In short: Named as a past mistake, in the issue's most useful confession: "Every single time I bought a company not because I thought it was the highest quality, but because it was cheap, it ended up being a mistake (so far). Think about: Text SA, OTC Markets, Novo Nordisk…" Already sold; see the 14 July account of the exit at -20%.
In short: The other sell. A live-chat / chatbot SaaS out of Poland. He initially thought AI would strengthen it; "after a few months it became clear it's more a threat than something that helps them." Sold early 2024 after 4–5 months at a −20% loss; since down "an extra 50%." Chatbots risk becoming a commoditized product.
Text S.A. (formerly LiveChat Software) is a Polish company that makes the little chat and chatbot windows that pop up to help you on websites. Slegers bought it expecting AI to make its product stronger, but within a few months decided AI is more of a threat than a help — advanced chatbots risk becoming a cheap, commoditised product that competes its business away. He sold after only 4–5 months at a 20% loss; the stock has since fallen roughly another 50%. It's his cautionary tale about owning a business whose future is hard to predict. The row uses the Warsaw ticker (TXT.WA) because plain "TXT" is the US ticker for Textron; its US over-the-counter line is LCHTF.
47:56First stock I sold is Text S.A. early 2024. So basically it's a company that pops up when you're using a website and it's basically a live chat solution thing. So it's a chatbot that helps you when you have a problem on the website. Well, initially I thought AI would help Text S.A. become a stronger business, but after a few months it became clear that it's more a threat than something that helps them.
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