Spotify Technology (SPOT)

A newly public company. He sees no visibility to earnings or cash flow here. Streaming is a big opportunity though, and he likes Apple music, which he'd rather buy--Apple has positive earnings and stability. Spotify isn't stable, at least not yet.

This whole space is very interesting. The content providers besides the supper big stars are not making a ton of money on these platforms. Longer term he thinks a cooperative model is ripe.