We Got India Right and Still Lost + UiPath Beat Earnings and Fell 17% $NDIA, $PATH, $UBER (E149)

Monkey is surrounded by Tesla robotaxis in Austin and the rides are cheaper than Uber. Luke has three years of hindsight on the India thesis: the macro delivered, the trade didn't. In between, UiPath beat earnings and fell 17%, and Monkey explains why he sold his January call the week before.

🚕 Tesla robotaxis are undercutting $UBER on price. Pelosi and Trump are both buying the stock anyway

🏛️ Uber's defence is Congress: lobbying for a minimum share of human-driven rides

🤖 $PATH went from scripted bots to Maestro: agents decide, robots execute, humans approve

📉 Stock-based comp cut from 43% of revenue to 11%. Then a beat, a flat guide, and a 17% drop

🎯 "Take off the long-term investor hat, put on the trader's hat": the anchored VWAP line and the $15 call sold for a 65% gain

😴 "I was thinking of getting back in, but I couldn't sleep well." Luke: UiPath "niched and probably dead"

🇮🇳 S&P 500 up 85% since the May 2023 India episodes. $NDIA up 27%. $IIND up 17%

💱 The rupee loop: AI shrinks India's $200bn services exports, the currency slides, foreign returns evaporate

🌾 Wendell Berry's death, a life of depth versus a life of efficiency, and his nine rules for a new tool

SEGMENTS

00:00 Cold open 00:41 Intro 05:12 $TSLA robotaxis vs $UBER, Pelosi and Trump buying 16:07 Wendell Berry: protecting time from technology 35:40 A live show for Patreons? 37:20 $PATH: from robotic process automation to Maestro 41:31 The Fiscal.ai chart: ARR up, stock-based comp down 58:22 India revisited: the 2023 thesis, three years on 01:01:37 India vs the S&P 500 chart 01:04:44 The rupee loop and the AI threat to services exports 01:12:26 "Update our mental models of what counts as safe in 2026" 01:13:56 Hare and tortoise: next week's King of the Jungle preview 01:15:01 Close

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