Heath Moss

What Heath Moss has said on podcasts

13 statements

1. on Firmus IPONegativeOct 9, 2026· Theory of Thing Investment Podcast

   Firmus’s IPO was heavily valued and primarily based on promises.

   “What was basically an IPO, a very heavily valued IPO built on basically a promise. That's it.”

   Listen at 2:09

   Open the episode · Theory of Thing: A Firm No for Firmus
2. on Firmus capital expenditureNegativeOct 9, 2026· Theory of Thing Investment Podcast

   Firmus would need to fund $50–70 billion of capex over three to five years.

   “It's just like, you know, how are you going to fund this? Outside of the IPO, how are you going to fund – I think it was like $50 to $70 billion of capex over the next – five years or three to five years.”

   Listen at 3:57

   Open the episode · Theory of Thing: A Firm No for Firmus
3. on Firmus IPO investorsNegativeOct 9, 2026· Theory of Thing Investment Podcast

   Firmus IPO investors would likely face dilution from future fundraising.

   “So IPO listers would have been diluted out of their holdings over the next few years.”

   Listen at 4:12

   Open the episode · Theory of Thing: A Firm No for Firmus

Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.

• Oct 9, 2026Firmus pulls IPO as AI infrastructure costs face scrutinyTheory of Thing Investment PodcastOct 9, 2026Guest