I mention the above because I had lunch with a tech investor...

I mention the above because I had lunch with a tech investor today that I respect.

He has been looking at LVT. He doesnt have a view on Hendrix one way or the other.He called it a "neat product...cute....its a competitive space" The product in LVT's line up that he really likes and he thinks can be really important is HyperFish.

In his view, every enterprise using Microsoft has an out of date or significantly flawed Active Directory. Hyperfish may not sound like a glamorous product but looming AD issues are the big little secret that every CTO in every major organization knows has to eventually be dealt with.

His approach to tech investing (which has been really successful over two decades) is to find mid cap companies with a product or solution that solves really large problems.....to pay up for the stock (he is indifferent to valuation when there is a clear case for scale) and own companies for a long time that can be ten or one hundred times their current size. SalesForce was an example of a multi year holding. In his words "Every salesman in every company needed technology to organize their leads and make them more efficient......it was clearly a solution for a massive need"

On Hyperfish: Its an elegant solution to a massive problem. It could be something that 2/3rds of the large organizations using MSFT in the cloud will look at. About half way up the "to do" list of every IT department is to update their Active Directory and this is only going to become more and more urgent. Companies introducing all the AI products that will be coming onto the MSFT platform over the next decade will fail if their AD is not up to date. MSFT's # 1 priority is now all about introducing AI to enterprise wide workflow software. But one of the building blocks that needs to be in place is that the enterprise directory must be functionally correct, otherwise the AI is not going to understand who or what it is dealing with. It will be liking holding a conversation in a pitch black dark room (again his words).

He likes LiveTile Design and Bots as platform products but he "loves" Hyperfish.