Randy Baron's bull case on $GDS
One of the people's favorite guests, Randy Baron, returns to the podcast to talk about his thesis for GDS. GDS is a Chinese data center company, and Randy goes in depth into the company, including why their tier 1 footprint gives them a moat, how GDS is trading at a discount to private market values, and why ADR and VIE fears may be overblown.My notes on GDS: https://twitter.com/YetAnotherValue/status/1516805266565644289?s=20&t=_7FcaMp4YYgZ1S4htJXz6gRandy's first podcast on AMRS: https://twitter.com/AndrewRangeley/status/1407669290241777666?s=20Randy's second podcast on RNLX: https://twitter.com/AndrewRangeley/status/1448604500009242632?s=20Tubes (data center book mentioned in the pod): https://amzn.to/3rKUxRqChapters0:00 Intro2:20 Data Center Overview9:10 Chinese Data Center overview11:20 Randy's history with GDS17:45 GDS valuation versus private market comps24:00 What does Randy see in GDS that the market is missing?28:45 GDS's international expansion plans34:00 Why does GDS's tier 1 footprint give them a moat?39:50 GDS's M&A and growth ambitions47:30 GDS's recent raise from Sequoia China and peer VNET's acquisition offer52:15 The China ADR and VIE issues58:55 Wrapping up the GDS thesis