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On Telltales, we bring you the 'Cashflow Memo'—a weekly breakdown of financials from various industries, guiding you through the numbers that matter. Hunt, Jason, & Mike cut through the market noise and bring you insights in your investment journey.

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Substack
PricingOnly free issuesPublishesWeekly
Issues383Founded5 years agoLast Issue3 days ago
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Latest Issues

Weekend Update - W2621

The Cashflow Memo

5 18 26 20 Pager

568KB ∙ PDF file

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Capital Structure Week

Nvidia confirmed the demand picture. Three companies restructured this week to monetize it.

The Telltales Weekend Update. Ava Ca...

3 days ago

Google's Real AI Risk Isn't Just ChatGPT

Hunt Lawrence, Mike Nicoletti, and Jason Wallace unpack why the Hormuz panic doesn’t hold, where Google’s real AI risk actually lives, and how the PBM business model is unwinding in real time. Get the Cash Flow Memo at telltales.us.

The...

5 days ago
2

Weekend Update - W2620

The Cashflow Memo

5 11 26 20 Pager

565KB ∙ PDF file

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Earnings Week Is a Split Screen — Nvidia, the Big-Box Gauntlet, and the Retail Read-Across

The AI trade and the tariff trade get tested on the same thre...

10 days ago

"Senator, We Run Ads": Inside Meta's AI Cash Machine

This week on Telltales: Hunt, Jason, and Mike pressure-test Meta’s position as an AI cash machine, walk through the Iran-driven oil setup, and unpack the FDA shake-up and a second consecutive Harrow miss.

The Cashflow Memo

5 11 26 20 P...

13 days ago

Weekend Update - W2619

The Cashflow Memo

5 4 26 20 Pager

562KB ∙ PDF file

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AI Is Finally Paying. The Question This Week Was How The Suppliers Got Paid.

Micron’s 2026 memory is sold out, with customers writing prepayment checks f...

15 days ago

Key Facts

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Find out how many people subscribe to this newsletter.

Audience Metrics

Subscribers, engagement, traffic and sponsorship for Telltales.

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Authors

The writers behind this newsletter.

  • Mike Nicoletti

    Founding Partner @ www.topmarkcapital.com

  • Holly

    Williams College class of 2028

  • Gwendolyn Lawrence

    Princeton graduating class of 2028.

  • Jason

    General Partner @ www.topmarkcapital.com

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