Nov 23
đź’Ľ Business Investor Relations
  1. When discussing valuation with investors, avoid naming a specific price but instead give a general range to 'anchor' them and test their reaction.
  2. Be prepared to discuss your past fundraising, including the post-money valuation and amount raised, as VCs use this information to assess fit and potential issues.
  3. When asked if existing investors are participating in the round, balance showing their support with the need to meet new investor expectations while maintaining good relationships.

Boeing Stock Rallies Along With Employee Suicide Rates in What Wall Street Is Calling “The Greatest Workforce Reduction Since Last Quarter”

Davidovits! • 59 implied HN points • 13 Mar 24
đź’Ľ Business Investor Relations
  1. Boeing stock is rising despite a surge in employee suicide rates, leading to a significant reduction in workforce and more profits
  2. Boeing leadership's controversial approach includes encouraging employees to end their lives to maximize profits, which is drawing criticism from economists
  3. Investors are pleased with Boeing's focus on reducing workforce and increasing profits, showcasing the unusual inverse correlation between employee happiness and financial gains

How to improve an earnings call

Klement on Investing • 1 implied HN point • 12 Feb 26
đź’Ľ Business Investor Relations
  1. Earnings calls that get more people to actively listen lead to higher trading volume and a better immediate share-price reaction.
  2. People tune in more when calls aren’t scheduled against other events, include slide decks and clear forward-looking numbers, and when presenters speak at a measured pace, vary loudness a bit, and avoid frequent speaker changes.
  3. Don’t try to dazzle or overload listeners; keep the content moderately complex, minimize disruptions, and help investors get into a flow state.

Oxford Nanopore Firesides

ASeq Newsletter • 7 implied HN points • 04 Dec 25
đź’Ľ Business Investor Relations
  1. The company's CFO led public conversations about technology and customer topics, speaking in a role I'd expect from a CEO.
  2. He came across as capable and handled the discussions well, even though some viewpoints may differ.
  3. More detailed notes and content are behind a paywall, but links to the fireside chats are provided for further listening.

Wall Street investors punish Cigna for not promising them bigger profits.

HEALTH CARE un-covered • 139 implied HN points • 04 Feb 22
🏥 Health Politics Investor Relations
  1. Cigna's stock dropped significantly because investors were unhappy with the company's profit expectations for the year. This shows how much pressure companies face to make big profits.
  2. Instead of using their money to help customers with lower premiums and out-of-pocket costs, Cigna preferred to buy back shares to boost profits just for shareholders.
  3. Overall, more people are feeling underinsured as healthcare costs rise, even with higher premiums, just so big companies like Cigna can keep investors satisfied.

The Big Reset in Seed to Series A Graduation Rates is Real and Permanent

Venture Reflections • 35 implied HN points • 25 Oct 23
đź’Ľ Business Investor Relations
  1. There is a significant drop in the percentage of seed-stage companies graduating to Series A rounds.
  2. The Series A market has been quiet in the past 18 months, especially outside of AI-related investments.
  3. The venture landscape is shifting towards more capital-efficient seed-stage companies with challenges in raising Series A rounds.

Dilution from Mega-Seed Rounds

Magis • 36 implied HN points • 19 Jun 23
đź’Ľ Business Investor Relations
  1. Startups can raise large upfront rounds to de-risk future fundraising and take advantage of money's present value.
  2. Founders should benchmark their equity dilution against similar funding rounds to understand ownership implications.
  3. Raising more capital than necessary can lead to giving away equity at a discount, especially for capital-efficient startups.

Finding “Founder <> Investor Fit”

Equal Ventures • 19 implied HN points • 16 Jan 21
đź’Ľ Business Investor Relations
  1. Investor-founder fit is crucial in venture dynamics. This involves understanding if you need a cheerleader or a trainer investor.
  2. Investors can be categorized as cheerleaders or trainers - those who offer support and those who push for improvement.
  3. Knowing the type of investor you want, whether hands-on or hands-off, is important for aligning expectations and achieving success in your startup.

Clouded Judgement: IPO Process Overview - Are IPO Markets Opening Soon?

Clouded Judgement • 12 implied HN points • 02 Aug 23
đź’Ľ Business Investor Relations
  1. The IPO process involves selecting investment banks known as the "Bakeoff" where the company chooses banks to help with the offering.
  2. Before going public, a company prepares the S-1 document, audited financials, and a presentation for potential investors.
  3. After the IPO pricing, the company completes the Roadshow to meet with investors and determine allocations, leading to the first day of trading.

If Tim Cook does not care about the "bloody ROI", does he care about the "bloody stock price"?

Musings on Markets • 0 implied HN points • 03 Mar 14
đź’Ľ Business Investor Relations
  1. Tim Cook's focus on social responsibility may conflict with the business goal of maximizing profits. Companies should balance doing good with making money.
  2. Transparency is key in corporate social responsibility. Companies need to share how much they are spending on social initiatives with shareholders.
  3. Shareholders should have a say in how companies operate, especially regarding spending on social issues. Not including them in the conversation can create mistrust.