However, there are also lots of opportunities and we think that Destiny Media provides an excellent risk/reward picture, with a few qualities that might seem to skip notice. While the market cap versus the addressable market is an important metric for seizing op the opportunity in front of the company, we think there are two other critical factors that we think investors should not lose sight off:
- The quality of management
- The defensibility of the technology
By most accounts (certainly ours), CEO and founder Steve Vestergaard is an accessible, no-nonsense kind of guy who has a vested interest in the success of the company (as a large shareholder) and has methodically and patiently build out the company to reach the inflection point it is today. It is difficult to put a price on that, but we think it should be substantial. Most steps forward seem to be well thought out. We’ll give a few examples.