IP

LightseekerLife

Large corporations will be the last to move, but also this software runs locally and being open-source means it is actually easier to vet for any malicious code than Adobe's is. In theory, there is greater risk of IP theft from closed-source Adobe software that could export IP without your knowledge than an open-source alternative that is run locally.

LightseekerLife

They don't claim to be a perfect clone yet. They are pushing for end of month parity, which I think that they will achieve. But yes, I agree that outside of legal action and IP law changing, closed source software will be very difficult. For a while, people will keep paying for the entrenched software, but as it becomes equitable and companies get guarantees that they don't open themselves to legal risk with free/cheap alternatives, they will switch over time. It will be a slow bleeding death for Adobe, but I think at this point it is all but certain.

LightseekerLife

I am a software engineer. I have done software engineering vocationally for over a decade. Now, Opus 5.5 and GPT 6 plan code and execute better and faster than I ever feasibly could. It has its limitations in design and taste, but a tool product like this doesn't really require either of those things. Software engineering is a dying field. Unless you are a principal engineer who can do high-quality MR reviews, or a visionary who sees the product that customers need, then the engineers are replaceable. React has 21,000 commits over a 13 year lifespan. Photocraft has 1,700 commits in just over a week. Are Opus 5.5 and GPT 6 perfect? No. But, big companies aren't going to care about phone numbers to call when they can submit a ticket for an issue at 2:05 PM on a Friday and have a patch with a fix by 2:50. Claude can help solve the problem and create the long-term solution faster than the call center agent can even pull up your account information. No one is calling or emailing any more other than companies that will be moving too slow to compete in the market and will die to survival of the fittest. I don't think you understand where this is going and it seems like you are not a software engineer, or if you are, your ego blinds you. Closed source software is about to be impossible to sell unless you have a novel concept that you can quickly capitalize on or if IP law rapidly advances for the new landscape.

Legitimate_Risk_1079

LW | Lamb Weston Holdings - Current Price: $47.87 - Current Market Cap: $6.60B - Bull Target (12–18m): $65–$75 - Bear Target: $32–$37 - Upside: +36% to +57% - Downside: -23% to -33% - Reward-to-Risk: ~1.6:1 - Success Probability: 60% (estimated) - Expected ROI: +12% (estimated) - Forward P/E: 14.46 - Debt-to-Equity: 2.16 🔴 - Dividend Yield: 3.18% - 1-Year Return: -25.9% 🔴 - 5-Year Price Return: Approximately -15% 🔴 - Profitability: Profitable 🟢 - Revenue Growth: +2.6% 🟡 - Free Cash Flow: Positive 🟢 - Price Trend: Long-term downtrend 🔴 - Bull-Case Market Cap: $9.0B–$10.3B - Comparable Companies: Conagra, McCain Foods - Risk: High - Conviction: 5/10 - Grade: B- Lamb Weston produces frozen potato products for restaurants and retailers. I see turnaround potential following improved guidance, but elevated debt, weak shareholder returns, and modest growth limit my conviction. --- GEV | GE Vernova - Current Price: $1,004.73 - Current Market Cap: $267.6B - Bull Target (12–18m): $1,250–$1,400 - Bear Target: $750–$850 - Upside: +24% to +39% - Downside: -15% to -25% - Reward-to-Risk: ~1.6:1 - Success Probability: 70% (estimated) - Expected ROI: +17% (estimated) - Forward P/E: 47.81 - Debt-to-Equity: 0.28 🟢 - Dividend Yield: 0.20% - 1-Year Return: Approximately +66% 🟢 - 5-Year Return: N/A (2024 spin-off) - Profitability: Profitable 🟢 - Revenue Growth: +13% YoY 🟢 - Free Cash Flow: Strongly Positive 🟢 - Price Trend: Strong long-term appreciation 🟢 - Bull-Case Market Cap: $333B–$373B - Comparable Companies: Siemens Energy, Mitsubishi Heavy Industries - Risk: Moderate-High - Conviction: 8/10 - Grade: B+ GE Vernova manufactures power generation equipment, gas turbines, and electrical grid infrastructure. I like its exposure to accelerating electricity demand, strong cash generation, and manageable debt, but its premium valuation prevents an A grade at today's entry price. --- BSP | Bending Spoons - Current Price: $38.01 - Current Market Cap: $22.84B - Bull Target (12–18m): $48–$55 - Bear Target: $25–$29 - Upside: +26% to +45% - Downside: -24% to -34% - Reward-to-Risk: ~1.3:1 - Success Probability: 55% (estimated) - Expected ROI: +5% (estimated) - Forward P/E: 23.11 - Debt-to-Equity: 3.94 🔴 - Dividend Yield: 0% - 1-Year Return: N/A (July 2026 IPO) - 5-Year Return: N/A - Profitability: Profitable 🟢 - Revenue Growth: +427.5% YoY, acquisition-driven 🟡 - Free Cash Flow: +$453M 🟢 - Share Dilution: +13.6% YoY 🔴 - Price Trend: Volatile since IPO 🟡 - Bull-Case Market Cap: $28.8B–$33.1B - Comparable Companies: AppLovin, Adobe, Constellation Software - Risk: Very High - Conviction: 5/10 - Grade: B- Bending Spoons acquires and operates digital businesses, including established software and internet platforms. I like its profitability and cash generation, but substantial debt, acquisition dependence, and limited public trading history make the reward-to-risk unattractive at this valuation. --- ENSIF | EnSilica - Current Price: $1.25 - Current Market Cap: Approximately $165M - Bull Target (12–18m): $1.80–$2.20 - Bear Target: $0.65–$0.80 - Upside: +44% to +76% - Downside: -36% to -48% - Reward-to-Risk: ~1.5:1 - Success Probability: 45% (estimated) - Expected ROI: +5% (estimated) - Forward P/E: Approximately 19.9 - Debt-to-Equity: 21.82 🔴 - Dividend Yield: 0% - 1-Year Return: Positive, approximately +69% on London-listed shares 🟢 - 5-Year Return: N/A (2022 listing) - Profitability: Weak/near breakeven 🟡 - Annual Revenue: Approximately £27.8M - Free Cash Flow: Not reliably established - Price Trend: Strong recent recovery, highly volatile 🟡 - Bull-Case Market Cap: Approximately $238M–$290M - Comparable Companies: Sondrel, Alphawave IP - Risk: Extreme - Conviction: 3/10 - Grade: C EnSilica develops custom semiconductor chips for industrial, automotive, and communications applications. I see potential in its specialized chip-design capabilities, but extreme reported leverage, limited scale, and thin OTC liquidity make this too speculative for my preferred investment strategy.

staythewaters

They'll steal IP, absolutely. That's different than asking it directly to create something in the style of that IP.

Sufficient_Habit5091

They love stealing IP and it has 100% zero to do with that. It's a political cartoon. If I say "make an arbitrary man say X Y Z" in the style of X Men, it will happily do it. But if I make it about a real politician they won't.

staythewaters

The major AI chats have never been comfortable playing with IP, or even get near it.

origami_bluebird

yeah the question should be: Starlink D2D (which can only send delayed texts and drains your phone battery causing Tmobile to abandon the partnership) Can it compete with: The big 3 MNOs (verizon, att, tmo) along with 40+ Global MNOs who already have agreed to revenue split with AST whose proven can deliver 5G speeds, unlike Starlink with their inferior tech (don't confuse it with normal Starlink to router, cell phone is different) knowing that Elon is trying to put them out of business. Its not even close if you understand the business plan and tech differences and why AST is the best investment possible based on their spectrum assets and IP being worth more than current market cap of $19B

shawnington

https://preview.redd.it/wwwi4tjxdwuh1.png?width=1600&format=png&auto=webp&s=75ef5d09e27a9e9a588dd600be1b35fbba4c7477 Yes. Here is the entire function to do Hue vs Saturation curve adjustments on an image. These took 5 minutes to write for each image function. The only change to this or any other function to make it a brush, is to pass in coordinates to bound the area that is being transformed. thread\_position\_in\_threadgroup is used in functions that do this. Apple silicon GPU's are arranged as a NxN grid of thread groups that each core is responsible for. My case is 32x32, then thread\_group width is image\_width / 32. The gid, tell you the offset of the thread\_group you are in and the tid tells you the where in the thread\_group you are, which makes brush operations very efficient. If you have a 3200x3200 image, and you have a 1px brush, instead of checking each pixel to see if its the right one, you check 32 grids, to see if the grid is the right offset, then you search in thread\_group that grid represents, if it bounds your coordinates. Congrats, none of the image operations are more complicated than this. You can also no write your own clone without vibe coding. And layers are even easier... since apple has an entire swift library for handling texture blending and opacity natively. So you literally just say, this texture goes over this texture, and here is the alpha, and this is the kind of blending I want. Like I said, I did it in Swift, just for Apple Silicon. I didn't need to support 1500 vendors, or hardware versions, or be backward compatible with real old hardware, which is most of the complexity of even the open source editors. People over estimate the complexity of Adobes moat, and their software. It consists entirely of IP that covers the UI layouts, and peoples reluctance to re-learn how to do something they already know how to do in another program.

deneuvig

By safe I mean that using an open weight model on a hosted platform gives much less risk of my proprietary data and IP to be leaked into training data and or the Internet by frontier Labs trying to train on huge amounts of data. I'd much rather work with the companies whose incentive is only to charge me compute, and leveraging models who have already been trained, inference only. The cost basis may not be that different but the incentives of each actor are more aligned in my favor IMHO.  For instance in my own company if we ever were to have a leak of data from what we're giving Claude as far as our own clients data that would be a 9/11 for us, and I work for a very large financial firm. I'm pretty sure people have that on the back of the mind on a daily basis at the top 

The_Macro_Investor

Does that include IP ban?

deneuvig

Except they've been leaders in that field for 1 year, and have no moat. Open weight models are both cheaper and safer for large companies to use down the line just to avoid leaking their IP to shady frontier labs. OAI and Anthrophic are low key cooked imho, the level of growth they need to see to be profitable is just not an existing market, and the cost of debt is increasing, large companies are already limiting vendor lock and vendor spend, preparing themselves for the next wave of usable models and harnesses.  Frontier models have no moats, ultimately

ImNotHere2023

What "high quality data" do they have that others don't - particularly those training in countries with a much looser view toward IP?

Appropriate-Alarm-70

Building a surplus country or highly profitable company requires cheap labor. It is the case with China or USA or India. It is always comparable one against another. Which is cheaper? Who makes money by getting it cheaper? Why America is losing jobs from the last few decades? Globalization! If other countries can work for cheap or make products cheap, why would American rich (Tech) would want to spend more to manufacture in America or produce in America unless it commands a premium? They hold IP but can produce anywhere in the world (cheapest). It was the case for services or software until frontier AI made great progress. From now on, those jobs will disappear or offshored unless strictly required by law to keep in USA. In the end, American companies will suck money out of all countries and they will control Space, Tech n AI. China might compete, and may have acceptance in few countries but big money is mostly made in western countries which are not going to allow Chineese tech.

Delicious_Put_5857

they'll prob get their IP bought by google or somethin in 3 years for $4/sh

InternetRando12345

Easy fix for this: US Patent office refuses to enforce patent infringement if you outsource in this manner. Sure, go ahead and grant access to strangers in foreign countries that are legally allowed to steal all IP

Dependent_Echo4073

yeah if AI keeps growing you’re likely to see memory prices stay high until the next fab cycle kicks in, so Samsung will keep leaping. that Mistral partnership is a smart move, but the risk is that if it gets too deep into their IP the startup could feel the squeeze. still, betting on the chip side looks solid right now.

Either-Physics-4369

There’s no such thing as insta perma. The IP ban is around 2 weeks. Don’t ask me how I know.

Bwint

The amazing part is that they've already designed a vehicle that's fully capable of operating on the surface of Mars (the Cybertruck, per Elon.) With so much engineering already done, the value of the IP is immense! Little additional R&D needed; the future is incredibly bright! /j

DickRiculous

Not true of enterprise customers. Enterprise customers are by default opted out of having their chats used for training. That doesn’t mean glitches can’t lead to IP leakage, but as far as you and Op are concerned it’s clear to anyone who uses enterprise OpenAI you don’t actually know what you’re talking about.

Viktri1

It’s got to be IP theft. Creating a commercial could easily be distilled into a model. And then the model would be able to produce the firm’s style of commercial (as in the way they built out commercials) quite easily and directly compete.

The_Smoking_Pilot

I don’t think selling tokens is the long term business model. IP.

amanj41

I don’t know the details TBH. My company has high value IP and management seems overall content with Anthropic’s ZDR.

vladamir_the_impaler

You have to ask it or a separate agent to analyze the code and look for lurking bugs, unintended behavior etc, and this goes on like 5-6 times before it comes up with something decently solid. That being said, humans also go through that process when writing code. Lastly, I hate AI but it's here so what are we really going to do, not use it? Lastly again, I hope OpenAI goes bust and their IP sold in bankruptcy court or something.

Western_Building_880

use AI they say then they steal ur IP they beat u to market and say. "nah it is not possible" people are fools if they think their prompts ideas won't be scanned by agents. Only way to use ai through private module keep ur data private.

SanDisk_Made_Me_Rich

The problem is OpenAI is just stealing IP and repackaging it as their own. No enterprise or serious research entity will risk feeding sensitive data into OpenAI or Anthropic only to watch it get scraped and monetized against them. Their enterprise market is dead on arrival. Consumer subscriptions for recipe ideas and casual trivia won't cover the burn rate and that's not where the real money is at.

LukkyStrike1

Gemini keeps telling me: "cannot provide answer due to the sources being not allowed".... At this point i am convinced that it is soft hacking for resources. Specifically i was doing a hail mary in getting some old Comcast IP phones to work over a VoIP only modem i had from them. It was very close to giving me an answer to get inside the modem/router in a way that was not supposed to happen. How it found the info to do so, and then self sensor the source....was odd. Happened 2 times.

Far_Preference_2065

They sold the LS&H division to guarantee that they would survive. That was their worst business, with the lowest margins. The two remaining businesses are #1 / #2 in oligopolies markets, although they've been experiencing zero growth because academias are strapped for cash worldwide, and the IP business is in a cyclical downturn. The stock has been trading down on low volume, simply because there are no buyers. Value investors look at the debt figure and stay away, growth investors see negative growth and move on. At this point it's trading at around 3 times earnings, although the debt is still high. As they've just received the cash from the sale of LS&H, and they get paid in advance in Q1 for most of their products, they can rapidly deleverage from a >4x net debt / EBITDA ratio to \~3.5x. The target is to get to a 2.5x ratio by 2029, which is achievable. In 2029 they could decide to allocate half of the cash flow to buybacks and half to debt repayments. At the current prices this would still shrink the share count by over 10% / year, while still paying down expensive debt. As the business rapidly derisks itself, if it starts showing a return to low / mid single digit growth the market will re-rate the stock. I think this is a $7 stock by 2031 as long as they don't start again acquiring SaaS businesses at stupidly high valuations. As for insiders, it's true that Snyder selling isn't a great look, but you have to look into the context that he got these shares from the ProQuest acquisition as part of a cash / stock deal and it's already independently wealthy because of that. The shares he sold are basically pocket change for him. Kenneth Cornick is also on the board and a recent buyer, and his $2M dollar purchase represents higher conviction than the sale of $4M from Snyder, that is already a billionaire.

Wise138

Adobe has the licensing for IP...

Prize_Compote_207

Lmao bro pretending patents and IP matter when the Trump family has a tiny lil raging boner for all things AI is laughable. Property doesnt matter anymore. Everything written by collective humanity is now the sole property of 7 guys.

kbcool

It's only a matter of time before the big AI companies are held accountable for the massive IP theft heist going on and the slop built on it is also subsequently pulled or at least brought to a standstill. Traditional users paying huge amounts for Adobe products weren't about to risk using the slop. People who pirate their products for individual use will continue and the slop may or may not be used but who cares. So what's the impact?

mattmentecky

Lol, You are viewing the word from your window convinced that duplicating UI and simple features is actually a significant development. GIMP and Inkscape have existed for literal decades, completely free, how has that affected Adobe? What about all of the legacy custom color management, the hardware accelerated raster pipeline across all different GPUs, all of the legacy/custom plugins and scripts, render farms that large production companies rely on that would see costs spike if even a 1-3% discreprency adding costs right to the bottom line. Adobe's AI play (Firefly) was trained on its own shit so they offer full IP indemnification. Who does a user sue for IP theft on your vibe coded POS? Integrating Google or OpenAI isn't a bad sign its a good sign, foundational models are headed towards commoditization, Adobe is building value on top of them, you arent getting a single enterprise candidate for anything creative if you can't indemnify the stuff you generate from it.

imustbegthequestion

Mothering MUTHAFUCKING BULLISH TO THE MAX CAPS ALWAYS ON CALLS IN INTERNATIONAL PAPER $IP. PRUDISH PORTUGAL HAS CHARLES CHARLOTTE'S BACK. MUITO OBRIGADO MY CARIOCA FRIENDS. I'LL BE BACK FOR CARNIVAL NEXT YEAR.

beryugyo619

Or an elaborate plot to modernize China ASAP. Everything comes from China or Taiwan, made from Japanese ingredients and American IP. So anything materially significant is closed to East Asia.

TinyPomelo5

They are stealing tons of "old world" data - like their book burning parties where they buy, scan then burn books. Seriously? Can anyone involved with AI explain why books need to burned and why the creators aren't financially rewarded for every time their IP is accessed? What. A. One. Sided. Scam.

Own-Recipe5908

Culture? IP? It's raw compute, which is a moat but the amount of training needed to make gains scales exponentially, so in order to keep the moat you must spend exponentially more on chips and data centers to stay ahead, the problem is none of this shit is making exponentially more money with the training.

Own-Recipe5908

Wait-a-sec don't tell me you don't know what fine-tuning a model is? I'm not saying they're training a model from scratch, they can train an open-source model with their own data in house. And yes, it literally does happen the fuck do you think huggingface is and why nvidia bought it? It isn't the default yet, but it's trending that way. And google's models benchmark within n-1 range of Claude at all times, no one is super ahead of anyone, there were times when the best benching models were kimi, qwens or deepseeks. And, literally from yesterday: [As OpenAI and Anthropic battle over data privacy, more companies turn to open models | Fortune](https://fortune.com/2026/10/05/openai-and-anthropic-battle-over-zero-data-retention-zdr-data-privacy-companies-look-to-open-models-and-sovereign-ai/) >A month later, both [Microsoft](https://fortune.com/company/microsoft/) CEO Satya Nadella and [Palantir](https://fortune.com/company/palantir-technologies/) CEO Alex Karp [warned](https://fortune.com/2026/07/16/microsoft-ceo-satya-nadella-warns-enterprises-that-ai-labs-are-stealing-their-know-how/) companies against relying on AI models from frontier AI companies, saying that they risked having the IP siphoned off. “You essentially pay for intelligence twice, once with money, and again with something even more valuable: the proprietary knowledge you must reveal to make that intelligence useful,” Nadella said. OpenAI and Anthropic have stated they do not train their models on enterprise data. >companies are looking to diversify their AI usage, and reduce their dependency on the leading AI companies. The term du jour for this is “sovereign AI,” referring to a company’s ability to control its own “AI stack”—everything from owning the chips on which AI workloads run, to setting up proprietary cloud infrastructure, to using open-source models that a company can download and run in their own cloud environments.

0pet

The moat is in the culture and IP that allows the models to leapfrog in intelligence and efficiency.

AccordingCup2110

Was thinking through this this morning on my drive into work. Also ignore the Ghidra guy, these verifiable decomps are completely new. While there are some silly pass through versions of these game hybrids, that’s the most boring version and not what I think you’re talking about. I came to the same two extremes as you but realistically neither will be the actual outcome, I think it will be a reckoning for copyright, which is already a dying/barely legislated sector of law. My guess is the initial 3-5 years will see a directional push to create massive walled gardens (your scenario 2), with open source defeaters consistently creating new challenges for this model, and eventually we will arrive at a new framework that allows people to purchase IP to decomp very easily

BatteryAcid420_

If you use AI to create fan art that‘s not a copyright issue in my eyes, like I said adding to existing content is fine. Web crawlers don‘t use the content to learn and literally can‘t abbreviate it. The google AI answers have reduced traffic to websites on the other hand, and GPT makes it worse. Also GPT lies about what data it‘s trained on and what data it has access to, which shows the developers are as aware of copyright and privacy issues as I am. Pirates do share revenue with IP owners if they are making a lot of it and can come to an agreement with the IP owner. For example the GTA series has a huge modding community, it gives the IP owner two choices: sue them all or work together. They chose the latter and it added to their product. A lot of features created by the community are now part of their next release, the biggest in history, so at the very least it gives them inspiration and more exposure. From the copyright laws: 1. Amount and substantiality: How much of the original work was used relative to the whole. 2. Effect on the market: Whether the new use harms the current or potential market for the original work. AI breaks both of those clauses regularly.

Old_Bat1681

All it takes is an AI to teach a lawyer how to find what the AI trained it on and subpoena it and they're cooked. IP copyright infringement puts will make a killing.

BatteryAcid420_

Everyone whose IP is stolen cares, everyone whose children AI misinforms, etc. „as long as they obtain copies of those works legally.“ Copyright needs a clause for „steal my work and distribute it to millions of people“ then. Even if AI gives the source link it scrapes your content without consent. People pirating content to create fan art are doing the opposite of an LLM, adding to the existing content instead of scraping and monetizing it. There‘s plenty of niches where pirates monetize content, too, but if that‘s done at any larger scale then contracts are made and revenues are shared.

soapboxracers

China is nowhere close to a Starship, and there are plenty of reasons companies wouldn’t use China for launches (both regulatory and IP reasons). The rest of your points are valid but SpaceX is incredibly far ahead when it comes to launch capabilities.

grigribs

Alpha Tau does not own Ra-224 itself, nor the general concept of using it for intratumoral alpha therapy. Its patents mainly protect specific implementations of the DaRT technology: controlled release, polymer/source design, applicators, manufacturing methods, etc. A competitor could theoretically develop a different Ra-224 delivery system that avoids those claims, but reproducing DaRT closely would likely create significant IP risk. So the patents are a strong moat, but not an absolute lock on the entire Ra-224 market.

musicandarts

Does their IP stop current brachytherapy centers from infusing Ra 224 beads? It feels like their IP is in their device. We already have brachytherapy equipment that places other kinds of radioactive beads in solid tumors, right?

musicandarts

Am I correct in assuming that the company is opting to get a conditional accelerated approval using response data? I am not sure if survival benefit can be confirmed in a randomized controlled trial. What is the intellectual property in this product? We have brachytherapy equipment made Siemens etc that can be used for this purpose, right? I believe other companies are developing Ra 224 beads too. So, can't anyone put these two together and create the same therapy, without infringing any IP?

_DoubleBubbler_

No they are fabless and to quote todays results announcement… ‘EnSilica is now Europe's largest independent commercial fabless ASIC company and one of only four European members of the TSMC Design Centre Alliance, giving us a direct path from advanced-node design to volume supply and, with our growing re-usable IP portfolio, the credibility to win against far larger competitors.’ As well as TSMC who have foundries around the world, EnSilica also work with other firms such as X-FAB, GlobalFoundries and SK Foundry amongst others I believe.

tworipebananas

Yes but owning eBay IP + GME storefront and logistics infra would be legendary for the business

greenpride32

>Can someone explain to me how the stock market is basically a separate entity from the economy? For simplicity, we'll call the stock market the SP500 index. The index is made up of 500 of the largest and profitable public companies. This 500 is out of the 7000-8000 stocks that trade on NYSE and NASDAQ. It vets out a lot of the lower performing companies and you are left with the top 6-7%. And that's just publicly traded companies - if you were to factor it any company such as smaller ones making $1m to $50m revenue, or even down to moms and pops shops, well this is very elite company. Think of it similar to professional sports - so few people make it here, and then even fewer are the elite all starts, or even higher MVP's and Hall of Famers. Or admissions into the elite universities; your SP500 are the Ivy League, MIT and Stanford group and the top companies are their valedictorians. So the SP500 isn't just the broad economy; it is the best of the best, with a smaller amount of elite companies sitting at the very top. These top companies are now pushing into the $150b to $200b in net profit per year. Not only that, but these companies have been consistently increasing revenue and profit for not years, but decade or decades. To produce that type of performance consistently, these company's products and services possess a lot of qualities such as being durable, having high demand, being essential, having moat/IP/competitive advantage etc. That means they perform well in good times and bad times. Maybe as Mr and Mrs Main Street, you are forced to buy food, gas and electricty at higher prices; or maybe you just want to spend your money on the latest phone. But in similar fashion, successful businesses are also have needs and wants to sustain and grow their own business and much of that would feed back into these top companies. Also statistically, it is the wealthly that spend the most in the economy - they are less likely to be pressed in so called "weak economy".

Much-Buy-5830

hmm.. as long as DRTS dont offer this in China, maybe the MOAT and IP is protected.

_Knuckles

Thoughts on $CDT? Seems like the pennystock has endured a lot of reverse splits throughout the last year. Seems like they are planning a new IP strategy regarding drug repositioning (finding new ways to use drugs that already exist rather than spending enormous amounts of dabloons discovering new ones eg. tapinarof), and if the company sees true success they may potentially license that IP to larger pharmaceutical companies that may benefit the company. CDT also purchased 1290 shares of Sarborg a bit back [and says it has filed IP around using quantum sampling for disease biology and drug discovery, rather than merely using quantum computers to model individual molecules](https://www.stocktitan.net/news/CDT/cdt-highlights-sarborg-s-expanding-quantum-computing-ip-portfolio-901pgigvlbnt.html), also stating that Sarborg raised their capital at $125k per share representing a headline value of roughly $161 million. Considering possibility of future dilution and valuation uncertainty (like any penny stock ofcourse) there is absolutely a chance CDT is massively undervalued. These are just my thoughts and have been keeping an eye on this one despite their troubles

Lumpy-Blackberry-718

A lot of people are upset that mint shut down, and want a replacement. Sites like mint mostly rely on a third party api that scrapes all the bank websites to get account data (i think its called yodlee or something like that?). The third party uses apis where available but most banks have terrible apis. The scrapers may be in violation of terms, so could get blocked l, so you might even need a bunch of IP addresses too. You have to update the scraper every time the website changes too. I dont want to pay you 10/month just so you can pay an api provider 5/month. Make your own data api. If your mint clone fails, then just sell access to the api, since those apis already have tons of customers elsewhere. Making it work is complicated enough that claude cant easily do it all for you - it's not just code, it's also about how you deploy and maintain it.

Sufficient_Habit5091

First we let Gyna steal our IP. Now it's Mexico.

Tomkila

This is OTC stock, this stock will be in Nasdaq soon with probably 5/10b $ market cap after sk and micron deals. You can imagine 130/150$ IP licenses per year + 500m cash from micron and like 100m from sk. Netlist probabkh will be a billion $ cash, zero dept and over 300m $ ip licenses + resell business + home made products sales

Tomkila

Is basicly the same, both are under IP licenses with Samsung and soon with micron and sk. We are talking about hundreds millions $ + investing

FreedK70980

ARM for me, honestly. Bought a tiny position I can't justify on fundamentals because I like the IP moat and figured a small stake beats staring at the chart with regret for a decade (kind of how I feel keeping dubious piece activity on the board instead of simplifying, sometimes "I like it" wins over "the computer line says trade it off"). Costco's the one that gets me the most though, never once looked cheap and never seems to matter. fwiw I don't actually trade, just watch SPY and this stuff from the sidelines, so take the position-sizing talk with a grain of salt.

TuckerMcG

Patents aren’t granted on a worldwide basis. Patents granted by the USPTO only apply to the US. Patents granted by the EPO only apply to the EU. Patents granted by the JPO only apply to Japan. Patents granted by the CNIPA only apply to China. You have a fundamental misunderstanding of how IP works in a globalized world. Guess what? Anyone can access the USPTO’s website and read a patent that was granted. That’s the whole point of the patent. China isn’t disrespecting patents by practicing knowledge shared via US patent grants, because US patent grants don’t apply in China. You also have a fundamental misunderstanding of how US legal jurisdiction works if you think we can enforce a US patent in every country around the world. Long-arm jurisdiction is not infinite. You simply don’t know enough about this subject to be speaking with any authority whatsoever. > Bringing up inventions from over a hundred years ago isn't really supporting your case for innovation being stifled today, in 2026. That’s not the point of the list. The point of the list is to show you 250 years of unbelievably rampant innovation that was spurred by our patent system. And in case you didn’t notice, the end of that list was AI, which was invented in America. And while I won’t give Tesla Motors any credit for inventing electric cars, they did kickstart the market for it and made them economically viable for the rest of the world to follow their lead. And their battery tech was absolutely innovative. So once again, another US company leading the charge there. Your argument just doesn’t withstand anything beyond surface level scrutiny. > The internet? Email? The cellphone? The smartphone? What are you talking about? I’m talking about where these were invented. Ya know, where the innovation actually occurred? Duh. You cannot have this had of reading comprehension.

Tobeuo

Yes I would buy it if I were you, they're cutting costs and offering options to employees to retain better developers. Their IP value is well beyond their valuation and their games are not copy pasta as one user stated. They are unique and innovative, Child of Light was a work of art. Far cry is amazing, assassins creed, prince of Persia, rainbow six, they've got a ton of blockbuster titles. Their restructure was costly but they are set to turn profit in 2028. I bought 15,000 shares.

TuckerMcG

> When you look at China who is currently speeding past the world in development due to stealing intellectual property and developing their own, doesn't it make more sense that patents stifle innovation? China is able to steal IP because companies have outsourced manufacturing to them, which requires the companies to divulge the entire process of how to make the invention to the Chinese manufacturer and also sets up contracts between suppliers and the Chinese manufacturer to obtain all the materials necessary to make the thing. It has nothing to do with patents and everything to do with globalization. Anyone could look at a US patent and steal the invention. The whole point of patents is to reveal how something works. But other countries don’t steal our IP the way China does because they don’t have the equipment or supplies necessary to replicate the entire engineering process of our inventions. And China’s technological development is more due in part to their massive population, totalitarian government, and complete lack of respect for basic human rights than anything. > By allowing companies to sue anyone into the ground who even sniffs their intellectual property it creates an environment where people are too scared to innovate. Too scared to innovate? In the US? The country that invented the cotton gin, anesthesia, the phonograph, the telephone, the light bulb, the airplane, the assembly line (leading to mass produced automobiles), the hearing aid, the cardiac defibrillator, the pacemaker, organ transplants, the microwave, carbon dating, laser technology, the transistor, laptops, the personal computer, the Internet, email, the cellphone, the smartphone, GPS and now AI? C’mon, you’re not even trying to think critically about this. OpenAI had zero hesitation in scraping the entire internet and all available media to train its models despite copyright providing every author and musician and movie studio a legal basis to sue them to oblivion.

Long_Dong_Larry

These are all great examples except for Motorola Mobility. Google bought them for the IP and the know-how around making phones, which it then used to launch the Pixel line. Google kept all the patents and sold what was left to Lenovo. The Motorola Mobility that exists today owns very little of its original patent portfolio from before or during the Google years.

skilliard7

> Point 1 is fascinating and my question here is could this be China’s long run competitive advantage due to its political and economic structure? I'd actually argue it has more to do with American restrictions forcing China to do more with less. They have a hard time getting cutting edge American hardware in bulk(can only get small quantities via smuggling or lower tier hardware that gets approved). Because China cannot just throw infinite compute at training, this has driven China to invest a lot into R&D to find more efficient ways to train models and run them. The lack of hardware to satisfy demand from customers is also an incentive to make them open weight. Companies like Anthropic try to claim China is cheating, doing distilling, etc, but the reality is China has a lot of really smart researchers. It's also amusing seeing Anthropic accusing China of intellectual property theft, when they engaged in mass scale IP theft to train their models. It's the pot calling the kettle black

beaverlakenc

I this the recession indicator? Or is this still fafo china, start a trade war in a global economy.... Get cheap copies of shoes and IP not honored as well

GuyOnTheCouch420

tobacco is way more aligned with republicans than democrats. And tobacco wants cannabis legalized more than any other big industry. People dont stop smoking cigarettes because they smoke cannabis. And tobacco has a supply chain and IP that fits better than anyone. Alcohol specifically beer gets hurt from cannabis usage

illadelph_420

i agree but i mean...they have incredibly valuable IP and contracts. even if they never made another (new product design) shoe for the rest of their exsistence wouldnt they still make money. that Nike logo is worth something. im surprised the stock is still this low. they still got Air Force Ones and Air Jordans. also a large % of collector's shoes are Nike's albeit almost exclusively Older product(s).

TuckerMcG

> You're claiming the incentive of patents is to share innovation when the reality is patents are there to protect intellectual property for profit. No I’m claiming it does both of these. It *temporarily*’protects IP for profit as an incentive to induce inventors to teach the world how their invention works. And again, the patent monopoly is temporary. Why are you having such difficulty understanding this? I’m arguing in good faith, you just refuse to believe the world is more complex than your brain can handle and sometimes you have to make short term concessions in order to serve a greater long term goal.

greenpride32

>I am betting on future revamping the US electrical system and full electrification The need for this would have to align with a belief that AI datacenter buildout will continue to scaleout for the foreseeable future. In that case the better investment is SMH SOXX and more energy focused AIPO. I think you're going to find that in many of those engery ETF's there will be a lot of dead weight (espeically in TAN). In the semi space, you have companies selling products and services backed by IP and at high margin; whereas energy is a commodity. Sure you will see some earnings growth in energy, but ultimately it cannot scale that fast and is fractured (as in many share the pot). Individual big winners sure, but ETF will water them down by a lot, that broader index is better long term.

WhatsUpSteve

It's not like any of our votes matter since he's literally the single largest shareholder of TSLA stocks. SPCX will absorb all of the TSLA debt and assets. TSLA will collapse like a cheap folding chair and all the IP of TSLA will be part of TSLA.

Fredidiah

- Not everyone can run a company forever (what happens when the founder dies?) - Selling a portion of ownership can inject cash into a business that might have a need / desire for cash NOW to fund projects that it thinks can significantly grow operations - Owning a business is valuable. If you ceased all operations of a major business, they still have valuable assets: a knowledgeable workforce, products, inventories, contracts, IP, buildings, etc. - You don't have to sell ownership of a company if you don't want to

Longjumping_Fun2576

The thing is, most of the time AI is handicapped because you can't allow it access to anything that matters. So you give it access, and suddenly you're in a press conference trying to explain why 10 different AI systems hacked all your IP.

Designer_Respect4285

He wrote: "AI is a money trap, with AI companies' ridiculous valuations and unsustainable businesses making exits or IPOs impossible" He wrote AI has 3 quarters to prove itself or collapse in 2024, he wrote numerous other similar comments saying if X doesn't happen they will go bankrupt, every time it's been wrong. Here's his thoughts in depth about Open AI and Antrhopic not being able to IPO, the cherry on top is he said no one would ever buy Anthropic at a 170b valuation lmao. Transcript from the better offline podcast titled The AI money trap part 2: While a normal company could just issue equity and deal with the dilution that way, open AI's structure necess states the negotiation, where companies can obstruct the entire process if they see fit. Speaking of companies doing that, let's talk about Microsoft. As I asked in my premium newsletter a few weeks ago, what if Microsoft does not want open 03:46 ai to convert. They own all the IP, they own all the access to open AI's research, and already run most of their infrastructure, while assuming the best case scenario that it would end up owning a massive junk of the biggest tech stile up of all time. And I'm talking about equity not open AI's current profit sharing units. Microsoft might also believe that it stands to gain more by letting open ai die and assuming its role in 04:08 the AI ecosystem. But let's assume that open ai converts and now has to continue raising money at a rate that will require it allegedly to only need to raise seventeen billion dollars in twenty twenty seven. That number doesn't make any sense considering the open ai already had to bring forward its eight point three billion dollar fund raised by at least three months. But let's stick with that idea. 04:29 Open ai believes it will be profitable somehow by twenty thirty, and even if we assume that that means it intends to burn over one hundred billion dollars total to get there, is the plan to take open ai public and then dumper toxic acx onto the public markets. Then it will just flounder and convulse and die for everybody to seek. Kind of sucks. Can you imagine open aiss one? How old do you think this company would do when they had a true financial audit from a major accounting firm, 04:57 and you can claim they already have one. I simply don't belie leave you, this burn does not seem like an accountancy firm would be good with them. And if you want to know what all that looks like Google we Work, which went from tech industry darling to joke in a matter of days in part because it was forced to disclose how bad things actually were when they filed to go public. No really are linked to an article I've linked in the spreadsheet called the Strangest and 05:19 most Alarming things in we Work's IPO filing. It's a bad sign if your IPO filing is described as strange and alarming. Those are not even terms of art, they're just worrisome. With that in mind, I feel the same 05:30 way about Anthropic. Nobody is buying this company at one hundred and seventy billion dollars, which is how much it's raising it right now, and thus the only way to access liquidity would be to take Anthropic public and show the world how a company that made seventy two million dollars in January and more than four hundred million dollars in July twenty twenty five and also plans to lose three billion dollars or more, and then you show them that and let the market sign a fair price, especially 05:54 if the S one includes a bunch of strange and alarming stuff that raises questions about whether anthropics value is actually justified. I'm I'm stuttering here because everyone's acting like these irrational things like yeah, our open ai, which burns five billion dollars in twenty twenty four, probably ten or more in twenty twenty five. If if not fifteen or twenty, like that's fine, Like this is all good. Speaker 3 06:17 They'll just go public one day, will they really? Speaker 2 06:20 Really? Speaker 3 06:21 Will they? No? Speaker 2 06:22 Really, what's the plan? What's the plan here? 

cultoftheclave

I think they still get a royalty for every chip of ram that is sold with their tech baked in, which I believe is almost all of the stuff that is sold as HBM. But maybe some of that IP has expired, or chipmakers have figured out how to implement work alike solutions, or something. But as RMBS it's not, as far as I know, an actual fab I guess they don't get much from the current shortage economics. You think they would at least catch a contact high from it, but no. they just sit around treading water in a range, with a little bit of uptrend due to the whole lift of the market. but nothing anywhere like the explosive meme chip tickers. still there apparently still in business and must be selling something to somebody, maybe they're an acquisition target at some point?

Sofi_Seance

https://sciencebusiness.net/news/79887/The-Great-IP-Debate%3A-Do-patents-do-more-harm-than-good%3F Here’s a link to economists debating on patents. I literally AGAIN gave an example agreeing with you of how patents can support innovation. Why would I need a response to something I’m literally agreeing with in some context?  Again. Most economic conclusions are debated. Like did you take a class or two read some arguments in favor and never realize the world of discussion outside of that? Source economics degree and reading tons of papers on various economic topic. The only sign of ignorance is behavior like this thinking things are universal facts 

TuckerMcG

> You quoted an economist, proving my point that it’s economics. Which I studied *in law school*. Do you somehow think becoming a corporate lawyer doesn’t require an understanding of economics? There is no debate over this. The debate is uneducated dinguses on Reddit circlejerking each other, the other side is IP lawyers and Stanford economists. Also just common fucking sense would show you how incorrect your argument is. The US patent system stifles innovation, yet Americans still somehow invented the cotton gin, anesthesia, the phonograph, the telephone, the light bulb, the airplane, the assembly line (leading to mass produced automobiles), the hearing aid, the cardiac defibrillator, the pacemaker, organ transplants, the microwave, carbon dating, laser technology, the transistor, laptops, the personal computer, the Internet, email, the cellphone, the smartphone, GPS and now AI. Wow sure looks like we really are suffering from a severe lack of innovation over here! /s

Ancient-Prize4353

Waymo and Uber has been at odds since forever Uber had to pay Waymo $100M to settle an IP theft lawsuit decade ago. Waymo is on Uber because they want to test the distribution market, it makes absolutely no sense for them to be there long term, Uber app is a mess.

ProbsNotManBearPig

You’re not understanding because you have zero actual insight on what’s going on. Big money for ai comes from enterprise use. Big US tech companies account for a huge % of that use globally. None of the US tech companies are using Chinese models and never will. Why? Because licensing and hosting will always be a problem when working with Chinese companies. Sending billions to Chinese companies to let their ai software raises political concerns, cyber security concerns, and legal concerns about IP source of their models. It is a hard sell to US enterprises to use Chinese models anytime soon. Additionally, a huge part of the value of ai is the harness/agent layer that gives the LLM integrations to do things like read/write files, map code bases, have memories, etc. None of those things are the LLM model itself and add huge value. Anthropic and OpenAI are light years ahead on those things. Chinese companies could figure those things out too, but they have no major revenue streams and similarly high costs as US companies/models to host.

Emotional_Scheme6272

The compute angle is what most people are missing. Wall Street prices companies based on revenue multiples and AMD just bought an internal roadmap for their own hardware division. The $8.2bn isn't just for the IP or the talent, it's for a permanent seat at the table when these simulation workloads get defined. Everyone's piling into LLMs right now and spatial models are just sitting there waiting to eat the next decade. Robotics is stuck in a loop of impressive demos that can't handle edge cases because nobody wants to pay for the physical data collection to fix it. Simulation breaks that cycle but it requires an absurd amount of parallel processing. AMD gets to watch exactly where the bottlenecks form and then build silicon specifically for that problem. That's not a typical acquisition, it's a feedback loop most companies would kill for.

scotel

You don't know what you're talking about. This is very obviously an acquihire (acquiring solely for the employees). In today's AI market if they had legit IP they would be worth way, way more than 8B. Instagram / Android were not acquihires, they were acquired very specifically for their respective products / technology.

Wushu77

and then... Uncle Huang and Uncle Trump announce 'Strategic Partnership' with Cousin Xi. Strict compliance to quotas and IP, ITAR compliant architectures, third party leasing, mitigate supply chain bottlenecks, double manufacturing output tomorrow...blah blah blah.....we are all friends again :) market go boom.

dgellow

Your points are why you seem to like Microsoft, they aren’t investment related. - Microsoft branding is more messier and more diluted than a few years ago, copilot is a failure so far. Sharepoint is legacy software - open source doesn’t translate at all to profit - quantum computing is a tiny experimental market with no profit, and not expected to see any profit in that industry before a very long time - the video game industry has been declining a lot, it’s a pretty risky industry right now and microsoft has been one of the worst IP manager of the past decade

Pitiful-Voyage

Dam but all time low it seems less market cap than they own in IP and factories Def sux if you invest 2021-2025 you never recover that. Good cars no? Expert level anal-ysis

Dubious-Decisions

Do you have any idea with a tiny, minuscule fraction of the global economy and overall intellectual property pool that Linux and open source projects account for? Your confirmation biases aside, I can tell you that you're lecturing someone who has 15 patents and believe me, I understand the process, the flaws, and the value of the system. The last person I'd expect to understand how the system actually works is someone trying to impress upon me that the microscopic fraction of the global economy represented by Linux IP is somehow a paragon of how things can work and should. If that was true, well, things WOULD work that way. That they don't is a good indication that that's not what the market seeks.

stonkstonk69

They are reaching a tipping point, where there are enough sales references for this asset light company to take off. Recent licensing of IP very promising as well as added Exxon board member.

sentientshadeofgreen

1. Azure and Microsoft Office will stick around for the forseeable future. Copilot and Sharepoint are trash, it is not a "strong brand", it is something people put up with due to lack of competitive alternatives. 2. Microsoft is not committed to open software. Literally the opposite. 3. Not a good reason to invest in Microsoft. 4. Microsoft is not leading in QC. Not even close, which should concern given how much money they have and how much talent they are able to attract. 5. Microsoft IPs are wildly mismanaged. Just look at Halo - if how the Halo IP has been managed over the past decade inspires confidence in you, I have some great Jersey Shore beach-adjacent timeshares to sell you.

svideo

Linux and the rest of open source did exactly what you claim would be impossible and that solution now powers essnetially the entire internet including the website we are using right now. I have made several such contributions of my own work, again permissively licensed and you can check my submissions for a couple decades of doing exactly that. Execution is king, getting a good idea to market and serving customers well is what creates a good business. Fake protectionist notions like IP are cover for already-rich people, and you're just carrying water for them.

Defiant_Regular3738

IP protection does exist with big tech and with AI they wiped their ass with it, now both are hiding behind too big to fail ideas. When a clear AI winner appears they'll flood the courts with IP cases crying their reptile eyes out about infringement and intellectual property.

svideo

Abolish the complete nonsense idea that ideas are property. It exists to make rich companies richer, there are no lone inventors out there making piles of money on a patent. Trademark exists to protect both consumer and producer, every other aspect of IP law is complete rubbish that exists to keep rich people rich and is dragging humanity down with it.

MetalMountain2099

I can’t stand Elon, but China controls what and how many cars Non-Chinese products can be in their market…..also, China steals everyone’s IP, so they can sell their cars cheaper.

Hobo_Robot

If you're an IP transactions lawyer, then you are familiar with patent trolls. You should also be familiar with Jonas Salk, who famously chose to not patent the polio vaccine. Maybe patent trolls pay your billable hours so you feel the need to defend the system.

TuckerMcG

I’m an IP transactions lawyer and my god there’s an incredible amount of stupidity in this thread. How does it stifle innovation, exactly? If anybody could just rip off a new invention, nobody would reveal how their invention works. That’s the point of patents - to give inventors an incentive to share what they’ve discovered and how their invention works so the rest of the world can learn from it. The monopoly granted by a patent is an inducement for inventors to share information. It doesn’t stop anyone from inventing anything. Scientists don’t go, “oh hey I could develop this new medical device that will save millions of lives and make me potentially billions of dollars, but man the patent system just doesn’t work right. I’ll just stop my work here and won’t bother creating something new which could save lives.” They go, “oh hey I invented this new medical device, I should patent it so nobody else can make money on it before I do.” Go google the inventor of drug eluting stents (ie, stents for blocked arteries which are coated with drugs that help keep the artery open and prevents scarring). Major medical device manufacturers ripped off his patents, he sued them and won billions of dollars of off them. Without the patent system, he would’ve gotten $0 for his legitimately life saving invention. In fact, he wouldn’t have shared his invention at all with the world and would’ve kept it as a trade secret and nobody would be able to use them. [Here’s I did some of the work for you and found just one of the lawsuits he won. ](https://www.insurancejournal.com/news/national/2011/01/31/182534.htm) So again - how, exactly, does the patent system hinder innovation???

icantbelieveit1637

Funnily enough IP law is some of the earliest constitutional powers Article I, Section 8, Clause 8: *\[The Congress shall have Power . . . \] To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries.*

redpandaeater

A lot of our copyright and IP law of the last hundred or so years is unconstitutional. I'm still pissed at SCOTUS for stealing stuff from us and putting things in the public domain back under copyright after the Uruguay Rounds Agreement. Our patent system isn't quite as shitty as that, but there's definitely hasn't been enough funding at the USPTO to properly nip a lot of patent trolls in the bud by axing patent claims due to prior art or obviousness. That's something AI might actually be helpful with to help with patent searches.

mrpickles

It's not expensive though.  Netflix was such a huge success because they re-monetized old content sitting on the shelf.  IP owners were happy, customers were happy, Netflix was happy.  Then IP got greedy. And they're trying to pivot into TV again. What needs to happen is Netflix tells IP owners take a hike - most of them can't compete with their own streaming service.  If that means scaling down the library, cut the rate!  Until IP comes back begging to be back online.  Stop trying to produce a new hit show every week, and just be the affordable library of cinema history.

3dprintinted

Your IP probably did not change at home

Amadeum

Disney was a sell when it was clear to me they were dropping the ball on nearly every IP they had

Brutally-Honest-Bro

Apple puts? $5.7 billion fine for using someone else's IP

chiniwini

Wdym? A Chinese model is the safest option. Buying a bunch of hw and running the model on premise (your data never leaves your building) versus sending all your data and IP to Anthropic.

Low_discrepancy

> Big tech companies won't let a Chinese model within a mile of their IP or code. Yes they would and they are at my very large American multinational that everyone has heard of.

Vycid

There's no money in sales to individuals. All the money is selling to enterprise. Big tech companies won't let a Chinese model within a mile of their IP or code. They pay API rates for special ZDR agreements, and sometimes even more than that for Bedrock. This plan is for the tech types that work at large tech companies. $500 is massively subsidized, they're losing money on it, but it's a hearts and minds thing.

Me-Regarded

I can leave here, I get banned from reddit and have to buy a new phone, change IP, etc.

EI-SANDPIPER

It's overvalued. Disney would be the best pick in the space because of their valuation, IP and parks. In fact I think Nike would currently be the better buy, although I wouldn't buy it either at its current price